Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 65

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4
Chunk 65
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SZ) and Galaxy HR (Macau) become the indirect wholly-owned subsidiaries of our Company.

7. Share exchange by and between the Company and Melkweg Holdings
Limited

On August 26, 2021, the Company
and Melkweg Holdings Limited entered into a share exchange agreement, pursuant to which the Company issued to three shareholders and their
designees of Melkweg Holdings Limited a total of 10,000 (before the Forward Share Split) Ordinary Shares in exchange for all of the
outstanding equity shares of Melkweg Holdings Limited. As a result of the share exchange, Melkweg Holdings Limited become a wholly owned
subsidiary of the Company. The restructuring of the Company was then completed.

Galaxy Payroll BVI, Melkweg
Cayman and Melkweg BVI and all subsidiaries are under common control which results in the consolidation of Melkweg Cayman and Galaxy Payroll
BVI at carrying value. The consolidated financial statements are prepared on the basis as if the reorganization became effective as of
the beginning of the first period presented in the accompanying consolidated financial statements.

Corporate Information

Our principal executive office
is located at 25th Floor, Ovest, 77 Wing Lok Street, Sheung Wan, Hong Kong. Our phone number is +852 3105 2611. Our registered office
in the British Virgin Islands is located at Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin
Islands.

Our agent for service of
process in the United States is Puglisi & Associates, located at 850 Library Avenue, Suite 204, Newark, DE, 19711.

SEC maintains an internet
site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the
SEC on www. sec. gov. You can also find information on our website https://www. galaxyapac. com/. Information contained
on, or that can be accessed through, our website is not a part of, and shall not be incorporated by reference into, this annual report.

Initial Public Offering and Exercise of Over-Allotment Option

On September 11, 2024, the
Company entered into an underwriting agreement with L. F. Lafferty & Co., Inc., as underwriter named thereof, in connection with its
IPO of 1,750,000 Ordinary Shares at a price of $4