Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 46

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 46
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 time-consuming, costly or even impossible.

Securities analysts may not publish favorable
research or reports about our business or may publish no information at all, which could cause our Ordinary Share price or trading volume
to decline.

If a trading market for our
shares develops, the trading market will be influenced to some extent by the research and reports that industry or financial analysts
publish about us and our business. We do not control these analysts. As a new public company, we may be slow to attract research coverage
and the analysts who publish information about our Ordinary Shares will have had relatively little experience with us or our industry,
which could affect their ability to accurately forecast our results and could make it more likely that we fail to meet their estimates.
In the event we obtain securities or industry analyst coverage, if any of the analysts who cover us provide inaccurate or unfavorable
research or issue an adverse opinion regarding our share price, our share price could decline. If one or more of these analysts cease
coverage of us or fail to publish reports covering us regularly, we could lose visibility in the market, which in turn could cause our
share price or trading volume to decline and result in the loss of all or a part of your investment in us.

You may have more difficulty protecting
your interests than you would as a shareholder of a U. S. corporation.

We are an exempted company
incorporated under the laws of the British Virgin Islands. Our corporate affairs are governed by the provisions of our Memorandum and
Articles of Association, and by the provisions of the [BVI Act] and the common law of the British Virgin Islands. The rights of shareholders
to take action against the directors, actions by minority shareholders, and the fiduciary duties of our directors to us under British
Virgin Islands law are to a large extent governed by the common law of the British Virgin Islands. The common law of the British Virgin
Islands is derived in part from comparatively limited judicial precedent in the British Virgin Islands as well as from the common law
of England, the decisions of whose courts are of persuasive authority, but are not binding, on a court in the British Virgin Islands.

The rights of shareholders
and the fiduciary responsibilities of our directors and officers under British Virgin Islands law are not as clearly established as they
would be under statutes or judicial precedents in some jurisdictions in the United States, and some states (such as Delaware) have more
fully developed and judicially interpreted bodies of corporate law than the British Virgin Islands. In