Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 64

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4
Chunk 64
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 the instructions of Galaxy (Seychelles). The above share transfer was legally completed
and settled on January 10, 2020.

Upon the completion of the
aforesaid share transfers, Galaxy Payroll (HK), Galaxy Payroll (TW), Galaxy Solutions Partner and Galaxy Payroll (China) became the direct
wholly- owned subsidiaries of Melkweg BVI, Galaxy HR (TW) and Galaxy HR (SZ) became the indirect wholly-owned subsidiaries of Melkweg
BVI and Galaxy HR (Macau) was held as to 98% by Melkweg BVI through Galaxy Payroll (HK).

5. Share transfer of Galaxy HR (Macau)

Upon incorporation of Galaxy
HR (Macau), Mr. Lao held one quota of MOP1,000 in Galaxy HR (Macau), representing 2.0% of the equity interest in Galaxy HR (Macau). On
December 13, 2019, Mr. Lao transferred his one quota in Galaxy HR (Macau) to Galaxy Solutions Partner at a consideration of MOP1,000.

The above transfer was legally
completed and settled on December 13, 2019. Upon completion of the said transfer, Galaxy HR (Macau) was held as to 98.0% by Galaxy Payroll
(HK) and 2.0% by Galaxy Solutions Partner and thereby became an indirect wholly-owned subsidiary of our Company.

6. Share swap

On January 17, 2020, Pine
Mountain, Agapao Investment and JEAN Oceania transferred their respective interest, that was 4,001 shares, 4,001 shares and 4,001 shares
in Melkweg BVI, representing the entire issued shares of Melkweg BVI to our Company at a total consideration of US$12,003.00. The
consideration was determined with reference to the par value of the shares transferred. The consideration for the acquisition was satisfied
by:

  (a)      the                                                                                                                        

  (b)      the                                                                                                                                    

  (c)      the                                                                                                                    

The above transfers were
legally completed and settled on January 17, 2020. Upon completion of the said transfers, Melkweg BVI becomes a direct wholly-owned subsidiary
of our Company, and Galaxy Payroll (HK), Galaxy Payroll (TW), Galaxy Solutions Partner, Galaxy Payroll (China), Galaxy HR (TW), Galaxy
HR (