Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 45

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 45
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 our initial public offering and could spend the proceeds in ways
that do not improve our results of operations or enhance the market price of our Ordinary Shares.

Our disclosure controls and procedures may
not prevent or detect all errors or acts of fraud.

After our initial public
offering, we have become subject to the periodic reporting requirements of the Exchange Act. We will design our disclosure controls and
procedures to provide reasonable assurance that information we must disclose in reports we file or submit under the Exchange Act is accumulated
and communicated to management, and recorded, processed, summarized, and reported within the time periods specified in the rules and forms
of the SEC. We believe that any disclosure controls and procedures, no matter how well-conceived and operated, can provide only reasonable,
not absolute, assurance that the objectives of the control system are met.

These inherent limitations
include the realities that judgments in decision-making can be faulty and that breakdowns can occur because of simple errors or mistakes.
Additionally, controls can be circumvented by the individual acts of a person, by collusion of two or more people or by an unauthorized
override of the controls. Accordingly, because of the inherent limitations in our control system, misstatements due to error or fraud
may occur and not be detected.

You may experience difficulties in effecting
service of legal process, enforcing foreign judgments or bringing actions in China against us or our management named in the annual report
based on foreign laws.

We conduct substantially
all of our operations in PRC and Hong Kong and substantially all of our assets are located in PRC and Hong Kong. In addition, three executive
officers, namely Mr. Lao, Mr. But and Mr. Yeung, and two of our management personnel, namely Ms. Lo and Mr. Wong, live in Hong Kong and
their nationalities are Hong Kong. One of our senior managements, namely Mr. Wu, lives in United Kingdom, but his nationality is Hong
Kong. As a result, it may be difficult for our shareholders to effect service of process upon us or those persons inside PRC or Hong Kong.
Although the enforcement of a foreign judgment may be enforced in Hong Kong at common law by bringing an action in a Hong Kong court
since the judgment may be regarded as creating a debt between the parties to it, direct recognition and enforcement in PRC or Hong Kong
of judgments of a court in any of these non-PRC jurisdictions in relation to any matter not subject to a binding arbitration provision
may be difficult,