Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 181

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 7
Chunk 181
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Item
7. Major Shareholders and Related Party Transactions

  Major Shareholders  

Please
refer to “ Item 6. Directors, Senior Management and Employees - E. Share Ownership.”

  Related Party Transactions  

Employment
Agreements and Indemnification Agreements

See “ Item 6. Directors, Senior Management and Employees - C. Board Practices - Employment Agreements and Indemnification
Agreements.”

Other
Related Party Transactions

Set forth below are the related
party transactions of our company that occurred during the years ended June 30, 2025, 2024, 2023 and up to the date of this report:

List
of Related Parties

  Name                             Relationship               
  Noah Trust (Asia) Limited        Mr. Kenneth But being one  
  Nebula 360 Services Limited      Raymond, brother of Mr.    

Balance
with a related party:

                                      As of June 30,                                  
                                      2024                            2025      2025  
                                      HKD                             HKD       US$   
 ──────────────────────────────────────────────────────────────────────────────────────
  Prepayment to a related party:                                                      
  Nebula 360 Services Limited         $                   78,086      $         $     

Set
forth below are the related party transactions of our company that occurred during the past three fiscal years up to the date of this
report.

Transactions
with related parties:

On
November 1, 2019, Noah Trust (Asia) Limited (“ Noah”), of which Mr. Yiu Kong Kenneth But (“ Mr. Kenneth But”) being
one of its directors, signed a service agreement with the Company. Under the agreement, the Group will provide payroll outsourcing service
to Noah for HKD1,000 per month for a term of one year, as of the date of this report, other than we changed the pricing from HKD1,000
to HKD500 per month, since May 2020, through verbal amendment, the contract remains valid.

On
January 1, 2024, Mr. Lao Wai Man Raymond (“ Raymond”), brother of Mr. Wai Hong Lao (“ Mr. Lao”), acted as the director
of Nebula 360 Services Limited (“ Nebula”) and signed a service agreement with the Company. Under the agreement, Nebula will
provide employment service to the Group for US$500 per employee per month for a term of one year and will automatically be renewed for
another year