Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 15

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 15
---
 relating to the economic, political,
legal and social conditions in Hong Kong, Taiwan and Macau.

During the years ended June
30, 2025, 2024 and 2023, we also operate our business in Hong Kong, Taiwan and Macau. Any adverse changes in the economic, political,
legal and social conditions of Hong Kong, Taiwan and Macau may lead to an adverse impact on the demand for our services and may result
in deteriorating financial performance of our Group.

Furthermore, we cannot assure
you that there will not be any political movements or large scale political unrest in Hong Kong, Taiwan or Macau, which may in turn adversely
impact the market or lead to disruption of the general economic, political and social conditions in Hong Kong, Taiwan or Macau. If such
unrest or movement persists for a substantial period of time, it may lead to such disruption, and our overall business, results of operations
and financial condition may be adversely affected.

Hong Kong and Macau became
the special administrative regions of the PRC when the sovereignties of both regions were returned to the PRC, whereas Taiwan has a unique
political status with conflict on its sovereignty with the PRC. We cannot assure you that the economic, political and legal developments
in Hong Kong, Macau and Taiwan will not be adversely affected as a result of the exercise of sovereignties by the PRC over Hong Kong and
Macau and the conflict between Taiwan and the PRC. If there is any material adverse change in the general economic, political and legal
developments in Hong Kong, Macau or Taiwan, our operations and financial position may be adversely affected.

The Hong Kong legal system embodies uncertainties
that could limit the availability of legal protections.

Hong Kong is a Special Administrative
Region of the PRC. Following British colonial rule from 1842 to 1997, China assumed sovereignty under the “one country, two systems”
principle. The Hong Kong Special Administrative Region’s constitutional document, the Basic Law, ensures that the current political
situation will remain in effect for 50 years. The laws previously in force in Hong Kong, that is, the common law, rules of equity, ordinances,
subordinate legislation and customary law are maintained. Hong Kong has enjoyed the freedom to function with a high degree of autonomy
for its affairs, including currencies, immigration and customs operations, and its independent judiciary system and parliamentary system.
On July 14, 2020, the United States signed