Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 18

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 18
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 our revenue effectively.

Some of our revenue is denominated
in Renminbi. As a result, restrictions on currency exchange may limit our ability to use revenue generated in Renminbi to fund any business
activities we may have outside China in the future or to make dividend payments to our shareholders in U. S. dollars. Under current PRC
laws and regulations, Renminbi is freely convertible for current account items, such as trade and service-related foreign exchange transactions
and dividend distributions. However, Renminbi is not freely convertible for direct investment or loans or investments in securities outside
China, unless such use is approved by SAFE. For example, foreign exchange transactions under our subsidiary’s capital account, including
principal payments in respect of foreign currency-denominated obligations, remain subject to significant foreign exchange controls and
the approval requirement of SAFE. These limitations could affect our ability to convert Renminbi into foreign currency for capital expenditures.
To the extent cash and/or assets in the business is in the PRC/Hong Kong or a PRC/Hong Kong entity, the funds and/or assets may not be
available to fund operations or for other use outside of the PRC/Hong Kong due to interventions in or the imposition of restrictions and
limitations on the ability of us or our subsidiaries by the PRC government to transfer cash and/or assets. And the Chinese government
is further strengthening the control of foreign exchange, we will not be able to change the Chinese government’s decision in our
own power.

Risks of acts of God, acts of war and terrorism, natural disasters,
riots, epidemics and other disasters.

The economy, infrastructure
and livelihood of the people of the PRC, Hong Kong, Taiwan and Macau or such other jurisdictions may be materially and adversely affected
by acts of God, acts of war and terrorism, natural disasters, riots, epidemics and other disasters which are beyond our control. Our business,
financial condition and results of operations may be adversely affected if these events occur.

For example, epidemics threaten
people’s lives and may adversely affect their livelihood as well as their living and consumption patterns. The occurrence of an
epidemic is beyond our control, and we cannot assure you that the outbreak of coronavirus (including COVID-19), severe acute respiratory
syndrome, the H5N1 strain of avian influenza, the H1N1 strain of swine flu, the Zika virus or any other epidemics or pandemics will not
happen. Any epidemic or