Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 2

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 2
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 these laws and regulations are relatively new, and because of the limited volume
of published cases and their lack of force as precedents, interpretation and enforcement of these laws and regulations involve significant
uncertainties. New laws and regulations that affect existing and proposed future businesses may also be applied retroactively. In addition,
there have been constant changes and amendments of laws and regulations over the past 30 years in order to keep up with the rapidly changing
society and economy in China. Because government agencies and courts provide interpretations of laws and regulations and decide contractual
disputes and issues, their inexperience in adjudicating new business and new polices or regulations in certain less developed areas causes
uncertainty and may affect our business. Consequently, we cannot predict the future direction of Chinese legislative activities with respect
to either businesses with foreign investment or the effectiveness on enforcement of laws and regulations in China. The uncertainties,
including new laws and regulations and changes of existing laws, as well as judicial interpretation by inexperienced officials in the
agencies and courts in certain areas, may cause possible problems to foreign investors. In addition, uncertainties regarding the enforcement
of laws and the fact that rules and regulations in China can change quickly with little advance notice, along with the risk that
the Chinese government may intervene or influence our operations at any time, or may exert more control over offerings conducted overseas
and/or foreign investment in China-based issuers could result in a material change in our operations, financial performance and/or the
value of our common stock or impair our ability to raise money. Although the PRC government has been pursuing economic reform policies
for more than two decades, the PRC government continues to exercise significant control over economic growth in the PRC through the allocation
of resources, controlling payments of foreign currency, setting monetary policy and imposing policies that impact particular industries
in different ways. We cannot assure you that the PRC government will continue to pursue policies favoring a market oriented economy or
that existing policies will not be significantly altered, especially in the event of a change in leadership, social or political disruption,
or other circumstances affecting political, economic and social life in the PRC. Any adverse changes in Chinese laws and regulations and
the Chinese government’s significant oversight and discretion over the conduct of our business could significantly limit or completely
hinder our ability to offer or continue to offer securities to investors and cause the value of our securities to significantly decline
or be worthless and we may also incur material costs to ensure compliance, be subject to fines and