Company: CLIK
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001493152-25-019286
Chunk: 9

Company: Click Holdings Ltd.
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 9
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could be exposed to government interference from China.

   5  

There
are political risks associated with conducting business in Hong Kong.

Any
adverse economic, social and/or political conditions, material social unrest, strike, riot, civil disturbance or disobedience, as well
as significant natural disasters, may affect the market and adversely affect the business operations of the Company. Hong Kong is a special
administrative region of the PRC and the basic policies of the PRC regarding Hong Kong are reflected in the Basic Law, Hong Kong’s
constitutional document, which provides Hong Kong with a high degree of autonomy and executive, legislative and independent judicial
powers, including that of final adjudication under the principle of “one country, two systems.” However, there is no assurance
that there will not be any changes in the economic, political and legal environment in Hong Kong in the future. Since our operation is
based in Hong Kong, any change of such political arrangements may pose immediate threat to the stability of the economy in Hong Kong,
thereby directly and adversely affecting our results of operations and financial positions.

Under
the Basic Law of the Hong Kong Special Administrative Region of the PRC, Hong Kong is exclusively in charge of its internal affairs and
external relations, while the government of the PRC is responsible for its foreign affairs and defense. As a separate customs territory,
Hong Kong maintains and develops relations with foreign states and regions. Based on certain recent developments, including the Law of
the PRC on Safeguarding National Security in the Hong Kong Special Administrative Region (the “ Hong Kong National Security Law”)
issued by the Standing Committee of the PRC National People’s Congress in June 2020, the U. S. State Department has indicated the
U. S. no longer considers Hong Kong to have significant autonomy from China and at the time President Trump signed an executive order
and Hong Kong Autonomy Act, or HKAA, to remove Hong Kong’s preferential trade status and to authorize the U. S. administration to
impose blocking sanctions against individuals and entities who are determined to have materially contributed to the erosion of Hong Kong’s
autonomy. The U. S. may impose the same tariffs and other trade restrictions on exports from Hong Kong that it places on goods from mainland
China. These and other recent actions may represent an escalation in political and trade tensions involving the U. S, China and Hong Kong,
which could potentially harm our business.

In
July 2021, President Joe Biden warned investors