Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 60

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4
Chunk 60
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 currently does not engage in any business activity. As part of the Reorganization, Galaxy Payroll (China)
becomes an indirect wholly-owned subsidiary of our Company. Please refer to “ Reorganization” below in this section for further
details.

Galaxy HR (Macau)

Galaxy HR (Macau) was incorporated
in Macau on July 26, 2016 as a limited liability company and subsequently commenced its business. Upon its incorporation, Galaxy HR (Macau)
had a registered capital of MOP50,000 fully paid and held by Galaxy Payroll (HK) as to MOP49,000 and Mr. Lao as to MOP1,000.

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

Galaxy HR (TW)

Galaxy HR (TW) was incorporated
in Taiwan on March 21, 2018 as a limited liability company and subsequently commenced its business. Galaxy HR (TW) was incorporated upon
the instructions of Mr. Lao, Mr. But and Mr. Yeung with a paid-in capital of NT$5,380,000 which was paid by Mr. Lao Wai Man, brother of
Mr. Lao, our executive Director and Founder Shareholder, and was held on behalf of Mr. Lao, Mr. But and Mr. Yeung jointly at its incorporation.
On May 17, 2019, Mr. Lao Wai Man transferred the entire paid-in capital of Galaxy HR (TW) to Galaxy Payroll (TW) upon the instructions
of Mr. Lao, Mr. But and Mr. Yeung at a consideration of NT$5,380,000, which was determined with reference to the paid-in capital of Galaxy
HR (TW).

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

Galaxy HR (SZ)

Galaxy HR (SZ) was incorporated
in the PRC on March 7, 2018 as a limited liability company and subsequently commenced its business. Upon its incorporation