Company: CLIK
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001493152-25-019286
Chunk: 7

Company: Click Holdings Ltd.
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 7
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 may, in the future, consider cross-border cooperation with a securities regulatory authority of the
PRC by way of judicial assistance, diplomatic channels or regulatory cooperation mechanism established with the securities regulatory
authority of the PRC.

All
our operations are currently conducted in Hong Kong. Hong Kong has a legal system separate and apart from mainland China. The Securities
and Futures Commission of Hong Kong (the “ SFC”) is a signatory to the International Organization of Securities Commissions
Multilateral Memorandum of Understanding (the “ MMOU”), which provides for mutual investigatory and other assistance and exchange
of information between securities regulators around the world, including the SEC. This is also reflected in section 186 of the Securities
and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the “ SFO”) which empowers the SFC to exercise its investigatory
powers to obtain information and documents requested by non-Hong Kong regulators, and section 378 of the SFO which allows the SFC to
share confidential information and documents in its possession with such regulators. However, there is no assurance that such cooperation
will be maintained, or if it is, whether it will adequately address any efforts to investigate or collect evidence to the extent that
may be sought by U. S. regulators.

Although
we are based in Hong Kong, if we should become subject to the recent scrutiny, criticism and negative publicity involving U. S.-listed
China-based companies, we may have to expend significant resources to investigate and/or defend the allegations, which could harm our
Hong Kong operating subsidiaries’ business operations and our reputation, and could result in a loss of your investment in our
Class A Ordinary Shares if such allegations cannot be addressed and resolved favorably.

During
the last several years, U. S. listed public companies that have substantially all of their operations in China have been the subject of
intense scrutiny by investors, financial commentators and regulatory agencies. Much of the scrutiny has centered on financial and accounting
irregularities and mistakes, lack of effective internal controls over financial reporting and, in many cases, allegations of fraud. As
a result of this scrutiny, the publicly traded stock of many U. S.-listed Chinese companies that have been the subject of such scrutiny
has sharply decreased in value. Many of these companies are now subject to shareholder lawsuits and/or SEC enforcement actions that are
conducting internal and/or external investigations into the allegations.

Although
we are based in Hong Kong, if we should become the