Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 3

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 3
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 shareholders or directors that are Mainland China individuals.

Since
the commencement of our operations and as of the date of this annual report, neither we nor our Operating Subsidiary have been informed
by any PRC governmental authority, including the CSRC, of the violation of the undertaking or any obligations to the CSRC. We believe
our Operating Subsidiary and we have complied with all applicable laws and regulations in connection with the engagement with PRC clients
in Mainland China in all material respects. Nonetheless, we may face the risks and uncertainties associated with the legal system in
the Mainland China, complex and evolving PRC laws and regulation, and as to whether and how the recent PRC government statements and
regulatory developments, would be applicable to companies like our Operating Subsidiary and us, given the substantial operations of our
Operating Subsidiary in Hong Kong and the Chinese government may also exercise significant oversight over the conduct of business
in Hong Kong. For example, if the CSRC were to believe, in the process of execution of the projects undertaken by our Operating
Subsidiary, that the Operating Subsidiary is in violation of its undertakings to the CSRC, or failed to exercise proper diligence, or
has made misrepresentations to the CSRC or relevant PRC authority, the CSRC and PRC authorities may issue correction order and warnings,
impose of pecuniary penalties against us, the responsible staff, directors, or other officers of the Operating Subsidiary, and prohibit
us and our Operating Subsidiary from providing our services to the PRC domestic companies in Mainland China, thereby causing our Operating
Subsidiary to lose access to the Mainland China market. Furthermore, the Trial Administrative Measure explicitly stipulated that the
CSRC may also refer the relevant information concerning the alleged misconduct or violation to CSRC’s regulatory counterparts in
overseas jurisdiction, i. e., the HKSFC in Hong Kong, which governs and regulates the business operation of our Operation Subsidiary,
and as a result, we and our Operating Subsidiary could be subject to inquiries, reviews or investigations, disciplinary actions, revocation
or suspension of licenses, public or private reprimand or imposition of pecuniary penalties, by the HKSFC.

The
laws and regulations in Mainland China are evolving, and their enactment timetable, interpretation, enforcement, and implementation involve
significant uncertainties and may change quickly