Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 63

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 63
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 not be covered securities and we would be subject
to regulations in each state in which we offer our securities.

Nasdaq may apply
additional and more stringent criteria for our continued listing because insiders will hold a large portion of the Company’s listed
securities.

Nasdaq Listing Rule 5101
provides Nasdaq with broad discretionary authority over the continued listing of securities in Nasdaq and Nasdaq may use such discretion
to apply additional or more stringent criteria for the continued listing of particular securities, or suspend or delist particular securities
based on any event, condition, or circumstance that exists or occurs that makes continued listing of the securities on Nasdaq inadvisable
or unwarranted in the opinion of Nasdaq, even though the securities meet all enumerated criteria for continued listing on Nasdaq. In addition,
Nasdaq has used its discretion to deny continued listing or to apply additional and more stringent criteria in the instances, including,
but not limited to: (i) where the company engaged an auditor that has not been subject to an inspection by the PCAOB, an auditor that
PCAOB cannot inspect, or an auditor that has not demonstrated sufficient resources, geographic reach, or experience to adequately perform
the company’s audit; (ii) where the company planned a small public offering, which would result in insiders holding a large portion
of the company’s listed securities. Nasdaq was concerned that the offering size was insufficient to establish the company’s
initial valuation, and there would not be sufficient liquidity to support a public market for the company; and (iii) where the company
did not demonstrate sufficient nexus to the U. S. capital market, including having no U. S. shareholders, operations, or members of the
board of directors or management. The insiders of our Company will hold a large portion of the Company’s listed securities. Nasdaq
might apply the additional and more stringent criteria for our continued listing.

Our Class A Ordinary
Shares may be thinly traded and you may be unable to sell at or near ask prices or at all if you need to sell your shares to raise money
or otherwise desire to liquidate your shares.

Our Class A Ordinary
Shares may be “thinly-traded”, meaning that the number of persons interested in purchasing our Class A Ordinary Shares at
or near bid prices at any given time may be relatively small or non-existent. This situation may be attributable to a number of factors,
including the fact that we are relatively unknown to stock analysts, stock brokers, institutional