Company: BGHL
Filing Date: 2025-09-25
Form Type: F-1/A
Source: 0001213900-25-091359
Chunk: 23

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-09-25
Form: F-1/A
Chunk 23
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 a “controlled company” as defined under the Nasdaq Stock Market Rules because, immediately after the completion of this offering, our Controlling Shareholder will own 62.6% of our total issued and outstanding Shares, representing 62.6% of the total voting power, assuming that the underwriter does not exercise the Over -AllotmentOption. Although we do not intend to rely on the “controlled company” exemption under the Nasdaq listing rules after the Offering, we could elect to rely on this exemption in the future. If we elect to rely on the “controlled company” exemption, a majority of the members of our board of directors might not be independent and our nomination and compensation committees might not consist entirely of independent directors. Cash Flows through Our Organization Our Company, Billion Group Holdings Limited, is permitted under the laws of the Cayman Islands to provide funding to Harmony Alliance Holdings Limited, our wholly -ownedBVI subsidiary, through loans and/or capital contributions without restrictions on the amount of the funds. Harmony Alliance Holdings Limited, in turn, may provide funding to Billion Enterprise International Limited, our wholly -ownedHong Kong operating subsidiary, through loans and/or capital contributions. 4 Conversely, Billion Enterprise International Limited is permitted under the laws of Hong Kong to provide funding to Harmony Alliance Holdings Limited, its sole shareholder, through dividend distributions or payments, without restrictions on the amount of the funds. Harmony Alliance Holdings Limited is also permitted under BVI law to provide funding to our Company, Billion Group Holdings Limited, through dividend distributions or other permitted means, provided that it satisfies the solvency test required by BVI law for such distributions. There are no restrictions or limitations on our ability to distribute earnings by dividends from our subsidiaries (including Harmony Alliance Holdings Limited and Billion Enterprise International Limited) to our Company and our shareholders and U.S. investors, provided that the distributing entity remains solvent after such distribution. Our board of directors may, by resolution, authorize and declare a dividend to shareholders at such time and in such amount as they think fit if they are satisfied, on reasonable grounds, that immediately following our Company will be able to pay our debts as they become due in the ordinary course of business. According to the Companies Ordinance of Hong Kong (Chapter 622 of the Laws of Hong Kong), a Hong Kong company may only make a distribution out of profits available for distribution. There is no further Cayman Islands, BVI, or Hong Kong statutory restriction on the amount of funds which may be distributed by us by dividend beyond the respective solv