Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 86

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4
Chunk 86
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2024
and 2023 engaged in the IT, retail and trading, industrial, professional institution and education and healthcare industries. We have
established stable business relationships with our major customers.

IN-COUNTRY PARTNERS

As of the date of this report,
we cooperated with eight in-country partners to provide local support in relation to human resources in the PRC, including the Major In-country
Partner which we have been cooperating with since the founding of our Group. We also cooperated with one in-country partner in Japan,
one in-country partner in Thailand and Malaysia, one in-country partner in Australia, one in-country partner in India, one in-country
partner in Indonesia, one in-country partner in Bangladesh, one in-country partner in Taiwan, one in-country partner in Singapore and
one in-country partner in Vietnam, one in-country partner in Hong Kong and one in-country partner in Thailand to provide local support
in relation to human resources.

The Major In-country Partner

During the year ended June
30, 2025 and up to the date of this report, we principally cooperated with the Major In-country Partner in the PRC, China-Key HR Outsourcing
Co., Limited, which is an independent third party, on a non-exclusive basis to provide payroll outsourcing services and employment services
in the PRC as our executive Directors consider that cooperating with the Major In-country Partner is an efficient way to minimize our
business risks and legal risks, is cost-effective and is in the best interest of our Group, having taken into account the qualifications
and quality of services provided by the Major In-country Partner and its subsidiaries (which are based in Shanghai, the PRC), the cost
of engaging the Major In-country Partner and its subsidiaries and the local knowledge and support of the Major In-country Partner and
its subsidiaries. We have been cooperating with the Major In-country Partner since the founding of our Group in 2013 and have maintained
good business relationship with it since then. The Major In-country Partner was incorporated in Hong Kong with limited liability in December
2004 and is a human resources outsourcing service provider holding the Labor Dispatch Permit, with its headquarter in Shanghai, the PRC.
It provides services in more than 80 cities in the PRC to approximately 700 customers, including customers other than ours. As of the
date of this report, one of the founders of our Group who ceased to be a shareholder of our Group in 2015 was a member of the senior management
of a subsidiary of