# EDGAR Filing Document

**Accession Number:** 0002069821
**File Stem:** 0000000000-25-007697
**Filing Date:** 2025-7
**Character Count:** 9665
**Document Hash:** 48c5ccac0063a3cd472c2e484ae3bffe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-25-007697.hdr.sgml**: 20260520

**ACCESSION NUMBER**: 0000000000-25-007697

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250722

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BILLION GROUP HOLDINGS Ltd
- **CENTRAL INDEX KEY:** 0002069821
- **STANDARD INDUSTRIAL CLASSIFICATION:** FOOD & KINDRED PRODUCTS [2000]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 377-08064

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 89 NEXUS WAY
- **CITY:** CAMANA BAY
- **PROVINCE COUNTRY:** E9
- **ZIP:** KY1-9009
- **BUSINESS PHONE:** 852 98431101

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 89 NEXUS WAY
- **CITY:** CAMANA BAY
- **PROVINCE COUNTRY:** E9
- **ZIP:** KY1-9009
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001213900-25-049553

## Text-Extract

```

                                                            July 22, 2025

Chen Xin
Chief Executive Officer
Billion Group Holdings Limited
Unit 502, 20-20A
Chung Ying Building
Connaught Road West
Sheung Wan, Hong Kong

       Re: Billion Group Holdings Limited
           Amendment No. 1 to Draft Registration Statement on Form F-1
           Submitted July 7, 2025
           CIK No. 0002069821
Dear Chen Xin:

     We have reviewed your amended draft registration statement and have the
following
comments.

       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 June 25, 2025 letter.

Amendment No. 1 to Draft Registration Statement on Form F-1 submitted July 7,
2025
Cover Page

1.     Please remove the mark next to the first check box of the forepart of
the registration
       statement, as this offering is not qualified to be offered on a delayed
or continuous
       basis pursuant to Rule 415.
2.     We note your response to prior comment 2. Please provide prominent
disclosure on
       the cover page about the legal and operational risks associated with
having your
       operations in Hong Kong. Your disclosure should make clear whether these
risks
 July 22, 2025
Page 2

       could result in a material change in your operations and/or the value of
the securities
       you are registering for sale or could significantly limit or completely
hinder your
       ability to offer or continue to offer securities to investors and cause
the value of such
       securities to significantly decline or be worthless. Please also provide
disclosure on
       the cover page, similar to the added disclosure on page 13, that recent
PRC
       government statements and regulatory actions by China   s government,
such as those
       relating to the use of variable interest entities and data and
cyberspace security and
       anti-monopoly concerns, have or may impact the Company   s ability to
conduct its
       business, accept foreign investments, or list on a U.S. or other foreign
exchange.
3.     Please define "controlling shareholder" the first time you use this
term.
Prospectus Summary, page 1

4.     We note your response to prior comment 7. Please revise the disclosure
on pages 1
       and 17 about approvals to clarify, as you do on the cover page, that you
have relied on
       an opinion of counsel.
Risk Relating to Doing Business in Hong Kong, page 5

5.     We note your response to prior comment 9. In your summary of risk
factors, disclose
       the risks that your corporate structure and being based in or having the
majority of the
       company   s operations in Hong Kong poses to investors. In particular,
describe the
       significant regulatory, liquidity, and enforcement risks with
cross-references to the
       more detailed discussion of these risks in the prospectus. For example,
specifically
       discuss risks arising from the legal system in China, including the risk
that the
       Chinese government may intervene or influence your operations at any
time, or may
       exert more control over offerings conducted overseas and/or foreign
investment in
       China-based issuers, which could result in a material change in your
operations and/or
       the value of the securities you are registering for sale. Acknowledge
any risks that
       any actions by the Chinese government to exert more oversight and
control over
       offerings that are conducted overseas and/or foreign investment in
China-based
       issuers could significantly limit or completely hinder your ability to
offer or continue
       to offer securities to investors and cause the value of such securities
to significantly
       decline or be worthless. Please note that each summary risk factor
should have a
       cross-reference to the relevant individual detailed risk factor.
Our business is affected by the quality and quantity of the products, page 21

6.     We note your response to prior comment 12. Please expand the disclosure
on page 21
       to identify the "primary supplier" and the disclosure on page 69 to
identify "Supplier
       A." Also, file as an exhibit any material agreements with the supplier.
7.     Please tell us with specificity where you revised the disclosure in
response to the
       second sentence of prior comment 13. For example, reconcile the
statement on page
       21 that "[i]f our relationship with our major supplier changes in the
future, we may
       encounter unstable raw material supply and cost increases" with the
statement on page
       68 that "[i]n the event that operating subsidiaries    relationship with
any supplier
       terminates, we believe that they will be able to source necessary
supplies from
       alternative suppliers at similar prices."
 July 22, 2025
Page 3

Our business success and results of operations are significantly dependent,
page 24

8.     We note your response to prior comment 10. Please file as exhibits any
material
       agreements with your key customers.
Regulations, page 73

9.     We note your new disclosure on page 73 and 74 about Hong Kong laws and
       regulations. Please expand the disclosure to discuss the regulations to
which you will
       be subject to in the markets you intend to operate. For example, we note
the disclosure
       in the first full paragraph on page 68 about the Mainland China market.
Related Party Transactions, page 84

10.    We note your response to prior comment 19. Please revise the disclosure
to identify
       the specific "former related companies" mentioned in the first table on
page 85.
11.    We note your response to prior comment 20. Please revise to include
disclosure
       covering the period from the beginning of the company   s preceding
three fiscal years
       up to the date of the document. In this regard, you have only provided
disclosure for
       the 2023 and 2024 fiscal years.
Consolidated Financial Statements of Billion Group Holdings Limited, page F-1

12.    We note from your disclosure in Note 1 that Billion Group Holdings
Limited
       was incorporated in the Cayman Islands on May 6, 2025. In light of the
fact
       that Billion Group Holdings Limited, the registrant, was not in
existence at the date of
       the most recent audited balance sheet, please tell us your basis for
       presenting consolidated financial statements and not presenting
financial statements of
       the combined entities to be reorganized with the effects of the
reorganization
       disclosed in the pro forma capitalization table.
Exhibit Index, page II-2

13.    We note your response to prior comment 21. Please tell us why page 3 of
the opinion
       filed as Exhibit 5.2 refers to "the statements set forth in the
Registration Statement
       under the caption    Hong Kong Taxation    are true and accurate in all
material respects
       and that such statements constitute our opinion." In this regard, there
does not appear
       to be a reference to your counsel in the "Hong Kong Taxation" section on
pages 98
       and 99.

Signatures, page II-4

14.    We note your response to prior comment 27. Please indicate clearly below
the second
       paragraph of text required on the Signatures page who has signed your
registration
       statement in the capacity of principal financial officer, and controller
or principal
       accounting officer.
       Please contact Andi Carpenter at 202-551-3645 or Claire Erlanger at
202-551-3301 if
you have questions regarding comments on the financial statements and related
 July 22, 2025
Page 4

matters. Please contact Thomas Jones at 202-551-3602 or Anne Parker at
202-551-3611 with
any other questions.

                                                        Sincerely,

                                                        Division of Corporation
Finance
                                                        Office of Manufacturing
cc:   Kyle Leung

```

### Attached PDF Documents

**Attachment 1:** `filename1`

_No text found in this document._