Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 15

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 15
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 in Annex III are currently limited under the Basic Law to those which
fall within the scope of defense and foreign affairs, as well as other matters outside the limits of the autonomy of Hong Kong. PRC laws
and regulations relating to data protection, cybersecurity and the anti-monopoly have not been listed in Annex III and, thus, they
may not apply directly to Hong Kong.

The PRC laws and regulations
are evolving, and their enactment timetable, interpretation and implementation may be revised from time to time. To the extent any PRC
laws and regulations become applicable to us and our subsidiaries, we and our subsidiaries may be subject to the risks associated with
the legal system in Mainland China, including with respect to the enforcement of laws and the possibility of changes of rules and regulations,
which could materially and adversely affect our financial condition and results of operations.

It remains uncertain whether the PRC government
will adopt additional requirements or extend the existing requirements to apply to our Operating Subsidiary located in Hong Kong.
It is also uncertain whether the Hong Kong government will be mandated by the PRC government, despite the constitutional constraints
of the Basic Law, to control over offerings conducted overseas and/or foreign investment of entities in Hong Kong, including our
Operating Subsidiary. Any actions by the PRC government to exert more oversight and control over offerings (including of businesses whose
primary operations are in Hong Kong) that are conducted overseas and/or foreign investments in Hong Kong-based issuers
could significantly limit or completely hinder our ability to offer or continue to offer securities to investors. If there is significant
change to current political arrangements between Mainland China and Hong Kong, or the applicable laws, regulations, or interpretations
change, and, in such event, if we are required to obtain such approvals in the future and we do not receive or maintain the approvals
or is denied permission from mainland China or Hong Kong authorities, we will not be able to continuously list our Class A Ordinary
Shares on a U. S. exchange, or continue to offer securities to investors, which would materially affect the interests of the investors
and cause significant the value of our Class A Ordinary Shares significantly decline or be worthless.

The
enactment of the law of the PRC on Safeguarding National Security in the Hong Kong Special Administrative Region (the “ Hong Kong
National Security Law”) could impact our Hong Kong subsidiaries, which represent substantially all of our business.

On
June 30, 2020, the Standing Committee of the P