Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 41

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 41
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 performances of other Hong Kong and Chinese
companies’ securities after their offerings may affect the attitudes of investors toward Hong Kong-based, U. S.-listed companies,
which consequently may affect the trading performance of our Ordinary Shares, regardless of our actual operating performance. In addition,
any negative news or perceptions about inadequate corporate governance practices or fraudulent accounting, corporate structure, or matters
of other Hong Kong and Chinese companies may also negatively affect the attitudes of investors toward Hong Kong and Chinese companies
in general, including us, regardless of whether we have conducted any inappropriate activities. Furthermore, securities markets may from
time to time experience significant price and volume fluctuations that are unrelated to our operating performance, which may have a material
and adverse effect on the trading price of our Ordinary Shares.

In addition to the above
factors, the price and trading volume of our Ordinary Shares may be highly volatile due to multiple factors, including the following:

  regulatory developments affecting us or our industry;  

  variations in our revenues, profit, and cash flow;  

  changes in the economic performance or market valuations  
  of other financial services firms;                        
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  actual or anticipated fluctuations in our quarterly results      
  of operations and changes or revisions of our expected results;  
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  changes in financial estimates by securities research analysts;  
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  detrimental negative publicity about us, our services, our                             

  announcements by us or our competitors of new service offerings,                                  

  additions to or departures of our senior management;  

  litigation or regulatory proceedings involving us, our officers,  

  release or expiry of lock-up or other transfer restrictions  

  sales                                                        

Any of these factors may
result in large and sudden changes in the volume and price at which our Ordinary Shares will trade. As a result of this volatility, investors
may experience losses on their investment in our Ordinary Shares. A decline in the market price of our Ordinary Shares also could adversely
affect our ability to issue additional Ordinary Shares and our ability to obtain additional financing in the future. No assurance can
be given that an active market in our Ordinary Shares will develop or be sustained. If an active market does not develop, holders of our
Ordinary Shares may be unable to readily sell the shares they hold or may not be able to sell their shares at all. In the past, shareholders
of public companies have often brought