Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 131

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4A
Chunk 131
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Item 4A. Unresolved Staff Comments

Not applicable

Item 5. Operating and Financial Review and
Prospects

The following discussion
and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements
and the related notes included elsewhere in this annual report. This report contains forward-looking statements that involve risks and
uncertainties. Our actual results and the timing of selected events could differ materially from those anticipated in these forward-looking
statements as a result of various factors, including those set forth under “ Item 3. Key Information - D. Risk Factors”
and elsewhere in this annual report. See “ Cautionary Statement Regarding Forward-Looking Information”.

Overview

We are a reputable payroll
outsourcing service and employment service provider based in Hong Kong, providing services to our customers which are mainly categorized
as (i) channels which are global human resources service providers engaged by companies/organizations to handle payroll and/or employment-related
matters for their branch offices in different regions; (ii) end-users which are mainly multinational companies/organizations that outsource
their payroll and/or employment functions to us directly; and (iii) end-users consulting us for their future expansion worldwide. Galaxy
HR (SZ), Galaxy Payroll (HK), Galaxy HR (TW) and Galaxy HR (Macau) provide payroll outsourcing services in the PRC, Hong Kong, Taiwan
and Macau; and Galaxy Payroll (HK), Galaxy Solutions Partner, Galaxy HR (TW) and Galaxy HR (Macau) provide employment services in the
PRC, Hong Kong, Japan, Taiwan, Macau, Australia and other Asian countries. End-users of our services may either be (i) our indirect customers
engaging us through channels; or (ii) our direct customers.

In providing payroll outsourcing
services, we generally assist our end-users in (i) conducting computation of salaries and the amounts of contributions to be paid for
MPF in Hong Kong, social security, housing provident funds and individual income tax in the PRC and any other deductions required to be
made under the laws of the respective jurisdictions; (ii) arranging for payment to the employees’ bank accounts; (iii) monitoring
and maintaining payroll records; and (iv) preparing and filing employment-related tax returns. For the years ended June 30, 2025, 2024
and 2023, we handled approximately 103,000, 99,800 and 65,400 payroll transactions for