# EDGAR Filing Document

**Accession Number:** 0002068224
**File Stem:** 0001185185-25-001095
**Filing Date:** 2025-8
**Character Count:** 38064
**Document Hash:** 8b2d8a16bbfa608bcd31baa612556630
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001185185-25-001095.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001185185-25-001095

**CONFORMED SUBMISSION TYPE**: F-1/A

**PUBLIC DOCUMENT COUNT**: 8

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KWF Group Holding Ltd
- **CENTRAL INDEX KEY:** 0002068224
- **STANDARD INDUSTRIAL CLASSIFICATION:** CONSTRUCTION SPECIAL TRADE CONTRACTORS [1700]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** F-1/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-289240
- **FILM NUMBER:** 251277712

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** OFFICE D, 22/F, TOWER A, CAPITAL TOWER
- **STREET 2:** NO. 38 WAI YIP STREET
- **CITY:** KOWLOON
- **PROVINCE COUNTRY:** K3
- **ZIP:** 00000
- **BUSINESS PHONE:** 852-2332-6168

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** OFFICE D, 22/F, TOWER A, CAPITAL TOWER
- **STREET 2:** NO. 38 WAI YIP STREET
- **CITY:** KOWLOON
- **PROVINCE COUNTRY:** K3
- **ZIP:** 00000

**As filed with the U.S. Securities and Exchange Commission on August 29, 2025**

**Registration No. 333-289240**

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION** **Washington**, **D**.**C**. **20549**

**Amendment No. 1 to**

**Form F-1**

**REGISTRATION STATEMENT *UNDER THE SECURITIES ACT OF 1933***

**KWF GROUP HOLDING LIMITED**

(**Exact Name of Registrant as Specified in its Charter**)

---

| | | |
|:---|:---|:---|
| **Cayman Islands** | **1700** | **Not Applicable** |
| **(State or Other Jurisdiction of**<br> **Incorporation or Organization)** | **(Primary Standard Industrial**<br> **Classification Code Number)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

**Office D, 22/F, Tower A, Capital Tower No. 38 Wai Yip Street, Kowloon, Hong Kong +852-2332-6168**

(Address, including zip code, and telephone number, including area code, of Registrant's principal executive offices)

**Cogency Global Inc. 122 East 42<sup>nd</sup> Street, 18<sup>th</sup> Floor New York, NY 10168 800-221-0102**

(Name, address, including zip code, and telephone number, including area code, of agent for service)

***Copies to:***

---

| | |
|:---|:---|
| **Lawrence S. Venick, Esq.**<br> **Loeb & Loeb LLP**<br> **2206-19 Jardine House**<br> **1 Connaught Place, Central**<br> **Hong Kong SAR**<br> **Telephone: +852-3923-1111** | **Fang Liu, Esq.<br> VCL Law LLP<br> 1945 Old Gallows Road, Suite 260<br> Vienna, VA 22182**<br> **Telephone: +1 703-919-7285** |

---

**Approximate date of commencement of proposed sale to the public:** As soon as practicable after effectiveness of this registration statement.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ☐

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933.

Emerging growth company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

† The term "new or revised financial accounting standard"
refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5,
2012. **The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8**(**a**) **of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Securities and Exchange Commission acting pursuant to said Section 8**(**a**), **may determine**.

**EXPLANATORY NOTE**

This Amendment No. 1 is being filed solely for the purpose of filing certain exhibits to this registration statement on Form F-1, or the Registration Statement, and to amend and restate the exhibit index set forth in Part II of the Registration Statement. No changes have been made to the Registration Statement other than this explanatory note as well as revised versions of the cover page and exhibit index of the Registration Statement. This Amendment No. 1 does not contain copies of the prospectus included in the Registration Statement, which remains unchanged from the Registration Statement filed on August 5, 2025, and consists only of the cover page, this explanatory note and Part II of the Registration Statement.

**PART II**

**INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 6. Exculpation, Insurance, and Indemnification of Office Holders (Including Directors and Officers).**

Cayman Islands law does not limit the extent to which a company's articles of association may provide indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to the public interest, such as providing indemnification against civil fraud or the consequences of committing a crime. Our amended and restated articles of association provide that to the extent permitted by law, we shall indemnify each existing or former director (including alternate director), secretary and other officer of us (including an investment adviser or an administrator or liquidator) and their personal representatives against:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all actions, proceedings, costs, charges, expenses, losses,
damages or liabilities incurred or sustained by the existing or former director (including alternate director), secretary or officer
in or about the conduct of our business or affairs or in the execution or discharge of the existing or former director's (including
alternate director's), secretary's or officer's duties, powers, authorities or discretions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) without limitation to paragraph (a), all costs, expenses,
losses or liabilities incurred by the existing or former director (including alternate director), secretary or officer in defending (whether
successfully or otherwise) any civil, criminal, administrative or investigative proceedings (whether threatened, pending or completed)
concerning us or our affairs in any court or tribunal, whether in the Cayman Islands or elsewhere.

No such existing or former director (including alternate director), secretary or officer, however, shall be indemnified in respect of any matter arising out of his own dishonesty.

To the extent permitted by the Companies Act, we may make a payment, or agree to make a payment, whether by way of advance, loan or otherwise, for any legal costs incurred by an existing or former director (including alternate director), secretary or officer of the Company in respect of any matter identified in above on condition that the director (including alternate director), secretary or officer must repay the amount paid by us to the extent that we are ultimately found not liable to indemnify the director (including alternate director), secretary or officer for those legal costs.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us under the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

**Item 7. Recent Sales of Unregistered Securities.**

Set forth below is information regarding ordinary shares issued by us during the last three years. None of the below described transactions involved any underwriters, underwriting discounts and commissions or commissions, or any public offering.

On April 30, 2025, Paksum Company Limited entered into Sale and Purchase Agreements with Ocean Serene Holdings Limited, Golden Development Investment Limited, True Definite Development Limited, Wise Fortuna Company Limited, Brilliant Smart Group Limited and Universal One Investment Limited, respectively. Pursuant to the Sales and Purchase Agreements, Paksum Company Limited is to sell, and Ocean Serene Holdings Limited, Golden Development Investment Limited, True Definite Development Limited, Wise Fortuna Company Limited, Brilliant Smart Group Limited and Universal One Investment Limited are to acquire, 4.98%, 4.95%, 4.90%, 4.89%, 4.88% and 4.85% of the issued Class A equity interests in KWF Group Holding Limited, at the consideration of US$56,682, US$56,340, US$55,771, USS$55,658, US$55,544 and US$55,202, respectively. On the same date, Paksum Company Limited executed the instrument of transfers whereby Paksum Company Limited have transferred 1,245,000, 1,237,500, 1,225,000, 1,222,500, 1,220,000 and 1,212,500 Class A Ordinary Shares, out of its 25,000,000 Class A Ordinary Shares, to Ocean Serene Holdings Limited, Golden Development Investment Limited, True Definite Development Limited, Wise Fortuna Company Limited, Brilliant Smart Group Limited and Universal One Investment Limited, respectively. Subsequent to the transfers, KWF Group Holding Limited is owned as to (i) 17,637,500 Class A Ordinary Shares and 3,000,000 Class B Ordinary Shares by Paksum Company Limited; and (ii) 1,245,000, 1,237,500, 1,225,000, 1,222,500, 1,220,000 and 1,212,500 Class A Ordinary Shares by Ocean Serene Holdings Limited, Golden Development Investment Limited, True Definite Development Limited, Wise Fortuna Company Limited, Brilliant Smart Group Limited and Universal One Investment Limited, respectively.

All of the foregoing issuances were made outside of the U.S. pursuant to Regulation S or to U.S. entities pursuant to Section 4(a)(2) of the Securities Act.

**Item 8. Exhibits and Financial Statement Schedules.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Exhibits

The exhibits of the registration statement are listed in the Exhibit Index to this registration statement and are incorporated herein by reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial Statement Schedules

Schedules have been omitted because the information required to be set forth therein is not applicable or is shown in the consolidated financial statements or the notes thereto.

**Item 9. Undertakings.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The undersigned registrant hereby undertakes to provide to
the underwriters at the closing specified in the underwriting agreement certificates in such denominations and registered in such names
as required by the underwriters to permit prompt delivery to each purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers, and controlling persons of the registrant pursuant to the foregoing provisions,
or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other
than the payment by the registrant of expenses incurred or paid by a director, officer, or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such director, officer, or controlling person in connection with
the securities being registered, the registrant will, unless in the opinion of its counsel that the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as
expressed in the Securities Act and will be governed by the final adjudication of such issue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement: (i) to include any prospectus required by Section 10(a)(3) of
the Securities Act of 1933; (ii) to reflect in the prospectus any facts or events arising after the effective date of
the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the registration statement (notwithstanding the foregoing, any increase or decrease
in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any
deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the
Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change
in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration
statement); and (iii) to include any material information with respect to the plan of distribution not previously disclosed in the
registration statement or any material change to such information in the registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the termination of the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To file a post-effective amendment to the registration statement
to include any financial statements required by Item 8.A. of Form 20-F at the start of any delayed offering or throughout a
continuous offering. Financial statements and information otherwise required by Section 10(a)(3) of the Securities Act need
not be furnished, provided that the registrant includes in the prospectus, by means of a post-effective amendment, financial statements
required pursuant to this paragraph (4) and other information necessary to ensure that all other information in the prospectus is at
least as current as the date of those financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) For the purposes of determining liability under the Securities
Act of 1933 to any purchaser in the initial distributions of the securities, the undersigned registrant undertakes that in
a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting
method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following
communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities
to such purchaser: (i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the Offering required
to be filed pursuant to Rule 424; (ii) Any free writing prospectus relating to the Offering prepared by or on behalf of the
undersigned registrant or used or referred to by the undersigned registrant; (iii) The portion of any other free writing prospectus
relating to the Offering containing material information about the undersigned registrant or its securities provided by or on behalf
of the undersigned registrant; and (iv) Any other communication that is an offer in the Offering made by the undersigned registrant
to the purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) That, for purposes of determining any liability under the
Securities Act, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A
and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the
Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) That, for the purpose of determining any liability under
the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide
offering thereof.

**Exhibit Index**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 1.1\*\* | [Form of Underwriting Agreement](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex1-1.htm) |
| 3.1\*\* | [Amended and Restated Memorandum of Association and Articles of Association, as currently in effect](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex3-1.htm) |
| 4.1\* | [Specimen certificate evidencing Ordinary Shares](kwfgroupex4-1.htm) |
| 5.1\* | [Opinion of Ogier regarding the validity of the Shares being registered](kwfgroupex5-1.htm) |
| 10.1\*\* | [Employment Agreement between the registrant and Mr. Chak Lam, WONG, registrant's Chief Executive Officer and Chair of the Board](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex10-1.htm) |
| 10.2\*\* | [Employment Agreement between the registrant and Mr. Yau Fat, CHAN, registrant's Chief Financial Officer](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex10-2.htm) |
| 10.3\*\* | [Form of Independent Director Agreement by and between the registrant and its Independent Director](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex10-3.htm) |
| 10.4\*\* | [Tenancy Agreement of Office D, 22/F, Tower A, Capital Tower, No. 38 Wai Yip Street, Kowloon, Hong Kong](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex10-4.htm) |
| 14.1\*\* | [Code of Business Conduct and Ethics](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex14-1.htm) |
| 21.1\*\* | [List of subsidiaries of the Company](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex21-1.htm) |
| 23.1\* | [Consent of SRCO Professional Corporation Chartered Professional Accountants](kwfgroupex23-1.htm) |
| 23.2\* | [Consent of Ogier (included in Exhibit 5.1)](kwfgroupex5-1.htm) |
| 23.3\*\* | [Consent of David Fong & Co., Solicitors (included in Exhibit 99.4)](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex99-4.htm) |
| 23.4\*\* | [Consent of GOVEN Intelligence Holdings Limited](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex23-4.htm) |
| 24.1\* | [Power of Attorney (included in the signature page to the Form F-1)](#a_001) |
| 99.1\*\* | [Audit Committee Charter](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex99-1.htm) |
| 99.2\*\* | [Nominating Committee Charter](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex99-2.htm) |
| 99.3\*\* | [Compensation Committee Charter](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex99-3.htm) |
| 99.4\*\* | [Opinion of David Fong & Co., Solicitors, as to certain Hong Kong Legal Matters](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex99-4.htm) |
| 99.5\*\* | [Consent of Ka Wing Eric, LAW, Independent Director Nominee](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex99-5.htm) |
| 99.6\*\* | [Consent of Szu Yu, LAI, Independent Director Nominee](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex99-6.htm) |
| 99.7\*\* | [Consent of Hei Lam, TSANG, Independent Director Nominee](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex99-7.htm) |
| 99.8\*\* | [Executive Compensation Recovery Policy](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex99-8.htm) |
| 99.9\*\* | [Insider Trading Policy](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex99-9.htm) |
| 107\*\* | [Calculation of Filing Fee Table](http://www.sec.gov/Archives/edgar/data/2068224/000118518525000899/kwfgroupex-fee.htm) |

---

\* Filed herewith <br> \*\* Previously Filed

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-1 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Hong Kong on August 29, 2025.

---

| | |
|:---|:---|
| **KWF GROUP HOLDING LIMITED** | **KWF GROUP HOLDING LIMITED** |
| By: | */s/ Chak Lam, WONG* |
| Name: | Chak Lam, WONG |
| Title: | Chief Executive Officer |

---

**POWER OF ATTORNEY**

Each person whose signature appears below constitutes and appoints Mr. Chak Lam, CWONG, as attorney-in-fact with full power of substitution, for him or her in any and all capacities, to do any and all acts and all things and to execute any and all instruments that said attorney and agent may deem necessary or desirable to enable the registrant to comply with the Securities Act, and any rules, regulations and requirements of the SEC thereunder, in connection with the registration under the Securities Act of shares of the registrant (the "Shares"), including, without limitation, the power and authority to sign the name of each of the undersigned in the capacities indicated below to the Registration Statement on Form F-1 (the "Registration Statement") to be filed with the SEC with respect to such Shares, to any and all amendments or supplements to such Registration Statement, whether such amendments or supplements are filed before or after the effective date of such Registration Statement, to any related Registration Statement filed pursuant to Rule 462(b) under the Securities Act, and to any and all instruments or documents filed as part of or in connection with such Registration Statement or any and all amendments thereto, whether such amendments are filed before or after the effective date of such Registration Statement, and each of the undersigned hereby ratifies and confirms all that such attorney and agent shall do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signatures** | **Title** | **Date** |
| */s/ Chak Lam, WONG* | Chairperson of the Board of Directors, | August 29, 2025 |
| Chak Lam, WONG | Director, Chief Executive Officer<br> (Principal Executive Officer) |  |
| */s/ Yau Fat, CHAN* | Chief Financial Officer | August 29, 2025 |
| Yau Fat, CHAN | (Principal Accounting and Financial Officer) |  |

---

**SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant's duly authorized representative has signed this registration statement on Form F-1 in New York, NY on August 29, 2025.

---

| | |
|:---|:---|
| **Cogency Global Inc.** | **Cogency Global Inc.** |
| By: | /s/ Colleen A. De Vries |
| Name: | Colleen A. De Vries |
| Title: | Senior Vice President |

---

## Exhibit 4.1

**Exhibit 4.1**

![](ex4-1_001.jpg)

## Exhibit 5.1

**Exhibit 5.1**

![](ex5-1_001.jpg)

---

| | |
|:---|:---|
| **KWF Group Holding Limited** | **D** **+852 3656 6054** |
| **KWF Group Holding Limited** | **E** **nathan.powell@ogier.com** |
| **KWF Group Holding Limited** |  |
| **KWF Group Holding Limited** | Reference: NMP/JTC/513209.00001 |

---

29 August 2025

Dear Sirs

**KWF Group Holding Limited (the Company)**

We have acted as Cayman Islands counsel to the Company in connection with the Company's registration statement on Form F-1, including all amendments or supplements thereto (the **Registration Statement**), as filed with the United States Securities and Exchange Commission (the **Commission**) under the United States Securities Act of 1933, as amended (the **Securities Act**). The Registration Statement relates to the offering (the **Offering**) of 2,000,000 Class A Ordinary Shares of US$0.00001 par value each (as defined in below) (the **Offering Shares**), together with an underwriter's over-allotment option for a period of 45 days from the date of the closing of the Offering for the underwriters to purchase additional Class A Ordinary Shares in the amount representing fifteen percent (15%) of the Offering Shares sold in the Offering (collectively, the **IPO Shares**).

We are furnishing this opinion as Exhibit 5.1 and Exhibit 23.2 to the Registration Statement.

Unless a contrary intention appears, all capitalised terms used in this opinion have the respective meanings set forth in the Documents (as defined in below). The headings herein are for convenience only and do not affect the construction of this opinion.

1 Documents examined

For the purposes of giving this opinion, we have examined originals, copies, or drafts of the following documents: (the **Documents**):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the certificate of incorporation of the Company dated 12 November 2024 issued by the Registrar of Companies
of the Cayman Islands (the **Registrar**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the memorandum and articles of association of the Company as adopted on incorporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the amended and restated memorandum and articles of association of the Company as adopted by special resolutions
passed on 30 April 2025 (respectively, the **Memorandum and Articles**);

---

| | | | |
|:---|:---|:---|:---|
| **Ogier**<br> Providing advice on British Virgin Islands, <br> Cayman Islands and Guernsey laws |  |  |  |
| Floor 11 Central Tower | **Partners** |  |  |
| 28 Queen's Road Central<br> Central<br> Hong Kong<br>T +852 3656 6000<br> F +852 3656 6001<br> **ogier.com** | Nicholas Plowman<br> Nathan Powell<br> Anthony Oakes<br> Oliver Payne<br> Kate Hodson<br> David Nelson<br> Justin Davis<br> Joanne Collett<br> Dennis Li | Cecilia Li<br> Rachel Huang\*\*<br> Yuki Yan\*\*<br> Florence Chan\*<sup>‡</sup><br> Richard Bennett\*\*<sup>‡</sup><br> James Bergstrom<sup>‡</sup><br>| \* admitted in New Zealand<br> \*\* admitted in England and Wales<br> <sup>‡</sup> not ordinarily resident in Hong Kong |

---

Page **2** of **5**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) a certificate of good standing dated 30 July 2025 issued by the Registrar in respect of the Company (the **Good Standing Certificate**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the register of directors of the Company as provided to us on 1 August 2025 (the **Register of Directors**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the register of members of the Company as provided to us on 4 August 2025 (the **Register of Members**,
together with the Register of Directors, the **Registers**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) a copy of the written resolutions of the sole director of the Company dated 1 August 2025 approving among
others, the Company's filing of the Registration Statement and issuance of the IPO Shares (the **Board Resolutions**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) a certificate dated 29 August 2025 as to certain matters of fact signed by the sole director of the Company
(the **Director's Certificate**); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Registration Statement.

2 Assumptions

In giving this opinion we have relied upon the assumptions set forth in this paragraph 2 without having carried out any independent investigation or verification in respect of those assumptions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all original documents examined by us are authentic and complete;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all copy documents examined by us (whether in facsimile, electronic or other form) conform to the originals
and those originals are authentic and complete;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all signatures, seals, dates, stamps and markings (whether on original or copy documents) are genuine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) each of the Good Standing Certificate, the Director's Certificate and the Registers is accurate and complete
as at the date of this opinion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) all copies of the Registration Statement are true and correct copies and the Registration Statement conform
in every material respect to the latest drafts of the same produced to us and, where the Registration Statement has been provided to us
in successive drafts marked-up to indicate changes to such documents, all such changes have been so indicated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) no invitation has been or will be made by or on behalf of the Company to the public in the Cayman Islands
to subscribe for any shares of the Company and none of the shares have been offered or issued to residents of the Cayman Islands;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the Company is, and after the allotment and issuance of the IPO Shares will be, able to pay its liabilities
as they fall due; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) there is no provision of the law of any jurisdiction, other than the Cayman Islands, which would have
any implication in relation to the opinions expressed herein.

Page **3** of **5**

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|:---|:---|
| 3 | Opinions |

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On the basis of the examinations and assumptions referred to above and subject to the limitations and qualifications set forth in paragraph 4 below, we are of the opinion that:

**Corporate status**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company has been duly incorporated as an exempted company with limited liability and is validly existing
and in good standing with the Registrar.

**Authorised Share capital**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The authorised share capital of the Company is US$50,000 divided into 4,500,000,000 class A ordinary shares
of par value US$0.00001 each (the **Class A Ordinary Shares**) and 500,000,000 class B ordinary shares of par value US$0.00001 each
(the **Class B Ordinary Shares**).

**Corporate Authorisation**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company has taken all requisite corporate action to authorise the issuance and sale of the IPO Shares
under the Registration Statement.

**Valid Issuance of IPO Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The IPO Shares to be offered and issued by the Company as contemplated by the Registration Statement have
been duly authorised for issue and when:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) issued by the Company against payment in full of the consideration therefor in accordance with the terms
set out in the Registration Statement and the Memorandum and Articles; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) such issuance of IPO Shares have been duly registered in the Company's register of members as fully paid
shares,

will be validly issued, fully paid and non-assessable.

**Registration Statement - Taxation**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The statements contained in the Registration Statement in the section headed "*Cayman Islands Taxation* ", in so far as they purport to summarise the laws or regulations of the Cayman Islands, are accurate in all material
respects and that such statements constitute our opinion.

4 Limitations and Qualifications

4.1 We offer no opinion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) as to any laws other than the laws of the Cayman Islands, and we have not, for the purposes of this opinion,
made any investigation of the laws of any other jurisdiction, and we express no opinion as to the meaning, validity, or effect of references
in the Documents to statutes, rules, regulations, codes or judicial authority of any jurisdiction other than the Cayman Islands; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) except to the extent that this opinion expressly provides otherwise, as to the commercial terms of, or
the validity, enforceability or effect of the Registration Statement, the accuracy of representations, the fulfilment of warranties or
conditions, the occurrence of events of default or terminating events or the existence of any conflicts or inconsistencies among the Registration
Statement and any other agreements into which the Company may have entered or any other documents.

Page **4** of **5**

4.2 Under the Companies Act (Revised) (**Companies Act**) of the Cayman Islands annual returns in respect
of the Company must be filed with the Registrar of Companies in the Cayman Islands, together with payment of annual filing fees. A failure
to file annual returns and pay annual filing fees may result in the Company being struck off the Register of Companies, following which
its assets will be vest in the Financial Secretary of the Cayman Islands and will be subject to disposition or retention for the benefit
of the public of the Cayman Islands.

4.3 In **good standing** means only that as of the date of this opinion the Company is up-to-date with
the filing of its annual returns and payment of annual fees with the Registrar of Companies. We have made no enquiries into the Company's
good standing with respect to any filings or payment of fees, or both, that it may be required to make under the laws of the Cayman Islands
other than the Companies Act.

5 Governing law of this opinion

5.1 This opinion is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) governed by, and shall be construed in accordance with, the laws of the Cayman Islands;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) limited to the matters expressly stated in it; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) confined to, and given on the basis of, the laws and practice in the Cayman Islands at the date of this
opinion.

5.2 Unless otherwise indicated, a reference to any specific Cayman Islands legislation is a reference to that
legislation as amended to, and as in force at, the date of this opinion.

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|:---|:---|
| 6 | Reliance |

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We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to our firm under the headings "*Enforcement of Civil Liabilities*", "*Taxation*" and "*Legal Matters*" of the Registration Statement. In giving such consent, we do not believe that we are "experts" within the meaning of such term used in the Securities Act or the rules and regulations of the Commission issued thereunder with respect to any part of the Registration Statement, including this opinion as an exhibit or otherwise.

This opinion may be used only in connection with the offer and sale of the IPO Shares and while the Registration Statement is effective.

Page **5** of **5**

Yours faithfully

![](ex5-1_002.jpg)

**Ogier**

## Exhibit 23.1

**Exhibit 23.1**

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| | |
|:---|:---|
| ![](ex23-1_001.jpg) | **SRCO Professional Corporation**<br> **Chartered Professional Accountants** <br> **Licensed Public Accountants**<br> Park Place Corporate Centre<br> 15 Wertheim Court, Suite 409<br> Richmond Hill, ON Canada L4B 3H7<br>Tel: 905 882 9500 & 416 671 7292<br> Fax: 905 882 9580<br> Email: sohail.raza@srco.ca<br> www.srco.ca<br>|

---

**<u>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</u>**

We hereby consent to the use in this Amendment to the Registration Statement on Form F-1 of our report dated May 14, 2025, relating to the consolidated financial statements of KWF Group Holding Limited and its subsidiaries comprising the consolidated balance sheets as of February 28, 2025 and February 29, 2024 and the related consolidated statements of operations and comprehensive income, changes in shareholders' equity, and cash flows for each of the years in the two-year period ended February 28, 2025 and related notes.

We also consent to the reference to our Firm under the caption "Experts" in the Registration Statement.

*/s/ SRCO Professional Corporation* 

CHARTERED PROFESSIONAL ACCOUNTANTS

Authorized to practice public accounting by the

Chartered Professional Accountants of Ontario

Richmond Hill, Ontario, Canada

August 29, 2025