Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 61

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4
Chunk 61
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, Galaxy HR
(SZ) had a registered share capital of RMB2,000,000 and was wholly-owned by Galaxy Payroll (China).

Galaxy HR (SZ) principally
engages in the provision of payroll outsourcing and employment services in the PRC. As part of the Reorganization, Galaxy HR (SZ) becomes
an indirect wholly-owned subsidiary of our Company. Please refer to “ Reorganization” below in this section for further details.

Reorganization

We reorganized our corporate
structure in preparation for, and in connection with the Listing. Following completion of the Reorganization, our Company became the holding
company of our Group. The steps of Reorganization are set out below.

1. Incorporation of our Company

Galaxy Payroll Group
Limited was incorporated in the British Virgin Islands on August 26, 2021 as a BVI business company. The initial authorized share
capital of our Company is 50,000 Ordinary Shares, par value US$1.00 per share. On December 19, 2022, the Company filed Amended and
Restated Charter with the Registrar to increase our authorized shares from 50,000 Ordinary Shares, par value of US$1 per share, to
unlimited number of Ordinary Shares, par value of US$0.000625 per share and effectuated a forward split of all issued and
outstanding shares at a ratio of 1,600:1. On September 8, 2025, the Group has been unanimously approved a consolidation of all issued and unissued ordinary
shares at a ratio of ten (10) shares to one (1) share of the same class (the “ Share Consolidation”) and the Share Consolidation
was effective. The Share Consolidation applied to both Class A and Class B ordinary shares, with the par value per share increasing from
US$0.000625 to US$0.00625 following the consolidation.

2. Incorporation of Melkweg Holdings Limited

Melkweg Holdings Limited
was incorporated in the Cayman Islands on October 31, 2019 as an exempted company with members’ limited liability. The initial authorized
share capital of Melkweg Holdings Limited is HKD380,000 (US$48,932) divided into 38,000,000 Shares of HKD0.01 (US$0.001) each. Upon incorporation
of Melkweg Holdings Limited, on October 31, 2019, it allotted and issued