Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 87

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 8
Chunk 87
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ITEM
8. FINANCIAL INFORMATION

A.
Consolidated Statements and Other Financial Information.

See
“ Item 18. Financial Statements” for our audited consolidated financial statements.

Legal
Proceedings

As
of the date of this Annual Report, we are not a party to, and we are not aware of any threat of, any legal proceeding that, in the opinion
of our management, is likely to have a material adverse effect on our business, financial condition or operations.

Dividend
Policy

We
currently intend to retain all available funds and future earnings, if any, for the operation and expansion of our business and do not
anticipate declaring or paying any dividends in the foreseeable future. Any future determination related to our dividend policy will
be made at the discretion of our board of directors after considering our financial condition, results of operations, capital requirements,
contractual requirements, business prospects and other factors the board of directors deems relevant, and subject to the restrictions
contained in any future financing instruments.

  58  

For
the years ended December 31, 2024, 2023 and 2022, we declared and paid dividend of nil, HK$1,581,900 and HK$4,000,000, respectively in
relation to our retained profit.

The
declaration, amount and payment of any future dividends will be at the sole discretion of our board of directors, subject to compliance
with applicable BVI laws regarding solvency. Our board of directors will take into account general economic and business conditions,
our financial condition and results of operations, our available cash and current and anticipated cash needs, capital requirements, contractual,
legal, tax and regulatory restrictions and other implications on the payment of dividends by us to our shareholders or by our subsidiaries
to us, and such other factors as our board of directors may deem relevant.

Under
BVI law, our board of directors may authorize payment of a dividend to shareholders at such time and of such an amount as they determine
if they are satisfied on reasonable grounds that immediately following the dividend the value of our assets will exceed our liabilities
and we will be able to pay our debts as they become due. There is no further BVI statutory restriction on the amount of funds which may
be distributed by us by dividend.

As
we are a holding company, we rely on dividends paid to us by our subsidiaries for our cash requirements, including funds to pay any dividends
and other cash distributions to our shareholders, service any debt we