Company: BGHL
Filing Date: 2025-09-12
Form Type: F-1/A
Source: 0001213900-25-087202
Chunk: 32

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-09-12
Form: F-1/A
Chunk 32
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 option, right or warrant to purchase, lend or otherwise transfer or dispose of, directly or indirectly, any Ordinary Shares or any other securities convertible into or exercisable or exchangeable for Ordinary Shares, or enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of Ordinary Shares. See “Shares Eligible for Future Sale — Lock-Up Agreements” and “Underwriting — Lock-Up Agreements.” |
|                        |     | In addition, the Company has agreed not to file or cause to be filed any registration statement with the SEC relating to the offering of any Ordinary Shares of the Company or any securities convertible into or exercisable or exchangeable for Ordinary Shares of the Company for a period of 12 months after the date of this prospectus, other than post-effective amendments to the Registration Statement of which this prospectus is a part.                                                                                                                                                                                                                                                                          |
| Payment and settlement |     | The underwriters expect to deliver the Ordinary Shares against payment on [*], 2025.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| Risk factors           |     | The Ordinary Shares offered hereby involve a high degree of risk. You should read “Risk Factors” beginning on page 13 for a discussion of factors to consider before deciding to invest in our Ordinary Shares.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

12 RISK FACTORS 01-Risks Related to Doing Business in Hong Kong All of our operations are in Hong Kong. However, due to the long-arm application of the current PRC laws and regulations, the PRC government may exercise significant direct oversight and discretion over the conduct of our business and may intervene or influence our operations, at any time, or may exert more control over offerings conducted overseas and/or foreign investment in China and Hong Kong-based issuers, which could result in a material change in our operations and / or the value of the securities of the Company . Our Operating Subsidiaries in Hong Kong may be subject to laws and regulations of Mainland China, which may impair our ability to operate profitably and result in a material negative impact on our operations and / or the value of our Ordinary Shares. Furthermore, the changes in the policies, regulations, rules, and the enforcement of laws of the PRC may also occur quickly with little advance notice and our assertions and beliefs of the risk imposed by the PRC legal and regulatory system cannot be certain. Our operating subsidiary is located and operates its business in Hong Kong, a special administrative region of the PRC. The operating subsidiary does not