Company: GRAN
Filing Date: 2025-04-09
Form Type: F-1/A
Source: 0001213900-25-030179
Chunk: 141

Company: Grande Group Ltd/HK
Filing Date: 2025-04-09
Form: F-1/A
Chunk 141
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3 million for the year ended March 31, 2024. The increase was mainly due to the increase in net income before provision for income taxes. The effective tax rate remained relatively stable at 14.8% for the year ended March 31, 2023 and 15.7% for the year ended March 31, 2024, respectively. Net income We recorded net income of $1.8 million for the year ended March 31, 2024, compared to $1.3 million for the year ended March 31, 2023. Such increase was attributable to the increase in revenue and gross margin, partially offset by the increase in income tax expense. Liquidity and Capital Resources We financed our operations primarily through cash flows from operations and amounts due to related party, being Grande Holding Limited. Mr.Tak Kai Raymond, TAM, the majority shareholder of the Controlling Shareholder, is the source of the funds that the Controlling Shareholder loaned to the Company. The Company recorded a material change in the sources of funds financing our operations in the year ended March31, 2024. For the year ended March31, 2023, advance from a related party, being Grande Holding Limited, to which Mr.Tak Kai Raymond, TAM is the source of funds, amounting to $293,842, was a major source of funds for financing our operations. For the year ended March31, 2024, we recorded a significant increase in cash provided by operating activities from $228,964 for the year ended March31, 2023 to $1,157,742 for the year ended March31, 2024. The increase in cash provided by operating activities was mainly due to the increase of net income from $1,279,247 for the year ended March31, 2023 to $1,798,073 for the year ended March31, 2024. We derived sufficient cash from our operating activities for the year ended March31, 2024 and no longer have to rely on advances from Grande Holding Limited, of which Mr.Tak Kai Raymond, TAM is the source of funds, to finance our operations. Our ability to maintain sufficient cash provided by operating activities is dependent on our ability to maintain and expand our client 76

base, enhance our relationships with partners, make adjustments to our business operations to adopt to the business environment, attract and retain our employees, manage our future growth, improve the operational efficiency of our Operating Subsidiary and navigate