Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 25

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 25
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 on our business activities; or (b) the approvals or licenses granted to our personnel enabling them to
carry out their responsibilities in our group. For instance, conditions may be imposed on our licenses restricting us from carrying on
our business, or our Responsible Officers or Licensed Representatives may be banned from the industry for a specific period of time.
Accordingly, our business operation, reputation, financial condition, and results of operations might be materially and adversely affected.

Furthermore,
any material changes to the laws and regulations applicable to us and the Operating Subsidiary could significantly affect our operations.
We cannot assure you that the business model and operations we currently have in place would be in compliance with any changes or updates
to the regulatory requirements. Costs of compliance could increase, and our fee structure may have to be adjusted. For instance, we may
need to increase the headcounts of our subsidiaries if requirements over sponsor work become more stringent or obtain more licenses if
the licensing requirements change. The sanctions imposed by the HKSFC against large sponsor firms for substandard due diligence in several
recent widely-publicized cases demonstrate that the HKSFC expects high standards of sponsor’s conduct and we will need to
continue to enhance our internal controls and systems in respect of our sponsor work in accordance with new regulatory requirements or
guidance.

From
time to time, Grande Capital may be subject to, or required to assist in, inquiries, investigations, or penalties by relevant regulatory
authorities or government agencies in Hong Kong, the PRC, or other jurisdictions, including the HKSFC, relating to its own activities
or activities of third parties such as its clients. The HKSFC conducts on-site reviews and off-site monitoring to ascertain
and supervise our business conduct and compliance with relevant regulatory requirements and to assess and monitor, among other things,
our financial soundness. We, our directors, or our employees, may be subject to such regulatory inquiries and investigations from time
to time, regardless of whether we are the target of such regulatory inquiries and investigations. If any misconduct is identified as
a result of inquiries, reviews or investigations, the HKSFC may take disciplinary actions that would lead to revocation or suspension
of licenses, public or private reprimand or imposition of pecuniary penalties against us, the responsible officers of the Operating Subsidiary,
licensed representatives, directors, or other officers. Any such disciplinary actions taken against us, the responsible officers of the
Operating Subsidiary, licensed representatives, directors, or other