Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 163

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4A
Chunk 163
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276,439  

Cash provided by (used in) operating activities:

For the year ended June 30, 2025, net cash used in operating activities
of HKD27,707,982 was primarily resulted from the net loss of HKD27,568,713 (US$3,511,983) as adjusted for non-cash items and change in
operating activities. Adjustments for non-cash items consisted of depreciation of property and equipment, HKD106,900 (US$13,618), amortization
of right-of-use assets, HKD1,120,629 (US$142,757) and reversal of provision for doubtful debts, HKD77,218 (US$9,837). Change in operating
activities included an increase in account receivables, HKD948,561 (US$120,836), a decrease in prepayment, deposits and other receivables,
HKD1,327,724 (US$169,139), an increase in accrued expenses and other payables, HKD11,739 (US$1,495), an increase in account payable, HKD6,799
(US$866), a decrease in income tax payables, HKD580,102 (US$73,899) and a decrease in lease liabilities, HKD1,107,179 (US$141,044).

For the year ended June 30,
2024, net cash provided by operating activities of HKD6,725,500 primarily resulted from the net income of HKD5,505,489 as adjusted for
non-cash items and change in operating activities. Adjustments for non-cash items consisted of depreciation of property and equipment,
HKD110,206, amortization of right-of-use assets, HKD1,128,557 and provision for credit losses, HKD101,598. Change in operating activities
included an increase in account receivables, HKD407,382, a decrease in prepayment, deposits and other receivables, HKD1,152,444, an increase
in accrued expenses and other payables, HKD803,937, a decrease in account payable, HKD24,253, a decrease in income tax payables, HKD485,882
and a decrease in lease liabilities, HKD1,159,214.

For the year ended June 30,
2023, net cash provided by operating activities of HKD16,086,260 primarily resulted from the