Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 22

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 22
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 to the financial and securities
market in Mainland China may adversely affect Mainland China-based companies’ desire to participate in the financial and securities
market in Hong Kong. This may lower their demand for the services of our Operating Subsidiary and in turn adversely affect our financial
condition and results of operations. The economy of Mainland China differs from the economies of most developed countries in a number
of aspects, such as the extent of government intervention, growth rate, and control of the foreign exchange. In particular, the PRC government
exerts substantial control over the growth of the domestic economy by means of, among others, resource allocation as well as setting
policy on foreign exchange. There is no assurance that the PRC government will not implement reforms or policies which may drastically
(i) restrict Mainland China investors from investing abroad and in Hong Kong; and/or (ii) restrict Mainland China companies
and businesses to participate in the capital market in Hong Kong. Such intervention or policies changes may potentially affect the
attractiveness of Hong Kong as an alternative venue for Mainland China business to conduct fundraising activities and securities
offering in Hong Kong, or reduce the willingness of Mainland China investors to trade securities, or otherwise diminish the securities
and financial market of Hong Kong, given the substantial reliance of Hong Kong financial and securities on the business and
companies based in Mainland China. If the Chinese government implements market-oriented reforms involving unprecedented or experimental
revision of its economic reform measures, there is no guarantee that adjustments to its policies will not negatively affect our operations
and business development.

Furthermore,
the outbreak of war in Ukraine has already affected global economic markets, and the uncertain resolution of this conflict could result
in protracted and/or severe damage to the global economy. Russia’s military action in Ukraine have led to, and may lead to, additional
sanctions being levied by the United States, European Union and other countries against Russia. Russia’s military incursion
and the resulting sanctions could adversely affect global energy and financial markets and thus could affect our client’s business
and our business, even though we do not have any direct exposure to Russia or the adjoining geographic regions. The extent and duration
of the military action, sanctions, and resulting market disruptions are impossible to predict but could be substantial. Any such disruptions
caused by Russian military action or resulting sanctions may magnify the impact of other risks described in this section. We are currently
actively monitoring the situation in Ukraine, however, we cannot predict the progress