Company: MEGL
Filing Date: 2025-06-09
Form Type: F-1/A
Source: 0001641172-25-014301
Chunk: 79

Company: Magic Empire Global Ltd
Filing Date: 2025-06-09
Form: F-1/A
Chunk 79
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 they fall due and to periodically report their financial positions to the SFC. New entrants and existing licensed corporations may face challenges from meeting the requirements regulated by the FRR.

Fierce competition

Various licensed corporations, including international large-scale investment banks, PRC-funded securities groups, and local securities companies, are competing intensively for larger market share. New entrants need to compete with leading players or other established players in the industry who usually have years of experience, pool of talents, sound reputation, large client base and network accumulation in the market, with mature business models and operational processes.

Human capital constraint

The corporate financial service industry is labor-intensive and the requirement to employ skilled professionals as Licensed Representatives and Responsible Officers are critical for the provision of quality services. It may be costly for new entrants to comply with and fulfil licensing conditions by attracting or retaining such skilled professionals.

| 42 |

<div align='center'>USE OF PROCEEDS</div>

Based upon the assumed public offering price of $[0.54] per Class A ordinary share, we estimate that we will receive net proceeds from this offering of approximately $[1,748,293], $[3,672,043], $[5,595,793] and $[7,519,543] assuming 25%, 50%, 75% and 100% of the offering being completed, after deducting the Placement Agent’s commissions, non-accountable expense allowance and estimated offering expenses payable by us. However, because this is a best-efforts offering and there is no minimum offering amount required as a condition to the closing of this offering, the actual offering amount, placement agent fees, and net proceeds to us are not presently determinable and may be substantially less than the maximum amounts set forth on the cover page of this prospectus.

We plan to use the net proceeds of this offering as follows:

| Description of Use                                       |     | 25% completion of offering (%) |     |     | 50% completion of offering (%) |     |     | 75% completion of offering (%) |     |     | 100% completion of offering (%) |     |
| Strengthening of our corporate finance advisory business |     |                                |  70 |     |                                |  70 |     |                                |  70 |     |                                 |  70 |
| Working capital and other general corporate purposes     |     |                                |  30 |     |                                |  30 |     |                                |  30 |