Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 18

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 18
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 special administrative region of the PRC and the basic policies of the PRC regarding Hong Kong are reflected in the Basic Law,
namely, Hong Kong’s constitutional document, which provides Hong Kong with a high degree of autonomy and executive, legislative
and independent judicial powers, including that of final adjudication under the principle of “one country, two systems”.
However, there is no assurance that there will not be any changes in the political arrangement between PRC and Hong Kong and the
economic, political and legal environment in Hong Kong in the future. Since all of our operations are based in Hong Kong, any
change of such political arrangements may pose an adverse impact to the stability of the economy in Hong Kong, thereby directly
and adversely affecting our results of operations and financial positions.

Based
on certain recent development including the Hong Kong National Security Law that was passed in June 2020, the U. S. State
Department has indicated that the United States no longer considers Hong Kong to have significant autonomy from China and President
Trump issued an executive order and signed into law the HKAA, to remove Hong Kong’s preferential trade status and to authorize
the U. S. administration to impose blocking sanctions against individuals and entities who are determined to have materially contributed
to the erosion of Hong Kong’s autonomy. The United States may impose the same tariffs and other trade restrictions on
exports from Hong Kong that it places on goods from Mainland China. These and other recent actions may represent an escalation in
political and trade tensions involving the U. S, Mainland China, and Hong Kong, which could potentially harm our business. It is
difficult to predict the full impact of the HKAA on Hong Kong and companies with operations in Hong Kong like us. Furthermore,
legislative or administrative actions in respect of China-U. S. relations could cause investor uncertainty for affected issuers,
including us, and the market price of our Class A Ordinary Shares could be adversely affected.

The
Hong Kong regulatory requirement of prior approval for the transfer of shares in excess of a certain threshold may restrict future
takeovers and other transactions.

Section 132
of the Securities and Futures Ordinance (Chapter 157 of the Laws of Hong Kong) (the “ SFO”) requires prior approval
from the HKSFC for any company or individual to become a substantial shareholder of a HKSFC-licensed corporation in Hong Kong.
Under the SFO, a person will be a “substantial shareholder” of a licensed company if he, either