Company: GRAN
Filing Date: 2025-03-14
Form Type: CORRESP
Source: 0001213900-25-023986
Chunk: 4

Company: Grande Group Ltd/HK
Filing Date: 2025-03-14
Form: CORRESP
Chunk 4
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 advisory fees, not the individual clients or retail investors. This is different from the services full-service financial institutions or securities brokerage and dealing service providers (some of which, as we are aware of, are penalized by relevant PRC authorities and banned from offering trading services to Mainland China clients, alleging such firms unlawfully offered offshore securities trading services in Mainland China, unlawfully solicited Mainland China retail investors) provide. Our Operating Subsidiary does not, and cannot, under its licensing conditions by the HKSFC and the current regulatory regime in Hong Kong, provide securities brokerage and trading or investment management services to individual clients, the public or retail investors, regardless of the jurisdictions where its clients are located. |

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| (b) | Another difference from the full-service financial institutions or securities brokerage and dealing service providers is that, due to the licensing conditions imposed by the HKSFC, our Operating Subsidiary is not permitted to hold client assets, i.e., establishing or maintaining any client accounts that would involve holding or controlling client funds or securities, and accepting, managing, or safeguarding any money or securities on behalf of clients, and our Operating Subsidiary is not permitted to engage in the brokerage, trading or dealing in securities on behalf of its clients, unless such underwriting activity relates to listing sponsor engagements of our Operating Subsidiary under the “Sponsor Coupling” requirement. Due to such licensing conditions and restrictions, the operation and business of our Operating Subsidiary do not involve cross-border transfers of Chinese or other currency with Mainland China clients between Hong Kong and Mainland China, nor does our Operating Subsidiary facilitate such cross-border transfers between Hong Kong and Mainland China; |

| (c) | The business and operation of the Operating Subsidiary are strictly confined to advisory services in relation to corporate finance and do not involve the holding or controlling of the client’s assets and the maintenance or operation of client accounts that would involve holding, transferring, or controlling client funds or assets. All of our current and former clients and projects, including companies in Mainland China, are originated from the professional networks of our management and project execution team, referrals, and direct approach by the clients. Due to the business model of, and the nature of the services provided by, our Operating Subsidiary, while we maintain a company website that introduces our services and showcases our completed projects, we and our Operating Subsidiary do not advertise