Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 222

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 15
Chunk 222
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 reporting
requirements to formalize key controls over financial reporting and to prepare consolidated financial statements and related disclosures;
and (ii) a lack of an effective control framework in place and critical information technology general controls (“ ITGC”) have
design deficiencies in areas including logical access, privileged access and cybersecurity.

We intend to implement measures
designed to improve our internal control over financial reporting to address the underlying causes of these material weaknesses, including
(i) setting up a financial and system control framework with formal documentation of polices and controls in place; and (ii) setting up
an ITGC and system control framework with formal documentation of polices and controls in place.

However,
we cannot assure you that all these measures will be sufficient to remediate our material weakness in time, or at all. See “ Item
3. Key Information - D. Risk Factors - Risks Related to O

As a company with less than
US$1.235 billion in revenue for the fiscal year of 2025, we qualify as an “emerging growth company” pursuant to the JOBS Act.
An emerging growth company may take advantage of specified reduced reporting and other requirements that are otherwise applicable generally
to public companies. These provisions include exemption from the auditor attestation requirement under Section 404 of the Sarbanes-Oxley
Act of 2002 in the assessment of the emerging growth company’s internal control over financial reporting.

Changes
in Internal Control over Financial Reporting

Other
than the remediation of material weaknesses as described above, there has been no change in our internal controls over financial reporting.

Item
16. [Reserved]