Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 76

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4
Chunk 76
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 obligation is satisfied.

Since 2022, as part of our IPO sponsorship services,
the Grande Capital has also started participating in underwriting syndicates for those IPOs that the Grande Capital acted as sponsors,
in return for underwriting commissions.

(2) Corporate financial advisory services

Grande Capital also provides a wide range of corporate
financial advisory services to clients, which can be broadly classified into the following 3 categories:

General advisory services: these mainly
include (i) advisory works for private companies, public companies listed on HKSE, as well as their shareholders, advising them on
the terms and structures of proposed transactions, such as takeovers, merger & acquisitions, and investment, and the relevant implications
of the Hong Kong regulatory framework, which primarily include the HK Listing Rules and HK Takeovers Codes, in relation to the transactions;
and (ii) project coordination works for clients pursuing listing on other stock exchanges, such as on U. S. exchanges. Our Operating
Subsidiary charges a fixed fee payable by progress payment based on achievement of certain milestones, such as submission to the regulators,
receiving approvals from the regulators and/or publishing the relevant documents on the HKSE.

Independent financial advisory services: these
mainly include providing advice to the independent board committee and independent shareholders of companies listed on HKSE rendering
recommendation and opinions, in return for a fixed fee paid by progress payment based on achievement of certain milestones, such as submission
to the regulators, receiving approvals from the regulators and/or publishing the relevant documents on the HKSE.

Compliance advisory services: these mainly
include advisory works to listed companies in Hong Kong in relation to post-listing compliance matters, in return for a monthly fee.

(3) Referral services

Since mid-2024, Grande Capital also provide referral
services to other professional parties, such as financial institutions, for equity and debt fund raising exercises, for referral fees.
Occasionally we may on a case by case basis come across fund-raising exercises which require the introduction of other professional parties
in which we may obtain referral fees. Such referral fee is generally based on a percentage of the fee charged by our clients in the particular
fund-raising exercises.

The table below sets out a breakdown of our revenue
by business segments for the years ended March 31, 2025, 2024 and 2023:

                                             For the years ended                                For the years ended                                           
                                             March 31,                                          March 31,                                                     
                                             2025