Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 76

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4
Chunk 76
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 require the end-user to provide us with its business registration certificate,
certificate of incorporation, business license (for PRC company), tax registration certificate (for PRC company), housing provident funds
records (for PRC company) and social security certificate (for PRC company) to verify the existence and validity of the entity.

Signing of agreement

Once the background check
is completed, we enter into a master service agreement with our channel customer that engages us for the first time which serves as a
framework governing the services provided by our Group in the future for all end-users engaged through that channel customer. Our channel
customer then issues an engagement letter or confirmation email detailing the scope of services required by each of its end-users, service
fees and implementation procedures. For an end-user engaging our Group directly, we enter into an agreement with our end-user for the
services procured.

Project implementation

Formation of implementation group

After signing of an agreement
and issuance of an engagement letter, an implementation group will be formed comprising members of our Group, our channel customer and
our end- user. Members of our Group may include a division manager, an implementation manager and a team member. Member of the channel
may include an implementation manager to facilitate communication among the channel, the end-user and our Group. Member of the end-user
may include a human resources personnel.

Creation of implementation checklist and payroll calendar

The implementation group
then formulates an implementation checklist specifying the tasks to be performed during the implementation stage, the implementation timeline
and procedures. The implementation group will also agree on a payroll calendar specifying the schedule for each major task to be performed
for that year, including the date for provision of employees’ documents, calculation of salaries and other pay items, issuance of
invoice, receipt of funds, instructions to bank for payment and dispatch of funds. Towards the end of the then existing payroll calendar
period, the following 12-month payroll calendar will be formulated.

Collection of employees’ information

Based on the payroll calendar,
the implementation group will collect employees’ information in an agreed format for inputting into the system in the latter stage.
Information collected include the employees’ name, position, identity card number, marital status, bank account details and salary.

Configuration of payroll system and performance of test run

The implementation group
discusses among itself the logics of the payroll system and configure the system based on the logics. The implementation group will then
input or upload employees’ information collected into the system. As part of