# EDGAR Filing Document

**Accession Number:** 0002059547
**File Stem:** 0000000000-25-006151
**Filing Date:** 2025-6
**Character Count:** 12714
**Document Hash:** 5a5cc758d0b436c5f260e6160eca96e0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-25-006151.hdr.sgml**: 20260206

**ACCESSION NUMBER**: 0000000000-25-006151

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250611

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Xpand Boom Technology Inc.
- **CENTRAL INDEX KEY:** 0002060614
- **STANDARD INDUSTRIAL CLASSIFICATION:** WHOLESALE-GROCERIES & GENERAL LINE [5141]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 377-07809

**BUSINESS ADDRESS:**
- **STREET 1:** NO. 604, YIXING ROAD, WANBOLIN DISTRICT
- **CITY:** TAIYUAN CITY, SHANXI PROVINCE
- **STATE:** F4
- **ZIP:** 00000
- **BUSINESS PHONE:** 86-18817777987

**MAIL ADDRESS:**
- **STREET 1:** NO. 604, YIXING ROAD, WANBOLIN DISTRICT
- **CITY:** TAIYUAN CITY, SHANXI PROVINCE
- **STATE:** F4
- **ZIP:** 00000
**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HZJL Cayman Ltd
- **CENTRAL INDEX KEY:** 0002059547
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 377-07809

**BUSINESS ADDRESS:**
- **STREET 1:** FLOOR 18, BLOCK B, YUANLUN BUILDING
- **STREET 2:** BINJIANG DISTRICT
- **CITY:** HANGZHOU, ZHEJIANG PROVINCE
- **STATE:** F4
- **ZIP:** 310052
- **BUSINESS PHONE:** 8618612113828

**MAIL ADDRESS:**
- **STREET 1:** FLOOR 18, BLOCK B, YUANLUN BUILDING
- **STREET 2:** BINJIANG DISTRICT
- **CITY:** HANGZHOU, ZHEJIANG PROVINCE
- **STATE:** F4
- **ZIP:** 310052
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001641172-25-000167

## Text-Extract

```

                                                            June 11, 2025

Lulu Xing
Chief Executive Officer
Xpand Boom Technology Inc.
18th Floor, Block B
Yuanlun Building, No. 350 Qifei Road
Binjiang District, Hangzhou City
People's Republic of China

Bin Xiong
Chief Executive Officer
HZJL Cayman Ltd
18th Floor, Block B
Yuanlun Building, No. 350 Qifei Road
Binjiang District, Hangzhou City
People's Republic of China

       Re: Xpand Boom Technology Inc.
           Amendment No. 1 to Draft Registration Statement on Form F-4
           Submitted May 19, 2025
           CIK No. 0002060614
Dear Lulu Xing and Bin Xiong:

     We have reviewed your amended draft registration statement and have the
following
comment(s).

       Please respond to this letter by providing the requested information and
either
submitting an amended draft registration statement or publicly filing your
registration
statement on EDGAR. If you do not believe a comment applies to your facts and
circumstances or do not believe an amendment is appropriate, please tell us why
in your
response.

       After reviewing the information you provide in response to this letter
and your
amended draft registration statement or filed registration statement, we may
have additional
comments. Unless we note otherwise, any references to prior comments are to
comments in
our April 17, 2025 letter.
 June 11, 2025
Page 2

Amendment No. 1 to Draft Registration Statement on Form F-4
Cover Page

1.     We note your response to prior comment 1, including that PubCo will be a
"controlled
       company" within the meaning of the corporate governance standards of the
Nasdaq
       listing rules immediately after the consummation of the Business
Combination. Please
       further revise your disclosure here and in your risk factor on page 179
beginning
       "Because PubCo will be a "controlled company"..." to state whether you
plan to elect
       to rely on any of the corporate governance exemptions that will be
available to you
       under Nasdaq rules.
2.     We note your response to prior comment 3 and reissue. Please further
revise your
       Equity Capitalization Summary, and any other tabular representation
regarding
       redemption scenarios throughout your proxy statement/prospectus,
including the
       Dilution table on page 20, to disclose redemption scenarios at quartile
intervals. In
       this regard, we note that you provide four redemption scenarios, but
have excluded the
       25% quartile in the presentations. Please revise accordingly.
Questions and Answers About this Business Combination...
Q: After redemptions, how may shares will be outstanding?, page 10

3.     We note your response to prior comment 14, including the addition of a
table listing
       the "Others." Please further revise your disclosure to make clear the
name of the
       "financial advisory" listed in the first line under "Others" here. In
this regard, we note
       that elsewhere you describe how Chain Stone Capital Limited ("CTM") was
engaged
       by HZJL as a financial consultant via a financial advisory engagement
agreement and
       that CTM is entitled to receive $600,000 in cash and 1,750,000 PubCo
Class A
       Ordinary Shares upon completion of the Business Combination as
compensation for
       its services.
Summary of the Proxy Statement/Prospectus
Dilution, page 20

4.     We read your response to prior comment 19. Please revise your SPAC
dilution
       disclosures to start with the SPAC's net tangible book value as of the
most recent
       SPAC balance sheet date (i.e., March 31, 2025).
5.     We read the changes you made in response to prior comment 20. The pro
forma
       market value amount reflected appears to be neither a pro forma amount
nor a market
       value amount. Please revise to the title to more accurately reflect what
the amount
       represents.
Comparative Per Share Information, page 40

6.     Please present pro forma book value (deficit) per share information as
of the most
       recent pro forma balance sheet date only (i.e., December 31, 2024).
Also, revise the
       pro forma net (loss) income and basic and diluted net income (loss) per
share
       information for the year ended June 30, 2024, so that it agrees to your
pro forma
 June 11, 2025
Page 3

       financial information on page 184. Also, present pro forma net (loss)
income and
       basic and diluted net income (loss) per share information for the six
months ended
       December 31, 2024.
Capitalization, page 86

7.     We read your response to comment 25. Similar to your pro forma balance
sheet on
       page 181, please include a separate line item for each equity security
and disclose the
       number of shares authorized, issued and outstanding for each equity
security on a
       historical basis and under each redemption scenario.
8.     We read your response to prior comment 26. Your total capitalization and
       indebtedness should comprise only the sum of your total shareholders
       equity (deficit) and your indebtedness. Please revise the total
capitalization and
       indebtedness line item so that it sums correctly. Also, remove the other
unrelated line
       items that you have presented, which do not relate to your total
capitalization and
       indebtedness (e.g., prepaid expense, accrued liabilities, etc.). Refer
to Item 3.B of
       Form 20-F.
Summary of HZJL Financial Analysis, page 126

9.     We note your response to prior comment 33 and reissue in part. Please
revise to
       disclose whether or not HZJL has affirmed to Rising Dragon that its
projections
       reflect the view of the HZJL's management or board of directors about
its future
       performance as of the most recent practicable date prior to the date of
the disclosure
       document required to be disseminated to security holders. If the
projections no longer
       reflect the views of HZJL's management or board of directors regarding
the future
       performance of HZJL as of the most recent practicable date prior to the
date of the
       disclosure document required to be disseminated to security holders,
state the purpose
       of disclosing the projections and the reasons for any continued reliance
by the
       management or board of directors on the projections. Refer to Item
1609(c) of
       Regulation S-K.
Proposal No. 2 - The Acquistion Merger Proposal
Rising Dragon Board of Director's Reasons for Approving the Business
Combination
Summary of HZJL Financial Analysis
HZJL Management Projections
1. Supply of Food Product Business, page 128

10.    We read your response to prior comment 32. Please reconcile your
disclosures
       regarding future anticipated food product increases with those on page
158, which
       state the decrease in food products through June 30, 2024, was because
you intend to
       place more focus on development of branding services. In your response,
tell us why
       you believe you have not experienced the synergistic growth you
anticipated in food
       products considering branding services and online software services
revenues
       increased significantly during the six months ended December 31, 2024.
 June 11, 2025
Page 4
Business of HZJL
Overview, page 140

11.    We note your response to prior comment 35 and reissue in part.
Specifically, we note
       that your response states that there is an agreement in place between
Beijing Dianqier
       and Shanghai China Business News Media, effective from July 1, 2024 to
December
       30, 2025, Beijing Dianqier will procure guests for    Founder   s Glory
  and pay
       Shanghai China Business News Media the relevant production fees in
exchange for
       the advertising revenues generated from    Founder   s Glory.    Please
revise your
       disclosure accordingly to include a description and terms (e.g.,
duration) of this
       agreement. Additionally, please file this agreement as an exhibit or
tell us why you do
       not believe it is necessary to be filed under Item 601(b) of Regulation
S-K.
Management's Discussion and Analysis of Financial Condition and Results of
Operations of
HZJL
Discussion of Certain Balance Sheet Items, page 162

12.    Certain liabilities in the December 31, 2024 column are not consistent
with those
       presented in the unaudited balance sheet on page F-60. Please revise for
consistency.
Selected Historical Financial Information of Rising Dragon, page 175

13.    The middle columns in the Income Statement Data and Statement of Cash
Flow
       Data tables appear to represent the period from March 8, 2024 through
March 31,
       2024 rather than three months then ended. Please revise.
Unaudited Pro Forma Condensed Combined Financial Information
Basis of Pro Forma Presentation, page 179

14.    We read your response to prior comment 39. Please include the same
number of
       redemption scenarios throughout your pro forma financial information, in
your
       comparative per share information on page 40 and in your capitalization
table on page
       86 that you do elsewhere throughout the filing.
Unaudited Pro Forma Condensed Combined Balance Sheet, page 181

15.    Please disclose your basis for not reflecting the payment of the
deferred underwriting
       fees payable under any pro forma scenario. Also, disclose why the
deferred
       underwriting fees payable are not reflected as a current liability under
any pro forma
       scenario that they remain unpaid. In addition, disclose here and in the
footnotes to
       Rising Dragon's historical financial statements:
           the terms of their payment under your agreement with the
underwriter, and
           the ramifications of not meeting those payment terms upon
consummation of the
           Business Combination.
Unaudited Pro Forma Combined Statement of Operations for the Year Ended June
30, 2024,
page 184

16.    We read your response to prior comment 41. You continue to exclude the
other
       income, net, net loss attributable to non-controlling interest and net
income (loss)
 June 11, 2025
Page 5

       attributable to ordinary shareholders line items shown on page F-34 from
column (B)
       HZJL on page 184. HZJL's net income in column (B) on page 184 also still
differs
       from the amount shown on page F-34. Please revise or advise.
       Please contact Blaise Rhodes at 202-551-3774 or Rufus Decker at
202-551-3769 if
you have questions regarding comments on the financial statements and related
matters. Please contact Kate Beukenkamp at 202-551-3861 or Donald Field at
202-551-3680
with any other questions.

                                                          Sincerely,

                                                          Division of
Corporation Finance
                                                          Office of Trade &
Services
cc:   David J. Levine
      Yu Wang

```

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