Company: CLIK
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001493152-25-019286
Chunk: 13

Company: Click Holdings Ltd.
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 13
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 by Domestic Companies, or the Trial Measures, and five supporting guidelines, which came into effect on March 31,
2023. Pursuant to the Trial Measures, (i) domestic companies that seek to offer or list securities overseas, both directly and indirectly,
shall complete filing procedures with the CSRC pursuant to the requirements of the Trial Measures within three working days following
their submission of IPOs or listing applications. If a domestic company fails to complete the required filing procedures or conceals
any material fact or falsifies any major content in its filing documents, such domestic company may be subject to administrative penalties,
such as an order to rectify, warnings and fines, and its controlling shareholders, actual controllers, the person directly in charge
and other directly liable persons may also be subject to administrative penalties, such as warnings and fines; (ii) if the issuer meets
both of the following criteria, the overseas offering and listing conducted by such issuer shall be deemed an indirect overseas offering
and listing by a PRC domestic company: (A) 50% or more of any of the issuer’s operating revenue, total profit, total assets or
net assets as documented in its audited CFS for the most recent fiscal year were derived from PRC domestic companies; and (B) the majority
of the issuer’s business activities are carried out in mainland China, or its main place(s) of business are located in mainland
China, or the majority of its senior management team in charge of its business operations and management are PRC citizens or have their
usual place(s) of residence located in mainland China. In such circumstances, where a PRC domestic company is seeking an indirect overseas
offering and listing in an overseas market, the issuer shall designate a major domestic operating entity responsible for all filing procedures
with the CSRC, and where an issuer makes an application for an IPO or listing in an overseas market, the issuer shall submit filings
with the CSRC within three business days after such application is submitted. Given that (i) we do not have any business operations within
the PRC; and (ii) we are not regarded as a Chinese domestic enterprise and do not meet any of the conditions stipulated by the Trial
Measures, we are not subject to CSRC filing requirement.

If
the Chinese government chooses to exert more oversight and control over securities offerings that are conducted overseas and/or foreign
investment in China-based issuers, such action may significantly limit or completely hinder our ability to offer or continue to offer