Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 165

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4A
Chunk 165
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,686, proceeds from bank loans, HKD2,000,740 and repayments of bank loan, HKD2,934,016.

The following table set forth
a summary of the Group’s working capital as of June 30, 2025 and 2024:

                           As of June 30,                                                   
                           2024                                       2025            2025  
                           HKD                                         HKD             US$  
 ────────────────────────────────────────────────────────────────────────────────────────────
  Current assets           $                   16,198,765      $37,745,218      $4,808,370  
  Current liabilities      $                   18,862,498      $11,744,979      $1,496,196  
  Working capital          $                   (2,663,733      $26,000,239      $3,312,174  

Current assets as of June
30, 2025 was HKD37,745,218 (US$4,808,370). Out of this balance, the Group had cash in an amount of HKD32,188,711 (US$4,100,525). 92% of
the cash was deposited in financial institutions in Hong Kong Special Administrative Region, and 8% of the cash was deposited in PRC,
Macau and Taiwan. There was no restricted cash balance held in Hong Kong, PRC, Taiwan and Macau as of June 30, 2025. The current asset
balance also included the following: accounts receivable, net, HKD3,581,852 (US$456,293) and prepayment, deposits and other receivables,
net, HKD1,974,655 (US$251,552).

Current liabilities as of
June 30, 2025 was HKD11,744,979 (US$1,496,196). This amount was composed of accrued expenses and other payables, HKD8,071,739 (US$1,028,261),
account payable, HKD48,622 (US$6,194), income tax payable, HKD2,678,817 (US$341,255) and an operating lease obligation-current
portion, HKD945,801 (US$120,486).

Current assets as of June
30, 2024 was HKD16,198,765. Out of this balance, the Group had cash in an amount of HKD