Company: BGHL
Filing Date: 2025-10-28
Form Type: F-1/A
Source: 0001213900-25-102958
Chunk: 4

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-10-28
Form: F-1/A
Chunk 4
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ary, namely Billion Enterprise International Limited is not, a Chinese operating company. We hold 100% equity interests in our Operating Subsidiary in Hong Kong, and do not use a variable interest entity (“VIE”) structure. None of our business, operations or subsidiary is located in Mainland China and the Company is not a Chinese operating company. Furthermore, none of our suppliers are in Mainland China. Because all of our operations are in Hong Kong, a special administrative region of China, our business is subject to the complex and rapidly evolving laws and regulations there. To the extent cash or assets in the business are in Hong Kong or a Hong Kong entity, the funds or assets may not be available to fund operations or for other use outside of Hong Kong due to interventions in or the imposition of restrictions and limitations on the ability of you or your subsidiaries by the PRC government to transfer cash or assets. For a detailed description, see “Risk Factors — Risks Related to Doing Business in Hong Kong — All of our operations are in Hong Kong. However, due to the long -armapplication of the current PRC laws and regulations, the PRC government may exercise significant direct oversight and discretion over the conduct of our business and may at any time, or may exert more control over offerings conducted overseas and/or foreign investment in China and Hong Kong -basedissuers, which could result in a material change in our operations and/or the value of the securities of the Company. Our Operating Subsidiaries in Hong Kong may be subject to laws and regulations of Mainland China, which may impair our ability to operate profitably and result in a material negative impact on our operations and/or the value of our Ordinary Shares. Furthermore, the changes in the policies, regulations, rules, and the enforcement of laws of the PRC may also occur quickly with little advance notice and our assertions and beliefs of the risk imposed by the PRC legal and regulatory system cannot be certain.” on page 13 of this prospectus. The Company currently has no express cash management policies that dictate how such funds are transferred. The majority of our historical clients were based in Hong Kong and our advertising market is in Hong Kong, none of our business, operations or subsidiary is located in Mainland China and the Company is not a Chinese operating company. Nor do we intend to set up any subsidiary in Mainland China or enter into any contractual arrangements to establish a VIE structure in Mainland China. Furthermore, none of our suppliers are in Mainland China. The Chinese government may