Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 4

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 4
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 with little advance notice, along with the risk that the PRC government may intervene
or influence our Operating Subsidiary’s operations at any time could result in a material change in our operations and/or the value
of our securities. Moreover, there are substantial uncertainties regarding the interpretation and application of PRC laws and regulations
including, but not limited to, the laws and regulations related to our business and the enforcement and performance of our arrangements
with clients in certain circumstances. The laws and regulations are sometimes vague and may be subject to future changes, and their official
interpretation and enforcement may involve substantial uncertainty. The effectiveness and interpretation of newly enacted laws or regulations,
including amendments to existing laws and regulations, may be delayed, and our business may be affected if we rely on laws and regulations
which are subsequently adopted or interpreted in a manner different from our understanding of these laws and regulations. New laws and
regulations that affect existing and proposed future businesses may also be applied retroactively. We cannot predict what effect the
interpretation of existing or new PRC laws or regulations may have on our business.

The
laws, regulations, and other government directives in Mainland China may also be costly to comply with, and such compliance or any associated
inquiries or investigations or any other government actions may:

  delay                       

  result                                                  
  in negative publicity or increase our operating costs;  
 ──────────────────────────────────────────────────────────

  require                                     

  cause                                             

  subject                                                                                     
  us to remedies, administrative penalties and even criminal liabilities that may harm our    
  business, including fines assessed for our current or historical operations, or demands or  
  orders that we modify or even cease our business operations.                                
 ──────────────────────────────────────────────────────────────────────────────────────────────

We
are aware that recently the PRC government initiated a series of regulatory actions and statements to regulate business operations in
certain areas in Mainland China with little advance notice, including cracking down on illegal activities in the securities market, enhancing
supervision over Mainland China-based companies listed overseas using a variable interest entity structure, adopting new measures
to extend the scope of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. We have no operations in Mainland
China. Our Operating Subsidiary is located, and operates, in Hong Kong, a special administrative region of the PRC.

Based on
our understanding of the PRC laws and regulations currently in effect as of the date of