Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 166

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4A
Chunk 166
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10,855,128. 79% of the cash was deposited in financial
institutions in Hong Kong Special Administrative Region, and 21% of the cash was deposited in PRC, Macau and Taiwan. The amount of restricted
cash was released in Hong Kong Special Administrative Region since January 2024. There was no restricted cash balance held in Hong Kong,
PRC, Taiwan and Macau as of June 30, 2024. The current asset balance also included the following: accounts receivable, net, HKD2,556,073
and prepayment, deposits and other receivables, net, HKD2,787,564.

Current liabilities as of
June 30, 2024 was HKD18,862,498. This amount was composed of accrued expenses and other payables, HKD14,466,134, account payable, HKD41,823,
income tax payable, HKD3,258,920 and an operating lease obligation-current portion, HKD1,095,621.

The Group believes that its
current levels of cash and cash flows from operations will be sufficient to meet its anticipated cash needs for at least the next twelve
months. However, it may need additional cash resources in the future if it finds and wishes to pursue opportunities for investment, acquisition,
strategic cooperation or other similar actions. If it determines that its cash requirements exceed its amounts of cash on hand or if it
decides to further optimize its capital structure, it may seek to issue additional debt or equity securities or obtain credit facilities
or other sources of funding.

Contractual Obligations

The following table summarized
the contractual obligations of the Group as of June 30, 2025:

                                     Payments Due by Period                                                                                 
                                     Less Than                                1 to 3                   3 to 5      More              Total  
                                     HKD                                      HKD                      HKD         HKD               HKD    
  Contractual Obligations:                                                                                                                  
  Operating lease obligation         $                           980,663      $           299,984      $           $                 $      
  Total contractual obligations      $                           980,663      $           299,984      $           $                 $      

                                     Payments Due by Period                                                                                
                                     Less Than                                1 to 3                  3 to 5      More              Total  
                                     US$                                      US$                     US$         US$               US$    
  Contractual Obligations:                                                                                                                 
  Operating lease