Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 53

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 53
---
 Act, and we may take advantage of certain exemptions from requirements applicable to other public companies
that are not emerging growth companies, including, most significantly, not being required to comply with the auditor attestation requirements
of Section 404 of Sarbanes-Oxley for so long as we remain an emerging growth company. As a result, if we elect not to comply with such
auditor attestation requirements, our investors may not have access to certain information they may deem important.

The JOBS Act also provides
that an emerging growth company does not need to comply with any new or revised financial accounting standards until such date that a
private company is otherwise required to comply with such new or revised accounting standards. We do not plan to opt out of such exemptions
afforded to an emerging growth company. As a result of this election, our financial statements may not be comparable to companies that
comply with public company effective data.

We will incur increased costs as a result
of being a public company, particularly after we cease to qualify as an “emerging growth company.”

We will incur significant
legal, accounting, and other expenses as a public company that we did not incur as a private company. The Sarbanes-Oxley Act of 2002 (“ Sarbanes-Oxley”),
as well as rules subsequently implemented by the SEC, impose various requirements on the corporate governance practices of public companies.
We are an “emerging growth company,” as defined in the JOBS Act and will remain an emerging growth company until the earlier
of (1) the last day of the fiscal year (a) following the fifth anniversary of the completion of our initial public offering, (b) in which
we have total annual gross revenue of at least $1.235 billion, or (c) in which we are deemed to be a large accelerated filer, which means
the market value of our Ordinary Shares that is held by non-affiliates exceeds $700 million as of the prior June 30; and (2) the date
on which we have issued more than $1 billion in non-convertible debt during the prior three-year period. An emerging growth company may
take advantage of specified reduced reporting and other requirements that are otherwise applicable generally to public companies. These
provisions include exemption from the auditor attestation requirement under Section 404 in the assessment of the emerging growth company’s
internal control over financial reporting and permission to delay the adoption of new or revised accounting standards until such time
as those