Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 55

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4
Chunk 55
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Item 4. Information on the Company

  History and Development of the Company.  

Galaxy Payroll Group Limited
(the “ Company”) was incorporated in the British Virgin Islands on August 26, 2021 under the BVI Business Companies Act (Revised
Edition 2020) as amended as a BVI business company with members’ limited liability in preparing for the Listing, and is the holding
company of our Group. Our Company was incorporated as part of the Reorganization, the details of which are set out in “ Reorganization”
below in this section.

Our history can be traced
back to April 2013 when Mr. Lao, Mr. But and Mr. Yeung, being our Founder Shareholders and executive officers, and an independent third
party (the “ Former Shareholder”), through Galaxy (Seychelles), founded our Group by acquiring Galaxy Payroll (HK) and Galaxy
Solutions Partner, our first two operating subsidiaries in Hong Kong. Each of Mr. Lao, Mr. But, Mr. Yeung and the Former Shareholder held
25% shareholding in Galaxy (Seychelles) until the Former Shareholder disposed of the shares he held in Galaxy (Seychelles) in April 2015.
The Former Shareholder is a member of the senior management of a subsidiary of the Major In-country Partner. Our Group principally engages
in payroll outsourcing and employment services.

Upon the acquisition of Galaxy
Payroll (HK) in 2013, we commenced our business in Hong Kong and entered into contracts for the provision of payroll outsourcing and employment
services with our customers. Our customers included (i) channels which are global human resources service providers engaged by companies/organizations
to handle payroll and employment related matters for their branch offices in different regions; and (ii) end-users that outsource their
payroll or employment functions to us directly. The end-users of our services included mainly multinational companies/organizations engaging
in a wide variety of industries. For payroll outsourcing services, a majority of our end-users during the years ended June 30, 2025, 2024
and 2023 engaged in the retail and trading, industrial, IT, financial and professional services industries. For employment services, a
majority of our end-users during the years ended June 30, 2025, 2024 and 2023 engaged in the IT, retail and trading, industrial, professional
institution and education and healthcare industries. In the same