# EDGAR Filing Document

**Accession Number:** 0002045440
**File Stem:** 0001213900-25-073558
**Filing Date:** 2025-8
**Character Count:** 1307352
**Document Hash:** 702569b57f7028d017433b46d110446a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-073558.hdr.sgml**: 20250808

**ACCESSION NUMBER**: 0001213900-25-073558

**CONFORMED SUBMISSION TYPE**: F-1

**PUBLIC DOCUMENT COUNT**: 62

**FILED AS OF DATE**: 20250808

**DATE AS OF CHANGE**: 20250808

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Idea Tech Holding Ltd
- **CENTRAL INDEX KEY:** 0002045440
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-EDUCATIONAL SERVICES [8200]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** F-1
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-289411
- **FILM NUMBER:** 251197887

**BUSINESS ADDRESS:**
- **STREET 1:** ROOM 721, 7/F CYBERPORT ONE
- **STREET 2:** 100 CYBERPORT ROAD, POKFULAM
- **CITY:** HONG KONG
- **STATE:** F4
- **ZIP:** 00000
- **BUSINESS PHONE:** 852 2503 3018

**MAIL ADDRESS:**
- **STREET 1:** ROOM 721, 7/F CYBERPORT ONE
- **STREET 2:** 100 CYBERPORT ROAD, POKFULAM
- **CITY:** HONG KONG
- **STATE:** F4
- **ZIP:** 00000

#### As filed with the U.S. Securities and Exchange Commission on August 8, 2025.

#### Registration No. 333-

#### UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br>Washington, D.C. 20549

#### ––––––––––––––––––––

#### FORM F-1<br>REGISTRATION STATEMENT<br>UNDER<br>THE SECURITIES ACT OF 1933

#### ––––––––––––––––––––

#### Idea Tech Holding Limited
(Exact name of registrant as specified in its charter)

#### ––––––––––––––––––––

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| | | |
|:---|:---|:---|
|  **Cayman Islands** | **8200** | **Not Applicable** |
|  (State or other jurisdiction of <br>incorporation or organization) | (Primary Standard Industrial <br>Classification Code Number) | (I.R.S. Employer <br>Identification Number) |

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**Room 721, 7/F Cyberport One,<br>100 Cyberport Road,<br>Pokfulam, Hong Kong<br>(+852) 2503 3018<br>(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)**

**Cogency Global Inc.<br>122 East 42**<sup>nd</sup> **Street, 18**<sup>th</sup> **Floor<br>New York, NY 10168<br>+1 (212) 947**-7200<br>(Name, address, including zip code, and telephone number, including area code, of agent for service)

#### With a Copy to:

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| | |
|:---|:---|
|  **William S. Rosenstadt, Esq. <br>Mengyi "Jason" Ye, Esq.** <br>**Yarona Yieh, Esq. <br>Ortoli Rosenstadt LLP <br>366 Madison Avenue, 3**<sup>rd</sup> **Floor <br>New York, NY 10017 <br>Tel: +1 (212) 588**-0022 | **Fang Liu, Esq. <br>VCL Law LLP <br>1945 Old Gallows Road, Suite 260 <br>Vienna, VA 22182 <br>Tel: +1 (703) 919**-7285  |

---

#### ––––––––––––––––––––
**Approximate date of commencement of proposed sale to the public:** Promptly after the effective date 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, please 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, as amended, or until the registration statement shall become effective on such date as the U.S. Securities and Exchange Commission, acting pursuant to such Section 8(a), may determine.**

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**The information in this prospectus is not complete and may be changed. We will not sell these securities until the registration statement filed with the U.S. Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.**

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| | |
|:---|:---|
|  **PRELIMINARY PROSPECTUS** | **SUBJECT TO COMPLETION, DATED AUGUST 8, 2025** |

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#### 2,000,000 Ordinary Shares

#### Idea Tech Holding Limited
This is an initial public offering (the "Offering") of the ordinary shares, par value US$0.0001 per share (the "Ordinary Shares" or "Shares") of Idea Tech Holding Limited ("Idea Tech Cayman", the "Company", "we, "our", or "us"), an exempted company incorporated in the Cayman Islands with limited liability whose principal place of business is in Hong Kong. We are offering 2,000,000 Ordinary Shares to be sold in this Offering on a firm commitment basis. We anticipate that the initial public offering price will be between US$4.00 and US$5.00 per share (the "Offering Price").

Prior to this Offering, there has been no public market for our Ordinary Shares. We have applied to list our Ordinary Shares on the Nasdaq Capital Market under the symbol "IDTL." The closing of this Offering is contingent upon the final approval from Nasdaq. There is no guarantee or assurance that our Ordinary Shares will be approved for listing on the Nasdaq Capital Market or that the Offering will be closed.

#### Investors are cautioned that you are buying shares of a Cayman Islands holding company with operations in Hong Kong conducted by its operating subsidiary.
Idea Tech Holding Limited, or Idea Tech Cayman, is an exempted company incorporated under the law of the Cayman Islands with no material operations of its own, and we conduct all our operations in Hong Kong through our operating subsidiary, ASK Idea (Hong Kong) Limited ("Operating Subsidiary" or "Ask Idea"). This is an offering of the Ordinary Shares of Idea Tech Cayman, the holding company in the Cayman Islands, instead of the shares of Ask Idea. Investors in this offering should be aware that they will not and may never directly hold any equity interests in Ask Idea, the Operating Subsidiary, but equity solely of Idea Tech Cayman, the Cayman Islands holding company. This structure involves unique risks to the investors, and the PRC regulatory authorities could disallow this structure, which would likely result in a material change in Ask Idea's operations and/or a material change in the value of the securities that we are registering for sale, including that such event could cause the value of such securities to significantly decline or become worthless. See "Risk Factors — Risks Related to Doing Business in Hong Kong — *All of our operations are in Hong Kong. However, due to the long*-arm *application of the current PRC laws and regulations, the PRC government may exercise significant direct oversight and discretion over the conduct of our business and may intervene or influence our operations, which could result in a material change in our operations and/or the value of our Ordinary Shares. Our Operating Subsidiary in Hong Kong may be subject to the laws and regulations of Mainland China, which may impact our ability to operate profitably and result in a material negative impact on our operations and/or the value of our Ordinary Shares. Furthermore, the changes in the policies, laws, regulations, rules, and enforcement of laws of Mainland China may also occur quickly with little advance notice and our assertions and beliefs of the risk imposed by the Mainland China legal and regulatory system cannot be certain*" on page 37.

**Investing in our Ordinary Shares involves a high degree of risk, including the risk of losing your entire investment. See "*Risk Factors*" beginning on page 18 of this prospectus to read about factors you should consider before buying our Ordinary Shares.**

We are an "emerging growth company" as defined under applicable federal securities laws and are thus eligible for reduced public company reporting requirements. See "*Risk Factors*" and "Prospectus Summary *— Implications of Being an Emerging Growth Company*" on pages 18 and 14, respectively.

We are an exempted company with limited liability incorporated under the laws of the Cayman Islands. Under the rules of the U.S. Securities and Exchange Commission, or the SEC, we currently qualify for treatment as a "foreign private issuer" and, as such, may elect to comply with certain reduced public company reporting requirements for this and future filings. As a foreign private issuer, we will not be required to file periodic reports and financial statements with the Securities and Exchange Commission, or the SEC, as frequently or as promptly as domestic registrants whose securities are registered under the Securities Exchange Act of 1934, as amended, or the Exchange Act. Prior to completing this offering, we will not rely on home country practice to be exempted from certain of the corporate governance requirements of the Nasdaq. If we choose to do so in the future, we may utilize these exemptions for as long as we continue to qualify as a foreign private issuer. See "*Risk Factors — Risks Related to Our Ordinary Shares and This Offering*" starting from page 48 and "Prospectus Summary *— Implications of Being a Foreign Private Issuer*." on page 15 of this prospectus. All of our operations are conducted by our indirect wholly owned Operating Subsidiary in Hong Kong, a special

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administrative region of the People's Republic of China ("China" or the "PRC"), with its own governmental and legal system that is independent from Mainland China, including having its own distinct laws and regulations. We do not have any operation or maintain office or personnel in Mainland China. Furthermore, none of our customers are located in Mainland China; however, certain of our suppliers are based there. We currently do not have or intend to set up any subsidiary in Mainland China, and do not foresee the need to enter into any contractual arrangements with a variable interest entity ("VIE") to establish a VIE structure in Mainland China. As of the date of this prospectus, as advised by Bird & Bird, our counsel as to the laws of Hong Kong, we are not subject to the PRC government's direct influence or discretion over the manner in which we conduct our business activities outside of the PRC.

However, due to long-arm provisions under the current PRC laws and regulations, there remains regulatory uncertainty with respect to the implementation and interpretation of laws in China. Should the PRC government choose to exercise significant oversight and discretion over the conduct of our business, it may intervene in or influence our operations. Such governmental actions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• could result in a material change in our operations and/or the value of our securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• could significantly limit or completely hinder our ability to continue our operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• could significantly limit or completely hinder our ability to offer or continue to offer our securities to investors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• may cause the value of our securities to significantly decline or be worthless.

We are aware that recently, the PRC government has initiated a series of regulatory actions and new policies to regulate business operations in certain areas in China, including cracking down on illegal activities in the securities market, enhancing supervision over China-based companies listed overseas using a VIE structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. It is also highly uncertain what the potential impact such modified or new laws and regulations will have on our daily business operations, its ability to accept foreign investments and the listing of our Ordinary Shares on U.S. or other foreign exchanges. The PRC government may intervene or influence Ask Idea's operations at any time and may exert more control over offerings conducted overseas and foreign investment in Hong Kong-based issuers. The PRC government may also intervene or impose restrictions on our ability to move out of Hong Kong to distribute earnings and pay dividends or to reinvest in our business outside of Hong Kong. Furthermore, PRC regulatory authorities may, in the future, promulgate laws, regulations or implementing rules that require our Operating Subsidiary or us to obtain regulatory approval from PRC authorities before this offering. These actions could result in a material change in our operations and could significantly limit or completely hinder our ability to complete this offering or cause the value of our Ordinary Shares to significantly decline or become worthless. See "*Prospectus Summary — Recent Regulatory Developments in the PRC*" beginning on page 10.

As advised by Bird & Bird, our counsel as to the laws of Hong Kong, pursuant to the Basic Law of Hong Kong, or the Basic Law, which is a national law of the PRC and the constitutional document for Hong Kong, national laws of the PRC shall not be applied in Hong Kong except for those listed in Annex III of the Basic Law (which shall be confined to laws relating to defense and foreign affairs as well as other matters outside the autonomy of Hong Kong). Whilst the National People's Congress of the PRC, or the NPC, has the power to amend the Basic Law, the Basic Law also expressly provides that no amendment to the Basic Law shall contravene the established basic policies of the PRC regarding Hong Kong. As a result, national laws of the PRC not listed in Annex III of the Basic Law, including rules and regulations established by the Cyberspace Administration of China (the "CAC") and the China Securities Regulatory Commission (the "CSRC"), do not apply to our businesses in Hong Kong.

Uncertainties still exist, however, due to the possibility that laws, regulations, or policies in the PRC could change rapidly in the future. In the event that (i) the PRC government expanded the categories of industries and companies whose foreign securities offerings are subject to review by the CSRC or the CAC and that we are required to obtain such permissions or approvals, or (ii) we inadvertently concluded that relevant permissions or approvals were not required or that we did not receive or maintain relevant permissions or approvals required, any action taken by the PRC government could significantly limit or completely hinder our operations in Hong Kong and our ability to offer or continue to offer our Ordinary Shares to investors and could cause the value of such securities to significantly decline or be worthless and even delisting if our Ordinary Shares. The delisting of our Ordinary Shares, or the threat of their being delisted, may materially and adversely affect the value of your investment in the future.

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Furthermore, as more stringent criteria, including the Holding Foreign Companies Accountable Act (the "HFCAA"), have been imposed by the SEC and the Public Company Accounting Oversight Board ("PCAOB"), recently, our Ordinary Shares may be prohibited from trading if our auditor cannot be fully inspected. Our auditor, TAAD LLP, the independent registered public accounting firm that issues the audit report included in this prospectus, as an auditor of companies that are traded publicly in the United States and a firm registered with the PCAOB, is subject to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess TAAD LLP's compliance with applicable professional standards. TAAD LLP is headquartered in the United States and can be inspected by the PCAOB. As of the date of this prospectus, our auditor is not subject to the determinations announced by the PCAOB on December 16, 2021, relating to the PCAOB's inability to inspect or investigate completely registered public accounting firms headquartered in Mainland China or Hong Kong because of a position taken by one or more authorities in the PRC or Hong Kong. On August 26, 2022, the SEC issued a statement announcing that the PCAOB signed a Statement of Protocol with the CSRC and the Ministry of Finance of the PRC, governing inspections and investigations of audit firms based in Mainland China and Hong Kong. Pursuant to the Statement of Protocol, the PCAOB has independent discretion to select any issuer audits for inspection or investigation and has unfettered ability to transfer information to the SEC. However, uncertainties still exist whether this new framework will be fully complied with. On December 15, 2022, the PCAOB Board determined that the PCAOB was able to secure complete access to inspect and investigate registered public accounting firms headquartered in Mainland China and Hong Kong and voted to vacate its previous determinations to the contrary. However, should PRC authorities obstruct or otherwise fail to facilitate the PCAOB's access in the future, the PCAOB Board will consider the need to issue a new determination. On December 29, 2022, the Accelerating Holding Foreign Companies Accountable Act was enacted, which amended the HFCAA by requiring the SEC to prohibit an issuer's securities from trading on any U.S. stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three. See "Risk Factors — Risks Related to Our Ordinary Shares and This Offering — *Our Ordinary Shares may be prohibited from being traded on a national exchange under the Holding Foreign Companies Accountable Act if the PCAOB is unable to inspect our auditors. The delisting of our Ordinary Shares, or the threat of their being delisted, may materially and adversely affect the value of your investment. Furthermore, on June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act, which was signed into law on December 29, 2022, amending the HFCAA to require the SEC to prohibit an issuer's securities from trading on any U.S. stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three.*" on page 49. We cannot assure you whether Nasdaq or other regulatory authorities will apply additional or more stringent criteria to us. Such uncertainty could cause the market price of our Ordinary Shares to be materially and adversely affected.

Our management monitors the cash position of Ask Idea regularly and prepares budgets on a monthly basis to ensure it has the necessary funds to fulfill its obligations for the foreseeable future and to ensure adequate liquidity. In the event that there is a need for cash or a potential liquidity issue, it will be reported to our Chief Financial Officer and subject to approval by our board of directors.

No regulatory approval is required for Idea Tech Cayman to transfer cash to its subsidiaries: Idea Tech Cayman is permitted under the laws of the Cayman Islands and its memorandum and articles of association (as amended from time to time) to provide funding to our subsidiaries incorporated in Hong Kong through loans or capital contributions. As a holding company, Idea Tech Cayman may rely on dividends and other distributions on equity paid by its subsidiaries for its cash and financing requirements. According to the Companies Ordinance of Hong Kong, a Hong Kong company may only make a distribution out of profits available for distribution. If any of Idea Tech Cayman's subsidiaries incur debt on its own behalf in the future, the instruments governing such debt may restrict their ability to pay dividends to Idea Tech Cayman. Additionally, as of the date of this prospectus, there are no further Hong Kong statutory restrictions on the amount of funds that may be distributed by us by dividend. However, in the future, funds may not be available to fund operations or for other uses outside of Hong Kong due to interventions in or the imposition of restrictions and limitations on our ability or our Hong Kong subsidiaries' ability by the PRC government to transfer cash. Any limitation on the ability of our Hong Kong subsidiaries to make payments to us could have a material adverse effect on our ability to conduct our business and might materially decrease the value of our Ordinary Shares or cause them to be worthless. For a more detailed discussion of how the cash is transferred within our organization, see "*Transfers of Cash to and from Our Subsidiaries*" on page 4 and "Risk Factors — Risks Related to Our Ordinary Shares and This Offering *— We rely on dividends and other distributions on equity paid by our subsidiaries to fund any cash and financing requirements we may have. In the future, funds may not be available to fund operations or for other use outside of Hong Kong, due to interventions in, or the imposition of restrictions and limitations on, our ability or our Hong Kong subsidiaries by the PRC government to transfer cash. Any limitation on the ability of our subsidiaries to make payments to us could have a material adverse effect on our ability to conduct our business and might materially decrease the value of our Ordinary Shares or cause them to be worthless*" on page 52 of this prospectus.

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An annual dividend from Ask Idea for the 12-month ended December 31, 2021 of US$504,752 was declared on August 31, 2022, of which US$51,039 and US$453,713 were paid during the years ended June 30, 2022 and 2023, respectively. An annual dividend from Ask Idea for the 12-month ended December 31, 2022 of US$1,231,842 was declared on May 15, 2023, of which US$127,611 and US$1,104,231 were paid during the years ended June 30, 2023 and 2024, respectively. An annual dividend from Ask Idea for the 12-month ended December 31, 2023 of US$640,344 was declared on June 3, 2024, which was paid between July and October 2024. Other than those mentioned above, as of the date of this prospectus, neither Idea Tech Cayman, Idea Tech Limited ("Idea Tech HK"), nor Ask Idea has declared or made any dividend or other distribution to their shareholders, including U.S. investors, in the past, nor have any dividends or distributions been made by subsidiaries to our Cayman Islands holding company. Idea Tech Cayman and its subsidiaries do not have any plans to distribute earnings in the foreseeable future. For a more detailed discussion of how cash is transferred among Idea Tech Cayman and its subsidiaries, see "Prospectus Summary *— Transfers of Cash to and from Our Subsidiaries*" beginning on page 4, "*Dividend Policy*" on page 63 and the audited consolidated financial statements and the accompanying footnotes beginning on F-1 of this prospectus.

Under the current practice of the Inland Revenue Department of Hong Kong, no tax is payable in Hong Kong in respect of dividends paid by us. As of the date of this prospectus, there are no restrictions or limitations under the laws of Hong Kong imposed on the conversion of HK$ into foreign currencies and the remittance of currencies out of Hong Kong or across borders and to U.S. investors. The laws and regulations of the PRC do not currently have any material impact on the transfer of cash from Idea Tech Cayman to Ask Idea or from Ask Idea to Idea Tech Cayman, our shareholders and U.S. investors. However, the PRC government may, in the future, impose restrictions or limitations on our ability to transfer money out of Hong Kong, distribute earnings and pay dividends to and from the other entities within our organization, or reinvest in our business outside of Hong Kong. Such restrictions and limitations, if imposed in the future, may delay or hinder the expansion of our business outside of Hong Kong and may affect our ability to receive funds from our operating subsidiary in Hong Kong. The promulgation of new laws or regulations, or the new interpretation of existing laws and regulations, in each case, that restrict or otherwise unfavorably impact the ability or way we conduct our business, could require us to change certain aspects of our business to ensure compliance, which could decrease demand for our services, reduce revenues, increase costs, require us to obtain more licenses, permits, approvals or certificates, or subject us to additional liabilities. For a more detailed discussion of this risk, see "*Transfers of Cash to and from Our Subsidiaries*" on page 4 and "*Risk Factors — Risks Related to Our Ordinary Shares and This Offering — We rely on dividends and other distributions on equity paid by our subsidiaries to fund any cash and financing requirements we may have. In the future, funds may not be available to fund operations or for other use outside of Hong Kong, due to interventions in, or the imposition of restrictions and limitations on, our ability or our Hong Kong subsidiaries by the PRC government to transfer cash. Any limitation on the ability of our subsidiaries to make payments to us could have a material adverse effect on our ability to conduct our business and might materially decrease the value of our Ordinary Shares or cause them to be worthless*" on page 52 of this prospectus.

**Neither the U.S. Securities and Exchange Commission nor any state securities commission nor any other regulatory body has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

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| | | |
|:---|:---|:---|
|  | **Per Share** | **Total<sup>(4)</sup>** |
|  Initial public offering price<sup>(1)</sup> | $4.50 | $9000000 |
|  Underwriting discounts<sup>(2)</sup> | $0.315 | $630000 |
|  Proceeds to us, before expenses<sup>(3)</sup> | $4.185 | $8370000 |

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____________

(1) The initial public offering price per Ordinary Share is assumed as US$4.50 per share in this prospectus, which is the midpoint of the range set forth on the cover page of this prospectus. For more information, see "*Underwriting*" beginning on page 132 of this prospectus.

(2) We have agreed to pay R.F. Lafferty & Co., Inc., the representative of the underwriters (the "Representative") a discount equal to seven percent (7.0%) of the gross proceeds of the Offering. In addition to the compensation referenced above, we have also agreed to pay the Representative a non-accountable expense allowance in the amount equal to one percent (1.0%) of the gross proceeds to us of this offering. For more information, see "*Underwriting*" beginning on page 132 of this prospectus.

(3) The total estimated expenses related to this offering are set forth in the section entitled "*Expenses Relating to This Offering*."

(4) Assumes that the Representative does not exercise any portion of its over-allotment option.

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This offering is being conducted on a firm commitment basis. The Representative is obligated to take and pay for all of the Ordinary Shares if any such shares are taken. We have granted the Representative an option, for a period of 45 days from the closing of the Offering, to purchase up to 300,000 additional Ordinary Shares, which represents fifteen percent (15%) of the total number of the Ordinary Shares to be offered by us pursuant to this Offering (excluding Ordinary Shares subject to this option), solely for the purpose of covering over-allotments, at the public offering price less the underwriting discounts. If the Representative exercises the over-allotment option in full, the total underwriting discounts payable will be US$724,500 based on an assumed offering price of US$4.50 per Ordinary Share, and the total gross proceeds to us, before underwriting discounts and commissions and expenses, will be US$10,350,000.

The Representative expects to deliver the Ordinary Shares to purchasers in the Offering on or about , 2025.

![](trf_logo.jpg)

Prospectus dated , 2025

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#### **TABLE OF CONTENTS**

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| | |
|:---|:---|
|  | **Page** |
|  [PROSPECTUS SUMMARY](#T20) | 1 |
|  [RISK FACTORS](#T19) | 18 |
|  [SPECIAL NOTES REGARDING FORWARD-LOOKING STATEMENTS](#T1500) | 61 |
|  [USE OF PROCEEDS](#T18) | 62 |
|  [DIVIDEND POLICY](#T17) | 63 |
|  [CAPITALIZATION](#T16) | 64 |
|  [DILUTION](#T15) | 65 |
|  [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#T1502) | 67 |
|  [Industry](#T14) | 82 |
|  [BUSINESS](#T13) | 87 |
|  [REGULATIONS](#T12) | 98 |
|  [MANAGEMENT](#T11) | 102 |
|  [PRINCIPAL SHAREHOLDERS](#T10) | 110 |
|  [RELATED PARTY TRANSACTIONS](#T9) | 112 |
|  [DESCRIPTION OF SHARE CAPITAL](#T8) | 114 |
|  [SHARES ELIGIBLE FOR FUTURE SALE](#T7) | 123 |
|  [TAXATION](#T6) | 124 |
|  [ENFORCEABILITY OF CIVIL LIABILITIES](#T5) | 130 |
|  [UNDERWRITING](#T4) | 132 |
|  [EXPENSES RELATING TO THIS OFFERING](#T1501) | 137 |
|  [LEGAL MATTERS](#T3) | 138 |
|  [EXPERTS](#T2) | 138 |
|  [WHERE YOU CAN FIND ADDITIONAL INFORMATION](#T1) | 138 |
|  [INDEX TO CONSOLIDATED FINANCIAL STATEMENTS](#T1503) | F-1 |

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**We are responsible for the information contained in this prospectus and any free writing prospectus we prepare or authorize. We have not, and the underwriters have not, authorized anyone to provide you with different information, and we and the underwriters take no responsibility for any other information others may give you. We are not, and the underwriters are not, making an offer to sell our Ordinary Shares in any jurisdiction where the offer or sale is not permitted. You should not assume that the information contained in this prospectus is accurate as of any date other than the date on the front cover of this prospectus, regardless of the time of delivery of this prospectus or the sale of any Ordinary Shares.**

For investors outside the United States: Neither we nor any of the underwriters have done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction, other than the United States, where action for that purpose is required. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of the Ordinary Shares and the distribution of this prospectus outside the United States.

Idea Tech Cayman is incorporated under the laws of the Cayman Islands as an exempted company with limited liability and a majority of our outstanding securities are owned by non-U.S. residents. Under the rules of the SEC, we currently qualify for treatment as a "foreign private issuer." As a foreign private issuer, we will not be required to file periodic reports and financial statements with the SEC as frequently or as promptly as domestic registrants whose securities are registered under the Exchange Act.

**Until and including , 2025 (25 days after the date of this prospectus), all dealers that buy, sell or trade our Ordinary Shares, whether or not participating in this offering, may be required to deliver a prospectus. This delivery requirement is in addition to the obligation of dealers to deliver a prospectus when acting as underwriters and with respect to their unsold allotments or subscriptions.**

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#### CONVENTIONS THAT APPLY TO THIS PROSPECTUS
Unless otherwise indicated or the context requires otherwise in this prospectus, references to

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "$," "dollars," "US$," or "U.S. dollars" are to the legal currency of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Amended and Restated Memorandum and Articles of Association" refers to our amended and restated memorandum and articles of association to be effective immediately prior to the completion of this offering, and each is referred to as the Amended Memorandum and the Amended Articles herein below;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "China" or "PRC" are to the People's Republic of China, including the special administrative regions of Hong Kong and Macau for the purposes of this prospectus only;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "FY2023" and "FY2024" refer to fiscal year ended June 30, 2024 and 2023, respectively;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "HK$" and "HK Dollar" are to the legal currency of Hong Kong;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Hong Kong" or "HK" are to the Hong Kong Special Administrative Region of the People's Republic of China for the purposes of this prospectus only;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Idea Tech Cayman" are to Idea Tech Holding Limited, an exempted company incorporated under the laws of the Cayman Islands;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Idea Tech HK" are to Idea Tech Limited, an entity incorporated under the laws and regulations in Hong Kong and a wholly owned subsidiary of Idea Tech Holding Limited;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Mainland China" are to the Mainland China of the PRC, excluding Taiwan, the special administrative regions of Hong Kong and Macau for the purposes of this prospectus only;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Memorandum and Articles of Association" refers to the memorandum of association and the articles of association of Idea Tech Cayman (as defined above) adopted on July 15, 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Operating Subsidiary" or "Ask Idea" are to ASK Idea (Hong Kong) Limited, an entity incorporated under the laws and regulations in Hong Kong and a wholly owned subsidiary of Idea Tech Limited;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Ordinary Shares" are to the ordinary shares of Idea Tech Holding Limited, par value US$0.0001 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "PRC government" or "Chinese government" are to the government of Mainland China for the purposes of this prospectus only;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "PRC laws and regulations" or "PRC laws" are to the laws and regulations of Mainland China;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "SEC" refers to the United States Securities and Exchange Commission;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Securities Act" are to the US Securities Act of 1933, as amended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "STEM education" are to the teaching and learning approach that integrates science, technology, engineering and math;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "U.S. GAAP" are to generally accepted accounting principles in the United States; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "We", "Group", "us", "or "our" refer to Idea Tech Cayman, the Cayman Islands holding company that will issue the Ordinary Shares being offered, and its subsidiaries.

We do not have any material operations of our own. We are a holding company with operations conducted in Hong Kong through our Operating Subsidiary, Ask Idea, using Hong Kong dollars, the currency of Hong Kong. The reporting currency of Ask Idea is in Hong Kong dollars. This prospectus contains translations of certain foreign currency amounts into U.S. dollars for the convenience of the reader. Assets and liabilities are translated into U.S. dollars at the closing rate of exchange as of the balance sheet dates, the statement of income is translated using an average rate of exchange in effect during the reporting periods, and the equity accounts are translated at historical exchange rates. Translation adjustments resulting from this process are included in accumulated other comprehensive income (loss). Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency

ii

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other than the functional currency are included in the results of operations as incurred. The balance sheet amounts, with the exception of shareholders' equity on December 31, 2024 and 2023, were translated at HK$7.7617 to $1.00 and HK$7.8109 to $1.00, respectively. The shareholders' equity accounts were stated at their historical rate. The average translation rates applied to the statement of income accounts for the six months ended December 31, 2024 and 2023 were HK$7.7788 to $1.00 and HK$7.8272 to $1.00, respectively. Cash flows are also translated at average translation rates for the periods. The balance sheet amounts, with the exception of shareholders' equity on June 30, 2024 and 2023, were translated at HK$7.8083 to $1.00 and HK$7.8363 to $1.00, respectively. The shareholders' equity accounts were stated at their historical rate. The average translation rates applied to the statement of income accounts for the fiscal years ended June 30, 2024 and 2023 were HK$7.8225 to $1.00 and HK$7.8357 to $1.00, respectively. Cash flows are also translated at average translation rates for the periods. Therefore, amounts reported on the statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. No representation is made that the HK$ amounts could have been, or could be, converted, realized, or settled into US$ at such rate or any other rate.

The following table outlines the exchange rates between HK$ and US$ that are used in preparing these consolidated financial statements:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the year ended <br>June 30,** | **For the year ended <br>June 30,** | **For the six months ended <br>December 31,** | **For the six months ended <br>December 31,** |
|  | **2023** | **2024** | **2023** | **2024** |
|  **Average rate** | 7.8357 | 7.8225 | 7.8272 | 7.7788 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of June 30,** | **As of June 30,** | **As of December 31,** | **As of December 31,** |
|  | **2023** | **2024** | **2023** | **2024** |
|  **Period-end spot rate** | 7.8363 | 7.8083 | 7.8109 | 7.7617 |

---

We have made rounding adjustments to some of the figures included in this prospectus. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that preceded them.

Unless the context indicates otherwise, all information in this prospectus assumes no exercise by the Representative of its over-allotment option.

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#### PROSPECTUS SUMMARY
*This summary highlights information contained in greater detail elsewhere in this prospectus. This summary is not complete and does not contain all of the information you should consider in making your investment decision. You should read the entire prospectus carefully before making an investment in our Ordinary Shares. You should carefully consider, among other things, our consolidated financial statements and the related notes and the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" included elsewhere in this prospectus.*

#### Overview
We are a leading provider of STEM and technological innovation education solutions. Idea Tech Holding Limited is a Cayman Islands holding company with no operation of its own. We conduct all our operations in Hong Kong through the Operating Subsidiary, Ask Idea. Our core business focuses on providing innovative training programs and high-quality educational products to meet the specific needs of our customers in Hong Kong.

The Company is an authorized distributor of drones and related products supplied under a distribution agreement with iFlight Technology Company Limited ("iFlight"), a wholly owned subsidiary of DJI Company Limited ("DJI")<sup>1</sup>. While our agreement is not directly with DJI or Shenzhen DJI Innovations Technology Co., Ltd. ("Shenzhen DJI"), and does not provide for formal exclusivity, to our knowledge, we are a leading provider of DJI drone-based educational solutions in Hong Kong.

In addition, we are the exclusive distributor of educational drones under the HuLa brand in Hong Kong under an agreement with High Great Innovation Technology Development Co., Ltd. ("High Great"), and we also distribute to other geographic markets, including Malaysia, Taiwan, South Korea, and Thailand, on an non-exclusive basis. We are also the exclusive authorized distributor of BattleAce educational and competitive combat robots in Hong Kong. Furthermore, we offer training in artificial intelligence (AI) robotics, emphasizing key learning points in machine learning and AI technologies.

#### Our Competitive Strengths
We believe that the following competitive strengths contribute to our success and differentiate us from our competitors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We are led by a dedicated and experienced management team with extensive industry experience in educational technology and business development, whose strategic leadership supports our ongoing growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We have established a strong market presence in Hong Kong, with our STEM programs reaching 35% of primary and secondary schools as of 2024, supported by established relationships with leading technology companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We have maintained strong relationships with both customers and suppliers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our offerings combine innovative educational content with advanced technologies such as DJI drones, enabling us to deliver distinctive and competitive learning experiences.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our wide-ranging, age-appropriate STEM curricula align with Hong Kong Education Bureau standards and have benefited over 5,000 students across 345 schools as of 2024.

#### Our Growth Strategies
We intend to grow our business by pursuing the following four-phase strategy:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Phase 1 — Expansion into Mainland China**. We plan to expand into major cities in mainland China through local distributor partnerships to accelerate market entry, navigate regulatory requirements, and leverage established networks.

____________

1 Based on publicly available corporate information, iFlight is a wholly owned subsidiary of DJI Company Limited and, in turn, holds 100% of the equity interests in Shenzhen DJI Innovations Technology Co., Ltd., which is DJI's principal operating company in mainland China.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Phase 2 — Global Content Localization and Standardization**. We aim to adapt and align our AI and STEM programs with international standards and cultural expectations to support future global expansion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Phase 3 — Integration of Third**-party **Offline Hardware**. We intend to enhance learning experiences by incorporating third-party hardware, though this strategy presents technical and operational challenges.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Phase 4 — Business Expansion into Overseas Markets**. We plan to enter selected overseas markets, particularly in Southeast Asia, by forming local partnerships, customizing offerings, and increasing brand visibility.

In addition, we plan to develop an integrated education platform focused on AI and programming that can serve as a central hub for students and educators. This platform will provide access to a wide range of educational resources, including online courses and certification programs, creating a space for continuous learning and professional growth. We believe this digital infrastructure will support continuous learning and long-term user engagement.

#### Our Challenges
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Changing Educational Priorities:** Our growth is supported by STEM-focused government initiatives, but shifts in education policy, funding, or curriculum priorities may reduce demand for our offerings and require ongoing adaptation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Rapid Technological Advancements:** We must continuously invest in research & development to keep pace with fast-evolving technology and evolving user expectations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Increasing Customer Expectations:** Rising customer demands may require us to enhance our workforce capabilities and expand service offerings, leading to increased operational costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Reliance on Key Suppliers and Partners:** Our reliance on key suppliers, such as iFlight and High Great presents a risk, as any disruption could affect our competitiveness and revenue, despite our efforts to diversify through new partnerships.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Limited Operating History:** With a relatively short operating history since 2018, we face challenges in forecasting, scaling, and sustaining long-term company growth in a dynamic and competitive industry.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Risks Associated with International Expansion:** Our international expansion efforts expose us to regulatory, operational, and market risks, and require substantial investment with uncertain acceptance of our offerings.

The following table sets forth a breakdown of our revenues by geographic area.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the year ended June 30,** | **For the year ended June 30,** | **For the year ended June 30,** | **For the year ended June 30,** |
|  | **2024** | **2024** | **2023** | **2023** |
|  | **US$** | **%** | **US$** | **%** |
|  Hong Kong | 4535741 | 99.08% | 5123511 | 100.00% |
|  Other countries | 42072 | 0.92% |  | 0.00% |
|  **Total** | **4577813** | **100.00%** | **5123511** | **100.00%** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the six months ended December 31,** | **For the six months ended December 31,** | **For the six months ended December 31,** | **For the six months ended December 31,** |
|  | **2024** | **2024** | **2023** | **2023** |
|  | **US$** | **%** | **US$** | **%** |
|  Hong Kong | 1937493 | 97.24% | 2103956 | 99.29% |
|  Other countries | 55073 | 2.76% | 14948 | 0.71% |
|  **Total** | **1992566** | **100.00%** | **2118904** | **100.00%** |

---

#### Corporate History and Reorganization
Idea Tech Cayman was incorporated under the laws of the Cayman Islands as a limited company on July 15, 2024 as a holding company, for purposes of effectuating this Offering. Idea Tech Cayman is a holding company and is currently not actively engaging in any business. On the date of its incorporation, Idea Tech Cayman issued and allotted one (1) Ordinary Share to Ogier Global Subscriber (Cayman) Limited.

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On August 30, 2024, Ogier Global Subscriber (Cayman) Limited transferred one (1) Ordinary Share to DS Premium Healthcare Limited. On the same date, Idea Tech Cayman issued and allotted a certain number of Ordinary Shares to Ultimate Honour Group Limited, 3all FinTech Holding Limited, Art Plus Technology Limited, DS Premium Healthcare Limited, Yu Fang, Jingxin Feng, Jumbo Will Limited, Hanqi Li, Bohong Liu, Minhua Liu, Saijun Ni, respectively:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1,450,000 Ordinary Shares to Ultimate Honour Group Limited for a consideration of US$145.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 465,000 Ordinary Shares to 3all FinTech Holding Limited for a consideration of US$46.50.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 580,000 Ordinary Shares to Art Plus Technology Limited for a consideration of US$58.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 3,882,999 Ordinary Shares to DS Premium Healthcare Limited for a consideration of US$388.2999.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 375,000 Ordinary Shares to Yu Fang for a consideration of US$37.50.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 615,000 Ordinary Shares to Jingxin Feng for a consideration of US$61.50.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 3,250,000 Ordinary Shares to Jumbo Will Limited for a consideration of US$325.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 253,000 Ordinary Shares to Hanqi Li for a consideration of US$25.30.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 622,000 Ordinary Shares to Bohong Liu for a consideration of US$62.20.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 405,000 Ordinary Shares to Minhua Liu for a consideration of US$40.50.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 602,000 Ordinary Shares to Saijun Ni for a consideration of US$60.20.

Prior to the Reorganization as described below, our Company historically conducted our business through Ask Idea, a company incorporated under the laws of Hong Kong.

Ask Idea was incorporated under the law of Hong Kong on August 14, 2018. Since its inception, Ask Idea has been specializing in offering innovative training programs and high-quality educational products.

In 2022, as part of our business development prior to the Reorganization, Ask Idea was wholly owned by EDU Blockchain Limited, a company incorporated under the laws of Hong Kong ("EDU Blockchain"). EDU Blockchain is not included in the Group (as defined below).

Pursuant to the Reorganization in July 2024, as described below, Idea Tech Cayman became the holding company of Ask Idea through the intermediate holding company, Idea Tech HK. Upon the completion of the Reorganization on September 20, 2024, Idea Tech Cayman became the holding company of its subsidiaries. Idea Tech Cayman and its subsidiaries are collectively referred to as the "Group."

As of the date of this prospectus, details of Idea Tech Cayman's subsidiaries are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  **Name** | **Background** | **Ownership** | **Principal activities** |
|  Idea Tech Limited ("Idea Tech HK") | — A Hong Kong company <br> — Incorporated on September 12, 2024 | Wholly-owned by the Company | Investment holding |
|  ASK Idea (Hong Kong) Limited ("Ask Idea") | — A Hong Kong company <br> — Incorporated on August 14, 2018 | Wholly-owned by Idea Tech HK | Provision of innovative training programs and high-quality educational products |

---

#### The Reorganization
In this prospectus, we refer to the following events as the "Reorganization."

As part of the Reorganization, on September 12, 2024, Idea Tech HK was incorporated under the laws of Hong Kong. On the date of its incorporation, one (1) ordinary share was allotted and issued to Idea Tech Cayman, and Idea Tech HK became wholly owned by Idea Tech Cayman.

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On September 20, 2024, EDU Blockchain, the sole shareholder of Ask Idea, transferred 10,000 ordinary shares, representing 100% ownership of Ask Idea, to Idea Tech HK for a consideration of HKD1.00, and Ask Idea became wholly owned by Idea Tech HK.

After completing the Reorganization, Ask Idea became indirectly wholly owned by Idea Tech Cayman through the intermediate holding company Idea Tech HK.

#### Corporate Structure
The following diagram illustrates our corporate legal structure and identifies our subsidiaries as of the date of this prospectus and upon completion of this Offering (assuming no exercise of the over-allotment option).

![](tflowchart_001.jpg)

#### Holding Company Structure
Idea Tech Cayman is a holding company incorporated in the Cayman Islands with no material operations of its own. We conduct all our operations in Hong Kong through Ask Idea, our sole operating subsidiary as of the date of this prospectus. This is an offering of the Ordinary Shares of Idea Tech Cayman, the holding company in the Cayman Islands, instead of the shares of Ask Idea. Investors in this offering will not directly hold any equity interests in Ask Idea.

As a result of our corporate structure, Idea Tech Cayman's ability to pay dividends may depend upon dividends paid by Ask Idea. If our existing operating subsidiary Ask Idea or any newly formed ones incur debt on their own behalf in the future, the instruments governing their debt may restrict their ability to pay dividends to us.

#### Transfers of Cash to and from Our Subsidiaries
For Idea Tech Cayman to transfer cash to its subsidiaries, Idea Tech Cayman is permitted under the laws of the Cayman Islands to provide funding to its subsidiaries incorporated in Hong Kong through loans or capital contributions without restrictions on the amount of the funds. According to the Companies Ordinance of Hong Kong, a Hong Kong company may only make a distribution out of profits available for distribution. Other than the above, we did not adopt or maintain any cash management policies and procedures as of the date of this prospectus.

An annual dividend from Ask Idea for the 12-month ended December 31, 2021 of US$504,752 was declared on August 31, 2022, of which US$51,039 and US$453,713 were paid during the years ended June 30, 2022 and 2023, respectively. An annual dividend from Ask Idea for the 12-month ended December 31, 2022 of US$1,231,842 was

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declared on May 15, 2023, of which US$127,611 and US$1,104,231 were paid during the years ended June 30, 2023 and 2024, respectively. An annual dividend from Ask Idea for the 12-month ended December 31, 2023 of US$640,344 was declared on June 3, 2024, which was paid between July and October 2024. Other than those mentioned above, as of the date of this prospectus, neither Idea Tech Cayman, Idea Tech HK, nor Ask Idea has declared or made any other dividend or other distribution to its shareholders, including U.S. investors, in the past, nor have any dividends or distributions been made by subsidiaries to our Cayman Islands holding company.

Under the current practice of the Inland Revenue Department of Hong Kong, no tax is payable in Hong Kong in respect of dividends paid by us. The laws and regulations of Mainland China do not currently have any material impact on the transfer of cash from Idea Tech Cayman to our subsidiaries or from our subsidiaries to Idea Tech Cayman. There are no restrictions on foreign exchange, and there are no limitations on the abilities of Idea Tech Cayman to transfer cash to or from our subsidiaries or to investors under Hong Kong Law. There are no restrictions or limitations under the laws of Hong Kong imposed on the conversion of HK dollar into foreign currencies and the remittance of currencies out of Hong Kong, nor is there any restriction on any foreign exchange to transfer cash between Idea Tech Cayman and its subsidiaries, across borders and to U.S. investors, nor there are any restrictions and limitations to distribute earnings from our subsidiaries to Idea Tech Cayman and U.S. investors and amounts owed.

For Idea Tech Cayman to make dividends to its shareholders, subject to the Companies Act (As Revised) of the Cayman Islands, which we refer to as the Companies Act below, and our Amended and Restated Memorandum and Articles of Association, our board of directors may authorize and declare a dividend to shareholders from time to time out of the profits from Idea Tech Cayman, realized or unrealized, or out of the share premium account, provided that Idea Tech Cayman will remain solvent, meaning Idea Tech Cayman is able to pay its debts as they come due in the ordinary course of business.

We do not have any present plan to declare or pay dividends on our Ordinary Shares in the foreseeable future. We currently intend to retain all available funds and future earnings, if any, for the operation and expansion of our business. Any future determination related to our dividend policy will be made at the discretion of our board of directors after considering our financial condition, results of operations, capital requirements, contractual requirements, business prospects, and other factors the board of directors deems relevant and subject to the restrictions contained in any future financing instruments, in our Amended and Restated Memorandum and Articles of Association and the Companies Act. See "*Dividend Policy*" on page 63 and "*Risk Factors — Risks Related to Our Ordinary Shares — We rely on dividends and other distributions on equity paid by our subsidiaries to fund any cash and financing requirements we may have. In the future, funds may not be available to fund operations or for other use outside of Hong Kong, due to interventions in, or the imposition of restrictions and limitations on, our ability or our Hong Kong subsidiaries by the PRC government to transfer cash. Any limitation on the ability of our subsidiaries to make payments to us could have a material adverse effect on our ability to conduct our business and might materially decrease the value of our Ordinary Shares or cause them to be worthless*" on page 52 for more information.

#### Enforceability of Civil Liabilities
We are incorporated under the laws of the Cayman Islands as an exempted company with limited liability. All of our assets are located outside the United States. In addition, a majority of our directors and officers are nationals or residents of jurisdictions other than the United States and all or a substantial portion of their assets are located outside the United States. As a result, it may be difficult for investors to effect service of process within the United States upon us or these persons or to enforce judgments obtained in U.S. courts against them or us, including judgments predicated upon the civil liability provisions of the securities laws of the United States or any state in the United States. It may also be difficult for you to enforce judgments obtained in U.S. courts based on the civil liability provisions of the U.S. federal securities laws against us and our officers and directors.

We have appointed Cogency Global Inc., located at 122 East 42<sup>nd</sup> Street, 18<sup>th</sup> Floor New York, NY 10168, as our agent upon whom process may be served in any action brought against us under the securities laws of the United States.

Ogier, our counsel as to the laws of the Cayman Islands, has advised us that there is uncertainty as to whether the courts of the Cayman Islands would (i) recognize or enforce judgments of U.S. courts obtained against us or our directors or officers predicated upon the civil liability provisions of the securities laws of the United States or any state in the United States, or (ii) entertain original actions brought in the Cayman Islands against us or our directors or officers predicated upon the securities laws of the United States or any state in the United States.

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Ogier has informed us that there is uncertainty with regard to Cayman Islands law related to whether a judgment obtained from the U.S. courts under civil liability provisions of U.S. securities laws will be determined by the courts of the Cayman Islands as penal or punitive in nature. If such a determination is made, the courts of the Cayman Islands will not recognize or enforce the judgment against a Cayman Islands company, such as our company. As the courts of the Cayman Islands have yet to rule on making such a determination in relation to judgments obtained from U.S. courts under civil liability provisions of U.S. securities laws, it is uncertain whether such judgments would be enforceable in the Cayman Islands. Ogier has informed us that although there is no statutory enforcement in the Cayman Islands of judgments obtained in the federal or state courts of the United States (and the Cayman Islands is not a party to any treaties for the reciprocal enforcement or recognition of such judgments), the courts of the Cayman Islands will, at common law, recognize and enforce a foreign monetary judgment of a foreign court of competent jurisdiction without any re-examination of the merits of the underlying dispute based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the liquidated sum for which such judgment has been given, provided such judgment (a) is given by a foreign court of competent jurisdiction, (b) imposes on the judgment debtor a liability to pay a liquidated sum for which the judgment has been given, (c) is final and conclusive, (d) is not in respect of taxes, a fine or a penalty, and (e) was not obtained in a manner and is not of a kind the enforcement of which is contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). However, the Cayman Islands courts are unlikely to enforce a judgment obtained from the U.S. courts under civil liability provisions of the U.S. federal securities law if such judgment is determined by the courts of the Cayman Islands to give rise to obligations to make payments that are penal or punitive in nature. A Cayman Islands court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

All of our assets are located outside the United States. In addition, a majority of our directors and officers are nationals or residents of jurisdictions other than the United States and all or a substantial portion of their assets are located outside the United States. As a result, it may be difficult for investors to effect the service of process within the United States upon us or these persons.

#### Summary of Risk Factors
Investing in our Ordinary Shares involves significant risks. You should carefully consider all of the information in this prospectus before making an investment in our Ordinary Shares. Below please find a summary of the principal risks we face, organized under relevant headings. These risks are discussed more carefully in the section titled "*Risk Factors*" beginning on page 18 of this prospectus.

#### Risks Related to Our Business and Industry

#### Risks and uncertainties relating to our business and industry, beginning on page 18 of this prospectus, include but are not limited to the following:
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We have a limited operating history. As such, our historical results of operations and financial performance may not be indicative of future performance and we may not accurately forecast our future revenue, results of operations, and growth prospects. See "*Risk Factors — Risks Related to Our Business and Industry — We have a limited operating history. As such, our historical results of operations and financial performance may not be indicative of future performance and we may not accurately forecast our future revenue, results of operations, and growth prospects" on page 18.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we are unable to attract new customers in a cost-effective manner, then our business, results of operations and financial condition will be adversely affected. See "*Risk Factors — Risks Related to Our Business and Industry — If we are unable to attract new customers in a cost*-effective *manners then our business, results of operations and financial condition will be adversely affected" on page 20.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Failure to effectively develop and expand our marketing and sales capabilities could harm our ability to increase our customer base and achieve broader market acceptance of our platform. If our sales and marketing strategies are not successful, our ability to attract new customers may be impaired. See "*Risk Factors — Risks Related to Our Business and Industry — Failure to effectively develop and expand our marketing and sales capabilities could harm our ability to increase our customer base and achieve broader market acceptance of our platform. If our sales and marketing strategies are not successful, our ability to attract new customers may be impaired" on page 20.*

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our customer base and brand recognition in Hong Kong rely in part on our commercial relationships with iFlight and High Great, and any disruption in these relationships could adversely affect our business, financial condition, and results of operations. See "*Risk Factors — Risks Related to Our Business and Industry — Our customer base and brand recognition in Hong Kong rely in part on our commercial relationships with iFlight and High Great. Any disruption in these relationships could adversely affect our business, financial condition, and results of operations." on page 20.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We collaborate with High Great, as the exclusive authorized distributor, to distribute educational drones in Hong Kong under the HuLa brand. If we fail to maintain or enhance the brand recognition of HuLa, our ability to attract customers and expand our market presence may be negatively impacted, which could adversely affect our financial condition. See "*Risk Factors — Risks Related to Our Business and Industry — We collaborate with High Great to distribute educational drones under the HuLa brand. If we fail to maintain or enhance the brand recognition of HuLa, our ability to attract customers and expand our market presence may be negatively impacted, which could adversely affect our financial condition" on page 21.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the market for the STEM educational programs and products in Hong Kong develops more slowly than we expect, our revenue may decline or fail to grow, potentially resulting in operating losses. See "*Risk Factors — Risks Related to Our Business and Industry — If the market for the STEM educational programs and products in Hong Kong develops more slowly than we expect, our revenue may decline or fail to grow, potentially resulting in operating losses" on page 21.*

#### Risks Related to Doing Business in Hong Kong
***Risks and uncertainties related to doing business in Hong Kong in general, beginning on page 37 of this prospectus, including but not limited to the following:***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• All of our operations are in Hong Kong. However, due to the long-arm application of the current PRC laws and regulations, the PRC government may exercise significant direct oversight and discretion over the conduct of our business and may intervene or influence our operations, which could result in a material change in our operations and/or the value of our Ordinary Shares. Our Operating Subsidiary in Hong Kong may be subject to the laws and regulations of Mainland China, which may impact our ability to operate profitably and result in a material negative impact on our operations and/or the value of our Ordinary Shares. Furthermore, the changes in the policies, laws, regulations, rules, and enforcement of laws of Mainland China may also occur quickly with little advance notice and our assertions and beliefs of the risk imposed by the Mainland China legal and regulatory system cannot be certain. See "*Risk Factors — Risks Related to Doing Business in Hong Kong — All of our operations are in Hong Kong. However, due to the long*-arm *application of the current PRC laws and regulations, the PRC government may exercise significant direct oversight and discretion over the conduct of our business and may intervene or influence our operations, which could result in a material change in our operations and/or the value of our Ordinary Shares. Our Operating Subsidiary in Hong Kong may be subject to the laws and regulations of Mainland China, which may impact our ability to operate profitably and result in a material negative impact on our operations and/or the value of our Ordinary Shares. Furthermore, the changes in the policies, laws, regulations, rules, and enforcement of laws of Mainland China may also occur quickly with little advance notice and our assertions and beliefs of the risk imposed by the Mainland China legal and regulatory system cannot be certain" on page 37.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• There remain significant uncertainties as to whether we will be required to obtain approvals from Chinese authorities to list on the U.S. exchanges and offer securities in the future, and if required, we cannot assure you that we will be able to obtain such approval. We may become subject to a variety of PRC laws and other obligations regarding data security in relation to offerings that are conducted overseas, and any failure to comply with applicable laws and obligations could have a material and adverse effect on our business, financial condition and results of operations and may hinder our ability to offer or continue to offer Ordinary Shares to investors and cause the value of our Ordinary Shares to significantly decline or be worthless. See "*Risk Factors — Risks Related to Doing Business in Hong Kong — There remain significant uncertainties as to whether we will be required to obtain approvals from Chinese authorities to list on the U.S. exchanges and offer securities in the future, and if required, we cannot assure you that we will be able to obtain such* 

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*approval. We may become subject to a variety of PRC laws and other obligations regarding data security in relation to offerings that are conducted overseas, and any failure to comply with applicable laws and obligations could have a material and adverse effect on our business, financial condition and results of operations and may hinder our ability to offer or continue to offer Ordinary Shares to investors and cause the value of our Ordinary Shares to significantly decline or be worthless" on page 39.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Although we and our subsidiaries are not based in Mainland China and we have no operations in Mainland China, the PRC government may intervene or influence our current and future operations in Hong Kong at any time, or may exert more control over offerings conducted overseas and/or foreign investment in issuers like us. It may result in a material adverse change in our operations, significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value of our securities to significantly decline or become worthless, which would materially affect the interests of the investors. See "*Risk Factors — Risks Related to Doing Business in Hong Kong — Although we and our subsidiaries are not based in Mainland China and we have no operations in Mainland China, the PRC government may intervene or influence our current and future operations in Hong Kong at any time, or may exert more control over offerings conducted overseas and/or foreign investment in issuers like us. It may result in a material adverse change in our operations, significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value of our securities to significantly decline or become worthless, which would materially affect the interests of the investors" on page 42.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The enactment of Law of the PRC on Safeguarding National Security in the Hong Kong Special Administrative Region (the "Hong Kong National Security Law") could impact our Hong Kong subsidiaries. See "*Risk Factors — Risks Related to Doing Business in Hong Kong — The enactment of Law of the PRC on Safeguarding National Security in the Hong Kong Special Administrative Region (the "Hong Kong National Security Law") could impact our Hong Kong subsidiaries" on page 43.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Compliance with Hong Kong's Personal Data (Privacy) Ordinance and any such other existing or future data privacy related laws, regulations and governmental orders may entail significant expenses and could materially affect our business. See "*Risk Factors — Risks Related to Doing Business in Hong Kong — Compliance with Hong Kong's Personal Data (Privacy) Ordinance and any such other existing or future data privacy related laws, regulations and governmental orders may entail significant expenses and could materially affect our business." on page 44.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the PRC government chooses to extend the oversight and control over offerings that are conducted overseas and/or foreign investment in Mainland China-based issuers to Hong Kong-based issuers, such action may significantly limit or completely hinder our ability to offer or continue to offer Ordinary Shares to investors and cause the value of our Ordinary Shares to significantly decline or be worthless. See "*Risk Factors — Risks Related to Doing Business in Hong Kong — If the PRC government chooses to extend the oversight and control over offerings that are conducted overseas and/or foreign investment in Mainland China*-based *issuers to Hong Kong*-based *issuers, such action may significantly limit or completely hinder our ability to offer or continue to offer Ordinary Shares to investors and cause the value of our Ordinary Shares to significantly decline or be worthless." on page 43.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• All of our operations are concentrated in Hong Kong. Our business performance is highly influenced by the economic, political, and social conditions of Hong Kong. Unfavorable market and economic conditions and the material deterioration of the political and regulatory environment in Hong Kong, Mainland China, and elsewhere in the world could materially and adversely affect our business, financial condition, prospects, and results of operations. See "*Risk Factors — Risks Related to Doing Business in Hong Kong — All of our operations are concentrated in Hong Kong. Our business performance is highly influenced by the economic, political, and social conditions of Hong Kong. Unfavorable market and economic conditions and the material deterioration of the political and regulatory environment in Hong Kong, Mainland China, and elsewhere in the world could materially and adversely affect our business, financial condition, prospects, and results of operations" on page 45.*

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A downturn in Hong Kong, mainland China, the global economy, or a change in China's economic and political policies could materially and adversely affect our business and financial condition. See "*Risk Factors — Risks Related to Doing Business in Hong Kong — A downturn in the Hong Kong, Mainland China, or the global economy, or a change in the economic and political policies of China, could materially and adversely affect our business and financial condition" on page 47.*

#### Risks Related to Our Ordinary Shares and This Offering
***Risks and uncertainties related to our Ordinary Shares and this offering, beginning on page 48 of this prospectus, include but are not limited to the following:***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• There has been no public market for our Ordinary Shares prior to this Offering, and you may not be able to resell our Ordinary Shares at or above the price you paid or at all. See "*Risk Factors — Risks Related to Our Ordinary Shares and This Offering — There has been no public market for our Ordinary Shares prior to this Offering, and you may not be able to resell our Ordinary Shares at or above the price you paid or at all" on page 48.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our Ordinary Shares may be prohibited from being traded on a national exchange under the Holding Foreign Companies Accountable Act if the PCAOB is unable to inspect our auditors. The delisting of our Ordinary Shares, or the threat of their being delisted, may materially and adversely affect the value of your investment. Furthermore, on June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act, which was signed into law on December 29, 2022, amending the HFCAA to require the SEC to prohibit an issuer's securities from trading on any U.S. stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three. See "*Risk Factors — Risks Related to Our Ordinary Shares and This Offering — Our Ordinary Shares may be prohibited from being traded on a national exchange under the Holding Foreign Companies Accountable Act if the PCAOB is unable to inspect our auditors. The delisting of our Ordinary Shares, or the threat of their being delisted, may materially and adversely affect the value of your investment. Furthermore, on June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act, which was signed into law on December 29, 2022, amending the HFCAA to require the SEC to prohibit an issuer's securities from trading on any U.S. stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three" on page 49.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We may experience extreme stock price volatility unrelated to our actual or expected operating performance, financial condition, or prospects, making it difficult for prospective investors to assess the rapidly changing value of our Ordinary Shares. See "*Risk Factors — Risks Related to Our Ordinary Shares and This Offering — We may experience extreme stock price volatility unrelated to our actual or expected operating performance, financial condition, or prospects, making it difficult for prospective investors to assess the rapidly changing value of our Ordinary Shares" on page 50.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The initial public offering price for our Ordinary Shares may not be indicative of prices that will prevail in the trading market, and such market prices may be volatile. See "*Risk Factors — Risks Related to Our Ordinary Shares and This Offering — The initial public offering price for our Ordinary Shares may not be indicative of prices that will prevail in the trading market, and such market prices may be volatile" on page 52.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We rely on dividends and other distributions on equity paid by our subsidiaries to fund any cash and financing requirements we may have. In the future, funds may not be available to fund operations or for other uses outside of Hong Kong, due to interventions in, or the imposition of restrictions and limitations on, our ability or our Hong Kong subsidiaries by the PRC government to transfer cash. Any limitation on the ability of our subsidiaries to make payments to us could have a material adverse effect on our ability to conduct our business and might materially decrease the value of Ordinary Shares or cause them to be worthless. See "*Risk Factors — Risks Related to Our Ordinary Shares and This Offering — We rely on dividends and other distributions on equity paid by our subsidiaries to fund any cash and financing requirements we may have. In the future, funds may not be available to fund operations or for other uses outside of Hong Kong, due to interventions in, or the imposition of restrictions and limitations on, our ability or our Hong Kong subsidiaries by the PRC government to transfer cash. Any limitation on the* 

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*ability of our subsidiaries to make payments to us could have a material adverse effect on our ability to conduct our business and might materially decrease the value of Ordinary Shares or cause them to be worthless" on page 52.*

#### Recent Regulatory Development in the PRC
We are a holding company incorporated in the Cayman Islands, with all the operations conducted by an operating entity in Hong Kong. We and our subsidiaries are not based in Mainland China and do not have operations in Mainland China. Furthermore, none of our customers are located in Mainland China; however, certain of our suppliers are based there. We currently do not have or intend to set up any subsidiary in Mainland China or do not foresee the need to enter any contractual arrangements with a VIE to establish a VIE structure in Mainland China. As of the date of this prospectus, we and our Hong Kong subsidiaries have received all requisite licenses, permissions, or approvals from Hong Kong and the Cayman authorities needed to engage in the businesses currently conducted in Hong Kong and the Cayman Islands, and no permission or approval has been denied. See "*Business — Licenses, Certificates and Approvals.*"

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, which serves as Hong Kong's constitution. Pursuant to the Basic Law, which is a national law of the PRC and the constitutional document for Hong Kong, national laws of the PRC shall not be applied in Hong Kong except for those listed in Annex III of the Basic Law and applied locally by promulgation or local legislation. The Basic Law expressly provides that the national laws of the PRC, which may be listed in Annex III of the Basic Law shall be confined to those relating to defense and foreign affairs as well as other matters outside the autonomy of Hong Kong. The basic policies of the PRC regarding Hong Kong as a special administrative region of the PRC are reflected in the Basic Law, providing 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."

In light of China's recent expansion of authority in Hong Kong, there are risks and uncertainties which we cannot foresee for the time being, and rules, regulations and the enforcement of laws in China can change quickly with little or no advance notice. If there is a significant change to current political arrangements between Mainland China and Hong Kong, we may be subject to uncertainty about any future actions of the PRC government or authorities in Hong Kong, and it is possible that all the legal and operational risks associated with being based in and having operations in the PRC may also apply to operations in Hong Kong in the future. There is no assurance that there will not be any changes in the economic, political and legal environment in Hong Kong in the future. The PRC government may intervene or influence our current and future operations in Hong Kong at any time, or may exert more control over offerings conducted overseas and/or foreign investment in issuers like us. Such governmental actions, if and when occur: (i) could significantly limit or completely hinder our ability to continue our operations; (ii) could significantly limit or hinder our ability to offer or continue to offer our Ordinary Shares to investors; and (iii) may cause the value of our Ordinary Shares to significantly decline or be worthless.

We are aware that, recently, the PRC government initiated a series of regulatory actions and statements to regulate business operations in certain areas in Mainland China, including cracking down on illegal activities in the securities market, enhancing supervision over Mainland China-based companies listed overseas using a variable interest entity structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. For example, on June 10, 2021, the Standing Committee of the National People's Congress enacted the PRC Data Security Law, which took effect on September 1, 2021. The law requires data collection to be conducted in a legitimate and proper manner, and stipulates that, for the purpose of data protection, data processing activities must be conducted based on data classification and a hierarchical protection system for data security. On July 6, 2021, the General Office of the Communist Party of China Central Committee and the General Office of the State Council jointly issued a document to crack down on illegal activities in the securities market and promote the high-quality development of the capital market, which, among other things, requires the relevant governmental authorities to strengthen cross-border oversight of law-enforcement and judicial cooperation, to enhance supervision over Mainland China-based companies listed overseas, and to establish and improve the system of extraterritorial application of the PRC securities laws.

On August 20, 2021, the 30<sup>th</sup> meeting of the Standing Committee of the 13<sup>th</sup> National People's Congress voted and passed the "Personal Information Protection Law of the People's Republic of China," or "PRC Personal Information Protection Law," which became effective on November 1, 2021. The PRC Personal Information Protection Law applies

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to the processing of personal information of natural persons within the territory of Mainland China that is carried out outside of Mainland China where (1) such processing is for the purpose of providing products or services for natural persons within Mainland China, (2) such processing is to analyze or evaluate the behavior of natural persons within Mainland China, or (3) there are any other circumstances stipulated by related laws and administrative regulations.

On December 24, 2021, the CSRC, together with other relevant government authorities in Mainland China, issued the Provisions of the State Council on the Administration of Overseas Securities Offering and Listing by Domestic Companies (Draft for Comments) and the Measures for the Filing of Overseas Securities Offering and Listing by Domestic Companies (Draft for Comments) (collectively to be referred as the "Draft Overseas Listing Regulations"). The Draft Overseas Listing Regulations require that a Mainland China domestic enterprise seeking to issue and list its shares overseas shall complete the filing procedures of and submit the relevant information to CSRC. The Overseas Issuance and Listing include direct and indirect issuance and listing. Where an enterprise whose principal business activities are conducted in Mainland China seeks to issue and list its shares in the name of an overseas enterprise ("Overseas Issuer") on the basis of the equity, assets, income or other similar rights and interests of the relevant Mainland China domestic enterprise, such activities shall be deemed an indirect overseas issuance and listing ("Indirect Overseas Issuance and Listing") under the Draft Overseas Listing Regulations. On December 28, 2021, the CAC, jointly with the relevant authorities, formally published the Measures for Cybersecurity Review (2021), which took effect on February 15, 2022 and replaced the former Measures for Cybersecurity Review (2020) issued on July 10, 2021. The Measures for Cybersecurity Review (2021) provide that operators of critical information infrastructure purchasing network products and services and online platform operators (together with the operators of critical information infrastructure, the "Operators") carrying out data processing activities that affect or may affect national security, shall conduct a cybersecurity review, any online platform operator who controls more than one million users' personal information must go through a cybersecurity review by the cybersecurity review office if it seeks to be listed in a foreign country.

On February 17, 2023, the CSRC promulgated the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies (the "Trial Administrative Measures"), which took effect on March 31, 2023. The Trial Administrative Measures further clarified and emphasized that the comprehensive determination of the "indirect overseas offering and listing by PRC domestic companies" shall comply with the principle of "substance over form," and particularly, an issuer will be required to go through the filing procedures under the Trial Administrative Measures if the following criteria are met at the same time: a) 50% or more of the issuer's operating revenue, total profits, total assets or net assets as documented in its audited consolidated financial statements for the most recent accounting year are accounted for by PRC domestic companies, and b) the main parts of the issuer's business activities are conducted in Mainland China, or its main places of business are located in Mainland China, or the senior managers in charge of its business operation and management are mostly Chinese citizens or domiciled in Mainland China. Furthermore, the Trial Administrative Measures and its supporting guidelines provide a negative list of types of issuers banned from listing overseas, the issuers' obligation to comply with national security measures and personal data protection laws, and certain other matters such as the requirements that an issuer (i) file with the CSRC within three business days after it submits an application for initial public offering to the competent overseas regulator and (ii) file subsequent reports with the CSRC on material events, including change of control and voluntary or forced delisting, after its overseas offering and listing.

Idea Tech Cayman is a holding company incorporated in the Cayman Islands with an operating entity solely based in Hong Kong, and it does not have any subsidiary or VIE in Mainland China or intend to acquire any equity interest in any domestic companies within Mainland China, nor is it controlled by any companies or individuals of Mainland China. Further, we are headquartered in Hong Kong with our officers, and all members of the board of directors based in Hong Kong who are not Mainland China citizens and all of our revenues and profits are generated by our Operating Subsidiary in Hong Kong and we have not generated revenues or profits from Mainland China in the most recent accounting year accounts for more than 50% of the corresponding figure in our audited consolidated financial statements for the same period. As such, we do not believe we would be subject to PRC law and regulations or be required to file with the CSRC under the Trial Administrative Measures.

We do not currently expect the Trial Administrative Measures to have an impact on our business, operations or this Offering, nor do we anticipate we or any of our Hong Kong subsidiaries are covered by permission requirements from the CAC that is required to approve our Operating Subsidiary's operations, as we do not believe that we may be deemed to be an "operator of critical information infrastructure" or a "data processor" controlling personal information of no less than one million users, that are required to file for cybersecurity review before listing in the U.S., because (i) all of

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our operations are conducted by our Operating Subsidiary which currently solely serve the Hong Kong local market, we currently have no operations in Mainland China; (ii) we do not have or intend to have any subsidiary, nor do we have or intend to establish a VIE structure with any entity in Mainland China, nor we are controlled by any Mainland Chinese company or individual directly or indirectly; (iii) as of the date of this prospectus, Ask Idea did not collect or store any personal information of individual customers of Mainland China; (v) we do not place any reliance on collection and processing of any personal information to maintain our business operation; (vi) data processed in our business should not have a bearing on national security nor affect or may affect national security; (vii) all of the data our Operating Subsidiary have collected is stored in servers located in Hong Kong; and (viii) as of the date of this prospectus, Ask Idea has not been informed by any PRC governmental authority of any requirement that it file for a cybersecurity review. Moreover, pursuant to the Basic Law of the Hong Kong Special Administrative Region, or the Basic Law, PRC laws and regulations shall not be applied in Hong Kong except for those listed in Annex III of the Basic Law (which is confined to laws relating to national defense, foreign affairs and other matters that are not within the scope of autonomy).

However, there remains uncertainty as to how the Trial Administrative Measures will be interpreted or implemented, and the relevant PRC governmental authority may not take a view that is consistent with our Hong Kong counsel. Also, significant uncertainty exists in relation to the interpretation and enforcement of relevant PRC cybersecurity laws and regulations. If we were deemed to be an "operator of critical information infrastructure" or a "data processor" controlling the personal information of no less than one million users under the Measures, or if other regulations promulgated in relation to the Measures are deemed to apply to us, our business operations and the listing of our Ordinary Shares in the U.S. could be subject to cybersecurity review by the Cyberspace Administration of China, or the CAC, in the future.

As confirmed by our Hong Kong counsel, pursuant to the Basic Law of the Hong Kong Special Administrative Region, or the Basic Law, which is a national law of the PRC and the constitutional document for Hong Kong, national laws of the PRC shall not be applied in Hong Kong except for those listed in Annex III of the Basic Law (which shall be confined to laws relating to defense and foreign affairs as well as other matters outside the autonomy of Hong Kong).Whilst the National People's Congress of the PRC, or the NPC, has the power to amend the Basic Law, the Basic Law also expressly provides that no amendment to the Basic Law shall contravene the established basic policies of the PRC regarding Hong Kong. As a result, national laws of the PRC not listed in Annex III of the Basic Law, including the PRC Data Security Law, The Measures for Cybersecurity Review (2021 Version) and the Regulations on Network Data Security Protection (Draft for Comments) do not apply to our businesses in Hong Kong.

However, since these laws, regulations and regulatory actions are new, it is highly uncertain how soon the legislative or administrative regulation making bodies will respond and what existing or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any. It is also highly uncertain what the potential impact such modified or new laws and regulations will have on our Operating Subsidiary's daily business operation and the listing of our Ordinary Shares on a United States or other foreign exchanges. Since the Trial Measures was newly promulgated, its interpretation, application and enforcement remain unclear and there also remains significant uncertainty as to the enactment, interpretation and implementation of other regulatory requirements related to overseas securities offerings and other capital markets activities. If the Trial Administrative Measures become applicable to us or our Operating Subsidiary in Hong Kong, if our Operating Subsidiary is deemed to be an "Operator," or if the Measures for Cybersecurity Review (2021) or the PRC Personal Information Protection Law become applicable to the Operating Subsidiary in Hong Kong, the business operation of the Operating Subsidiary and the listing of our Ordinary Shares in the United States could be subject to the CAC's cybersecurity review or the CSRC Overseas Issuance and Listing review in the future. While we do not believe we are covered by the permission requirements from CSRC or CAC, investors of our company and our business may face potential uncertainty from actions taken by the PRC government affecting our business. If the applicable laws, regulations, or interpretations change and our Operating Subsidiary become subject to the CAC or CSRC review, we cannot assure you that our Operating Subsidiary will be able to comply with the regulatory requirements in all respects and our current practice of collecting and processing personal information may be ordered to be rectified or terminated by regulatory authorities.

Moreover, if there is a significant change to the current political arrangements between Mainland China and Hong Kong, or the applicable laws, regulations, or interpretations change, and/or if we were required to obtain such permissions or approvals in the future in connection with the listing or continued listing of our securities on a stock exchange outside of the PRC, it is uncertain how long it will take for us to obtain such approval, and, even if we obtain such approval, the approval could be rescinded. Any failure to obtain or a delay in obtaining the necessary permissions

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from the PRC authorities to conduct offerings or list outside of the PRC may subject us to sanctions imposed by the CSRC, CAC, or other PRC regulatory authorities. It could include fines and penalties, proceedings against us, and other forms of sanctions, and our ability to conduct our business, invest in Mainland China as foreign investments or accept foreign investments, ability to offer or continue to offer Ordinary Shares to investors or list on the U.S. or other overseas exchange may be restricted, and the value of our Ordinary Shares may significantly decline or be worthless, our business, reputation, financial condition, and results of operations may be materially and adversely affected. The CSRC, the CAC, or other PRC regulatory agencies also may take actions requiring us, or making it advisable for us, to halt this offering before settlement and delivery of our Ordinary Shares. Consequently, if you engage in market trading or other activities in anticipation of and prior to settlement and delivery, you do so at the risk that settlement and delivery may not occur. In addition, if the CSRC, the CAC, or other regulatory PRC agencies later promulgate new rules requiring that we obtain their approvals for this offering, we may be unable to obtain a waiver of such approval requirements, if and when procedures are established to obtain such a waiver. Any uncertainties and/or negative publicity regarding such an approval requirement could have a material adverse effect on the trading price of our securities. See "*Risk Factors — Risks Related to Doing Business in Hong Kong — If the PRC government chooses to extend the oversight and control over offerings that are conducted overseas and/or foreign investment in Mainland China*-based *issuers to Hong Kong*-based *issuers, such action may significantly limit or completely hinder our ability to offer or continue to offer Ordinary Shares to investors and cause the value of our Ordinary Shares to significantly decline or be worthless*" on page 43, and "*There remain some uncertainties as to whether we will be required to obtain approvals from the PRC authorities to list on the U.S. exchanges and offer securities in the future, and if required, we cannot assure you that we will be able to obtain such approval. We may become subject to a variety of PRC laws and other obligations regarding data security in relation to offerings that are conducted overseas, and any failure to comply with applicable laws and obligations could have a material and adverse effect on our business, financial condition and results of operations and may hinder our ability to offer or continue to offer Ordinary Shares to investors and cause the value of our Ordinary Shares to significantly decline or be worthless*" on page 39.

#### Recent PCAOB Developments
The Holding Foreign Companies Accountable Act, or the HFCAA, was enacted on December 18, 2020. The HFCAA states if the SEC determines that we have filed audit reports issued by a registered public accounting firm that has not been subject to inspection by the PCAOB for three consecutive years beginning in 2021, the SEC shall prohibit our shares from being traded on a national securities exchange or in the over-the-counter trading market in the United States.

On March 24, 2021, the SEC adopted interim final rules relating to the implementation of certain disclosure and documentation requirements of the HFCAA. A company will be required to comply with these rules if the SEC identifies it as having a "non-inspection" year under a process to be subsequently established by the SEC. The SEC is assessing how to implement other requirements of the HFCAA, including the listing and trading prohibition requirements described above. Furthermore, on June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act, which was signed into law on December 29, 2022, amending the HFCAA and requiring the SEC to prohibit an issuer's securities from trading on any U.S. stock exchange if its auditor is not subject to PCAOB inspections for two consecutive years instead of three consecutive years. On September 22, 2021, the PCAOB adopted a final rule implementing the HFCAA, which provides a framework for the PCAOB to use when determining, as contemplated under the HFCAA, whether the PCAOB is unable to inspect or investigate completely registered public accounting firms located in a foreign jurisdiction because of a position taken by one or more authorities in that jurisdiction. On December 2, 2021, the SEC issued amendments to finalize rules implementing the submission and disclosure requirements in the HFCAA. The rules apply to registrants that the SEC identifies as having filed an annual report with an audit report issued by a registered public accounting firm that is located in a foreign jurisdiction and that PCAOB is unable to inspect or investigate completely because of a position taken by an authority in foreign jurisdictions. On December 16, 2021, the PCAOB issued a Determination Report, which found that the PCAOB is unable to inspect or investigate completely registered public accounting firms headquartered in (i) China, and (ii) Hong Kong.

On August 26, 2022, the PCAOB announced and signed a Statement of Protocol (the "Protocol") with the CSRC and the Ministry of Finance of the PRC. The Protocol provides the PCAOB with (1) sole discretion to select the firms, audit engagements and potential violations it inspects and investigates, without any involvement of Chinese authorities; (2) procedures for PCAOB inspectors and investigators to view complete audit work papers with all information included and for the PCAOB to retain information as needed; (3) direct access to interview and take testimony from all personnel associated with the audits the PCAOB inspects or investigates.

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On December 15, 2022, the PCAOB issued a new Determination Report which: (1) vacated the December 16, 2021 Determination Report; and (2) concluded that the PCAOB has been able to conduct inspections and investigations completely in the PRC in 2022. The December 15, 2022 Determination Report cautions, however, that authorities in the PRC might take positions at any time that would prevent the PCAOB from continuing to inspect or investigate completely. As required by the HFCAA, if in the future the PCAOB determines it can no longer inspect or investigate completely because of a position taken by an authority in the PRC, the PCAOB will act expeditiously to consider whether it should issue a new determination.

Our auditor, TAAD LLP, the independent registered public accounting firm that issues the audit report included elsewhere in this prospectus, as a firm headquartered in California and registered with the PCAOB, is subject to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess our auditor's compliance with the applicable professional standards with the last inspection in 2024. As of the date of this prospectus, our auditor is not subject to and not affected by the PCAOB's December 2021 Determination Report. However, in the event it is later determined that the PCAOB is unable to inspect or investigate completely the auditor because of a position taken by an authority in a foreign jurisdiction, such as the PRC authorities, then such lack of inspection could cause trading in the Company's securities to be prohibited under the HFCAA, and ultimately result in a determination by a securities exchange to delist the Company's securities. Furthermore, as more stringent criteria have been imposed by the SEC and the PCAOB, recently, which would add uncertainties to our offering, and we cannot assure you whether Nasdaq or regulatory authorities would apply additional and more stringent criteria to us after considering the effectiveness of our auditor's audit procedures and quality control procedures, adequacy of personnel and training, or sufficiency of resources, geographic reach or experience as it relates to the audit of our financial statements. See "*Risk Factors — Risks Related to our Ordinary Shares and this Offering — Our Ordinary Shares may be prohibited from being traded on a national exchange under the Holding Foreign Companies Accountable Act if the PCAOB is unable to inspect our auditors. The delisting of our Ordinary Shares, or the threat of their being delisted, may materially and adversely affect the value of your investment. Furthermore, on June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act, which was signed into law on December 29, 2022, amending the HFCAA to require the SEC to prohibit an issuer's securities from trading on any U.S. stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three*" on page 49.

#### Implications of Being an "Emerging Growth Company"
As a company with less than $1.235 billion in revenue during our last fiscal year, we qualify as an "emerging growth company" as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. An "emerging growth company" may take advantage of reduced reporting requirements that are otherwise generally applicable to public companies. In particular, as an emerging growth company, we:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• may present only two years of audited financial statements and only two years of related Management's Discussion and Analysis of Financial Condition and Results of Operations, or MD&A;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• are not required to provide a detailed narrative disclosure discussing our compensation principles, objectives, and elements and analyzing how those elements fit with our principles and objectives, which is commonly referred to as "compensation discussion and analysis";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• are not required to obtain an attestation and report from our independent registered accounting firm on our management's assessment of our internal control over financial reporting pursuant to the Sarbanes-Oxley Act of 2002;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• are not required to obtain a non-binding advisory vote from our shareholders on executive compensation or golden parachute arrangements (commonly referred to as the "say-on-pay," "say-on frequency," and "say-on-golden-parachute" votes);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• are exempt from certain executive compensation disclosure provisions requiring a pay-for-performance graph and CEO pay ratio disclosure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• are eligible to claim longer phase-in periods for the adoption of new or revised financial accounting standards under §107 of the JOBS Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• will not be required to conduct an evaluation of our internal control over financial reporting for two years.

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We intend to take advantage of all of these reduced reporting requirements and exemptions, including the longer phase-in periods for the adoption of new or revised financial accounting standards under §107 of the JOBS Act. Our election to use the phase-in periods may make it difficult to compare our financial statements to those of non-emerging growth companies and other emerging growth companies that have opted out of the phase-in periods under §107 of the JOBS Act.

Under the JOBS Act, we may take advantage of the above-described reduced reporting requirements and exemptions for up to five years after our initial sale of common equity pursuant to a registration statement declared effective under the Securities Act of 1933, as amended, herein referred to as the Securities Act, or such earlier time that we no longer meet the definition of an emerging growth company.

We will remain an emerging growth company until the earliest of: (i) the last day of the first fiscal year in which our annual gross revenue exceeds $1.235 billion; (ii) the last day of the fiscal year during which the fifth anniversary of the date of this Offering occurs; (iii) the date that we become a "large accelerated filer" as defined in Rule 12b-2 under the Exchange Act, which would occur if the market value of our ordinary shares that are held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter; or (iv) the date on which we have issued more than $1.00 billion in non-convertible debt securities during any three-year period.

#### Implications of Being a Foreign Private Issuer
Upon completion of this Offering, we will report under the Exchange Act as a non-U.S. company with foreign private issuer status. Even after we may no longer qualify as an emerging growth company, as long as we qualify as a foreign private issuer under the Exchange Act we will be exempt from certain provisions of the Exchange Act that are applicable to U.S. domestic public companies, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the rules under the Exchange Act that require U.S. domestic public companies to issue financial statements prepared under U.S. GAAP;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations in respect of a security registered under the Exchange Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the sections of the Exchange Act requiring insiders to file public reports of their stock ownership and trading activities and liability for insiders who profit from trades made in a short period of time; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q containing unaudited financial and other specific information, or current reports on Form 8-K, upon the occurrence of specified significant events.

We will file with the SEC, within four months after the end of each fiscal year (or such other reports required by the SEC), an annual report on Form 20-F containing financial statements audited by an independent registered public accounting firm.

We may take advantage of these exemptions until such time as we are no longer a foreign private issuer. We would cease to be a foreign private issuer at such time as more than 50% of our outstanding voting securities are held by U.S. residents and any of the following three circumstances applies: (i) the majority of our executive officers or directors are U.S. citizens or residents, (ii) more than 50% of our assets are located in the United States, or (iii) our business is administered principally in the United States.

Both foreign private issuers and emerging growth companies are also exempt from certain of the more extensive SEC executive compensation disclosure rules. Therefore, if we no longer qualify as an emerging growth company but remain a foreign private issuer, we will continue to be exempt from such rules and will continue to be permitted to follow our home country practice as to the disclosure of such matters.

Furthermore, Nasdaq Rule 5615(a)(3) provides that a foreign private issuer, such as us, may rely on its home country's corporate governance practices in lieu of certain of the rules in the Nasdaq Rule 5600 Series and Rule 5250(d), provided that it nevertheless complies with Nasdaq's notification of non-compliance requirement (Rule 5625), the voting rights requirement (Rule 5640) and that it has an audit committee that satisfies Rule 5605(c)(3), consisting of committee members that meet the independence requirements of Rule 5605(c)(2)(A)(ii). If we rely on our home

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country corporate governance practices in lieu of certain of the rules of Nasdaq, our shareholders may not have the same protections afforded to shareholders of companies that are subject to all of the corporate governance requirements of Nasdaq. Prior to completing this offering, we will not rely on home country practice to be exempted from certain of the corporate governance requirements of the Nasdaq. If we choose to do so in the future, we may utilize these exemptions for as long as we continue to qualify as a foreign private issuer.

#### Corporate Information
Our principal executive office is located at Room 721, 7/F Cyberport One, 100 Cyberport Road, Pokfulam, Hong Kong. Our telephone number at this address is +852 2503 3018. Our registered office in the Cayman Islands is located at the offices of Ogier Global (Cayman) Limited, 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands. Our agent for service of process in the United States is 122 East 42<sup>nd</sup> Street, 18<sup>th</sup> Floor New York, NY 10168.

Investors should contact us for any inquiries through the address and telephone number of our principal executive offices. We do not have a website at the moment but our subsidiary. The information contained on our website is not a part of this prospectus.

#### Impact of COVID-19
Since late December 2019, the outbreak of COVID-19 has spread rapidly throughout China and later to the rest of the world. On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization declared the outbreak a "Public Health Emergency of International Concern" ("PHEIC"), and later on March 11, 2020, a global pandemic. The COVID-19 outbreak has led governments across the globe to impose a series of measures intended to contain its spread, including border closures, travel bans, quarantine measures, social distancing, and restrictions on business operations and large gatherings. From 2020 to the middle of 2021, COVID-19 vaccination programs were greatly promoted around the globe. However, several types of COVID-19 variants emerged in different parts of the world.

Our business may be adversely affected if concerns relating to COVID-19 continue to restrict travel or result in the Company's personnel, vendors, and services providers being unavailable to pursue their business objectives free of COVID-19-related restrictions. The extent to which COVID-19 impacts our business in the future will depend on future developments, which are highly uncertain and cannot be predicted, including new information that may emerge concerning the severity of COVID-19 and the actions to contain COVID-19 or treat its impact, among others. If the disruptions posed by COVID-19 or other matters of global concerns continue for an extended period of time, our ability to pursue our business objectives may be materially adversely affected. In addition, our ability to raise equity and debt financing, which may be adversely impacted by COVID-19 and other events, including as a result of increased market volatility, decreased market liquidity, and third-party financing became unavailable on terms acceptable to us or at all.

By mid-2023, the global situation had stabilized to some degree, with most countries having lifted the majority of COVID-19 restrictions. However, the pandemic has left an indelible mark, both in terms of the lives lost and the profound economic and social disruption it has caused. Businesses across many industries, including our own, have had to adapt to the challenges posed by lockdowns, supply chain disruptions, changing consumer behavior, and ongoing uncertainty.

Any future impact on our results of operations will depend on, to a large extent, future developments and new information that may emerge regarding the duration and severity of the COVID-19 pandemic and the actions taken by government authorities and other entities to contain the spread or treat its impact, almost all of which are beyond our control. Given the general slowdown in economic conditions globally and volatility in the capital markets, as well as the general negative impact of the COVID-19 outbreak on the apparel industry, we cannot assure you that we will be able to maintain the growth rate we have experienced or projected. We will continue to closely monitor the situation throughout 2024 and beyond. For details regarding risks associated with COVID-19, refer to "*Risk Factors — Risks Related to Our Business and Industry — A sustained outbreak of the COVID*-19 *pandemic could have a material adverse impact on our business, operating results, and financial condition*" on page 36 of this prospectus.

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#### THE OFFERING

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| | |
|:---|:---|
|  **Issuer:** | Idea Tech Holding Limited |
|  **Ordinary Shares offered by us** | 2,000,000 Ordinary Shares (or 2,300,000 Ordinary Shares if the Representative exercises the over-allotment option in full) |
|  **Price Range per Ordinary Share** | Between US$4.00 and US$5.00 per Ordinary Share |
|  **Ordinary Shares issued and outstanding prior to completion of this Offering** | <br>12,500,000 Ordinary Shares |
|  **Ordinary Shares issued and outstanding immediately after this Offering** | <br>14,500,000 Ordinary Shares, assuming the over-allotment option is not exercised (or 14,800,000 Ordinary Shares if the Representative exercises the over-allotment option in full) |
|  **Over-allotment Option** | We have granted to the Representative an option, exercisable within 45 days from the closing of this Offering, to purchase up to an aggregate of 15% additional Ordinary Shares sold in this offering, excluding Ordinary Shares subject to this option, at the initial public offering price, less underwriting discounts. |
|  **Transfer Agent** | Vstock Transfer, LLC |
|  **Listing** | We have applied to list our Ordinary Shares on the Nasdaq Capital Market. The closing of this offering is conditioned upon Nasdaq's final approval of our listing application, and there is no guarantee or assurance that our Ordinary Shares will be approved for listing on the Nasdaq Capital Market. |
|  **Proposed Nasdaq Capital Market symbol** | We have reserved the symbol "IDTL" for purposes of listing our Ordinary Shares on the Nasdaq Capital Market. |
|  **Use of Proceeds** | We intend to use the proceeds from this Offering for expanding service capacity, marketing and branding, international expansion, and general working capital and corporate purposes. |
|  | See *"Use of Proceeds"* on page 62 for more information. |
|  **Lock-up** | The Company shall agree in writing that the Company, for a period of 12 months from the closing of the Offering, will not (a) offer, sell, or otherwise transfer or dispose of, directly or indirectly, any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company; or (b) file or caused to be filed any registration statement with the SEC relating to the offering of any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company.<br> All officers, directors, and shareholders of more than 5.0% of the Company's outstanding shares shall agree in writing, in a form satisfactory to the Underwriter, not to sell, transfer or otherwise dispose of any of such securities (or underlying securities) of the Company for a period of 12 months from the closing of the Offering, or any longer period required by FINRA, the U.S. exchanges or any State, without the express written consent of the Representative which consent may be given or withheld in the Representative's sole discretion.  |
|  | See "*Underwriting"* on page 132 for more information. |
|  **Risk Factors** | The Ordinary Shares offered hereby involve a high degree of risk. You should read "*Risk Factors,*" beginning on page 18 for a discussion of factors to consider before deciding to invest in our Ordinary Shares. |

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#### RISK FACTORS
*An investment in our Ordinary Shares involves a high degree of risk. Before deciding whether to invest in our Ordinary Shares, you should consider carefully the risks described below, together with all of the other information set forth in this prospectus, including the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operation" and our consolidated financial statements and related notes. If any of these risks actually occurs, our business, financial condition, results of operations or cash flow could be materially and adversely affected, which could cause the trading price of our Ordinary Shares to decline, resulting in a loss of all or part of your investment.*

#### Risks Related to Our Business and Industry
***We have a limited operating history at the current scale of our business, which makes it difficult to evaluate our current business and future prospects. We may not be able to scale our business for future growth.***

We began offering our education products and solutions in 2018, and we have a limited operating history at the current scale of our business. We have encountered, and will likely continue to encounter, risks and difficulties frequently experienced by growing companies in rapidly evolving industries, including challenges related to accurate financial planning and forecasting, increasing competition and expenses as we continue to grow our business, and attracting and retaining customers. You should consider our business and prospects in light of the risks and difficulties that we may encounter as a business with a limited operating history. We may not be successful in addressing these and other challenges we may face in the future, and our business, operating results, and financial condition may be adversely affected if we do not manage these risks successfully. We may not be able to maintain our current rate of growth, which is a risk characteristic often shared by companies with limited operating histories participating in rapidly evolving industries.

***We have a limited operating history. As such, our historical results of operations and financial performance may not be indicative of future performance and we may not accurately forecast our future revenue, results of operations, and growth prospects.***

Our total revenues decreased by US$126,338 or approximately 5.96% to US$1,992,566 for the six months ended December 31, 2024 from US$2,118,904 for the six months ended December 31, 2023. Our net income for the six months ended December 31, 2024 and 2023, was US$311,902 and US$399,620, respectively. Our total revenues decreased by US$545,698 or approximately 10.65% to US$4,577,813 for the fiscal year ended June 30, 2024 from US$5,123,511 for the fiscal year ended June 30, 2023. Our net income for the fiscal years ended June 30, 2024 and 2023, was US$1,037,826 and US$1,354,467, respectively. However, our relatively limited operating history makes it difficult to evaluate our current business and prospects and plan for our anticipated future growth. As a result of our limited operating history, our ability to accurately forecast our future results of operations is limited and subject to uncertainties. Our revenue is substantially dependent on the sale of software and hardware products for STEM education. As a result, a reduction in revenue from this source, whether due to increased competition, adverse market conditions, or a general reduction in demand for software and hardware products for STEM education or other factors, could adversely affect our operational results, cash flows, and liquidity. We sell these products on a project-by-project or order-by-order basis, with terms and pricing negotiated individually depending on factors including the complexity of the order, customer specifications, and our production capacity. Given the bespoke nature of these projects/orders, revenue from our sales of drones and robots may fluctuate and may not be recurrent. Therefore, revenue generated from each customer or contract differs, and we cannot ensure that future orders and pricing will match those during the six months ended December 31, 2024 and 2023, and the fiscal years ended June 30, 2024 and 2023.

We cannot assure you that we will be able to manage our growth at the same rate as we did in the past or avoid any decline in the future. We may not be successful in executing our growth strategy, and even if we achieve our strategic plan, we may not be able to sustain profitability. In future periods, our revenue could decline or grow more slowly than we expect. Furthermore, our ability to grow and generate incremental revenue for our software and hardware products for STEM education business depends, in part, on our ability to maintain and grow our relationships with existing customers. While the number of customers utilizing our drones and robots has increased recently, we cannot guarantee continued growth in new customer acquisition or retention of existing customers at the same pace. We may also incur significant losses in the future for a number of reasons, including as a result of the materialization of the risks described in this prospectus, and we may encounter unforeseen difficulties, complications, delays and other unknown factors. Looking forward, sustaining our growth and revenue will depend on factors including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Competitive pressures in the STEM education market, including new products from competitors or changes in pricing strategies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our ability to execute our business strategies effectively;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Customer satisfaction levels and their continued use of our products and services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The timeliness and reliability of our product deliveries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The occurrence and impact of product defects or service disruptions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Technological advancements in the industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Concerns related to actual or perceived security or privacy risks in our products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Economic conditions in Hong Kong, mainland China, and globally, affecting consumer discretionary spending and demand for our products and services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The effectiveness of our marketing and sales strategies; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Market acceptance of our STEM Education solutions.

We cannot be sure that we will be successful in addressing these and other risks and challenges we may face in the future. Any of these occurrences could have a material and adverse impact on our business, results of operations and financial condition. Our customer base may not continue to grow or may decline as a result of such risks. As a result of the foregoing factors, it is difficult for us to forecast our future revenue or revenue growth. If our assumptions are incorrect or change in reaction to changes in our market, or if we are unable to maintain consistent revenue or revenue growth, the price of our Ordinary Shares could be volatile, and it may be difficult to achieve and maintain profitability. You should not rely on our revenue for any prior periods as an indication of our future revenue or revenue growth.

#### Customer dissatisfaction and non-renewal of service agreements could adversely affect our business and financial performance.
Our business success relies significantly on the strong relationships we build with our customers, allowing us to understand and fulfill their unique needs with customized solutions. If our customers are dissatisfied with the quality of our products or services, we may incur additional costs to rectify issues, negatively impacting the profitability of those sales. Additionally, customer dissatisfaction could damage our reputation, reduce repeat business, and hinder our ability to attract potential customers.

For our ongoing customer support and after-sale consulting services related to our drones and robots, we offer maintenance plans and software updates typically structured as 12-month agreements with renewal options. However, our customers are not obligated to renew these agreements and may terminate them on short notice. If a significant portion of customers choose not to renew or scale back their service agreements, our revenue could decline. A substantial reduction in customer demand for our drones and robots could also require us to invest heavily in sales and marketing to maintain our revenue stream, potentially harming our financial performance.

Furthermore, there is no guarantee that customers who have previously purchased our products will continue to do so, nor can we ensure that we will consistently secure new contracts or orders. Any failure to retain existing customers or acquire new ones could have a material adverse effect on our business, results of operations, and financial condition.

#### Restrictions on the export of consumer electronics from mainland China to Hong Kong could materially and adversely affect our business and financial condition.
We procure consumer-grade electronic products, including robots, drones, and 3D printers, primarily for sales and delivery to our customers. These products fall under the category of educational equipment and, under current regulations, are not subject to any special licensing or export control requirements in either PRC or Hong Kong. As of the date of this prospectus, neither manufacturers nor traders (whether buyers or sellers) are required to obtain additional permits for the export or import of such products. However, if the PRC government were to impose restrictions or an outright ban on the export of these consumer-grade electronics to Hong Kong, our ability to source products from our PRC suppliers would be significantly impacted. In such scenarios, we may shift our procurement to alternative suppliers in the United States or Switzerland. However, such a transition would materially increase our procurement costs, extend our supply chain timelines, and negatively impact our cash flow efficiency. The increased costs and operational delays could significantly erode our profit margins and result in operational losses. Given the

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unpredictability of regulatory changes, we cannot guarantee that our supply chain will remain unaffected in the future. Any such export restrictions or regulatory developments could materially and adversely affect our business, financial condition, and results of operations.

#### If we are unable to attract new customers in a cost-effective manner, then our business, results of operations and financial condition will be adversely affected.
We may be unable to attract new customers in a cost-effective manner. Although we mainly rely on word-of-mouth referrals, we also utilize various marketing channels to promote our products, software, and platform, including social media as well as search engine marketing and optimization. We periodically adjust the mix of our other marketing initiatives, such as customer events and public relations initiatives. If the cost of the marketing channels we use increases dramatically, then we may choose to use alternative and less expensive channels, which may not be as effective as the channels we currently use. As we continue to grow, we may also need to expand into more expensive channels than those we are currently in, which could adversely affect our business, results of operations, and financial condition. We incur marketing expenses before we can recognize any revenue that the related marketing initiatives may generate, and these expenses may not result in increased revenue or brand awareness. We have made in the past and may make in the future, significant expenditures, and investments in new marketing campaigns, and we cannot guarantee that any such investments will lead to the cost-effective acquisition of new customers. If we are unable to maintain effective marketing initiatives, our ability to attract new customers could be materially and adversely affected, our advertising and marketing expenses could increase significantly, and our results of operations may suffer.

***Failure to effectively develop and expand our marketing and sales capabilities could harm our ability to increase our customer base and achieve broader market acceptance of our platform. If our sales and marketing strategies are not successful, our ability to attract new customers may be impaired.***

Our ability to increase our customer base and achieve broader market acceptance of our products and services will depend on our ability to expand our marketing and sales capabilities. We plan to expand our marketing and sales operations, both domestically and internationally. We may not achieve anticipated growth from expanding our sales force and marketing efforts if we are unable to hire, develop, and retain competent sales and marketing personnel or if our new sales and marketing campaigns are unable to achieve desired levels of effectiveness in a reasonable period of time. Our business and operating results may be adversely affected if our sales and marketing efforts do not generate a corresponding increase in revenue.

We plan to dedicate resources to sales and marketing programs, including targeted advertising for our innovative training programs and high-quality educational products, focusing on both B2B and B2C models. Our region- and school-based marketing approach aims to promote our brand and products more effectively in Hong Kong and internationally. As we strive to enhance our brand recognition and awareness, the effectiveness of our marketing efforts may vary due to factors such as competition for targeted audiences, changes in digital advertising platforms, and shifts in user behavior. If the costs associated with promoting our products through digital platforms increase, our business and operating results could be adversely affected. Additionally, competitors may also target similar customer groups, potentially increasing our marketing expenses and affecting our ability to attract and retain customers.

***Our customer base and brand recognition in Hong Kong rely in part on our commercial relationships with iFlight and High Great. Any disruption in these relationships could adversely affect our business, financial condition, and results of operations.***

A portion of our customer base and brand recognition in Hong Kong is associated with our offering of DJI drones and our exclusive distribution of HuLa drones developed by Shenzhen High Great Innovation Technology Co., Ltd. ("High Great"). We procure DJI drones through iFlight, which, to our understanding, is a wholly owned subsidiary of DJI. Our relationship with iFlight enables us to attract customers interested in drone technology, as we are, to our knowledge, the primary authorized distributor of DJI educational drones in Hong Kong. Our ability to continue offering DJI drones depends on maintaining a stable commercial arrangement with iFlight. If this relationship is disrupted or terminated, we may lose access to DJI products, which could diminish the appeal of our offerings to existing and prospective customers interested in drone-based learning. If our commercial relationships were to end, other competitors may gain similar authorization, potentially diverting customers away from our offerings.

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Additionally, we were the exclusive regional distributor in Hong Kong for HuLa products from January 1, 2024 to December 31, 2024, and are currently the exclusive authorized distributor of HG-F09 (HuLa) products from January 1, 2025 to December 31, 2025. This relationship allows us to differentiate our offerings and benefit from High Great's expertise in drone and intelligent hardware manufacturing. Any disruption or termination of this exclusive partnership could impact the quality or availability of our hardware offerings, potentially resulting in customer dissatisfaction, increased marketing costs, and reduced competitiveness.

In seeking to maintain or expand similar strategic relationships, we may incur additional costs, such as product procurement expenses or increased marketing expenditures to meet sales performance requirements or to support third-party branding. If we are unable to recover these costs through increased sales or customer acquisition, our profitability may be adversely impacted. Moreover, if our competitors secure similar or more favorable arrangements with drone or hardware providers, our market share and customer retention could be affected.

***We collaborate with High Great, as the exclusive authorized distributor, to distribute educational drones under the HuLa brand in Hong Kong. If we fail to maintain or enhance the brand recognition of HuLa, our ability to attract customers and expand our market presence may be negatively impacted, which could adversely affect our financial condition.***

We collaborate with High Great to distribute educational drones under the "HuLa" brand. We were the exclusive regional distributor in Hong Kong for HuLa products from January 1, 2024 to December 31, 2024, and are currently the exclusive authorized distributor of HG-F09 (HuLa) products from January 1, 2025 to December 31, 2025. If we fail to maintain or enhance brand recognition for HuLa, it could hinder our ability to attract new customers and retain existing ones, potentially impacting our financial performance. As we target other geographic markets with "HuLa" educational drones, sustaining the brand's visibility amidst growing competition is critical. Success in maintaining HuLa's brand recognition depends on effective marketing by our partners, product reliability, and differentiation from competing educational drones.

Customer satisfaction and experience also play a significant role in shaping the brand's reputation. Efforts to promote and strengthen the HuLa brand involve substantial investment, both by us and our partners, and will continue to require resources. If these activities do not lead to sufficient customer awareness or sales growth, or if the costs outweigh the benefits, achieving a positive return on these investments may be challenging. Failure to effectively build, protect, and maintain the HuLa brand could impede our growth and adversely affect our business outcomes.

***If the market for the STEM educational programs and products in Hong Kong develops more slowly than we expect, our revenue may decline or fail to grow, potentially resulting in operating losses.***

The market for STEM educational programs and products in Hong Kong is less developed compared to traditional educational tools and methods, and it remains uncertain whether our training programs and related products will gain sustained demand and market acceptance. Our growth depends significantly on the willingness of educational institutions and schools to adopt innovative technologies like those used in our STEM educational training programs. Many of these institutions and schools may have already invested substantial resources in conventional educational approaches, making them hesitant to incorporate new technologies into their systems. Additionally, some institutions and schools may have concerns about the complexities, costs, and risks associated with adopting new solutions, such as compliance with evolving regulations or ensuring the safety of technology use in educational settings. If these organizations do not see the added value of integrating STEM-based learning solutions, the market for our products may fail to develop as anticipated or may grow more slowly than expected, potentially affecting our financial performance.

***Our industry is highly competitive, and we may be unable to compete effectively. We may lack sufficient financial or other resources to maintain or improve our competitive position, which may harm our ability to add new customers, retain existing customers and grow our business.***

The STEM education industry in Hong Kong and beyond is evolving rapidly and is highly competitive, characterized by constant technological advancements, shifting customer needs, evolving educational standards, and the frequent introduction of new programs and products. We face competition from other education providers, ranging from large global educational companies to local firms, as well as from institutions offering in-house training solutions. With new entrants continually emerging in the STEM education market and existing companies introducing new programs, competition is likely to intensify, which could impact our ability to maintain or expand our customer base and sustain pricing.

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We specifically face competition from companies offering similar STEM training programs and products, as well as traditional educational tools that are well-established in the market. Some of our competitors may offer their programs at lower prices, making it challenging to maintain our pricing structure without potentially reducing our margins. Additionally, price pressures could require us to offer discounts or alter our pricing model, which could adversely affect our revenue and profitability.

Many of our existing and potential competitors benefit from significant advantages, such as greater brand recognition, longer operating histories, and larger resources for marketing, customer support, and program development. Competitors with extensive product portfolios may also offer a broader range of educational tools and programs, making them more attractive to schools and institutions. Moreover, the rapid pace of technological change, strategic partnerships among competitors, and market consolidation could further increase competition. Larger companies may invest heavily in research and development, resulting in innovative programs that directly compete with ours. Additionally, mergers, acquisitions, or strategic alliances among our competitors could strengthen their market position, leading to increased pricing pressures, reduced market share for us, and potentially limiting our growth opportunities.

***If we fail to improve, upgrade, enhance, or innovate our educational products and programs, our ability to meet evolving customer needs and preferences may be compromised, potentially harming our business.***

The market for STEM educational programs and products in Hong Kong is characterized by rapid technological changes, evolving educational standards, and shifting customer expectations. To remain competitive, we must continuously adapt our offerings and ensure that our programs and products keep pace with industry trends and new technologies. Our success depends on our ability to identify and anticipate the evolving needs of our customers — particularly schools and training institutions — and to design solutions that align with those needs.

Our ability to attract new customers, retain existing ones, and drive growth relies heavily on our capacity to continually enhance the functionality, performance, and appeal of our educational products, as well as to develop new programs that resonate with customer preferences. However, predicting customer preferences can be challenging, and there is a risk that upgrades to existing products or new program introductions may not be well-received. If we fail to respond effectively to changing technology and customer demands, the demand for our products could diminish, negatively impacting our revenue and growth prospects.

Additionally, investment in developing new educational programs and technology often involves a long return on investment cycle. We have made, and will continue to make, significant investments in program development and product innovation, dedicating considerable resources before knowing whether these efforts will be commercially successful. Delays in customer purchasing decisions, particularly during periods when new products are being evaluated, could further impact our financial performance.

Our educational solutions must also integrate with a variety of third-party technologies, including learning management systems, software platforms, and hardware. As these technologies evolve, we must continually adapt our products to ensure compatibility and performance. Any changes to these third-party platforms that degrade our product functionality or require costly adjustments could negatively impact the adoption and effectiveness of our offerings. If we are unable to adapt to these changes in a timely and cost-effective manner, our products may become less competitive or even obsolete, which could harm our business and financial results.

#### Defects or disruptions in our educational products, services, and platforms could diminish demand and expose us to significant liability.
Our customers, including educational institutions and schools in Hong Kong, may rely on our products and services as a core part of their teaching and training activities. Any errors, defects, or disruptions in our educational products, services, or platforms could negatively impact their operations, potentially harming our reputation and brand. Real or perceived issues such as product defects, security vulnerabilities, service interruptions, or errors in our educational programs could result in financial losses for our customers, lead to decreased market acceptance, and adversely affect our sales.

Prolonged or frequent interruptions in the availability or functionality of our products and services could cause customers to view our offerings as unreliable, which could materially harm our reputation and business. Customers may delay or withhold payment, make claims for damages, or choose to terminate their contracts with us, particularly

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if their operations are impacted by such issues. Additionally, negative feedback from a customer regarding defects or disruptions, especially if shared on social media or other public forums, could further damage our reputation and hinder our ability to attract new customers.

While we include provisions in our customer agreements that aim to limit our liability, there is no guarantee that these will be enforceable or sufficient to protect us from all potential claims, and our insurance coverage may not fully compensate us for any losses. Even unfounded claims could result in costly legal defenses and damage to our brand, making it more challenging to retain or acquire customers.

From time to time, we have identified defects or errors in our products and may discover more in the future, potentially leading to issues like data loss, unauthorized access, or other disruptions for our customers. We strive to address such defects through regular maintenance and updates; however, these efforts may not always resolve all issues, and customers may become dissatisfied with the frequency or duration of service disruptions. If customers choose to cancel contracts, delay payments, or demand refunds or credits due to these issues, our financial results could be adversely affected. Additionally, the costs associated with fixing these defects could be significant, impacting our operational results. Such events could also require us to allocate additional resources to resolve issues, further straining our financial position. Ultimately, any significant disruption or defect could damage our reputation, reduce demand for our educational products and services, and harm our overall business and financial performance.

***Our business depends on our ability to maintain and scale our hardware and software offerings, as well as our technical infrastructure. Any significant disruption in the performance of our products could harm our reputation, result in potential loss of customers, and adversely impact our business, operating results, and financial condition.***

Our reputation and ability to attract, retain, and serve our customers depend heavily on the reliable performance of our educational products and underlying technical infrastructure. This includes both hardware, such as educational drones, AI robotics kits, 3D printing kits, and software used in our training programs. We have experienced, and may in the future experience, interruptions in the performance of our products, whether related to hardware functionality or software support. Our systems and infrastructure may not always be designed with the redundancy and reliability needed to avoid performance delays or disruptions that could negatively affect our business.

If such disruptions occur, customers may be hesitant to purchase additional products or services from us, limiting our ability to expand our customer base or upsell new solutions. As our product offerings grow and evolve, and as we face increasing demand for our STEM education solutions, we will require greater technical infrastructure, including additional network capacity and computing power. If we fail to scale our infrastructure effectively to meet these demands, customer retention and revenue growth could suffer. Expanding our offerings with new hardware and software features could place strain on our infrastructure, and we may be unable to adapt our systems cost-effectively to accommodate these changes.

Moreover, our business may be vulnerable to interruptions, delays, or failures caused by natural disasters, cyber-attacks, geopolitical events, or other catastrophic incidents. Such events could result in service disruptions or outages for our customers, and we may struggle to restore our technical infrastructure and recover customer data in a timely manner. If a major disruption were to impact our operations, it could severely affect our ability to deliver services, thereby harming our financial results. Additionally, while our operations are primarily based in Hong Kong, any significant local or regional event could impact our capacity to continue normal operations.

***Our products and services rely on the stable performance of servers, networks, IT infrastructure, and data processing systems, and any disruption to such infrastructure due to internal or external factors could diminish demand for our offerings, harm our business and reputation, and adversely impact our financial results.***

We depend significantly on the reliable performance of our servers, networks, IT infrastructure, and data processing systems to deliver our STEM educational training programs and products effectively. Disruptions to these systems can arise from various internal or external factors, such as inadequate maintenance, hardware failures, cyber-attacks, malicious hacks, human errors, or catastrophic events. Such disruptions could result in negative publicity, delays in market acceptance of our programs, a weakened competitive position, decreased customer retention, or claims from customers for losses they may incur. Additionally, disruptions may lead to the loss, destruction, or unauthorized access to data, including personal information, potentially exposing us to liability under relevant data protection laws.

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In the event of such incidents, we may need to allocate additional resources to manage the disruption, mitigate related liabilities, notify regulatory bodies and affected individuals, replace compromised systems or assets, address legal claims, and compensate affected customers. Furthermore, we may not have sufficient insurance coverage to compensate for losses arising from these disruptions. As a result, our reputation could suffer, and our business, financial condition, and operating results could be significantly affected.

***We may incur significant expenses in technology and content development to launch new products, programs, and develop new platforms, we may not generate sufficient revenue from new offerings to offset our costs.***

We invest considerable resources in developing new educational products and programs, including costs related to technology, content creation, and customer acquisition, as well as new online learning platforms. These investments are necessary to attract new customers and remain competitive in the evolving STEM education market in Hong Kong. However, there is a risk that we may not recover these costs through revenue generated from new offerings. Additionally, delays in launching new programs or products could negatively impact our expected revenue and overall financial performance.

The time required to recover our investment in new offerings depends on factors such as customer acquisition costs, customer retention rates, and the level of market acceptance for our products. Due to the long lead time needed to recoup these investments, unforeseen events beyond our control may arise, leading to customers discontinuing or reducing their use of our programs before we can generate significant revenue. Moreover, our collaborations with third-party partners may not always be exclusive or long-term. As a result, these partners might offer similar products, contents, and services to our competitors, limiting the appeal of our products. If a third-party partner terminates our partnership with them, customers using their branded products, or the services and contents provided by them through our learning platforms may choose to leave, which could further reduce our customer base and adoption rates. These factors could prevent us from fully recovering our investments in new offerings and achieving profitability, ultimately impacting our business and operating results.

***Our business may be subject to a variety of laws, regulations, and other obligations regarding data protection in Hong Kong data protection, privacy, and information security laws, regulations, rules, standards, policies, and contractual and other legal obligations, and our customers may also be subject to such laws, regulations and obligatory regulations. Any actual or perceived failure of our products to comply with or enable our customers to comply with such applicable laws and regulations would harm our business, results of operations, and financial condition.***

The privacy and security of personally identifiable, personal, sensitive, regulated, or confidential information is a major focus in our industry, and we and our customers that use our products are subject to Hong Kong and possibly foreign privacy and data protection-related laws and regulations that impose obligations in connection with the collection, storage, use, processing, disclosure, protection, transmission, retention and disposal of confidential or sensitive information, including personal data. Laws and regulations governing data privacy, data protection, and information security are constantly evolving, and there has been an increasing focus on privacy and data protection issues with the potential to affect our business. The nature of our business exposes us to risks related to compliance with data protection and information security laws and regulations. Any perceived or actual failure to comply with any of these laws and regulations could result in litigation, enforcement actions, damages, fines and penalties and could harm our reputation and impair our ability to attract and retain our customers, any of which could have a material adverse effect on our business, financial condition, results of operations or prospects.

For example, we may be subject to a variety of laws and other obligations regarding data protection in Hong Kong. The Personal Data (Privacy) Ordinance (Chapter 486 of the Laws of Hong Kong) (the "PDPO") came into force on 20 December 1996. The PDPO states that any person who controls the collection, holding, processing, or use of personal data (the "data user") shall not do any act, or engage in a practice, that contravenes any of the data protection principles set out in Schedule 1 to the PDPO (the "Data Protection Principles") unless the act or practice, as the case may be, is required or permitted under the PDPO. Personal data means any data (a) relating directly or indirectly to a living individual; (b) from which it is practicable for the identity of the individual to be directly or indirectly ascertained; and (c) in a form in which access to or processing of the data is practicable. The Data Protection Principles set out that (1) personal data must be collected in a lawful and fair way for a purpose directly related to a function or activity of the data user. Data subjects must be notified of the purpose for which the data is to be used and the classes of persons to whom the data may be transferred. Data collected should be adequate but not excessive; (2) personal data must be

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accurate and should not be kept for a period longer than necessary for the fulfillment of the purpose for which the data is or is to be used; (3) personal data must be used for the purpose for which the data is collected or for a directly related purpose unless voluntary and explicit consent with a new purpose is obtained from the data subject; (4) a data user shall take practicable steps to safeguard any personal data held against unauthorized or accidental access, processing, erasure, loss or use; (5) a data user shall take practicable steps to ensure that its policies and practices in relation to personal data, the kind of personal data it holds and the main purposes for which the personal data is or is to be used for are made known to the public; and (6) a data shall be entitled to request access to personal data and must be allowed to correct the personal data if it is inaccurate. Moreover, the Personal Data (Privacy) (Amendment) Ordinance 2021 (the "PDPAO") came into effect on 8 October 2021. It amends the PDPO, particularly to: (i) criminalize doxing, i.e. unconsented disclosure of personal information of targeted individuals and groups; (ii) introduce a cessation notice regime to tackle doxing with extra-territorial reach; and (iii) substantially expand the investigation and enforcement powers of the Privacy Commissioner for Personal Data, in contexts beyond doxing.

Advised by our Hong Kong counsel, Bird & Bird, we are of the view that we are not likely to be in breach of the PDPO and the PDPAO for the following reasons: (i) all of our customers are institutional users who are using our products and services without the need of providing the personal information of individuals, and (ii) we possess minimum amount, if not none of the personal information in our business operations. Nonetheless, we are subject to laws and regulations relating to the collection, storage, use, processing, transmission, retention, security and transfer of personal information and other data. While we strive to comply with all applicable privacy, data protection and information security laws and regulations, as well as our contractual obligations, posted privacy policies and applicable industry standards, such laws, regulations, obligations and standards continue to evolve and are becoming increasingly complex, and sometimes conflict among the various jurisdictions and countries in which we operate, which makes compliance challenging and expensive. The interpretation and application of laws, regulations and standards on data protection and privacy are still uncertain and evolving. We cannot assure you that the governmental authorities will not interpret or implement the laws or regulations in ways that negatively affect us. We may be subject to investigations and inspections by government authorities regarding our compliance with laws and regulations on data privacy, and we cannot assure you that our practices will always fully comply with all applicable rules and regulatory requirements. We also may be bound by contractual obligations relating to our collection, use, processing and disclosure of personal, financial and other data or may find it necessary or desirable to join industry or other self-regulatory bodies or other privacy or data protection-related organizations that require compliance with their rules pertaining to privacy and data protection.

Moreover, existing Hong Kong and foreign privacy and data protection-related laws and regulations are evolving and subject to potentially differing interpretations, and various legislative and regulatory bodies may expand current or enact new laws and regulations regarding privacy and data protection-related matters. Additionally, our customers may be subject to differing privacy laws, rules and legislation, which may mean that they require us to be bound by varying contractual requirements applied to certain other jurisdictions. As we expand our services and customer base internationally beyond Hong Kong in the future, because global laws, regulations and industry standards concerning privacy and data security have continued to develop and evolve rapidly, it is possible that we or our products, software or platform may not be, or may not have been, compliant with each such applicable law, regulation and industry standard and compliance with such new laws or to changes to existing laws may impact our business and practices, require us to expend significant resources to adapt to these changes, or to stop offering our products in certain countries. These developments could adversely affect our business, results of operations and financial condition.

Any failure or perceived failure by us, or any third parties with whom we do business, to comply with laws, regulations, policies, industry standards or contractual or other legal obligations relating to privacy, data protection or information security may result in governmental investigations, inquiries, enforcement actions and prosecutions, private litigation, fines and penalties, adverse publicity or potential loss of business. The negative publicity of us or our industry regarding actual or perceived violations of our end users' privacy-related rights, including fines and enforcement actions against us or other similarly placed businesses, also may impair users' trust in our privacy practices and make them reluctant to give their consent to share their data with us. Any inability to adequately address data privacy or security-related concerns, complaints, inquiries or allegations when they arise, even if unfounded, or to comply with applicable laws, regulations, standards and other obligations relating to data privacy and security, could result in additional cost and liability to us, harm our reputation and brand, damage our relationships with consumers and have a material and adverse impact on our business, financial condition and results of operations. In addition, due to data

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privacy or data security concerns, our ability to retain or increase our user base and user engagement may be materially and adversely affected, we may not be able to maintain or grow our revenue as anticipated and our financial results could be materially and adversely affected.

Future restrictions on the collection, use, processing, storage, sharing or disclosure of sensitive or personal information could require us to incur additional costs or modify our platform and could limit our ability to develop new functionality. While we strive to comply with our internal data privacy guidelines as well as all applicable data privacy and security laws and regulations and contractual obligations in respect of personal information, there is no assurance that we are able to comply with these laws, regulations and contractual obligations in all respects. Complying with these requirements and changing our policies and practices may be onerous and costly, and we may not be able to respond quickly or effectively to regulatory, legislative or other developments. Any failure or perceived failure by us, external service providers or business partners to comply may result in proceedings or actions against us, including fines and penalties or enforcement orders (including orders to cease processing activities) being levied on us by government agencies or proceedings or actions against us by our business partners, customers or end-users, including class action privacy litigation in certain jurisdictions, and could damage our reputation and discourage current and future users from using our products and services, which could materially and adversely affect our business, financial condition and results of operations. In addition, compliance with applicable laws on data privacy requires substantial expenditure and resources, including to continually evaluating our policies and processes and adapting to new requirements that are or become applicable to us on a jurisdiction-by-jurisdiction basis, which would impose significant burdens and costs on our operations or may require us to alter our business practices. Concerns about the security of personal information also could lead to a decline in general Internet usage, which could result in a decrease in demand for our products and services and have a material and adverse effect on our business, financial condition and results of operations. Furthermore, if the local government authorities in our target markets require real-name registration for users of our platform, the growth of our customer and end-user bases may slow down, and our business, financial condition, and results of operations may be adversely affected.

***Evolving global laws, regulations and standards, including data privacy regulations and data localization requirements, may limit the use and adoption of our services globally, expose us to liability, or otherwise adversely affect our business and international growth.***

Various governmental bodies or agencies have in the past adopted, and may in the future adopt, laws and regulations affecting the use of the Internet as a commercial medium. These laws and regulations could impact taxation, internet neutrality, tariffs, content, copyright protection, distribution, electronic contracts and other communications, consumer protection and data privacy, and the characteristics and quality of services we offer. Legislators and regulators may make legal and regulatory changes or apply existing laws in ways that require us to incur substantial costs, expose us to unanticipated civil or criminal liability, or cause us to change our business practices. Because the interpretation and application of laws, regulations, standards and other obligations relating to data privacy and security are still uncertain, it is possible that these laws, regulations, standards and other obligations may be interpreted and applied in a manner that is inconsistent with our data processing practices and policies or the features of our products and services. If so, in addition to the possibility of fines, lawsuits, complaints, inquiries, allegations, regulatory investigations, public censure, other claims and penalties, and significant costs for remediation and damage to our reputation, we could be materially and adversely affected if legislation or regulations are expanded to require changes in our data processing practices and policies or if governing jurisdictions interpret or implement their legislation or regulations in ways that negatively impact our business, financial condition and results of operations. Furthermore, the developing requirements relating to clear and prominent privacy notices (including in the context of obtaining informed and specific consent to the collection and processing of personal information, where applicable) may potentially deter end users from consenting to certain uses of their personal information.

As we expand internationally from Hong Kong into new industries and regions, we will likely need to comply with new requirements to compete effectively. The uncertainty and changes in the requirements of multiple jurisdictions may increase the cost of compliance, delay or reduce demand for our services, restrict our ability to offer services in certain locations, impact our customers' ability to deploy our solutions in certain jurisdictions or subject us to sanctions regulators, all of which could harm our business, financial condition and results of operations. Additionally, although we endeavor to have our products and platform comply with applicable laws and regulations, these and other obligations may be modified, they may be interpreted and applied in an inconsistent manner from one jurisdiction to another, and they may conflict with one another, other regulatory requirements, contractual commitments, or our internal practices.

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#### Our future international expansion may render us susceptible to risks associated with international sales and the use of our platform in various countries.
We currently have most of our customers and operations in Hong Kong. Part of our growth strategy is to further expand our operations and customer base internationally. We plan to adapt and develop strategies to break into new geographic markets, but such efforts may not be successful. Our international expansion and development in new jurisdictions may expose us to risk related to staffing and managing cross-border operations, reduced brand awareness in new markets and lack of acceptance of our products and services, competition with established local competitors and increased costs and difficulty protecting intellectual property and sensitive data, political risks, tariffs and other trade barriers, differing and potentially adverse tax consequences, increased and conflicting regulatory compliance requirements (including with respect to privacy, security and labor), challenges caused by distance, language and cultural differences, exchange rate risk and political instability. Accordingly, our efforts to develop and expand the geographic coverage of our operations may not be successful, which could limit our ability to expand our operation, market shares, and/or business. Furthermore, our sales and the use of our platform in various countries subject us to risks that include, but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the difficulty of managing and staffing international operations and the increased operations, travel, infrastructure and legal compliance costs associated with servicing international customers and operating numerous international locations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulties in managing systems integrators and technology partners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• differing technology standards and development status;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to effectively price our products in competitive international markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• new and different sources of competition or other changes to our current competitive landscape;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• understanding and reconciling different technical standards, data privacy and telecommunications regulations, registration and certification requirements outside of Hong Kong, which could prevent customers from deploying our products or limit their usage;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to comply with laws, regulations and industry standards relating to data privacy, data localization and security enacted in countries and other regions in which we operate or do business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• potentially greater difficulty collecting trade receivable and longer payment cycles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• higher or more variable network service provider fees outside of Hong Kong;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the need to adapt and localize our products, services, and platforms for specific countries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the need to offer customer support in various languages;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• lack of familiarity and burdens and complexity involved with complying with multiple, conflicting and changing foreign laws, standards, regulatory requirements, tariffs, export controls and other barriers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• greater difficulty in enforcing contracts, including our universal terms of service and other agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• differing labor law and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reduced or uncertain protection for intellectual property rights in certain countries, or more limited protection for intellectual property rights in some countries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in international trade policies, tariffs and other non-tariff barriers, such as quotas and local content rules;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• compliance with (1) tax regulations in the countries in which we will operate, including the complexities of foreign value-added tax (or other tax) systems and restrictions on the repatriation of earnings, which may lead to unintended abusive planning, penalties and reputational risk, or being deemed a permanent establishment and (2) payment obligations of tax on digital services in jurisdictions where we do not have a legal presence;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• currency exchange rate fluctuations and the resulting effect on our revenue and expenses, and the cost and risk of entering into hedging transactions if we chose to do so in the future;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• restrictions on the transfer of funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• deterioration of political relations between the PRC and other countries; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• political or social unrest or economic instability in a specific country or region in which we operate, which could have an adverse impact on our operations in that location.

These factors may cause our international costs of doing business to exceed our comparable domestic costs and may also require significant management attention and financial resources. Our future expansion efforts that we undertake may not be successful. Our failure to manage any of these risks successfully could harm our international operations, and adversely affect our business, results of operations and financial condition. If we invest substantial time and resources to expand our international operations and are unable to do so successfully, our business and operating results will suffer.

#### If we fail to offer high-quality customer support, our business and reputation could suffer.
Our customers depend on our customer support team to assist them in deploying our products and services effectively, help them resolve post-deployment issues quickly and provide ongoing support. High-quality support is important for the renewal and expansion of our agreements with existing customers. The importance of high-quality customer support will increase as we expand our business and pursue new customers. If we do not help our customers quickly resolve issues and provide effective ongoing support, our ability to renew our service with the existing customers and to gain new customers could suffer and our reputation with existing or potential customers could be harmed.

As we grow our customer base, we will need to further invest in and expand our customer support teams, which could strain our resources and reduce profit margins. If we do not devote sufficient resources or otherwise do not help our customers adopt our products and services, quickly resolve any post-implementation matters, and provide effective ongoing support and training, our ability to expand sales to existing and future developers and customers and our reputation would be adversely affected. Our support teams may also face additional challenges associated with our contemplated international expansion operations, including those associated with delivering support and documentation in multiple languages. Increased demand for the developer and customer support, without corresponding revenue, could increase costs and adversely affect our business, operating results and financial condition. Any failure to maintain high-quality developer and customer support, or a market perception that we do not maintain high-quality developer and customer support, could adversely affect our reputation, business, operating results and financial condition.

***We are exposed to the concentration risk of reliance on our largest supplier, and any shortage of, or delay in, the supply may significantly impact on our business and results of operation.***

We purchase drones and drone parts and accessories as well as robotics products from our suppliers. For the six months ended December 31, 2024, we purchased from iFlight, Shenzhen High Great Innovation Technology Development Co., Ltd., and X-Mind (Shenzhen) Technology Co., Ltd, which represented 15.67%, 21.09% and 11.54% of our total cost of revenues, respectively. For the six months ended December 31, 2023, we purchased from iFlight and X-Mind (Shenzhen) Technology Co., Ltd, which represented 58.26% and 4.42% of our total cost of revenues, respectively.

For the year ended June 30, 2024, we purchased from iFlight, Shenzhen High Great Innovation Technology Development Co., Ltd., and Next Education Limited, which represented 43.98%, 12.71%, and 7.88% of our total cost of revenues, respectively. For the fiscal year ended June 30, 2023, we purchased from iFlight, Next Education Limited, and Feiyang Meta Technology Limited, which represented 38.15%, 19.18%, and 17.92% of our total cost of revenues, respectively. Notably, one of our major suppliers during FY2024 and FY2023, Next Education Limited, was a related party. For more details, please see "Related Party Transactions" on page 112 of this prospectus.

We believe we have a solid relationship with our suppliers. We do not expect the prices of the drone and robotics products to vary greatly over time. Nonetheless, our business, financial condition and operating results depend on the continuous supply of products from our major suppliers and our continuous supplier-customer relationship. Therefore, our heavy reliance on our largest supplier for the supply of our products will have a significant impact on our business and results of operation in the event of any shortage of, or delay in the supply. For more details, see "Business — Our Suppliers" on page 94 of this prospectus and "Note 2. Summary of Significant Accounting Policies — Concentration of Risk" of our consolidated financial statements on page F-13.

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***We have not entered into long-term sales agreements with our customers and rely on demands from our major customers and our sales may fluctuate subject to our customers' demands.***

Our operating subsidiary, Ask Idea, does not enter into any long-term (more than one year) agreements with our customers, and their purchases are made on an order-by-order basis. Our business with our customers has been, and we expect it will continue to be, conducted based on the actual orders received from time to time. Accordingly, the number of purchase orders we receive from our customers may fluctuate from time to time, making it difficult for us to project future purchase orders. Our success depends on receiving continuous purchase orders from our customers. If, for any reason (including product quality or product price), our customers no longer place purchase orders with us at the same level or on similar terms which they have historically done so, or at all, in the future (for example, in the event of a decrease in customers' end products due to economic downturn), or purchasers remove us from their list of nominated suppliers to their manufacturers which can no longer purchase our products. If we are unable to obtain purchase orders in substitution or develop new customers, our business may be materially and adversely affected.

#### We face fierce competition from other players in the STEM education market in Hong Kong.
The market for STEM education in Hong Kong is highly fragmented and competitive, with numerous small to medium-sized providers offering similar educational products and services. While we maintain a competitive edge through our specialized offerings, we still face strong competition from both local and international players in the STEM education market. This competitive environment may require us to adjust our pricing strategies and profit margins to retain our market position. If we are unable to effectively differentiate our products and programs from those of our competitors, we may struggle to maintain our customer base and market share. In such a case, our business, financial condition, and operating results could be adversely affected.

#### If we are unable to hire, retain and motivate qualified personnel, our business will suffer.
Our success depends, in part, on our ability to continue to attract and retain highly skilled personnel. The inability to attract or retain qualified personnel or delays in hiring required personnel may seriously harm our business, financial condition and operating results. Our ability to continue to attract and retain highly skilled personnel, specifically employees with software development, and technical, information technology engineering skills and employees with high levels of experience in designing and developing software and internet-related services, will be critical to our future success. Competition for highly skilled personnel in Hong Kong (or for the countries in which we operate in the future) can be intense due in part to the more limited pool of qualified personnel, and we have experienced difficulties hiring employees from foreign jurisdictions. As our operations expand and experience growth, we will require additional employees to sustain the increased use of our platform and services. We may not be successful in attracting and retaining qualified personnel. We have, from time to time, experienced, and we expect to continue to experience, difficulty in hiring and retaining highly skilled employees with appropriate qualifications. If we fail to attract new personnel or fail to retain and motivate our current personnel, our business, and future growth prospects could be severely harmed.

***We are dependent on the continued services and performance of our senior management and other key employees, the loss of any of whom could adversely affect our business, operating results and financial condition.***

Our success depends substantially upon the continued services of our executive officers and other key members of management, particularly our Chief Executive Officer and other key employees, to execute our business plan and to identify and pursue new opportunities and product innovations. From time to time, there may be changes in our executive management team resulting from the hiring or departure of executives. Such changes in our executive management team may be disruptive to our business. The loss of one or more of our executive officers or key employees could have a serious adverse effect on our business, causing significant delays or preventing the achievement of our strategic objectives.

We do not have employment agreements with our executive officers or other key personnel that require them to continue to work for us for any specified period; therefore, they could terminate their employment with us at any time. In addition, some of the members of our current senior management team have only been working together for a short period of time, which could adversely impact our ability to achieve our goals. From time to time, there may be changes in our senior management team resulting from the hiring or departure of executives, which could disrupt our business. The loss of the services of one or more of our senior management or other key employees for any reason could adversely affect our business, financial condition and operating results and require significant amounts

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of time, training and resources to find suitable replacements and integrate them within our business and could affect our corporate culture. If we fail to attract new personnel or fail to retain and motivate our current personnel, it could adversely affect our business and future growth prospects.

***There are risks for which our insurance policies may not adequately cover or for which we have no insurance coverage. Insufficient insurance coverage or the materialization of such uninsured risks could adversely affect us.***

Our insurance policies may not adequately cover all risks to which we are exposed. We do not maintain any business interruption or key person life insurance. In addition, we cannot guarantee that we will be able to maintain our insurance policies in the future or that we will be able to renew them at reasonable prices or on acceptable terms, which may adversely affect our business and the trading price of our Ordinary Shares. Moreover, we are subject to risks for which we are uninsured, such as war, acts of God, including hurricanes, other force majeure events and breaches of the security of our systems by hackers. If certain damaging events occur and we are not adequately insured against them, they may, individually or together, adversely affect our results of operations and require us to commit significant cash resources to cover such losses. See "*Business — Insurance.*"

#### We may be subject to various legal proceedings which could adversely affect our business, financial condition or results of operations.
We may be involved in various legal proceedings, investigations and similar matters from time to time arising from tax, civil and labor claims, amongst others. Such matters can be time-consuming, divert management's attention and resources and cause us to incur significant expenses. Any insurance or indemnities that we may have may not cover all claims that may be asserted against us, and any claims asserted against us, regardless of merit or eventual outcome, may harm our reputation. If we are unsuccessful in our defense in these legal proceedings, we may be forced to pay damages or fines, enter into consent decrees or change our business practices, any of which could adversely affect our business, financial condition or results of operations. In addition, certain legal proceedings may result in negative publicity or affect our reputation. As of the date of this prospectus, we are not involved in any legal proceedings.

In addition, media coverage and public statements that insinuate improper actions by us or our subsidiaries, regardless of their factual accuracy or truthfulness, may result in negative publicity or legal proceedings. Addressing negative publicity and any resulting legal proceeding may distract management, increase costs and divert resources. Negative publicity may have an adverse impact on our reputation or the morale of our employees, which could adversely affect our business, financial condition and results of operations.

#### If we are unable to properly manage our growth, our results may be adversely affected.
We may fail to correctly estimate, qualitatively or quantitatively, the costs and risks associated with our expansion, and can offer no assurance that our systems, procedures, business processes and management controls are sufficient to support the expected rapid expansion of our operations, including expansion to new markets and verticals. We cannot assure you that our current and planned systems, procedures and controls, personnel and third-party relationships will be adequate to support our future operations. In addition, we have entered and may enter into new lines of business that may involve complexities associated with the new products, services and regulations, which could place a strain on our management and operational and financial resources in the future. If we fail to successfully manage growth, our results of operations may be adversely affected.

***We may experience difficulties in achieving our acquisition strategy, which could divert management's attention, result in operating difficulties and dilution to our shareholders and otherwise disrupt our operations and adversely affect our business, operating results or financial position.***

We may, from time to time, acquire businesses, products, services and technologies. Any transactions we enter into could be material to our financial condition and the results of operations. The success of an acquisition or investment will depend on our ability to make accurate assumptions regarding the valuation, operations, growth potential, integration and other factors related to that business. Our acquisitions or investments may not produce the results that we expect at the time we enter into, or complete a given transaction, or may create unforeseen operating difficulties and expenditures.

We may also experience difficulties integrating the personnel of the acquired company into our business and culture. Acquisitions may also disrupt our business, divert our resources and require significant management attention that would otherwise be available for the development of our existing business. Key personnel of the acquired companies

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may choose not to work for us, their software may not be easily adapted to work with ours, or we may have difficulty retaining the customers of any acquired business due to changes in ownership, management, or otherwise. The anticipated benefits of any acquisition, investment, or business relationship may not be realized or we may be exposed to unknown risks or liabilities, such as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• use of resources that are needed in other areas of our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the acquisition may not promote our business strategy as we expected, we may not be successful in integrating an acquired business or technology as successfully as expected, such integration may require spending more resources or we may not receive the expected return on our investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the difficulty incorporating acquired technologies or products with our existing product lines, as well as maintaining uniform standards, architecture, controls, procedures and policies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in the case of an acquisition, coordination of product, software engineering, and selling and marketing functions, including difficulties and additional expenses associated with supporting legacy services and products of the acquired company and difficulty converting the customers of the acquired company onto our platform and contract terms, including disparities in the revenues, licensing, support or professional services model of the acquired company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in the case of an acquisition, retention and integration of employees from the acquired company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• unforeseen costs or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adverse effects to our existing business relationships with partners and customers as a result of the acquisition or investment; we may have cost overruns resulting from the continued support and development of acquired products, from general and administrative functions that support new business models or from associated regulations that prove to be more complicated than originally expected;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the possibility of adverse tax consequences;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• litigation or other claims arising in connection with the acquired company or investment; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in the case of foreign acquisitions, the need to integrate operations across different cultures and languages and to address the particular economic, currency, political and regulatory risks associated with specific countries.

We may spend time and capital on acquisitions that do not increase our revenue. To the extent we pay the purchase price of any acquisition in cash, any such purchase would reduce our cash reserves, and to the extent the purchase price is paid with any of our shares, it could be dilutive to our shareholders. To the extent we pay the purchase price with proceeds from the incurrence of debt, any such purchase would increase our level of indebtedness and could negatively affect our liquidity, restrict our operations and materially adversely affect our results of operations. Our competitors may be willing or able to pay more than us for acquisitions, which may cause us to be unable to take advantage of certain acquisition opportunities.

The occurrence of any of these events could materially adversely affect our business, operational results, financial condition or cash flow, especially with respect to a large acquisition or several concurrent acquisitions.

We may not be able to identify acquisition or investment opportunities that meet our strategic objectives, or to the extent such opportunities are identified, we may not be able to negotiate terms with respect to the acquisition or investment that are acceptable to us. At this time, we have made no commitments or agreements with respect to any such transaction.

#### We may be unable to implement our future business plans and objectives successfully.
Our future business plans may be hindered by factors beyond our control, such as competition within the industry we operate; our ability to cope with high exposure to financial risk, operational risk, market risk, and credit risk as our business and customer base expands; and our ability to provide, maintain, and improve the level of human and other resources in servicing our customers. As such, we cannot assure that our future business plans will materialize, that

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our objectives will be accomplished fully or partially, or that our business strategies will generate the intended benefits to us as initially contemplated. If we fail to implement our business development strategies successfully, our business performance could be materially and adversely affected.

We may, in the future, pursue acquisitions and joint ventures as part of our growth strategy. Any future acquisition or joint venture may result in exposure to potential liabilities of the acquired companies and significant transaction costs, and it may also present new risks associated with entering additional markets or offering new products or services and integrating the acquired companies or newly established joint ventures. Moreover, we may not have sufficient management, financial, and other resources to integrate companies we acquire or to successfully operate joint ventures, and we may be unable to profitably operate our expanded company structure. Additionally, any new business that we may acquire or joint ventures we may form, once integrated with our existing operations, may not produce the expected or intended results.

***We may require additional financing to support our future capital requirements. Our ability to timely raise capital in the future may be limited, or may be unavailable on acceptable terms, if at all. Our failure to raise capital when needed could harm our business, operating results and financial condition. Debt or equity issued to raise additional capital may reduce the value of our Ordinary Shares.***

We have funded our operations since inception primarily through equity and debt financings and payments by our customers for the use of our platform and related services. We cannot be certain when or if our operations will generate sufficient cash to fund our ongoing operations or the growth of our business.

We intend to continue to make investments to support our business and may require additional funds. In particular, we may seek additional funds to develop new products and enhance our platform and existing products, expand our operations, including our sales and marketing organizations and our presence outside of Hong Kong, improve our infrastructure or acquire complementary businesses, technologies, services, products and other assets. Accordingly, we may need to engage in equity or debt financings to secure additional funds. Additional financing may not be available on favorable terms, if at all. If adequate funds are not available on acceptable terms, we may be unable to invest in future growth opportunities, which could harm our business, operating results and financial condition. If we incur additional debt, the debt holders could have rights senior to holders of Ordinary Shares to make claims on our assets. If we raise additional funds through future issuances of equity or convertible debt securities, our shareholders may experience dilution, and the new equity securities could have rights senior to those of our Ordinary Shares. Because our decision to issue securities in the future offering will depend on numerous considerations, including factors beyond our control, we cannot predict or estimate the amount, timing or nature of any future issuances of debt or equity securities. As a result, our shareholders bear the risk of future issuances of debt or equity securities reducing the value of our Ordinary Shares and diluting their interest.

***We could incur substantial costs in maintaining, enforcing, protecting or defending our intellectual property and proprietary rights. Failure to adequately obtain, maintain, enforce and protect our intellectual property and proprietary rights could impair our competitive position and cause us to lose valuable assets, experience reduced revenue and incur costly litigation.***

Our success depends, in part, on our ability to protect our brand, trade secrets, trademarks, patents, domain names, copyrights and proprietary methods and technologies, whether registered or not, that we develop under patent and other intellectual property laws of Hong Kong and other jurisdictions, so that we can prevent others from using our inventions and proprietary information. We rely on a combination of trade secrets, trademarks, copyrights, patents laws, contractual provisions with our employees, consultants, suppliers, third-party contractors and third parties with whom we have relationships, trademarks, service marks and copyrights in an effort to establish and protect our intellectual property and proprietary rights. However, the steps we take to protect our intellectual property and intellectual property laws may be inadequate, breached, may offer only limited protection, and may not adequately permit us to gain or keep any competitive advantage. Third parties may misappropriate, disclose, obtain, copy or use our intellectual property or other proprietary rights or technology without our authorization, or otherwise violate our intellectual property and proprietary rights and we may be required to spend significant resources to monitor, protect and enforce our intellectual property rights. Policing unauthorized use of our technologies, trade secrets and intellectual property is difficult, expensive and time-consuming. If we fail to meaningfully protect our intellectual property and proprietary rights, our business, operating results and financial condition could be adversely affected. Despite our efforts to protect our intellectual property and proprietary rights, there can be no guarantee that such rights will be

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sufficient to protect against others offering products or services that are substantially similar to ours, independently developing similar products, duplicating any of our products, other adopting trade names similar to ours, competing with our business or attempting to copy aspects of our technology and using information that we consider proprietary, thereby impeding our ability to promote our platform and possibly leading to customer confusion.

In addition to registered intellectual property rights, we rely on non-registered proprietary information and technology. We make business decisions about when to seek patent protection for a particular technology and when to rely upon trade secret protection and the approach we select may ultimately prove to be inadequate. In order to protect our proprietary information and technology, we rely in part on confidentiality agreements with our employees, consultants, third-party developers, partners, and other parties who create intellectual property on our behalf and enter into confidentiality agreements with our employees, consultants, strategic and business partners and other parties who have access to our confidential information. However, these agreements may not be effective in controlling access to and distribution of our proprietary information and intellectual property, may not be self-executing, sufficient in scope or enforceable, and these agreements do not prevent our competitors or partners from independently developing technologies that are equivalent or superior to our platform. We also cannot guarantee that we have entered into such agreements with all parties who may have or have had access to our proprietary and confidential information or otherwise developed intellectual property for us or that the agreements we have entered into will not be breached. Our inability to protect our proprietary technology against unauthorized copying or use, as well as any costly litigation or diversion of our management's attention and resources in connection with intellectual property-related disputes, could delay further sales or the implementation of our platform, impair the functionality of our platform, delay introductions of new functionality to our platform, resulting in the substitution of inferior or more costly technologies into our platform, or injure our reputation.

If we elect to file patent applications in the future, we may be unable to obtain patent protection for the technology covered in our patent applications or obtain the coverage originally sought. In addition, any patents issued in the future may not provide us with competitive advantages or may be successfully challenged by third parties, which could result in them being narrowed in scope or declared invalid or unenforceable. It is also possible that third parties, including our competitors, may obtain patents relating to technologies that overlap or compete with our technology. If third parties obtain patent protection with respect to such technologies, they may assert that our technology infringes their patents and seek to charge us a licensing fee or otherwise preclude the use of our technology or file a suit against us. Any of our patents, trademarks or other intellectual property rights may lapse, be abandoned, be challenged, or circumvented by others or be invalidated through administrative process or litigation.

We also may be unable to obtain trademark protection for our products and brands, and our trademarks that are currently in the process of registration, and any trademarks that may be used in the future, may not provide us with competitive advantages or distinguish our products and services from those of our competitors. In addition, our trademarks may be contested or found unenforceable, weak or invalid, and we may not be able to prevent third parties from infringing or otherwise violating them.

Currently, all of our operations and customers are based in Hong Kong. If we expand our international presence, our exposure to unauthorized copying and use of our platform and proprietary information may increase. Moreover, effective trademark, copyright, patent and trade secret protection may not be available or commercially feasible in every country in which we conduct business, as the laws of certain foreign countries may not protect intellectual property rights and technology to the same extent as the laws of the United States or Hong Kong. Further, intellectual property law, including statutory and case law, is constantly developing and changes in, or unexpected interpretations of, intellectual property laws could make it harder for us to enforce our rights. Third parties may also legitimately and independently develop products, services and technology similar to or duplicative of our products and solutions.

We may be subject to claims by third parties that we have infringed, misappropriated, or otherwise violated their intellectual property. Such litigation could result in the impairment or loss of portions of our intellectual property and require us to, among other things, redesign or stop providing our products, pay substantial amounts to satisfy judgments or settle claims or lawsuits, pay substantial royalty or licensing fees, or satisfy indemnification obligations that we have with certain parties with whom we have commercial relationships. We may be required to change, in whole or in part, certain of our products that have allegedly infringed upon the intellectual property rights of third parties. Any changes to our products or to revenue attributable to any of our products that are in violation of others' intellectual property rights may materially adversely affect our results of operations, reputation and the demand for our products. In addition, such changes may require attention from our management, cause us to incur additional legal expenses, or

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in some cases, require us to create reserves, all of which may materially adversely affect us. Furthermore, litigation may be necessary to enforce our intellectual property rights and protect our trade secrets. Litigation brought to defend, protect, or enforce our intellectual property rights could be costly, time-consuming and distracting to management, regardless of the outcome. Enforcement of our intellectual property rights may be met with defenses, counterclaims and countersuits attacking the validity and enforceability of our intellectual property. Many companies may have the capability to dedicate greater resources to enforce their intellectual property rights and to defend claims that may be brought against them. In addition, because of the substantial discovery required in connection with intellectual property litigation, our confidential or sensitive information could be compromised by disclosure in such litigation. There could also be public announcements regarding the results of such litigation and if securities analysts or investors perceive these results to be negative, it could have a substantial adverse effect on the price of our Ordinary Shares.

#### We expect to incur research and development costs to develop new products, which could significantly reduce our profitability and may never result in revenue.
Our future growth depends on penetrating new markets, adapting existing products to new applications and customer requirements, and introducing new products and solutions that achieve market acceptance. We have incurred, and plan to continue to incur, significant research and development costs in the future as part of our efforts to design, develop, manufacture and introduce new products and enhance existing products. Our research and development efforts may not produce successful results, and our new products may not achieve market acceptance, create additional revenue or become profitable.

***We may incur losses or experience disruption of our operations as a result of act of God, unforeseen or catastrophic events, including pandemics, terrorist attacks, or natural disasters.***

Our business could be materially and adversely affected by catastrophic events or other business continuity problems, such as natural or man-made disasters, pandemics such as COVID-19, Fire, floods, typhoons, earthquakes, power loss, telecommunications failures, break-ins, war, riots, political unrest, terrorist attacks or similar events may give rise to server interruptions, breakdowns, system failures, technology platform failures or Internet failures, which could cause the loss or corruption of data or malfunctions of software or hardware as well as adversely affect our ability to operate, including communicating with customers and the relevant listing authorities. For example, epidemics threaten people's lives and may adversely affect their livelihood as well as their living and consumption patterns. The occurrence of an epidemic is beyond our control, and we cannot assure you that the outbreak of coronavirus (including COVID-19), severe acute respiratory syndrome, the H5N1 strain of avian influenza, the H1N1 strain of swine flu, the Zika virus or any other epidemics or pandemics will not happen. Any epidemic or pandemic occurring, such as the most recent outbreak of COVID-19, in the PRC, Hong Kong, Taiwan and Macau, or even in areas outside of the PRC, Hong Kong, Taiwan and Macau, may severely affect and restrict the level of economic activity as the government may impose regulatory administrative measures quarantining affected areas or other measures to control the outbreak of the disease, which in turn may adversely affect our business, financial condition and results of operations.

Our headquarter is located in Hong Kong, where our directors and management and all of our employees currently reside. Consequently, we are highly susceptible to factors adversely affecting Hong Kong. A disaster or a disruption in the infrastructure that supports our businesses, a disruption involving electronic communications or other services used by us or third parties with whom we conduct business, or a disruption that directly affects our headquarter, could have a material adverse impact on our ability to continue to operate our business without interruption. Our business could also be adversely affected if our employees are affected by pandemics. In addition, our results of operations could be adversely affected to the extent that any pandemic harms the Chinese or Hong Kong economy in general. The incidence and severity of disasters or other business continuity problems are unpredictable, and our inability to timely and successfully recover could materially disrupt our businesses and cause material financial loss, regulatory actions, reputational harm, or legal liability.

#### Inflation, especially the increases in labor costs, may adversely affect our business and results of operations.
The economy in Hong Kong and globally has experienced general increases in inflation and labor costs in recent years. As a result, average wages in Hong Kong and certain other regions are expected to continue to increase. In addition, we are required by Hong Kong laws and regulations to pay various statutory employee benefits, including mandatory provident funds for the benefit of our employees. The relevant government agencies may examine whether an employer has made adequate payments to the statutory employee benefits, and those employers who fail to make adequate

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payments may be subject to fines and other penalties. We expect that our labor costs, including wages and employee benefits, will continue to increase. Unless we are able to control our labor costs or pass on these increasing labor costs, our financial condition and results of operations may be adversely affected.

#### Our costs and expenses may remain constant or increase even if our revenues decline.
A significant portion of our operating costs, including salary and rent, is fixed. Accordingly, a decrease in our revenues could result in a disproportionately higher decrease in our earnings because our operating costs and expenses may not decrease proportionately. In addition, our staff costs and rent may increase over time. However, we cannot assure you that we have the ability to pass increased costs on to our customers through service fee increases as it depends on a variety of factors beyond our control, such as the global economic environment and stock market conditions. Therefore, our costs and expenses may remain constant or increase even if our revenues decline, which would adversely affect our net margins and results of operations.

***Our management team lacks experience in managing a U.S. public company and complying with laws applicable to such a company, the failure of which may adversely affect our business, financial condition and results of operations.***

Our current management team lacks experience in managing a U.S. publicly traded company, interacting with public company investors and complying with the increasingly complex laws pertaining to U.S. public companies. Prior to the completion of this Offering, we were a private company operating our businesses in Hong Kong. As a result of this Offering, our company will become subject to significant regulatory oversight and reporting obligations under the federal securities laws and the scrutiny of securities analysts and investors, and our management currently has no experience in complying with such laws, regulations and obligations. Our management team may not successfully or efficiently manage our transition to becoming a U.S. public company. These new obligations and constituents will require significant attention from our senior management and could divert their attention away from the day-to-day management of our business, which could adversely affect our business, financial condition and results of operations.

***Our executive officers and directors hold or may have served certain management positions and directorships of other companies, including related parties, which may result in potential conflicts of interest and divert their time and attention from our business. This could have a negative impact on our ability to implement our plan of operation.***

Our executive officers and directors currently serve, have previously held or may, from time to time, serve in positions as officers or directors of other companies, for which they may be entitled to substantial compensation, which may result in a conflict of interest in allocating their time between our operations and their other businesses. Pursuant to their employment agreement, they are employed with the Company on a full-time basis, but shall be permitted to participate in certain limited business activities. Subject to our Board's prior approval, they may serve as an officer, stakeholder, or member of the board of directors or advisory board (or the equivalent in the case of a non-corporate entity) of non-competing for-profit businesses and charitable organizations, provided, however, that such activities do not materially interfere, individually or in the aggregate, with the performance of their duties and responsibilities to the Company.

For example, EDU Blockchain, which is a related party as disclosed in "Related Party Transactions" beginning on page 112 of this prospectus, is an entity outside of our Group in which certain of our directors and officers hold or previously held positions. Our Chief Financial Officer previously served as the chief financial officer at EDU Blockchain but has since resigned from that role. He has received compensation from EDU Blockchain for his role as the chief financial officer from March 2024 to March 2025. Our Chief Executive Officer has served as a director of EDU Blockchain since January 2024, but has not received any compensation from EDU Blockchain. Our Chairman of the Board also serves as the chairman of EDU Blockchain, and has received compensation from EDU Blockchain. Our Chief Operating Officer has served as the director of EDU Blockchain since September 2022, but he has never received any compensation from EDU Blockchain. Following the Reorganization of the Group in preparation for the initial public offering, EDU Blockchain ceased to have any substantive operations or material assets. As a result, we believe that EDU Blockchain presents minimal risk of conflicts of interest or diversion of management attention.

As of the date of this prospectus, except for the directorships held by our Chairman of the Board, Chief Executive Officer, and Chief Operating Officer at EDU Blockchain, none of our executive officers serve in board or management positions at entities identified as related parties under the "Related Party Transactions" section. For details on

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the entity(ies) that have a member of key management in common with the Company, please see "Related Party Transactions" on page 112 of this prospectus, including the table on page 112 identifying major related parties and their respective relationships with the Company.

The existing external commitments and any future commitments of our executive officers to other companies may potentially divert their significant time and attention away from the strategic and operational needs of our company. Their divided focus could lead to delays in decision-making, hinder effective communication within our Company, give rise to potential conflicts of interest, and introduce a divergence in priorities, consequently impacting the overall efficacy of leadership. Additionally, the potential for conflicting interests arising from commitments to multiple entities may pose challenges in aligning the officer's priorities with the long-term goals and interests of our company, thereby introducing an element of uncertainty and potential disruption to our operations. We do not believe that any such potential conflicts would materially affect our ability to conduct our operations. It is essential to acknowledge and address these complexities to ensure that our executive officers can effectively balance their responsibilities and fulfill their commitments to our company while maintaining transparency and integrity in their various roles. Failure to do so may adversely affect our business, financial conditions, and results of operations.

#### An economic downturn may adversely affect consumer discretionary spending and demand for our products and services.
Our products and services may be considered discretionary purchases for consumers. Factors affecting the level of consumer spending for such discretionary items include general economic conditions and other factors, such as consumer confidence in future economic conditions, consumer sentiment, the availability and cost of consumer credit, levels of unemployment, and tax rates. Unfavorable economic conditions may lead consumers to delay or reduce purchases of our products and services, and the demand for our products and services may not grow as we expect. Our sensitivity to economic cycles and any related fluctuation in consumer demand for our products and services may have an adverse effect on our results of operations and financial condition.

#### A sustained outbreak of the COVID-19 pandemic could have a material adverse impact on our business, operating results, and financial condition.
Since late December 2019, the outbreak of the COVID-19 pandemic has spread rapidly throughout China and later to the rest of the world. On March 11, 2020, the World Health Organization declared the novel coronavirus (COVID-19) outbreak a global pandemic. The COVID-19 pandemic has led governments across the globe to impose a series of measures intended to contain its spread, including border closures, travel bans, quarantine measures, social distancing, and restrictions on business operations and large gatherings. From late 2020 to mid-2021, COVID-19 vaccination programs were widely rolled out across the globe; however, during the same period, multiple COVID-19 variants emerged in different parts of the world. Supply chain disruptions have posed significant challenges to the global economy since the onset of the COVID-19 pandemic. For instance, China's extended COVID-19 lockdown in Shanghai, a major port and business hub, led to significant logistical disruptions, which have severely slowed the severely slowing the transport of goods. Lockdowns in various countries, labor shortages, increased demand for tradable goods, disruptions in logistics networks, and capacity constraints have collectively contributed to rising freight costs and longer delivery times. For the six months ended December 31, 2024 and 2023, and the fiscal years ended June 30, 2023 and 2024, the COVID-19 pandemic has had no impact on our operations. However, we are vulnerable to ongoing supply chain challenges and potential future disruptions for the products sourced from our suppliers in the People's Republic of China (PRC). Furthermore, our business may continue to be adversely affected if concerns related to COVID-19 or other public health crises result in restrictions on travel, workforce availability, or supply chain operations. The long-term effects of COVID-19 remain uncertain and could impact our personnel, vendors, and service providers. While most countries lifted COVID-19 restrictions by mid-2023, the pandemic had lasting economic and social consequences, forcing businesses — including ours — to adapt to evolving consumer behavior, supply chain disruptions, and market volatility.

Looking ahead, while vaccination efforts and new treatments have mitigated some risks, the potential emergence of new COVID-19 variants or other unforeseen global health crises could cause renewed disruptions. If such events occur, our ability to achieve our business objectives, secure financing, or sustain our projected growth rate may be materially and adversely affected. Additionally, economic slowdowns, capital market volatility, and potential disruptions in the apparel industry could further impact our financial performance. We will continue to monitor these risks closely.

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***Events such as natural disasters, adverse weather conditions, political unrest and terrorist attacks could have a material adverse impact on our business, operating results, and financial condition.***

Our operations are subject to uncertainties and contingencies beyond our control that could result in material disruptions in our operations and adversely affect our business. We are vulnerable to natural disasters and other calamities. Our office is presently located on a leased premise. We cannot assure you that such property will have adequate measures to protect itself from the effects of fire, floods, typhoons, earthquakes, power loss, telecommunications failures, break-ins, war, riots, terrorist attacks, or similar events. If our Operating Subsidiary cannot take remedial actions in a timely manner, our business, financial condition and results of operations may be materially and adversely affected. Moreover, our business operations could be disrupted due to a negative impact on investor confidence and risk appetites, the fund-raising activities of issuers and proposed listing applicants, the macroeconomic conditions as well as the financial conditions in Hong Kong. Our business operations, financial condition as well as our fundraising activities as contemplated by this prospectus may be materially and adversely affected as a result.

#### Risks Related to Doing Business in Hong Kong
***All of our operations are in Hong Kong. However, due to the long-arm application of the current PRC laws and regulations, the PRC government may exercise significant direct oversight and discretion over the conduct of our business and may intervene or influence our operations, which could result in a material change in our operations and/or the value of our Ordinary Shares. Our Operating Subsidiary in Hong Kong may be subject to the laws and regulations of Mainland China, which may impact our ability to operate profitably and result in a material negative impact on our operations and/or the value of our Ordinary Shares. Furthermore, the changes in the policies, laws, regulations, rules, and enforcement of laws of Mainland China may also occur quickly with little advance notice and our assertions and beliefs of the risk imposed by the Mainland China legal and regulatory system cannot be certain.***

Idea Tech Cayman is a holding company, and we conduct our operations in Hong Kong through Ask Idea, our wholly owned Operating Subsidiary, formed in Hong Kong. All of our operations are located in Hong Kong and none of our customers are located in Mainland China; however, certain of our suppliers are based there. Our Operating Subsidiary does not have operations in Mainland China or is not regulated by any regulator in Mainland China. Pursuant to the Basic Law of the Hong Kong Special Administrative Region of the People's Republic of China ("Basic Law"), national laws of Mainland China do not apply in Hong Kong unless they are listed in Annex III of the Basic Law and applied locally by promulgation or local legislation. National laws that may be listed in Annex III are currently limited under the Basic Law to those which fall within the scope of defense and foreign affairs as well as other matters outside the limits of the autonomy of Hong Kong. National laws and regulations relating to data protection, cybersecurity and anti-monopoly have not been listed in Annex III and therefore, do not apply directly to Hong Kong.

However, due to long-arm provisions under the current PRC laws and regulations, there remains regulatory and legal uncertainty with respect to the implementation of laws and regulations of Mainland China to Hong Kong. As a result, there is no guarantee that the PRC government may not choose to implement the laws of Mainland China to Hong Kong and exercise significant direct influence and discretion over the operation of our Operating Subsidiary in the future, and it will not have a material adverse impact on our business, financial condition and results of operations, due to changes in laws, political arrangement, or other unforeseeable reasons.

In the event that our Hong Kong Operating Subsidiary is to become subject to the laws and regulations of Mainland China, the legal and operational risks associated with Mainland China may also apply to our operations in Hong Kong, and we face the risks and uncertainties associated with the legal system in the Mainland China, complex and evolving PRC laws and regulation, and as to whether and how the recent PRC government statements and regulatory developments, such as those relating to data and cyberspace security and anti-monopoly concerns, would be applicable to companies like our Operating Subsidiary and us, given the substantial operations of our Operating Subsidiary in Hong Kong and the Chinese government may exercise significant oversight over the conduct of business in Hong Kong.

The laws and regulations in Mainland China are evolving, and their enactment timetable, interpretation, enforcement, and implementation involve significant uncertainties and may change quickly with little advance notice, along with the risk that the PRC government may intervene or influence our Operating Subsidiary's operations at any time could result in a material change in our operations and/or the value of our securities. Moreover, there may be substantial uncertainties regarding the interpretation and application of PRC laws and regulations, including but not limited to the

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laws and regulations related to our business and the enforcement and performance of our arrangements with customers in certain circumstances. The laws and regulations are sometimes vague and may be subject to future changes, and their official interpretation and enforcement may involve substantial uncertainty. The effectiveness and interpretation of newly enacted laws or regulations, including amendments to existing laws and regulations, may be delayed, and our business may be affected if we rely on laws and regulations which are subsequently adopted or interpreted in a manner different from our understanding of these laws and regulations. New laws and regulations that affect existing and proposed future businesses may also be applied retroactively. We cannot predict what effect the interpretation of existing or new PRC laws or regulations may have on our business.

The laws, regulations, and other government directives in Mainland China may also be costly to comply with, and such compliance or any associated inquiries or investigations or any other government actions may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• delay or impede our development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• result in negative publicity or increase our operating costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• require significant management time and attention;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cause a devaluation of our securities or delisting; and,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• subject us to remedies, administrative penalties and even criminal liabilities that may harm our business, including fines assessed for our current or historical operations, or demands or orders that we modify or even cease our business operations.

We are aware that recently, the PRC government initiated a series of regulatory actions and statements to regulate business operations in certain areas in Mainland China with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision over Mainland China-based companies listed overseas using a variable interest entity structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. We have no operations in Mainland China. Our Operating Subsidiary is located and operates in Hong Kong, a special administrative region of the PRC. As advised by Bird & Bird, our counsel as to the laws of Hong Kong, pursuant to the Basic Law of Hong Kong, or the Basic Law, which is a national law of the PRC and the constitutional document for Hong Kong, national laws of the PRC shall not be applied in Hong Kong except for those listed in Annex III of the Basic Law (which shall be confined to laws relating to defense and foreign affairs as well as other matters outside the autonomy of Hong Kong). Whilst the National People's Congress of the PRC, or the NPC, has the power to amend the Basic Law, the Basic Law also expressly provides that no amendment to the Basic Law shall contravene the established basic policies of the PRC regarding Hong Kong. As a result, national laws of the PRC not listed in Annex III of the Basic Law, including rules and regulations established by the CSRC do not apply to our businesses in Hong Kong. Therefore, we are not currently required to obtain permission from the PRC government to list on a U.S. securities exchange and consummate this Offering. However, there is no guarantee that this will continue to be the case in the future in relation to the continued listing of our securities on a securities exchange outside of the PRC, or even when such permission is obtained, it will not be subsequently denied or rescinded.

The PRC government may intervene or influence our operations or may exert control over offerings conducted overseas and foreign investment in Hong Kong-based issuers, which may result in a material change in our operations and/or the value of our Ordinary Shares. For example, there is currently no restriction or limitation under the laws of Hong Kong on the conversion of HK dollar into foreign currencies and the transfer of currencies out of Hong Kong and the laws and regulations of the PRC on currency conversion control do not currently have any material impact on the transfer of cash between the ultimate holding company and the Operating Subsidiary in Hong Kong. However, the Chinese government may, in the future, impose restrictions or limitations on our ability to move money out of Hong Kong to distribute earnings and pay dividends to and from the other entities within our organization or to reinvest in our business outside of Hong Kong. Such restrictions and limitations, if imposed in the future, may delay or hinder the expansion of our business to outside of Hong Kong and may affect our ability to receive funds from our Operating Subsidiary in Hong Kong. The promulgation of new laws or regulations, or the new interpretation of existing laws and regulations, in each case, that restrict or otherwise unfavorably impact the ability or way we conduct our business, could require us to change certain aspects of our business to ensure compliance, which could decrease demand for our services, reduce revenues, increase costs, require us to obtain more licenses, permits, approvals or certificates, or subject us to additional liabilities. To the extent any new or more stringent measures are required to be implemented, our business, financial condition and results of operations could be adversely affected and such measured could materially decrease the value of our Ordinary Shares, potentially rendering it worthless.

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***There remain significant uncertainties as to whether we will be required to obtain approvals from Chinese authorities to list on the U.S. exchanges and offer securities in the future, and if required, we cannot assure you that we will be able to obtain such approval. We may become subject to a variety of PRC laws and other obligations regarding data security in relation to offerings that are conducted overseas, and any failure to comply with applicable laws and obligations could have a material and adverse effect on our business, financial condition and results of operations and may hinder our ability to offer or continue to offer Ordinary Shares to investors and cause the value of our Ordinary Shares to significantly decline or be worthless.***

Recently, the PRC government initiated a series of regulatory actions and statements to regulate business operations in certain areas in Mainland China with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision over mainland-China-based companies listed overseas using variable interest entity structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. For example, on July 6, 2021, the General Office of the Communist Party of China Central Committee and the General Office of the State Council jointly issued a document to crack down on illegal activities in the securities market and promote the high-quality development of the capital market, which, among other things, requires the relevant governmental authorities to strengthen cross-border oversight of law-enforcement and judicial cooperation, to enhance supervision over mainland-China-based companies listed overseas, and to establish and improve the system of extraterritorial application of the PRC securities laws.

On August 20, 2021, the 30<sup>th</sup> meeting of the Standing Committee of the 13<sup>th</sup> National People's Congress voted and passed the "Personal Information Protection Law of the People's Republic of China," or "PRC Personal Information Protection Law," or the "PIPL," which became effective on November 1, 2021. The PRC Personal Information Protection Law applies to the processing of personal information of natural persons within the territory of China that is carried out outside of China where (1) such processing is for the purpose of providing products or services for natural persons within China, (2) such processing is to analyze or evaluate the behavior of natural persons within China, or (3) there are any other circumstances stipulated by related laws and administrative regulations. Pursuant to the PIPL, personal data processors ("data processors") shall meet one of the conditions in order to transmit personal information overseas for their business operations: (i) passing the security evaluation organized by the Cyberspace Administration of China (the "CAC"); (ii) acquiring personal information protection certification from the professional organizations regulated by the CAC; (iii) adopting the standard contract forms stipulated by the CAC when entering into contracts with overseas information receivers, setting forth the rights and obligations of the parties; and (iv) other conditions regulated by laws, regulations and the CAC. Prior to the cross-border provision of personal information of the natural persons, personal information processors shall obtain the approval of the corresponding natural persons and advise them of the overseas receiver's name, contact information, processing purpose and methods, classification of personal information and information reception procedures, etc.

On December 28, 2021, the CAC, jointly with the relevant authorities, formally published Measures for Cybersecurity Review (2021) which took effect on February 15, 2022 and replaced the former Measures for Cybersecurity Review (2020) issued on July 10, 2021. Measures for Cybersecurity Review (2021) stipulates that in addition to "operator of critical information infrastructure," any "data processor" carrying out data processing activities that affect or may affect national security should also be subject to cybersecurity review, and further elaborated the factors to be considered when assessing the national security risks of the relevant activities, including, among others, (i) the risk of core data, important data or a large amount of personal information being stolen, leaked, destroyed, and illegally used or transferred outside the country; and (ii) the risk of critical information infrastructure, core data, important data or a large amount of personal information being affected, controlled, or maliciously used by foreign governments after listing abroad. CAC has said that under the proposed rules, companies holding data on more than one million users must apply for cybersecurity approval when seeking listings in other nations because of the risk that such data and personal information could be "affected, controlled, and maliciously exploited by foreign governments." The cybersecurity review will also investigate the potential national security risks from overseas IPOs. Due to the lack of further interpretations, the exact scope of what constitutes an "operator of critical information infrastructure" remains unclear. Further, the PRC government authorities may have wide discretion in the interpretation and enforcement of these laws. In addition, the Measures for Cybersecurity Review (2021) stipulates that any online platform operators holding more than one million users/users' individual information shall be subject to cybersecurity review before listing abroad. As of the date of this prospectus, we have not received any notice from any authorities identifying us as an "operator of critical information infrastructure" or "data processor" or requiring us to undertake a cybersecurity review by the CAC. Further, as of the date of this prospectus, we have not been subject to any penalties, fines, suspensions, or investigations from any competent authorities for violation of the regulations or policies that have been issued by the CAC.

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As advised by our Hong Kong counsel, Bird & Bird, pursuant to the Basic Law, or the Basic Law, which is a national law of the PRC and the constitutional document for Hong Kong, national laws of the PRC shall not be applied in Hong Kong except for those listed in Annex III of the Basic Law (which shall be confined to laws relating to defense and foreign affairs as well as other matters outside the autonomy of Hong Kong).Whilst the National People's Congress of the PRC, or the NPC, has the power to amend the Basic Law, the Basic Law also expressly provides that no amendment to the Basic Law shall contravene the established basic policies of the PRC regarding Hong Kong. As a result, national laws of the PRC not listed in Annex III of the Basic Law, including the Measures for Cybersecurity Review (2021), PIPL, or other relevant Mainland China data privacy, cybersecurity laws and other regulations do not apply to our businesses in Hong Kong.

On December 24, 2021, the CSRC, together with other relevant government authorities in China, issued the Provisions of the State Council on the Administration of Overseas Securities Offering and Listing by Domestic Companies (Draft for Comments), and the Measures for the Filing of Overseas Securities Offering and Listing by Domestic Companies (Draft for Comments) ("Draft Overseas Listing Regulations"). The Draft Overseas Listing Regulations requires that a PRC domestic enterprise seeking to issue and list its shares overseas ("Overseas Issuance and Listing") shall complete the filing procedures and submit the relevant information to CSRC. The Overseas Issuance and Listing includes direct and indirect issuance and listing. Where an enterprise whose principal business activities are conducted in PRC seeks to issue and list its shares in the name of an overseas enterprise ("Overseas Issuer") on the basis of the equity, assets, income or other similar rights and interests of the relevant PRC domestic enterprise, such activities shall be deemed an indirect overseas issuance and listing ("Indirect Overseas Issuance and Listing") under the Draft Overseas Listing Regulations.

On February 17, 2023, the CSRC promulgated the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies (the "Trial Administrative Measures"), which took effect on March 31, 2023. Compared to the Draft Overseas Listing Regulations, the Trial Administrative Measures further clarified and emphasized that the comprehensive determination of the "indirect overseas offering and listing by PRC domestic companies" shall comply with the principle of "substance over form" and particularly, an issuer will be required to go through the filing procedures under the Trial Administrative Measures if the following criteria are met at the same time: a) 50% or more of the issuer's operating revenue, total profits, total assets or net assets as documented in its audited consolidated financial statements for the most recent accounting year are accounted for by PRC domestic companies, and b) the main parts of the issuer's business activities are conducted in Mainland China, or its main places of business are located in Mainland China, or the senior managers in charge of its business operation and management are mostly Chinese citizens or domiciled in Mainland China. On the same day, the CSRC held a press conference for the release of the Trial Administrative Measures and issued the Notice on Administration for the Filing of Overseas Offering and Listing by Domestic Companies, which, among others, provided the exemption from immediate filings for issuers that a) have been listed or have been registered but not yet listed in foreign securities markets, including U.S. markets, prior to the effective date of the Trial Administrative Measures, b) are not required to re-perform the regulatory procedures with the relevant overseas regulatory authority or the overseas stock exchange, and c) will complete the overseas securities offering and listing before September 30, 2023. Nonetheless, such issuers shall carry out the filing procedures as required if they subsequently conduct refinancing or are involved in other circumstances that require filings with the CSRC. Furthermore, the Trial Administrative Measures and its supporting guidelines provide a negative list of types of issuers banned from listing overseas, the issuers' obligation to comply with national security measures and personal data protection laws, and certain other matters such as the requirements that an issuer (i) file with the CSRC within three business days after it submits an application for initial public offering to the competent overseas regulator and (ii) file subsequent reports with the CSRC on material events, including change of control and voluntary or forced delisting, after its overseas offering and listing.

As the Trial Administrative Measures are newly issued, there remains uncertainty as to how it will be interpreted or implemented. Therefore, we cannot assure you when or whether we will be subject to such filing requirements or whether we will be able to get clearance from the CSRC in a timely manner or at all, even though we believe that none of the situations that would clearly prohibit overseas listing and offering applies to us. We are not required to obtain regulatory approval from the CSRC or go through the filing procedures under the Trial Administrative Measures before our Ordinary Shares can be listed or offered in the U.S. because pursuant to the Basic Law, PRC laws and regulations shall not be applied in Hong Kong except for those listed in Annex III of the Basic Law (which is confined to laws relating to national defense, foreign affairs and other matters that are not within the scope of autonomy).

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However, given the uncertainties regarding the interpretation and enforcement of the PRC laws and regulations and the significant authority of the PRC government to intervene or influence the offshore holding company headquartered in Hong Kong, there remains significant uncertainty in the interpretation and enforcement of the Trial Administrative Measures, PIPL, relevant Mainland China data privacy, cybersecurity laws and other regulations. It is highly uncertain how soon the legislative or administrative regulation-making bodies will respond and what existing or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any. It is also highly uncertain what the potential impact such modified or new laws and regulations will have on the daily business operations of our Operating Subsidiary and the listing of our Ordinary Shares on the U.S. or other foreign exchanges. As the Trial Administrative Measures are newly issued, there remains uncertainty as to how it will be interpreted or implemented. Therefore, we cannot assure you that when and whether we will be subject to such filing requirements or will be able to get clearance from the CSRC in a timely manner, or at all, even though we believe that none of the situations that would clearly prohibit overseas listing and offering applies to us.

Since these proposed rules, statements and regulatory actions are new, it is highly uncertain how soon the legislative or administrative regulation making bodies will respond and what existing or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any. Any failure of us to fully comply with new regulatory requirements may significantly limit or completely hinder our ability to offer or continue to offer the Ordinary Shares, cause significant disruption to our business operations, severely damage our reputation, materially and adversely affect our financial condition and results of operations, and cause the Ordinary Shares to significantly decline in value or become worthless.

Although we are currently not required to obtain approvals from the PRC authorities to operate our business or list on the U.S. exchanges and offer securities, specifically, we are currently not required to obtain any permission or approval from the CSRC, the CAC or any other PRC governmental authority to operate our business or to list our securities on a U.S. securities exchange or issue securities to foreign investors. We cannot assure you that PRC regulatory agencies, including the CAC, would take the same view as we do, and there is no assurance that we can fully or timely comply with such laws. In the event that we are subject to any mandatory cybersecurity review and other specific actions required by the CAC, we face uncertainty as to whether any clearance or other required actions can be completed in a timely fashion or at all. Given such uncertainty, we may be further required to suspend our relevant business, shut down our website, or face other penalties which could materially and adversely affect our business, financial condition, and results of operations.

Furthermore, if the Trial Administrative Measures, Measures for Cybersecurity Review (2021), the PIPL, become applicable to us or our Operating Subsidiary in Hong Kong, our operation and the listing of our Ordinary Shares in the United States could be subject to the CAC's cybersecurity review or the CSRC review in the future. If the applicable laws, regulations, or interpretations change and our Operating Subsidiary become subject to the CAC or CSRC review, we cannot assure you that our Operating Subsidiary will be able to comply with the regulatory requirements in all respects and our current practice of collecting and processing personal information may be ordered to be rectified or terminated by regulatory authorities. Compliance with these laws and regulations could significantly increase the cost to us of providing our service offerings, require significant changes to our operations or even prevent us from providing certain service offerings in jurisdictions in which we currently operate or in which we may operate in the future. If there is a significant change to the current political arrangements between Mainland China and Hong Kong, or the applicable laws, regulations, or interpretations change, and/or if we were required to obtain such permissions or approvals in the future in connection with the listing or continued listing of our securities on a stock exchange outside of the PRC, it is uncertain how long it will take for us to obtain such approval, and, even if we obtain such approval, the approval could be rescinded. Any failure to obtain or a delay in obtaining the necessary permissions from the PRC authorities to conduct offerings or list outside of the PRC may subject us to sanctions imposed by the CSRC, CAC, or other PRC regulatory authorities. It could include fines and penalties, proceedings against us, and other forms of sanctions, and our ability to conduct our business, invest in Mainland China as foreign investments or accept foreign investments, ability to offer or continue to offer Ordinary Shares to investors or list on the U.S. or other overseas exchange may be restricted, and the value of our Ordinary Shares may significantly decline or be worthless, our business, reputation, financial condition, and results of operations may be materially and adversely affected. The CSRC, the CAC, or other PRC regulatory agencies also may take actions requiring us, or making it advisable for us, to halt this offering before settlement and delivery of our Ordinary Shares. In addition, if the CSRC, the CAC, or other regulatory PRC agencies later promulgate new rules requiring that we obtain their approvals for this offering, we may

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be unable to obtain a waiver of such approval requirements, if and when procedures are established to obtain such a waiver. Any uncertainties and/or negative publicity regarding such an approval requirement could have a material adverse effect on the trading price of our securities.

***Although we and our subsidiaries are not based in Mainland China and we have no operations in Mainland China, the PRC government may intervene or influence our current and future operations in Hong Kong at any time, or may exert more control over offerings conducted overseas and/or foreign investment in issuers like us. It may result in a material adverse change in our operations, significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value of our securities to significantly decline or become worthless, which would materially affect the interests of the investors.***

As one of the conditions for the handover of the sovereignty of Hong Kong to China, China accepted conditions such as Hong Kong's Basic Law, which is a national law of the PRC and the constitutional document for Hong Kong. The Basic Law ensured Hong Kong would retain its own currency (the Hong Kong Dollar), legal system, parliamentary system and people's rights and freedom for fifty years from 1997. This agreement has given Hong Kong the freedom to function with a high degree of autonomy. The Special Administrative Region of Hong Kong is responsible for its own domestic affairs, including but not limited to the judiciary and courts of last resort, immigration and customs, public finance, currencies and extradition. Hong Kong continues using the English common law system. Furthermore, pursuant to the Basic Law, national laws of the PRC shall not be applied in Hong Kong except for those listed in Annex III of the Basic Law and applied locally by promulgation or local legislation. The Basic Law expressly provides that the national laws of the PRC, which may be listed in Annex III of the Basic Law shall be confined to those relating to defense and foreign affairs as well as other matters outside the autonomy of Hong Kong. The basic policies of the PRC regarding Hong Kong as a special administrative region of the PRC are reflected in the Basic Law, providing 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."

We and our subsidiaries are not based in Mainland China and do not have operations in Mainland China. Furthermore, none of our customers are located in Mainland China, with certain of our suppliers are based in Mainland China. We currently do not have any subsidiary in Mainland China, or do not foresee the need to enter into any contractual arrangements with a VIE to establish a VIE structure in Mainland China. However, in light of the PRC government's recent expansion of authority in Hong Kong, we may be subject to uncertainty about any future actions of the PRC government or authorities in Hong Kong, and it is possible that all the legal and operational risks associated with being based in and having operations in the Mainland China may also apply to operations in Hong Kong in the future.

There is no assurance that there will not be any changes in the economic, political and legal environment in Hong Kong. The PRC government may intervene or influence our current and future operations in Hong Kong at any time, or may exert more control over offerings conducted overseas and/or foreign investment in issuers like us. Such governmental actions, if and when they occur: (i) could significantly limit or completely hinder our ability to continue our operations; (ii) could significantly limit or hinder our ability to offer or continue to offer our Ordinary Shares to investors; and (iii) may cause the value of our Ordinary Shares to significantly decline or become worthless.

Furthermore, if the PRC attempts to alter its agreement to allow Hong Kong to function autonomously, this could potentially impact Hong Kong's common law legal system and may in turn, bring about uncertainty in, for example, the enforcement of our contractual rights. This could, in turn, materially and adversely affect our Operating Subsidiary's business and operations. The uncertainties regarding the enforcement of laws and the fact that rules and regulations in China can change quickly with little advance notice, along with the risk that the Chinese government may intervene or influence our Operating Subsidiary's operations at any time could result in a material change in our Operating Subsidiary's operations and/or the value of the securities we are registering. Additionally, intellectual property rights and confidentiality protections in Hong Kong may not be as effective as in the United States or other countries. Accordingly, we cannot predict the effect of future developments in the Hong Kong legal system, including the promulgation of new laws, changes to existing laws or the interpretation or enforcement thereof, or the preemption of local regulations by national laws. These uncertainties could limit the legal protections available to us, including the ability to enforce agreements with the customers.

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***If the PRC government chooses to extend the oversight and control over offerings that are conducted overseas and/or foreign investment in Mainland China-based issuers to Hong Kong-based issuers, such action may significantly limit or completely hinder our ability to offer or continue to offer Ordinary Shares to investors and cause the value of our Ordinary Shares to significantly decline or be worthless.***

Recent statements, laws and regulations by the PRC government, including the Measures for Cybersecurity Review (2021), the PRC Personal Information Protection Law and the Trial Administrative Measures published by CSRC on February 17, 2023, which took effect on March 31, 2023, also have indicated an intent to exert more oversight and control over offerings that are conducted overseas and/or foreign investments in Mainland China-based issuers. It remains uncertain as to the enactment, interpretation and implementation of regulatory requirements related to overseas securities offering and other capital markets activities and due to the possibility that laws, regulations, or policies in the PRC could change rapidly in the future.

It remains uncertain whether the PRC government will adopt additional requirements or extend the existing requirements to apply to our Operating Subsidiary located in Hong Kong. It is also uncertain whether the Hong Kong government will be mandated by the PRC government, despite the constitutional constraints of the Basic Law, to control offerings conducted overseas and/or foreign investment of entities in Hong Kong, including our Operating Subsidiary. Any actions by the PRC government to exert more oversight and control over offerings (including of businesses whose primary operations are in Hong Kong) that are conducted overseas and/or foreign investments in Hong Kong-based issuers could significantly limit or completely hinder our ability to offer or continue to offer securities to investors. If there is a significant change to current political arrangements between Mainland China and Hong Kong, or the applicable laws, regulations, or interpretations change, and, in such event, if we are required to obtain such approvals in the future, and we do not receive or maintain the approvals or is denied permission from Mainland China or Hong Kong authorities, we will not be able to list our Ordinary Shares on a U.S. exchange, or continue to offer securities to investors, which would materially affect the interests of the investors and cause significant the value of our Ordinary Shares significantly decline or be worthless.

***The enactment of Law of the PRC on Safeguarding National Security in the Hong Kong Special Administrative Region (the "Hong Kong National Security Law") could impact our Hong Kong subsidiaries.***

On June 30, 2020, the Standing Committee of the PRC National People's Congress adopted the Hong Kong National Security Law. This law defines the duties and government bodies of the Hong Kong National Security Law for safeguarding national security and four categories of offenses — secession, subversion, terrorist activities, and collusion with a foreign country or external elements to endanger national security — and their corresponding penalties. On July 14, 2020, former U.S. President Donald Trump signed the Hong Kong Autonomy Act, or HKAA, into law, authorizing 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. On August 7, 2020 the U.S. government imposed HKAA-authorized sanctions on eleven individuals, including former HKSAR chief executive Carrie Lam and current chief executive John Lee. On October 14, 2020, the U.S. State Department submitted to relevant committees of Congress the report required under HKAA, identifying persons materially contributing to "the failure of the Government of China to meet its obligations under the Joint Declaration or the Basic Law." The HKAA further authorizes secondary sanctions, including the imposition of blocking sanctions, against foreign financial institutions that knowingly conduct a significant transaction with foreign persons sanctioned under this authority. The imposition of sanctions may directly affect foreign financial institutions as well as any third parties or customers dealing with any foreign financial institution that is targeted. It is difficult to predict the full impact of the Hong Kong National Security Law and HKAA on Hong Kong and companies located in Hong Kong. If any of our Hong Kong subsidiaries is determined to be in violation of the Hong Kong National Security Law or the HKAA by competent authorities, our business operations, financial position and results of operations could be materially and adversely affected.

On March 23, 2024, the Hong Kong government enacted the Safeguarding National Security Ordinance ("SNSO"), which is a domestic security legislation under Article 23 of the Basic Law, to prohibit four types of offenses, including secession, subversion, terrorist activities and collusion with a foreign country or with external elements to endanger national security, as well as other offences relating to the endangering of national security, which has been considered as having further significantly undermined the autonomy of Hong Kong. It is difficult for us to predict the degree of adverse impact of the legislation of the SNSO on Hong Kong or our business operations in Hong Kong. However, in any event, since all of our operations are based in Hong Kong, any change in the political arrangements between Hong Kong and the PRC may pose an adverse impact on the stability of the economy in Hong Kong, thereby directly

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and adversely affecting our results of operations and financial positions. Accordingly, we cannot predict the effect of future developments in the Hong Kong legal system, including the promulgation of new laws, changes to existing laws or the interpretation or enforcement thereof, or the pre-emption of local regulations by national laws. These uncertainties could limit the legal protections available to us, including our ability to enforce our agreements with our customers.

***Compliance with Hong Kong's Personal Data (Privacy) Ordinance and any such other existing or future data privacy related laws, regulations and governmental orders may entail significant expenses and could materially affect our business.***

Although we are not subject to cybersecurity review by the CAC or CSRC nor any other PRC authorities for this Offering or required to obtain regulatory approval regarding the data privacy and personal information requirements from the CAC nor any other PRC authorities for ours and our Operating Subsidiary's operations in Hong Kong, we are subject to a variety of laws and other obligations regarding data privacy and protection in Hong Kong.

In particular, the Personal Data (Privacy) Ordinance (Chapter 486 of the laws of Hong Kong) ("PDPO") imposes a duty on any data user who, either alone or jointly with other persons, controls the collection, holding, processing or use of any personal data which relates directly or indirectly to a living individual and can be used to identify that individual. Under the PDPO, data users shall take all practicable steps to protect the personal data they hold from any unauthorized or accidental access, processing, erasure, loss, or use. Once collected, such personal data should not be kept longer than necessary for the fulfillment of the purpose for which it is or is to be used and shall be erased if it is no longer required, unless erasure is prohibited by law or is not in the public interest. The PDPO also confers on the Privacy Commissioner for Personal Data ("Privacy Commissioner") power to conduct investigations and institute prosecutions. The data protection principles (collectively, the "DPP"), which are contained in Schedule 1 to the PDPO, outline how data users should collect, handle, and use personal data, complemented by other provisions imposing further compliance requirements. The collective objective of DPPs is to ensure that personal data is collected on a fully informed basis and in a fair manner, with due consideration towards minimizing the amount of personal data collected. Once collected, the personal data should be processed in a secure manner and should only be kept for as long as necessary for the fulfillment of the purposes of using the data. Use of the data should be limited to or related to the original collection purpose. Data subjects are given certain rights, inter alia: (a) the right to be informed by a data user whether the data user holds personal data of which the individual is the data subject; (b) if the data user holds such data, to be supplied with a copy of such data; and (c) the right to request correction of any data they consider to be inaccurate. The Commissioner may carry out criminal investigations and institute prosecution for certain offenses. Depending on the severity of the cases, the Privacy Commissioner will decide whether to prosecute or refer cases to the Department of Justice of Hong Kong. Victims may also seek compensation by civil action from data users for damage caused by a contravention of the PDPO. The Commissioner may provide legal assistance to the aggrieved data subjects if the Commissioner deems fit to do so. See "Regulation" on page 98.

We believe that we have been in compliance with the data privacy and personal information requirements of the PDPO. Moreover, we do not expect to be subject to any cybersecurity review by Hong Kong and PRC government authorities for this Offering. However, if we or our Operating Subsidiary conducting business operations in Hong Kong is found to be in violation of certain provisions of the PDPO, we could face significant civil penalties and/or criminal prosecution, which could adversely affect our business, financial condition, and results of operations.

#### There are some political risks associated with conducting business in Hong Kong.
Our operations are based in Hong Kong. Accordingly, the political and legal developments in Hong Kong will affect our Operating Subsidiary's business operations and financial conditions. During the period covered by the financial information incorporated by reference into and included in this prospectus, we derive all of our revenue from operations 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 may adversely affect the business operations of Ask Idea, our Operating Subsidiary. 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, namely, 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

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in Hong Kong in the future. Since all of our Operating Subsidiary's operations are based in Hong Kong, any change of such political arrangements may pose an 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, 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 development, including the Law of the People's Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region issued by the Standing Committee of the PRC National People's Congress in June 2020, the U.S. State Department has indicated that the United States no longer considers Hong Kong to have significant autonomy from China and 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 United States 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.

Our revenue is susceptible to ongoing incidents or factors which affect the stability of the social, economic and political conditions in Hong Kong. Any drastic events may adversely affect our Operating Subsidiary's business operations. Such adverse events may include changes in economic conditions and regulatory environment, social and/or political conditions, civil disturbance, or disobedience, as well as significant natural disasters. Given the relatively small geographical size of Hong Kong, any of such incidents may have a widespread effect on our Operating Subsidiary's business operations, which could in turn, adversely and materially affect our business, results of operations and financial condition. It is difficult to predict the full impact of the HKAA on Hong Kong and companies with operations in Hong Kong like us. Furthermore, legislative or administrative actions in respect of China-U.S. relations could cause investor uncertainty for affected issuers, including us, and the market price of our Ordinary Shares could be adversely affected.

***All of our operations are concentrated in Hong Kong. Our business performance is highly influenced by the economic, political, and social conditions of Hong Kong. Unfavorable market and economic conditions and the material deterioration of the political and regulatory environment in Hong Kong, Mainland China, and elsewhere in the world could materially and adversely affect our business, financial condition, prospects, and results of operations.***

All our business operations were carried out in Hong Kong and substantially all of our customers are companies based in Hong Kong. Accordingly, our prospects, financial condition and results of operations are substantially dependent on economic conditions in Hong Kong and are highly susceptible to any development of change in government policies, as well as economic, social, political and legal development in Hong Kong. Any change in the Hong Kong local economic, social and political environment, all of which are beyond our control, may lead to a prolonged period of sluggish market activities, which would in turn, have a material adverse impact on our business.

The economic conditions in general of Hong Kong are highly sensitive to conditions of the political, social and economic conditions in Mainland China and globally. When there are unfavorable changes to the global or local market conditions, the economy in Hong Kong may experience negative fluctuations in its performance. Any prolonged slowdown in the global, Hong Kong or Chinese economy may affect the confidence of our existing and prospective customers, who are substantially SMBs that is sensitive to economic and market fluctuation, in the economy as a whole and have a negative impact on our business, the demand for our services, our pricing strategies, the level of our business activities and consequently our revenue derived therefrom. This may materially and adversely affect our financial condition and the results of operations.

Hong Kong and other key international economies have experienced in the past a downturn in which economic activity was impacted by falling demand for a variety of goods and services, restricted credit, poor liquidity, reduced corporate profitability, volatility in credit, equity and foreign exchange markets, bankruptcies, and overall uncertainty with respect to the economy. These conditions affect the rate of information technology spending and could adversely affect our customers' ability or willingness to purchase our cloud CRM and ERP solutions and services, delay prospective customers' purchasing decisions, reduce the value or duration of their subscription contracts, or affect renewal rates, all of which could adversely affect our operating results.

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The current heightened tensions in international economic relations, such as the one between the United States and China, may also give rise to uncertainties in global economic conditions and adversely affect the economy of Hong Kong. Amid these tensions, the U.S. government has imposed and may impose additional measures on entities in China, including sanctions. The U.S. government has imposed and has continued to propose to impose additional, new, or higher tariffs on certain products imported from China to penalize China for what it characterizes as unfair trade practices. China has responded by imposing, and proposing to impose additional, new, or higher tariffs on certain products imported from the United States. Unfavorable trading, market and economic conditions in Hong Kong, Mainland China, and elsewhere in the world, and the escalations of the tensions that affect trade relations may lead to slower growth in the Hong Kong economy in general, which could negatively affect our customers' business and materially reduce demand for our services solutions and increase price competition, and thus could materially and adversely affect our business, financial condition, and results of operations. In addition, our profitability could be adversely affected due to our fixed costs and the possibility that we would be unable to reduce our variable costs without reducing revenues or within a timeframe sufficient to offset any decreases in revenues relating to changes in the market and economic conditions.

Given the close ties between Hong Kong and Mainland China, the stability of the Hong Kong economy and the domestic market is susceptible to the general economic, political, and regulatory environment in Mainland China. Any material adverse changes in the economic performance, political situations, and regulations in Mainland China may adversely affect the general economic condition in Hong Kong. The economy of Mainland China differs from the economies of most developed countries in a number of aspects, such as the extent of government intervention, growth rate, and control of foreign exchange. In particular, the PRC government exerts substantial control over the growth of the domestic economy by means of, among others, resource allocation as well as setting policy on foreign exchange.

Furthermore, the ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East, have caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, the Middle East and the United States. The hostilities and sanctions resulting from those hostilities have adversely affected and could continue to adversely affect global financial markets and thus, could affect our and our customers' business, even though we do not have any direct exposure to Russia, Israel, or the adjoining geographic regions. However, we cannot predict the progress or outcome of the situation in Ukraine, or Israel, as the conflict and governmental reactions are rapidly developing and beyond their control. Prolonged unrest, intensified military activities, or more extensive sanctions impacting the region could have a material adverse effect on the global economy, and such effect could in turn, have a material adverse effect on the operations, results of operations, financial condition, liquidity and business outlook of our business.

Additionally, continued turbulence in the international financial markets may adversely affect our ability to access the capital markets to meet liquidity needs. Financial markets and economic conditions could be negatively impacted by many factors, both economically and politically, beyond our control, such as the inability to access capital markets, control of the foreign exchange, changes in exchange rates, rising interest rates or inflation, slowing or negative growth rate, government involvement in the allocation of resources, inability to meet financial commitments in a timely manner, terrorism, pandemics such as the COVID-19 pandemic, political uncertainty, Russo — Ukraine war, the outcome of the Sino — US trade dispute, Israel — Hamas conflict, civil unrest, fiscal or other economic policy of Hong Kong or other governments, and the timing and nature of any regulatory reform.

#### We may be affected by the currency peg system in Hong Kong.
Since 1983, Hong Kong dollars have been pegged to U.S. dollars at the rate of approximately HK$7.80 to US$1.00. We cannot assure you that this policy will not be changed in the future. If the pegging system collapses and Hong Kong dollars suffer devaluation, the Hong Kong dollar cost of our expenditures denominated in foreign currency may increase. This would in turn, adversely affect the operations and profitability of our business.

***You may experience difficulties in effecting service of legal process, enforcing foreign judgments or bringing actions in Hong Kong against us or our management named in this prospectus based on Hong Kong laws.***

Currently, all of our operations are conducted in Hong Kong outside the United States, and all of our assets are located outside the United States. A majority of our directors and officers are Hong Kong nationals or residents and a substantial portion of their assets are located in Hong Kong outside the United States. You may experience difficulties in effecting service of legal process, enforcing foreign judgments or bringing actions in Hong Kong against us or our

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management named in the prospectus, as judgments entered in the United States can be enforced in Hong Kong only at common law. If you want to enforce a judgment of the United States in Hong Kong, it must be a final judgment conclusive upon the merits of the claim, for a liquidated amount in a civil matter and not in respect of taxes, fines, penalties, or similar charges, the proceedings in which the judgment was obtained were not contrary to natural justice, and the enforcement of the judgment is not contrary to the public policy of Hong Kong. Such a judgment must be for a fixed sum and must also come from a "competent" court as determined by the private international law rules applied by the Hong Kong courts. For more information regarding the relevant laws of the Cayman Islands and Hong Kong, see "*Enforceability of Civil Liabilities*."

***A downturn in Hong Kong, mainland China, the global economy, or a change in China's economic and political policies could materially and adversely affect our business and financial condition.***

Our business may be influenced to a significant degree by political, economic, and social conditions in Hong Kong and Mainland China generally. The Chinese economy differs from the economies of most developed countries in many respects, including the amount of government involvement, level of development, growth rate, control of foreign exchange, and allocation of resources. While the Chinese economy has experienced significant growth over the past decades, growth has been uneven, both geographically and among various sectors of the economy. The PRC government has implemented various measures to encourage economic growth and guide the allocation of resources. Some of these measures may benefit the overall Chinese economy, but they may have a negative effect on us.

Economic conditions in Hong Kong and Mainland China are sensitive to global economic conditions. Any prolonged slowdown in the global or Chinese economy may affect potential customers' confidence in the financial market as a whole and have a negative impact on our business, results of operations, and financial condition. Additionally, continued turbulence in the international markets may adversely affect our ability to access the capital markets to meet liquidity needs.

***If we become subject to the recent scrutiny, criticism, and negative publicity involving U.S.-listed China-based companies, we may have to expend significant resources to investigate and/or defend the matter, which could harm our business operations, this offering, and our reputation and could result in a loss of your investment in our Ordinary Shares, in particular, if such matter cannot be addressed and resolved favorably.***

During the last several years, U.S.-listed companies that have substantially all of their operations in China have been the subject of intense scrutiny by investors, financial commentators, and regulatory agencies. Much of the scrutiny has centered on financial and accounting irregularities and mistakes, lack of effective internal controls over financial reporting, and, in many cases, allegations of fraud. As a result of the scrutiny, the stocks of many U.S.-listed Chinese companies that have been the subject of such scrutiny have sharply decreased in value. Many of these companies are now subject to shareholder lawsuits and/or SEC enforcement actions that are conducting internal and/or external investigations into the allegations.

If we become the subject of any such scrutiny, whether any allegations are true or not, we may have to expend significant resources to investigate such allegations and/or defend the Company. Such investigations or allegations would be costly and time-consuming and likely would distract our management from our normal business and could result in our reputation being harmed. Our stock price could decline because of such allegations, even if the allegations are false.

#### It may be difficult for overseas and / or regulators to conduct investigations or collect evidence within the territory of China, including Hong Kong.
Shareholder claims or regulatory investigations that are common in the United States generally are difficult to pursue as a matter of law or practicality in China. For example, in China, there are significant legal and other obstacles to providing the information needed for regulatory investigations or litigation initiated outside China. Although the authorities in China may establish a regulatory cooperation mechanism with the securities regulatory authorities of another country or region to implement cross-border supervision and administration, such cooperation with the securities regulatory authorities in the United States may not be efficient in the absence of a mutual and practicable cooperation mechanism. Furthermore, according to Article 177 of the PRC Securities Law, or Article 177, which became effective in March 2020, no overseas securities regulator is allowed to directly conduct investigations or evidence collection activities within Mainland China. While the detailed interpretation of or implementation rules

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under Article 177 have yet to be promulgated, the inability of an overseas securities regulator to directly conduct investigations or evidence collection activities within Mainland China may further increase the difficulties faced by you in protecting your interests.

In the event that U.S. regulators carry out an investigation on us and there is a need to conduct such investigation or collect evidence in Mainland China, U.S. regulators may not be able to carry out such investigation or evidence collection directly in Mainland China under the PRC laws. U.S. regulators may, in the future, consider cross-border cooperation with a securities regulatory authority of the PRC by way of judicial assistance, diplomatic channels or regulatory cooperation mechanisms established with the securities regulatory authority of the PRC.

All our operations are currently conducted in Hong Kong. Hong Kong has a legal system separate from Mainland China. Our Hong Kong counsel Bird & Bird advised that the Securities and Futures Commission of Hong Kong ("SFC") is a signatory to the International Organisation of Securities Commissions Multilateral Memorandum of Understanding ("MMOU"), which provides for mutual investigatory and other assistance and exchange of information between securities regulators around the world, including the SEC. This is also reflected in section 186 of the Securities and Futures Ordinance ("SFO"), which empowers the SFC to exercise its investigatory powers to obtain information and documents requested by non-Hong Kong regulators, and section 378 of the SFO, which allows the SFC to share confidential information and documents in its possession with such regulators. However, there is no assurance that such cooperation will materialize, or if it does, whether it will adequately address any efforts to investigate or collect evidence to the extent that that U.S. regulators may seek.

#### Risks Related to Our Ordinary Shares and This Offering
***There has been no public market for our Ordinary Shares prior to this Offering, and you may not be able to resell our Ordinary Shares at or above the price you paid or at all.***

Prior to this Offering, there has been no public market for our Ordinary Shares. Although we have applied to list our Ordinary Shares on the Nasdaq Capital Market, we cannot assure you that a liquid public market for our Ordinary Shares will develop. If an active public market for our Ordinary Shares does not develop following the completion of this Offering, the market price of our Ordinary Shares may decline, and the liquidity of our Ordinary Shares may decrease significantly.

The initial public offering price for our Ordinary Shares will be determined by negotiation between us and the underwriters and may vary from the market price of our Ordinary Shares following our initial public offering. We cannot assure you that the price at which the Ordinary Shares are traded after this Offering will not decline below the initial public offering price. If you purchase our Ordinary Shares in our initial public offering, you may not be able to resell those shares at or above the initial public offering price. We cannot assure you that the initial public offering price of our Ordinary Shares, or the market price following our initial public offering, will equal or exceed prices in privately negotiated transactions of our shares that have occurred from time to time prior to our initial public offering. As a result, investors in our Ordinary Shares may experience a significant decrease in the value of their Ordinary Shares due to insufficient or a lack of market liquidity of our Ordinary Shares.

***Our Ordinary Shares are expected to initially trade under $5.00 per share and thus would be known as a "penny stock." Trading in penny stocks has certain restrictions, and these restrictions could negatively affect the price and liquidity of our Ordinary Shares.***

Our Ordinary Shares are expected to initially trade below $5.00 per share. As a result, our Ordinary Shares would be known as a "penny stock," which is subject to various regulations involving disclosures to be given to you prior to the purchase of any penny stock. The SEC has adopted regulations that generally define a "penny stock" to be any equity security that has a market price of less than $5.00 per share, subject to certain exceptions. Depending on market fluctuations, our Ordinary Shares could be considered to be "penny stock." A penny stock is subject to rules that impose additional sales practice requirements on brokers/dealers who sell these securities to persons other than established Members and accredited investors. For transactions covered by these rules, the broker/dealer must make a special suitability determination for the purchase of these securities. In addition, a broker/dealer must receive the purchaser's written consent to the transaction prior to the purchase and must also provide certain written disclosures to the purchaser. Consequently, the "penny stock" rules may restrict the ability of brokers/dealers to sell our Shares, and they may negatively affect the ability of holders of our Shares to resell them. These disclosures require you to

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acknowledge that you understand the risks associated with buying penny stocks and that you can absorb the loss of your entire investment. Penny stocks generally do not have a very high trading volume. Consequently, the price of the stock is often volatile, and you may not be able to buy or sell the stock at any time.

***Our Ordinary Shares may be prohibited from being traded on a national exchange under the Holding Foreign Companies Accountable Act if the PCAOB is unable to inspect our auditors. The delisting of our Ordinary Shares, or the threat of their being delisted, may materially and adversely affect the value of your investment. Furthermore, on June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act, which was signed into law on December 29, 2022, amending the HFCAA to require the SEC to prohibit an issuer's securities from trading on any U.S. stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three.***

The Holding Foreign Companies Accountable Act, or the HFCAA, was enacted on December 18, 2020. The HFCAA states if the SEC determines that we have filed audit reports issued by a registered public accounting firm that has not been subject to inspection by the PCAOB for three consecutive years beginning in 2021, the SEC shall prohibit our shares from being traded on a national securities exchange or in the over-the-counter trading market in the United States.

On March 24, 2021, the SEC adopted interim final rules relating to the implementation of certain disclosure and documentation requirements of the HFCAA. A company will be required to comply with these rules if the SEC identifies it as having a "non-inspection" year under a process to be subsequently established by the SEC. The SEC is assessing how to implement other requirements of the HFCAA, including the listing and trading prohibition requirements described above. Furthermore, on June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act, which was signed into law on December 29, 2022, amending the HFCAA and requiring the SEC to prohibit an issuer's securities from trading on any U.S. stock exchange if its auditor is not subject to PCAOB inspections for two consecutive years instead of three consecutive years. On September 22, 2021, the PCAOB adopted a final rule implementing the HFCAA, which provides a framework for the PCAOB to use when determining, as contemplated under the HFCAA, whether the PCAOB is unable to inspect or investigate completely registered public accounting firms located in a foreign jurisdiction because of a position taken by one or more authorities in that jurisdiction. On December 2, 2021, the SEC issued amendments to finalize rules implementing the submission and disclosure requirements in the HFCAA. The rules apply to registrants that the SEC identifies as having filed an annual report with an audit report issued by a registered public accounting firm that is located in a foreign jurisdiction and that PCAOB is unable to inspect or investigate completely because of a position taken by an authority in foreign jurisdictions. On December 16, 2021, the PCAOB issued a Determination Report, which found that the PCAOB is unable to inspect or investigate completely registered public accounting firms headquartered in (i) China and (ii) Hong Kong.

On August 26, 2022, the PCAOB announced and signed a Statement of Protocol (the "Protocol") with the CSRC and the Ministry of Finance of the PRC. The Protocol provides the PCAOB with (1) sole discretion to select the firms, audit engagements, and potential violations it inspects and investigates, without any involvement of Chinese authorities; (2) procedures for PCAOB inspectors and investigators to view complete audit work papers with all information included and for the PCAOB to retain information as needed; (3) direct access to interview and take testimony from all personnel associated with the audits the PCAOB inspects or investigates.

On December 15, 2022, the PCAOB issued a new Determination Report which: (1) vacated the December 16, 2021 Determination Report; and (2) concluded that the PCAOB has been able to conduct inspections and investigations completely in the PRC in 2022. The December 15, 2022 Determination Report cautions, however, that authorities in the PRC might take positions at any time that would prevent the PCAOB from continuing to inspect or investigate completely. As required by the HFCAA, if in the future the PCAOB determines it can no longer inspect or investigate completely because of a position taken by an authority in the PRC, the PCAOB will act expeditiously to consider whether it should issue a new determination.

Our auditor, TAAD LLP, the independent registered public accounting firm that issues the audit report included elsewhere in this prospectus, as a firm headquartered in California and registered with the PCAOB, is subject to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess our auditor's compliance with the applicable professional standards with the last inspection in 2024, and as of the date of this prospectus, our auditor is not subject to and not affected by to the PCAOB's December 2021 Determination Report. However, in the event it is later determined that the PCAOB is unable to inspect or investigate the auditor completely because of a

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position taken by an authority in a foreign jurisdiction, such as the PRC authorities, then such lack of inspection could cause trading in the Company's securities to be prohibited under the HFCAA, and ultimately result in a determination by a securities exchange to delist the Company's securities.

The SEC may propose additional rules or guidance that could impact us if our auditor is not subject to PCAOB inspection. For example, on August 6, 2020, the President's Working Group on Financial Markets, or the PWG, issued the Report on Protecting United States Investors from Significant Risks from Chinese Companies to the then President of the United States. This report recommended the SEC implement five recommendations to address companies from jurisdictions that do not provide the PCAOB with sufficient access to fulfill its statutory mandate. Some of the concepts of these recommendations were implemented with the enactment of the HFCAA. However, some of the recommendations were more stringent than the HFCAA. For example, if a company's auditor was not subject to PCAOB inspection, the report recommended that the transition period before a company would be delisted would end on January 1, 2022. The SEC has announced that the SEC staff is preparing a consolidated proposal for the rules regarding the implementation of the HFCAA and to address the recommendations in the PWG report. It is unclear when the SEC will complete its rulemaking and when such rules will become effective and what, if any, of the PWG recommendations will be adopted. The implications of this possible regulation in addition to the requirements of the HFCAA are uncertain. Such uncertainty could cause the market price of our Ordinary Shares to be materially and adversely affected, and our securities could be delisted or prohibited from being traded on the national securities exchange earlier than would be required by the HFCAA. If our Ordinary Shares are unable to be listed on another securities exchange by then, such a delisting would substantially impair your ability to sell or purchase our Ordinary Shares when you wish to do so, and the risk and uncertainty associated with a potential delisting would have a negative impact on the price of our Ordinary Shares.

Further, new laws and regulations or changes in laws and regulations in both the United States and the PRC could affect our ability to list our Ordinary Shares, which could materially impair the market for and market price of our Ordinary Shares.

***Nasdaq may apply additional and more stringent criteria for our initial and continued listing because we plan to have a small public offering and our insiders will hold a large portion of our listed securities.***

Nasdaq Listing Rule 5101 provides Nasdaq with broad discretionary authority over the initial and continued listing of securities in Nasdaq and Nasdaq may use such discretion to deny initial listing, apply additional or more stringent criteria for the initial or continued listing of particular securities, or suspend or delist particular securities based on any event, condition, or circumstance that exists or occurs that makes initial or continued listing of the securities on Nasdaq inadvisable or unwarranted in the opinion of Nasdaq, even though the securities may meet all enumerated criteria for initial or continued listing on Nasdaq. In addition, Nasdaq has used its discretion to deny initial or continued listing or to apply additional and more stringent criteria in the instances, including, but not limited to (i) where the company engaged an auditor that has not been subject to an inspection by PCAOB, an auditor that PCAOB cannot inspect, or an auditor that has not demonstrated sufficient resources, geographic reach, or experience to adequately perform the company's audit; (ii) where the company planned a small public offering, which would result in insiders holding a large portion of the company's listed securities, and Nasdaq had concerns that the offering size was insufficient to establish the company's initial valuation, and there would not be sufficient liquidity to support a public market for the company; and (iii) where the company did not demonstrate sufficient nexus to the U.S. capital market, including having no U.S. shareholders, operations, or members of the board of directors or management. Our initial public offering will be relatively small. We estimate that there should be about 13.79% of the total issued capital in public hands after the listing, and the insiders of our Company will still hold a large portion of the Company's listed securities following the consummation of the Offering, assuming the underwriter does not exercise its over-allotment option and the initial public offering price is $4.50 per share, which is the midpoint of the price range set forth on the cover page of this prospectus. Therefore, we may be subject to the additional and more stringent criteria of Nasdaq for our initial and continued listing, which might cause delay or even denial of our listing application.

***We may experience extreme stock price volatility unrelated to our actual or expected operating performance, financial condition, or prospects, making it difficult for prospective investors to assess the rapidly changing value of our Ordinary Shares.***

The trading prices of our Ordinary Shares are likely to be highly volatile and could fluctuate widely due to factors beyond our control. This may happen due to broad market and industry factors, such as performance and fluctuation in the market prices or underperformance or deteriorating financial results of other listed companies based in Hong Kong and China. The securities of some of these companies have experienced significant volatility since their initial public

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offerings, including, in some cases, substantial price declines in the trading prices of their securities. The trading performances of other Hong Kong and Chinese companies' securities after their offerings may affect the attitudes of investors towards Hong Kong-based U.S.–listed companies, which consequently may affect the trading performance of our Ordinary Shares, regardless of our actual operating performance. In addition, any negative news or perceptions about inadequate corporate governance practices or fraudulent accounting, corporate structure or matters of other Hong Kong and Mainland Chinese companies may also negatively affect the attitudes of investors towards Hong Kong and Mainland Chinese companies in general, including us, regardless of whether we have conducted any inappropriate activities. Furthermore, securities markets may, from time-to-time experience significant price and volume fluctuations that are not related to our operating performance, which may have a material and adverse effect on the trading price of our Ordinary Shares.

In addition to the above factors, the price and trading volume of our Ordinary Shares may be highly volatile due to multiple factors, including the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• regulatory developments affecting us or our industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• variations in our revenues, profit, and cash flow;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the general market reactions and financial market fluctuation due to the continuous Russo-Ukraine conflicts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• new product and service introductions by our competitors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• technical difficulties, defects, or interruptions in our service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• general economic, political, and social conditions in Hong Kong that may adversely affect either our existing customers' ability or willingness to renew their subscription, purchase additional subscriptions or upgrade their service, delay a prospective customer's purchasing decision, or reduce the value of new subscription;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actual or anticipated fluctuations in our results of operations and changes or revisions of our expected results;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• fluctuations of exchange rates among Hong Kong dollar, Renminbi, and the U.S. dollar;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in financial estimates by securities research analysts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• detrimental negative publicity about us, our services, our officers, directors, controlling shareholder, other beneficial owners, professional parties we partner with, or our industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• announcements by us or our competitors of new service offerings, acquisitions, strategic relationships, joint ventures, capital raisings or capital commitments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• additions to or departures of our senior management;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• litigation or regulatory proceedings involving us, our officers, directors, or controlling shareholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• release or expiry of lock-up or other transfer restrictions on our outstanding Ordinary Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• sales or perceived potential sales of additional Ordinary Shares.

Many of these factors are outside of our control, and any of these factors may result in large and sudden changes in the volume and price at which our Ordinary Shares will trade.

Recently, there have been instances of extreme stock price run-ups followed by rapid price declines and strong stock price volatility with a number of recent initial public offerings, especially among companies with relatively smaller public floats. As a small-capitalization company with a small public float, we may experience greater stock price volatility, extreme price run-ups, lower trading volume and less liquidity than large-capitalization companies. In particular, our Ordinary Shares may be subject to rapid and substantial price volatility, low volumes of trades and large spreads in bid and ask prices. Such volatility, including any stock-run up, may be unrelated to our actual or expected operating performance, financial condition or prospects, making it difficult for prospective investors to assess the rapidly changing value of our Ordinary Shares.

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In addition, if the trading volumes of our Ordinary Shares are low, persons buying or selling in relatively small quantities may easily influence prices of our Ordinary Shares. This low volume of trades could also cause the price of our Ordinary Shares to fluctuate greatly, with large percentage changes in prices occurring in any trading day session. Holders of our Ordinary Shares may also have difficult liquidating their investment or may be forced to sell at depressed prices due to low volume trading. Broad market fluctuations and general economic and political conditions may also adversely affect the market price of our Ordinary Shares. As a result of this volatility, investors may experience losses on their investment in our Ordinary Shares. A decline in the market price of our Ordinary Shares also could adversely affect our ability to issue additional shares of Ordinary Shares or other securities and our ability to obtain additional financing in the future. No assurance can be given that an active market in our Ordinary Shares will develop or be sustained. If an active market does not develop, holders of our Ordinary Shares may be unable to readily sell the shares they hold or sell their shares at all.

#### Volatility in our Ordinary Shares price may subject us to securities litigation.
The market for our Ordinary Shares may have, when compared to seasoned issuers, significant price volatility and we expect that our share price may continue to be more volatile than that of a seasoned issuer for the indefinite future. In the past, plaintiffs have often initiated securities class action litigation against a company following periods of volatility in the market price of its securities. We may, in the future, be the target of similar litigation. Securities litigation could result in substantial costs and liabilities and could divert management's attention and resources.

***The initial public offering price for our Ordinary Shares may not be indicative of prices that will prevail in the trading market, and such market prices may be volatile.***

The initial public offering price does not bear any relationship to our earnings, book value or any other indicia of value. We cannot assure you that the market price of our Ordinary Shares will not decline significantly below the initial public offering price. The financial markets in the United States and other countries have experienced significant price and volume fluctuations in the last few years. Volatility in the price of our Ordinary Shares may be caused by factors outside of our control and may be unrelated or disproportionate to changes in our results of operations.

***We rely on dividends and other distributions on equity paid by our subsidiaries to fund any cash and financing requirements we may have. In the future, funds may not be available to fund operations or for other uses outside of Hong Kong, due to interventions in, or the imposition of restrictions and limitations on, our ability or our Hong Kong subsidiaries by the PRC government to transfer cash. Any limitation on the ability of our subsidiaries to make payments to us could have a material adverse effect on our ability to conduct our business and might materially decrease the value of Ordinary Shares or cause them to be worthless.***

Idea Tech Cayman is a holding company, and we rely on dividends and other distributions on equity paid by our Hong Kong subsidiaries for our cash and financing requirements, including the funds necessary to pay dividends and other cash distributions to our shareholders and to service any debt we may incur. We do not expect to pay cash dividends in the foreseeable future. We anticipate that we will retain any earnings to support operations and finance the growth and development of our business. If any of our subsidiaries incur debt on its own behalf in the future, the instruments governing the debt may restrict its ability to pay dividends or make other distributions to us. See "*Dividend Policy*" for more information.

According to the Companies Ordinance of Hong Kong, a Hong Kong company may only make a distribution out of profits available for distribution. Under the current practice of the Inland Revenue Department of Hong Kong, no tax is payable in Hong Kong in respect to dividends paid by us. The PRC laws and regulations do not currently have any material impact on transfers of cash from Idea Tech Cayman to Ask Idea or from Ask Idea to Idea Tech Cayman, our shareholders and U.S. investors. However, the Chinese government may, in the future, impose restrictions or limitations on our ability to transfer money out of Hong Kong, to distribute earnings and pay dividends to and from the other entities within our organization, or to reinvest in our business outside of Hong Kong. Such restrictions and limitations, if imposed in the future, may delay or hinder the expansion of our business to outside of Hong Kong and may affect our ability to receive funds from our operating subsidiary in Hong Kong. The promulgation of new laws or regulations, or the new interpretation of existing laws and regulations, in each case, that restrict or otherwise unfavorably impact the ability or way we conduct our business, could require us to change certain aspects of our business to ensure compliance, which could decrease demand for our services, reduce revenues, increase costs, require us to obtain more licenses, permits, approvals or certificates, or subject us to additional liabilities. To the extent any

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new or more stringent measures are required to be implemented, our business, financial condition, and results of operations could be adversely affected, and such measures could materially decrease the value of our Ordinary Shares, potentially rendering them worthless. Further, any limitation on the ability of our subsidiaries to pay dividends or make other distributions to us could materially and adversely limit our ability to grow, make investments or acquisitions that could be beneficial to our business, pay dividends, or otherwise fund and conduct our business.

#### You will experience immediate and substantial dilution in the net tangible book value of Ordinary Shares purchased.
The Offering Price of our Ordinary Shares is substantially higher than the (pro forma) net tangible book value per share of our Ordinary Shares. Consequently, when you purchase our Ordinary Shares in the Offering and upon completion of the Offering, you will incur immediate dilution of $3.20 per share, assuming an Offering Price of US$4.50, which is the midpoint of the price range as set forth on the cover page of this prospectus, assuming the underwriter does not exercise its over-allotment option and the initial public offering price is $4.50 per share, which is the midpoint of the price range set forth on the cover page of this prospectus. See "*Dilution.*" In addition, you may experience further dilution to the extent that additional Ordinary Shares are issued upon the exercise of outstanding options we may grant from time to time.

***Substantial future sales of our Ordinary Shares or the anticipation of future sales of our Ordinary Shares in the public market could cause the price of our Ordinary Shares to decline.***

Sales of substantial amounts of our Ordinary Shares in the public market after this Offering, or the perception that these sales could occur, could cause the market price of our Ordinary Shares to decline. An aggregate of 12,500,000 Ordinary Shares are issued and outstanding before the consummation of this Offering, and 14,500,000 Ordinary Shares will be issued and outstanding immediately after the consummation of this Offering, assuming the Representative's over-allotment option is not exercised. Sales of these shares into the market could cause the market price of our Ordinary Shares to decline.

***Because the amount, timing, and whether or not we distribute dividends at all is entirely at the discretion of our board of directors, you must rely on the price appreciation of our Ordinary Shares for returns on your investment.***

Our board of directors has complete discretion as to whether to distribute dividends. In addition, our shareholders may, by ordinary resolution, declare a dividend, but no dividend may exceed the amount recommended by our board of directors. In either case, all dividends are subject to certain restrictions under the Cayman Islands law, namely, the Company may only pay dividends if we are solvent immediately after the dividend payment in the sense that the value of our assets will exceed our liabilities and we will be able to pay our debts as they become due.

We currently intend to retain all remaining funds and future earnings, if any, for the operation and expansion of our business and do not anticipate declaring or paying any further dividends in the foreseeable future. Any future determination related to our dividend policy will be made at the discretion of our board of directors after considering our financial condition, results of operations, capital requirements, contractual requirements, business prospects and other factors the board of directors deems relevant and will be subject to the restrictions contained in any future financing instruments.

Even if our board of directors decides to declare and pay dividends, the timing, amount and form of future dividends, if any, will depend on, among other things, our future results of operations and cash flow, our capital requirements and surplus, the amount of distributions, if any, received by us from our subsidiaries, our financial condition, contractual restrictions and other factors deemed relevant by our board of directors. Accordingly, the return on your investment in our Ordinary Shares will likely depend entirely upon any future price appreciation of our Ordinary Shares. We cannot assure you that our Ordinary Shares will appreciate in value after this Offering or even maintain the price at which you purchased the Ordinary Shares. You may not realize a return on your investment in our Ordinary Shares, and you may even lose your entire investment in our Ordinary Shares. See "*Dividend Policy*" section for more information.

***If securities or industry analysts do not publish or publish inaccurate or unfavorable research about our business, or if they adversely change their recommendations regarding our Ordinary Shares, the market price for our Ordinary Shares and trading volume could decline.***

The trading market for our Ordinary Shares will depend in part on the research and reports that securities or industry analysts publish about us or our business. If research analysts do not establish and maintain adequate research coverage or if one or more analysts who cover us downgrade our Ordinary Shares or publish inaccurate or unfavorable research

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about our business, the market price for our Ordinary Shares would likely decline. If one or more of these analysts cease coverage of the Company or fail to publish reports on us regularly, we could lose visibility in the financial markets, which, in turn, could cause the market price or trading volume for our Ordinary Shares to decline.

***We are a foreign private issuer within the meaning of the rules under the Exchange Act, and as such, we are exempt from certain provisions applicable to U.S. domestic public companies.***

Because we qualify as a foreign private issuer under the Exchange Act, we are exempt from certain provisions of the securities rules and regulations in the United States that are applicable to U.S. domestic issuers, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q or current reports on Form 8-K;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the sections of the Exchange Act regulating the solicitation of proxies, consents, or authorizations in respect of a security registered under the Exchange Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the sections of the Exchange Act requiring insiders to file public reports of their stock ownership and trading activities and liability for insiders who profit from trades made in a short period of time; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the selective disclosure rules by issuers of material nonpublic information under Regulation FD.

We will be required to file an annual report on Form 20-F within four months of the end of each fiscal year. In addition, we intend to publish our results on a semi-annual basis as press releases, distributed pursuant to the rules and regulations of the Nasdaq Capital Market. Press releases relating to financial results and material events will also be furnished to the SEC on Form 6-K. However, the information we are required to file with or furnish to the SEC will be less extensive and less timely compared to that required to be filed with the SEC by U.S. domestic issuers. As a result, you may not be afforded the same protections or information that would be made available to you were you investing in a U.S. domestic issuer.

***As a foreign private issuer, we are permitted to adopt certain home country practices in relation to corporate governance matters that differ significantly from Nasdaq corporate governance listing standards. These practices may afford less protection to shareholders than they would enjoy if we complied fully with corporate governance listing standards.***

As a foreign private issuer, we are permitted to take advantage of certain provisions in the Nasdaq rules that allow us to follow our home country law for certain governance matters. Certain corporate governance practices in our home country, the Cayman Islands, may differ significantly from corporate governance listing standards. Currently, we do not plan to rely on home country practices with respect to our corporate governance before we complete this Offering. However, if we chose to follow home country practices in the future, our shareholders may be afforded less protection than they would otherwise enjoy under the Nasdaq corporate governance listing standards applicable to U.S. domestic issuers.

#### We may lose our foreign private issuer status in the future, which could result in significant additional costs and expenses.
We are a foreign private issuer, and therefore, we are not required to comply with all of the periodic disclosure and current reporting requirements of the Exchange Act. The determination of foreign private issuer status is made annually on the last business day of an issuer's most recently completed second fiscal quarter. We would lose our foreign private issuer status if, for example, more than 50% of our Ordinary Shares are directly or indirectly held by residents of the United States and we fail to meet additional requirements necessary to maintain our foreign private issuer status. If we lose our foreign private issuer status on this date, we will be required to file with the SEC periodic reports and registration statements on U.S. domestic issuer forms, which are more detailed and extensive than the forms available to a foreign private issuer. We will also have to mandatorily comply with U.S. federal proxy requirements, and our officers, directors and principal shareholders will become subject to the short-swing profit disclosure and recovery provisions of Section 16 of the Exchange Act. In addition, we will lose our ability to rely upon exemptions from certain corporate governance requirements under the Nasdaq rules. As a U.S. listed public company that is not a foreign private issuer, we will incur significant additional legal, accounting and other expenses that we will not incur as a foreign private issuer, and accounting, reporting and other expenses in order to maintain a listing on a U.S. securities exchange.

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***We are an "emerging growth company" within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available to emerging growth companies, this could make it more difficult to compare our performance with other public companies*.***

We are an "emerging growth company" within the meaning of the Securities Act, as modified by the JOBS Act. Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. We have elected not to opt out of such an extended transition period, which means that when a standard is issued or revised, and it has different application dates for public or private companies, we, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make the comparison of our financial statements with another public company which is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accountant standards used.

***As an "emerging growth company" under applicable law, we will be subject to lessened disclosure requirements. Such reduced disclosure may make our Ordinary Shares less attractive to investors.***

For as long as we remain an "emerging growth company," as defined in the JOBS Act, we will elect to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging growth companies," including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Because of these lessened regulatory requirements, our shareholders would be left without information or rights available to shareholders of more mature companies. If some investors find our Ordinary Shares less attractive as a result, there may be a less active trading market for our Ordinary Shares, and our Ordinary Share price may be more volatile.

#### We will incur increased costs as a result of being a public company, particularly after we cease to qualify as an "emerging growth company."
Upon consummation of this Offering, we will incur significant legal, accounting and other expenses as a public company that we did not incur as a private company. The Sarbanes-Oxley Act of 2002, as well as rules subsequently implemented by the SEC, impose various requirements on the corporate governance practices of public companies. We are an "emerging growth company," as defined in the JOBS Act and will remain an emerging growth company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary of the completion of this Offering, (b) in which we have total annual gross revenue of at least $1.235 billion, or (c) in which we are deemed to be a large accelerated filer under the Securities Exchange Act of 1934, as amended, or the Exchange Act, which would occur if the market value of our Ordinary Shares that are held by non-affiliates exceeds US$700 million as of the last business day of our most recently completed second fiscal quarter and (2) the date on which we have issued more than $1.0 billion in non-convertible debt during the prior three-year period. An emerging growth company may take advantage of specified reduced reporting and other requirements that are otherwise applicable generally to public companies. These provisions include exemption from the auditor attestation requirement under Section 404 in the assessment of the emerging growth company's internal control over financial reporting and permission to delay adopting new or revised accounting standards until such time as those standards apply to private companies.

Compliance with these rules and regulations increases our legal and financial compliance costs and makes some corporate activities more time-consuming and costly. After we are no longer an "emerging growth company," or until five years following the completion of our initial public offering, whichever is earlier, we expect to incur significant expenses and devote substantial management effort toward ensuring compliance with the requirements of Section 404 and the other rules and regulations of the SEC. For example, as a public company, we may be required to increase the number of independent directors and adopt policies regarding internal controls and disclosure controls and procedures. We may invest in obtaining director and officer liability insurance. In addition, we may incur additional costs associated

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with our public company reporting requirements. It may also be more difficult for us to find qualified persons to serve on our board of directors or as executive officers. We are currently evaluating and monitoring developments with respect to these rules and regulations, and we cannot predict or estimate with any degree of certainty the amount of additional costs we may incur or the timing of such costs.

***If we cannot satisfy, or continue to satisfy, the initial listing requirements and other rules of the Nasdaq Capital Market, although we are exempt from certain corporate governance standards applicable to US issuers as a Foreign Private Issuer, our Ordinary Shares may not be listed or may be delisted, which could negatively impact the price of our Ordinary Shares and your ability to sell them.***

We will seek to have our Ordinary Shares approved for listing on the Nasdaq Capital Market upon consummation of this Offering. However, we cannot assure you that we will be able to meet those initial listing requirements at that time. Even if our Ordinary Shares are listed on the Nasdaq Capital Market, we cannot assure you that our Ordinary Shares will continue to be listed on the Nasdaq Capital Market.

In addition, following this Offering, in order to maintain our listing on the Nasdaq Capital Market, we will be required to comply with certain rules of the Nasdaq Capital Market, including those regarding minimum shareholders' equity, minimum share price and certain corporate governance requirements. Even if we initially meet the listing requirements and other applicable rules of the Nasdaq Capital Market, we may not be able to continue to satisfy these requirements and applicable rules. If we are unable to satisfy the Nasdaq Capital Market criteria for maintaining our listing, our Ordinary Shares could be subject to delisting.

If the Nasdaq Capital Market delists our Ordinary Shares from trading, we could face significant consequences, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a limited availability for market quotations for our Ordinary Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reduced liquidity with respect to our Ordinary Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a determination that our Ordinary Share is a "penny stock," which will require brokers trading in our Ordinary Shares to adhere to more stringent rules and possibly result in a reduced level of trading activity in the secondary trading market for our Ordinary Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• limited amount of news and analyst coverage; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a decreased ability to issue additional securities or obtain additional financing in the future.

***Because our business is conducted in Hong Kong dollars and the price of our Ordinary Shares is quoted in United States dollars, changes in currency conversion rates may affect the value of your investments.***

Our business is conducted in Hong Kong, our books and records are maintained in Hong Kong dollars, which is the currency of Hong Kong, and the financial statements that we file with the SEC and provide to our shareholders are presented in United States dollars. Changes in the exchange rate between the Hong Kong dollar and U.S. dollar affect the value of our assets and the results of our operations in United States dollars. The value of the Hong Kong dollar against the United States dollar and other currencies may fluctuate and is affected by, among other things, changes in Hong Kong's political and economic conditions and perceived changes in the economy of Hong Kong and the United States. Any significant revaluation of the Hong Kong dollar may materially and adversely affect our cash flows, revenue and financial condition. Further, as our Ordinary Shares offered by this prospectus are denominated in United States dollars, we will need to convert the net proceeds we receive into Hong Kong dollar in order to use the funds for our business. Changes in the conversion rate between the United States dollar and the Hong Kong dollar will affect the amount of proceeds we will have available for our business.

#### We have broad discretion in the use of the net proceeds from this Offering and may not use them effectively.
Our management will have broad discretion in the application of the net proceeds, including for any of the purposes described in the section entitled "Use of Proceeds," and you will not have the opportunity as part of your investment decision to assess whether the net proceeds are being used appropriately. Because of the number and variability of factors that will determine our use of the net proceeds from this Offering, their ultimate use may vary substantially from their currently intended use. The failure by our management to apply these funds effectively could harm our business.

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#### Our disclosure controls and procedures may not prevent or detect all errors or acts of fraud.
Upon the closing of this offering, we will become subject to the periodic reporting requirements of the Exchange Act. We will design our disclosure controls and procedures to provide reasonable assurance that information we must disclose in reports we file or submit under the Exchange Act is accumulated and communicated to management, and recorded, processed, summarized, and reported within the time periods specified in the rules and forms of the SEC. We believe that any disclosure controls and procedures, no matter how well-conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met.

These inherent limitations include the realities that judgments in decision-making can be faulty and that breakdowns can occur because of simple errors or mistakes. Additionally, controls can be circumvented by the individual acts of a person, by collusion of two or more people or by an unauthorized override of the controls. Accordingly, because of the inherent limitations in our control system, misstatements due to error or fraud may occur and not be detected.

#### We do not intend to pay dividends for the foreseeable future.
We currently intend to retain any future earnings to finance the operation and expansion of our business, and we do not expect to declare or pay any dividends in the foreseeable future. As a result, you may only receive a return on your investment in our Ordinary Shares if the market price of our Ordinary Shares increases. Our board of directors has complete discretion as to whether to distribute dividends, subject to certain requirements of Cayman Islands law. In addition, our shareholders may by ordinary resolution, declare a dividend, but no dividend may exceed the amount recommended by our directors.

***Our existing shareholders that are not included in this registration statement will be able to sell their Ordinary Shares after completion of this Offering subject to restrictions under the Rule 144.***

Our existing shareholders may be able to sell their Ordinary Shares under Rule 144 after completion of this Offering. Because these shareholders have paid a lower price per Ordinary Share than participants in this Offering, when they are able to sell their pre-offering shares under Rule 144, they may be more willing to accept a lower sales price than the Offering price. This fact could impact the trading price of our Ordinary Shares following the completion of the Offering, to the detriment of participants in this Offering. Under rule 144, before our existing shareholders can sell their Ordinary Shares, in addition to meeting other requirements, they must meet the required holding period. We do not expect any of such Ordinary Shares to be sold pursuant to Rule 144 during the pendency of this Offering.

***There can be no assurance that we will not be deemed a passive foreign investment company, or PFIC, for U.S. federal income tax purposes for any taxable year, which could result in adverse U.S. federal income tax consequences to U.S. holders of our ordinary shares.***

A non-U.S. corporation will be a PFIC for any taxable year if either (1) at least 75% of its gross income for such year consists of certain types of "passive" income; or (2) at least 50% of the value of its assets (based on an average of the quarterly values of the assets) during such year is attributable to assets that produce passive income or are held for the production of passive income, or the asset test. Based on our current and expected income and assets (taking into account the expected cash proceeds and our anticipated market capitalization following this Offering), we do not presently expect to be a PFIC for the current taxable year or the foreseeable future. However, no assurance can be given in this regard because the determination of whether we are or will become a PFIC is a fact-intensive inquiry made on an annual basis that depends, in part, upon the composition of our income and assets. In addition, there can be no assurance that the Internal Revenue Service, or IRS, will agree with our conclusion or that the IRS would not successfully challenge our position. Fluctuations in the market price of our Ordinary Shares may cause us to become a PFIC for the current or subsequent taxable years because the value of our assets for the purpose of the asset test may be determined by reference to the market price of our Ordinary Shares. The composition of our income and assets may also be affected by how and how quickly we use our liquid assets and the cash raised in this Offering. If we were to be or become a PFIC for any taxable year during which a U.S. Holder holds our Ordinary Shares, certain adverse U.S. federal income tax consequences could apply to such U.S. Holder and such U.S. Holder may be subject to additional reporting requirements. For a more detailed discussion of the application of the PFIC rules to us and the consequences to U.S. taxpayers if we were or are determined to be a PFIC, see "*Taxation — Passive Foreign Investment Company ("PFIC")*."

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***Our lack of effective internal controls over financial reporting may affect our ability to accurately report our financial results or prevent fraud which may affect the market for and price of our Ordinary Share.***

To implement Section 404 of the Sarbanes-Oxley Act of 2002, the SEC adopted rules requiring public companies to include a report of management on the company's internal control over financial reporting. Prior to filing the registration statement of which this prospectus is a part, we were a private company with limited accounting personnel and other resources for addressing our internal control over financial reporting. Our management has not completed an assessment of the effectiveness of our internal control over financial reporting and our independent registered public accounting firm has not conducted an audit of our internal control over financial reporting. Our independent registered public accounting firm did not conduct an audit of our internal control over financial reporting. However, in connection with the audits of our consolidated financial statements as of June 30, 2024 and 2023, we and our independent registered public accounting firm identified a few material weaknesses in our internal control over financial reporting PCAOB of the United States, a "material weakness" is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis. The material weaknesses identified related to (1) our lack of sufficient full-time personnel with appropriate levels of accounting knowledge and experience to monitor the daily recording of transactions, address complex U.S. GAAP accounting issues and to prepare and review financial statements and related disclosures under U.S. GAAP; (2) our lack of a functional internal audit department or personnel that monitors the consistencies of the preventive internal control procedures as well as adequate policies and procedures in internal audit function to ensure that our policies and procedures have been carried out as planned; (3) our lack of proper procedures developed and implemented for system security and access as well as segregation of duties in relation to the system; (4) our lack of proper procedures developed for system development, program change management policies and critical change management control processes and procedures; and (5) our lack of proper procedures developed and implemented for IT policy and procedure as well as operating system security management control.

We intend to implement measures designed to improve our internal control over financial reporting to address the underlying causes of these material weaknesses, including i) hiring more qualified staff to fill up the key roles in the operations; ii) setting up a financial and system control framework with formal documentation of policies and controls in place; and iii) appointing independent directors, establishing an audit committee and strengthening corporate governance.

We will be subject to the requirement that we maintain internal controls and that management perform periodic evaluations of the effectiveness of the internal controls. Effective internal control over financial reporting is important to prevent fraud. As a result, our business, financial condition, results of operations and prospects, as well as the market for and trading price of our Ordinary Shares, may be materially and adversely affected if we do not have effective internal controls. Before this Offering, we were a private company with limited resources. As a result, we may not discover any problems in a timely manner and current and potential shareholders could lose confidence in our financial reporting, which would harm our business and the trading price of our Ordinary Shares. The absence of internal controls over financial reporting may inhibit investors from purchasing our Ordinary Shares and may make it more difficult for us to raise funds in debt or equity financing.

Additional material weaknesses or significant deficiencies may be identified in the future. If we identify such issues or if we are unable to produce accurate and timely financial statements, our Ordinary Share price may decline, and we may be unable to maintain compliance with the Nasdaq Listing Rules.

***Securities analysts may not publish favorable research or reports about our business or may publish no information at all, which could cause our Ordinary Share price or trading volume to decline.***

If a trading market for our shares develops, the trading market will be influenced to some extent by the research and reports that industry or financial analysts publish about us and our business. We do not control these analysts. As a new public company, we may be slow to attract research coverage and the analysts who publish information about our Ordinary Shares will have had relatively little experience with us or our industry, which could affect their ability to accurately forecast our results and could make it more likely that we fail to meet their estimates. In the event we obtain securities or industry analyst coverage, if any of the analysts who cover us provide inaccurate or unfavorable research or issue an adverse opinion regarding our share price, our share price could decline. If one or more of these analysts cease coverage of us or fail to publish reports covering us regularly, we could lose visibility in the market, which in turn could cause our share price or trading volume to decline and result in the loss of all or a part of your investment in us.

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#### It may be difficult for overseas shareholders and / or regulators to conduct investigations or collect evidence within the territory of China, including Hong Kong.
Shareholder claims or regulatory investigations that are common in the United States generally are difficult to pursue as a matter of law or practicality in China. For example, in China, there are significant legal and other obstacles to providing the information needed for regulatory investigations or litigation initiated outside China. Although the authorities in China may establish a regulatory cooperation mechanism with the securities regulatory authorities of another country or region to implement cross-border supervision and administration, such cooperation with the securities regulatory authorities in the Unities States may not be efficient in the absence of a mutual and practical cooperation mechanism. Furthermore, according to Article 177 of the PRC Securities Law, or Article 177, which became effective in March 2020, no overseas securities regulator is allowed to directly conduct investigations or evidence collection activities within the territory of Mainland China. While the detailed interpretation of or implementation rules under Article 177 have yet to be promulgated, the inability of an overseas securities regulator to directly conduct investigations or evidence collection activities within Mainland China may further increase difficulties faced by you in protecting your interests.

Our principal business operation is conducted in Hong Kong. In the event that the U.S. regulators carry out an investigation on us and there is a need to conduct such investigation or collect evidence within the territory of the PRC, the U.S. regulators may not be able to carry out such investigation or evidence collection directly in the PRC under the PRC laws. The U.S. regulators may, in the future, consider cross-border cooperation with a securities regulatory authority of the PRC by way of judicial assistance, diplomatic channels or regulatory cooperation mechanisms established with the securities regulatory authority of the PRC. Additionally, our Hong Kong counsel Bird & Bird advised that the Securities and Futures Commission of Hong Kong ("SFC") is a signatory to the International Organization of Securities Commissions Multilateral Memorandum of Understanding ("MMOU"), which provides for mutual investigatory and other assistance and exchange of information between securities regulators around the world, including the SEC. This is also reflected in section 186 of the Securities and Futures Ordinance ("SFO"), which empowers the SFC to exercise its investigatory powers to obtain information and documents requested by non-Hong Kong regulators, and section 378 of the SFO, which allows the SFC to share confidential information and documents in its possession with such regulators. However, there is no assurance that such cooperation will materialize, or if it does, whether it will adequately address any efforts to investigate or collect evidence to the extent that may be sought by U.S. regulators.

***The enforcement of foreign civil liabilities in the Cayman Islands and Hong Kong is subject to certain conditions. Therefore, certain judgments obtained against us by our shareholders may be difficult to enforce in such jurisdictions*.***

We are an exempted company incorporated under the laws of the Cayman Islands. We conduct our operations outside the United States and substantially all of our assets are located outside the United States. In addition, all of our directors and officers are Hong Kong nationals or residents and a substantial portion of their assets are located in Hong Kong outside the United States. As a result, it may be difficult or impossible for you to bring an action against us or against them in the United States in the event that you believe that your rights have been infringed under the U.S. federal securities laws or otherwise. Even if you are successful in bringing an action of this kind, the laws of the Cayman Islands, Hong Kong, or other relevant jurisdictions may render you unable to enforce a judgment against our assets or the assets of our directors and officers.

Ogier, our counsel as to the laws of the Cayman Islands, has advised us that there is uncertainty as to whether the courts of the Cayman Islands would (i) recognize or enforce judgments of U.S. courts obtained against us or our directors or officers predicated upon the civil liability provisions of the securities laws of the United States or any state in the United States, or (ii) entertain original actions brought in the Cayman Islands against us or our directors or officers predicated upon the securities laws of the United States or any state in the United States. Ogier has informed us that there is uncertainty with regard to Cayman Islands law related to whether a judgment obtained from the U.S. courts under civil liability provisions of U.S. securities laws will be determined by the courts of the Cayman Islands as penal or punitive in nature. If such a determination is made, the courts of the Cayman Islands will not recognize or enforce the judgment against a Cayman Islands company, such as our company. As the courts of the Cayman Islands have yet to rule on making such a determination in relation to judgments obtained from U.S. courts under civil liability provisions of U.S. securities laws, it is uncertain whether such judgments would be enforceable in the Cayman Islands. Ogier has informed us that although there is no statutory enforcement in the Cayman Islands of judgments obtained in the federal or state courts of the United States (and the Cayman Islands is not a party to any treaties for the reciprocal enforcement or recognition of such judgments), the courts of the Cayman Islands will, at common law, recognize and enforce a foreign monetary judgment of a foreign court

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of competent jurisdiction without any re-examination of the merits of the underlying dispute based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the liquidated sum for which such judgment has been given, provided such judgment (a) is given by a foreign court of competent jurisdiction, (b) imposes on the judgment debtor a liability to pay a liquidated sum for which the judgment has been given, (c) is final and conclusive, (d) is not in respect of taxes, a fine or a penalty, and (e) was not obtained in a manner and is not of a kind the enforcement of which is contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). However, the Cayman Islands courts are unlikely to enforce a judgment obtained from the U.S. courts under civil liability provisions of the U.S. federal securities law if such judgment is determined by the courts of the Cayman Islands to give rise to obligations to make payments that are penal or punitive in nature. A Cayman Islands court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

Bird & Bird, our counsel with respect to Hong Kong law, has advised us that judgment of United States courts cannot be directly enforced in Hong Kong in accordance with the Foreign Judgments (Reciprocal Enforcement) Ordinance (Cap. 319) (the "Ordinance"), as the application of the Ordinance is limited to judgments entered in designated jurisdictions, which currently include: Australia, Austria, Belgium, Bermuda, Brunei, France, Germany, India, Israel, Italy, Malaysia, The Netherlands, New Zealand, Singapore and Sri Lanka. The common law permits an action to be brought upon a foreign judgment, but it is subject to various conditions including, but not limited to, that the foreign judgement must (1) be for a definite sum of money; (2) be final and conclusive; and (3) have been entered by a court with competent jurisdiction over the defendant. The defenses that are available to a defendant in a common law action brought on the basis of a foreign judgment include lack of jurisdiction, breach of natural justice, fraud, and contrary to public policy. However, a separate legal action for debt must be commenced in Hong Kong in order to recover such debt from the judgment debtor.

***You may face difficulties in protecting your interests, and your ability to protect your rights through U.S. courts may be limited, because we are incorporated under Cayman Islands law.***

We are a company incorporated under the laws of the Cayman Islands. Our corporate affairs are governed by our memorandum and articles of association (as amended from time to time), the Companies Act and the common law of the Cayman Islands. The rights of shareholders to take action against our directors, actions by our minority shareholders and the fiduciary duties of our directors to us under the Cayman Islands laws are, to a large extent, governed by the common law of the Cayman Islands. The common law of the Cayman Islands is derived in part from comparatively limited judicial precedent in the Cayman Islands as well as from the common law of England, the decisions of whose courts are of persuasive authority but are not binding, on a court in the Cayman Islands. The rights of our shareholders and the fiduciary duties of our directors under the Cayman Islands laws are not as clearly established as they would be under statutes or judicial precedent in some jurisdictions in the United States. In particular, the Cayman Islands has a less developed body of securities laws than the United States. Some U.S. states, such as Delaware, have more fully developed and judicially interpreted bodies of corporate law than the Cayman Islands. In addition, the Cayman Islands companies may not have standing to initiate a shareholder derivative action in a federal court of the United States.

Shareholders of Cayman Islands companies like us have no general rights under the Cayman Islands laws to inspect corporate records, other than the memorandum and articles of association and any special resolutions passed by such companies, and the registers of mortgages and charges of such companies. Our directors have discretion under our Amended and Restated Memorandum and Articles of Association to determine whether or not, and under what conditions, our corporate records may be inspected by our shareholders, but are not obliged to make them available to our shareholders. This may make it more difficult for you to obtain the information needed to establish any facts necessary for a shareholder motion or to solicit proxies from other shareholders in connection with a proxy contest. Certain corporate governance practices in the Cayman Islands, where our holding company was incorporated, differ significantly from requirements for companies incorporated in other jurisdictions such as the United States. Currently, we do not plan to rely on home country practice with respect to our corporate governance after we complete this offering. However, if we choose to follow the Cayman Islands' practice in the future, our shareholders may be afforded less protection than they otherwise would under rules and regulations applicable to U.S. domestic issuers.

As a result of all of the above, public shareholders may have more difficulty in protecting their interests in the face of actions taken by our management, members of our board of directors, or our controlling shareholder than they would as public shareholders of a company incorporated in the United States. For a discussion of significant differences between the provisions of the Companies Act and the laws applicable to companies incorporated in the United States and their shareholders, see "*Description of Share Capital — Differences in Corporate Law.*"

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#### DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
This prospectus contains forward-looking statements that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by the words "may," "might," "will," "could," "would," "should," "expect," "intend," "plan," "goal," "objective," "anticipate," "believe," "estimate," "predict," "potential," "continue" and "ongoing," or the negative of these terms, or other comparable terminology intended to identify statements about the future. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements and opinions contained in this prospectus are based upon information available to us as of the date of this prospectus and, while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• future financial and operating results, including revenues, income, expenditures, cash balances and other financial items;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to execute our growth, expansion and acquisition strategies, including our ability to meet our growth strategies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• current and future economic and political conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• expected changes in our revenues, costs or expenditures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expectations regarding demand for and market acceptance of our services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expectations regarding our customer base;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to obtain, maintain or procure all necessary government certifications, approvals, and/or licenses to conduct our business, and in the relevant jurisdictions in which we operate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• competition in our industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• relevant government policies and regulations relating to our industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our capital requirements and our ability to raise any additional financing which we may require;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to hire and retain qualified management personnel and key employees in order to enable us to develop our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• overall industry, economic and market performance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the spread of the COVID-19 virus and its new variants, the impact it may have on our operations, the demand for our services, and economic activity in general; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other assumptions described in this prospectus underlying or relating to any forward-looking statements.

You should refer to the section titled "Risk Factors" for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements. As a result of these factors, we cannot assure you that the forward-looking statements in this prospectus will prove to be accurate. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

You should read this prospectus and the documents that we reference in this prospectus and have filed as exhibits to the registration statement, of which this prospectus forms a part, completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements.

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#### USE OF PROCEEDS
After deducting the estimated underwriting discounts, non-accountable expense allowance and other expenses relating to this offering payable by us, we expect to receive net proceeds of approximately $7,560,000 from this offering, based on an assumed public offering price of $4.50 per Ordinary Share, assuming the Representative does not exercise its over-allotment option.

We estimate that the net proceeds of this offering together with the funds we will receive from the sale will be used as set forth in the following table.

---

| | | |
|:---|:---|:---|
|  **Description of Use** | **Estimated <br>Amount of <br>Net Proceeds <br>(assuming the <br>underwriters do <br>not exercise <br>their over-<br>allotment <br>option)<br>(US$)** | **Approximate<br>Percentage** |
|  Expanding service capacity<sup>(1)</sup> | $3477600 | 46% |
|  Marketing and branding<sup>(2)</sup> | $756000 | 10% |
|  International expansion<sup>(3)</sup> | $1360800 | 18% |
|  General working capital and corporate purposes<sup>(4)</sup> | $1965600 | 26% |
|  **Total** | $7560000  | 100% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>Expanding Service Capacity</u>

After going public, we aim to upgrade our current technologies and expanding into new hardware solutions such as drones and robots. This includes incorporating third-party hardware to enhance the learning experience by blending online and offline models.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) <u>Marking and Branding</u>

We will allocate a portion of the proceeds to broadening our customer base through targeted marketing campaigns that reach both businesses and individual consumers, parents and students in particular. This will include organizing and participating in international competitions to increase market visibility on a global level.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) <u>International Expansion</u>

A portion of net proceeds will be reserved for introducing our AI education solutions to customers in Southeast Asia and eventually the global markets by incorporating third-party tools and authoritative learning content on AI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) <u>General working capital</u>

A portion of net proceeds will be reserved for general working capital needs and use as daily operation ensuring we can manage liquidity and maintain smooth operations while expanding both nationally and internationally. The foregoing represents our current intentions based upon our present plans and business conditions to use and allocate the net proceeds of this Offering. Our management, however, will have significant flexibility and discretion to apply the net proceeds of this Offering. If an unforeseen event occurs or business conditions change, we may use the proceeds of this Offering differently than as described in this prospectus.

Pending any use described above, we plan to invest the net proceeds from the sale of Ordinary Shares in demand deposits, interest-bearing debt instruments or other financial products, for cash management purposes.

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#### DIVIDEND POLICY
An annual dividend from Ask Idea for the 12-month ended December 31, 2021 of US$504,752 was declared on August 31, 2022, of which US$51,039 and US$453,713 were paid during the years ended June 30, 2022 and 2023, respectively. An annual dividend from Ask Idea for the 12-month ended December 31, 2022 of US$1,231,842 was declared on May 15, 2023, of which US$127,611 and US$1,104,231 were paid during the years ended June 30, 2023 and 2024, respectively. An annual dividend from Ask Idea for the 12-month ended December 31, 2023 of US$640,344 was declared on June 3, 2024, which was paid between July and October 2024. We have never declared or paid any other cash dividends on our Ordinary Shares other than those mentioned above. We anticipate that we will retain any future earnings to support operations and to finance the growth and development of our business. Therefore, we do not expect to pay cash dividends in the foreseeable future.

Our board of directors has complete discretion on whether to distribute dividends, subject to applicable laws. In addition, our shareholders may by ordinary resolution declare a dividend. Under Cayman Islands law, a Cayman Islands company may pay a dividend either out of profit or share premium account, provided that in no circumstances may a dividend be paid if the dividend payment would result in the company being unable to pay its debts as they fall due in the ordinary course of business. Even if our board of directors decides to pay dividends, the form, frequency, and amount will depend upon our future operations and earnings, capital requirements and surplus, general financial condition, contractual restrictions, and other factors that the board of directors may deem relevant.

Under the current practice of the Inland Revenue Department of Hong Kong, no tax is payable in Hong Kong in respect of dividends paid by us. See "*Regulations — Regulations related to Hong Kong taxation*."

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#### CAPITALIZATION
The following table sets forth our capitalization as of December 31, 2024:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• on an actual basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• on an adjusted basis, giving effect to the issuance and sale of the Ordinary Shares by us in this Offering at the assumed initial public offering price of US$4.50 per Ordinary Share, after deducting the estimated underwriting discounts to the underwriters (assuming that all of the investors in this offering are introduced by the underwriters) and the estimated offering expenses payable by us and assuming no exercise of the Representative of its over-allotment option; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• on an adjusted basis, giving effect to the issuance and sale of the Ordinary Shares by us in this Offering at the assumed initial public offering price of US$4.50 per Ordinary Share, after deducting the estimated underwriting discounts to the underwriters (assuming that all of the investors in this offering are introduced by the underwriters) and the estimated offering expenses payable by us and assuming the Representative exercises its over-allotment option in full.

You should read this table together with our consolidated financial statements and the related notes included elsewhere in this prospectus and the information under "*Management's Discussion and Analysis of Financial Condition and Results of Operations*."

---

| | | | |
|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Actual** | **As Adjusted <br>(Over-allotment <br>option not <br>exercised)** | **As Adjusted <br>(Over-allotment <br>option <br>exercised)** |
|  | **US$** | **US$** | **US$** |
|  **Shareholders' equity:** |  |  |  |
| &nbsp;&nbsp;&nbsp; Ordinary shares, $0.0001 par value, 500,000,000 <br>Ordinary Shares authorized, 12,500,000 Ordinary Shares issued and outstanding as of December 31, 2024 | 1250 | 1450 | 1480 |
| &nbsp;&nbsp;&nbsp; Receivable from shareholders |  |  |  |
| &nbsp;&nbsp;&nbsp; Additional paid-in capital<sup>(1)</sup> | 191151 | 7750951 | 8992921 |
| &nbsp;&nbsp;&nbsp; Retained earnings | 740869 | 740869 | 740869 |
| &nbsp;&nbsp;&nbsp; Accumulated other comprehensive income | 8237 | 8237 | 8237 |
| &nbsp;&nbsp;&nbsp; Total shareholders' equity | 941507 | 8501507 | 9743507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indebtedness |  |  |  |
|  Bank borrowings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total capitalization** | **941507** | **8501507** | **9743507** |

---

____________

(1) Reflects the sale of Ordinary Shares in this offering at an assumed initial public offering price of $4.50 per share and after deducting the estimated underwriting discounts and estimated offering expenses payable by us. The pro forma as adjusted information is illustrative only, and we will adjust this information based on the actual initial public offering price and other terms of this offering determined at pricing. Additional paid-in capital reflects the net proceeds we expect to receive, after deducting the underwriting discounts, non-accountable expense allowance, and estimated offering expenses payable by us. We estimate that such net proceeds without full exercise of over-allotment option will be approximately $7,560,000, and net proceeds with full exercise of over-allotment option will be approximately $8,802,000.

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#### DILUTION
If you invest in our Ordinary Shares, your interest will be diluted for each Ordinary Share you purchase to the extent of the difference between the initial public offering price per Ordinary Share and our net tangible book value per Ordinary Share after this Offering. Dilution results from the fact that the initial public offering price per Ordinary Share is substantially in excess of the net tangible book value per Ordinary Share attributable to the existing shareholders for our presently issued and outstanding Ordinary Shares.

Our net tangible benefit as of December 31, 2024 was $787,134 or $0.06 per Ordinary Share. Net tangible benefit represents the amount of our total consolidated tangible assets (excluding intangible assets, net, and right-of-use assets as of December 31, 2024), less the amount of our total consolidated liabilities. Dilution is determined by subtracting the as adjusted net tangible book value per Ordinary Share from the initial public offering price per Ordinary Share and after deducting the estimated underwriting discounts, non-accountable expense allowance and estimated offering expenses payable by us.

After giving further effect to our sale of Ordinary Shares in this Offering at the initial public offering price of $4.50 per Ordinary Share, and after deducting the estimated underwriting discounts, non-accountable expense allowance and estimated offering expenses payable by us, our as adjusted net tangible book value as of December 31, 2024 would have been $8,347,135, or approximately $0.58 per Ordinary Share (assuming no exercise of the over-allotment option). This represents an immediate increase in as adjusted net tangible book value per Ordinary Share of $0.52 to our existing shareholders and an immediate dilution in as adjusted net tangible book value per Ordinary Share of approximately $3.20 to new investors purchasing Ordinary Shares in this Offering. If the over-allotment is exercised in full, the as adjusted net tangible book value as of December 31, 2024 would have been $9,589,135, or approximately $0.65 per Ordinary Share. This represents an immediate increase in as adjusted net tangible book value per Ordinary Share of $0.59 to our existing shareholders and an immediate dilution in as adjusted net tangible book value per Ordinary Share of approximately $3.18 to new investors purchasing Ordinary Shares in this Offering.

The following table illustrates this dilution on a per Ordinary Share basis.

---

| | | |
|:---|:---|:---|
|  | **Offering <br>without <br>over-allotment** | **Offering with <br>over-allotment** |
|  Assumed initial public offering price per ordinary share | $4.50 | $4.50 |
|  Net tangible book value per Ordinary Share as of December 31, 2024 | $0.06  | $0.06 |
|  Increase in pro forma as adjusted net tangible book value per Ordinary Share attributable to new investors purchasing Ordinary Shares in this Offering | $3.78 | $3.83 |
|  Pro forma as adjusted net tangible book value per Ordinary Share after this Offering | $0.58 | $0.65 |
|  Dilution per Ordinary Share to new investors in this Offering | $3.20 | $3.18 |

---

An increase (decrease) in the assumed initial public offering price of our Ordinary Shares would increase (decrease) our net tangible book value after giving effect to the Offering assuming no change to the number of our Ordinary Shares offered by us as set forth on the cover page of this prospectus, and after deducting estimated expenses payable by us.

To the extent that we issue additional Ordinary Shares in the future, there will be further dilution to new investors participating in this Offering.

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The following table summarizes, on an as adjusted basis as of December 31, 2024, the differences between existing shareholders and the new investors, the total consideration paid and the average price per Ordinary Share before deducting the estimated underwriting discounts, non-accountable expense allowance and estimated offering expenses payable by us.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  **Over-allotment option not <br>exercised** | **<br>Ordinary Shares purchased** | **<br>Ordinary Shares purchased** | **<br>Total consideration** | **<br>Total consideration** | **Average price <br>per ordinary <br>share** |
|  **Over-allotment option not <br>exercised** | **Number** | **Percent** | **Amount** | **Percent** | **Average price <br>per ordinary <br>share** |
|  Existing shareholders | 12500000 | 86.21% | $192401 | 2.09% | $0.02 |
|  New investors | 2000000 | 13.79% | $9000000 | 97.91% | $4.50 |
|  Total | 14500000 | 100.00% | $9192401 | 100.00% | $0.63 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  **Over-allotment exercised <br>in full** | **<br>Ordinary Shares purchased** | **<br>Ordinary Shares purchased** | **<br>Total consideration** | **<br>Total consideration** | **Average price<br>per ordinary<br>share** |
|  **Over-allotment exercised <br>in full** | **Number** | **Percent** | **Amount** | **Percent** | **Average price<br>per ordinary<br>share** |
|  Existing shareholders | 12500000 | 84.46% | $192401 | 1.83% | $0.02 |
|  New investors | 2300000 | 15.54% | $10350000 | 98.17% | $4.50 |
|  Total | 14800000 | 100.00% | $10542401 | 100.00% | $0.71 |

---

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#### M ANAGEMENT'S DISCUSSION AND ANALYSIS OF<br>FINANCIAL CONDITION AND RESULTS OF OPERATIONS
*The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and related notes included elsewhere in this prospectus. This discussion and analysis and other parts of this prospectus contain forward*-looking *statements based upon current beliefs, plans and expectations that involve risks, uncertainties and assumptions. Our actual results and the timing of selected events could differ materially from those anticipated in these forward*-looking *statements as a result of several factors, including those set forth under "Risk Factors" and elsewhere in this prospectus. You should carefully read the "Risk Factors" section of this prospectus to gain an understanding of the important factors that could cause actual results to differ materially from our forward*-looking *statements.*

#### Business Overview
We focus on partnering with schools and local/regional organizations in Hong Kong, offering a range of technology educational products and services. This includes the sale of cutting-edge products like robotics and drones for educational purposes, offering of online and offline technology education courses, organizing events, competitions and study tours, as well as providing paid services on our online platform.

We offer the following products and services: (1) software and hardware products tailored for STEM education; (2) STEM education training courses; (3) hosting technology-focused competitions and events; (4) organizing technology-themed study tours; (5) repair and maintenance for software and hardware products.

#### Key Factors that Affect Results of Operations
We believe the key factors affecting the Company's financial condition and results of operations include the following:

#### Continued growth of the market for the STEM educational programs and products in Hong Kong
As Hong Kong's strategic positioning in the field of technological innovation becomes more defined, the demand for high-tech skills is projected to experience substantial growth, thereby presenting novel development opportunities for STEM educational programs and products. Over the next few years, increased investment from the government, schools, and enterprises in innovative education — particularly in robotics programming — is anticipated. These technological advancements and policy initiatives will provide a robust foundation for the market's future growth.

We have a dedicated and efficient management team with extensive industry experience in various aspects of school management, administration, and on-the-ground teaching. The management's in-depth understanding of the educational technology sector allows us to effectively identify and respond to market needs while implementing innovative strategies that drive growth and operational excellence.

Over the fiscal years ended June 30, 2023 and 2024, and the six months ended December 31, 2024, we have maintained continued partnerships with over 400 primary and secondary schools. We have achieved relatively stable income during this period. We are committed to continuously exploring new demands from our existing customers for STEM educational programs and products, as well as continuously developing new customers, to achieve sustained growth in the future.

#### Retention of our existing customers and acquisition of new customers
*Our ability to offer high*-quality *customer support*

Our business success relies significantly on the strong relationships we build with our customers, allowing us to understand and fulfill their unique needs with customized solutions. Our customers depend on our customer support team to assist them in deploying our products and services effectively, help them resolve post-deployment issues quickly and provide ongoing support. High-quality support is important for the renewal and expansion of our agreements

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with existing customers. The importance of high-quality customer support will increase as we expand our business and pursue new customers. We offer one-of-a-kind education solutions, meeting customers' needs for innovation, advanced technology, and high-quality education. Our proprietary products, such as the robot and drone, have been adopted by 35% of primary and secondary schools in Hong Kong, showcasing their effectiveness in enhancing learning outcomes. For our ongoing customer support and after-sale consulting services related to our drones and robots, we offer maintenance plans typically structured as 12-month agreements.

*Our ability to improve, upgrade, enhance, or innovate our educational products and programs*

The market for STEM educational programs and products in Hong Kong is characterized by rapid technological changes, evolving educational standards, and shifting customer expectations. To remain competitive, we must continuously adapt our offerings and ensure that our programs and products keep pace with industry trends and new technologies. Our success depends on our ability to identify and anticipate the evolving needs of our customers — particularly schools and training institutions — and to design solutions that align with those needs. Our ability to attract new customers, retain existing ones, and drive growth relies heavily on our capacity to continually enhance the functionality, performance, and appeal of our educational products, as well as to develop new programs that resonate with customer preferences. Our educational solutions must also integrate with a variety of third-party technologies, including learning management systems, software platforms, and hardware. As these technologies evolve, we must continually adapt our products to ensure compatibility and performance. We have made, and will continue to make, significant investments in program development and product innovation, dedicating considerable resources to be commercially successful.

*Our ability to expand our marketing and sales capabilities*

Our ability to increase our customer base and achieve broader market acceptance of our products and services will also depend on our ability to expand our marketing and sales capabilities. We plan to expand our marketing and sales operations, both domestically and internationally. We plan to dedicate resources to sales and marketing programs, including targeted advertising for our innovative training programs and high-quality educational products, focusing on both B2B and B2C models. Our region-and school-based marketing approach aims to promote our brand and products more effectively in Hong Kong and internationally.

#### Stable business relationships with subcontractors and suppliers
Our strong working relationships with subcontractors enable us to deliver high-quality products and services efficiently, contributing to our reliable supply chain and operational stability. This network of trusted partners and customers is a cornerstone of our business, supporting sustained growth and consistent performance in the market.

We are an authorized distributor of DJI drones and related products under a distribution agreement with iFlight, a wholly owned subsidiary of DJI. While our agreement is not directly with DJI or Shenzhen DJI and does not provide for formal exclusivity, to our knowledge, we are a leading provider of DJI drone-based educational solutions in Hong Kong. This unique combination of cutting-edge technology and tailored educational content positions us as a leader in the educational technology market in Hong Kong. We also collaborate with High Great to distribute educational drones under the "HuLa" brand, which enables us to deliver high-quality educational programs, benefiting from their expertise as a leading manufacturer of drones and intelligent hardware solutions. Any disruption or termination of this partnership could impact the quality of our programs, potentially resulting in customer dissatisfaction and loss.

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#### Results of Operations

#### Comparison of Results of Operations for the Six Months Ended December 31, 2023 and 2024
The following table sets forth a summary of our consolidated results of operations for the periods presented. This information should be read together with our consolidated financial statements and related notes included elsewhere in this filing. The results of operations in any period are not necessarily indicative of our future trends.

(Amounts expressed in U.S. dollars, except share data and per share data, or otherwise noted)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Six Months Ended <br>December 31,** | **For the Six Months Ended <br>December 31,** | **Variance in** | **Variance in** |
|  | **2024** | **2023** | **Amount** | **%** |
| &nbsp;&nbsp;&nbsp; Revenues | 1992566 | 2118904 | (126338) | -5.96% |
|  Cost of Revenues | (928057) | (1201235) | 273178 | -22.74% |
| &nbsp;&nbsp;&nbsp; **Gross profit** | $**1064509** | $**917669** | $**146840** | **16.00**% |
|  Selling and marketing expenses | (58296) | (33971) | (24325) | 71.61% |
|  General and administrative expenses | (657299) | (435137) | (222162) | 51.06% |
| &nbsp;&nbsp;&nbsp; **Income from operations** | $**348914** | $**448561** | $**(99647)** | **-22.21**% |
| &nbsp;&nbsp;&nbsp; Other income/(expense), net | 1369 | 4591 | (3222) | -70.18% |
|  **Income before income taxes** | $**350283** | $**453152** | $**(102869)** | **-22.70**% |
| &nbsp;&nbsp;&nbsp; Income tax expenses | (38381) | (53532) | 15151 | 28.30% |
|  **Net income** | $**311902** | $**399620** | $**(87718)** | **-21.95**% |

---

#### Comparison of Results of Operations for Fiscal Years Ended June 30, 2023 and 2024
The following table sets forth a summary of our consolidated results of operations for the periods presented. This information should be read together with our consolidated financial statements and related notes included elsewhere in this filing. The results of operations in any period are not necessarily indicative of our future trends.

(Amounts expressed in U.S. dollars, except share data and per share data, or otherwise noted)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the year Ended <br>June 30,** | **For the year Ended <br>June 30,** | **Variance in** | **Variance in** |
|  | **2024** | **2023** | **Amount** | **%** |
| &nbsp;&nbsp;&nbsp; Revenues | 4577813 | 5123511 | (545698) | -10.65% |
|  Cost of Revenues | (2395481) | (2659253) | 263772 | -9.92% |
| &nbsp;&nbsp;&nbsp; **Gross profit** | $**2182332** | $**2464258** | $**(281926)** | **-11.44%** |
|  Selling and marketing expenses | (101840) | (98710) | (3130) | 3.17% |
|  General and administrative expenses | (891267) | (819724) | (71543) | 8.73% |
| &nbsp;&nbsp;&nbsp; **Income from operations** | $**1189225** | $**1545824** | $**(356599)** | **-23.07%** |
| &nbsp;&nbsp;&nbsp; Other income/(expense), net | 28414 | 50910 | (22496) | -44.19% |
|  **Income before income taxes** | $**1217639** | $**1596734** | $**(379095)** | **-23.74%** |
| &nbsp;&nbsp;&nbsp; Income tax expenses | (179813) | (242267) | 62454 | -25.78% |
|  **Net income** | $**1037826** | $**1354467** | $**(316641)** | **-23.38%** |

---

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#### Revenues
Our revenues mainly represent revenues from sales of software and hardware products, training courses, and other services.

The following table sets forth the revenues of our different types of businesses:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Six Months Ended <br>December 31,** | **For the Six Months Ended <br>December 31,** | **Variance in** | **Variance in** |
|  | **2024** | **2023** | **Amount** | **%** |
|  **Revenue** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Software and hardware products | 1063958 | 1341059 | (277101) | -20.66% |
| &nbsp;&nbsp;&nbsp; Training courses | 585494 | 709712 | (124218) | -17.50% |
| &nbsp;&nbsp;&nbsp; Other services | 343114 | 68133 | 274981 | 403.59% |
|  **Total revenues** | $**1992566** | $**2118904** | $**(126338)** | **-5.96**% |

---

For the six months ended December 31, 2023 and 2024, our total revenues were US$2,118,904 and US$1,992,566, respectively. Revenues generated from sales of software and hardware products accounted for 63.29% and 53.40% of the total revenue for the six months ended December 31, 2023 and 2024, respectively. Revenues generated from STEM education training courses accounted for 33.49% and 29.38% of the total revenue for the six months ended December 31, 2023 and 2024, respectively. Revenues generated from other services, including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products, totally accounted for 3.22% and 17.22% of the total revenue for the six months ended December 31, 2023 and 2024, respectively.

Our total revenues decreased by US$126,338 or approximately 5.96% to US$1,992,566 for the six months ended December 31, 2024 from US$2,118,904 for the six months ended December 31, 2023. Our revenues from sales of software and hardware products decreased by US$277,101 or approximately 20.66% to US$1,063,958 for the six months ended December 31, 2024 from US$1,341,059 for the six months ended December 31, 2023. Our revenues from STEM education training courses decreased by US$124,218 or approximately 17.50% to US$585,494 for the six months ended December 31, 2024 from US$709,712 for the six months ended December 31, 2023. Our revenues from other services, including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products, increased by US$274,981 or approximately 403.59% to US$343,114 for the six months ended December 31, 2024 from US$68,133 for the six months ended December 31, 2023.

Due to our proactive optimization of the customer portfolio and reduction in sales of low-priced and low-margin products and services as well as an increased focus on hosting higher-margin events and study tours, our total revenue for the six months ended December 31, 2024, slightly decreased compared to the same period in 2023. However, this does not indicate a decline in our overall operating performance during the period.

The following table sets forth the revenues of our different types of businesses:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the year Ended <br>June 30,** | **For the year Ended <br>June 30,** | **Variance in** | **Variance in** |
|  | **2024** | **2023** | **Amount** | **%** |
|  **Revenue** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Software and hardware products | 2664915 | 2925459 | (260544) | -8.91% |
| &nbsp;&nbsp;&nbsp; Training courses | 1660785 | 1856097 | (195312) | -10.52% |
| &nbsp;&nbsp;&nbsp; Other services | 252113 | 341955 | (89842) | -26.27% |
|  **Total revenues** | $**4577813** | $**5123511** | $**(545698)** | **-10.65%** |

---

For the years ended June 30, 2023 and 2024, our total revenues were US$5,123,511 and US$4,577,813, respectively.

Revenues generated from sales of software and hardware products accounted for 57.1% and 58.21% of the total revenue for the years ended June 30, 2023 and 2024, respectively. Revenues generated from STEM education training courses accounted for 36.23% and 36.28% of the total revenue for the years ended June 30, 2023 and 2024,

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respectively. Revenues generated from other services, including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products, totally accounted for 6.67% and 5.51% of the total revenue for the years ended June 30, 2023 and 2024, respectively.

Our total revenues decreased by US$545,698 or approximately 10.65% to US$4,577,813 for the year ended June 30, 2024 from US$5,123,511 for the year ended June 30, 2023. Our revenues from sales of software and hardware products decreased by US$260,544 or approximately 8.91% to US$2,664,915 for the year ended June 30, 2024 from US$2,925,459 for the year ended June 30, 2023. Our revenues from STEM education training courses decreased by US$195,312 or approximately 10.52% to US$1,660,785 for the year ended June 30, 2024 from US$1,856,097 for the year ended June 30, 2023. Our revenues from other services, including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products, decreased by US$89,842 or approximately 26.27% to US$252,113 for the year ended June 30, 2024 from US$341,955 for the year ended June 30, 2023.

Due to the impact of the COVID-19 pandemic, some software and hardware product, training course, as well as other service orders that we had originally planned to make or complete during the fiscal year ended June 30, 2022, were postponed. Almost all of these postponed orders were completed in the fiscal year ended June 30, 2023, resulting in the revenue exceeding our normal levels for that fiscal year. Although our revenue for the fiscal year ended June 30, 2024 appeared to have decreased compared to the fiscal year ended June 30, 2023, we believe that the revenue level for the fiscal year ended June 30, 2024 represents our normal revenue scale.

#### Cost of revenues
The following table sets forth the cost of revenues of our different types of businesses:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Six Months Ended <br>December 31,** | **For the Six Months Ended <br>December 31,** | **Variance in** | **Variance in** |
|  | **2024** | **2023** | **Amount** | **%** |
|  **Cost of revenues** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Software and hardware products | (647011) | (926221) | 279210 | -30.15% |
| &nbsp;&nbsp;&nbsp; Training courses | (177315) | (214702) | 37387 | -17.41% |
| &nbsp;&nbsp;&nbsp; Other services | (103731) | (60312) | (43419) | 71.99% |
|  **Total cost of revenues** | $**(928057)** | $**(1201235)** | $**273178** | **-22.74**% |

---

For the six months ended December 31, 2023 and 2024, our total cost of revenues were US$1,201,235 and US$928,057, respectively.

The cost of revenues of sales of software and hardware products mainly consists of direct goods, shipping and logistic costs, and charges to write down the carrying value of inventory when it exceeds its estimated net realizable value and to provide for obsolete inventory. Our cost of revenues of sales of software and hardware products decreased by 30.15% from US$926,221 for the six months ended December 31, 2023 to US$647,011 for the six months ended December 31, 2024, which was mainly due to the decreasing sales volume of our software and hardware products.

The cost of revenues of STEM education training courses mainly consists of fees paid to tutors. Our cost of revenues of STEM education training courses decreased by 17.41% from US$214,702 for the six months ended December 31, 2023 to US$177,315 for the six months ended December 31, 2024, which was mainly due to the decreasing services volume of our STEM education training courses.

The cost of revenues of other services, including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products, mainly consists of venue and support costs, trip expenses, and outsourced repair and maintenance costs. Although our revenues from other services for the six months ended December 31, 2024 increased by 403.59% compared to the same period of 2023, the cost of revenues from other services increased by 71.99% from US$60,312 for the six months ended December 31, 2023 to US$103,731 for the same period of 2024. The disparity between the growth rates of cost and revenue was mainly due to the significant differences in the cost structure among various service projects.

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The following table sets forth the cost of revenues of our different types of businesses:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the year Ended <br>June 30,** | **For the year Ended <br>June 30,** | **Variance in** | **Variance in** |
|  | **2024** | **2023** | **Amount** | **%** |
|  **Cost of revenues** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Software and hardware products | (1739585) | (1852351) | 112766 | -6.09% |
| &nbsp;&nbsp;&nbsp; Training courses | (530041) | (769110) | 239069 | -31.08% |
| &nbsp;&nbsp;&nbsp; Other services | (125855) | (37792) | (88063) | 233.02% |
|  **Total cost of revenues** | $**(2395481)** | $**(2659253)** | $**263772** | **-9.92%** |

---

For the years ended June 30, 2023 and 2024, our total cost of revenues were US$2,659,253 and US$2,395,481, respectively.

The cost of revenues of sales of software and hardware products mainly consists of direct goods, shipping and logistic costs, and charges to write down the carrying value of inventory when it exceeds its estimated net realizable value and to provide for obsolete inventory. Our cost of revenues of sales of software and hardware products decreased by 6.09% from US$1,852,351 for the year ended June 30, 2023 to US$1,739,585 for the year ended June 30, 2024, which was mainly due to the decreasing sales volume of our software and hardware products.

The cost of revenues of STEM education training courses mainly consists of fees paid to tutors. Our cost of revenues of STEM education training courses decreased by 31.08% from US$769,110 for the year ended June 30, 2023 to US$530,041 for the year ended June 30, 2024, which was mainly due to the decreasing services volume of our STEM education training courses, as well as the cost reductions resulting from our centralized procurement of labor services of the tutors.

The cost of revenues of other services, including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products, mainly consists of venue and support costs, trip expenses, and outsourced repair and maintenance costs. Although our revenues from other services for the fiscal year ended June 30, 2024 decreased by 26.27% compared to the fiscal year ended June 30, 2023, our cost of revenues of other services increased by 233.02% from US$37,792 for the year ended June 30, 2023 to US$125,855 for the year ended June 30, 2024, which was mainly due to the significant differences in the cost structure of these different services projects.

#### Gross profit and gross profit margin
Gross profit represents our net revenues less cost of revenues. Our gross profit margin represents our gross profit as a percentage of our net revenues.

The following table sets forth the gross profit and gross profit margin of our different types of businesses:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Six Months Ended <br>December 31,** | **For the Six Months Ended <br>December 31,** | **Variance in** | **Variance in** |
|  | **2024** | **2023** | **Amount** | **%** |
|  **Gross profit** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Software and hardware products | 416947 | 414838 | 2109 | 0.51% |
| &nbsp;&nbsp;&nbsp; Training courses | 408179 | 495010 | (86831) | -17.54% |
| &nbsp;&nbsp;&nbsp; Other services | 239383 | 7821 | 231562 | 2960.77% |
|  **Total gross profit** | $**1064509** | $**917669** | $**146840** | **16.00**% |
|  **Gross profit margin** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Software and hardware products | 39.19% | 30.93% | 8.25% | 26.67% |
| &nbsp;&nbsp;&nbsp; Training courses | 69.72% | 69.75% | -0.03% | -0.04% |
| &nbsp;&nbsp;&nbsp; Other services | 69.77% | 11.48% | 58.29% | 507.75% |
|  **Overall gross profit margin** | **53.42**% | **43.31**% | **10.12**% | **23.37**% |

---

For the six months ended December 31, 2023 and 2024, our total gross profit were US$917,669 and US$1,064,509, respectively, and our overall gross profit margin were43.31% and 53.42%, respectively.

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Our gross profit of sales of software and hardware products increased by US$2,109 or approximately 0.5% to US$416,947 for the six months ended December 31, 2024 from US$414,838 for the same period in 2023. This increase was primarily due to the reduction in sales of low-priced and low-margin products, as well as an improvement of purchasing bargaining power, which also resulted in a significant increase in gross profit margin of software and hardware products to 39.19% for the six months ended December 31, 2024, compared to 30.93% for the same period in 2023.

Our gross profit of STEM education training courses decreased by US$86,831 or approximately 18% to US$408,179 for the six months ended December 31, 2024 from US$495,010 for the same period in 2023. The decline was mainly attributable to a decrease in service volume of service provided under our STEM education training course. The gross profit margin of STEM education training courses for the six months ended December 31, 2024 remained stable compared to the corresponding period in the previous year.

Our gross profit of other services, including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products, increased by US$231,562 or approximately 2,961% to US$239,383 for the six months ended December 31, 2024 from US$7,821 for the same period in 2023. The gross profit margin of other services for the year ended December 31, 2024 increased by 507.79% compared to the corresponding period in the previous year, which was mainly due to significant differences in the cost structure among various service projects.

The following table sets forth the gross profit and gross profit margin of our different types of businesses:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the year Ended <br>June 30,** | **For the year Ended <br>June 30,** | **Variance in** | **Variance in** |
|  | **2024** | **2023** | **Amount** | **%** |
|  **Gross profit** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Software and hardware products | 925330 | 1073108 | (147778) | -13.77% |
| &nbsp;&nbsp;&nbsp; Training courses | 1130744 | 1086987 | 43757 | 4.03% |
| &nbsp;&nbsp;&nbsp; Other services | 126258 | 304163 | (177905) | -58.49% |
|  **Total gross profit** | $**2182332** | $**2464258** | $**(281926)** | **-11.44%** |
|  **Gross profit margin** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Software and hardware products | 34.72% | 36.68% | -1.96% | -5.34% |
| &nbsp;&nbsp;&nbsp; Training courses | 68.08% | 58.56% | 9.52% | 16.26% |
| &nbsp;&nbsp;&nbsp; Other services | 50.08% | 88.95% | -38.87% | -43.70% |
|  **Overall gross profit margin** | **47.67%** | **48.10%** | **-0.43%** | **-0.88%** |

---

For the years ended June 30, 2023 and 2024, our total gross profit were US$2,464,258 and US$2,182,332, respectively, and our overall gross profit margin were 48.10% and 47.62%, respectively.

Our gross profit of sales of software and hardware products decreased by US$147,778 or approximately 13.77% to US$925,330 for the year ended June 30, 2024 from US$1,073,108 for the year ended June 30, 2023, which was mainly due to the decreasing sales volume of our software and hardware products. The gross profit margin of sales of software and hardware products for the year ended June 30, 2024 remained relatively stable with a slight decrease of 1.96% compared to the corresponding period in the previous year.

Our gross profit of STEM education training courses increased by US$43,757 or approximately 4.03% to US$1,130,744 for the year ended June 30, 2024 from US$1,086,987 for the year ended June 30, 2023. The gross profit margin of STEM education training courses for the year ended June 30, 2024 increased by 9.52% compared to the corresponding period in the previous year, mainly due to the cost reductions resulting from our centralized procurement of labor services of the tutors.

Our gross profit of other services, including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products, decreased by US$177,905 or approximately 58.49% to US$126,258 for the year ended June 30, 2024 from US$304,163 for the year ended June 30, 2023. The gross profit margin of other services for the year ended June 30, 2024 decreased by 38.87% compared to the corresponding period in the previous year, mainly due to the significant differences in the cost structure of these different services projects.

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#### Selling and marketing expenses
Selling and marketing expenses primarily consist of (i) rental fees for product and service display stores, and (ii) cost of consumables used for product promotion.

The selling and marketing expenses increased by US$24,325 or approximately 71.60%, to US$58,296 for the six months ended December 31, 2024 from US$33,971 for the same period in 2023, which was primarily attributable to an increase of US$18,945 in marketing related to the promotion of events and study tours, as well as an increase of US$5,380 in rental fees for product and service display stores.

The selling and marketing expenses increased by US$3,130 or approximately 3.17%, to US$101,840 for the year ended June 30, 2024 from US$98,710 for the year ended June 30, 2023, which was due to an increase of US$6,824 in rental fees for product and service display stores, and a decrease of US$3,694 in cost of consumables used for product promotion.

#### General and administrative expenses
General and administrative expenses primarily consist of (i) salaries and benefits for administrative personnel, (ii) professional service fees, (iii) office expenses, (iv) travel and transportation expenses, and (v) other expenses, including depreciation expenses, insurance expenses, bank charges, tax expenses, bad debt expenses, etc.

The general and administrative expenses increased by US$222,162 or approximately 51.06%, to US$657,299 for the six months ended December 31, 2024 from US$435,137 for the same period in 2023, which was primarily attributable to an increase of US$21,696 in salaries and benefits for administrative personal due to an increase of employee headcounts resulting from our business development, and an increase of US$127,421 in professional service fees due to an increase of audit fees, an increase of US$26,379 in bad debt expense, and an increase of US$46,666 in the miscellaneous expenses.

The general and administrative expenses increased by US$71,543 or approximately 8.73%, to US$891,267 for the year ended June 30, 2024 from US$819,724 for the year ended June 30, 2023, which was primarily attributable to an increase of US$72,978 in salaries and benefits for administrative personnel due to an increase of employee headcounts resulting from our business growth.

#### Income from operations
As a result of the foregoing, our income from operations remained relatively stable and decreased by US$99,647 or approximately 22.21%, to US$348,914 for the six months ended December 31, 2024 from US$448,561 for the same period in 2023, primarily due to the impact of an increase in audit fees of US$131,326 for our initial public offering.

As a result of the foregoing, our income from operations decreased by US$356,599 or approximately 23.07%, to US$1,189,225 for the year ended June 30, 2024 from US$1,545,824 for the year ended June 30, 2023, mainly due to the decreasing sales volume of our software and hardware products, training courses and other services, as well as the increase of the selling and marketing expenses, and the general and administrative expenses.

#### Other income / (expenses), net
Other income, net mainly includes (i) interest income, (ii) foreign currency exchange gains and losses, and (iii) government grant and reward from bank.

Other income/(expenses), net decreased by US$3,222, or approximately 70.19%, to US$1,369 for the six months ended December 31, 2024 from US$4,591 for the same period in 2023, which was primarily attributable to a decrease of US$3,634 in interest income.

Other income/(expenses), net decreased by US$22,496, or approximately 44.19%, to US$28,414 for the year ended June 30, 2024 from US$50,910 for the year ended June 30, 2023, which was primarily attributable to a decrease of US$26,570 in government subsidies.

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#### Profit before income tax
As a result of the foregoing, our profit before income tax decreased by US$102,869, or approximately 22.70%, to US$350,283 for the six months ended December 31, 2024 from US$453,152 for the same period in 2023, which also primarily due to the impact of an increase in audit fees of US$131,326 for our initial public offering.

As a result of the foregoing, our profit before income tax decreased by US$379,095, or approximately 23.74%, to US$1,217,639 for the year ended June 30, 2024 from US$1,596,734 for the year ended June 30, 2023.

#### Income tax expenses
The income tax expenses decreased by US$15,151, or approximately 28.30%, to US$38,381 for the six months ended December 31, 2024 from US$53,532 for the six months ended December 31, 2023. The increase was in line with the increase of taxable income for the six months ended December 31, 2024.

The income tax expenses decreased by US$62,454, or approximately 25.78%, to US$179,813 for the year ended June 30, 2024 from US$242,267 for the year ended June 30, 2023. The decrease was in line with the decrease of taxable income for the year ended June 30, 2024.

#### Net income
As a result of the foregoing, our net income decreased by US$87,718, or approximately 21.95%, to US$311,902 for the six months ended December 31, 2024 from US$399,620 for the same period in 2023, which also primarily due to the impact of an increase in audit fees of US$131,326 for our initial public offering.

As a result of the foregoing, our net income decreased by US$316,641, or approximately 23.38%, to US$1,037,826 for the year ended June 30, 2024 from US$1,354,467 for the year ended June 30, 2023.

#### Liquidity and Capital Resources

#### Primary Sources of Liquidity
Our primary sources of liquidity consist of existing cash and cash equivalents, and cash flows from our operating activities. Our ability to generate sufficient cash flows from our operational activities is primarily dependent on the sales of our products, as well as the provision of training courses and other services to our customers, at margins that are adequate to cover both fixed and variable expenses.

As of December 31, 2024, we had cash and cash equivalents of US$676,433, positive working capital of US$677,728 and total equity of US$941,507. In assessing our liquidity, management monitors and analyzes our cash on-hand, the ability to generate sufficient revenue in the future, our operating and capital expenditure commitments, and our ability to raise funds through certain financing measures such as bank borrowing.

As of June 30, 2024, we had cash and cash equivalents of US$456,020, positive working capital of US$392,587 and total equity of US$623,225. In assessing our liquidity, management monitors and analyzes our cash on-hand, the ability to generate sufficient revenue in the future, our operating and capital expenditure commitments, and our ability to raise funds through certain financing measures such as bank borrowing.

We do not have any amounts committed to be provided by our related parties. We are not dependent upon this offering to meet our liquidity needs for the next twelve months. However, we plan to expand our business by upgrading our current technologies and expanding into new STEM education solutions, broadening our customer base through targeted marketing campaigns, and introducing our AI education solutions to customers. We will need to raise more capital through financing, including our initial public offering and bank borrowing, to implement these growth strategies and strengthen our position in the market.

Based on current operating plan, our management believes that the above-mentioned measures collectively will provide sufficient liquidity for us to meet our future liquidity and capital requirement for at least next twelve months from the date of this prospectus.

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#### Cash Flows

#### Cash Flows for the Six Months Ended December 31, 2024, compared to the Six Months Ended December 31, 2023
The following table sets forth a summary of our cash flows for the periods indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Six Months Ended <br>December 31,** | **For the Six Months Ended <br>December 31,** | **Variance in** | **Variance in** |
|  | **2024** | **2023** | **Amount** | **%** |
|  Net cash provided by operating activities | 859309 | 539002 | 320307 | 59.43% |
|  Net cash used in investing activities |  |  |  |  |
|  Net cash used in financing activities | (642777) | (638798) | (3979) | 0.62% |
|  Effect of exchange rate changes | 3881 | 2063 | 1818 | 88.12% |
|  **Net change in cash and cash <br>equivalents** | $**220413** | $**(97733)** | $**318146** | **-325.53**% |
|  Cash and cash equivalents, beginning of the year | 456020 | 602398 | (146378) | -24.30% |
|  **Cash and cash equivalents, end of the year** | $**676433** | $**504665** | $**171768** | **34.04**% |

---

#### Cash Flows for the Year Ended June 30, 2024, compared to the Year Ended June 30, 2023
The following table sets forth a summary of our cash flows for the periods indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the year Ended <br>June 30,** | **For the year Ended <br>June 30,** | **Variance in** | **Variance in** |
|  | **2024** | **2023** | **Amount** | **%** |
|  Net cash provided by operating activities | 960436 | 989451 | (29015) | -2.93% |
|  Net cash used in investing activities | (2579) |  | (2579) |  |
|  Net cash used in financing activities | (1104231) | (581324) | (522907) | 89.95% |
|  Effect of exchange rate changes | (4) | 443 | (447) | -100.90% |
|  **Net change in cash and cash equivalents** | $**(146378)** | $**408570** | $**(554948)** | **-135.83%** |
|  Cash and cash equivalents, beginning of the year | 602398 | 193828 | 408570 | 210.79% |
|  **Cash and cash equivalents, end of the year** | $**456020** | $**602398** | $**(146378)** | **-24.3%** |

---

#### Operating Activities
For the six months ended December 31, 2024, our net cash provided by operating activities was US$859,309, which was primarily attributable to (i) our net income of US$311,902, (ii) an adjustment of deducted non-cash items of a positive net amount of US$68,157, mainly inclusive of depreciation, non-cash lease expense, allowance for doubtful accounts, and deferred income taxes, (iii) changes in working capital that positively affected the cash flow from operating activities, primarily including: (a) a decrease of US$593,834 in accounts receivable mainly due to the differences in the numbers and the amount of unsettled orders at the end of the period; (b) an decrease of US$89,159 in inventories mainly due to the differences in the numbers and the amount of undelivered orders at the end of the period; (c) an total increase of US$247,736 in prepayments and other current assets mainly due to the increase in prepayments to related parties; (d) an increase of US$238,661 in deferred offering costs; (e) an increase of US$25 in accounts payable mainly due to the differences in the numbers and the amount of purchase orders based on our demand for sales orders at the end of the period; (f) an decrease of US$253,781 in deferred revenue, mainly due to the differences in the service life of the Company's training courses and other services revenue; and (g) a total increase of US$558,545 in accrued expenses and other liabilities mainly due to the increase in income tax payable, and related party payables.

For the six months ended December 31, 2023, our net cash provided by operating activities was US$539,002, which was primarily attributable to (i) our net income of US$399,620, (ii) an adjustment of deducted non-cash items of a positive net amount of US$12,364, mainly inclusive of depreciation, non-cash lease expense, allowance for doubtful accounts, and deferred income taxes, (iii) changes in working capital that positively affected the cash flow from

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operating activities, primarily including: (a) an decrease of US$950,051 in accounts receivable mainly due to our sales orders had significantly increased compared to the previous fiscal year, (b) an increase of US$121,668 in inventories mainly due to the differences in the numbers and the amount of undelivered orders at the end of the period; (c) a total increase of US$143,590 in prepayments and other current assets mainly due to the increase in the prepayments to suppliers; (d) an decrease of US$110,074 in accounts payable mainly due to the differences in the numbers and the amount of purchase orders based on our demand for sales orders at the end of the period; (e) an increase of US$91,111 in deferred revenue, mainly due to the differences in the service life of the Company's training courses and other services revenue; and (f) a total decrease of US$510,007 in accrued expenses and other liabilities mainly due to the decrease in income tax payable, and related party payables.

For the year ended June 30, 2024, our net cash provided by operating activities was US$960,436, which was primarily attributable to (i) our net income of US$1,037,826, (ii) an adjustment of deducted non-cash items of a positive net amount of US$33,115, mainly inclusive of depreciation, non-cash lease expense, allowance for doubtful accounts, and deferred income taxes, (iii) changes in working capital that negatively affected the cash flow from operating activities, primarily including: (a) a decrease of US$375,855 in accounts receivable mainly due to the differences in the numbers and the amount of unsettled orders at the end of the period; (b) an increase of US$56,675 in inventories mainly due to the differences in the numbers and the amount of undelivered orders at the end of the period; (c) an total increase of US$56,280 in prepayments and other current assets mainly due to the increase in prepayments to suppliers; (d) a decrease of US$181,831 in accounts payable mainly due to the differences in the numbers and the amount of purchase orders based on our demand for sales orders at the end of the period; (e) an increase of US$171,918 in deferred revenue, mainly due to the differences in the service life of the Company's training courses and other services revenue; and (f) a total decrease of US$354,749 in accrued expenses and other liabilities mainly due to the decrease in income tax payable, and related party payables.

For the year ended June 30, 2023, our net cash provided by operating activities was US$989,451, which was primarily attributable to (i) our net income of US$1,354,467, (ii) an adjustment of deducted non-cash items of a negative net amount of US$117,414, mainly inclusive of depreciation, non-cash lease expense, allowance for doubtful accounts, and deferred income taxes, (iii) changes in working capital that negatively affected the cash flow from operating activities, primarily including: (a) an increase of US$1,209,374 in accounts receivable mainly due to our sales orders had significantly increased compared to the previous fiscal year, (b) a decrease of US$120,748 in inventories mainly due to the differences in the numbers and the amount of undelivered orders at the end of the period; (c) a total increase of US$58,279 in prepayments and other current assets mainly due to the increase in the prepayments to suppliers; (d) an increase of US$84,095 in accounts payable mainly due to the differences in the numbers and the amount of purchase orders based on our demand for sales orders at the end of the period; (e) an increase of US$346,323 in deferred revenue, mainly due to the differences in the service life of the Company's training courses and other services revenue; and (f) a total increase of US$474,598 in accrued expenses and other liabilities mainly due to the increase in income tax payable, and related party payables.

#### Investing Activities
For the six months ended December 31, 2024, we did not generate any cash flows from investment activities. For the six months ended December 31, 2023, we did not generate any cash flows from investment activities.

For the year ended June 30, 2024, our net cash used in investing activities was US$2,579 which was entirely attributable to the expenditure for the purchase of property and equipment. For the year ended June 30, 2023, we did not generate any cash flows from investment activities.

#### Financing Activities
For the six months ended December 31, 2024, our net cash used in financing activities was US$642,777, which was entirely attributable to the payment of the dividends to shareholders. For the six months ended December 31, 2023, our net cash used in financing activities was US$638,798, which was entirely attributable to the payment of the dividends to shareholders.

For the year ended June 30, 2024, our net cash used in financing activities was US$1,104,231, which was entirely attributable to the payment of the dividends to shareholders.

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For the year ended June 30, 2023, our net cash used in financing activities was US$581,324, which was entirely attributable to the payment of the dividends to shareholders.

#### Contingencies
From time to time, we may become involved in litigation relating to claims arising in the ordinary course of the business. However, there are no claims or acts pending or threatened against us that, if adversely determined, would, in our judgment, have a material adverse effect on us.

#### Capital Expenditures
Our capital expenditures consist primarily of expenditures for the purchase of property and equipment for our business expansion. No capital expenditures were incurred for the six months ended December 31, 2023 and 2024, respectively. Our capital expenditures amounted to nil and US$2,579 for the years ended June 30, 2023 and 2024, respectively.

We plan to fund our future capital expenditures with our existing cash and cash equivalents balance and proceeds from this offering. We will continue to make capital expenditures to meet the expected growth of our business.

#### Contractual Obligations
The following table sets forth our contractual obligations as of December 31, 2024:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Payment Due by Period** | **Payment Due by Period** | **Payment Due by Period** | **Payment Due by Period** |
|  | **Total** | **Less than <br>1 year** | **1-3 years** | **More than <br>3 years** |
|  Operating lease commitments | 256082 | 53138 | 191936 | 11008 |
|  **Total** | $**256082** | $**53138** | $**191936** | $**11008** |

---

Other than those shown above, we did not have any significant capital and other commitments as of December 31, 2024.

The following table sets forth our contractual obligations as of June 30, 2024:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Payment Due by Period** | **Payment Due by Period** | **Payment Due by Period** | **Payment Due by Period** |
|  | **Total** | **Less than <br>1 year** | **1-3 years** | **More than <br>3 years** |
|  Operating lease commitments | 222763 | 85448 | 126752 | 10563 |
|  **Total** | $**222763** | $**85448** | $**126752** | $**10563** |

---

Other than those shown above, we did not have any significant capital and other commitments as of June 30, 2024.

#### Off-balance Sheet Commitments and Arrangements
We have not entered into any off-balance sheet financial guarantees or other off-balance sheet commitments to guarantee the payment obligations of any third parties. We have not entered into any derivative contracts that are indexed to our shares and classified as shareholder's equity or that are not reflected in our consolidated financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity or market risk support to such entity. We do not have any variable interest in any unconsolidated entity that provides financing, liquidity, market risk or credit support to us or engages in leasing, hedging or product development services with us.

#### Critical Accounting Policies and Estimates
An accounting policy is considered critical if it requires an accounting estimate to be made based on assumptions about matters that are highly uncertain at the time such estimate is made, and if different accounting estimates that reasonably could have been used, or changes in the accounting estimates that are reasonably likely to occur periodically, could materially impact the consolidated financial statements.

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The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, the reported amounts of revenue and expenses during the reporting period, and the related disclosures in the consolidated financial statements and accompanying footnotes. Out of our significant accounting policies, which are described in "Note 2 — Summary of Significant Accounting Policies" of our consolidated financial statements for the reporting period, included elsewhere in this registration statement, certain accounting policies are deemed "critical," as they require management's highest degree of judgment, estimates and assumptions, including (i) Accounts receivables, net, (ii) Inventories, (iii) Revenue recognition, and (iv) Income taxes. While we believe our judgments, estimates and assumptions are reasonable, we are based on information presently available and actual results may differ significantly from those estimates under different assumptions and conditions. We believe that the following critical accounting estimates involve the most significant judgments used in the preparation of our financial statements.

Also, we qualify as an "emerging growth company", or EGC, pursuant to the Jumpstart Our Business Startups Act of 2012, as amended, or the JOBS Act. As an EGC, the Company does not need to comply with any new or revised financial accounting standards until such date that a private company is otherwise required to comply with such new or revised accounting standards. The Company will adopt the standards based on the extended transition period provided to private companies.

#### Use of estimates
The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date, and revenues and expenses in the consolidated financial statements and accompanying notes.

The estimates used for, but not limited to, determining sales return reserves, income taxes, the collectability of accounts and other receivables, inventory valuation, warranties, fair value of long-lived assets. We have assessed the impact and are not aware of any specific events or circumstances that required an update to our estimates and assumptions or materially affected the carrying value of our assets or liabilities as of the date of issuance of this report. These estimates may change as new events occur and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions.

#### Accounts receivables, net
Accounts receivable represent the amounts that the Company has an unconditional right to consideration. Accounts receivable are recorded at net realizable value, consisting of the carrying amount less an allowance for credit losses, as necessary. We maintain an allowance for doubtful accounts to reserve for potentially uncollectible receivable amounts which is estimated using the approach based on expected losses. The estimation of allowance for doubtful accounts considers factors such as historical credit loss experience, age of receivable balances, current market conditions, reasonable and supportable forecasts of future economic conditions, as well as an assessment of receivables due from specific identifiable counterparties to determine whether these receivables are considered at risk or uncollectible.

#### Inventories
Inventories mainly consist of merchandise available for sale. They are accounted for using the weighted average cost method and stated at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.

#### Revenue recognition
Revenue is principally generated from sales of goods, training courses and hosting events. Revenue represents the amount of consideration the Company is entitled to upon the transfer of promised goods or services in the ordinary course of the Company's activities. Consistent with the criteria of ASC 606 "Revenue from Contracts with Customers", the Company recognizes revenue when performance obligations are satisfied by transferring control of a promised good or service to a customer. For performance obligations that are satisfied at a point in time, the Company also considers

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the following indicators to assess whether control of a promised good or service is transferred to the customer: (i) right to payment, (ii) legal title, (iii) physical possession, (iv) significant risks and rewards of ownership and (v) acceptance of the good or service. For performance obligations satisfied over time, the Company recognizes revenue over time by measuring the progress toward complete satisfaction of a performance obligation.

For revenue arrangements with multiple distinct performance obligations, each distinct performance obligation is separately accounted for and the total consideration is allocated to each performance obligation based on the relative standalone selling price at contract inception.

The Company evaluates if it is a principal or an agent in a transaction to determine whether revenue should be recorded on a gross or net basis. The Company is acting as the principal if it obtains control over the goods and services before they are transferred to customers. Generally, when the Company is primarily obligated in a transaction, is subject to inventory risk, has latitude in establishing prices, or has several but not all of these indicators, the Company acts as the principal and revenue is recorded on a gross basis. Generally, when the Company is not primarily obligated in a transaction, does not bear the inventory risk and does not have the ability to establish the price, the Company acts as the agent and revenue is recorded on a net basis.

*Sales of software and hardware products and training courses*

We earn revenues of sales of software and hardware products and training courses mainly from the delivery of programmable drones and accessories and the delivery of related training courses to Hong Kong schools. The sales of products and training services and their respective prices are separately identifiable in the context of the contracts with customers, and the customers can benefit from each service on its own, therefore we determined they are two separate performance obligations.

We recognize revenues on sales of software and hardware products upon delivery to the customers, which is when the control of the products transfers. Invoices are typically issued at the point control transfers and fees are received within several months. We also recognize a sales return reserve based on historical experience.

We offer e-learning courses to Hong Kong schools. The e-learning courses are operated by our suppliers, and we are acting as an agent in these transactions. The commissions and any related fulfillment fees we earn from these arrangements are recognized when the services are rendered, which generally occurs upon activation of the e-learning users to the customers.

The revenues received for training courses are recognized proportionately as the courses are delivered and are reported net of tuition refunds. Tuition paid in advance is recorded as deferred revenue.

*Other services*

Other services include hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products.

Revenues related to hosting technology-focused competitions and events, organizing technology-themed study tours, are recognized upon completion of the competitions, events and tours.

Revenues related to repair and maintenance are recognized over time as services are provided. Payments are received together with the goods sales and recorded in deferred revenue, which is recognized as revenue ratably over the respective customer contract term. The contract terms are generally a 12-month period.

#### Income taxes
Current income taxes are recorded in accordance with the regulations of the relevant tax jurisdiction. We account for income taxes under the asset and liability method in accordance with ASC 740, Income Tax.

Under this method, deferred tax assets and liabilities are recognized for the tax consequences attributable to differences between carrying amounts of existing assets and liabilities in the financial statements and their respective tax basis, and operating loss carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The

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effect on deferred taxes of a change in tax rates is recognized in the consolidated statements of comprehensive income in the period of change. Valuation allowances are established when necessary to reduce the amount of deferred tax assets if it is considered more likely than not that the amount of the deferred tax assets will not be realized.

We adopted ASC 740 "Income Tax", which provides guidance for recognizing and measuring uncertain tax positions, it prescribes a threshold condition that a tax position must meet for any of the benefits of the uncertain tax position to be recognized in the financial statements. It also provides accounting guidance on derecognizing, classification and disclosure of these uncertain tax positions. The Group's policy on classification of all interest and penalties related to unrecognized income tax positions, if any, is to present them as a component of income tax expenses.

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#### INDUSTRY
*All the information and data presented in this section have been derived from Frost & Sullivan industry report commissioned by us in May 2025. The following discussion contains projections for future growth, which may not occur at the rates that are projected or at all.*

#### Overview of STEM and Robotics Programming Education Market
STEM education promotes the integration and development of scientific and technical subjects within a unified interdisciplinary framework. It advocates for a teaching approach that ensures the interconnectedness of the learning process across disciplines considered essential for the comprehensive development of individuals in both local and global contexts, including Science, Technology, Engineering, and Mathematics. The pedagogical approach of STEM education fosters critical thinking, creativity, innovation, collaboration, and teamwork. This approach helps develop a student profile that is adaptable, determined, and motivated, enabling students to apply their learning to new situations and real-world contexts. Active methodologies equip students with the skills needed to apply the knowledge and tools gained in class to their everyday lives. These approaches encourage students to reflect on their learning through an interactive and multidirectional process.

#### Classification of STEM Education Market
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Scientific Literacy.** Understanding of scientific knowledge, the process and methods of scientific research and the impact of science and technology on society and the individual.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Robot Programing.** Using blocks, robots, etc. as core instructional equipment to highlight hands-on skills, and possibly equipped with some software programming capabilities, focusing on engineering literacy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Software Programing.** Robot Programing. Using blocks, robots, etc. as core instructional equipment to highlight hands-on skills, and possibly equipped with some software programming capabilities, focusing on engineering literacy.

#### Value Chain of STEM Education Market

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#### Market Size of Robotics Programming Education Market
The total revenue of the Robotics Programming Education Market in Hong Kong increased from 689.7 million in 2020 to HKD 1,157.2 million in 2024, representing a CAGR of 13.8%. It is expected to reach HKD 2,584.2 million by 2029, reflecting a CAGR of 17.4% from 2024 to 2029. The robotics programming education market in Hong Kong has experienced slow growth over the past five years, primarily due to the underdeveloped state of technical infrastructure and market demand. Robotics programming remains relatively new to Hong Kong, with many schools still in the early stages of exploring curricula and gradually fostering parental and market awareness of its educational value. Looking ahead, as Hong Kong's strategic positioning in the field of technological innovation becomes more defined, the demand for high-tech skills is expected to grow significantly, presenting new development opportunities for robotics programming education. Over the next few years, increased investment from the government, schools, and enterprises in innovative education — particularly in robotics programming — is anticipated. These technological advancements and policy initiatives will provide a robust foundation for the market's future growth.

*Source: Frost & Sullivan*

#### Drivers of STEM and Robotics Programming Education Market in Hong Kong

#### Workplace Requirements
The World Economic Forum's Future of Jobs report underscores a shift in essential job skills toward analytical thinking, innovation, technology design, and programming. To prepare for this evolving landscape, Hong Kong's secondary and university students must strengthen both soft and technical skills while fostering an entrepreneurial spirit. This demand has driven schools to continuously enhance STEM education curricula, aiming to nurture future tech professionals and innovative talent equipped with the adaptability and creativity needed for tomorrow's job market.

#### Technological Advancement
The integration of technologies like Virtual Reality (VR), Augmented Reality (AR), and Gamification offers students immersive learning experiences, enabling them to grasp complex concepts and skills more intuitively. At the same time, advancements in intelligent robotics are progressing toward deep intelligence and multi-sensory interactions. These innovations not only enhance the diversity of STEM education but also align curricula more closely with the demands of modern industries.

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#### Policy Support
To achieve Hong Kong's vision of becoming a global hub for innovation and technology, drive new productivity, and foster sustainable economic growth, it is essential to cultivate a strong pool of innovation and technology talent. Government policy support plays a crucial role in advancing STEM education. For instance, the Education Bureau (EDB) actively promotes STEM education in primary and secondary schools to nurture students' innovative thinking and capabilities.

#### Crossover Cooperation
The Education Bureau collaborates with professional organizations and technology companies to strengthen STEM education in Hong Kong. By working with partners such as Cyberport and the Hong Kong Institution of Engineers, the EDB enhances teacher training and offers students a range of STEM activities, supporting the city's growth as an innovation-driven hub.

#### Development Trends of STEM and Robotics Programming Education Market in Hong Kong

#### Popularization of STEM Education
Hong Kong aims to promote the widespread adoption of STEM education by integrating it into the curriculum, enhancing students' ability to apply knowledge and skills across mathematics, science, and technology in an integrated way. Over the next three years, the government targets having 35% of UGC-funded students enrolled in STEM-related subjects, with 60% studying fields that align with Hong Kong's development as one of the "eight centres/hubs" outlined in the 14<sup>th</sup> National Development Plan.

#### Increasing Focus On Digital Literacy and Coding
As technology continues to evolve, digital literacy has become increasingly essential. Coding, computational thinking, and the use of digital tools are now integrated into the curriculum from an early age. To meet this demand, more resources are being allocated to coding education, robotics, and digital tools, both in schools and through extracurricular programs. This ensures that students develop the critical digital skills needed to succeed in the global market.

#### Collaborations Between Private Sector and Education
Enhanced collaboration between schools, universities, and the private sector will offer students valuable hands-on experience and insight into the real-world applications of STEM knowledge. Internship programs, mentorship opportunities, and partnerships with technology companies will become more prevalent, enabling students to better grasp the skills required in the workforce. These initiatives will also contribute to developing a strong talent pipeline for the technology sector.

#### Diversification In STEM-related Fields
The emphasis on diversification in STEM-related fields is growing as schools and universities expand their curricula to include areas such as artificial intelligence, biotechnology, data science, and green technology. This approach broadens students' skill sets and knowledge base, aligning their education with high-growth industries and preparing them for a competitive job market. By incorporating emerging disciplines, educational institutions equip students with both core STEM skills and specialized expertise, fostering the adaptability and innovation needed to meet future industry demands.

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#### Competitive Landscape of Hong Kong's STEM and Robotics Programming Education Market

#### Overview
The STEM and Robotics Programming Education market in Hong Kong is highly fragmented, predominantly made up of startup companies. These companies are often marked by their innovation and flexibility, allowing them to quickly adapt to evolving market trends and educational demands. In this competitive landscape, startups must consistently innovate and enhance their service quality to differentiate themselves and stay ahead.

![](timage_002.jpg)

#### Ranking of Robotics Programming Education Companies in Hong Kong
In 2024, as the major segment of STEM education in Hong Kong robotics programming education market experienced substantial growth, with the market size reaching HKD1,157.2 million. This growth highlights the growing adoption and importance of robotics programming education in Hong Kong's educational landscape. Among the many companies in the robotics programming education sector, the top ten enterprises held 25.0% of the market share, indicating a relatively low level of market concentration. The Company ranked second with a market share of 2.9% in 2024.

Figure: Ranking of Robotics Programming Education Companies (by sales revenue), Hong Kong, 2024

![](ttable_001.jpg)

*Source: Frost & Sullivan*

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#### Entry Barriers of STEM and Robotics Programming Education Market in Hong Kong
*Customer Resources*

From the B2B perspective — providing products and services to schools and educational institutions — established STEM education companies in Hong Kong have built strong, long-term partnerships with a wide network of schools, creating a stable service ecosystem and a solid reputation. For new entrants to break into this space, they must offer highly competitive courses and services that stand out from the offerings of established players. From the B2C perspective — offering products and services directly to students — new entrants face the challenge of building brand recognition and attracting customers. This requires a significant investment in marketing, time, and resources to promote their brand and establish credibility, all while capturing the attention of potential customers in a competitive market.

*Qualified Educators*

A major barrier to entry in the STEM and robotics programming education market is the shortage of qualified educators with specialized expertise in these fields. Even when suitable candidates are identified, companies face the challenge of investing significant time and resources to train them to meet the organization's specific educational standards and curriculum. Moreover, the high turnover rate within the education sector can further complicate this issue, leading to potential disruptions in teaching quality and operational consistency.

*Curriculum Content*

Developing effective STEM and robotics programming courses that strike the right balance between educational rigor and student engagement is a significant challenge. Companies must possess deep technical expertise as well as educational insights to create compelling, high-quality programs. Additionally, localization adds complexity to this process, as adapting content to align with local educational standards and policies requires considerable resources. Furthermore, the fast-paced evolution of robotics and programming technologies means that companies must constantly update their curriculum to ensure it remains relevant, competitive, and aligned with industry trends.

*Funding*

The initial investment required to develop curricula, build platforms, hire qualified staff, and implement marketing strategies is significant. Combined with the typically long path to profitability in the education sector, this creates substantial pressure on cash flow. Additionally, securing external financing can be challenging, as investors may be reluctant to support new entrants without a proven business model or established track record. This makes it difficult for new companies to secure the necessary capital to scale their operations effectively.

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#### BUSINESS

#### Our Mission
Our mission is to become a globally recognized provider of STEM and technological innovation education solutions. We hope to inspire learners to enjoy learning about advanced technologies, create a more engaged learning experience, focus on helping learners master technological knowledge with our products and services, and enable learners to acquire practical skills.

#### Overview
We are a leading provider of STEM and technological innovation education solutions. Idea Tech Holding Limited is a Cayman Islands holding company with no operation of its own. We conduct all our operations in Hong Kong through the Operating Subsidiary, Ask Idea. Our core business focuses on providing innovative training programs and high-quality educational products to meet the specific needs of our customers in Hong Kong.

The Company is an authorized distributor of drones and related products supplied under a distribution agreement with iFlight, a wholly owned subsidiary of DJI and, in turn, holds 100% of the equity interests in Shenzhen DJI, which is DJI's principal operating company in mainland China. While our agreement is not directly with DJI or Shenzhen DJI and does not provide for formal exclusivity, to our knowledge, we are a leading provider of DJI drone-based educational solutions in Hong Kong.

In addition, we are the exclusive authorized distributor of educational drones under the HuLa brand in Hong Kong under an agreement with High Great, and we also distribute to other geographic markets, including Malaysia, Taiwan, South Korea, and Thailand, on a non-exclusive basis. We were the exclusive regional distributor in Hong Kong for all HuLa products from January 1, 2024 to December 31, 2024, and are currently the exclusive authorized distributor of HG-F09 (HuLa) products from January 1, 2025 to December 31, 2025. We are also the exclusive authorized distributor in Hong Kong of BattleAce educational and competitive combat robots. Additionally, we offer training in AI robotics, emphasizing key learning points in machine learning and AI.

Our offerings extend beyond products and training. We organize competitions that combine competitive practice with technological concepts and problem-solving skills. Our competition events, such as the Artificial Intelligence Robotics Competition and the RoboMaster Youth Challenge, attract thousands of participants each year, showcasing our commitment to fostering a dynamic learning environment. In addition, we also regularly organize tech-themed study tours for students in mainland China, Hong Kong, and other countries. These tours expose participants to cutting-edge technologies, encourage cross-cultural exchanges among participants from different countries and regions, expand their global perspectives, and enhance their overall skill sets.

Through our diverse offerings, we aim to provide a comprehensive educational experience that nurtures innovation, critical thinking, and practical skills, equipping students for future success in an increasingly technology-driven world.

#### Milestones and Achievements

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| | | |
|:---|:---|:---|
|  &nbsp;&nbsp;&nbsp;&nbsp;*•* | ***2018*** | Ask Idea was established in Hong Kong and became an authorized distributor of DJI drones for educational purposes manufactured by DJI, one of the world's largest consumer drone manufacturers, in Hong Kong. It also became the exclusive educational partner of High Great in Hong Kong. Ask Idea launched its first series of educational programs, focusing on drone technology and coding courses. |
|  &nbsp;&nbsp;&nbsp;&nbsp;*•* | ***2019*** | Ask Idea partnered with the Hong Kong Education Bureau to provide teacher training programs, benefiting over 300 schools. Ask Idea co-hosted Hong Kong's first drone competition with the Hong Kong Science Park, Open University, and DJI, marking a significant step in integrating drone technology into local education. Ask Idea signed a collaboration agreement with ARKLAB, a Taiwanese startup, to introduce the MAKER series of drone courses, expanding our curriculum offerings. Additionally, Ask Idea successfully entered the kindergarten market by introducing electronic building blocks. |
|  &nbsp;&nbsp;&nbsp;&nbsp;*•* | ***2020*** | Ask Idea was invited by Cyberport Hong Kong, a government-owned digital technology hub that fosters innovation and entrepreneurship, to become a partner for its ESports Industry Facilitation Scheme and Esports Internship Scheme, further expanding our presence in the tech-education market.<br> Ask Idea also collaborated with the Alibaba Entrepreneurs Fund to co-host the RoboMaster 2020 Youth Challenge, establishing ourselves as the official education partner of Alibaba Entrepreneurs Fund in Hong Kong. |

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| | | |
|:---|:---|:---|
|  &nbsp;&nbsp;&nbsp;&nbsp;*•* | ***2021*** | Ask Idea pioneered an artificial intelligence robotics competition system in Hong Kong, which has since become an annual event involving over 300 schools. It also launched science and technology-themed study tours, providing participants with exposure to cutting-edge technology and fostering international exchange. Ask Idea partnered with the Singapore Science Centre and organized an international robotics competition, attracting participants from eight countries, including Singapore, Taiwan, and Australia. |
|  &nbsp;&nbsp;&nbsp;&nbsp;*•* | ***2022*** | This year, Ask Idea launched 3D printing robots in Hong Kong, drawing interest from the Education University of Hong Kong and the Hong Kong Productivity Council. These robots aim to teach machinery construction and material application, nurturing future leaders in engineering and construction fields. In addition, the Operating Subsidiary successfully organized another international robotics competition, welcoming participants from eight countries, including South Korea, Australia, and Singapore. The Operating Subsidiary also collaborated with local Hong Kong organizations such as Hong Kong Police, Civil Affairs Department, and various banks to expand its community engagement efforts. |

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In 2022, Ask Idea was merged with EDU Blockchain, a company incorporated under the law of Hong Kong as part of our business expansion. Through Ask Idea, we offer drone programming education and are authorized to sell DJI drones in Hong Kong. We have also collaborated with High Great in distributing educational drones under the HuLa brand, targeting the Hong Kong market and other geographic markets, including Malaysia, Taiwan, South Korea, and Thailand. Additionally, we also offer AI robotics, which emphasizes key learning points in machine learning and AI. Later in 2022, we launched 3D printing robots in Hong Kong, garnering attention from the Hong Kong Productivity Council (HKPC) and displayed the 3D printing robot at the HKPC TechEd Playground in 2023. Our 3D printing robots focus on teaching machinery construction and material application and nurturing future leaders with engineering and construction skills.

While we have built a solid customer base with our offering of products and training, which allows us to gain recognition and trust within the market, we have continued to develop and offer more solutions beyond just products and training. We also host competitions of different geographical scopes with thousands of participants every year. Our competitions combine competitive practice, technological concepts, problem-solving, and practical skills to inspire interest and passion for technological innovation. In 2019, we co-hosted the first drone competition in Hong Kong with the Hong Kong Science Park, Open University, and DJI. In 2021, we formally introduced the artificial intelligence robotics competition system to Hong Kong, which has since then become a major annual event with participation from over 300 schools. We have also launched science and technology-themed study tours in 2023, giving participants real-world exposure to cutting-edge technology, fostering exchanges among participants from different countries/regions, and broadening their global perspective.

For the fiscal years ended June 30, 2024 and 2023, our total revenues were approximately $4.58 million and $5.12 million, respectively. Revenues from sales of software and hardware products represented 58.21% and 57.1% of total revenues for the years ended June 30, 2024 and 2023, respectively. Revenues from STEM education training courses represented 36.28% and 36.23% of total revenues for the years ended June 30, 2024 and 2023, respectively. Revenues from other services, including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products, represented 5.51% and 6.67% of total revenues for the years ended June 30, 2024 and 2023, respectively.

For the six months ended December 31, 2024 and 2023, our total revenues were approximately $1,992,566 and $2,118,904, respectively. Revenues from sales of software and hardware products represented 53.40% and 63.29% of total revenues for the six months ended December 31, 2024 and 2023, respectively. Revenues from STEM education training courses represented 29.38% and 33.49% of total revenues for the six months ended December 31, 2024 and 2023, respectively. Revenues from other services, including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products, represented 17.22% and 3.22% of total revenues for the six months ended December 31, 2024 and 2023, respectively.

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#### Our Competitive Strengths
As one of the pioneers in the STEM and technological innovation education solution market in Hong Kong, we are confident that we are well-positioned to benefit from the global growth of STEM education and continue to grow our market share. While we believe the following competitive strengths differentiate us from our competitors, we acknowledge that each of these advantages may be subject to limitations and risks. See "Business — Our Challenges" on page 89 and "Risk Factors — Risks Related to Our Business and Industry" starting from page 18 for further details.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Experienced Management Team**. We are led by a dedicated and experienced management team with extensive industry experience in educational technology, school management, and strategic business development. The management's in-depth understanding of the educational technology sector allows us to effectively identify and respond to market needs while implementing innovative strategies that drive growth and operational excellence. Our CEO, Mr. Chun Ki Wan, has over six years of experience in the educational technology industry, specializing in strategic planning, educational technology integration, and business development. Before joining us, Mr. Wan served as Senior Marketing Manager at Times Publishing (Hong Kong) Limited, where he successfully led the exploration and development of the STEM school market for the Company. We believe our leadership's vision and operational expertise are instrumental in shaping our Company's strategic direction and supporting our continued growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **High Market Penetration Rate in Hong Kong**. We have established a strong presence in the educational technology market in Hong Kong, with our products and services reaching 35% of primary and secondary schools as of 2024. Our established relationships with leading technology companies such as iFlight and High Great help enhance our offerings and credibility.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Stable Relationships with Customers and Partners**. We have cultivated stable relationships with our customers and partners. Approximately 75% of our customers in 2024 also engaged with us in 2023. We believe this high retention rate reflects our ability to maintain trusted relationships. In addition, we have maintained stable and strong relationships with our partners and suppliers. This network of trusted partners and customers is a cornerstone of our business, supporting sustained growth and consistent performance in the market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Unique Product Offerings**. We offer one-of-a-kind education solutions, meeting customers' needs for innovation, advanced technology, and high-quality education. Additionally, as the authorized distributor of several leading technology companies such as iFlight and High Great, we offer distinctive drone programming education. This unique combination of cutting-edge technology and tailored educational content positions us as a leader in the educational technology market in Hong Kong.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Diverse Curriculum Aligned with Hong Kong Education Bureau Standards**. We design age-appropriate curricula across a wide range of subjects, from basic STEM to advanced technology, providing students with engaging and meaningful learning experiences that foster academic growth and practical competence. Our programs are aligned with standards established by the Hong Kong Education Bureau and have reached over 5,000 students in 345 schools as of 2024.

#### Our Challenges
We face a number of operational, financial, and market-based challenges that may impact our ability to achieve sustainable growth and compete effectively:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Changing Educational Priorities**. Our growth has benefited Hong Kong government initiatives that promote STEM education. However, any changes in government policies, funding allocations, or curriculum guidelines may reduce demand for our offerings or limit public-sector support. While our diversified offerings enhance our adaptability, we must continuously monitor and respond to changes in education policy, curriculum trends, and stakeholder expectations to ensure that our programs remain relevant and aligned with evolving market and regulatory demands.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Rapid Technological Advancements**. As a provider of STEM and technological innovation education solutions, we are constantly faced with the challenge of keeping up with innovation and meeting heightened user expectations due to rapid technological advancements. We must continuously update our products to stay relevant, which requires continuous investment in research and development.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Increasing Customer Expectations**. The shift in user demands and expectations may require us to recruit and retain qualified personnel and expand our service capabilities to align with evolving user needs, which often entail increased costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Reliance on Key Suppliers and Partners**. Our market position in Hong Kong is closely tied to our relationships with DJI and High Great. As an authorized distributor of DJI educational drones in Hong Kong, we have attracted a customer base interested in drone-based learning. Additionally, High Great's brand enhances the perceived quality of our educational content. However, these relationships are not guaranteed to continue in the long term, and any disruption, downgrade, or non-renewal of these established relationships could materially affect our ability to offer differentiated products, reduce our market competitiveness, and negatively impact our revenues. To mitigate this reliance, we are actively pursuing additional suppliers to diversify and strengthen our strategic foundation by leveraging our existing, extensive network.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Limited Operating History**. We commenced our education business in 2018 and have a limited track record at our current scale. As a young and growing company in a rapidly evolving industry, we may encounter difficulties in forecasting, scaling operations, and maintaining consistent revenue growth. Our historical performance may not be indicative of future results, especially as we expand into new markets and service models.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Risks Associated with International Expansion**. As we are seeking to expand into new geographic markets, we face exposure to foreign regulatory regimes, unfamiliar market dynamics, and operational complexities. Adapting our content and delivery methods to meet the expectations of diverse international audiences may require significant investment, and there is no assurance that our products and services will gain acceptance abroad.

#### Our Growth Strategies
Part of the proceeds from this Offering would be utilized to upgrade and expand our current operations. We have formulated different growth strategies for different segments of our business based on the following goals: (1) expanding our presence in hardware solutions such as drones and robots; (2) broadening our customer base from predominantly B2B (business-to-business, mostly targeting schools) to B2C (business-to-customer, mostly targeting parents and students); (3) organizing and participating in more international competitions to enhance our market visibility; while also (4) continuing our overseas business expansion. While we are optimistic in our long-term prospects, we recognize that executing our growth strategies entail material risks, including those related to regulatory uncertainties, operational challenges, and market acceptance. See "Business — Our Challenges" on page 89 and "Risk Factors — Risks Related to Our Business and Industry" starting from page 18 for further discussion.

We have developed a four-phase strategy to support our growth objectives:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Phase 1 — Expansion into Mainland China**. We plan to expand our presence across major cities in mainland China, including Beijing, Shanghai, and cities within the Greater Bay Area, through partnerships with local distributors. We acknowledge the different regulatory requirements, competitive landscape, and localization needs in each regional market, and intend to replicate our Hong Kong operating model with appropriate adaptations to address these challenges. To lower the barrier to entry and ensure regulatory compliance, we intend to cooperate with local distributors who are familiar with regional education policies and have established relationships with schools and education bureaus. These partnerships will allow us to leverage their existing networks, reduce operational risks, and accelerate our market penetration in a cost-effective manner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Phase 2 — Global Content Localization and Standardization**. To prepare for expansion into overseas market, we aim to tailor our AI and STEM programs to meet the requirements and expectations of global markets. This phase focuses on aligning our service and product offerings with international curriculum standards and cultural norms. Our success in executing Phase 2 will depend on our ability to invest in localization, establish new strategic partnerships, and ensure content relevance.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Phase 3 — Integration of Third**-party **Offline Hardware**. We plan to incorporate third-party offline hardware into our learning modules to offer hybrid learning experiences. This approach is intended to improve student engagement and learning outcomes. This strategy may increase customer engagement but also introduces technical challenges, including software compatibility, hardware standardization, quality control, and cost management.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Phase 4 — Business Expansion into Overseas Markets**. We plan to introduce our AI education offerings into select overseas markets, initially focusing on Southeast Asia. Our market entry strategies will include forming local partnerships, customizing content for regional education systems, and building brand awareness through marketing and participation in international competitions. Successful execution of Phase 4 will require us to navigate diverse regulatory regimes, cultural expectations, and competitive landscapes.

In addition, we plan to develop an integrated education platform focused on AI and programming that can serve as a central hub for students and educators. This platform will provide access to a wide range of educational resources, including online courses and certification programs, creating a space for continuous learning and professional growth. We believe this digital infrastructure will support continuous learning and long-term user engagement.

#### Our Business Model
Our business model consists of both business-to-business (B2B) and business-to-consumer (B2C) approaches, targeting both institutional and individual customers. On the B2B side, we focus on partnering with schools and local/regional organizations in Hong Kong, offering a range of technology educational products and services. This includes the sale of cutting-edge products like robotics and drones for educational purposes, offering of online and offline technology education courses, and organizing events, competitions and study tours. On the B2C side, we mostly target parents as our potential customers, offering technological education products aimed at enriching children's learning experiences. By catering to both schools and families, the company bridges formal and informal education, driving innovation in Hong Kong's educational landscape.

#### Our Products and Services
We offer the following products and services: (1) software and hardware products tailored for STEM education; (2) STEM education training courses; (3) hosting technology-focused competitions and events; (4) organizing technology-themed study tours; and (5) repair and maintenance for software and hardware products.

#### Software and Hardware Products
Since our initial launch in 2019, we have sold our hardware and software products to over 600 primary and secondary schools in Hong Kong. We offer drone programming education using DJI drones, which we procure through iFlight, which, to our understanding, is wholly owned subsidiary of DJI. While our agreement is not directly with DJI or Shenzhen DJI and does not provide for formal exclusivity, to our knowledge, we are a leading provider of DJI drone-based educational solutions in Hong Kong. In addition, we are the exclusive regional distributor in Hong Kong for educational drones under the HuLa brand, pursuant to our agreement with Shenzhen High Great Innovation Technology Co., Ltd., and we have expanded sales of these products to other markets, including Malaysia, Taiwan, South Korea, and Thailand.

Additionally, we provide AI educational robotics, which emphasizes key learning points in machine learning and AI. In 2022, we introduced 3D printing robots in Hong Kong, garnering attention from the Hong Kong Education University and the Productivity Council. Our 3D printing robots focus on teaching machinery construction and material application, nurturing future leaders with engineering and construction skills.

*DJI Tello Talent Programmable Drones*

DJI Tello Talent is an educational drone developed by DJI Education, designed to make learning about robotics and AI is accessible and engaging for students. It features an ESP32 open-source module, that supports Arduino and Micro Python programming environments, allowing a diverse range of programming methods, including graphical programming. The drone includes an RGB full-color LED indicator and an 8x8 red-and-blue LED dot-matrix screen, both of which can be controlled through various programming methods. It is also equipped with a Time-of-Flight (ToF) infrared ranging sensor which is used to measure distance and avoid obstacles and a 5MP HD camera for capturing stable, high-quality images during flight.

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*HuLa Programmable Drones*

The HuLa programmable drone is an innovative educational tool designed to make learning enjoyable and interactive for students. It integrates gaming and coding, enabling students to learn programming through engaging interactive challenges and laser battles. It employs graphical programming, making it easy for beginners to start coding before advancing to more complex tasks. Users can participate in exciting laser battles, develop flight skills, and strategize in real-time. The drone also supports pre-programmed formation flight shows, allowing users to create impressive aerial displays. Equipped with infrared sensors for obstacle detection and a 1080p camera for capturing clear and stable flight footage, the HuLa drone provides a comprehensive suite of educational resources to support coding education and smart flying.

![](timage_003.jpg)

*HuLa Drone Programming Software*

HuLa EDU app is a full-featured drone-related educational mobile app designed to enhance the learning experience with HuLa drones. It allows users to control drones in real-time using a virtual joystick with high-definition image transmission. The app supports block-based programming, enabling users to build and simulate flight programs, making programming concepts more engaging and interactive. The app also includes multiplayer competition modes to encourage teamwork and strategic thinking. Users can view and download images and videos captured by the drone. Flight controls and parameters are customizable to create a personalized flying experience. Additionally, the app offers game-based programming challenges, making learning both fun and educational. Furthermore, it supports multiple languages, including Japanese, expanding accessibility to a wider audience.

*AI Education Software*

Our AI education software provides a comprehensive solution for integrating AI education into primary and secondary schools. It supports AI implementation on campuses through a structured K-12 double-helix curriculum, an AI education platform, and an IT teacher training program. We also enhance AI teaching environments by developing and implementing immersive AI laboratories, improving the quality of AI education in schools.

*Integrated STEM Learning Solutions*

DJI RoboMaster EP

The DJI RoboMaster EP is an advanced educational robot designed to introduce students to robotics, programming, and AI. This dynamic system is valuable for both educators and learners, offering hands-on experiences that bridge the gap between theoretical learning and real-world AI applications. The DJI RoboMaster EP features omnidirectional movement, a gel bead launcher for interactive gaming, and first-person view (FPV) driving for immersive learning. It supports multiple programming environments, including Python and Windows, enabling students to explore coding and AI development.

BattleAce Educational and Competitive Combat Robot ("BattleAce")

The BattleAce is an educational and competitive combat robot designed for both educational purposes and hobbyists. It is ideal for individuals interested in robotics, engineering, and combat-based activities.

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One of BattleAce's standout features is its high-speed rotating weapons, which generate significant kinetic energy and demonstrate impressive destructive power. Equipped with the high-speed rotating weapons, it delivers powerful attacks with exceptional mobility during combat. Most of BattleAce's components can be manufactured using 3D printing technology, making it a cost-effective option with easily replaceable parts in case of damage. It also comes with educational kits that include assembly instructions and components, making it particularly beneficial for beginners and educational purposes. Additionally, BattleAce can be upgraded and customized with different parts and components, enhancing its potential for advanced robotics applications.

For the years ended June 30, 2024 and 2023, revenue generated from our provision of software and hardware products accounted for approximately 58.21% and 57.1% of our total revenue, respectively. For the six months ended December 31, 2024 and 2023, revenue generated from our provision of software and hardware products accounted for approximately 53.40% and 63.29% of our total revenue, respectively.

#### Our Services
*STEM Education Training*

We provide STEM training with the goal of cultivating innovation and technology skills among teachers, parents, social workers, and students. In collaboration with the Hong Kong government and local schools, we promote and enhance technology education by integrating it into the curriculum and training programs.

To encourage the widespread adoption of technology education, we employ various training formats, including on-campus sessions, which have reached over 300 primary and secondary schools in Hong Kong. Our courses can be conducted both on-campus and off-campus and are offered in multiple formats, ranging from one-to-many sessions to personalized one-on-one instruction. Additionally, we provide flexible learning options through both online and offline platforms, ensuring accessibility for all students. Our goal is to leverage technology as a teaching medium, allowing students to develop practical skills through hands-on applications in everyday life.

For the years ended June 30, 2024 and 2023, revenue generated from our provision of STEM training courses accounted for approximately 36.28% and 36.23% of our total revenue, respectively. For the six months ended December 31, 2024 and 2023, revenue generated from our provision of STEM training courses accounted for approximately 29.38% and 33.49% of our total revenue, respectively.

#### Other Events
*Major Competitions and Events*

Since 2019, we have hosted and organized multiple major competitions and events, with over 8,000 students aged from eight to sixteen participating each year. These competitions and events focus on topics such as machine learning, AI, robotics, 3D printing, and other emerging technologies. Our objective is to foster problem-solving skills, encourage the application of technological concepts in competitive settings, and spark students' enthusiasm for technology education. This year, we plan to host an international competition on Drone Coding Challenge inviting 500 participants from Singapore, Taiwan, South Korea, Thailand, Malaysia and Macau to compete in Hong Kong.

*Technology-themed Study Tours*

We regularly organize tech-themed study tours for students in mainland China, Hong Kong, and other countries. These study tours expose students to cutting-edge technologies, facilitate cross-cultural exchanges, broaden global perspectives, and enhance their comprehensive skill sets.

*Repair and maintenance services for software and hardware products*

Our company, specializing in drones and robotics, maintains a robust and comprehensive approach to both maintenance services for our clients and quality control with our suppliers, reflecting our commitment to excellence and reliability across all operational domains.

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In terms of maintenance services, we provide tailored support to our clients, segmented into software and hardware components. For software or firmware-related issues, we assign dedicated personnel to work closely with clients, offering solutions such as reflashing software to factory settings when necessary. Additionally, we collect system logbooks to analyze software errors, either resolving them internally or collaborating with suppliers to address root causes. This ensures that each software update is continuously optimized for performance and stability. On the hardware side, we offer repair services for components such as motors and gimbals, to maintain high-quality support and client satisfaction.

As the important part of our comprehensive service, the company provide the extension of maintenance service that is beyond the warranty period or scope of the product of the vendor or manufacturer, which is to be paid by the customers subject to the Company's separate quotations.

Revenue from the provision of other services primarily comes from hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products. For the years ended June 30, 2024 and 2023, revenue generated from our provision of other services accounted for approximately 5.51% and 6.67% of our total revenue, respectively. For the six months ended December 31, 2024 and 2023, revenue generated from our provision of other services accounted for approximately 17.22% and 3.22% of our total revenue, respectively.

#### Our Suppliers
We work with a network of reputable suppliers to source the high-quality materials and components needed for our diverse range of educational products. Our key suppliers include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• iFlight Technology Company Limited ("iFlight"): iFlight provides us with DJI drones and drone parts and accessories, which we use in the development and customization of our educational drone kits. All contractual obligations and rights regarding DJI drone distribution are established through the agreement with iFlight<sup>2</sup>. Ask Idea enters into a standard form dealership agreement with iFlight on an annual basis. These agreements typically provide for ordering and pricing procedures via iFlight's dealer platform, prepayment terms (unless otherwise agreed), and delivery terms. Ask Idea is generally responsible for marketing, sales, and after-sales service. The agreements customarily include compliance obligations relating to export controls, and grant ASK Idea a limited, non-exclusive license to use iFlight's trademarks for promotional purposes. The form of this agreement is filed as Exhibit 10.7 to this registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Next Education Limited ("Next"): Next specializes in the provision of educational services, tutor training, and curriculum management. Next assists us in sourcing exceptional mentors in STEM education, who are instrumental in delivering on-site instruction and engaging directly with partner schools. These mentors enable us to tailor training programs to the specific needs and curriculum standards of each school. Through ongoing communication with school administrators and teachers, they gather feedback and offer insights that inform the continuous improvement of our offerings. The Company enters into direct contractual agreements with selected mentors, who are engaged as independent contractors and operate under the Company's supervision during their assignments. Pursuant to the cooperation agreement with Next dated January 3, 2024, we are responsible for project oversight and support, while Next is responsible for recruiting and training tutors, delivering on-site tutoring services, developing teaching materials, organizing STEAM-related competitions, and monitoring course quality. We pay service fees to Next ranging from 10% to 30% of the project revenue, determined based on factors such as teaching location, urgency, number of tutors and students, and course duration. The cooperation agreement has a term of three years, expiring on January 2, 2027. A copy of this cooperation agreement is filed as Exhibit 10.8 to this registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shenzhen High Great Innovation Technology Development Co., Ltd. ("High Great"): We are an exclusive authorized distributor of HG-F09 (HuLa) products in Hong Kong. We were the exclusive regional distributor in Hong Kong for HuLa products from January 1, 2024 to December 31, 2024. Pursuant to the procurement agreement with High Great dated November 8, 2024, for the exclusive regional distribution of the HG-F09

____________

2 Based on publicly available corporate information, iFlight is a wholly owned subsidiary of DJI Company Limited and, in turn, holds 100% of the equity interests in Shenzhen DJI Innovations Technology Co., Ltd., which is DJI's principal operating company in mainland China.

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HuLa product in Hong Kong, we are authorized to independently conduct market sales activities and are responsible for local sales, after-sales support, and technical services. We have committed to purchasing a total of 6,000 units annually at a unit price of RMB 999, with two separate orders of 3,000 units each to be placed by January and July 2025. A performance deposit of RMB 30,000 is required to ensure compliance with regional sales restrictions. The agreement has a one-year term from January 1, 2025 to December 31, 2025. The form of this agreement is filed as Exhibit 10.9 to this registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Feiyang Meta Technology Limited ("Feiyang"): Feiyang provides us with DJI drones, accessories and drone teaching suites. We do not maintain a long-term supply agreement with Feiyang. Instead, we procure goods from Feiyang on a purchase order basis. Each purchase order specifies the details of the goods to be purchased, including product names, specifications, quality, price, and quantity. Unless otherwise agreed in a specific purchase order, the payment terms provide that 30% of the total purchase amount is payable within 90 days after the purchase order is confirmed, and the remaining 70% is payable within 180 days of confirmation. The Sales and Purchase Contract (form of purchase order included) is filed as Exhibit 10.10 to this registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• X-Mind (Shenzhen) Technology Co., Ltd. ("X-Mind"): We are authorized by X-Mind to distribute "BattleAce" combat robotics products with its "Xuanzhi" brand (including but are not limited to M Series, E1 Pro, IE-1, BATTLEACE Space and other related accessories) in Hong Kong, serving as X-Mind's exclusive distributor on youth education initiatives in the authorized region of Hong Kong. We have also been granted by X-Mind the right to organize regional competitions for "BattleAce" combat robotics in Hong Kong

We maintain strong relationships with our suppliers to ensure a stable supply chain and consistent quality for our products. In addition to these key suppliers, we keep on seeking new potential suppliers to expand and enhance our educational initiatives.

For the six months ended December 31, 2024, and 2023, our total procurement costs amounted to approximately $0.93 million and $1.2 million, respectively. For the six months ended December 31, 2024, the five suppliers listed above represented 15.67%, 5.93%, 21.09%, 0% and 11.54% of our total cost of revenues, respectively. For the six months ended December 31, 2023, the five suppliers listed above represented 58.26%, 6.77%, 0%, 0% and 4.42% of our total cost of revenues, respectively.

For the fiscal years ended June 30, 2024, and 2023, our total procurement costs amounted to approximately $2.66 million and $2.40 million, respectively. For the fiscal year ended June 30, 2024, the five suppliers listed above represented 43.98%, 7.88%, 12.71%, 0% and 5.14% of our total cost of revenues, respectively. For the fiscal year ended June 30, 2023, the five suppliers listed above represented 38.15%, 19.18%, 0%, 17.92% and 3.59% of our total cost of revenues, respectively.

#### Our Customers
The majority of our customers are schools. For the six months ended December 31, 2024 and 2023, and the fiscal year ended June 30, 2024 and 2023, none of our customers accounted for approximately 10% or more of our total revenue, respectively.

#### Geographical coverage
Our revenues are derived from Hong Kong subsidiaries and our services and products are mainly offered to customers based in Hong Kong and a small portion is provided to customers overseas through our partners. As our brand gradually becomes more well-known, we aspire to further expand our operations to Southeast Asia and eventually the global markets.

The following table sets forth a breakdown of our revenues by geographic area.

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the year ended June 30,** | **For the year ended June 30,** | **For the year ended June 30,** | **For the year ended June 30,** |
|  | **2024** | **2024** | **2023** | **2023** |
|  | **US$** | **%** | **US$** | **%** |
|  Hong Kong | 4535741 | 99.08% | 5123511 | 100.00% |
|  Other countries | 42072 | 0.92% |  | 0.00% |
|  **Total** | **4577813** | **100.00%** | **5123511** | **100.00%** |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the six months ended December 31,** | **For the six months ended December 31,** | **For the six months ended December 31,** | **For the six months ended December 31,** |
|  | **2024** | **2024** | **2023** | **2023** |
|  | **US$** | **%** | **US$** | **%** |
|  Hong Kong | 1937493 | 97.24% | 2103956 | 99.29% |
|  Other countries | 55073 | 2.76% | 14948 | 0.71% |
|  **Total** | **1992566** | **100.00%** | **2118904** | **100.00%** |

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#### Marketing and Sales
We have strategically focused on B2B and B2C models, that help us maximize the reach of our products and services swiftly and effectively. As we strive to enhance our brand recognition and awareness, we have adopted a region/school-based marketing approach to promote our brand and products. For example, we have organized regional challenge competitions in various districts of Hong Kong, including Yuen Long District, Tin Shui Wai District, Sha Tin District, Wan Chai District, Sai Kung District, and Kwun Tong District. Additionally, we host inter-school competitions at different primary and secondary schools.

#### Quality Control
We maintain rigorous standards through proactive collaboration with our suppliers. Beyond conducting random sampling to verify that their products meet specifications, we also require suppliers to provide relevant certifications to ensure compliance with our quality requirements. Should any product issues arise in the market post-deployment, we take immediate action by replacing the affected items for clients — such as schools — and conducting a thorough analysis of the problem. These findings are then communicated to the supplier with specific recommendations for quality improvements, ensuring a continuous enhancement of product standards.

#### Properties
As of the date of this prospectus, we have entered into the following lease agreements:

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| | | | |
|:---|:---|:---|:---|
|  **Location** | **Term** | **Use of Property** | **Rent** |
|  Unit 721, Level 7, <br>Cyberport 1, 100 Cyberport Road, <br>Hong Kong | September 1, 2021 – August 31, 2027 | General office purposes | HK$30,275/month (approx. US$3,877) |
|  Shop 106, Level 1 of the Arcade, Cyberport, <br>No. 100 Cyberport Road, Pokfulam, Hong Kong | June 1, 2025 – May 31, 2027 | Store and demonstration | HK$4,590/month (approx. US$588) |
|  Shop 107, Level 1 of the Arcade, Cyberport, <br>No. 100 Cyberport Road, Pokfulam, Hong Kong | June 1, 2025 – May 31, 2027 | Store and demonstration | HK$9,900/month (approx. US$1,268) |

---

#### Intellectual Property
As of the date of this prospectus, our subsidiary, Ask Idea, is authorized to use the following domain name: ASKIDEAGROUP.COM.HK, registered on July 27, 2023, and expiring on July 26, 2026.

#### Employees
Our success depends on our ability to attract, motivate, train, and retain qualified personnel. We believe we offer our employees competitive compensation packages and an environment that encourages self-development and creativity. We enter into standard employment agreements with our employees. All of our employees are employed under employment contracts that set out fully, among other things, the employees' responsibilities, remuneration, and grounds for termination of employment. The remuneration packages of our employees include salary and

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bonus. Generally, employee salaries are determined based on the employees' qualifications, experience, position, and seniority. Our employment agreements with our senior management include standard confidentiality clauses and non-compete clauses. We assess our employee remuneration on an annual basis to determine whether any bonus or salary adjustments are required to be made.

As of the date of this prospectus, we have 9 full-time employees. We had 9, 10 and 10 employees as of December 31, 2024, June 30, 2024 and 2023, respectively. All of our employees are based in Hong Kong.

We believe we maintain good working relationships with our employees and do not foresee any difficulties in the recruitment and retention of experienced staff. As of the date of this prospectus and during the fiscal years ended June 30, 2024 and 2023, we have not experienced any material labor disputes in the past.

#### Insurance
Ask Idea maintains employees' compensation insurance for its employees in accordance with the laws and regulations in Hong Kong. We do not maintain business interruption insurance or key person insurance.

As of the date of this prospectus, and during the six months ended December 31, 2024 and the fiscal years ended June 30, 2024 and 2023, Ask Idea has not been subject to nor received any insurance claims.

#### Seasonality
Our operating results historically have not been subject to seasonal variations.

#### Legal Proceedings
From time to time, we are subject to legal proceedings, investigations, and claims incidental to the conduct of our business. We record a liability when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. As of the date of this prospectus, we are not involved in any legal or administrative proceedings that may have a material adverse impact on our business, balance sheets or results of operations and cash flows other than as described herein.

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#### REGULATIONS

#### Regulations Related to Our Business Operations in Hong Kong
The national laws adopted by the PRC are generally not applicable to Hong Kong according to the Basic Law. The Basic Law came into effect on July 1, 1997. It is the constitutional document of Hong Kong, which sets out the PRC's basic policies regarding Hong Kong. The principle of "one country, two systems" is a prominent feature of the Basic Law, which dictates that Hong Kong will retain its unique common law and capitalist system for 50 years after the handover in 1997. Under the principle of "one country, two systems," Hong Kong's legal system, which is different from that of the PRC, is based on common law, supplemented by statutes. According to Article 18 of the Basic Law, national laws adopted by the PRC shall not be applied in Hong Kong, except for those listed in Annex III to the Basic Law, such as the laws in relation to the national flag, national anthem, and diplomatic privileges and immunities.

#### Overview
Our operations are subject to various laws and regulations in Hong Kong where we operate. This section sets out a summary of certain aspects of Hong Kong laws and regulations which are relevant to our Group's operations and business.

#### Regulations Related to Business Registration
The Business Registration Ordinance (Chapter 310 of the Laws of Hong Kong) requires every person carrying on any business to make application to the Commissioner of Inland Revenue in the prescribed manner for the registration of that business. The Commissioner of Inland Revenue must register each business for which a business registration application is made and as soon as practicable after the prescribed business registration fee and levy are paid, issue a business registration certificate or branch registration certificate for the relevant business or the relevant branch as the case may be. As of the date of this prospectus, each of Ask Idea and Idea Tech HK has obtained and maintains a valid business registration certificate.

#### Regulations Related to Supply of Goods
As we sell hardware and software products to primary and secondary schools in Hong Kong, we are required to comply with the relevant provisions under the Sale of Goods Ordinance (Chapter 26 of the Laws of Hong Kong), which aims to codify the law relating to the sale of goods provides that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) under section 15, where there is a contract for the sale of goods by description, there is an implied condition that the goods shall correspond with the description;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) under section 16, where a seller sells goods in the course of a business, there is an implied condition that the goods supplied under the contract are of merchantable quality, except that there is no such condition (i) as regards defects specifically drawn to the buyer's attention before the contract is made; or (ii) if the buyer examines the goods before the contract is made, as regards defects which examination ought to reveal; or (iii) if the contract is a contract for sale by sample, as regards defects which would have been apparent on a reasonable examination of the sample; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) under section 17, where there is a contract for sale by sample, there are implied conditions that (i) the bulk shall correspond with the sample in quality, (ii) the buyer shall have a reasonable opportunity of comparing the bulk with the sample, and (iii) the goods shall be free from any defects, rendering them unmerchantable, which would not be apparent on reasonable examination of the sample.

Where any right, duty or liability arises under a contract of sale of goods by implication of law, it may (subject to the Control of Exemption Clauses Ordinance (Chapter 71 of the Laws of Hong Kong)) be negatived or varied by express agreement, or by course of dealings between the parties, or by usage if the usage is such as to bind both parties to the contract.

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#### Regulations Related to Supply of Services
Apart from the sale of goods, we also provide training services and event hosting and organizing services. Accordingly, we are also subject to the Supply of Services (Implied Terms) Ordinance (Chapter 457 of the Laws of Hong Kong), which aims to consolidate and amend the law with respect to the terms to be implied in contracts for the supply of services (including a contract for the supply of a service whether or not goods are also transferred or to be transferred, or bailed or to be bailed by way of hire under the contract) provides that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) under section 5, where the supplier is acting in the course of a business, there is an implied term that the supplier will carry out the service with reasonable care and skill; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) under section 6, where the supplier is acting in the course of a business, the time for service to be carried out is not fixed by the contract, is not left to be fixed in a manner agreed by the contract or is not determined by the course of dealing between the parties, there is an implied term that the supplier will carry out the service within a reasonable time.

Where a supplier is dealing with a party to a contract for supply of service who deals as a consumer, the supplier cannot, by reference to any contract term, exclude or restrict any liability of his arising under the contract by virtue of the Supply of Services (Implied Terms) Ordinance. Otherwise, where any right, duty or liability would arise under a contract for the supply of a service by virtue of the Supply of Services (Implied Terms) Ordinance, it may (subject to the Control of Exemption Clauses Ordinance) be negatived or varied by express agreement, or by the course of dealing between the parties, or by such usage as binds both parties to the contract.

#### Regulations Related to Data Privacy
The collection and processing of personal data in Hong Kong are governed by PDPO.

The PDPO provides the principles that a data user must follow in any acts concerning personal data (the "**Data Protection Principles**"). Personal data refers to any data (a) relating directly or indirectly to a living individual; (b) from which it is practicable for the identity of the individual to be directly or indirectly ascertained; and (c) in a form in which access to or processing of the data is practicable.

The Data Protection Principles are summarized as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Principle 1 — Purpose and manner of collection of personal data. This provides for the lawful and fair collection of personal data and sets out the information a data user must give to a data subject when collecting personal data from that subject.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Principle 2 — Accuracy and duration of retention of personal data. This provides that personal data should be accurate, up-to-date and kept no longer than necessary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Principle 3 — Use of personal data. This provides that unless the data subject gives consent otherwise personal data should be used for the purposes for which they were collected or a directly related purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Principle 4 — Security of personal data. This requires appropriate security measures to be applied to personal data.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Principle 5 — Information to be generally available. This provides for openness by data users about the kinds of personal data they hold and the main purposes for which personal data are used.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Principle 6 — Access to personal data. This provides for data subjects to have rights of access to and correction of their personal data.

Contravention with the Data Protection Principles may entitle the Privacy Commissioner for Personal Data to issue a written notice directing the data user to remedy and prevent recurrence of contravention. Contravention with the above notice is an offence and the offender is liable on (i) first conviction to a fine HK$50,000 and to imprisonment for two years, and if the offence continues after the conviction, to a daily penalty of HK$1,000; and (ii) second or subsequent conviction to a fine at HK$100,000 and to imprisonment for two years, and if the offence continues after the conviction, to a daily penalty of HK$2,000. It is a defense to the above offence if the data user shows that he exercised all due diligence to comply with the enforcement notice. Advised by our Hong Kong counsel, Bird & Bird,

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we are of the view that we are not likely to be in breach of the PDPO for the following reasons: (i) all of our customers are institutional users who are using our products and services without the need of providing the personal information of individuals, and (ii) we possess minimum amount, if not none of the personal information in our business operations.

#### Regulations Related to Hong Kong Taxation
*Profits Tax*

Pursuant to the Inland Revenue Ordinance (Chapter 112 of the Laws of Hong Kong) ("**IRO**"), profits tax shall be charged for each year of assessment at the standard rate on every person carrying on a trade, profession or business in Hong Kong in respect of his assessable profits arising in or derived from Hong Kong for that year from such trade, profession or business.

Under the two-tiered profits tax rates regime set out in Schedule 8B to the IRO. The IRO Amendment Bill was signed into law on 28 March 2018. Under the two-tiered profits tax rates regime, the first HK$2 million of profits of the qualifying group entity will be taxed at 8.25%, and profits above HK$2 million will be taxed at 16.5%. The profits of group entity not qualifying for the two-tiered profits tax rates regime will be continued to be taxed at a flat rate of 16.5%. Accordingly, starting from the year of assessment 2018/19, the Hong Kong profits tax is calculated at 8.25% on the first HK$2 million of the estimated assessable profits and at 16.5% on the estimated assessable profits above HK$2 million for the qualifying group entity.

#### Regulations Related to Intellectual Property
*Copyright Law*

Under the Copyright Ordinance (Chapter 528 of the Laws of Hong Kong), the copyright in a work gives the copyright owner the exclusive right to, among other things, reproduce or issue copies of the work to the public. It is an infringement for a third party to do those acts without the consent of or a licence from the copyright owner. If an infringement occurs, the copyright owner can bring an action seeking damages or an injunction to restrain the unauthorised copying. A copyright tribunal comprising members from different sectors of the community has been established to handle copyright licensing disputes and ensure a balancing of interests. The copyright tribunal is established pursuant to section 169 of the Copyright Ordinance and its scope includes deciding disputes relating to licences offered by, or licensing schemes operated by licensing bodies in the copyright and related area.

Pursuant to the Copyright Ordinance, provision is made to protect copyright works of computer programmes. Our Group has not registered the copyright of its software systems in Hong Kong as there is no formal procedure to register copyrights of computer software system in Hong Kong. Should there be any formal procedure to register copyright of computer software system in Hong Kong in the future, our Group may consider registering the copyright of its software systems in Hong Kong.

*Trade Mark Law*

The Trade Marks Ordinance (Chapter 559 of the Laws of Hong Kong) is a legislative enactment that aims to establish regulations pertaining to the registration of trademarks and other related matters. A person infringes a registered trade mark if the person uses in the course of trade or business with a sign which is (a) identical to the trade mark in relation to goods or services which are identical to those for which it is registered; (b) identical to the trade mark in relation to goods or services which are identical or similar for those for which it is registered, and the use of the sign in relation to those goods or services is likely to cause confusion on the part of the public; (c) similar to the trade mark in relation to goods or services which are identical or similar to those for which it is registered, and the use of the sign in relation to those goods or services is likely to cause confusion on the parts of the public; or (d) identical or similar mark in relation to goods or services which are not identical or similar to those for which the trade mark is registered, where the trade mark is entitled to protection under the Paris Convention as a well-known trade mark, and the use of the sign, being without due cause, takes unfair advantages of, or is detrimental to, the distinctive character or repute of the trade mark.

Pursuant to the Trade Marks Ordinance, the owner of a trade mark is entitled to bring infringement proceedings against a person infringing his or her or its trade mark for damages, injunctions, accounts and any other relief available in law.

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#### Regulations Related to Employment
*Employment Ordinance (Chapter 57 of the Laws of Hong Kong)*

All of our employees are based in Hong Kong and we are subject to the Employment Ordinance. The Employment Ordinance provides for various employment-related benefits and entitlements to employees. Pursuant to the Employment Ordinance, all employees covered, irrespective of their hours of work, are entitled to basic protection including payment of wages, restrictions on wages deductions and the granting of statutory holidays, etc. Employees who are employed under a continuous contract are further entitled to benefits such as rest days, paid annual leave, sickness allowance, severance payment and long service payment, etc.

*Employees' Compensation Ordinance (Chapter 282 of the Laws of Hong Kong) ("ECO")*

The ECO establishes a no-fault and non-contributory employee compensation system for work injuries and sets out, among others, the rights and obligations of employers and employees in respect of injuries or death caused by accidents arising out of and in the course of employment. If an employee sustains injuries or dies as a result of an accident arising out of and in the course of employment, the employer is generally liable to pay compensation even if the employee might have committed acts of faults or negligence when the accident occurred.

Pursuant to section 40 of the ECO, all employees are required to take out insurance policies to cover their liabilities for injuries at work in respect of all their employees. An employer who fails to comply with the aforementioned is liable on conviction upon indictment to a fine at level 6 and to imprisonment for two years. As of the date of this prospectus, there has not been any employee compensation action against the Company.

*Mandatory Provident Fund Schemes Ordinance (Chapter 485 of the Laws of Hong Kong) ("MPFSO")*

Under the MPFSO, employees must participate in a Mandatory Provident Fund, which is a defined contribution retirement plan administrated by independent trustees, for its employees employed under the Hong Kong Employment Ordinance (Chapter 57 of the Laws of Hong Kong). We, as the employer and its relevant employee, are each required to make contributions to the scheme at 5% of the relevant employees' relevant income, including any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance expressed in monetary terms, paid or payable by the employer to the relevant employee in consideration of his employment.

*Minimum Wage Ordinance (Chapter 608 of the Laws of Hong Kong) ("MWO")*

The prescribed minimum hourly wage rate (currently set at HK$42.1 per hour) during the wage period for every employee is governed by the MWO. Any provision of employment contract which purports to extinguish or reduce the right, benefit or protection conferred on the employee under the MWO is void.

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#### MANAGEMENT
The following individuals are members of our board of directors and management of the Company.

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| | | |
|:---|:---|:---|
|  **Directors and Executive Officers** | **Age** | **Position/Title** |
|  Xiaoke Luo | 42 | Chairman of the Board, Director |
|  Chun Ki Wan | 56 | Chief Executive Officer, Director |
|  Weiqing He | 60 | Chief Financial Officer, Director |
|  Ho Kit Hui | 43 | Chief Operation Officer |
|  Jinyu Yang\*<sup>(1)(2)(3)</sup> | 36 | Independent Director Nominee |
|  Yiyun Wang\*<sup>(1)(2)(3)</sup> | 43 | Independent Director Nominee, Chair of Nominating and Corporate Governance Committee |
|  Chuanping Pan\*<sup>(1)(2)(3)</sup> | 58 | Independent Director Nominee, Chair of Compensation Committee |
|  Chung Shun Lee\*<sup>(1)(2)(3)</sup> | 48 | Independent Director Nominee, Chair of Audit Committee |

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____________

\* Has agreed to act as our independent director immediately upon the Company's listing on the Nasdaq Capital Market.

(1) Member of the Nominating and Corporate Governance Committee.

(2) Member of the Compensation Committee.

(3) Member of the Audit Committee.

The following is a brief biography of each of our current directors, executive officer appointees, and director nominees:

#### Xiaoke Luo, Chairman of the Board and Director
**Xiaoke Luo** is our Chairman of the Board and Director. He has also served as the Director and Chairman of the board of directors at EDU Blockchain Limited since October 2021, where he is mainly responsible for strategic management and long-term development planning. From January 2024 to the present, he has served as the Managing Director of HK Education Culture Ltd., overseeing business coordination and project expansion. From December 2021 to October 2023, he served as the Deputy Director at HK Financial Services Institute, managing daily operations and business growth. From September 2019 to October 2021, he was a Marketing Manager at Peiport Holdings Ltd., a company listed on the Main Board of The Stock Exchange of Hong Kong Limited (HKEx) (HKEx: 2885), where he was responsible for market promotion, business coordination, and branch planning across Hong Kong, Mainland China, and Southeast Asia. Mr. Luo obtained a Master's degree in Control Theory and Control Engineering in 2007 and a Bachelor's degree in Automation in 2005, both from Zhejiang University. We believe that Mr. Luo is well-qualified to serve as our Chairman based on his extensive leadership experience in business coordination, project expansion, and operational management across multiple industries, along with his strong academic background in engineering and automation from Zhejiang University.

#### Chun Ki Wan, Chief Executive Officer and Director
**Chun Ki Wan** is our Chief Executive Officer and Director. He has also served the Director and CEO of Ask Idea, our Operating Subsidiary, since March 2020 and the Director of EDU Blockchain since January 2024. In this role, he is responsible for major corporate decisions, setting and executing strategic direction, supervising executives, and overseeing growth initiatives. Previously, he was a Senior Marketing Manager at Times Publishing Group from 1998 to 2020, where he led the marketing team, developed strategies, and organized key events such as seminars and book fairs. Mr. Wan has extensive experience in the education publishing and educational technology sectors, with a strong professional network in Hong Kong and international markets. He obtained an MBA from the University of Newcastle in 2001 and a Bachelor of Business Administration from La Trobe University in 1999. We believe Mr. Wan is well-qualified to serve as our CEO and director due to his extensive leadership and management experience in corporate strategy, marketing, and business development in the education publishing and educational technology sectors, along with his strong professional network in Hong Kong and international markets.

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#### Weiqing He, Chief Financial Officer and Director
**Weiqing He** is our Chief Financial Officer and Director. He previously served as the Chief Financial Officer of EDU Blockchain from March 2024 to March 2025. He is mainly responsible for the accounting and financial affairs for both companies since March 2024. With over a decade of experience in financial management, corporate governance, and investment management, particularly in the Hong Kong capital markets, Mr. He has held key leadership roles across multiple organizations. From November 2021 to September 2023, he served as Accounting Manager, CFO, Executive Director, CEO and Chairman of the board of directors at RMH Holdings Ltd, a company listed on the Growth Enterprise Market (GEM) of HKEx (HKEx: 08437), where he performed a variety of leadership roles at different stages. From July 2020 to October 2021, he worked as a freelance consultant on Hong Kong listing affairs. Previously, from December 2017 to June 2020, he served as the Executive Director and Chairman of the Investment Committee at Grand Peace Group Holdings Ltd, a company listed on the GEM of HKEx (HKEX: 08108), where he co-managed investment projects. From September 2015 to November 2017, he served as the Vice President at Long Success International (Holdings) Limited, where he was mainly responsible for project management. From July 2011 to August 2015, he served as the Deputy CEO, Chief Investment Officer, and Member of Investment Committee at Opes Asia Development Limited, a company listed on the Main Board of HKEx (currently known as China Castson 81 Finance Company Limited) (HKEx: 0810), where he was mainly responsible for investment project management and securities portfolio management. His professional qualifications include certifications in accounting, securities, and asset management, from the Hong Kong Securities Institute (HKSI) and the Securities Association of China (SAC). He earned a Master's degree in Business Management in 1989 and a Bachelor's degree in Meteorology from Sun Yat-sen University in 1986. We believe Mr. He is well-qualified to serve as our CFO and director due to his extensive leadership experience in financial management, corporate governance, and investment management, particularly in the Hong Kong capital markets, along with his professional certifications and executive roles in publicly listed companies.

#### Ho Kit Hui, Chief Operating Officer
**Ho Kit Hui** is our Chief Operating Officer. In this role, he oversees the daily administrative and operational functions, implements business strategies, establishes recruitment standards, evaluates marketing efforts, and optimizes business workflows to enhance productivity. He also currently serves as the director of EDU Blockchain. Previously, Mr. Hui served as General Manager of Ask Idea from March 2020 to June 2024, where he was responsible for managing budgets, controlling expenses, evaluating productivity, and reporting to senior management. Before joining Ask Idea, Mr. Hui worked at Times Publishing Group as Senior Manager (Sales and Marketing) from April 2016 to December 2019, where he led a sales team, developed sales and marketing strategies, and managed budgeting and resource allocation. With over 18 years of experience in the education industry across Mainland China and Hong Kong, Mr. Hui has an extensive network within the sector, particularly in educational publishing, STEM education products, professional competitions, training, and interactive education platforms. He earned a Bachelor's degree in Accountancy from The Hong Kong Polytechnic University in June 2005. We believe Mr. Hui is well-qualified to serve as our Chief Operating Officer due to his 18 years of experience in the education industry, extensive expertise in business operations and strategic development, and proven leadership in managing budgets, marketing, and productivity across multiple organizations.

#### Chung Shun Lee, Independent Director Nominee
**Chung Shun Lee** is an independent director nominee and will be the Chair of Audit Committee and a member of the Nominating and Corporate Governance Committee and Compensation Committee of our Company immediately upon the Company's listing on the Nasdaq Capital Market. Since September 2022, Mr. Lee has served as executive director and chief financial officer of RMH Holdings Ltd (HKEX: 8437) and he had previously been acting chief financial officer from April to August 2022. Before joining RMH Holdings, he was the chief financial officer of K Wealth Hong Kong Limited from January to April 2022. From March 2014 to December 2021, he served as the chief executive officer of 1 Creation Limited. Mr. Lee received a Bachelor of Science with Honours in Accounting from the University of Hull in 2014. We believe Mr. Lee is well-qualified to serve as an independent director due to his extensive experience in financial management, corporate governance, and executive leadership in public companies.

#### Chuanping Pan, Independent Director Nominee
**Chuanping Pan** is an independent director nominee and will be the Chair of the Compensation Committee and a member of the Audit Committee and the Nominating Committee of our Company immediately upon the Company's listing on the Nasdaq Capital Market. From August 2024 to the present, Mr. Pan has served as a legal advisor to the

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Hong Kong Hunan Provincial Committee of the Chinese People's Political Consultative Conference Association and as a distinguished research fellow at the Law School of Xiangtan University. Additionally, he is the legal representative of the International Peace Promotion Association in Beijing and vice president of the Hunan Overseas Friendship Association. Since May 2022, he has been the vice president of the Hong Kong Belt and Road Arbitration Center. From November 2020, he has also been the director of the International Cooperation Division at Malaysia Putra University. Mr. Pan is a licensed and senior attorney with credentials as a National First-Class Lawyer and Hong Kong Registered Lawyer, as well as an arbitrator for the Bali International Arbitration Commission. He has supported enterprises such as China Railway Group, Sany Heavy Industry, and others in overseas investments and risk prevention, providing services for projects like the Hong Kong-Zhuhai-Macao Bridge and the China-Belarus Industrial Park. Mr. Pan earned a Bachelor's degree in Law from Northwest University of Political Science and Law in 1988, a Master's degree in Law from Hunan University in 2007, and a Doctorate in Business Administration from Malaysia Twintech International University of Technology in 2013. We believe Mr. Pan is well-qualified to serve as an independent director due to his extensive legal expertise, arbitration experience, and advisory roles, as well as his leadership in international legal affairs, corporate risk management, and cross-border investments.

#### Yiyun Wang, Independent Director Nominee
**Yiyun Wang** is an independent director nominee and will be the Chair of the Nominating and Corporate Governance Committee and a member of the Audit Committee and Compensation Committee of our Company immediately upon the Company's listing on the Nasdaq Capital Market. Since July 2021, Mr. Wang has served as the legal director at Hunan Shenghong Fund Management Co., where he is responsible for conducting risk assessments of investment targets, reviewing due diligence reports and business models, and providing risk analysis and compliance opinions for the company's projects. From January 2019 to June 2021, he worked as a practicing lawyer at Guangdong Yiyue Law Firm on corporate legal matters. Mr. Wang holds a bachelor's degree in mechanical design and automation in 2004 and a master's degree in law in 2007, both from Northeastern University in China. He is a qualified attorney since 2010, and he also holds a business planner certification from the Ministry of Human Resources and Social Security of China awarded in 2015. We believe Mr. Wang is well-qualified to serve as an independent director due to his legal expertise, experience in investment risk assessment and corporate compliance, and background as a practicing attorney specializing in corporate law.

#### Jinyu Yang, Independent Director Nominee
**Jinyu Yang** is an independent director nominee and will be a member of the Nominating and Corporate Governance Committee, Audit Committee and Compensation Committee of our Company immediately upon the Company's listing on the Nasdaq Capital Market. Since January 2021, Ms. Yang has served as the chairperson and founder of Hello Mom Education Consulting Co., where she oversees company operations, business planning, and market development. From December 2018 to December 2020, she was the principal of Guangzhou Jingtong Education Co., managing daily school operations, teacher training, and parent education guidance. Ms. Yang holds a bachelor's degree in educational psychology from Hunan Normal University in 2011. She is a certified national level-three psychological counselor, a qualified junior high school teacher, and a senior family education instructor. We believe Ms. Yang is well-qualified to serve as an independent director due to her leadership experience in education management, business planning, and operations.

#### Family Relationships
None of the directors or executive officers have a family relationship as defined in Item 401 of Regulation S-K.

#### Involvement in Certain Legal Proceedings
To the best of our knowledge, none of our directors or executive officers has, during the past ten years, been involved in any legal proceedings described in subparagraph (f) of Item 401 of Regulation S-K.

#### Board of Directors
Our board of directors will consist of seven (7) directors upon the closing of this Offering.

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#### Duties of Directors
Under the laws of the Cayman Islands, directors have a fiduciary duty to act honestly in good faith with a view to the company's best interests. Our directors also have a duty to exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. A shareholder has the right to seek damages if a duty owed by the directors is breached.

#### Board Diversity
We seek to achieve board diversity through the consideration of a number of factors when selecting the candidates to our board, including, but not limited to, gender, skills, age, professional experience, knowledge, cultural, education background, ethnicity, and length of service. The ultimate decision of the appointment will be based on merit and the contribution that the selected candidates will bring to our board.

Our directors have a balanced mix of knowledge and skills. We will have four (4) independent directors with different industry backgrounds, representing a majority of the members of our board. Our board is well balanced and diversified in alignment with our business development and strategy.

#### Interested Transactions
A director may vote, attend a board meeting or sign a document on our behalf with respect to any contract or transaction in which he or she is interested. A director must promptly disclose the interest to all other directors after becoming aware of the fact that he or she is interested in a transaction we have entered into or are to enter into. A general notice or disclosure to the board or otherwise contained in the minutes of a meeting or a written resolution of the board or any committee of the board that a director is a shareholder, director, officer or trustee of any specified firm or company and is to be regarded as interested in any transaction with such firm or company will be sufficient disclosure, and, after such general notice, it will not be necessary to give special notice relating to any particular transaction.

#### Qualification
There is currently no shareholding qualification for directors.

#### Committees of the Board of Directors
We will establish three committees under the board of directors immediately upon effectiveness: of an Audit Committee, a Compensation Committee and a Nominating and Corporate Governance Committee. Even though we are exempted from corporate governance standards because we are a foreign private issuer, we have voluntarily adopted a charter for each of the three committees. Each committee's members and functions are described below.

*Audit Committee.* Our audit committee will consist of Mr. Chuanping Pan, Mr. Yiyun Wang, Ms. Jinyu Yang, and Mr. Chung Shun Lee, and Mr. Chung Shun Lee the chairperson of our audit committee. We have determined that Mr. Chuanping Pan, Mr. Yiyun Wang, Ms. Jinyu Yang, and Mr. Chung Shun Lee will satisfy the "independence" requirements of Section 5605(a)(2) of the Nasdaq Listing Rules and Rule 10A-3 under the Securities Exchange Act. Our board also has determined that Mr. Chung Shun Lee qualifies as audit committee financial experts within the meaning of the SEC rules or possesses financial sophistication within the meaning of the Nasdaq Listing Rules. The audit committee will oversee our accounting and financial reporting processes and the audits of the financial statements of our Company. The audit committee will be responsible for, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• appointing the independent auditors and pre-approving all auditing and non-auditing services permitted to be performed by the independent auditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing with the independent auditors any audit problems or difficulties and management's response;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• discussing the annual audited financial statements with management and the independent auditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing the adequacy and effectiveness of our accounting and internal control policies and procedures and any steps taken to monitor and control major financial risk exposures;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and approving all proposed related party transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• meeting separately and periodically with management and the independent auditors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• monitoring compliance with our code of business conduct and ethics, including reviewing the adequacy and effectiveness of our procedures to ensure proper compliance.

*Compensation Committee.* Our compensation committee will consist of Mr. Chung Shun Lee, Mr. Chuanping Pan, Mr. Yiyun Wang, and Ms. Jinyu Yang. Mr. Chuanping Pan will be the chairperson of our compensation committee. We have determined that Mr. Chung Shun Lee, Mr. Chuanping Pan, Mr. Yiyun Wang, Ms. Jinyu Yang will satisfy the "independence" requirements of Section 5605(a)(2) of the Nasdaq Listing Rules and Rule 10A-3 under the Securities Exchange Act. The compensation committee will assist the board in reviewing and approving the compensation structure, including all forms of compensation, relating to our directors and executive officers. Our chief executive officer may not be present at any committee meeting during which his compensation is deliberated. The compensation committee will be responsible for, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and approving to the board with respect to the total compensation package for our most senior executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• approving and overseeing the total compensation package for our executives other than the most senior executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and recommending to the board with respect to the compensation of our directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing periodically and approving any long-term incentive compensation or equity plans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• selecting compensation consultants, legal counsel or other advisors after taking into consideration all factors relevant to that person's independence from management; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• programs or similar arrangements, annual bonuses, employee pension and welfare benefit plans.

*Nominating and Corporate Governance Committee.* Our nominating and corporate governance committee will consist of Mr. Chung Shun Lee, Mr. Chuanping Pan, Mr. Yiyun Wang, and Ms. Jinyu Yang. Mr. Yiyun Wang will be the chairperson of our nominating and corporate governance committee. Mr. Chung Shun Lee, Mr. Chuanping Pan, Mr. Yiyun Wang, Ms. Jinyu Yang satisfy the "independence" requirements of Section 5605(a)(2) of the Nasdaq Listing Rules and Rule 10A-3 under the Securities Exchange Act. The nominating and corporate governance committee will assist the board of directors in selecting individuals qualified to become our directors and in determining the composition of the board and its committees. The nominating and corporate governance committee will be responsible for, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• identifying and recommending nominees for election or re-election to our board of directors or for appointment to fill any vacancy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing annually with our board of directors its current composition in light of the characteristics of independence, age, skills, experience and availability of service to us;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• identifying and recommending to our board the directors to serve as members of committees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• advising the board periodically with respect to significant developments in the law and practice of corporate governance as well as our compliance with applicable laws and regulations, and making recommendations to our board of directors on all matters of corporate governance and on any corrective action to be taken; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• monitoring compliance with our code of business conduct and ethics, including reviewing the adequacy and effectiveness of our procedures to ensure proper compliance.

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#### Corporate Governance
The business and affairs of the Company are managed under the direction of our board of directors. We have conducted board meetings regularly since inception. Each of our directors has attended all meetings either in person, via telephone conference, or the directors have passed resolutions through written consent. In addition to the contact information in this prospectus, the board has adopted procedures for communication with the officers and directors as the date hereof. Each shareholder will be given specific information on how he/she can direct communications to the officers and directors of the Company at our annual shareholders' meetings. All communications from shareholders are relayed to the members of our board of directors.

#### Foreign Private Issuer Exemption
We are a "foreign private issuer," as defined by the SEC. As a result, in accordance with the rules and regulations of Nasdaq, we may choose to comply with home country governance requirements and certain exemptions thereunder rather than complying with Nasdaq corporate governance standards. We may choose to take advantage of the following exemptions afforded to foreign private issuers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exemption from filing quarterly reports on Form 10-Q, from filing proxy solicitation materials on Schedule 14A or 14C in connection with annual or special meetings of shareholders, from providing current reports on Form 8-K disclosing significant events within four days of their occurrence, and from the disclosure requirements of Regulation FD.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exemption from Section 16 rules regarding sales of Ordinary Shares by insiders, which will provide less data in this regard than shareholders of U.S. companies that are subject to the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exemption from the Nasdaq rules applicable to domestic issuers requiring disclosure within four business days of any determination to grant a waiver of the code of business conduct and ethics to directors and officers. Although we will require board approval of any such waiver, we may choose not to disclose the waiver in the manner set forth in the Nasdaq rules, as permitted by the foreign private issuer exemption.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exemption from the requirement that our board of directors have a compensation committee that is composed entirely of independent directors with a written charter addressing the committee's purpose and responsibilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exemption from the requirements that director nominees are selected, or recommended for selection by our board of directors, either by (1) independent directors constituting a majority of our board of directors' independent directors in a vote in which only independent directors participate, or (2) a committee comprised solely of independent directors, and that a formal written charter or board resolution, as applicable, addressing the nominations process is adopted.

Furthermore, Nasdaq Rule 5615(a)(3) provides that a foreign private issuer, such as us, may rely on our home country corporate governance practices in lieu of certain of the rules in the Nasdaq Rule 5600 Series and Rule 5250(d), provided that we nevertheless comply with Nasdaq's Notification of Noncompliance requirement (Rule 5625), the Voting Rights requirement (Rule 5640) and that we have an audit committee that satisfies Rule 5605(c)(3), consisting of committee members that meet the independence requirements of Rule 5605(c)(2)(A)(ii). If we rely on our home country corporate governance practices in lieu of certain of the rules of Nasdaq, our shareholders may not have the same protections afforded to shareholders of companies that are subject to all of the corporate governance requirements of Nasdaq. If we choose to do so, we may utilize these exemptions for as long as we continue to qualify as a foreign private issuer.

Although we are permitted to follow certain corporate governance rules that conform to Cayman Islands requirements in lieu of many of the Nasdaq corporate governance rules, we intend to comply with the Nasdaq corporate governance rules applicable to foreign private issuers before completing this offering.

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#### Other Corporate Governance Matters
The Sarbanes-Oxley Act of 2002, as well as related rules subsequently implemented by the SEC, requires foreign private issuers, including us, to comply with various corporate governance practices. In addition, Nasdaq rules provide that foreign private issuers may follow home country practices in lieu of the Nasdaq corporate governance standards, subject to certain exceptions and except to the extent that such exemptions would be contrary to U.S. federal securities laws.

Because we are a foreign private issuer, our members of our board of directors, executive board members and senior management are not subject to short-swing profit and insider trading reporting obligations under section 16 of the Exchange Act. They will, however, be subject to the obligations to report changes in share ownership under section 13 of the Exchange Act and related SEC rules.

#### Code of Business Conduct and Ethics
We have adopted a code of business conduct and ethics that is applicable to all of our directors, executive officers and employees.

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#### EXECUTIVE COMPENSATION

#### Summary Compensation Table
The following table sets forth certain information with respect to compensation for the fiscal years ended June 30, 2024 earned by or paid to our chief executive officer, chief financial officer, and chief operation officer.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  **Name and Principal <br>Position** | **Year/<br>period** | **Salary <br>(US$)** | **Bonus <br>(US$)** | **Stock <br>Awards <br>(US$)** | **Option <br>Awards <br>(US$)** | **Non-Equity <br>Incentive Plan <br>Compensation <br>(US$)** | **Deferred <br>Compensation <br>Earnings <br>(US$)** | **Pension <br>(US$)** | **Total <br>(US$)** |
|  Chun Ki Wan, <br>CEO | 2024 | $123490 |  |  |  |  |  |  | 123490 |
|  Weiqing He, <br>CFO | 2024 | $— |  |  |  |  |  |  |  |
|  Ho Kit Hui, <br>COO | 2024 | $123490 |  |  |  |  |  |  | 123490 |

---

#### Agreements with Named Executive Officers
We have entered into employment agreements with our executive officers. Each of our executive officers is employed for a specified time period, which will be renewed upon both parties' agreement thirty days before the end of the current employment term. Each employment agreement will provide that we may terminate the employment for cause, at any time, without notice or remuneration, for certain acts of the executive officer, including but not limited to the commitments of any serious or persistent breach or non-observance of the terms and conditions of the employment, conviction of a criminal offense, willful disobedience of a lawful and reasonable order, fraud or dishonesty, receipt of bribery, or severe neglect of his or her duties. An executive officer may terminate his or her employment at any time with a one-month prior written notice. Pursuant to the terms of the employment agreements, each executive officer has agreed to hold, both during and after the date employment agreement expires, in strict confidence and not to use or disclose to any person, corporation or other entity without written consent, any confidential information. In addition, each executive officer will agree to be bound by non-competition and non-solicitation restrictions during the term of his employment and for one year following termination of the employment.

#### Compensation of Directors
For the fiscal year ended June 30, 2024, we have not paid any amount to our directors of the Company.

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#### PRINCIPAL SHAREHOLDERS
The following table sets forth information with respect to beneficial ownership of our Ordinary Shares as of the date of the prospectus by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each person who is known by us to beneficially own more than 5% of our outstanding Ordinary Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each of our director, director nominees and named executive officers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• All directors and named executive officers as a group.

The following table assumes that none of our officers, directors, or 5% or greater beneficial owners of our Ordinary Shares will purchase shares in this offering. In addition, the following table assumes that the over-allotment option has not been exercised. Holders of our Ordinary Shares are entitled to one (1) vote per share and vote on all matters submitted to a vote of our shareholders, except as may otherwise be required by law.

We have determined beneficial ownership in accordance with the rules of the SEC. These rules generally attribute beneficial ownership of securities to persons who possess sole or shared voting power or investment power with respect to those securities. The person is also deemed to be a beneficial owner of any security of which that person has a right to acquire beneficial ownership within 60 days of the date of this prospectus. Unless otherwise indicated, the person identified in this table has sole voting and investment power with respect to all shares shown as beneficially owned by him or her, subject to applicable community property laws.

As of the date of this prospectus, none of our outstanding Ordinary Shares are held by record holders in the United States.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Ordinary Shares <br>Beneficially Owned <br>Prior to this Offering<sup>(1)</sup>** | **Ordinary Shares <br>Beneficially Owned <br>Prior to this Offering<sup>(1)</sup>** | **Ordinary Shares <br>Beneficially Owned <br>After this Offering<sup>(1)(2)</sup>** | **Ordinary Shares <br>Beneficially Owned <br>After this Offering<sup>(1)(2)</sup>** |
|  **Name of Beneficial Owner** | **Number** | **Percentage** | **Number** | **Percentage** |
|  **Directors, Director Nominees and Named Executive Officers:** |  |  |  |  |
|  Xiaoke Luo | 1450000 | 11.60% | 1450000 | 10.00% |
|  Chun Ki Wan | 812500 | 6.50% | 812500 | 5.60% |
|  Weiqing He |  |  |  |  |
|  Ho Kit Hui | 812500 | 6.50% | 812500 | 5.60% |
|  Jinyu Yang |  |  |  |  |
|  Yiyun Wang |  |  |  |  |
|  Chuanping Pan |  |  |  |  |
|  Chung Shun Lee |  |  |  |  |
|  *All executive officers and directors as a group* | 3075000 | 24.60% | 3075000 | 21.20% |
|  **5% or Greater Shareholders:** |  |  |  |  |
|  DS Premium Healthcare Limited<sup>(3)</sup> | 3320500 | 26.56% | 3320500 | 22.90% |
|  Jumbo Will Limited<sup>(4)</sup> | 3250000 | 26.00% | 3250000 | 22.41% |
|  Ultimate Honour Group Limited<sup>(5)</sup> | 1450000 | 11.60% | 1450000 | 10.00% |

---

____________

Notes:

(1) Calculation based on 12,500,000 Ordinary Shares issued and outstanding as of the date of this prospectus. Holders of our Ordinary Shares are entitled to one (1) vote per share.

(2) Based on 14,500,000 Ordinary Shares that will be outstanding after this Offering and that the Representative does not exercise the over-allotment option.

(3) Jie Wu is the sole shareholder of AARUI International Group Holding Company Limited, an intermediate holding company for DS Premium Healthcare Limited, holding 3,320,500 Ordinary Shares of the Company, which represent 26.56% of our Ordinary Shares. Jie Wu is deemed the beneficial owner of the 3,320,500 Ordinary Shares held by DS Premium Healthcare Limited and has the sole voting and dispositive power of the Ordinary Shares held by DS Premium Healthcare Limited.

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(4) Ho Kit Hui, Tin Chun Or, Ming Kit Poon, and Chun Ki Wan are shareholders and directors of Jumbo Will Limited, holding 3,250,000 Ordinary Shares of the Company, which represent 26.00% of our Ordinary Shares as of the date of this prospectus. Each of Ho Kit Hui, Tin Chun Or, Ming Kit Poon, and Chun Ki Wan beneficially owns 25.00% of the shares of Jumbo Will Limited, corresponding to 6.50% of our Ordinary Shares, respectively. As a result, no single shareholder has sole voting or dispositive power over the Ordinary Shares held by Jumbo Will Limited.

(5) Xiaoke Luo, is the sole shareholder and director of Ultimate Honour Group Limited, holding 1,450,000 Ordinary Shares of the Company, which represent 11.60% of our Ordinary Shares as of the date of this prospectus. Xiaoke Luo is deemed the beneficial owner of the 1,450,000 Ordinary Shares held by Ultimate Honour Group Limited and has the sole voting and dispositive power of these shares.

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#### RELATED PARTY TRANSACTIONS
In the ordinary course of business, from time to time, we carry out transactions and enter into arrangements with related parties. Our policy is to enter into transactions with related parties on terms that, on the whole, are no more favorable, or no less favorable, than those available from unaffiliated third parties. Based on our experience in the business sectors in which we operate and the terms of our transactions with unaffiliated third parties, we believe that all of the transactions described below met this policy standard at the time they occurred. The following is a description of material transactions, or series of related material transactions, to which we were or will be a party and in which the other parties included or will include our directors, director nominees, executive officers, holders of more than 5% of our voting securities, or any member of the immediate family of any of the foregoing persons.

#### Employment Agreements
See "Management — Employment Agreements."

#### Material Transactions with Related Parties
The table below sets forth the major related parties and their relationships with the Company:

---

| | |
|:---|:---|
|  **Name of related parties** | **Relationship with the Company** |
|  Jumbo Will Ltd | A shareholder of the Company |
|  Next Education Limited | Jumbo Will Ltd hold 10% shares of Next Education Limited |
|  EDU Blockchain Limited | Under common control company |

---

The following table summarizes goods and services received from related parties for the six months ended December 31, 2024 and 2023, included in cost of revenues — training courses in the consolidated statements of income:

---

| | | | |
|:---|:---|:---|:---|
|  |  | **For the six months ended December 31, <br> (UNAUDITED)** | **For the six months ended December 31, <br> (UNAUDITED)** |
|  **Name of related parties** | **Nature** | **2024** | **2023** |
|  Next Education Limited | Tutor management services | 55,000 | 81,309 |

---

The following table summarizes goods and services provided to related parties for the six months ended December 31, 2024 and 2023, included in the revenues in the consolidated statements of income:

---

| | | | |
|:---|:---|:---|:---|
|  |  | **For the six months ended December 31, <br> (UNAUDITED)** | **For the six months ended December 31, <br> (UNAUDITED)** |
|  **Name of related parties** | **Nature** | **2024** | **2023** |
|  EDU Blockchain Limited | Hosting event services | 63880 |  |
|  Jumbo Will Ltd | Hardware and software products and training services | 852 | 17915 |
|  Next Education Limited | Hardware and software products and training services | 3415 | 6584 |

---

The following table summarizes related party balances:

---

| | | | |
|:---|:---|:---|:---|
|  **Name of related parties** | **Included in consolidated balance <br>sheets** | **December 31, <br> 2024 <br> (unaudited)** | **June 30, <br>2024** |
|  Jumbo Will Ltd<sup>(1)</sup> | Accounts receivable, net | 9699 |  |
|  Next Education Limited<sup>(2)</sup> | Accounts receivable, net | 19427 | 12754 |
|  EDU BlockChain Limited<sup>(3)</sup> | Amounts due to a related party | (660931) |  |
|  Next Education Limited<sup>(4)</sup> | Amounts due to a related party | (251779) | (315676) |

---

____________

Notes:

(1) As of the date of this prospectus, the balance of the accounts receivable, net due from Jumbo Will Ltd is $6,370.

(2) As of the date of this prospectus, the balance of the accounts receivable, net due from Next Education Limited is $12,637.

(3) As of the date of this prospectus, the balance of the amounts due to EDU BlockChain Limited is $660,931.

(4) As of the date of this prospectus, the balance of the amounts due to Next Education Limited is $279,321.

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The following table summarizes goods and services received from related parties:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **For the year ended June 30,** | **For the year ended June 30,** | **For the year ended June 30,** |
|  **Name of related parties** | **Transaction** | **2024** | **2023** | **2022** |
|  Next Education Limited | Tutor management services | $188728 | $510044 | $109009 |

---

The following table summarizes goods and services provided to related parties:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **For the year ended June 30,** | **For the year ended June 30,** | **For the year ended June 30,** |
|  **Name of related parties** | **Transaction** | **2024** | **2023** | **2022** |
|  Next Education Limited | Hardware and software products and training services | $20886 | $15409 | $— |
|  Jumbo Will Ltd | Hardware and software products and training services | $2561 | $18723 | $— |
|  EDU Blockchain Limited | Hosting event services | $63810 | $— | $— |

---

The following table summarizes related party balances:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **As of June 30,** | **As of June 30,** | **As of June 30,** |
|  **Name of related parties** | **Included in consolidated <br>balance sheets** | **2024** | **2023** | **2022** |
|  Jumbo Will Ltd | Accounts Receivable, net | $— | $6776 | $— |
|  Next Education Limited | Accounts Receivable, net | $12754 | $18480 | $— |
|  Next Education Limited | Amounts due to a related party | $(315676) | $(438661) | $(93025) |

---

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#### DESCRIPTION OF SHARE CAPITAL
A copy of our current Memorandum and Articles of Association and a copy of the Amended and Restated Memorandum and Articles of Association are filed as exhibits to the registration statement of which this prospectus is a part.

We are an exempted company incorporated with limited liability in the Cayman Islands and, upon completion of this offering, our affairs will be governed by our Amended and Restated Memorandum and Articles of Association (as amended from time to time), the Companies Act and the common law of the Cayman Islands.

As of the date of this prospectus, our authorized share capital is US$50,000 divided into 500,000,000 Ordinary Shares, par value US$0.0001 each.

Assuming that we obtain the requisite shareholder approval, we will adopt our Amended and Restated Memorandum and Articles of Association which will become effective and replace our current Memorandum and Articles of Association in its entirety immediately prior to the completion of this offering. As of the date immediately prior to this offering, 12,500,000 Ordinary Shares of par value US$0.0001 per Ordinary Share were issued, fully paid and outstanding. Upon completion of this offering, we will have 14,500,000 Ordinary Shares issued and outstanding, assuming the Representative does not elect to exercise its over-allotment option to purchase additional Ordinary Shares from us. The following are summaries of certain material provisions of our Amended and Restated Memorandum and Articles of Association and the Companies Act insofar as they relate to the material terms of our Ordinary Shares.

#### Ordinary Shares

#### General
All of our outstanding Ordinary Shares are fully paid and non-assessable. Certificates representing the Ordinary Shares are issued in registered form. Our shareholders who are non-residents of the Cayman Islands may freely hold and vote their Ordinary Shares. We may not issue shares to bearer.

#### Dividends
Subject to the Companies Act and our Amended Articles, the holders of our Ordinary Shares are entitled to such dividends out of our funds which are legally available for the purpose as may be declared by our board of directors. In addition, our Shareholders may declare dividends by ordinary resolution, but not dividend shall exceed the amount recommended by our directors. Under the laws of the Cayman Islands, our Company may pay a dividend out of either profit or the credit standing in our Company's share premium account and with the sanction of an ordinary resolution, provided that in no circumstances may a dividend be paid if this would result in our Company being unable to pay its debts as they fall due in the ordinary course of business immediately following the date on which the distribution or dividend is paid.

No dividend or other monies payable by our Company on or in respect of any share shall bear interest against our Company.

#### Voting Rights
Subject to any special rights, restrictions or privileges as to voting for the time being attached to any class or classes of shares at any general meeting on a poll every member present in person or by proxy or, in the case of a member being a corporation, by our duly authorized representative shall have one vote for every share which is fully paid or credited as fully paid registered in his name in the register of members of our Company. A poll shall be taken in such manner as the chairman of the general meeting directs. The chairman may appoint scrutineers (who need not be shareholders) and fix a place and time for declaring the result of the poll.

Any ordinary resolution is a resolution of a general meeting passed by a simple majority of the votes by shareholders who (being entitled to do so) vote in person or by proxy or, in the case of corporations, by their duly authorised representatives, at that meeting. The expression of an ordinary resolution includes a written resolution signed by the requisite majority in accordance with the articles.

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Any special resolution is a resolution of a general meeting or a resolution of a meeting of the holders of any class of shares in a class meeting duly constituted in accordance with the Amended Articles in each case passed by a majority of not less than two-thirds of the votes by shareholders who (being entitled to do so) vote in person or by proxy at that meeting. The expression includes a unanimous written resolution signed by all of the shareholders entitled to vote at such meeting. A special resolution will be required for important matters such as amending our memorandum and articles of association or changing the name of the Company.

#### Transfer of Ordinary Shares
Subject to the Companies Act and our Amended Articles, and provided that a transfer of ordinary shares complies with the Nasdaq Listing Rules, a shareholder may transfer ordinary shares to another person by completing an instrument of transfer in a common form or in a form prescribed by the Nasdaq Capital Market or in any other form approved by the directors, executed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• where the ordinary shares are fully paid, by or on behalf of that shareholder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• where the ordinary shares are partly paid, by or on behalf of that shareholder and the transferee.

The transferor shall be deemed to remain the holder of a share until the name of the transferee is entered in the register of members of our Company in respect of that share.

Where the ordinary shares in question are not listed on or subject to the rules of the Nasdaq, our board of directors may, in our absolute discretion, decline to register a transfer of any share (not being a fully paid up share) to a person of whom it does not approve or on which our Company has a lien. It may also decline to register a transfer of any share issued under any share option scheme upon which a restriction on transfer subsists or a transfer of any share to more than four joint holders.

Our board of directors may decline to recognize any instrument of transfer unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the instrument of transfer is lodged with us, accompanied by the certificate for the ordinary shares to which it relates and such other evidence as our board of directors may reasonably require to show the right of the transferor to make the transfer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the instrument of transfer is in respect of only one class of ordinary shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the instrument of transfer is properly stamped, if required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the case of a transfer to joint holders, the number of joint holders to whom the share is to be transferred does not exceed four;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the shares transferred are free of any lien in favor of us; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a fee of such maximum sum as the Nasdaq Global Select Market may determine to be payable, or such lesser sum as the board of directors may from time to time require, is paid to our company in respect thereof.

If our directors refuse to register a transfer of any shares, they shall, within one month after the date on which the instrument of transfer was lodged, send to the transferee notice of such refusal.

The registration of transfers of shares or of any class of shares may, on 14 clear days' notice being given by advertisement in such one or more newspaper or by electronic means, after compliance with any notice requirement of Nasdaq, be suspended at such times and for such periods (not exceeding in the whole thirty days in any year) as our board of directors may determine.

Fully paid shares shall be free from any restriction on transfer (except when permitted by Nasdaq) and shall also be free from all liens.

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#### Procedures on liquidation
If we are wound up, the shareholders may, subject to the Amended Articles and any other sanction required by the Companies Act, pass a special resolution allowing the liquidator to do either or both of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to divide in specie among the shareholders the whole or any part of our assets and, for that purpose, to value any assets and to determine how the division shall be carried out as between the shareholders or different classes of shareholders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to vest the whole or any part of the assets in trustees for the benefit of shareholders and those liable to contribute to the winding up.

The directors have the authority to present a petition for our winding up to the Grand Court of the Cayman Islands on our behalf without the sanction of a resolution passed at a general meeting.

#### Calls on Ordinary Shares and Forfeiture of Ordinary Shares
Subject to the Amended Articles and to the terms of allotment, our board of directors may, from time to time, make such calls as it thinks fit upon the members in respect of any monies unpaid on the shares held by them respectively (whether on account of the nominal value of the shares or by way of premium) in a notice served to such shareholders at least 14 clear days prior to the specified time and place for payment. Shareholders registered as the joint holders of a share shall be jointly and severally liable to pay all calls in respect of the share. If a call remains unpaid after it has become due and payable the person from whom it is due and payable shall pay interest on the amount unpaid from the day it became due and payable until it is paid at the rate fixed by the terms of allotment of the share or in the notice of the call or if no rate is fixed, at the rate of ten percent per annum. The directors may waive payment of the interest wholly or in part. Any Ordinary Shares that have been called upon and remain unpaid are subject to forfeiture.

#### Redemption of Ordinary Shares
Subject to the Companies Act and any rights for the time being conferred on the shareholders holding a particular class of shares, we may by action of our directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• issue shares that are to be redeemed or liable to be redeemed, at our option or at the option of the shareholders holding those redeemable shares, on the terms and in the manner our directors determine before the issue of those shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• with the consent by special resolution of the shareholders holding shares of a particular class, vary the rights attaching to that class of shares so as to provide that those shares are to be redeemed or are liable to be redeemed at our option on the terms and in the manner which the directors determine at the time of such variation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• purchase all or any of our own shares of any class including any redeemable shares on the terms and in the manner which the directors determine at the time of such purchase.

We may make a payment in respect of the redemption or purchase of our own shares in any manner authorized by the Companies Act, including out of any combination of capital, our profits and the proceeds of a fresh issue of shares.

#### Variations of Rights of Shares
If at any time our share capital is divided into different classes of shares, unless the terms on which a class of shares was issued state otherwise, the rights attached to any such class may only be varied with the consent in writing of the holders of 50% of the issued shares of that class or with the sanction of a resolution passed at a separate meeting by a majority of not less than two-thirds of the votes by the holders of the shares of that class.

Any special rights conferred upon the holders of any shares or class of shares shall not, unless otherwise expressly provided by the terms of issue of the shares of that class, be deemed to be varied by the creation, allotment or issue of further shares ranking *pari passu* with the existing shares of that class.

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#### General Meetings of Shareholders
As a Cayman Islands exempted company, we are not obliged by the Companies Act to call shareholders' annual general meetings. Our Amended and Restated Memorandum and Articles of Association provide that we may, but shall not (unless required by the Nasdaq Listing Rules) be obligated to, in each year hold a general meeting as an annual general meeting, which, if held, shall be convened by the board of directors, in accordance with the articles, and the annual general meeting shall be held at such time and place as may be determined by our directors. Each general meeting, other than an annual general meeting, shall be an extraordinary general meeting.

Advance notice of at least seven clear days is required for the convening of our annual general shareholders' meeting (if any) and any other general meeting of our shareholders. A quorum required for a general meeting of shareholders consists of at least one holder of Ordinary Shares representing not less than an aggregate of one-third of all votes attaching to all Ordinary Shares in issue and entitled to vote in person or by proxy or, if a corporation or other non-natural person, by its duly authorized representative at such general meeting.

A majority of our directors may call general meetings and they shall on a shareholders' requisition forthwith proceed to convene an extraordinary general meeting of our Company. A shareholders' requisition is a request of one or more shareholders holding as at the date of deposit of the request in aggregate not less than one-third of the voting rights in the share capital of the Company. The requisition must state the objects of the meeting and must be signed by or on behalf of each requisitioner (and for this purpose each joint holder shall be obliged to sign) and delivered in accordance with the notice provisions of our Amended Articles, and such meeting shall be held within 2 months after the deposit of such requisition. If our directors do not within 21 clear days from the receipt of the requisition duly proceed to convene a general meeting, the requisitioners, or any of them may themselves convene a general meeting.

#### Inspection of Books and Records
Holders of our ordinary shares have no general right under Cayman Islands law to inspect or obtain copies of our list of shareholders or our corporate records (other than copies of our memorandum and articles of association, our register of mortgage and charges and any special resolutions passed by our shareholders). Under Cayman Islands law, the names of our current directors can be obtained from a search conducted at the Registrar of Companies.

#### Changes in Capital
Subject to the Companies Act, our shareholders may, by ordinary resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) increase our share capital by new shares of the amount fixed by that ordinary resolution and with the attached rights, priorities and privileges set out in that ordinary resolution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) consolidate and divide all or any of our share capital into shares of larger amount than our existing shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) sub-divide our Shares or any of them into our Shares of smaller amount than is fixed by our Company's memorandum of association, so, however, that in the subdivision the proportion between the amount paid and the amount, if any, unpaid on each reduced our shares shall be the same as it was in case of the share from which the reduced our Shares is derived;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) cancel any shares which, at the date of the passing of that ordinary resolution, have not been taken or agreed to be taken by any person and diminish the amount of our share capital by the amount of the shares so cancelled; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) convert all or any of our paid up shares into stock, and reconvert that stock into paid up shares of any denomination.

Subject to the Companies Act and to any rights for the time being conferred on the shareholders holding a particular class of shares, our shareholders may, by special resolution, reduce our share capital or any capital redemption reserve in any way.

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#### Certain Cayman Islands Company Considerations

#### Exempted Company
We are an exempted company with limited liability under the Companies Act. The Companies Act distinguishes between ordinary resident companies and exempted companies. Any company that is incorporated in the Cayman Islands but conducts business mainly outside of the Cayman Islands may apply to be registered as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except for the exemptions and privileges listed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an exempted company does not have to file an annual return of its shareholders with the Registrar of Companies in the Cayman Islands;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an exempted company's register of members is not open to inspection;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an exempted company does not have to hold an annual general meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an exempted company may issue no par value, negotiable or bearer shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an exempted company may obtain an undertaking against the imposition of any future taxation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an exempted company may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an exempted company may register as a limited duration company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an exempted company may register as a segregated portfolio company.

"Limited liability" means that the liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company. (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil).

#### Differences in Corporate Law
The Companies Act is modeled after that of England and Wales but does not follow recent statutory enactments in England. In addition, the Companies Act differs from laws applicable to United States corporations and their shareholders. Set forth below is a summary of the significant differences between the provisions of the Companies Act applicable to us and the laws applicable to companies incorporated in the State of Delaware.

This discussion does not purport to be a complete statement of the rights of holders of our Ordinary Shares under applicable law in the Cayman Islands or the rights of holders of the common stock of a typical corporation under applicable Delaware law.

#### Mergers and Similar Arrangements
The Companies Act permits mergers and consolidations between Cayman Islands companies and between Cayman Islands companies and non-Cayman Islands companies provided that the laws of the foreign jurisdiction permit such merger or consolidation. For these purposes, (a) "merger" means the merging of two or more constituent companies and the vesting of their undertaking, property and liabilities in one of such companies as the surviving company, and (b) a "consolidation" means the combination of two or more constituent companies into a consolidated company and the vesting of the undertaking, property and liabilities of such companies to the consolidated company. In order to effect such a merger or consolidation, the directors of each constituent company must approve a written plan of merger or consolidation, which must then be authorized by (a) a special resolution of the shareholders of each constituent company, and (b) such other authorization, if any, as may be specified in such constituent company's articles of association. The plan must be filed with the Registrar of Companies of the Cayman Islands together with a declaration as to the solvency of the consolidated or surviving company, a statement setting out the assets and liabilities of each constituent company and an undertaking that a copy of the certificate of merger or consolidation will be given to

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the members and creditors of each constituent company and that notification of the merger or consolidation will be published in the Cayman Islands Gazette. Court approval is not required for a merger or consolidation which is effected in compliance with these statutory procedures.

A merger between a Cayman Islands parent company and its Cayman Islands subsidiary or subsidiaries does not require authorization by a resolution of shareholders. For this purpose a subsidiary is a company of which at least ninety percent (90%) votes at a general meeting of the subsidiary.

The consent of each holder of a fixed or floating security interest over a constituent company is required unless this requirement is waived by a court in the Cayman Islands.

Save in certain circumstances, a dissenting shareholder of a Cayman Islands constituent company is entitled to payment of the fair value of his shares upon dissenting to a merger or consolidation. The exercise of appraisal rights will preclude the exercise of any other rights save for the right to seek relief on the grounds that the merger or consolidation is void or unlawful.

Separate from the statutory provisions relating to mergers and consolidations, the Companies Act also contains statutory provisions that facilitate the reconstruction and amalgamation of companies by way of schemes of arrangement, provided that the arrangement is approved by a majority in number of each class of shareholders with whom the arrangement is to be made, and who must in addition represent three-fourths in value of shareholders or each such class of shareholders, as the case may be, that are present and voting either in person or by proxy at a meeting, or meetings, convened for that purpose. The convening of the meetings and subsequently the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder has the right to express to the court the view that the transaction ought not to be approved, the court can be expected to approve the arrangement if it determines that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the statutory provisions as to the required majority vote have been met;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the shareholders have been fairly represented at the meeting in question and the statutory majority are acting bona fide without coercion of the minority to promote interests adverse to those of the class;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the arrangement is such that may be reasonably approved by an intelligent and honest man of that class acting in respect of his interest; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the arrangement is not one that would more properly be sanctioned under some other provision of the Companies Act.

The Companies Act also contains a statutory power of compulsory acquisition which may facilitate the "squeeze out" of dissenting minority shareholder upon a tender offer. When a tender offer is made and accepted by holders of ninety percent (90%) of the shares affected within four months, the offeror may, within a two-month period commencing on the expiration of such four-month period, require the holders of the remaining shares to transfer such shares to the offeror on the terms of the offer. An objection can be made to the Grand Court of the Cayman Islands.

If an arrangement and reconstruction is thus approved, or if a takeover offer is made and accepted, the dissenting shareholder would have no rights comparable to appraisal rights, which would otherwise ordinarily be available to dissenting shareholders of Delaware corporations, providing rights to receive payment in cash for the judicially determined value of the shares.

#### Shareholders' Suits
In principle, we will normally be the proper plaintiff and as a general rule a derivative action may not be brought by a minority shareholder. However, based on English authorities, which would in all likelihood be of persuasive authority in the Cayman Islands, the Cayman Islands court can be expected to follow and apply the common law principles (namely the rule in Foss v. Harbottle and the exceptions thereto) so that a non-controlling shareholder may be permitted to commence a class action against or derivative actions in the name of the company to challenge actions where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a company acts or proposes to act illegally or ultra vires;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the act complained of, although not ultra vires, could only be effected duly if authorized by more than a simple majority vote that has not been obtained; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• those who control the company are perpetrating a "fraud on the minority."

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#### Indemnification of Directors and Executive Officers and Limitation of Liability
Cayman Islands law does not limit the extent to which a company's memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. Our Amended and Restated Memorandum and Articles of Association provide that that we shall indemnify each existing or former secretary, director (including alternate director), and any of our other officers (including an investment adviser or an administrator or liquidator) and their personal representatives against (a) against all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or sustained by the existing or former directors (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 (including alternate director), secretary's or officer's duties, powers, authorities or discretions; and (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 Cayman Islands law, 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 any of our officers 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), the secretary or that officer for those legal costs.

This standard of conduct is generally the same as permitted under the Delaware General Corporation Act for a Delaware corporation. In addition, we intend to enter into indemnification agreements with our directors and senior executive officers that will provide such persons with additional indemnification beyond that provided in our Amended and Restated Memorandum and Articles of Association. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to our 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.

#### Directors' Fiduciary Duties
Under Delaware corporate law, a director of a Delaware corporation has a fiduciary duty to the corporation and its shareholders. This duty has two components: the duty of care and the duty of loyalty. The duty of care requires that a director act in good faith, with the care that an ordinarily prudent person would exercise under similar circumstances. Under this duty, a director must inform himself of, and disclose to shareholders, all material information reasonably available regarding a significant transaction. The duty of loyalty requires that a director act in a manner he or she reasonably believes to be in the best interests of the corporation. He or she must not use his or her corporate position for personal gain or advantage. This duty prohibits self-dealing by a director and mandates that the best interest of the corporation and its shareholders take precedence over any interest possessed by a director, officer or controlling shareholder and not shared by the shareholders generally. In general, actions of a director are presumed to have been made on an informed basis, in good faith and in the honest belief that the action taken was in the best interests of the corporation. However, this presumption may be rebutted by evidence of a breach of one of the fiduciary duties. Should such evidence be presented concerning a transaction by a director, a director must prove the procedural fairness of the transaction, and that the transaction was of fair value to the corporation.

As a matter of Cayman Islands law, a director of a Cayman Islands company is in the position of a fiduciary with respect to the company and therefore it is considered that he owes the following duties to the company — a duty to act bona fide in the best interests of the company, a duty not to make a profit based on his or her position as director (unless the company permits him to do so) and a duty not to put himself in a position where the interests of the company conflict with his or her personal interest or his or her duty to a third party. A director of a Cayman Islands company owes to the company a duty to act with skill and care. It was previously considered that a director need not exhibit in the performance of his or her duties a greater degree of skill than may reasonably be expected from a person of his or her knowledge and experience. However, English and Commonwealth courts have moved towards an objective standard with regard to the required skill and care and these authorities are likely to be followed in the Cayman Islands.

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#### Shareholder Action by Written Consent
Under the Delaware General Corporation Act, a corporation may eliminate the right of shareholders to act by written consent by amendment to its certificate of incorporation. Our Amended Articles provide that any action required or permitted to be taken at general meetings of our Company may be taken upon the vote of shareholders at general meeting and shareholders may approve corporate matters by way of a unanimous written resolution without a meeting being held.

#### Shareholder Proposals
Under the Delaware General Corporation Act, a shareholder has the right to put any proposal before the annual meeting of shareholders, provided it complies with the notice provisions in the governing documents. A special meeting may be called by the board of directors or any other person authorized to do so in the governing documents, but shareholders may be precluded from calling special meetings.

The Companies Act does not provide shareholders with rights to requisition a general meeting nor any right to put any proposal before a general meeting. However, these rights may be provided in a company's articles of association. Our Amended Articles allow any one or more of our shareholders who together hold shares which carry in aggregate not less than one-third of the paid up capital of our company having the right of voting at general meetings to requisition an extraordinary general meeting of our shareholders, in which case our board is obliged to convene an extraordinary general meeting and to put the resolutions so requisitioned to a vote at such meeting. Other than this right to requisition a shareholders' meeting, our Amended Articles do not provide our shareholders with any other right to put proposals before annual general meetings or extraordinary general meetings. As an exempted Cayman Islands company, we are not obliged by law to call shareholders' annual general meetings.

#### Cumulative Voting
Under the Delaware General Corporation Act, cumulative voting for elections of directors is not permitted unless the corporation's certificate of incorporation specifically provides for it. Cumulative voting potentially facilitates the representation of minority shareholders on a board of directors since it permits the minority shareholder to cast all the votes to which the shareholder is entitled on a single director, which increases the shareholder's voting power with respect to electing such director. As permitted under Cayman Islands law, our Amended Articles do not provide for cumulative voting. As a result, our shareholders are not afforded any less protections or rights on this issue than shareholders of a Delaware corporation.

#### Removal of Directors
Under the Delaware General Corporation Law, a director of a corporation with a classified board may be removed only for cause with the approval of a majority of the issued and outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. Under our Amended Articles, directors may be removed by a resolution of the board of directors. In addition, a director's office shall be vacated if the director (i) becomes bankrupt or makes any arrangement or composition with his creditors; (ii) is found to be or becomes of unsound mind or dies; (iii) resigns his office by notice in writing to the company; (iv) is given notice by the majority of other directors (not being less than two in number) to vacate office; (v) is found by a court or competent institution to be of unsound mind; or (vi) is removed from office pursuant to any other provisions of our Amended and Restated Memorandum and Articles of Association.

#### Transactions with Interested Shareholders
The Delaware General Corporation Act contains a business combination statute applicable to Delaware corporations whereby, unless the corporation has specifically elected not to be governed by such statute by amendment to its certificate of incorporation, it is prohibited from engaging in certain business combinations with an "interested shareholder" for three years following the date that such person becomes an interested shareholder. An interested shareholder generally is a person or a group who or which owns or owned 15% or more of the target's outstanding voting stock within the past three years. This has the effect of limiting the ability of a potential acquirer to make a two-tiered bid for the target in which all shareholders would not be treated equally. The statute does not apply if, among other things, prior to the date on which such shareholder becomes an interested shareholder, the board of directors

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approves either the business combination or the transaction which resulted in the person becoming an interested shareholder. This encourages any potential acquirer of a Delaware corporation to negotiate the terms of any acquisition transaction with the target's board of directors.

Cayman Islands law has no comparable statute. As a result, we cannot avail ourselves of the types of protections afforded by the Delaware business combination statute. However, although Cayman Islands law does not regulate transactions between a company and its significant shareholders, it does provide that such transactions must be entered into bona fide in the best interests of the company and for a proper corporate purpose and not with the effect of constituting a fraud on the minority shareholders.

#### Dissolution; Winding Up
Under the Delaware General Corporation Act, unless the board of directors approves the proposal to dissolve, dissolution must be approved by shareholders holding 100% of the total voting power of the corporation. Only if the dissolution is initiated by the board of directors may it be approved by a simple majority of the corporation's outstanding shares. Delaware law allows a Delaware corporation to include in its certificate of incorporation a supermajority voting requirement in connection with dissolutions initiated by the board.

Under Cayman Islands laws, a company may be wound up by either an order of the courts of the Cayman Islands or by a special resolution of its members or, if the company is unable to pay its debts as they fall due, by an ordinary resolution of its members. The court has authority to order winding up in a number of specified circumstances including where it is, in the opinion of the court, just and equitable to do so. Under the Companies Act and our Amended Articles, our company may be dissolved, liquidated or wound up by a special resolution of our shareholders.

#### Variation of Rights of Shares
Under the Delaware General Corporation Act, a corporation may vary the rights of a class of shares with the approval of a majority of the outstanding shares of such class, unless the certificate of incorporation provides otherwise. Under our Amended Articles, if our share capital is divided into more than one class of shares, we may vary the rights attached to any class with the sanction of a special resolution passed at a separate meeting of the holders of the shares of that class or with consent in writing by shareholders holding 50% of the issued shares of that class.

#### Amendment of Governing Documents
Under the Delaware General Corporation Act, a corporation's governing documents may be amended with the approval of a majority of the outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. As permitted by Cayman Islands laws, our Amended and Restated Memorandum and Articles of Association may only be amended by a special resolution of our shareholders.

#### Rights of Non-Resident or Foreign Shareholders
There are no limitations imposed by our Amended and Restated Memorandum and Articles of Association on the rights of non-resident or foreign shareholders to hold or exercise voting rights on our shares. In addition, there are no provisions in our Amended and Restated Memorandum and Articles of Association governing the ownership threshold above which shareholder ownership must be disclosed.

#### Listing
We have applied to list our Ordinary Shares on the Nasdaq Capital Market under the symbol "IDTL." We cannot guarantee that we will be successful in listing our Ordinary Shares on the Nasdaq Capital Market; however, we will not complete this offering unless we are listed on the Nasdaq Stock Market.

#### Transfer Agent
The transfer agent of our Ordinary Shares is VStock Transfer, LLC, located at 18 Lafayette Place, Woodmere, New York 11598.

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#### SHARES ELIGIBLE FOR FUTURE SALE
Before our initial public offering, there had not been a public market for our Ordinary Shares, and though we have applied to list on the Nasdaq Capital Market, a regular trading market for our Ordinary Shares may not develop. Future sales of substantial amounts of shares of our Ordinary Shares in the public market after our initial public offering, or the possibility of these sales occurring, could cause the prevailing market price for our Ordinary Shares to fall or impair our ability to raise equity capital in the future. Upon completion of this Offering, we will have 14,500,000 Ordinary Shares issued and outstanding (assuming the underwriters do not exercise their over-allotment option). All of the Ordinary Shares sold in this Offering by us will be freely transferable by persons other than our "affiliates" without restriction or further registration under the Securities Act.

#### Lock-Up Agreements
Our directors, executive officers and certain shareholders have agreed, subject to limited exceptions, not to offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase or otherwise dispose of, directly or indirectly, or enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of our Ordinary Shares or such other securities for a period of starting on the date of the completion of this offering and for twelve (12) months thereafter, without the prior written consent of the Underwriter. See "*Underwriting*" beginning on page 132.

#### Rule 144
All of our Ordinary Shares outstanding prior to this Offering are "restricted securities," as that term is defined in Rule 144 under the Securities Act, and may be sold publicly in the United States only if they are subject to an effective registration statement under the Securities Act or pursuant to an exemption from the registration requirement such as those provided by Rule 144 and Rule 701 promulgated under the Securities Act.

In general, under Rule 144, as currently in effect, beginning 90 days after the date of this prospectus, a person who is not deemed to have been our affiliate at any time during the three months preceding a sale and who has beneficially owned restricted securities within the meaning of Rule 144 for more than six months, would be entitled to sell an unlimited number of those shares, subject only to the availability of current public information about us. A non-affiliate who has beneficially owned restricted securities for at least one year from the later of the date such securities were acquired from us or from our affiliate would be entitled to freely sell those shares.

A person who is deemed to be an affiliate of ours and who has beneficially owned "restricted securities" for at least six months would be entitled to sell, within any three-month period, a number of shares that is not more than the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1% of the number of Ordinary Shares then outstanding, in the form of Ordinary Shares or otherwise, which will equal approximately shares immediately after this Offering; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the average weekly trading volume of the Ordinary Shares on the Nasdaq Capital Market during the four calendar weeks preceding the filing of a notice on Form 144 with respect to such sale.

Sales under Rule 144 by our affiliates or persons selling shares on behalf of our affiliates are also subject to certain manner of sale provisions and notice requirements and to the availability of current public information about us.

#### Rule 701
In general, under Rule 701 of the Securities Act as currently in effect, each of our employees, consultants or advisors who purchases our Ordinary Shares from us in connection with a compensatory stock or option plan or other written agreement relating to compensation is eligible to resell such Ordinary Shares 90 days after we became a reporting company under the Exchange Act in reliance on Rule 144, but without compliance with some of the restrictions, including the holding period, contained in Rule 144. Securities issued under Rule 701 will be deemed "restricted securities" within the meaning of Rule 144 under the Securities Act, and may not be freely traded without registration or exemption thereunder.

#### Regulation S
Regulation S provides generally that sales made in offshore transactions are not subject to the registration or prospectus-delivery requirements of the Securities Act.

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#### TAXATION
*The following summary of material Cayman Islands, Hong Kong, and United States federal income tax consequences of an investment in our Ordinary Shares is based upon laws and relevant interpretations thereof in effect as of the date of this prospectus, all of which are subject to change. This summary does not deal with all possible tax consequences relating to an investment in our Ordinary Shares, such as the tax consequences under state, local and other tax laws.*

#### Material U.S. Federal Income Tax Consequences Applicable to U.S. Holders of Our Ordinary Shares
The following sets forth the material U.S. federal income tax consequences related to an investment in our Ordinary Shares. It is directed to U.S. Holders (as defined below) of our Ordinary Shares and is based upon laws and relevant interpretations thereof in effect as of the date of this prospectus, all of which are subject to change. This description does not deal with all possible tax consequences relating to an investment in our Ordinary Shares or U.S. tax laws, other than the U.S. federal income tax laws, such as the tax consequences under non-U.S. tax laws, state, local and other tax laws.

The following brief description applies only to U.S. Holders (defined below) that hold Ordinary Shares as capital assets and that have the U.S. dollar as their functional currency. This brief description is based on the federal income tax laws of the United States in effect as of the date of this prospectus and on U.S. Treasury regulations in effect or, in some cases, proposed, as of the date of this prospectus, as well as judicial and administrative interpretations thereof available on or before such date. All of the foregoing authorities are subject to change, which change could apply retroactively and could affect the tax consequences described below.

The brief description below of the U.S. federal income tax consequences to "U.S. Holders" will apply to you if you are a beneficial owner of Ordinary Shares and you are, for U.S. federal income tax purposes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an individual who is a citizen or resident of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a corporation (or other entity taxable as a corporation for U.S. federal income tax purposes) organized under the laws of the United States, any state thereof or the District of Columbia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an estate whose income is subject to U.S. federal income taxation regardless of its source; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a trust that (1) is subject to the primary supervision of a court within the United States and the control of one or more U.S. persons for all substantial decisions or (2) has a valid election in effect under applicable U.S. Treasury regulations to be treated as a U.S. person.

If a partnership (or other entity treated as a partnership for United States federal income tax purposes) is a beneficial owner of our Ordinary Shares, the tax treatment of a partner in the partnership will depend upon the status of the partner and the activities of the partnership. Partnerships and partners of a partnership holding our ordinary shares are urged to consult their tax advisors regarding an investment in our Ordinary Shares.

WE URGE POTENTIAL PURCHASERS OF OUR ORDINARY SHARES TO CONSULT THEIR OWN TAX ADVISORS CONCERNING THE U.S. FEDERAL, STATE, LOCAL AND NON-U.S. TAX CONSEQUENCES OF PURCHASING, OWNING AND DISPOSING OF OUR ORDINARY SHARES.

The following does not address the tax consequences to any particular investor or to persons in special tax situations such as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• banks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• financial institutions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• insurance companies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Pension plans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cooperatives;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• regulated investment companies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• real estate investment trusts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• broker-dealers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• traders that elect to use a mark-to-market method of accounting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• U.S. expatriates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Certain former U.S. citizens or long-term residents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• tax-exempt entities (including private foundations);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons liable for alternative minimum tax;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons holding our Ordinary Shares as part of a straddle, hedging, conversion or integrated transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons that actually or constructively own 10% (by vote or value) or more of our voting shares (including by reason of owning our Ordinary Shares);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons who acquired our Ordinary Shares pursuant to the exercise of any employee share option or otherwise as compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons holding our Ordinary Shares through partnerships or other pass-through entities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• events, hip-hop, and marketing industries investment trusts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• governments or agencies or instrumentalities thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• beneficiaries of a Trust holding our Ordinary Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons holding our Ordinary Shares through a trust.

All of whom may be subject to tax rules that differ significantly from those discussed below.

The discussion set forth below is addressed only to U.S. Holders that purchase Ordinary Shares in this Offering. Prospective purchasers are urged to consult their own tax advisors about the application of the U.S. federal income tax rules to their particular circumstances as well as the state, local, foreign and other tax consequences to them of the purchase, ownership and disposition of our Ordinary Shares.

#### Taxation of Dividends and Other Distributions on Our Ordinary Shares
Subject to the passive foreign investment company ("PFIC") rules discussed below, the gross amount of distributions made by us to you with respect to the Ordinary Shares (including the amount of any taxes withheld therefrom) will generally be includable in your gross income as dividend income on the date of receipt by you, but only to the extent that the distribution is paid out of our current or accumulated earnings and profits (as determined under U.S. federal income tax principles). With respect to corporate U.S. Holders, the dividends will not be eligible for the dividends-received deduction allowed to corporations in respect of dividends received from other U.S. corporations.

With respect to non-corporate U.S. Holders, including individual U.S. Holders, dividends will be taxed at the lower capital gains rate applicable to qualified dividend income, provided that (1) the Ordinary Shares are readily tradable on an established securities market in the United States, or we are eligible for the benefits of an approved qualifying income tax treaty with the United States that includes an exchange of information program, (2) we are not a PFIC for either our taxable year in which the dividend is paid or the preceding taxable year, and (3) certain holding period requirements are met. Because there is no income tax treaty between the United States and the BVI, clause (1) above can be satisfied only if the Ordinary Shares are readily tradable on an established securities market in the United States. Under U.S. Internal Revenue Service authority, Ordinary Shares are considered for purpose of clause (1) above to be readily tradable on an established securities market in the United States if they are listed on the Nasdaq Capital Market. You are urged to consult your tax advisors regarding the availability of the lower rate for dividends paid with respect to our Ordinary Shares, including the effects of any change in law after the date of this prospectus.

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Dividends will constitute foreign source income for foreign tax credit limitation purposes. If the dividends are taxed as qualified dividend income (as discussed above), the amount of the dividend taken into account for purposes of calculating the foreign tax credit limitation will be limited to the gross amount of the dividend, multiplied by the reduced rate divided by the highest rate of tax normally applicable to dividends. The limitation on foreign taxes eligible for credit is calculated separately with respect to specific classes of income. For this purpose, dividends distributed by us with respect to our Ordinary Shares will constitute "passive category income" but could, in the case of certain U.S. Holders, constitute "general category income."

To the extent that the amount of the distribution exceeds our current and accumulated earnings and profits (as determined under U.S. federal income tax principles), it will be treated first as a tax-free return of your tax basis in your Ordinary Shares, and to the extent the amount of the distribution exceeds your tax basis, the excess will be taxed as capital gain. We do not intend to calculate our earnings and profits under U.S. federal income tax principles. Therefore, a U.S. Holder should expect that a distribution will be treated as a dividend even if that distribution would otherwise be treated as a non-taxable return of capital or as a capital gain under the rules described above.

#### Taxation of Dispositions of Ordinary Shares
Subject to the passive foreign investment company rules discussed below, you will recognize taxable gain or loss on any sale, exchange or other taxable disposition of a share equal to the difference between the amount realized (in U.S. dollars) for the share and your tax basis (in U.S. dollars) in the Ordinary Shares. The gain or loss will be treated as a capital gain or loss. If you are a non-corporate U.S. Holder, including an individual U.S. Holder, who has held the Ordinary Shares for more than one year, you will be eligible for reduced tax rates. The deductibility of capital losses is subject to limitations. Any such gain or loss that you recognize will generally be treated as United States source income or loss for foreign tax credit limitation purposes.

#### Information Reporting and Backup Withholding
Dividend payments with respect to our Ordinary Shares and proceeds from the sale, exchange or redemption of our Ordinary Shares may be subject to information reporting to the U.S. Internal Revenue Service and possible U.S. backup withholding at a current rate of 24%. Backup withholding will not apply, however, to a U.S. Holder who furnishes a correct taxpayer identification number and makes any other required certification on U.S. Internal Revenue Service Form W-9 or who is otherwise exempt from backup withholding. U.S. Holders who are required to establish their exempt status generally must provide such certification on U.S. Internal Revenue Service Form W-9. U.S. Holders are urged to consult their tax advisors regarding the application of the U.S. information reporting and backup withholding rules.

Backup withholding is not an additional tax. Amounts withheld as backup withholding may be credited against your U.S. federal income tax liability, and you may obtain a refund of any excess amounts withheld under the backup withholding rules by filing the appropriate claim for refund with the U.S. Internal Revenue Service and furnishing any required information. We do not intend to withhold taxes for individual shareholders. However, transactions effected through certain brokers or other intermediaries may be subject to withholding taxes (including backup withholding), and such brokers or intermediaries may be required by law to withhold such taxes.

Under the Hiring Incentives to Restore Employment Act of 2010, certain U.S. Holders are required to report information relating to our Ordinary Shares, subject to certain exceptions (including an exception for Ordinary Shares held in accounts maintained by certain financial institutions), by attaching a complete Internal Revenue Service Form 8938, Statement of Specified Foreign Financial Assets, with their tax return for each year in which they hold Ordinary Shares. Failure to report the information could result in substantial penalties. You should consult your own tax advisor regarding your obligation to file Form 8938.

#### Passive Foreign Investment Company
Based on our current and anticipated operations and the composition of our assets, we were not a PFIC for U.S. federal income tax purposes for the taxable year ended June 30, 2024 and 2023. Depending on the amount of cash we raise in this Offering, together with any other assets held for the production of passive income, it is possible that, for our taxable year ending June 30, 2025 or for any subsequent year, more than 50% of our assets may be assets which

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produce passive income, in which case we would be deemed a PFIC, which could have adverse US federal income tax consequences for US taxpayers who are shareholders. We will make this determination following the end of any particular tax year. PFIC status is a factual determination for each taxable year which cannot be made until the close of the taxable year. A non-U.S. corporation is considered a PFIC, as defined in Section 1297(a) of the US Internal Revenue Code ("IRC"), for any taxable year if either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• at least 75% of its gross income is passive income; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• at least 50% of the value of its assets (based on an average of the quarterly values of the assets during a taxable year) is attributable to assets that produce or are held for the production of passive income (the "asset test").

We will be treated as owning our proportionate share of the assets and earning our proportionate share of income of any other corporation in which we own, directly or indirectly, at least 25% (by value) of the stock.

We must make a separate determination each year as to whether we are a PFIC, however, and there can be no assurance with respect to our status as a PFIC for our current taxable year or any future taxable year. Depending on the amount of cash we raise in this Offering, together with any other assets held for the production of passive income, it is possible that, for our current taxable year or for any subsequent taxable year, more than 50% of our assets may be assets held for the production of passive income. We will make this determination following the end of any particular tax year. In addition, because the value of our assets for purposes of the asset test will generally be determined based on the market price of our Ordinary Shares and because cash is generally considered to be an asset held for the production of passive income, our PFIC status will depend in large part on the market price of our Ordinary Shares and the amount of cash we raise in this Offering. Accordingly, fluctuations in the market price of the Ordinary Shares may cause us to become a PFIC. In addition, the application of the PFIC rules is subject to uncertainty in several respects and the composition of our income and assets will be affected by how, and how quickly, we spend the cash we raise in this Offering. We are under no obligation to take steps to reduce the risk of our being classified as a PFIC, and as stated above, the determination of the value of our assets will depend upon material facts (including the market price of our Ordinary Shares from time to time and the amount of cash we raise in this Offering) that may not be within our control. If we are a PFIC for any year during which you hold Ordinary Shares, we will continue to be treated as a PFIC for all succeeding years during which you hold Ordinary Shares. If we cease to be a PFIC and you did not previously make a timely "mark-to-market" election as described below, you will continue to be treated as a PFIC, however, you may avoid some of the adverse effects of the PFIC regime by making a "purging election" (as described below) with respect to the Ordinary Shares.

If we are a PFIC for any taxable year during which you hold Ordinary Shares, you will be subject to special tax rules with respect to any "excess distribution" that you receive and any gain you realize from a sale or other disposition (including a pledge) of the Ordinary Shares, unless you make a "mark-to-market" election as discussed below. Distributions you receive in a taxable year that are greater than 125% of the average annual distributions you received during the shorter of the three preceding taxable years or your holding period for the Ordinary Shares will be treated as an excess distribution. Under these special tax rules:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the excess distribution or gain will be allocated ratably over your holding period for the Ordinary Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the amount allocated to the current taxable year, and any taxable year prior to the first taxable year in which we were a PFIC, will be treated as ordinary income,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the amount allocated to each other year will be subject to the highest tax rate in effect for that year and the interest charge generally applicable to underpayments of tax will be imposed on the resulting tax attributable to each such year, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An additional tax equal to the interest charge generally applicable to underpayments of tax will be imposed on the tax attributable to each prior taxable year, other than a pre-PFIC year.

The tax liability for amounts allocated to years prior to the year of disposition or "excess distribution" cannot be offset by any net operating losses for such years, and gains (but not losses) realized on the sale of the Ordinary Shares cannot be treated as capital, even if you hold the Ordinary Shares as capital assets.

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A U.S. Holder of "marketable stock" (as defined below) in a PFIC may make a mark-to-market election for such stock to elect out of the tax treatment discussed above. If you make a mark-to-market election for the Ordinary Shares, you will include in income each year an amount equal to the excess, if any, of the fair market value of the Ordinary Shares as of the close of your taxable year over your adjusted basis in such Ordinary Shares. You are allowed a deduction for the excess, if any, of the adjusted basis of the Ordinary Shares over their fair market value as of the close of the taxable year. However, deductions are allowable only to the extent of any net mark-to-market gains on the Ordinary Shares included in your income for prior taxable years. Amounts included in your income under a mark-to-market election, as well as gain on the actual sale or other disposition of the Ordinary Shares, are treated as ordinary income. Ordinary loss treatment also applies to the deductible portion of any mark-to-market loss on the Ordinary Shares, as well as to any loss realized on the actual sale or disposition of the Ordinary Shares, to the extent that the amount of such loss does not exceed the net mark-to-market gains previously included for such Ordinary Shares. Your basis in the Ordinary Shares will be adjusted to reflect any such income or loss amounts. If you make a valid mark-to-market election, the tax rules that apply to distributions by corporations which are not PFICs would apply to distributions by us, except that the lower applicable capital gains rate for qualified dividend income discussed above under "— Taxation of Dividends and Other Distributions on our Ordinary Shares" generally would not apply.

The mark-to-market election is available only for "marketable stock," which is stock that is traded in other than de minimis quantities on at least 15 days during each calendar quarter ("regularly traded") on a qualified exchange or other market (as defined in applicable U.S. Treasury regulations), including the Nasdaq Capital Market. If the Ordinary Shares are regularly traded on the Nasdaq Capital Market and if you are a holder of Ordinary Shares, the mark-to-market election would be available to you were we to be or become a PFIC.

Alternatively, a U.S. Holder of stock in a PFIC may make a "qualified electing fund" election with respect to such PFIC to elect out of the tax treatment discussed above. A U.S. Holder who makes a valid qualified electing fund election with respect to a PFIC will generally include in gross income for a taxable year such holder's pro rata share of the corporation's earnings and profits for the taxable year. However, the qualified electing fund election is available only if such PFIC provides such U.S. Holder with certain information regarding its earnings and profits as required under applicable U.S. Treasury regulations. We do not currently intend to prepare or provide the information that would enable you to make a qualified electing fund election. If you hold Ordinary Shares in any year in which we are a PFIC, you will be required to file U.S. Internal Revenue Service Form 8621 regarding distributions received on the Ordinary Shares and any gain realized on the disposition of the Ordinary Shares.

If you do not make a timely "mark-to-market" election (as described above), and if we were a PFIC at any time during the period you hold our Ordinary Shares, then such Ordinary Shares will continue to be treated as stock of a PFIC with respect to you even if we cease to be a PFIC in a future year, unless you make a "purging election" for the year we cease to be a PFIC. A "purging election" creates a deemed sale of such Ordinary Shares at their fair market value on the last day of the last year in which we are treated as a PFIC. The gain recognized by the purging election will be subject to the special tax and interest charge rules treating the gain as an excess distribution, as described above. As a result of the purging election, you will have a new basis (equal to the fair market value of the Ordinary Shares on the last day of the last year in which we are treated as a PFIC) and holding period (which new holding period will begin the day after such last day) in your Ordinary Shares for tax purposes.

IRC Section 1014(a) provides for a step-up in basis to the fair market value for our Ordinary Shares when inherited from a decedent that was previously a holder of our Ordinary Shares. However, if we are determined to be a PFIC and a decedent that was a U.S. Holder did not make either a timely qualified electing fund election for our first taxable year as a PFIC in which the U.S. Holder held (or was deemed to hold) our Ordinary Shares, or a mark-to-market election and ownership of those Ordinary Shares are inherited, a special provision in IRC Section 1291(e) provides that the new U.S. Holder's basis should be reduced by an amount equal to the IRC Section 1014 basis minus the decedent's adjusted basis just before death. As such if we are determined to be a PFIC at any time prior to a decedent's passing, the PFIC rules will cause any new U.S. Holder that inherits our Ordinary Shares from a U.S. Holder to not get a step-up in basis under IRC Section 1014 and instead will receive a carryover basis in those Ordinary Shares.

You are urged to consult your tax advisors regarding the application of the PFIC rules to your investment in our Ordinary Shares and the elections discussed above.

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#### Cayman Islands Taxation
The Cayman Islands currently levies no taxes on individuals or corporations based upon profits, income, gains or appreciation and there is no taxation in the nature of inheritance tax or estate duty. There are no other taxes likely to be material to us levied by the government of the Cayman Islands except for stamp duties which may be applicable on instruments executed in, or after execution brought within the jurisdiction of the Cayman Islands. The Cayman Islands is a party to a double tax treaty entered with the United Kingdom in 2010 but is otherwise not party to any double tax treaties that are applicable to any payments made to or by our company. There are no exchange control regulations or currency restrictions in the Cayman Islands.

Payments of dividends and capital in respect of the shares will not be subject to taxation in the Cayman Islands and no withholding will be required on the payment of a dividend or capital to any holder of our Ordinary Shares, nor will gains derived from the disposal of our Ordinary Shares be subject to Cayman Islands income or corporation tax.

#### Hong Kong Taxation
The following summary of certain relevant taxation provisions under the laws of Hong Kong is based on current law and practice and is subject to changes therein. This summary does not purport to address all possible tax consequences relating to purchasing, holding or selling our Ordinary Shares, and does not take into account the specific circumstances of any particular investors, some of whom may be subject to special rules. Accordingly, holders or prospective purchasers (particularly those subject to special tax rules, such as banks, dealers, insurance companies and tax-exempt entities) should consult their own tax advisers regarding the tax consequences of purchasing, holding or selling our Ordinary Shares. Under the current laws of Hong Kong:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• No profit tax is imposed in Hong Kong in respect of capital gains from the sale of the Ordinary Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Revenues gains from the sale of our Ordinary Shares by persons carrying on a trade, profession or business in Hong Kong where the gains are derived from or arise in Hong Kong from the trade, profession or business will be chargeable to Hong Kong profits tax, which is currently imposed at the rate of 16.5% on corporations and at a maximum rate of 15% on individuals and unincorporated businesses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gains arising from the sale of Ordinary Shares, where the purchases and sales of the Ordinary Shares are effected outside of Hong Kong such as, for example, on Cayman Islands, should not be subject to Hong Kong profits tax.

According to the current tax practice of the Hong Kong Inland Revenue Department, dividends paid on the Ordinary Shares would not be subject to any Hong Kong tax.

No Hong Kong stamp duty is payable on the purchase and sale of the Ordinary Shares.

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#### ENFORCEABILITY OF CIVIL LIABILITIES
We are an exempted company with limited liability incorporated under the laws of the Cayman Islands. We are incorporated in the Cayman Islands because of certain benefits associated with being a Cayman Islands corporation, such as political and economic stability, an effective judicial system, a favorable tax system, the absence of exchange control or currency restrictions and the availability of professional and support services. However, the Cayman Islands may have a less developed body of securities laws as compared to the United States and provides protections for investors to a lesser extent. In addition, Cayman Islands companies may not have standing to sue before the federal courts of the United States.

All of our assets are located in Hong Kong. In addition, all our directors and officers are nationals or residents of Hong Kong and all or a substantial portion of their assets are located outside the United States. As a result, it may be difficult for investors to effect service of process within the United States upon us or these persons, or to enforce against us or them judgments obtained in United States courts, including judgments predicated upon the civil liability provisions of the securities laws of the United States or any state in the United States.

We have appointed Cogency Global Inc., located at 122 East 42<sup>nd</sup> Street, 18<sup>th</sup> Floor, New York, NY 10168, as our agent to receive service of process with respect to any action brought against us in the United States under the federal securities laws of the United States or of any State of the United States.

#### Hong Kong
Bird & Bird, our counsel with respect to Hong Kong law, has advised us that judgment of United States courts cannot be directly enforced in Hong Kong in accordance with the Foreign Judgments (Reciprocal Enforcement) Ordinance (Cap. 319) (the "Ordinance"), as the application of the Ordinance is limited to judgments entered in designated jurisdictions, which currently include: Australia, Austria, Belgium, Bermuda, Brunei, France, Germany, India, Israel, Italy, Malaysia, The Netherlands, New Zealand, Singapore and Sri Lanka. The common law permits an action to be brought upon a foreign judgment, but it is subject to various conditions including, but not limited to, that the foreign judgement must (1) be for a definite sum of money; (2) be final and conclusive; and (3) have been entered by a court with competent jurisdiction over the defendant. The defenses that are available to a defendant in a common law action brought on the basis of a foreign judgment include lack of jurisdiction, breach of natural justice, fraud, and contrary to public policy. However, a separate legal action for debt must be commenced in Hong Kong in order to recover such debt from the judgment debtor.

#### Cayman Islands
Ogier, our counsel as to the laws of the Cayman Islands, has advised us that there is uncertainty as to whether the courts of the Cayman Islands would (i) recognize or enforce judgments of U.S. courts obtained against us or our directors or officers predicated upon the civil liability provisions of the securities laws of the United States or any state in the United States, or (ii) entertain original actions brought in the Cayman Islands against us or our directors or officers predicated upon the securities laws of the United States or any state in the United States.

Ogier has informed us that there is uncertainty with regard to Cayman Islands law related to whether a judgment obtained from the U.S. courts under civil liability provisions of U.S. securities laws will be determined by the courts of the Cayman Islands as penal or punitive in nature. If such a determination is made, the courts of the Cayman Islands will not recognize or enforce the judgment against a Cayman Islands company, such as our company. As the courts of the Cayman Islands have yet to rule on making such a determination in relation to judgments obtained from U.S. courts under civil liability provisions of U.S. securities laws, it is uncertain whether such judgments would be enforceable in the Cayman Islands. Ogier has informed us that although there is no statutory enforcement in the Cayman Islands of judgments obtained in the federal or state courts of the United States (and the Cayman Islands is not a party to any treaties for the reciprocal enforcement or recognition of such judgments), the courts of the Cayman Islands will, at

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common law, recognize and enforce a foreign monetary judgment of a foreign court of competent jurisdiction without any re-examination of the merits of the underlying dispute based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the liquidated sum for which such judgment has been given, provided such judgment (a) is given by a foreign court of competent jurisdiction, (b) imposes on the judgment debtor a liability to pay a liquidated sum for which the judgment has been given, (c) is final and conclusive, (d) is not in respect of taxes, a fine or a penalty, and (e) was not obtained in a manner and is not of a kind the enforcement of which is contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). However, the Cayman Islands courts are unlikely to enforce a judgment obtained from the U.S. courts under civil liability provisions of the U.S. federal securities law if such judgment is determined by the courts of the Cayman Islands to give rise to obligations to make payments that are penal or punitive in nature. A Cayman Islands court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

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#### UNDERWRITING
We will enter into an underwriting agreement (the "Underwriting Agreement") with R. F. Lafferty & Co., Inc., acting as the representative of the underwriters (the "Representative"). Under the terms and subject to the conditions of the Underwriting Agreement, the underwriter named below has agreed to purchase, and we have agreed to sell to them, the number of our Ordinary Shares at the initial public offering price, less the underwriting discounts, as set forth on the cover page of this prospectus and as indicated below:

---

| | |
|:---|:---|
|  **Underwriters** | **Number of <br>Shares** |
|  R. F. Lafferty & Co., Inc. |  |
|  **Total** | 2000000  |

---

The underwriters are offering the shares subject to their acceptance of the shares from us and subject to prior sale. The Underwriting Agreement provides that the obligations of the underwriters to pay for and accept delivery of the Ordinary Shares offered by this prospectus are subject to the approval of certain legal matters by their counsel and to other conditions. The underwriters are obligated to pay for all of the Ordinary Shares offered by this prospectus if any such shares are taken.

The underwriters have advised us that they propose to offer the shares to the public at the initial public offering price set forth on the cover of this prospectus and to selected dealers at the initial public offering price less a selling concession not in excess of $[\*] per share. After this Offering, the initial public offering price, concession and reallowance to dealers may be reduced by the representative. No change in those terms will change the amount of proceeds to be received by us as set forth on the cover of this prospectus. The securities are offered by the underwriters as stated herein, subject to receipt and acceptance by it and subject to its right to reject any order in whole or in part.

#### Over-Allotment Option
We have granted to the Representative an option, exercisable within 45 days from the closing of this Offering, to purchase up to 15.0% additional Ordinary Shares sold in this offering, excluding Ordinary Shares subject to this option, at the initial public offering price listed on the cover page of this prospectus, less underwriting discounts. The Representative may exercise this option solely for the purpose of cover over-allotments, if any, made in connection with the offering contemplated by this prospectus.

#### Underwriting Discounts and Expenses
Shares sold by the underwriters to the public will initially be offered at the initial offering price set forth on the cover of this prospectus. Any shares sold by the underwriters to securities dealers may be sold at a discount equal to seven percent (7.0%) per share from the initial public offering price. The underwriters may offer the shares through one or more of their affiliates or selling agents. Upon execution of the Underwriting Agreement, the underwriters will be obligated to purchase the shares at the price and upon the terms stated therein.

The following table shows the per share and total underwriting discounts we will pay to the underwriters.

---

| | | | |
|:---|:---|:---|:---|
|  | **Per Share** | **Total without <br>Full Exercise of <br>Over-allotment <br>Option** | **Total with Full <br>Exercise of <br>Over-allotment <br>Option** |
|  Initial public offering price<sup>(1)</sup> | $4.50 | $9000000 | $10350000 |
|  Underwriting discounts (7.0%) | $0.315 | $630000 | $724500 |
|  Proceeds to us, before expenses<sup>(2)</sup> | $4.185 | $8370000 | $9625500 |

---

____________

(1) Initial public offering price per share is assumed as US$4.50 per share.

(2) The total estimated expenses related to this offering are set forth in the section entitled "*Expenses Relating to This Offering.*"

We have agreed to pay the Representative a non-accountable expense allowance equal to one percent (1.0%) of the actual amount of gross proceeds raised by us in this Offering (including as result of the sale of any Ordinary Shares as result of the exercise of the over-allotment option).

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We have also agreed to reimburse the Representative up to a maximum of $200,000 for out-of-pocket accountable expenses, including: (i) all reasonable travel and lodging expenses incurred by the Representative and its counsel in connection with visits to, and examinations of, our Company; (ii) background check on the Company's directors and officers; (iii) the reasonable cost for roadshow meetings; (iv) all due diligence expenses; and (v) legal counsel fees. We have paid to the Representative $25,000 as an advance to be applied towards reasonable out-of-pocket expenses, or the Advance. Any portion of the Advance shall be returned back to us to the extent not actually incurred in accordance with FINRA Rule 5110(g)(4)(A).

#### Right of First Refusal
We have agreed to grant the Representative for a six (6) -months period from the closing of this Offering, a right of first refusal to provide investment banking services (which shall include, without limitation, (a) acting as sole manager for any underwritten public offering and (b) acting as exclusive placement agent or initial purchaser in connection with any private offering of securities of the Company) to the Company on terms that are the same or more favorable to the Company comparing to terms offered to the Company by other underwriters/placement agents, which right is exercisable in the Representative's sole discretion.

#### Lock-Up Agreements
The Company, for a period of twelve (12) months from the commencement this Offering, will not (a) offer, sell, or otherwise transfer or dispose of, directly or indirectly, any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company; or (b) file or caused to be filed any registration statement with the SEC relating to the offering of any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company, provided, however, that the foregoing shall not apply to (x) the securities to be sold in this Offering, (y) issuances under the Company's existing equity incentive or employee share plans, if applicable, or (z) any future equity incentive plans, equity grants, or issuances made in the ordinary course of business for compensatory purposes of the Company.

All officers, directors, and principal shareholders (defined as owners of five percent (5.0%) or more) of the Company's Ordinary Shares as of the effectiveness of our registration statement on Form F-1, of which this prospectus forms a part, shall agree in writing, in a form satisfactory to the Representative, not to sell, transfer or otherwise dispose of any of such securities (or underlying securities) of the Company for a period of commencing the sale of this Offering and for twelve (12) months thereafter, or any longer period required by FINRA, the U.S. exchanges or any State, without the express written consent of the Representative which consent may be given or withheld in the Representative's sole discretion.

#### Tail Financing
We have also agreed to pay the Representative, subject to certain exceptions, a cash fee equal to seven percent (7.0%) of the gross proceeds received by the Company from the sale of any equity, debt and/or equity derivative instruments to any investor actually introduced by the Representative to the Company during the period from the date the Representative was engaged until the final closing of this offering, in connection with any public or private financing or capital raise (each a "Tail Financing"), and such Tail Financing is consummated within nine (9) months following the closing of this Offering (the "Tail Period"), provided that such Tail Financing is by a party actually introduced to the Company in an offering in which the Company has direct knowledge of such party's participation. The right to receive a fee in connection with the Tail Financing shall be subject to FINRA Rule 5110(g), and the Company shall have a right of termination for cause, which includes that the Company may terminate the engagement of the Representative upon the Representative's material failure to provide the underwriting services required by the underwriting agreement. The Company's exercise of the right of termination for cause will eliminate any obligations with respect to the payment of any termination fee or provision of any tail financing fee, including the tail financing set forth above.

#### Indemnification
We have agreed to indemnify the Underwriter against certain liabilities, including certain liabilities under the Securities Act. If we are unable to provide this indemnification, we have agreed to contribute to payments the Underwriter may be required to make in respect of those liabilities.

#### Other Relationships
The Underwriter and its affiliates have engaged in, and may in the future engage in, investment banking and other commercial dealings in the ordinary course of business with us or our affiliates. They have received, or may in the future receive, customary fees and commissions for these transactions.

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#### No Public Market
Prior to this Offering, there has not been a public market for our securities in the U.S. and the public offering price for our Ordinary Shares will be determined through negotiations between us and the Underwriter. Among the factors to be considered in these negotiations will be prevailing market conditions, our financial information, market valuations of other companies that we and the Underwriter believe to be comparable to us, estimates of our business potential, the present state of our development and other factors deemed relevant.

We offer no assurances that the initial public offering price will correspond to the price at which our Ordinary Shares will trade in the public market subsequent to this Offering or that an active trading market for our Ordinary Shares will develop and continue after this Offering.

#### Stock Exchange
We have applied to list our Ordinary Shares on the Nasdaq Capital Market under the symbol "IDTL." There can be no assurance that we will be successful in listing our Ordinary Shares on the Nasdaq Capital Market.

#### Electronic Distribution
A prospectus in electronic format may be made available on websites or through other online services maintained by the Underwriter of this Offering, or by its affiliates. Other than the prospectus in electronic format, the information on the Underwriter's website and any information contained in any other website maintained by the Underwriter is not part of this prospectus or the registration statement of which this prospectus forms a part, has not been approved and/or endorsed by us or the Underwriter in its capacity as underwriter, and should not be relied upon by investors.

#### Price Stabilization, Short Positions
Until the distribution of the Ordinary Shares offered by this prospectus is completed, rules of the SEC may limit the ability of the Underwriter to bid for and to purchase our Ordinary Shares. As an exception to these rules, the Underwriter may engage in transactions effected in accordance with Regulation M under the Exchange Act that are intended to stabilize, maintain or otherwise affect the price of our Ordinary Shares, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• stabilizing transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• short sales;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• imposition of penalty bids; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• syndicate covering transactions.

The Underwriter must close out any naked short position by purchasing shares in the open market. A naked short position is more likely to be created if the Underwriter is concerned that there may be downward pressure on the price of the Ordinary Shares in the open market that could adversely affect investors who purchased in this Offering. A penalty bid is an arrangement permitting the managing underwriter to reclaim the selling concession that would otherwise accrue to an underwriter if the Ordinary Shares originally sold by such underwriter were later repurchased by the managing underwriter and therefore was not effectively sold to the public by such underwriter.

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#### Passive Market Making
Any underwriter who is a qualified market maker on Nasdaq may engage in passive market making transactions on Nasdaq, in accordance with Rule 103 of Regulation M under the Exchange Act, during a period before the commencement of offers or sales of the shares and extending through the completion of the distribution. Passive market makers must comply with applicable volume and price limitations and must be identified as a passive market maker. In general, a passive market maker must display its bid at a price not in excess of the highest independent bid for such security. If all independent bids are lowered below the passive market maker's bid, however, the passive market maker's bid must then be lowered when certain purchase limits are exceeded.

#### Determination of Offering Price
Prior to this Offering, there was no public market for our Ordinary Shares. The initial public offering price will be determined by negotiation between us and the Underwriter. The principal factors to be considered in determining the initial public offering price include, but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the information set forth in this prospectus and otherwise available to the Underwriter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our history and prospects and the history and prospects for the industry in which we compete;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our past and present financial performance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our prospects for future earnings and the present state of our development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the general condition of the securities market at the time of this Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the recent market prices of, and demand for, publicly traded shares of generally comparable companies; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other factors deemed relevant by the Underwriter and us.

The estimated public offering price range set forth on the cover page of this preliminary prospectus is subject to change as a result of market conditions and other factors. Neither we nor the Underwriter can assure investors that an active trading market will develop for our Ordinary Shares or that the Ordinary Shares will trade in the public market at or above the initial public offering price.

#### Affiliations
The Underwriter and its respective affiliates are full service financial institutions engaged in various activities, which may include securities trading, commercial and investment banking, financial advisory, investment management, investment research, principal investment, hedging, financing and brokerage activities. The Underwriter and its affiliates may from time to time in the future engage with us and perform services for us or in the ordinary course of their respective businesses for which they will receive customary fees and expenses. In the ordinary course of their various business activities, the Underwriter and its affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their customers, and such investment and securities activities may involve securities and/or instruments of us. The Underwriter and its affiliates may also make investment recommendations and/or publish or express independent research views in respect of these securities or instruments and may at any time hold, or recommend to customers that they acquire, long and/or short positions in these securities and instruments.

#### Offer Restrictions outside the United States
No action has been taken in any jurisdiction (except in the United States) that would permit a public offering of the Ordinary Shares the possession, circulation or distribution of this prospectus or any other material relating to us or the Ordinary Shares in any jurisdiction where action for that purpose is required. Accordingly, the Ordinary Shares may not be offered or sold, directly or indirectly, and neither this prospectus nor any other material or advertisements in connection with the Ordinary Shares may be distributed or published, in or from any country or jurisdiction except in compliance with any applicable laws, rules and regulations of any such country or jurisdiction.

***British Virgin Islands.*** This prospectus does not constitute a public offer of the Ordinary Shares, whether by way of sale or subscription, in the British Virgin Islands. Ordinary Shares have not been offered or sold, and will not be offered or sold, directly or indirectly, in the British Virgin Islands.

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***European Economic Area.*** In relation to each Member State of the European Economic Area (each a "Member State"), no Ordinary Shares have been offered or will be offered pursuant to the offering to the public in that Member State prior to the publication of a prospectus in relation to the Ordinary Shares which has been approved by the competent authority in that Member State or, where appropriate, approved in another Member State and notified to the competent authority in that Member State, all in accordance with the Prospectus Regulation, except that offers of Ordinary Shares may be made to the public in that Member State at any time under the following exemptions under the Prospectus Regulation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to any legal entity which is a qualified investor as defined under the Prospectus Regulation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to fewer than 150 natural or legal persons (other than qualified investors as defined under the Prospectus Regulation), subject to obtaining the prior consent of the underwriters for any such offer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in any other circumstances falling within Article 1(4) of the Prospectus Regulation.

provided that no such offer of shares shall require us or any of our representatives to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus Regulation and each person who initially acquires any shares or to whom any offer is made will be deemed to have represented, acknowledged and agreed to and with each of the representatives and us that it is a "qualified investor" as defined in the Prospectus Regulation.

In the case of any shares being offered to a financial intermediary as that term is used in Article 5 of the Prospectus Regulation, each such financial intermediary will be deemed to have represented, acknowledged and agreed that the shares acquired by it in the offer have not been acquired on a nondiscretionary basis on behalf of, nor have they been acquired with a view to their offer or resale to, persons in circumstances which may give rise to an offer of any shares to the public other than their offer or resale in a Member State to qualified investors as so defined or in circumstances in which the prior consent of the representatives has been obtained to each such proposed offer or resale.

For the purposes of this provision, the expression an "offer to the public" in relation to any Ordinary Shares in any Member State means the communication in any form and by any means of sufficient information on the terms of the offer and any Ordinary Shares to be offered so as to enable an investor to decide to purchase or subscribe for any Ordinary Shares, and the expression "Prospectus Regulation" means Regulation (EU) 2017/1129 (as amended).

***Hong Kong.*** The Ordinary Shares have not been offered or sold and will not be offered or sold in Hong Kong by means of any document other than (i) in circumstances which do not constitute an offer to the public within the meaning of the Companies Ordinance (Cap.32, Laws of Hong Kong), or (ii) to "professional investors" within the meaning of the Securities and Futures Ordinance (Cap.571, Laws of Hong Kong) and any rules promulgated thereunder, or (iii) in other circumstances which do not result in the document being a "prospectus" within the meaning of the Companies Ordinance (Cap.32, Laws of Hong Kong), and no advertisement, invitation or document relating to the Ordinary Shares has been or may be issued or has been or may be in the possession of any person for the purpose of issue (in each case whether in Hong Kong or elsewhere), which is directed at, or the contents of which are likely to be accessed or read by, the public in Hong Kong (except if permitted to do so under the laws of Hong Kong) other than with respect to Ordinary Shares which are or are intended to be disposed of only to persons outside Hong Kong or only to "professional investors" within the meaning of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and any rules promulgated thereunder.

***People's Republic of China.*** This prospectus may not be circulated or distributed in the PRC and the Ordinary Shares may not be offered or sold and will not offer or sell to any person for re-offering or resale directly or indirectly to any resident of the PRC except pursuant to applicable laws, rules and regulations of the PRC. For the purpose of this paragraph only, the PRC does not include Taiwan and the special administrative regions of Hong Kong and Macau.

***Taiwan.*** The Ordinary Shares have not been and will not be registered or filed with, or approved by the Financial Supervisory Commission of Taiwan pursuant to relevant securities laws and regulations and may not be offered or sold within Taiwan through a public offering or in circumstances which constitute an offer within the meaning of the Securities and Exchange Act of Taiwan or relevant laws and regulations that requires a registration, filing or approval of the Financial Supervisory Commission of Taiwan. No person or entity in Taiwan has been authorized to offer, sell, give advice regarding or otherwise intermediate the offering and sale of the Ordinary Shares in Taiwan.

[**Table of Contents**](#TOC001)

#### EXPENSES RELATED TO THIS OFFERING
Set forth below is an itemization of the total expenses, excluding underwriting discounts and the non-accountable expense allowance, that we expect to incur in connection with this Offering. With the exception of the SEC registration fee and the Nasdaq Capital Market listing fee, all amounts are estimates.

---

| | |
|:---|:---|
|  | **US$** |
|  U.S. Securities and Exchange Commission Registration Fee | $1761 |
|  FINRA Filing Fee | $650 |
|  Nasdaq Capital Market Listing Fee | $80000 |
|  Legal Fees and Expenses | $415000 |
|  Printing Expenses | $34300 |
|  Accounting Fees and Expenses | $125000 |
|  Miscellaneous Expenses | $63289 |
|  **Total Expenses** | $**720000** |

---

[**Table of Contents**](#TOC001)

#### LEGAL MATTERS
The validity of the Ordinary Shares offered hereby and certain legal matters as to Cayman Islands law will be passed upon for us by Ogier. Ortoli Rosenstadt LLP is acting as counsel to our company regarding U.S. securities law matters. Certain legal matters regarding Hong Kong law will be passed upon for us by Bird & Bird. Ortoli Rosenstadt LLP may rely upon Bird & Bird concerning matters governed by Hong Kong law. VCL Law LLP is acting as U.S. securities counsel for the underwriter in connection with this offering.

#### EXPERTS
The consolidated financial statements as of and for the fiscal years ended June 30, 2024 and 2023 as set forth in this prospectus and elsewhere in the registration statement have been so included in reliance on the report of TAAD LLP, an independent registered public accounting firm, given on their authority as experts in accounting and auditing. The current address of 20955 Pathfinder Rd, Suite 370, Diamond Bar, CA 91765.

#### WHERE YOU CAN FIND ADDITIONAL INFORMATION
We have filed with the SEC a registration statement on Form F-1 (including amendments and exhibits to the registration statement) under the Securities Act with respect to the Ordinary Shares offered hereby. This prospectus, which constitutes a part of the registration statement, does not contain all of the information set forth in the registration statement or the exhibits filed therewith. For further information about us and the Ordinary Shares offered hereby, reference is made to the registration statement and the exhibits filed therewith. Statements contained in this prospectus regarding the contents of any contract or any other document that is filed as an exhibit to the registration statement are not necessarily complete, and in each instance we refer you to the copy of such contract or other document filed as an exhibit to the registration statement. However, statements in the prospectus contain the material provisions of such contracts, agreements and other documents. We currently do not file periodic reports with the SEC. Upon the closing of our initial public offering, we will be required to file periodic reports and other information with the SEC pursuant to the Exchange Act, as applicable to foreign private issuers. As we are a foreign private issuer, we are exempt from some of the Exchange Act reporting requirements, the rules prescribing the furnishing and content of proxy statements to shareholders, and Section 16 short swing profit reporting for our officers and directors and for holders of more than 10% of our shares. In addition, we will not be required under the Exchange Act to file periodic reports and financial statements with the SEC as frequently or as promptly as U.S. companies whose securities are registered under the Exchange Act.

The SEC maintains a website that contains reports, information statements and other information regarding registrants that file electronically with the SEC. The address of the website is *www.sec.gov*.

We maintain a website at *[\*]*. 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 prospectus.

[**Table of Contents**](#TOC001)

#### IDEA TECH HOLDING LIMITED.<br>INDEX TO UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

---

| | |
|:---|:---|
|  **Unaudited Interim Consolidated Financial Statements** | **PAGE(S)** |
|  [UNAUDITED INTERIM CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, <br>2023 AND 2024](#T1990) | F-2 |
|  [UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED DECEMBER 31, 2023 AND 2024](#T1991) | F-3 |
|  [UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY FOR THE SIX MONTHS ENDED DECEMBER 31, 2023 AND 2024](#T1992) | F-4 |
|  [UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED DECEMBER 31, 2023 AND 2024](#T1993) | F-5 |
|  [NOTES TO UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS](#T1994) | F-6 – F-19 |

---

#### IDEA TECH HOLDING LIMITED.

#### INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

---

| | |
|:---|:---|
|  **Consolidated Financial Statements** | **PAGE(S)** |
|  [REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (PCAOB ID 5854)](#T1995) | F-20 |
|  [CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2023 AND 2024](#T1996) | F-21 |
|  [CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME FOR THE YEARS ENDED JUNE 30, 2023 AND 2024](#T1997) | F-22 |
|  [CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY FOR THE YEARS ENDED JUNE 30, 2023 AND 2024](#T1998) | F-23 |
|  [CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED JUNE 30, 2023 AND 2024](#T1999) | F-24 |
|  [NOTES TO CONSOLIDATED FINANCIAL STATEMENTS](#T2000) | F-25 – F-38 |

---

[**Table of Contents**](#TOC001)

#### IDEA TECH HOLDING LIMITED.<br>UNAUDITED INTERIM CONSOLIDATED BALANCE SHEETS<br> (In U.S. dollars, except for numbers of shares data)

---

| | | | |
|:---|:---|:---|:---|
|  | **Notes** | **December 31, <br>2024** | **June 30, <br>2024** |
|  **ASSETS:** |  |  |  |
|  **Current assets:** |  |  |  |
|  Cash and cash equivalents |  | 676433 | 456020 |
|  Accounts receivable, net | 10 | 995889 | 1606105 |
|  Inventories, net |  | 106849 | 195034 |
|  Prepayments and other current assets, net | 3 | 242816 | 129225 |
|  Deferred offering costs |  | 238661 |  |
|  **Total current assets** |  | $**2260648** | $**2386384** |
|  **Non-current assets:** |  |  |  |
|  Property and equipment, net | 4 | 8395 | 10898 |
|  Right-of-use assets, net | 8 | 154372 | 8758 |
|  Deferred tax assets | 7 | 202239 | 210981 |
|  **Total non-current assets** |  | $**365006** | $**230637** |
|  **TOTAL ASSETS** |  | $**2625654** | $**2617021** |
|  **LIABILITIES AND SHAREHOLDER'S EQUITY:** |  |  |  |
|  **Current liabilities:** |  |  |  |
|  Accounts payable |  | 3115 | 3072 |
|  Deferred revenue |  | 472286 | 722288 |
|  Income tax payable |  |  | 157808 |
|  Dividend payable | 5 |  | 640344 |
|  Accrued expense and other current liabilities | 6 | 141664 | 154608 |
|  Amounts due to a related party | 10 | 912710 | 315676 |
|  Operating lease liability, current | 8 | 53145 |  |
|  **Total current liabilities** |  | $**1582920** | $**1993796** |
|  **Non-current liabilities:** |  |  |  |
|  Operating lease liability, non-current | 8 | 101227 |  |
|  **Total non-current liabilities** |  | $**101227** | $— |
|  **TOTAL LIABILITIES** |  | $**1684147** | $**1993796** |
|  **Commitments and contingencies** | 9 |  |  |
|  **Shareholders' equity:** |  |  |  |
|  Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 12,500,000 shares issued and outstanding as of June 30, 2024 and December 31, 2024, respectively\* |  | 1250 | 1250 |
|  Receivable from shareholders |  |  | (1250) |
|  Additional paid-in capital |  | 191151 | 191151 |
|  Retained earnings |  | 740869 | 428967 |
|  Accumulated other comprehensive income |  | 8237 | 3107 |
|  **TOTAL SHAREHOLDERS' EQUITY** |  | $**941507** | $**623225** |
|  **TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY** |  | $**2625654** | $**2617021** |

---

____________

\* The shares and per share information are presented on a retroactive basis to reflect the reorganization completed on September 20, 2024.

The accompanying notes are an integral part of these consolidated financial statements.

[**Table of Contents**](#TOC001)

#### IDEA TECH HOLDING LIMITED.<br>UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF<br>INCOME AND COMPREHENSIVE INCOME<br> (In U.S. dollars, except for the number of shares data)

---

| | | | |
|:---|:---|:---|:---|
|  | **<br>Notes** | **For the six months ended <br>December 31,** | **For the six months ended <br>December 31,** |
|  | **<br>Notes** | **2024** | **2023** |
|  **Revenues:** |  |  |  |
| &nbsp;&nbsp;&nbsp; Software and hardware products | 10 | 1063958 | 1341059 |
| &nbsp;&nbsp;&nbsp; Training courses | 10 | 585494 | 709712 |
| &nbsp;&nbsp;&nbsp; Other services | 10 | 343114 | 68133 |
|  **Total revenues** |  | $**1992566** | $**2118904** |
|  **Cost of revenues:** |  |  |  |
| &nbsp;&nbsp;&nbsp; Software and hardware products |  | 647011 | 926221 |
| &nbsp;&nbsp;&nbsp; Training courses | 12 | 177315 | 214702 |
| &nbsp;&nbsp;&nbsp; Other services |  | 103731 | 60312 |
|  **Total cost of revenues** |  | $**928057** | $**1201235** |
|  **Gross profit** |  | $**1064509** | $**917669** |
|  Selling and marketing expenses |  | 58296 | 33971 |
|  General and administrative expenses |  | 657299 | 435137 |
|  **Income from operations** |  | $**348914** | $**448561** |
|  Other income, net |  | 1369 | 4591 |
|  **Income before income taxes** |  | $**350283** | $**453152** |
|  Income tax expenses | 7 | 38381 | 53532 |
|  **Net income** |  | $**311902** | $**399620** |
|  **Net income attributable to Idea Tech Holding Limited's shareholders** |  | $**311902** | $**399620** |
|  **Other comprehensive income** |  |  |  |
|  Foreign currency translation adjustment, net of nil tax |  | 5130 | 1803 |
|  **Total other comprehensive income** |  | $**5130** | $**1803** |
|  **Total comprehensive income** |  | $**317032** | $**401423** |
|  **Weighted average shares used in calculating earnings per share** |  |  |  |
|  Basic and diluted\* |  | 12500000 | 12500000 |
|  **Earnings per share** |  |  |  |
|  Basic and diluted |  | 0.03 | 0.03 |

---

____________

\* The shares and per share information are presented on a retroactive basis to reflect the reorganization completed on September 20, 2024.

The accompanying notes are an integral part of these consolidated financial statements.

[**Table of Contents**](#TOC001)

#### IDEA TECH HOLDING LIMITED.<br>UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF <br>CHANGES IN SHAREHOLDERS' EQUITY<br> (In U.S. dollars, except for the number of shares data)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **<br>Ordinary shares** | **<br>Ordinary shares** | **Receivable <br>from <br>shareholders** | **Additional <br>paid-in <br>Capital** | **Retained <br>Earnings** | **Accumulated <br>other <br>comprehensive <br>income** | **Total IDEA <br>Tech Holding <br>Limited. <br>shareholders' <br>equity** | **Total <br>Shareholders' <br>equity** |
|  | **Shares** | **Amount** | **Receivable <br>from <br>shareholders** | **Additional <br>paid-in <br>Capital** | **Retained <br>Earnings** | **Accumulated <br>other <br>comprehensive <br>income** | **Total IDEA <br>Tech Holding <br>Limited. <br>shareholders' <br>equity** | **Total <br>Shareholders' <br>equity** |
|  | **Numbers** | **US$** | **US$** | **US$** | **US$** | **US$** | **US$** | **US$** |
|  **Balance as of June 30, 2023\*** | **12500000** | **1250** | **(1250**) | **191151** | **31485** | **365** | **223001** | **223001** |
|  Dividends |  |  |  |  |  |  |  |  |
|  Net income |  |  |  |  | 399620 |  | 399620 | 399620 |
|  Foreign currency translation |  |  |  |  |  | 1803 | 1803 | 1803 |
|  **Balance as of December 31, 2023\*** | **12500000** | **1250** | **(1250**) | **191151** | **431105** | **2168** | **624424** | **624424** |
|  **Balance as of June 30, 2024\*** | **12500000** | **1250** | **(1250**) | **191151** | **428967** | **3107** | **623225** | **623225** |
|  Dividends |  |  |  |  |  |  |  |  |
|  Net income |  |  |  |  | 311902 |  | 311902 | 311902 |
|  Foreign currency translation |  |  |  |  |  | 5130 | 5130 | 5130 |
|  Capital received |  |  | 1250 |  |  |  | 1250 | 1250 |
|  **Balance as of December 31, 2024** | **12500000** | **1250** |  | **191151** | **740869** | **8237** | **941507** | **941507** |

---

____________

\* The shares and per share information are presented on a retroactive basis to reflect the reorganization completed on September 20, 2024. (Note 1)

The accompanying notes are an integral part of these consolidated financial statements.

[**Table of Contents**](#TOC001)

#### IDEA TECH HOLDING LIMITED.<br>UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS<br> (In U.S. dollars, except for the number of shares data)

---

| | | |
|:---|:---|:---|
|  | **For the six months ended <br>December 31,** | **For the six months ended <br>December 31,** |
|  | **2024** | **2023** |
|  **Cash flows from operating activities:** |  |  |
|  Net income | $**311902** | $**399620** |
|  ***Adjustments to reconcile net income to net cash provided by operating activities:*** |  |  |
|  Depreciation | 2563 | 2289 |
|  Allowance for doubtful accounts | 24666 | (1713) |
|  Amortization of ROU | 30927 | 26570 |
|  Deferred income taxes | 10001 | (14782) |
|  ***Changes in operating assets and liabilities:*** |  |  |
|  Accounts receivables | 593834 | 950051 |
|  Inventories | 89159 | (121668) |
|  Deferred offering costs | (238661) |  |
|  Prepayments and other current assets | (247736) | (143590) |
|  Accounts payable | 25 | (110074) |
|  Deferred revenue | (253781) | 91111 |
|  Operating lease liabilities, current and non-current | (22135) | (28805) |
|  Accrued expense and other current liabilities | 558545 | (510007) |
|  **Net cash provided by operating activities** | $**859309** | $**539002** |
|  **Cash flows from investing activities:** |  |  |
|  Purchase of property, equipment and software |  |  |
|  **Net cash used in investing activities** | $— | $**—** |
|  **Cash flows from financing activities:** |  |  |
|  Dividend distribution | (642777) | (638798) |
|  **Net cash used in financing activities** | $**(642777)** | $**(638798)** |
|  Effect of exchange rate changes on cash and cash equivalent | 3881 | 2063 |
|  **Net change in cash and cash equivalents** | $**220413** | $**(97733)** |
|  **Cash and cash equivalents at beginning of the year** | **456020** | **602398** |
|  **Cash and cash equivalents at end of the year** | **676433** | **504665** |
|  **Supplemental disclosure of cash flow information:** |  |  |
|  Income tax paid | 190026 | 409573 |
|  **Supplemental disclosures of non-cash activities:** |  |  |
|  Dividend payable |  | 467691 |

---

The accompanying notes are an integral part of these consolidated financial statements.

[**Table of Contents**](#TOC001)

**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**1. ORGANIZATION**

Idea Tech Holding Limited. ("Idea Tech Cayman") and its consolidated subsidiaries (collectively referred to as the "Company", or the "Group") are primarily engaged in selling programmable drones and accessories and providing related training courses in Hong Kong.

Idea Tech Cayman is a holding company incorporated in the Cayman Islands on July 15, 2024, under the Cayman Islands Act as an exempted company with limited liability. Idea Tech Cayman has no substantive operations other than conducting its business through its Hong Kong operating entity Ask Idea (Hong Kong) Limited ("Ask Idea").

#### Reorganization
For the purpose of the Company's initial listing of its ordinary shares (the "IPO"), the Company has performed a series of reorganization transactions (the "Reorganization") as described below:

Prior to the Reorganization as described below, our Company historically conducted our business through Ask Idea, a company incorporated under the laws of Hong Kong. EDU Blockchain Limited is ultimately controlled by a group of individual shareholders (the "Controlling Shareholders").

As part of the Reorganization, Idea Tech Cayman was incorporated under the laws of the Cayman Islands as a limited company on July 15, 2024 as a holding company, for purposes of effectuating this Offering. Idea Tech Cayman is a holding company and is currently not actively engaging in any business.

On September 12, 2024, Idea Tech Limited ("Idea Tech HK") was incorporated under the laws of Hong Kong. On the date of its incorporation, one (1) ordinary share was allotted and issued to Idea Tech Cayman, and Idea Tech HK became wholly owned by Idea Tech Cayman.

On September 20, 2024, EDU Blockchain Limited, the sole shareholder of Ask Idea, transferred 10,000 ordinary shares, representing 100% ownership of Ask Idea, to Idea Tech HK for a consideration of HKD1.00, and Ask Idea became wholly owned by Idea Tech HK.

After completing the Reorganization, Ask Idea became indirectly wholly owned by Idea Tech Cayman through the intermediate holding company Idea Tech HK. The following diagram illustrates the legal entity ownership structure of Idea Tech Cayman and its subsidiaries as of September 20, 2024.

![](tflowchart_002.jpg)

As a result of the fact that Idea Tech Cayman and its subsidiaries were effectively controlled by the same group of shareholders immediately before and after the reorganization completed in September 2024, as described above, the reorganization was accounted for as a recapitalization. As a result, the Company's consolidated financial statements have been prepared as if the current corporate structure has been in existence throughout the periods presented.

[**Table of Contents**](#TOC001)

**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**1. ORGANIZATION** (cont.)

As of the issuance date of this report, the details of subsidiaries are as follows. All subsidiaries are owned by Idea Tech Cayman through equity investment. We do not have a variable interest entity structure.

---

| | | | |
|:---|:---|:---|:---|
|  **Name** | **Background**  | **Ownership** | **Principal activities** |
|  Idea Tech Limited <br>("Idea Tech HK") | A Hong Kong company, incorporated on September 12, 2024  | Wholly-owned by the Company | Investment holding |
|  Ask Idea (Hong Kong) Limited ("Ask Idea") | A Hong Kong company, incorporated on August 14, 2018 | Wholly-owned by Idea Tech HK | Provision of innovative training programs and high-quality educational products |

---

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

(a) Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") for the periods presented. The consolidated financial statements have been prepared on an ongoing basis.

(b) Basis of Consolidation

The consolidated financial statements include the financial statements of the Company and its subsidiaries.

A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power, has the power to appoint or remove the majority of the members of the board of directors, to cast a majority of votes at the meeting of the board of directors or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.

All transactions and balances between the Company and its subsidiaries have been eliminated upon consolidation.

(c) Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date, and revenues and expenses in the consolidated financial statements and accompanying notes.

The estimates used for, but not limited to, determining sales return reserves, income taxes, the collectability of accounts and other receivables, inventory valuation, warranties, fair value of long-lived assets. We have assessed the impact and are not aware of any specific events or circumstances that required an update to our estimates and assumptions or materially affected the carrying value of our assets or liabilities as of the date of issuance of this report. These estimates may change as new events occur and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions.

(d) Foreign Currencies

[**Table of Contents**](#TOC001)

**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

The following table outlines the exchange rates between HK$ and US$ that are used in preparing these consolidated financial statements:

---

| | | |
|:---|:---|:---|
|  | **For the six months ended <br>December 31,** | **For the six months ended <br>December 31,** |
|  | **2024** | **2023** |
|  **Average rate** | 7.7788 | 7.8272 |

---

---

| | | |
|:---|:---|:---|
|  | **December 31,<br> 2024** | **June 30,<br> 2024** |
|  **Period-end spot rate** | 7.7617 | 7.8083 |

---

Transactions denominated in other than the functional currencies are translated into the functional currency of the entity at the exchange rates quoted by authoritative banks prevailing on the transaction dates. Exchange gains and losses resulting from those foreign currency transactions denominated in a currency other than the functional currency are recorded in the Consolidated statements of comprehensive income (loss).

(e) Fair Value Measurements

Fair value reflects the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurement for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.

The Company applies a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value:

Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 — Include other inputs that are directly or indirectly observable in the marketplace.

Level 3 — Unobservable inputs which are supported by little or no market activity.

Accounting guidance also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach, (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

The Company's financial instruments include cash and cash equivalents, accounts receivable, prepayments and other current assets, accounts payable, accrued expense and other current liabilities. As of June 30, 2024 and December 31, 2024, the carrying values of these financial instruments approximated their fair values due to the short-term maturity of these instruments.

(f) Earnings Per Share

Basic earnings per share is calculated by dividing net income attributable to common shareholders by the weighted-average outstanding commons shares for the period. For the six months ended December 31, 2023 and 2024, there was no potentially diluted shares. The shares and per share information are presented on a retroactive basis to reflect the reorganization completed on September 20, 2024.

[**Table of Contents**](#TOC001)

**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

The following table shows the calculation of basic and diluted shares:

---

| | | |
|:---|:---|:---|
|  | **For the six months ended <br>December 31,** | **For the six months ended <br>December 31,** |
|  | **2024** | **2023** |
|  Net income attributable to common shareholders | $311902 | $399620 |
|  Weighted-average shares used in computing basic and diluted earnings per share | 12500000 | 12500000 |
|  **Basic and diluted earnings per share** | $**0.03** | $**0.03** |

---

(g) Cash and Cash Equivalents

Cash and cash equivalents comprise cash at banks and on hand, demand deposits and highly liquid investments which are unrestricted as to withdrawal or use, and which have original maturities of three months or less when purchased.

(h) Accounts receivables, net

Accounts receivable represent the amounts that the Company has an unconditional right to consideration. Accounts receivable are recorded at net realizable value, consisting of the carrying amount less an allowance for credit losses, as necessary.

We maintain an allowance for doubtful accounts to reserve for potentially uncollectible receivable amounts which is estimated using the approach based on expected losses. The allowance for doubtful accounts consist of the following:

---

| | | |
|:---|:---|:---|
|  | **For the six months ended <br>December 31,** | **For the six months ended <br>December 31,** |
|  | **2024** | **2023** |
|  Allowance for doubtful accounts – beginning of period | $36448 | $11324 |
|  Additions/(Reversal) | 24666 | (1713) |
|  Net changes in foreign exchange impact | 273 | 34 |
|  **Allowance for doubtful accounts – end of period** | $**61387** | $**9645** |

---

The estimation of allowance for doubtful accounts considers factors such as historical credit loss experience, age of receivable balances, current market conditions, reasonable and supportable forecasts of future economic conditions, as well as an assessment of receivables due from specific identifiable counterparties to determine whether these receivables are considered at risk or uncollectible.

(i) Deferred offering costs

Deferred offering costs consist of legal, consulting, underwriting fees and other costs incurred through the balance sheet date that are directly related to the proposed public offering. These costs, together with the underwriting discounts and commissions, will be charged to additional paid-in capital, net against the gross proceeds, upon completion of the proposed public offering. Should the proposed public offering prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be charged to operations.

(j) Inventories

Inventories consist of merchandise available for sale. They are accounted for using the weighted average cost method and stated at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. The inventory valuation allowance, representing a write-down of inventory was nil as of June 30, 2024 and December 31, 2024.

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**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

(k) Property and equipment, net

Property and equipment are stated at cost less accumulated depreciation and any impairment loss. Depreciation is computed using the straight-line method with no residual value based on the estimated useful lives of the various classes of assets, which range as follows:

---

| | |
|:---|:---|
|  **Category** | **Estimated useful lives**  |
|  Office equipment | 5 years |

---

(l) Impairment of long-lived assets

We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, we measure impairment by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, we would recognize an impairment loss calculated as an amount by which the carrying value of the cost exceeds its fair value. No impairment charge was recognized for the six months ended December 31, 2023 and 2024.

(m) Revenue recognition

Revenue is principally generated from sales of software and hardware products, training courses, and other services (including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products). Revenue represents the amount of consideration the Company is entitled to upon the transfer of promised goods or services in the ordinary course of the Company's activities. Consistent with the criteria of ASC 606 "Revenue from Contracts with Customers", the Company recognizes revenue when performance obligations are satisfied by transferring control of a promised good or service to a customer. For performance obligations that are satisfied at a point in time, the Company also considers the following indicators to assess whether control of a promised good or service is transferred to the customer: (i) right to payment, (ii) legal title, (iii) physical possession, (iv) significant risks and rewards of ownership and (v) acceptance of the good or service. For performance obligations satisfied over time, the Company recognizes revenue over time by measuring the progress toward complete satisfaction of a performance obligation.

For revenue arrangements with multiple distinct performance obligations, each distinct performance obligation is separately accounted for and the total consideration is allocated to each performance obligation based on the relative standalone selling price at contract inception.

The Company evaluates if it is a principal or an agent in a transaction to determine whether revenue should be recorded on a gross or net basis. The Company is acting as the principal if it obtains control over the goods and services before they are transferred to customers. Generally, when the Company is primarily obligated in a transaction, is subject to inventory risk, has latitude in establishing prices, or has several but not all of these indicators, the Company acts as the principal and revenue is recorded on a gross basis. Generally, when the Company is not primarily obligated in a transaction, does not bear the inventory risk and does not have the ability to establish the price, the Company acts as the agent and revenue is recorded on a net basis.

The following table disaggregates our revenue by major source:

---

| | | |
|:---|:---|:---|
|  | **For six months ended <br>December 31,** | **For six months ended <br>December 31,** |
|  | **2024** | **2023** |
|  Software and hardware products | 1063958 | 1341059 |
|  Training courses | 585494 | 709712 |
|  Other services | 343114 | 68133 |
|  **Total revenues** | $**1992566** | $**2118904** |

---

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**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

*Sales of software and hardware products and training courses*

We earn revenues of sales of software products and hardware products mainly from the delivery of programmable drones, accessories and e-learning courses, and the delivery of training courses to Hong Kong schools. The sales of products, e-learning courses and training courses and their respective prices are separately identifiable in the context of the contracts with customers, and the customers can benefit from each service on its own, therefore we determined they are separate performance obligations.

We recognize revenues on sales of software and hardware products upon delivery to the customers, which is when the control of the products transfers. Invoices are typically issued at the point control transfers and fees are received within several months. We also recognize a sales return reserve based on historical experience. The sales return reserve has been insignificant for the six months ended December 31, 2023 and 2024.

We offer e-learning courses to Hong Kong schools. The e-learning courses are operated by our suppliers, and we are acting as an agent in these transactions. The commissions and any related fulfillment fees we earn from these arrangements are recognized when the services are rendered, which generally occurs upon activation of the e-learning users.

The revenues received for training courses are recognized proportionately as the courses are delivered and are reported net of tuition refunds. Tuition paid in advance is recorded as deferred revenue. Tuition refunds have been insignificant for the six months ended December 31, 2023 and 2024.

*Other services*

Other services include hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products.

Revenues related to hosting technology-focused competitions and events, organizing technology-themed study tours, are recognized upon completion of the competitions, events and tours.

Revenues related to repair and maintenance are recognized over time as services are provided. Payments are received together with the goods sales and recorded in deferred revenue, which is recognized as revenue ratably over the respective customer contract term. The contract terms are generally a 12-month period.

Deferred revenue related to training courses and other services consist of the following:

---

| | | |
|:---|:---|:---|
|  | **For the six months ended <br>December 31,** | **For the six months ended <br>December 31,** |
|  | **2024** | **2023** |
|  Deferred revenue – beginning of period | $722289 | $548094 |
|  Additions | 83687 | 254606 |
|  Net changes in foreign exchange impact | 3778 | 1973 |
|  Revenue recognized | (337468) | (163495) |
|  **Deferred revenue – end of period** | $**472286** | $**641178** |

---

Deferred revenue is equivalent to the total transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, as of the balance sheet date. Revenue recognized from the deferred revenue balance as of June 30, 2023 and 2024 was US$163,495 and US$337,468 for the six months ended December 31, 2023 and 2024, respectively. Of the total deferred revenue balances as of December 31, 2024, we expect to recognize US$25,413 of revenue in the next 12 months. The remaining balance will be recognized at the time of services are rendered.

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**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

(n) Cost of Revenues

*Sale of software and hardware products*

Cost of software and hardware products sold includes direct products, shipping and logistic costs, and charges to write down the carrying value of inventory when it exceeds its estimated net realizable value and to provide for obsolete inventory.

*Training courses*

The cost of training courses includes fees paid to tutors and tutor management service fees.

*Other services*

The cost of revenues of other services, including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products, mainly consists of venue and support costs, trip expenses, and outsourced repair and maintenance costs.

(o) Selling and marketing expenses

Selling and marketing expenses primarily consist of (i) rents for product and service display stores, and (ii) cost of marketing goods.

(p) General and Administrative Expenses

General and administrative expenses primarily consist of (i) salaries and benefits for administrative personnel, (ii) professional service fees, (iii) office expenses, (iv) travel and transportation expenses, and (v) other expenses, including depreciation expenses, insurance expenses, bank charges, tax expenses, bad debt expenses, etc.

(q) Income taxes

Current income taxes are recorded in accordance with the regulations of the relevant tax jurisdiction. We account for income taxes under the asset and liability method in accordance with ASC 740, Income Tax.

Under this method, deferred tax assets and liabilities are recognized for the tax consequences attributable to differences between carrying amounts of existing assets and liabilities in the financial statements and their respective tax basis, and operating loss carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in the consolidated statements of comprehensive income in the period of change. Valuation allowances are established when necessary to reduce the amount of deferred tax assets if it is considered more likely than not that the amount of the deferred tax assets will not be realized.

We adopted ASC 740 "Income Tax", which provides guidance for recognizing and measuring uncertain tax positions, it prescribes a threshold condition that a tax position must meet for any of the benefits of the uncertain tax position to be recognized in the financial statements. It also provides accounting guidance on derecognizing, classification and disclosure of these uncertain tax positions. The Group's policy on classification of all interest and penalties related to unrecognized income tax positions, if any, is to present them as a component of income tax expenses.

(r) Lease

We determine if an arrangement is a lease at inception. Leases that transfer substantially all of the benefits and risks incidental to the ownership of assets are accounted for as finance leases as if there was an acquisition of an asset and incurrence of an obligation at the inception of the lease. All other leases are accounted for as operating leases. The Company has no finance leases.

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**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

We recognize lease liabilities and corresponding right-of-use assets on the balance sheet for leases. Operating lease right-of-use assets are included in right-of-use assets, and operating lease liabilities are included in accrued expense and other current liabilities and lease liabilities on the consolidated balance sheets. Operating lease right-of-use assets and operating lease liabilities are initially recognized based on the present value of future lease payments at lease commencement. The operating lease right-of-use asset also includes any lease payments made prior to lease commencement and the initial direct costs incurred by the lessee and is recorded net of any lease incentives received. As the interest rates implicit in most of the leases are not readily determinable, the Company uses the incremental borrowing rates based on the information available at lease commencement to determine the present value of the future lease payments. Operating lease expenses are recognized on a straight-line basis over the term of the lease.

We have lease agreements with lease and non-lease components, and have elected to utilize the practice expedient to account for lease and non-lease components together as a single combined lease component.

We have elected not to present short-term leases on the consolidated balance sheet as these leases have a lease term of 12 months or less at lease inception and do not contain purchase options or renewal terms that we are reasonably certain to exercise.

(s) Government Incentives

We received government incentives for our business. Government incentives are recorded in our consolidated financial statements in other income, net. The benefit is generally recorded when all conditions attached to the incentive have been met.

(t) Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker (the "CODM"), which is comprised of members of the Company's management team, who reviews consolidated results when making decisions about allocating resources and assessing performance as a whole and hence, we have only one reportable segment. Our revenues are derived from Hong Kong subsidiaries and our services and products are mainly offered to customers based in Hong Kong and a small portion is provided to customers overseas through our partners. The following table sets forth a breakdown of our revenues by geographic area:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the six months ended December 31,** | **For the six months ended December 31,** | **For the six months ended December 31,** | **For the six months ended December 31,** |
|  | **2024** | **2024** | **2023** | **2023** |
|  | **US$** | **%** | **US$** | **%** |
|  Hong Kong | 1937493 | 97.24% | 2103956 | 99.29% |
|  Other countries | 55073 | 2.76% | 14948 | 0.71% |
|  **Total** | **1992566** | **100.00**% | **2118904** | **100.00**% |

---

Our long-lived assets are all located in Hong Kong.

(u) Concentration of risk

*Credit Risk*

Financial instruments that potentially subject us to the concentration of credit risks consist of cash and cash equivalents, accounts receivable and other receivables. The maximum exposures of such assets to credit risk are their carrying amounts as of the balance sheet dates. As of December 31, 2023 and 2024, all of our cash and cash equivalents were held in major financial institutions located in Hong Kong, which we consider to be of high credit quality based on their credit ratings.

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**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

We have not experienced any significant recoverability issue with respect to its accounts receivable. As of December 31, 2023 and 2024, there was no customer with greater than 10% of the accounts receivable, respectively.

*Supply Risk*

We are dependent on our suppliers, including single source suppliers, and the inability of these suppliers to deliver necessary components of our products in a timely manner at prices, quality levels and volumes acceptable to us, or our inability to efficiently manage these components from these suppliers, could have a material adverse effect on our business, prospects, financial condition and operating results.

Suppliers from whom individually represent greater than 10% of our total purchases for the six months ended December 31, 2023 and 2024, are as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the six months ended December 31,** | **For the six months ended December 31,** | **For the six months ended December 31,** | **For the six months ended December 31,** |
|  | **2024** | **2024** | **2023** | **2023** |
|  | **US$** | **%** | **US$** | **%** |
|  Supplier A | 145427 | 15.67% | 699780 | 58.26% |
|  Supplier B | 195687 | 21.09% |  |  |
|  Supplier C | 107098 | 11.54% | 53121 | 4.42% |

---

(v) Commitments and contingencies

In the normal course of business, we are subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters, such as government investigations and tax matters. Liability for contingency is recorded when it is probable that a loss has occurred and a reasonable estimate of the loss can be made. If the potential material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingency liability, together with an estimate of the range of possible loss, if determined and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed.

(w) Recent Accounting Pronouncements

We qualify as an "emerging growth company", or EGC, pursuant to the Jumpstart Our Business Startups Act of 2012, as amended, or the JOBS Act. As an EGC, the Company does not need to comply with any new or revised financial accounting standards until such date that a private company is otherwise required to comply with such new or revised accounting standards. We will adopt the standards based on the extended transition period provided to private companies.

In November 2023, the FASB issued ASU No. 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker ("CODM") and included within each reported measure of a segment's profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment's profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is also permitted. We are currently evaluating the impact of the new guidance on its consolidated financial statement.

In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as additional information on income taxes paid. For public business entities, this standard is effective for annual periods beginning

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**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

after December 15, 2024. For non-public business entities, this standard is effective for annual periods beginning after December 15, 2025. Early adoption is permitted, and the disclosures in this standard are required to be applied on a prospective basis with the option to apply the standard retrospectively. We are currently evaluating the potential impact of the new guidance on its consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses (Topic 220-40). The ASU requires more detailed disclosure for expenses. The ASU is effective for annual reporting periods beginning after December 15, 2026, with early adoption permitted. The amendments can be applied on either a prospective or retroactive basis. We are currently evaluating the ASU to determine its impact on our disclosures.

**3. PREPAYMENTS AND OTHER CURRENT ASSETS, NET**

Prepayments and other current assets consist of the following:

---

| | | |
|:---|:---|:---|
|  | **December 31,<br> 2024** | **June 30,<br> 2024** |
|  Prepayment for product procurement<sup>(i)</sup> | 141621 | 107647 |
|  Rental deposits | 22513 | 21578 |
|  Other receivable | 89 |  |
|  Prepaid audit fee | 75305 |  |
|  Prepaid taxes | 3288 |  |
|  **Total** | $**242816** | $**129225** |

---

____________

(i) Prepayment for product procurement mainly represents cash prepaid to our third-party supplier for the procurement of products.

**4. PROPERTY AND EQUIPMENT, NET**

As of December 31, 2023 and 2024, property and equipment, net consist of the following:

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| | | |
|:---|:---|:---|
|  | **December 31,<br> 2024** | **June 30,<br> 2024** |
|  Office equipment | 25681 | 25527 |
|  **Gross amount** | $**25681** | $**25527** |
|  Less: Accumulated depreciation | 17192 | 14629 |
|  Net changes in foreign exchange impact | (94) |  |
|  **Total property and equipment, net** | $**8395** | $**10898** |

---

Depreciation expenses were US$2,289 and US$2,563 for the six months ended December 31, 2023 and 2024, respectively. No impairment charges were recorded for the six months ended December 31, 2023 and 2024, respectively.

**5. DIVIDENDS**

An annual dividend for the 12-month ended December 31, 2021 of HK$3,955,100 (US$504,752) was declared on August 31, 2022. The annual dividend of HK$400,000 (US$51,039) and HK$3,555,100 (US$453,713) were paid during the years ended June 30, 2022 and 2023, respectively.

An annual dividend for the 12-month ended December 31, 2022 of HK$9,653,088 (US$1,231,842) was declared on May 15, 2023. The annual dividend of HK$1,000,000 (US$127,611) and HK$8,653,088 (US$1,104,231) were paid during the year ended June 30, 2023 and 2024, respectively.

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**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**5. DIVIDENDS** (cont.)

An annual dividend for the 12-month ended December 31, 2023 of HK$5,000,000 (US$640,344) was declared on June 3, 2024. The annual dividend of HK$5,000,000 (US$642,777) was paid during the six months ended December 31, 2024.

Dividend payable consist of the following:

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| | | |
|:---|:---|:---|
|  | **For the six months ended <br>December 31,** | **For the six months ended <br>December 31,** |
|  | **2024** | **2023** |
|  Dividend payable – beginning of period | $640344 | $1104231 |
|  Cash dividend declared |  |  |
|  Net changes in foreign exchange impact | 2433 | 2258 |
|  Cash dividend paid | (642777) | (638798) |
|  **Dividend payable – end of period** | $**—** | $**467691** |

---

**6. ACCRUED EXPENSE AND OTHER LIABILITIES**

Accrued expenses and other current liabilities consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **December 31,<br> 2024** | **June 30,<br> 2024** |
|  Accrued bonus and staff costs | 79732 | 40065 |
|  Accrued tutor fees | 18580 | 44024 |
|  Accrued operating expense | 43352 | 70519 |
|  **Total** | $**141664** | $**154608** |

---

**7. INCOME TAXES**

Cayman Islands

The Company was incorporated in the Cayman Islands and is not subject to tax on income or capital gains under the laws of the Cayman Islands. The Company mainly conducts its operating business through its subsidiary in Hong Kong. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders.

Hong Kong

The Company's Hong Kong subsidiary, Ask Idea (Hong Kong) Limited, is subject to Hong Kong Profits Tax on their taxable income as reported in their statutory financial statements adjusted in accordance with relevant Hong Kong tax laws. Hong Kong Profits Tax has been calculated at 8.25% for assessable profits on the first HK$2 million and 16.5% for any assessable profits in excess of HK$2 million for the six months ended December 31, 2023 and 2024.

The provision for income taxes for six months ended December 31, 2023 and 2024 are as follows:

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| | | |
|:---|:---|:---|
|  | **For the six months ended <br>December 31,** | **For the six months ended <br>December 31,** |
|  | **2024** | **2023** |
|  **Provisions for current income tax** |  |  |
|  Hong Kong | 28380 | 68314 |
|  **Provisions for deferred income tax** |  |  |
|  Hong Kong | 10001 | (14782) |
|  **Total** | $**38381** | $**53532** |

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**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**7. INCOME TAXES** (cont.)

The reconciliation of taxes at the Hong Kong profit tax rate to our provision for income taxes for the six months ended December 31, 2023 and 2024 was as follows:

---

| | | |
|:---|:---|:---|
|  | **For the six months ended <br>December 31,** | **For the six months ended <br>December 31,** |
|  | **2024** | **2023** |
|  **Income before income taxes** | **350283** | **453152** |
|  **Less: Cayman loss before tax** | (9911) |  |
|  **Hong Kong income before tax** | **360194** | **453152** |
|  Hong Kong profit tax rate | 16.5% | 16.5% |
|  **Tax at Hong Kong profit tax rate** | **59432** | **74770** |
|  First HK$2 million profit at 8.25% rate | (21051) | (21238) |
|  **Provision for income taxes** | $**38381** | $**53532** |

---

Deferred tax assets (liabilities) as of December 31, 2023 and 2024 consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **December 31,<br> 2024** | **June 30,<br> 2024** |
|  **Deferred tax assets:** |  |  |
|  Deferred revenue and allowance for bad debt provision | 161744 | 179954 |
|  Accrued expense | 52625 | 70314 |
|  **Deferred tax liabilities:** |  |  |
|  Inventory | (12130) | (39287) |
|  **Total deferred tax assets, net** | $**202239** | $**210981** |

---

Under relevant Hong Kong tax laws, a tax case is normally subject to investigation by the tax authority for up to 6 years of assessment prior to the current year of assessment, unless in a case of fraud or willful evasion, then the investigation can be extended to cover 10 years of assessment. As of December 31, 2023 and 2024, we had no open tax investigation from the tax authority.

**8. LEASE**

We have operating leases for an office and two stores that we utilize under lease arrangement. Lease term for office is 3-year. Lease terms for two stores are both one year which are classified as short-term lease. We do not have finance lease.

The balances and other information for the operating leases where we are the lessee are presented as follows within our consolidated balance sheets:

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| | | |
|:---|:---|:---|
|  | **December 31,<br> 2024** | **June 30,<br> 2024** |
|  **Operating lease right-of-use assets** | **154372** | **8758** |
|  Lease liabilities – current | 53145 | **—** |
|  Lease liabilities – non-current | 101227 | **—** |
|  **Total operating lease liabilities** | $**154372** | $**—** |

---

---

| | | |
|:---|:---|:---|
|  | **December 31,<br> 2024** | **June 30,<br> 2024** |
|  Weighted discount rate for the operating lease | 10% | 10% |
|  Weighted average remaining lease term | 32 months | 2 months |

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**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**8. LEASE** (cont.)

Because the leases do not provide an implicit rate of return, the Company used the incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments.

The components of lease expense are as follows within our consolidated statements of operations:

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| | | |
|:---|:---|:---|
|  | **For the six months ended <br>December 31,** | **For the six months ended <br>December 31,** |
|  | **2024** | **2023** |
|  Operating lease expense<sup>(i)</sup> | 30927 | 26570 |
|  Cash paid for operating lease | 32449 | 30092 |
|  Right-of-use assets obtained in exchange for operating lease liabilities |  |  |

---

____________

(i) Operating lease expense includes short-term leases and variable lease costs.

We renew the office lease for 3 years in August 2024 and renew the leases for two shops for 2 years in April 2025. The following is a schedule of future minimum payments of the lease:

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| | |
|:---|:---|
|  **For the six months ended December 31,** | **Amount** |
| 2025 | 53138 |
| 2026 | 97269 |
| 2027 | 94667 |
| 2028 | 11008 |
|  **Total lease payments** | $**256082** |

---

**9. COMMITMENTS AND CONTINGENCIES**

*Commitments*

As of December 31, 2023 and 2024, other than lease commitment disclosed elsewhere in these consolidated financial statements, we had neither significant financial nor capital commitment.

*Contingencies*

As of December 31, 2023 and 2024, the Company was not a party to any material legal or administrative proceedings.

**10. RELATED PARTY TRANSACTIONS**

---

| | |
|:---|:---|
|  **Name of related parties** | **Relationship with the Company** |
|  Jumbo Will Ltd | A shareholder of the Company |
|  Next Education Limited | Jumbo Will Ltd hold 10% shares of Next Education Limited |
|  EDU Blockchain Limited | Under common control company |

---

The following table summarizes goods and services received from related parties, included in cost of revenues — training courses in the consolidated statements of income:

---

| | | | |
|:---|:---|:---|:---|
|  |  | **For the six months ended <br>December 31,** | **For the six months ended <br>December 31,** |
|  **Name of related parties** | **Nature** | **2024** | **2023** |
|  Next Education Limited | Tutor management services | 55,000 | 81,309 |

---

[**Table of Contents**](#TOC001)

**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**10. RELATED PARTY TRANSACTIONS** (cont.)

The following table summarizes goods and services provided to related parties, included in the revenues in the consolidated statements of income:

---

| | | | |
|:---|:---|:---|:---|
|  |  | **For the six months ended <br>December 31,** | **For the six months ended <br>December 31,** |
|  **Name of related parties** | **Nature** | **2024** | **2023** |
|  EDU Blockchain Limited | Hosting event services | 63880 |  |
|  Jumbo Will Ltd | Hardware and software products and training services | 852 | 17915 |
|  Next Education Limited | Hardware and software products and training services | 3415 | 6584 |

---

The following table summarizes related party balances:

---

| | | | |
|:---|:---|:---|:---|
|  **Name of related parties** | **Included in consolidated balance sheets** | **December 31,<br> 2024** | **June 30,<br> 2024** |
|  Jumbo Will Ltd | Accounts receivable, net | 9699 |  |
|  Next Education Limited | Accounts receivable, net | 19427 | 12754 |
|  EDU BlockChain Limited | Amounts due to a related party | (660931) |  |
|  Next Education Limited | Amounts due to a related party | (251779) | (315676) |

---

**11. EQUITY**

The shareholders' equity structure as of December 31, 2024 are presented after giving retroactive effect to the reorganization of the Company that was completed on September 20, 2024. Immediately before and after reorganization, the Company, together with its wholly-owned subsidiaries, were effectively controlled by the same shareholders; therefore, for accounting purposes, the reorganization was accounted for as a recapitalization.

*Authorized Shares*

As of the date of this report, the Company has 500,000,000 authorized ordinary shares, par value US$0.0001 per share.

*Ordinary Shares*

As of the date of this report, the Company has 12,500,000 ordinary shares were issued to the participating shareholders, fully paid and outstanding, in connection with the reorganization of the Company.

**12. SUBSEQUENT EVENTS**

We have evaluated events from the six months ended December 31, 2024 through the date of this report. On February 10, 2025, the Board of the Company agrees to participate in the establishment of HK IDEA Innovation Group Limited with maximums of holding 10% shares and investment amount of HK$100,000. HK IDEA Innovation Group Limited will be incorporated in Hong Kong engaging its business of human resource service.

[**Table of Contents**](#TOC001)

![](ttaad_logo.jpg)

#### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and <br>Shareholders of Idea Tech <br>Holding Limited

#### Opinion on the Consolidated Financial Statements
We have audited the accompanying balance sheets of Idea Tech Holding Limited (the Company) as of June 30, 2024 and 2023, and the related consolidated balance sheets, consolidated statements of income and comprehensive income, consolidated statements of changes in shareholders' equity, and consolidated statements of cash flows for each of the years in the two-year period ended June 30, 2024 and 2023, and the related notes (collectively referred to as the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2024 and 2023, and the results of its operations and its consolidated statements of cash flows for each of the years in the two-year period ended June 30, 2024 and 2023, in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These consolidated financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

![](ttaad_sig.jpg)

We have served as the Company's auditor since 2024.

Diamond Bar, California

March 31, 2025

[**Table of Contents**](#TOC001)

#### IDEA TECH HOLDING LIMITED.

#### CONSOLIDATED BALANCE SHEETS
(In U.S. dollars, except for numbers of shares data)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **As of June 30,** | **As of June 30,** |
|  | **Notes** | **2024** | **2023** |
|  **ASSETS:** |  |  |  |
|  **Current assets:** |  |  |  |
|  Cash and cash equivalents |  | 456020 | 602398 |
|  Accounts receivable, net | 10 | 1606105 | 2000552 |
|  Inventories, net |  | 195034 | 137762 |
|  Prepayments and other current assets, net | 3 | 129225 | 75364 |
|  **Total current assets** |  | $**2386384** | $**2816076** |
|  **Non-current assets:** |  |  |  |
|  Property and equipment, net | 4 | 10898 | 12899 |
|  Right-of-use assets, net | 8 | 8758 | 57884 |
|  Deferred tax assets |  | 210981 | 209755 |
|  **Total non-current assets** |  | $**230637** | $**280538** |
|  **TOTAL ASSETS** |  | $**2617021** | $**3096614** |
|  **LIABILITIES AND SHAREHOLDER'S EQUITY:** |  |  |  |
|  **Current liabilities:** |  |  |  |
|  Accounts payable |  | 3072 | 184571 |
|  Deferred revenue |  | 722288 | 548094 |
|  Income tax payable |  | 157808 | 386358 |
|  Dividend payable | 5 | 640344 | 1104231 |
|  Accrued expense and other current liabilities | 6 | 154608 | 159818 |
|  Amounts due to a related party | 10 | 315676 | 438661 |
|  Operating lease liability, current | 8 |  | 42352 |
|  **Total current liabilities** |  | $**1993796** | $**2864085** |
|  **Non-current liabilities:** |  |  |  |
|  Operating lease liability, non-current | 8 |  | 9528 |
|  **Total non-current liabilities** |  | $**—** | $**9528** |
|  **TOTAL LIABILITIES** |  | $**1993796** | $**2873613** |
|  **Commitments and contingencies** | 9 |  |  |
|  **Shareholders' equity:** |  |  |  |
|  Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 12,500,000 shares issued and outstanding as of June 30, 2023 and 2024, respectively\* |  | 1250 | 1250 |
|  Receivable from shareholders |  | (1250) | (1250) |
|  Additional paid-in capital |  | 191151 | 191151 |
|  Retained earnings |  | 428967 | 31485 |
|  Accumulated other comprehensive income |  | 3107 | 365 |
|  **TOTAL SHAREHOLDERS' EQUITY** |  | $**623225** | $**223001** |
|  **TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY** |  | $**2617021** | $**3096614** |

---

____________

\* The shares and per share information are presented on a retroactive basis to reflect the reorganization completed on September 20, 2024.

The accompanying notes are an integral part of these consolidated financial statements.

[**Table of Contents**](#TOC001)

#### IDEA TECH HOLDING LIMITED.

#### CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(In U.S. dollars, except for the number of shares data)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **For the year ended June 30,** | **For the year ended June 30,** |
|  | **Notes** | **2024** | **2023** |
|  **Revenues:** |  |  |  |
| &nbsp;&nbsp;&nbsp; Software and hardware products | 10 | 2664915 | 2925459 |
| &nbsp;&nbsp;&nbsp; Training courses | 10 | 1660785 | 1856097 |
| &nbsp;&nbsp;&nbsp; Other services | 10 | 252113 | 341955 |
|  **Total revenues** |  | $**4577813** | $**5123511** |
|  **Cost of revenues:** |  |  |  |
| &nbsp;&nbsp;&nbsp; Software and hardware products |  | (1739585) | (1852351) |
| &nbsp;&nbsp;&nbsp; Training courses | 10 | (530041) | (769110) |
| &nbsp;&nbsp;&nbsp; Other services |  | (125855) | (37792) |
|  **Total cost of revenues** |  | $**(2395481)** | $**(2659253)** |
|  **Gross profit** |  | $**2182332** | $**2464258** |
|  Selling and marketing expenses |  | (101840) | (98710) |
|  General and administrative expenses |  | (891267) | (819724) |
|  **Income from operations** |  | $**1189225** | $**1545824** |
|  Other income, net |  | 28414 | 50910 |
|  **Income before income taxes** |  | $**1217639** | $**1596734** |
|  Income tax expenses | 7 | (179813) | (242267) |
|  **Net income** |  | $**1037826** | $**1354467** |
|  **Net income attributable to Idea Tech Holding Limited's shareholders** |  | $**1037826** | $**1354467** |
|  **Other comprehensive income** |  |  |  |
|  Foreign currency translation adjustment, net of nil tax |  | 2742 | 365 |
|  **Total other comprehensive income** |  | $**2742** | $**365** |
|  **Total comprehensive income** |  | $**1040568** | $**1354832** |
|  **Weighted average shares used in calculating earnings per share** |  |  |  |
|  Basic and diluted\* |  | 12500000 | 12500000 |
|  **Earnings per share** |  |  |  |
|  Basic and diluted |  | 0.08 | 0.11 |

---

____________

\* The shares and per share information are presented on a retroactive basis to reflect the reorganization completed on September 20, 2024.

The accompanying notes are an integral part of these consolidated financial statements.

[**Table of Contents**](#TOC001)

#### IDEA TECH HOLDING LIMITED.

#### CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
(In U.S. dollars, except for the number of shares data)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **<br>Ordinary shares** | **<br>Ordinary shares** | **Receivable <br>from <br>shareholders** | **Additional <br>paid-in <br>Capital** | **Retained <br>Earnings** | **Accumulated <br>other <br>comprehensive <br>income** | **Total IDEA <br>Tech Holding <br>Limited. <br>shareholders' <br>equity** | **Total <br>Shareholders' <br>equity** |
|  | **Shares** | **Amount** | **Receivable <br>from <br>shareholders** | **Additional <br>paid-in <br>Capital** | **Retained <br>Earnings** | **Accumulated <br>other <br>comprehensive <br>income** | **Total IDEA <br>Tech Holding <br>Limited. <br>shareholders' <br>equity** | **Total <br>Shareholders' <br>equity** |
|  | **Numbers** | **US$** | **US$** | **US$** | **US$** | **US$** | **US$** | **US$** |
|  **Balance as of June 30, 2022\*** | **12500000** | **1250** | **(1250)** | **191151** | **(91140)** | **—** | **100011** | **100011** |
|  Dividends |  |  |  |  | (1231842) |  | (1231842) | (1231842) |
|  Net income |  |  |  |  | 1354467 |  | 1354467 | 1354467 |
|  Foreign currency translation |  |  |  |  |  | 365 | 365 | 365 |
|  **Balance as of June 30, 2023\*** | **12500000** | **1250** | **(1250)** | **191151** | **31485** | **365** | **223001** | **223001** |
|  Dividends |  |  |  |  | (640344) |  | (640344) | (640344) |
|  Net income |  |  |  |  | 1037826 |  | 1037826 | 1037826 |
|  Foreign currency translation |  |  |  |  |  | 2742 | 2742 | 2742 |
|  **Balance as of June 30, 2024\*** | **12500000** | **1250** | **(1250)** | **191151** | **428967** | **3107** | **623225** | **623225** |

---

____________

\* The shares and per share information are presented on a retroactive basis to reflect the reorganization completed on September 20, 2024. (Note 1)

The accompanying notes are an integral part of these consolidated financial statements.

[**Table of Contents**](#TOC001)

#### IDEA TECH HOLDING LIMITED.

#### CONSOLIDATED STATEMENTS OF CASH FLOWS
(In U.S. dollars, except for the number of shares data)

---

| | | |
|:---|:---|:---|
|  | **For the year ended June 30,** | **For the year ended June 30,** |
|  | **2024** | **2023** |
|  **Cash flows from operating activities:** |  |  |
|  Net income | $**1037826** | $**1354467** |
|  ***Adjustments to reconcile net income to net cash provided by operating activities:*** |  |  |
|  Depreciation | 4623 | 4573 |
|  Allowance for doubtful accounts | 25037 | 2943 |
|  Non-cash lease expense | 3927 | 924 |
|  Deferred income taxes | (472) | (125854) |
|  ***Changes in operating assets and liabilities:*** |  |  |
|  Accounts receivables | 375855 | (1209374) |
|  Inventories | (56675) | 120748 |
|  Prepayments and other current assets | (56280) | (58279) |
|  Accounts payable | (181831) | 84095 |
|  Deferred revenue | 171918 | 346323 |
|  Right of use assets, non-current | 49244 | 44064 |
|  Operating lease liabilities, current and non-current | (57987) | (49777) |
|  Accrued expense and other current liabilities | (354749) | 474598 |
|  **Net cash provided by operating activities** | $**960436** | $**989451** |
|  **Cash flows from investing activities:** |  |  |
|  Purchase of property, equipment and software | (2579) |  |
|  **Net cash used in investing activities** | $**(2579)** | $**—** |
|  **Cash flows from financing activities:** |  |  |
|  Dividend distribution | (1104231) | (581324) |
|  **Net cash used in financing activities** | $**(1104231)** | $**(581324)** |
|  Effect of exchange rate changes on cash and cash equivalent | (4) | 443 |
|  **Net change in cash and cash equivalents** | $**(146378)** | $**408570** |
|  **Cash and cash equivalents at beginning of the year** | **602398** | **193828** |
|  **Cash and cash equivalents at end of the year** | **456020** | **602398** |
|  **Supplemental disclosure of cash flow information:** |  |  |
|  Income tax paid | 409821 | 161957 |
|  **Supplemental disclosures of non-cash activities:** |  |  |
|  Dividend payable | 640344 | 1104231 |

---

The accompanying notes are an integral part of these consolidated financial statements.

[**Table of Contents**](#TOC001)

#### IDEA TECH HOLDING LIMITED.<br>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<br> (All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)
**1. ORGANIZATION**

Idea Tech Holding Limited. ("Idea Tech Cayman") and its consolidated subsidiaries (collectively referred to as the "Company", or the "Group") are primarily engaged in selling programmable drones and accessories and providing related training courses in Hong Kong.

Idea Tech Cayman is a holding company incorporated in the Cayman Islands on July 15, 2024, under the Cayman Islands Act as an exempted company with limited liability. Idea Tech Cayman has no substantive operations other than conducting its business through its Hong Kong operating entity Ask Idea (Hong Kong) Limited ("Ask Idea").

#### Reorganization
For the purpose of the Company's initial listing of its ordinary shares (the "IPO"), the Company has performed a series of reorganization transactions (the "Reorganization") as described below:

Prior to the Reorganization as described below, our Company historically conducted our business through Ask Idea, a company incorporated under the laws of Hong Kong. EDU Blockchain Limited is ultimately controlled by a group of individual shareholders (the "Controlling Shareholders").

As part of the Reorganization, Idea Tech Cayman was incorporated under the laws of the Cayman Islands as a limited company on July 15, 2024 as a holding company, for purposes of effectuating this Offering. Idea Tech Cayman is a holding company and is currently not actively engaging in any business.

On September 12, 2024, Idea Tech Limited ("Idea Tech HK") was incorporated under the laws of Hong Kong. On the date of its incorporation, one (1) ordinary share was allotted and issued to Idea Tech Cayman, and Idea Tech HK became wholly owned by Idea Tech Cayman.

On September 20, 2024, EDU Blockchain Limited, the sole shareholder of Ask Idea, transferred 10,000 ordinary shares, representing 100% ownership of Ask Idea, to Idea Tech HK for a consideration of HKD1.00, and Ask Idea became wholly owned by Idea Tech HK.

After completing the Reorganization, Ask Idea became indirectly wholly owned by Idea Tech Cayman through the intermediate holding company Idea Tech HK. The following diagram illustrates the legal entity ownership structure of Idea Tech Cayman and its subsidiaries as of September 20, 2024.

![](tflowchart_002.jpg)

As a result of the fact that Idea Tech Cayman and its subsidiaries were effectively controlled by the same group of shareholders immediately before and after the reorganization completed in September 2024, as described above, the reorganization was accounted for as a recapitalization. As a result, the Company's consolidated financial statements have been prepared as if the current corporate structure has been in existence throughout the periods presented.

[**Table of Contents**](#TOC001)

#### IDEA TECH HOLDING LIMITED.<br>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<br> (All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)
**1. ORGANIZATION** (cont.)

As of the issuance date of this report, the details of subsidiaries are as follows. All subsidiaries are owned by Idea Tech Cayman through equity investment. We do not have a variable interest entity structure.

---

| | | | |
|:---|:---|:---|:---|
|  **Name** | **Background**  | **Ownership** | **Principal activities** |
|  Idea Tech Limited <br>("Idea Tech HK") | A Hong Kong company, incorporated on September 12, 2024  | Wholly-owned by the Company | Investment holding |
|  Ask Idea (Hong Kong) Limited ("Ask Idea") | A Hong Kong company, incorporated on August 14, 2018 | Wholly-owned by Idea Tech HK | Provision of innovative training programs and high-quality educational products |

---

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

(a) Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") for the periods presented. The consolidated financial statements have been prepared on an ongoing basis.

(b) Basis of Consolidation

The consolidated financial statements include the financial statements of the Company and its subsidiaries.

A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power, has the power to appoint or remove the majority of the members of the board of directors, to cast a majority of votes at the meeting of the board of directors or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.

All transactions and balances between the Company and its subsidiaries have been eliminated upon consolidation.

(c) Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date, and revenues and expenses in the consolidated financial statements and accompanying notes.

The estimates used for, but not limited to, determining sales return reserves, income taxes, the collectability of accounts and other receivables, inventory valuation, warranties, fair value of long-lived assets. We have assessed the impact and are not aware of any specific events or circumstances that required an update to our estimates and assumptions or materially affected the carrying value of our assets or liabilities as of the date of issuance of this report. These estimates may change as new events occur and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions.

(d) Foreign Currencies

[**Table of Contents**](#TOC001)

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

The following table outlines the exchange rates between HK$ and US$ that are used in preparing these consolidated financial statements:

---

| | | |
|:---|:---|:---|
|  | **For the year ended June 30,** | **For the year ended June 30,** |
|  | **2024** | **2023** |
|  **Average rate** | 7.8225 | 7.8357 |

---

---

| | | |
|:---|:---|:---|
|  | **As of June 30,** | **As of June 30,** |
|  | **2024** | **2023** |
|  **Year-end spot rate** | 7.8083 | 7.8363 |

---

Transactions denominated in other than the functional currencies are translated into the functional currency of the entity at the exchange rates quoted by authoritative banks prevailing on the transaction dates. Exchange gains and losses resulting from those foreign currency transactions denominated in a currency other than the functional currency are recorded in the Consolidated statements of comprehensive income (loss).

(e) Fair Value Measurements

Fair value reflects the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurement for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.

The Company applies a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value:

Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 — Include other inputs that are directly or indirectly observable in the marketplace.

Level 3 — Unobservable inputs which are supported by little or no market activity.

Accounting guidance also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach, (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

The Company's financial instruments include cash and cash equivalents, accounts receivable, prepayments and other current assets, accounts payable, accrued expense and other current liabilities. As of June 30, 2023 and 2024, the carrying values of these financial instruments approximated their fair values due to the short-term maturity of these instruments.

(f) Earnings Per Share

Basic earnings per share is calculated by dividing net income attributable to common shareholders by the weighted-average outstanding commons shares for the period. For the years ended June 30, 2023 and 2024, there was no potentially diluted shares. The shares and per share information are presented on a retroactive basis to reflect the reorganization completed on September 20, 2024.

[**Table of Contents**](#TOC001)

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

The following table shows the calculation of basic and diluted shares:

---

| | | |
|:---|:---|:---|
|  | **For the year ended June 30,** | **For the year ended June 30,** |
|  | **2024** | **2023** |
|  Net income attributable to common shareholders | $1037826 | $1354467 |
|  Weighted-average shares used in computing basic and diluted earnings per share | 12500000 | 12500000 |
|  **Basic and diluted earnings per share** | $**0.08** | $**0.11** |

---

(g) Cash and Cash Equivalents

Cash and cash equivalents comprise cash at banks and on hand, demand deposits and highly liquid investments which are unrestricted as to withdrawal or use, and which have original maturities of three months or less when purchased.

(h) Accounts receivables, net

Accounts receivable represent the amounts that the Company has an unconditional right to consideration. Accounts receivable are recorded at net realizable value, consisting of the carrying amount less an allowance for credit losses, as necessary.

We maintain an allowance for doubtful accounts to reserve for potentially uncollectible receivable amounts which is estimated using the approach based on expected losses. The allowance for doubtful accounts consist of the following:

---

| | | |
|:---|:---|:---|
|  | **For the year ended June 30,** | **For the year ended June 30,** |
|  | **2024** | **2023** |
|  Allowance for doubtful accounts – beginning of period | $11324 | $8350 |
|  Additions | 25124 | 2974 |
|  **Allowance for doubtful accounts – end of period** | $**36448** | $**11324** |

---

The estimation of allowance for doubtful accounts considers factors such as historical credit loss experience, age of receivable balances, current market conditions, reasonable and supportable forecasts of future economic conditions, as well as an assessment of receivables due from specific identifiable counterparties to determine whether these receivables are considered at risk or uncollectible.

(i) Inventories

Inventories consist of merchandise available for sale. They are accounted for using the weighted average cost method and stated at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. The inventory valuation allowance, representing a write-down of inventory was nil as of June 30, 2024 and 2023.

(j) Property and equipment, net

Property and equipment are stated at cost less accumulated depreciation and any impairment loss. Depreciation is computed using the straight-line method with no residual value based on the estimated useful lives of the various classes of assets, which range as follows:

---

| | |
|:---|:---|
|  **Category** | **Estimated useful lives**  |
|  Office equipment | 5 years |

---

[**Table of Contents**](#TOC001)

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

(k) Impairment of long-lived assets

We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, we measure impairment by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, we would recognize an impairment loss calculated as an amount by which the carrying value of the cost exceeds its fair value. No impairment charge was recognized for the years ended June 30, 2023 and 2024.

(l) Revenue recognition

Revenue is principally generated from sales of software and hardware products, training courses, and other services (including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products). Revenue represents the amount of consideration the Company is entitled to upon the transfer of promised goods or services in the ordinary course of the Company's activities. Consistent with the criteria of ASC 606 "Revenue from Contracts with Customers", the Company recognizes revenue when performance obligations are satisfied by transferring control of a promised good or service to a customer. For performance obligations that are satisfied at a point in time, the Company also considers the following indicators to assess whether control of a promised good or service is transferred to the customer: (i) right to payment, (ii) legal title, (iii) physical possession, (iv) significant risks and rewards of ownership and (v) acceptance of the good or service. For performance obligations satisfied over time, the Company recognizes revenue over time by measuring the progress toward complete satisfaction of a performance obligation.

For revenue arrangements with multiple distinct performance obligations, each distinct performance obligation is separately accounted for and the total consideration is allocated to each performance obligation based on the relative standalone selling price at contract inception.

The Company evaluates if it is a principal or an agent in a transaction to determine whether revenue should be recorded on a gross or net basis. The Company is acting as the principal if it obtains control over the goods and services before they are transferred to customers. Generally, when the Company is primarily obligated in a transaction, is subject to inventory risk, has latitude in establishing prices, or has several but not all of these indicators, the Company acts as the principal and revenue is recorded on a gross basis. Generally, when the Company is not primarily obligated in a transaction, does not bear the inventory risk and does not have the ability to establish the price, the Company acts as the agent and revenue is recorded on a net basis.

The following table disaggregates our revenue by major source:

---

| | | |
|:---|:---|:---|
|  | **For year ended June 30,** | **For year ended June 30,** |
|  | **2024** | **2023** |
|  Software and hardware products | 2664915 | 2925459 |
|  Training courses | 1660785 | 1856097 |
|  Other services | 252113 | 341955 |
|  **Total revenues** | $**4577813** | $**5123511** |

---

*Sales of software and hardware products and training courses*

We earn revenues of sales of software products and hardware products mainly from the delivery of programmable drones. accessories and e-learning courses, and the delivery of training courses to Hong Kong schools. The sales of products, e-learning courses and training courses and their respective prices are separately identifiable in the context of the contracts with customers, and the customers can benefit from each service on its own, therefore we determined they are separate performance obligations.

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**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

We recognize revenues on sales of software and hardware products upon delivery to the customers, which is when the control of the products transfers. Invoices are typically issued at the point control transfers and fees are received within several months. We also recognize a sales return reserve based on historical experience. The sales return reserve has been insignificant for the years ended June 30, 2023 and 2024.

We offer e-learning courses to Hong Kong schools. The e-learning courses are operated by our suppliers, and we are acting as an agent in these transactions. The commissions and any related fulfillment fees we earn from these arrangements are recognized when the services are rendered, which generally occurs upon activation of the e-learning users to the customers.

The revenues received for training courses are recognized proportionately as the courses are delivered and are reported net of tuition refunds. Tuition paid in advance is recorded as deferred revenue. Tuition refunds have been insignificant for the years ended June 30, 2023 and 2024.

*Other services*

Other services include hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products.

Revenues related to hosting technology-focused competitions and events, organizing technology-themed study tours, are recognized upon completion of the competitions, events and tours.

Revenues related to repair and maintenance are recognized over time as services are provided. Payments are received together with the goods sales and recorded in deferred revenue, which is recognized as revenue ratably over the respective customer contract term. The contract terms are generally a 12-month period.

Deferred revenue related to training courses and other services consist of the following:

---

| | | |
|:---|:---|:---|
|  | **For the year ended <br>June 30,** | **For the year ended <br>June 30,** |
|  | **2024** | **2023** |
|  Deferred revenue **–** beginning of period | $548094 | $201514 |
|  Additions | 313029 | 630652 |
|  Net changes in foreign exchange impact | 2278 | 256 |
|  Revenue recognized | (141112) | (284328) |
|  **Deferred revenue – end of period** | $**722289** | $**548094** |

---

Deferred revenue is equivalent to the total transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, as of the balance sheet date. Revenue recognized from the deferred revenue balance as of June 30, 2022 and 2023 was US$187,038 and US$108,176 for the years ended June 30, 2023 and 2024, respectively. Of the total deferred revenue balances as of June 30, 2024, we expect to recognize US$153,293 of revenue in the next 12 months. The remaining balance will be recognized at the time of services are rendered.

(m) Cost of Revenues

*Sale of software and hardware products*

Cost of software and hardware products sold includes direct products, shipping and logistic costs, and charges to write down the carrying value of inventory when it exceeds its estimated net realizable value and to provide for obsolete inventory.

*Training courses*

The cost of training courses includes fees paid to tutors and tutor management service fees.

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**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

*Other services*

The cost of revenues of other services, including hosting technology-focused competitions and events, organizing technology-themed study tours, and repair and maintenance services for software and hardware products, mainly consists of venue and support costs, trip expenses, and outsourced repair and maintenance costs.

(n) Selling and marketing expenses

Selling and marketing expenses primarily consist of (i) rents for product and service display stores, and (ii) cost of marketing goods.

(o) General and Administrative Expenses

General and administrative expenses primarily consist of (i) salaries and benefits for administrative personnel, (ii) professional service fees, (iii) office expenses, (iv) travel and transportation expenses, and (v) other expenses, including depreciation expenses, insurance expenses, bank charges, tax expenses, bad debt expenses, etc.

(p) Income taxes

Current income taxes are recorded in accordance with the regulations of the relevant tax jurisdiction. We account for income taxes under the asset and liability method in accordance with ASC 740, Income Tax.

Under this method, deferred tax assets and liabilities are recognized for the tax consequences attributable to differences between carrying amounts of existing assets and liabilities in the financial statements and their respective tax basis, and operating loss carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in the consolidated statements of comprehensive income in the period of change. Valuation allowances are established when necessary to reduce the amount of deferred tax assets if it is considered more likely than not that the amount of the deferred tax assets will not be realized.

We adopted ASC 740 "Income Tax", which provides guidance for recognizing and measuring uncertain tax positions, it prescribes a threshold condition that a tax position must meet for any of the benefits of the uncertain tax position to be recognized in the financial statements. It also provides accounting guidance on derecognizing, classification and disclosure of these uncertain tax positions. The Group's policy on classification of all interest and penalties related to unrecognized income tax positions, if any, is to present them as a component of income tax expenses.

(q) Lease

We determine if an arrangement is a lease at inception. Leases that transfer substantially all of the benefits and risks incidental to the ownership of assets are accounted for as finance leases as if there was an acquisition of an asset and incurrence of an obligation at the inception of the lease. All other leases are accounted for as operating leases. The Company has no finance leases.

We recognize lease liabilities and corresponding right-of-use assets on the balance sheet for leases. Operating lease right-of-use assets are included in right-of-use assets, and operating lease liabilities are included in accrued expense and other current liabilities and lease liabilities on the consolidated balance sheets. Operating lease right-of-use assets and operating lease liabilities are initially recognized based on the present value of future lease payments at lease commencement. The operating lease right-of-use asset also includes any lease payments made prior to lease commencement and the initial direct costs incurred by the lessee and is recorded net of any lease incentives received. As the interest rates implicit in most of the leases are not readily determinable, the Company uses the incremental borrowing rates based on the information available at lease commencement to determine the present value of the future lease payments. Operating lease expenses are recognized on a straight-line basis over the term of the lease.

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**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

We have lease agreements with lease and non-lease components, and have elected to utilize the practice expedient to account for lease and non-lease components together as a single combined lease component.

We have elected not to present short-term leases on the consolidated balance sheet as these leases have a lease term of 12 months or less at lease inception and do not contain purchase options or renewal terms that we are reasonably certain to exercise.

(r) Government Incentives

We received government incentives for our business. Government incentives are recorded in our consolidated financial statements in other income, net. The benefit is generally recorded when all conditions attached to the incentive have been met.

(s) Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker (the "CODM"), which is comprised of members of the Company's management team, who reviews consolidated results when making decisions about allocating resources and assessing performance as a whole and hence, we have only one reportable segment. Our revenues are derived from Hong Kong subsidiaries and our services and products are mainly offered to customers based in Hong Kong and a small portion is provided to customers overseas through our partners. The following table sets forth a breakdown of our revenues by geographic area:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the year ended June 30,** | **For the year ended June 30,** | **For the year ended June 30,** | **For the year ended June 30,** |
|  | **2024** | **2024** | **2023** | **2023** |
|  | **US$** | **%** | **US$** | **%** |
|  Hong Kong | 4535741 | 99.08% | 5123511 | 100.00% |
|  Other countries | 42072 | 0.92% |  | 0.00% |
|  **Total** | **4577813** | **100.00**% | **5123511** | **100.00**% |

---

Our long-lived assets are all located in Hong Kong.

(t) Concentration of risk

*Credit Risk*

Financial instruments that potentially subject us to the concentration of credit risks consist of cash and cash equivalents, accounts receivable and other receivables. The maximum exposures of such assets to credit risk are their carrying amounts as of the balance sheet dates. As of June 30, 2023 and 2024, all of our cash and cash equivalents were held in major financial institutions located in Hong Kong, which we consider to be of high credit quality based on their credit ratings.

We have not experienced any significant recoverability issue with respect to its accounts receivable. As of June 30, 2023 and 2024, there was no customer with greater than 10% of the accounts receivable, respectively.

*Supply Risk*

We are dependent on our suppliers, including single source suppliers, and the inability of these suppliers to deliver necessary components of our products in a timely manner at prices, quality levels and volumes acceptable to us, or our inability to efficiently manage these components from these suppliers, could have a material adverse effect on our business, prospects, financial condition and operating results.

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**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (cont.)

Suppliers from whom individually represent greater than 10% of our total purchases for the years ended June 30, 2023 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the year ended June 30,** | **For the year ended June 30,** | **For the year ended June 30,** | **For the year ended June 30,** |
|  | **2024** | **2024** | **2023** | **2023** |
|  | **US$** | **%** | **US$** | **%** |
|  Supplier A | 1053441 | 43.98% | 1014559 | 38.15% |
|  Supplier B | 304374 | 12.71% |  |  |
|  Supplier C | 188728 | 7.88% | 510044 | 19.18% |
|  Supplier D |  |  | 476582 | 17.92% |

---

(u) Commitments and contingencies

In the normal course of business, we are subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters, such as government investigations and tax matters. Liability for contingency is recorded when it is probable that a loss has occurred and a reasonable estimate of the loss can be made. If the potential material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingency liability, together with an estimate of the range of possible loss, if determined and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed.

(v) Recent Accounting Pronouncements

We qualify as an "emerging growth company", or EGC, pursuant to the Jumpstart Our Business Startups Act of 2012, as amended, or the JOBS Act. As an EGC, the Company does not need to comply with any new or revised financial accounting standards until such date that a private company is otherwise required to comply with such new or revised accounting standards. We will adopt the standards based on the extended transition period provided to private companies.

In November 2023, the FASB issued ASU No. 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker ("CODM") and included within each reported measure of a segment's profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment's profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is also permitted. We are currently evaluating the impact of the new guidance on its consolidated financial statement.

In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as additional information on income taxes paid. For public business entities, this standard is effective for annual periods beginning after December 15, 2024. For non-public business entities, this standard is effective for annual periods beginning after December 15, 2025. Early adoption is permitted, and the disclosures in this standard are required to be applied on a prospective basis with the option to apply the standard retrospectively. We are currently evaluating the potential impact of the new guidance on its consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses (Topic 220-40). The ASU requires more detailed disclosure for expenses. The ASU is effective for annual reporting periods beginning after December 15, 2026, with early adoption permitted. The amendments can be applied on either a prospective or retroactive basis. We are currently evaluating the ASU to determine its impact on our disclosures.

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**3. PREPAYMENTS AND OTHER CURRENT ASSETS, NET**

Prepayments and other current assets consist of the following:

---

| | | |
|:---|:---|:---|
|  | **As of June 30,** | **As of June 30,** |
|  | **2024** | **2023** |
|  Prepayment for product procurement<sup>(i)</sup> | 107647 | 57077 |
|  Rental Deposits | 21578 | 18287 |
|  **Total** | $**129225** | $**75364** |

---

____________

(i) Prepayment for product procurement mainly represents cash prepaid to our third-party supplier for the procurement of products.

**4. PROPERTY AND EQUIPMENT, NET**

As of June 30, 2023 and 2024, property and equipment, net consist of the following:

---

| | | |
|:---|:---|:---|
|  | **As of June 30,** | **As of June 30,** |
|  | **2024** | **2023** |
|  Office equipment | 25527 | 22861 |
|  **Gross amount** | $**25527** | $**22861** |
|  Less: Accumulated depreciation | (14629) | (9962) |
|  **Total property and equipment, net** | $**10898** | $**12899** |

---

Depreciation expenses were US$4,573 and US$4,623 for the years ended June 30, 2023 and 2024, respectively. No impairment charges were recorded for the years ended June 30, 2023 and 2024, respectively.

**5. DIVIDENDS**

An annual dividend for the 12-month ended December 31, 2021 of HK$3,955,100 (US$504,752) was declared on August 31, 2022. The annual dividend of HK$400,000 (US$51,039) and HK$3,555,100 (US$453,713) were paid during the years ended June 30, 2022 and 2023, respectively.

An annual dividend for the 12-month ended December 31, 2022 of HK$9,653,088 (US$1,231,842) was declared on May 15, 2023. The annual dividend of HK$1,000,000 (US$127,611) and HK$8,653,088 (US$1,104,231) were paid during the years ended June 30, 2023 and 2024, respectively.

An annual dividend for the 12-month ended December 31, 2023 of HK$5,000,000 (US$640,344) was declared on June 3, 2024. No dividend was paid as of June 30, 2024. HK$5,000,000 (US$640,344) was paid through the date of this report.

Dividend payable consist of the following:

---

| | | |
|:---|:---|:---|
|  | **For the year ended June 30,** | **For the year ended June 30,** |
|  | **2024** | **2023** |
|  Dividend payable – beginning of period | $1104231 | $453041 |
|  Cash dividend declared | 640344 | 1231842 |
|  Net changes in foreign exchange impact |  | 672 |
|  Cash dividend paid | (1104231) | (581324) |
|  **Dividend payable – end of period** | $**640344** | $**1104231** |

---

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**IDEA TECH HOLDING LIMITED.<br>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<br>(All amounts in U.S. dollars, except for the number of shares data, unless otherwise stated)**

**6. ACCRUED EXPENSE AND OTHER LIABILITIES**

Accrued expenses and other current liabilities consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **As of June 30,** | **As of June 30,** |
|  | **2024** | **2023** |
|  Accrued bonus and staff costs | 40065 | 85662 |
|  Accrued tutor fees | 44024 | 31269 |
|  Accrued operating expense | 70519 | 42887 |
|  **Total** | $**154608** | $**159818** |

---

**7. INCOME TAXES**

Cayman Islands

The Company was incorporated in the Cayman Islands and is not subject to tax on income or capital gains under the laws of the Cayman Islands. The Company mainly conducts its operating business through its subsidiary in Hong Kong. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders.

Hong Kong

The Company's Hong Kong subsidiary, Ask Idea (Hong Kong) Limited, is subject to Hong Kong Profits Tax on their taxable income as reported in their statutory financial statements adjusted in accordance with relevant Hong Kong tax laws. Hong Kong Profits Tax has been calculated at 8.25% for assessable profits on the first HK$2 million and 16.5% for any assessable profits in excess of HK$2 million for the years ended June 30, 2023 and 2024.

The provision for income taxes for years ended June 30, 2023 and 2024 are as follows:

---

| | | |
|:---|:---|:---|
|  | **For the year ended June 30,** | **For the year ended June 30,** |
|  | **2024** | **2023** |
|  **Provisions for current income tax** |  |  |
|  Hong Kong | 180286 | 368121 |
|  **Provisions for deferred income tax** |  |  |
|  Hong Kong | (473) | (125854) |
|  **Total** | $**179813** | $**242267** |

---

The reconciliation of taxes at the Hong Kong profit tax rate to our provision for income taxes for the years ended June 30, 2023 and 2024 was as follows:

---

| | | |
|:---|:---|:---|
|  | **For the year ended June 30,** | **For the year ended June 30,** |
|  | **2024** | **2023** |
|  **Income before income taxes** | **1217639** | **1596734** |
|  Hong Kong profit tax rate | 16.5% | 16.5% |
|  **Tax at Hong Kong profit tax rate** | **200910** | **263461** |
|  First HK$2 million profit at 8.25% rate | (21097) | (21194) |
|  **Provision for income taxes** | $**179813** | $**242267** |

---

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**7. INCOME TAXES** (cont.)

Deferred tax assets (liabilities) as of June 30, 2023 and 2024 consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **As of June 30,** | **As of June 30,** |
|  | **2024** | **2023** |
|  **Deferred tax assets:** |  |  |
|  Deferred revenue and allowance for bad debt provision | 179954 | 148914 |
|  Accrued expense | 70314 | 98749 |
|  **Deferred tax liabilities:** |  |  |
|  Inventory | (39287) | (37908) |
|  **Total deferred tax assets, net** | $**210981** | $**209755** |

---

Under relevant Hong Kong tax laws, a tax case is normally subject to investigation by the tax authority for up to 6 years of assessment prior to the current year of assessment, unless in a case of fraud or willful evasion, then the investigation can be extended to cover 10 years of assessment. As of June 30, 2023 and 2024, we had no open tax investigation from the tax authority.

**8. LEASE**

We have operating leases for an office and two stores that we utilize under lease arrangement. Lease term for office is 3-year. Lease terms for two stores are both one year which are classified as short-term lease. We do not have finance lease.

The balances and other information for the operating leases where we are the lessee are presented as follows within our consolidated balance sheets:

---

| | | |
|:---|:---|:---|
|  | **As of June 30,** | **As of June 30,** |
|  | **2024** | **2023** |
|  **Operating lease right-of-use assets** | **8758** | **57884** |
|  Lease liabilities – current | **—** | 42352 |
|  Lease liabilities – non-current | **—** | 9528 |
|  **Total operating lease liabilities** | $**—** | $**51880** |

---

---

| | | |
|:---|:---|:---|
|  | **As of June 30,** | **As of June 30,** |
|  | **2024** | **2023** |
|  Weighted discount rate for the operating lease | 10% | 10% |
|  Weighted average remaining lease term | 2 months | 14 months |

---

Because the leases do not provide an implicit rate of return, the Company used the incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments.

The components of lease expense are as follows within our consolidated statements of operations:

---

| | | |
|:---|:---|:---|
|  | **As of June 30,** | **As of June 30,** |
|  | **2024** | **2023** |
|  Operating lease expense<sup>(i)</sup> | 53172 | 44970 |
|  Cash paid for operating lease | 79127 | 62716 |
|  Right-of-use assets obtained in exchange for operating lease liabilities |  |  |

---

____________

(i) Operating lease expense includes short-term leases and variable lease costs. We received a COVID-19 rent concession of US$8,112 and recognized as a reduction of operating lease expense for the year ended June 30, 2023.

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**8. LEASE** (cont.)

We renew the office lease in August 2024 for a 3-year period. The following is a schedule of future minimum payments of the lease:

---

| | |
|:---|:---|
|  **For the year ended June 30,** | **Amount** |
| 2025 | 85448 |
| 2026 | 63376  |
| 2027 | 63376 |
| 2028 | 10563 |
|  **Total lease payments** | $**222763** |

---

**9. COMMITMENTS AND CONTINGENCIES**

*Commitments*

As of June 30, 2023 and 2024, other than lease commitment disclosed elsewhere in these consolidated financial statements, we had neither significant financial nor capital commitment.

*Contingencies*

As of June 30, 2023 and 2024, the Company was not a party to any material legal or administrative proceedings.

**10. RELATED PARTY TRANSACTIONS**

---

| | |
|:---|:---|
|  **Name of related parties** | **Relationship with the Company** |
|  Jumbo Will Ltd | A shareholder of the Company |
|  Next Education Limited | Jumbo Will Ltd hold 10% shares of Next Education Limited |
|  EDU Blockchain Limited | Under common control company |

---

The following table summarizes goods and services received from related parties, included in cost of revenues — training courses in the consolidated statements of income:

---

| | | | |
|:---|:---|:---|:---|
|  |  | **For the year ended June 30,** | **For the year ended June 30,** |
|  **Name of related parties** | **Nature** | **2024** | **2023** |
|  Next Education Limited | Tutor management services | 188,728 | 510,044 |

---

The following table summarizes goods and services provided to related parties, included in the revenues in the consolidated statements of income:

---

| | | | |
|:---|:---|:---|:---|
|  |  | **For the year ended June 30,** | **For the year ended June 30,** |
|  **Name of related parties** | **Nature** | **2024** | **2023** |
|  EDU Blockchain Limited | Hosting event services | 63810 |  |
|  Jumbo Will Ltd | Hardware and software products and training services | 2561 | 18723 |
|  Next Education Limited | Hardware and software products and training services | 20886 | 15409 |

---

The following table summarizes related party balances:

---

| | | | |
|:---|:---|:---|:---|
|  |  | **As of June 30,** | **As of June 30,** |
|  **Name of related parties** | **Included in consolidated balance sheets** | **2024** | **2023** |
|  Jumbo Will Ltd | Accounts receivable, net |  | 6636 |
|  Next Education Limited | Accounts receivable, net | 12754 | 18480 |
|  Next Education Limited | Amounts due to a related party | (315676) | (438661) |

---

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**11. EQUITY**

The shareholders' equity structure as of June 30, 2024 are presented after giving retroactive effect to the reorganization of the Company that was completed on September 20, 2024. Immediately before and after reorganization, the Company, together with its wholly-owned subsidiaries, were effectively controlled by the same shareholders; therefore, for accounting purposes, the reorganization was accounted for as a recapitalization.

*Authorized Shares*

As of the date of this report, the Company has 500,000,000 authorized ordinary shares, par value US$0.0001 per share.

*Ordinary Shares*

As of the date of this report, the Company has 12,500,000 ordinary shares were issued to the participating shareholders, fully paid and outstanding, in connection with the reorganization of the Company.

**12. SUBSEQUENT EVENTS**

We have evaluated events from the year ended June 30, 2024 through the date of this report. On February 10, 2025, the Board of the Company agrees to participate in the establishment of HK IDEA Innovation Group Limited with maximums of holding 10% shares and investment amount of HK$100,000. HK IDEA Innovation Group Limited will be incorporated in Hong Kong engaging its business of human resource service.

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 **Until and including , 2025 (25 days after the date of this prospectus), all dealers that buy, sell or trade our Ordinary Shares, whether or not participating in this offering, may be required to deliver a prospectus. This delivery requirement is in addition to the obligation of dealers to deliver a prospectus when acting as underwriters and with respect to their unsold allotments or subscriptions.**

#### Idea Tech Holding Limited

#### 2,000,000 Ordinary Shares

#### ____________________________

#### Preliminary Prospectus dated , 2025

#### ____________________________

------

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#### PART II

#### INFORMATION NOT REQUIRED IN PROSPECTUS

#### ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
Cayman Islands law does not limit the extent to which a company's articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. Our Amended and Restated provide that we shall indemnify each existing or former secretary, director (including alternate director), and any of our other officers (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 (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) above, 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 law, 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 any of our officers 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 secretary or that 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 pursuant to 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.
During the past three years, we have issued and sold the following securities without registering such securities under the Securities Act. We believe that each of the following issuances was exempt from registration under the Securities Act pursuant to Section 4(a)(2) of the Securities Act regarding transactions not involving a public offering or in reliance on Regulation S under the Securities Act regarding sales by an issuer in offshore transactions. No underwriter was involved in these issuances of securities.

Idea Tech Cayman was incorporated under the laws of the Cayman Islands as a limited company on July 15, 2024 as a holding company, for purposes of effectuating this Offering. Idea Tech Cayman is a holding company and is currently not actively engaging in any business. On the date of its incorporation, Idea Tech Cayman issued and allotted one (1) Ordinary Share to Ogier Global Subscriber (Cayman) Limited.

On August 30, 2024, Ogier Global Subscriber (Cayman) Limited transferred one (1) Ordinary Share to DS Premium Healthcare Limited. On the same date, Idea Tech Cayman issued and allotted a certain number of Ordinary Shares to Ultimate Honour Group Limited, 3all FinTech Holding Limited, Art Plus Technology Limited, DS Premium Healthcare Limited, Yu Fang, Jingxin Feng, Jumbo Will Limited, Hanqi Li, Bohong Liu, Minhua Liu, Saijun Ni, respectively:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1,450,000 Ordinary Shares to Ultimate Honour Group Limited for a consideration of US$145.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 465,000 Ordinary Shares to 3all FinTech Holding Limited for a consideration of US$46.50.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 580,000 Ordinary Shares to Art Plus Technology Limited for a consideration of US$58.00.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 3,882,999 Ordinary Shares to DS Premium Healthcare Limited for a consideration of US$388.2999.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 375,000 Ordinary Shares to Yu Fang for a consideration of US$37.50.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 615,000 Ordinary Shares to Jingxin Feng for a consideration of US$61.50.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 3,250,000 Ordinary Shares to Jumbo Will Limited for a consideration of US$325.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 253,000 Ordinary Shares to Hanqi Li for a consideration of US$25.30.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 622,000 Ordinary Shares to Bohong Liu for a consideration of US$62.20.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 405,000 Ordinary Shares to Minhua Liu for a consideration of US$40.50.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 602,000 Ordinary Shares to Saijun Ni for a consideration of US$60.20.

On November 5, 2024, DS Premium Healthcare Limited transferred 562,500 Ordinary Shares to Ms. Allie CHAN for a consideration of approximate US$578,406.17.

#### ITEM 8. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The following documents are filed as part of this registration statement:

See the Exhibit Index attached to this registration statement, which is incorporated by reference herein.

&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 has been included in the consolidated financial statements or notes thereto.

#### ITEM 9. UNDERTAKINGS.
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 provisions described in Item 6, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission 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 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.

The undersigned registrant hereby undertakes that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) 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 under 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;(2) 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) For the purpose of determining liability under the Securities Act to any purchaser, each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into

[**Table of Contents**](#TOC001)

the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) For the purpose of determining any liability of the registrant under the Securities Act to any purchaser in the initial distribution 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

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#### EXHIBIT INDEX

---

| | |
|:---|:---|
|  **Exhibit No.** | **Description** |
|  1.1\* | [Form of Underwriting Agreement](ea023470205ex1-1_ideatech.htm) |
|  3.1\*\* | Memorandum and Articles of Association |
|  5.1\* | [Opinion of Ogier regarding the validity of the securities being registered](ea023470205ex5-1_ideatech.htm) |
|  8.1\* | [Opinion of Bird & Bird regarding certain Hong Kong legal matters](ea023470205ex8-1_ideatech.htm) |
|  10.1\* | [Employment Agreement by and between Chun Ki Wan and the Registrant](ea023470205ex10-1_ideatech.htm) |
|  10.2\* | [Employment Agreement by and between Weiqing He and the Registrant](ea023470205ex10-2_ideatech.htm) |
|  10.3\* | [Employment Agreement by and between Ho Kit Hui and the Registrant](ea023470205ex10-3_ideatech.htm) |
|  10.4\* | [Form of Independent Director Agreement between independent director nominees and the Registrant](ea023470205ex10-4_ideatech.htm) |
|  10.5\* | [English Translation of Form of Hardware Procurement Agreement between ASK Idea (Hong Kong) Limited and customer](ea023470205ex10-5_ideatech.htm) |
|  10.6\* | [English Translation of Form of Drone Programming Course Service Agreement between ASK Idea (Hong Kong) Limited and customer](ea023470205ex10-6_ideatech.htm) |
|  10.7\* | [Form of Dealership Agreement by and between iFlight Technology Company Limited and ASK Idea (Hong Kong) Limited](ea023470205ex10-7_ideatech.htm) |
|  10.8\* | [Cooperation Agreement by and between Next Education Limited and ASK Idea (Hong Kong) Limited, dated January 3, 2024](ea023470205ex10-8_ideatech.htm) |
|  10.9\* | [English Translation of Form of Procurement Agreement by and between Shenzhen High Great Innovation Technology Development Co., Ltd. and ASK Idea (Hong Kong) Limited](ea023470205ex10-9_ideatech.htm) |
|  10.10\* | [Sales and Purchase Contract by and between Feiyang Meta Technology Limited and ASK Idea (Hong Kong) Limited, dated August 28, 2022 (Form of Purchase Order Included)](ea023470205ex10-10_ideatech.htm) |
|  10.11\* | [Lease Agreement by and Between Hong Kong Cyberport Management Company Limited and ASK Idea (Hong Kong) Limited, dated April 28, 2025, relating to the premise located at Shop 106, Level 1, The Arcade, 100 Cyberport Road, Hong Kong](ea023470205ex10-11_ideatech.htm) |
|  10.12\* | [Lease Agreement by and Between Hong Kong Cyberport Management Company Limited and ASK Idea (Hong Kong) Limited, dated April 28, 2025, relating to the premise located at Shop 107, Level 1, The Arcade, 100 Cyberport Road, Hong Kong](ea023470205ex10-12_ideatech.htm) |
|  14.1\* | [Code of Business Conduct and Ethics of the Registrant](ea023470205ex14-1_ideatech.htm) |
|  14.2\* | [Insider Trading Policies](ea023470205ex14-2_ideatech.htm) |
|  14.3\* | [Executive Compensation Recovery Policy of the Registrant](ea023470205ex14-3_ideatech.htm) |
|  21.1\* | [List of Subsidiaries](ea023470205ex21-1_ideatech.htm) |
|  23.1\* | [Consent of TAAD LLP](ea023470205ex23-1_ideatech.htm) |
|  23.2\* | [Consent of Ogier (included in Exhibit 5.1)](ea023470205ex5-1_ideatech.htm) |
|  23.3\* | [Consent of Bird & Bird, Hong Kong counsel to the Registrant (included in Exhibit 8.1)](ea023470205ex8-1_ideatech.htm) |
|  23.4\* | [Consent of Frost & Sullivan](ea023470205ex23-4_ideatech.htm) |
|  99.1\* | [Audit Committee Charter](ea023470205ex99-1_ideatech.htm) |
|  99.2\* | [Compensation Committee Charter](ea023470205ex99-2_ideatech.htm) |
|  99.3\* | [Nominating Committee Charter](ea023470205ex99-3_ideatech.htm) |
|  99.4\* | [Consent of Jinyu Yang, Independent Director Nominee](ea023470205ex99-4_ideatech.htm) |
|  99.5\* | [Consent of Yiyun Wang, Independent Director Nominee](ea023470205ex99-5_ideatech.htm) |
|  99.6\* | [Consent of Chuanping Pan, Independent Director Nominee](ea023470205ex99-6_ideatech.htm) |
|  99.7\* | [Consent of Chung Shun Lee, Independent Director Nominee](ea023470205ex99-7_ideatech.htm) |
|  99.8\* | [Request for Waiver and Representation under Item 8.A.4 of Form 20-F](ea023470205ex99-8_ideatech.htm) |
|  107\* | [Filing Fee Table](ea023470205ex-fee_ideatech.htm) |

---

____________

\* Filed herein.

\*\* To be filed by amendment.

† Previously filed.

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#### SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, 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 8, 2025.

---

| | |
|:---|:---|
|  **Idea Tech Holdings Limited** | **Idea Tech Holdings Limited** |
|  By: | */s/ Chun Ki Wan* |
|  | Chun Ki Wan <br>Chief Executive Officer (Principal Executive Officer) |

---

---

| | | |
|:---|:---|:---|
|  **Signature** | **Title** | **Date** |
|  */s/ Chun Ki Wan* | Chief Executive Officer, Director | August 8, 2025 |
|  Name: Chun Ki Wan | (Principal Executive Officer) |  |
|  */s/ Weiqing He* | Chief Financial Officer, Director | August 8, 2025 |
|  Name: Weiqing He | (Principal Financial and Accounting Officer Officer) |  |
|  */s/ Ho Kit Hui* | Chief Operation Officer | August 8, 2025 |
|  Name: Ho Kit Hui |  |  |

---

[**Table of Contents**](#TOC001)

#### SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES
Pursuant to the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of America, has signed this registration statement thereto in New York, NY, on August 8, 2025.

---

| | |
|:---|:---|
|  AUTHORIZED U.S. REPRESENTATIVE | AUTHORIZED U.S. REPRESENTATIVE |
|  By: | */s/ Colleen A. De Vries* |
|  Name: | Colleen A. De Vries |
|  Title: | Senior Vice President on behalf of<br> Cogency Global Inc. |

---

## Exhibit 1.1

**Exhibit 1.1**

**Idea Tech Holding Limited**

**FORM OF UNDERWRITING AGREEMENT**

[●], 2025

**R.F. Lafferty & Co., Inc.**

40 Wall Street, 27th Floor<br> New York, NY 10005

*As the Representative of several Underwriters named on <u>Schedule A</u> hereto*

Ladies and Gentlemen:

The undersigned, Idea Tech Holding Limited, a Cayman Islands exempted company ("**Company**"), hereby confirms its agreement (this "**Agreement**" or the "**Underwriting Agreement**") with R.F. Lafferty & Co., Inc. (the "**Representative**" of several underwriters as disclosed in <u>Schedule A</u> attached hereto and the term Representative as used herein shall have the same meaning as underwriter, collectively the "**Underwriters**" and each an "**Underwriter**") to issue and sell to the Underwriters an aggregate of [●] ordinary shares, par value $0.0001 per share, of the Company (the "**Firm Shares**"). The Company also agrees to issue and sell to the Underwriters not more than an additional [●] shares of its ordinary shares, par value $0.0001 per share (the "**Option Shares**"), if and to the extent that the Representatives shall have determined to exercise, on behalf of the Underwriters, the right to purchase such shares of Option Shares granted to the Underwriters under <u>Section 1</u> hereof. The Firm Shares and the Option Shares are hereinafter collectively referred to as the "**Securities.**" The offering and sale of Securities contemplated by this Agreement is referred to herein as the "**Offering**."

**1. <u>Purchase and Sale of Shares</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Purchase of Firm Shares</u>. On the basis of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company agrees to issue and sell to the Underwriters an aggregate of [●] Firm Shares at a purchase price (net of underwriting discounts) of $[●] per share (the "**Purchase Price**"). The Underwriters agree to purchase from the Company the Firm Shares set forth opposite its name on <u>Schedule A</u> attached hereto and made a part hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Delivery of and Payment for Firm Shares</u>. Delivery of and payment for the Firm Shares shall be made at [●] A.M., Eastern Time, on the [●] Business Day following the effective date ("**Effective Date**") of the Registration Statement (as defined below) or at such time as shall be agreed upon by the Underwriters and the Company, at the offices of VCL Law LLP (the "**Underwriters' Counsel**") or at such other place as shall be agreed upon by the Underwriters and the Company. The hour and date of delivery of and payment for the Firm Shares is referred to as the "**Closing Date**." The closing of the payment of the purchase price for, and delivery of certificates representing, the Firm Shares is referred to herein as the "**Closing**." Payment for the Firm Shares shall be made on the Closing Date by wire transfer in Federal (same day) funds upon delivery to the Underwriters of certificates (in form and substance reasonably satisfactory to the Underwriters) representing the Firm Shares (or if uncertificated through the full fast transfer facilities of the Depository Trust Company (the "**DTC**")) for the account of the Underwriters. The Firm Shares shall be registered in such names and in such denominations as the Underwriters may request in writing at least two (2) Business Days prior to the Closing Date. If certificated, the Company will permit the Underwriters to examine and package the Firm Shares for delivery at least one (1) full Business Day prior to the Closing Date. The Company shall not be obligated to sell or deliver the Firm Shares except upon tender of payment by the Underwriters for all the Firm Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Option Shares.</u> The Company hereby agrees to issue and sell to the Underwriters the Option Shares, and the Underwriters shall have the option to purchase, severally and not jointly, in whole or in part, the Option Shares from the Company (the "**Over-Allotment Option**"), in each case, at a price per share equal to the Purchase Price less an amount per share equal to any dividends or distributions declared by the Company and payable on the Firm Shares but not payable on the Option Shares (the "**Over-Allotment Option Purchase Price**"). The Company and the Underwriters agree that the Underwriters may only exercise the Over-Allotment Option for the purpose of covering over-allotments made in connection with the offering of the Firm Shares. The Representative may exercise the Over-Allotment Option on behalf of the Underwriters at any time in whole, or from time to time in part, on or before the forty-fifth (45th) day after the Closing Date, by giving written notice to the Company (the "**Over-Allotment Exercise Notice**"). Each exercise date must be at least one (1) business day after the written notice is given and may not be earlier than the Closing Date nor later than ten (10) business days after the date of such notice. On each day, if any, that the Option Shares are to be purchased, each Underwriter agrees, severally and not jointly, to purchase the number of the Option Shares (subject to such adjustments to eliminate fractional shares as the Representative may determine) that bears the same proportion to the total number of the Option Shares to be purchased on such Additional Closing Date (as defined below) as the number of Firm Shares set forth in <u>Schedule A</u> hereto opposite the name of such Underwriter bears to the total number of the Firm Shares. The Representative may cancel any exercise of the Over-Allotment Option at any time prior to the Closing Date or the applicable Additional Closing Date (as defined below), as the case may be, by giving written notice of such cancellation to the Company. The Over-Allotment Exercise Notice shall set forth: (i) the aggregate number of Option Shares as to which the Over-Allotment Option is being exercised; (ii) the Over-Allotment Option Purchase Price; (iii) the names and denominations in which the Option Shares are to be registered; and (iv) the applicable Additional Closing Date. Payment for the Option Shares (the "**Option Shares Payment**") shall be made, against delivery of the Option Shares to be purchased, by wire transfer in immediately available funds to the account(s) specified by the Company to the Representative at least one (1) business day in advance of such payment at the office of VCL Law LLP at [●], Eastern Time, on [●], or at such other place on the same or such other date and time, as shall be designated in writing by the Representative (an "**Additional Closing Date**"). Delivery of the Option Shares shall be made through the facilities of the DTC, unless the Representative shall otherwise instruct.

**2. <u>Representations and Warranties of the Company</u>**. The Company represents and warrants to the Underwriters as of the Applicable Time (as defined below) and as of the Closing Date, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Filing of Registration Statement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Pursuant to the Act</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) The Company has filed with the Securities and Exchange Commission (the "**Commission**") a registration statement and an amendment or amendments thereto, on Form F-1 (File No. 333-[●]), including any related prospectus or prospectuses, for the registration of the Securities under the Securities Act of 1933, as amended (the "**Act**"), which registration statement and amendment or amendments have been prepared by the Company and conform, in all material respects, with the requirements of the Act and the rules and regulations of the Commission under the Act (the "**Regulations**"). Except as the context may otherwise require, such registration statement on file with the Commission at the time the registration statement becomes effective (including the prospectus, financial statements, schedules, exhibits and all other documents filed as a part thereof or incorporated therein and all information deemed to be a part thereof as of the Effective Date pursuant to paragraph (b) of Rule 430A of the Regulations), is referred to herein as the "**Registration Statement**."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) The final prospectus in the form first furnished to the Underwriters for use in the Offering, is hereinafter called the "**Prospectus**."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) The Registration Statement has been declared effective by the Commission on or prior to the date hereof. "**Applicable Time**" means [●] p.m. Eastern Time, on [Date], or such other time as agreed to by the Company and the Underwriters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Registration under the Exchange Act</u>. The Securities are registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 (the "**Exchange Act**"), and the Company has taken no action designed to, or likely to have the effect of, terminating the registration of the Securities under the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating such registration except as described in the Registration Statement and Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Listing on Nasdaq</u>. The Securities will be approved for listing on the Nasdaq Capital Market ("**Nasdaq**") by the Closing Date, subject to official notice of issuance, and the Company has taken no action designed to, or likely to have the effect of, terminating the listing of the Securities on Nasdaq nor has the Company received any notification that Nasdaq is contemplating revoking or withdrawing approval for listing of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Disclosures in Registration Statement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>10b-5 Representation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) The Registration Statement and the Prospectus and any post-effective amendments thereto will in all material respects comply with the requirements of the Act and the Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) The Registration Statement, when it became effective, and any amendment or supplement thereto, did not contain and, at the Closing Date, will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, and the Prospectus when filed with the Commission does not contain and, at the Closing Date, will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. The representation and warranty made in this <u>Section 2(b)(i)(B)</u> does not apply to statements made or statements omitted in reliance upon and in conformity with written information with respect to the Underwriters furnished to the Company by the Underwriters expressly for use in the Registration Statement or Prospectus or any amendment thereof or supplement thereto. The parties acknowledge and agree that such information provided by or on behalf of any of the Underwriters consists solely of the disclosure contained in the "*Underwriting*" section of the Registration Statement and Prospectus (collectively, the "**Underwriters' Information**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) The road show presentation and materials, when taken together as a whole with the Disclosure Materials (as defined below in Section 2(w)), do not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The preceding sentence does not apply to statements in or omissions from the Disclosure Materials based upon and in conformity with the Underwriters' Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Prior Securities Transactions</u>. No securities of the Company have been sold by the Company or by or on behalf of, or for the benefit of, any person or persons controlling, controlled by, or under common control with the Company, except as disclosed in the Disclosure Materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Changes After Dates in Registration Statement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>No Material Adverse Change</u>. Since the end of the period covered by the latest audited financial statements included in the Registration Statement and the Prospectus, and except as otherwise specifically stated therein: (A) to the knowledge of the Company, there has been no events that have occurred that would have a have a material adverse effect on the assets, business, conditions, financial position, results of operations or business prospects of the Company (a "**Material Adverse Effect**"); and (B) there have been no material transactions entered into by the Company not in the ordinary course of business, other than as contemplated pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Recent Securities Transactions, etc</u>. Since the end of the period covered by the latest audited financial statements or interim financial statements included in the Registration Statement and the Prospectus, and except as may otherwise be indicated or contemplated herein or disclosed in the Registration Statement and the Prospectus, the Company has not, other than with respect to options to purchase the ordinary shares at an exercise price equal to the then fair market price of the ordinary shares, as determined by the Company's board of directors, granted to employees, consultants or service providers: (A) issued any securities or incurred any material liability or obligation, direct or contingent, for borrowed money other than in the ordinary course of business; or (B) declared or paid any dividend or made any other distribution on or in respect to its capital stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Corporate Power; Licenses; Consents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Conduct of Business</u>. Except as described in the Registration Statement and the Prospectus, the Company has all requisite corporate power and authority, and has all necessary authorizations, approvals, orders, licenses, certificates and permits of and from all governmental regulatory officials and bodies that it needs as of the date hereof to conduct its business purpose as described in the Prospectus except, any non-compliance, in each case, would not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Transactions Contemplated Herein</u>. The Company has all corporate power and authority to enter into this Agreement and to carry out the provisions and conditions hereof and thereof, and all consents, authorizations, approvals and orders required in connection therewith have been obtained. No consent, authorization or order of, and no filing with, any court, government agency or other body is required for the valid issuance, sale and delivery of the Securities and the consummation by the Company of the transactions and agreements contemplated by this Agreement and as contemplated by the Prospectus, except with respect to applicable federal and state securities laws and the rules and regulations of the Financial Industry Regulatory Authority ("**FINRA**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Good Standing</u>. The Company has been duly incorporated, is validly existing and is in good standing under the laws of the Cayman Islands exempted as of the date hereof, and is duly qualified to do business and is in good standing in each jurisdiction in which the conduct of business requires such qualification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Subsidiaries</u>. Exhibit 21.1 of the Registration Statement lists all the Company's subsidiaries and sets forth the ownership of all of the subsidiaries. The subsidiaries are duly organized and in good standing under the laws of the place of organization or incorporation, and each such subsidiary is in good standing in each jurisdiction in which its ownership or lease of property or the conduct of business requires such qualification, except where the failure to qualify would not reasonably be expected to have a Material Adverse Effect. The Company's ownership and control of each subsidiary and each subsidiary's ownership and control of other subsidiaries, is as described in the Registration Statement, the Disclosure Materials and the Prospectus. The Company does not own or control, directly or indirectly, any corporation, association or entity other than the subsidiaries described in the Registration Statement, the Disclosure Materials and the Prospectus. Each of the Company and its subsidiaries has full corporate power and authority to own or lease, as the case may be, and to operate its properties and conduct its business as described in the Disclosure Materials and the Prospectus, and is duly qualified to do business under the laws of each jurisdiction which requires such qualification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Board of Directors</u>. The Board of Directors of the Company is comprised of the persons set forth under the heading of the Prospectus captioned "*Management*." The qualifications of the persons serving as board members and the overall composition of the board comply with the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder applicable to the Company and the rules of Nasdaq. At least one member of the Board of Directors of the Company qualifies as an "<u>audit committee financial expert</u>" as such term is defined under the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder and the rules of Nasdaq. In addition, at least a majority of the persons serving on the Board of Directors qualify as "<u>independent</u>" as defined under the rules of the Commission and Nasdaq.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Officers' Certificate</u>. Any certificate signed by any duly authorized officer of the Company and delivered to Underwriters or to Underwriters' Counsel shall be deemed a representation and warranty by the Company to the Underwriters as to the matters covered thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>D&O Questionnaires</u>. To the Company's knowledge, all information contained in the questionnaires (the "**Questionnaires**") completed by each of the Company's directors and officers named in the section "*Management*" in the Prospectus immediately prior to the Offering (the "**Insiders**") as well as in the Lock-Up Agreements in the form attached hereto as <u>Annex IV</u> provided to the Underwriter is true and correct in all respects and the Company has not become aware of any information which would cause the information disclosed in the Questionnaires completed by each Insider to become inaccurate or incorrect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>MD&A</u>. The section entitled "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" in the Preliminary Prospectus included in the Disclosure Materials and the Prospectus accurately and fully describes in all material respects (i) accounting policies that the Company believes are the most important in the portrayal of the Company's financial condition and results of operations and that require management's most difficult, subjective or complex judgments ("**Critical Accounting Policies**"); (ii) judgments and uncertainties affecting the application of the Critical Accounting Policies; and (iii) the likelihood that materially different amounts would be reported under different conditions or using different assumptions and an explanation thereof; and the Company's management have reviewed and agreed with the selection, application and disclosure of the Critical Accounting Policies as described in the Disclosure Materials and the Prospectus and have consulted with its independent accountants with regard to such disclosure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Financial Statements, etc</u>. The financial statements, including the notes thereto and supporting schedules included in the Registration Statement and Prospectus fairly present the financial position and the results of operations of the Company at the dates and for the periods to which they apply; and such financial statements have been prepared in conformity with United States generally accepted accounting principles ("**GAAP**"), consistently applied throughout the periods involved except as disclosed therein; and the supporting schedules included in the Registration Statement and Prospectus present fairly the information required to be stated therein. The Registration Statement and Prospectus disclose all material off-balance sheet transactions, arrangements, obligations (including contingent obligations), and other relationships of the Company with unconsolidated entities or other persons that may have a material current or future effect on the Company's financial condition, changes in financial condition, results of operations, liquidity, capital expenditures, capital resources, or significant components of revenues or expenses. Except as disclosed in the Registration Statement and the Prospectus, (i) neither the Company nor any of its subsidiaries has incurred any material liabilities or obligations, direct or contingent, or entered into any material transactions other than in the ordinary course of business; (ii) the Company has not declared or paid any dividends or made any distribution of any kind with respect to its capital stock; (iii) there has not been any change in the share capital of the Company or any of its subsidiaries or any grants under any stock compensation plan; and (iv) there has not been any material adverse change in the Company's long-term or short-term debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Free Transferability of Dividends or Distributions</u>. Except as disclosed in the Disclosure Materials, Registration Statement and Prospectus all dividends and other distributions declared and payable on the ordinary shares may under current Cayman Islands and Hong Kong laws and regulations be paid to the holders of Securities in United States dollars and may be converted into foreign currency that may be transferred out of the Cayman Islands and Hong Kong in accordance with, and all such payments made to holders thereof or therein who are non-residents of the Cayman Islands or Hong Kong, will not be subject to income, withholding or other taxes under, the laws and regulations of the Cayman Islands and Hong Kong, or any political subdivision or taxing authority thereof or therein and will otherwise be free and clear of any other tax, duty, withholding or deduction in the Cayman Islands and Hong Kong or any political subdivision or taxing authority thereof or therein and without the necessity of obtaining any governmental authorization in the Cayman Islands and Hong Kong or any political subdivision or taxing authority thereof or therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Independent Accountants</u>. To the best of the Company's knowledge, TAAD LLP, whose report is filed with the Commission as part of the Registration Statement and the Prospectus, are independent registered public accountants as required by the Act and the Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Authorized Capital; Options, etc</u>. The Company had the duly authorized, issued and outstanding capitalization as set forth in the Registration Statement and the Prospectus. Based on the assumptions stated in the Registration Statement and the Prospectus, the Company will have on the Closing Date the adjusted capitalization set forth therein. Except as set forth in, or contemplated by, this Agreement, the Registration Statement and the Prospectus, on the Effective Date and on the Closing Date, there will be no options, warrants, or other rights to purchase or otherwise acquire any authorized, but unissued share capital of the Company or any security convertible into share capital of the Company, or any contracts or commitments to issue or sell shares or any such options, warrants, rights or convertible securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Valid Issuance of Securities, etc.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Outstanding Securities</u>. All issued and outstanding securities of the Company issued prior to the transactions contemplated by this Agreement have been duly authorized and validly issued and are fully paid and non-assessable; the holders thereof have no rights of rescission with respect thereto, and are not subject to personal liability by reason of being such holders; and none of such securities were issued in violation of the preemptive rights of any holders of any security of the Company or similar contractual rights granted by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Securities Sold Pursuant to this Agreement</u>. The Securities have been duly authorized for issuance and sale and, when issued and paid for, will be validly issued, fully paid and non-assessable; the Securities are not and will not be subject to the preemptive rights of any holders of any security of the Company or similar contractual rights granted by the Company; and all corporate action required to be taken for the authorization, issuance and sale of the foregoing Securities has been duly and validly taken. The Securities conform in all material respects to all statements with respect thereto contained in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Issuance of Securities</u>. Upon issuance of Securities, and subject to full payment thereof by the Underwriters in accordance with the terms thereof, such Securities will be duly and validly issued, and the persons in whose names the Securities are registered will be entitled to the rights specified in the Securities, and upon the sale and delivery of these Securities, and payment therefor, pursuant to this Agreement, the purchasers will acquire good, marketable and valid title to such Securities, free and clear of all pledges, liens, security interests, charges, claims or encumbrances of any kind.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>Lock-Up Period.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each Insider and each beneficial owner of the Company holding five percent (5.0%) or more of the issued and outstanding ordinary shares (together with the Insiders, the "**Lock-Up Parties**") have agreed pursuant to the executed Lock-Up Agreements in the form attached hereto as <u>Annex IV</u> that for a period ending twelve (12) months from the date of commencement of sales of this Offering (the "**Lock-Up Period**"), such persons and their affiliated parties shall not offer, pledge, sell, contract to sell, grant, lend or otherwise transfer or dispose of, directly or indirectly, any Securities or capital stock of the Company, including ordinary shares, or any securities convertible into or exercisable or exchangeable for such Securities or capital stock, without the consent of the Underwriters. The Underwriters may consent to an early release from the applicable Lock-Up period if, in its opinion, the market for the Securities would not be adversely impacted by sales and in cases of financial emergency of an Insider or other holders of Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Company, on behalf of itself and any successor entity, has agreed that, without the prior written consent of the Underwriters, it will not, for a period ending twelve (12) months days from the date of commencement of sales of this Offering, (A) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company; (B) file or cause to be filed any registration statement with the Commission relating to the offering of any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company; or (C) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of capital stock of the Company, whether any such transaction described in clause (A), (B) or (C) above is to be settled by delivery of shares of capital stock of the Company or such other securities, in cash or otherwise. The restrictions contained in this <u>Section 2(p)(ii)</u> shall not apply to (x) the Securities to be sold hereunder, (y) the issuances pursuant to the Company's existing equity incentive plans, employee share purchase plans, or equity-based compensation arrangements in effect, if applicable, as of the date of this Agreement, or (z) any future equity incentive plans, equity grants, or issuances made in the ordinary course of business for compensatory purposes, including but not limited to issuances of ordinary shares to employees, officers, directors, consultants, or service providers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) <u>Registration Rights of Third Parties</u>. Except as set forth in the Registration Statement and the Prospectus, no holders of any securities of the Company or any rights exercisable for or convertible or exchangeable into securities of the Company have the right to require the Company to register any such securities of the Company under the Act or to include any such securities in a registration statement to be filed by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) <u>Related Party Transactions</u>. Except as disclosed in the Registration Statement and the Prospectus, there are no business relationships or related party transactions involving the Company or any other person required to be described in the Prospectus that have not been described as required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) <u>Scheme or Arrangement with Shareholders</u>. Neither the Company nor any of its affiliates is a party to any scheme or arrangement through which shareholders or potential shareholders are being loaned, given or otherwise having money made available for the purchase of shares whether before, in or after the Offering. Neither the Company nor any of its affiliates is aware of any such scheme or arrangement, regardless of whether it is a party to a formal agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (t) <u>Transactions Affecting Disclosure to FINRA</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Finder's Fees</u>. Except as described in the Registration Statement and the Prospectus, there are no claims, payments, arrangements, agreements or understandings relating to the payment of a finder's, consulting or origination fee by the Company or any Insider with respect to the sale of the Securities hereunder or any other arrangements, agreements or understandings of the Company or, to the best of the Company's knowledge, any of its shareholders that may affect the Underwriters' compensation, as determined by FINRA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Payments Within Twelve (12) Months</u>. Except as described in the Registration Statement and the Prospectus, the Company has not made any direct or indirect payments (in cash, securities or otherwise) to: (A) any person, as a finder's fee, consulting fee or otherwise, in consideration of such person raising capital for the Company or introducing to the Company persons who raised or provided capital to the Company; (B) to any FINRA member; or (C) to any person or entity that has any direct or indirect affiliation or association with any FINRA member, within the twelve (12) months prior to the Effective Date, other than the prior payment to the Underwriters, as provided hereunder in connection with the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>FINRA Affiliation</u>. To the best of the Company's knowledge, and except as may have been previously disclosed in writing to the Underwriters, no Insider or any beneficial owner of ten percent (10%) or more of the Company's outstanding ordinary shares has any direct or indirect affiliation or association with any FINRA member (as determined in accordance with the rules and regulations of FINRA).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) <u>Validity and Binding Effect of This Agreement</u>. This Agreement has been duly and validly authorized by the Company, and, when executed and delivered, will constitute, the valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except: (i) as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors' rights generally; (ii) as enforceability of any indemnification or contribution provision may be limited under the federal and state securities laws; and (iii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding therefore may be brought.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>No Conflicts.</u> The execution, delivery, and performance by the Company of this Agreement, the consummation by the Company of the transactions herein and therein contemplated and the compliance by the Company with the terms hereof do not and will not, with or without the giving of notice or the lapse of time or both: (i) result in a material breach of, or conflict with any of the terms and provisions of, or constitute a material default under, or result in the creation, modification, termination or imposition of any lien, charge or encumbrance upon any property or assets of the Company pursuant to the terms of any agreement or instrument to which the Company is a party; (ii) result in any violation of the provisions of the Company's amended and restated memorandum and articles of association or bylaws (as the same may be amended from time to time, the "**Charter**"); or (iii) violate any existing applicable law, rule, regulation, judgment, order or decree of any governmental agency or court, domestic or foreign, having jurisdiction over the Company or any of its properties or business constituted as of the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) <u>No Stop Orders, etc</u>. Neither the Commission nor, to the best of the Company's knowledge, any state regulatory authority has issued any order preventing or suspending the use of the Registration Statement, any preliminary prospectus ("**Preliminary Prospectus**") or the Prospectus (collectively, the "**Disclosure Materials**") or has instituted or, to the best of the Company's knowledge, threatened to institute any proceedings with respect to such an order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) <u>No Defaults; Violations</u>. No default exists in the due performance and observance of any term, covenant or condition of any material license, contract, indenture, mortgage, deed of trust, note, loan or credit agreement, or any other material agreement or instrument evidencing an obligation for borrowed money, or any other material agreement or instrument to which the Company is a party or by which the Company may be bound or to which any of the properties or assets of the Company is subject, except for such defaults that would not, singly or in the aggregate, result in a Material Adverse Effect to the Company and its subsidiaries, and that are not otherwise disclosed in the Disclosure Materials. The Company is not in violation of any term or provision of its Charter, or in violation in any respect of any franchise, license, permit, applicable law, rule, regulation, judgment or decree of any governmental agency or court, domestic or foreign, having jurisdiction over the Company or any of its properties or businesses, except for such defaults that would not, singly or in the aggregate, result in a Material Adverse Effect to the Company and its subsidiaries, and that are not otherwise disclosed in the Disclosure Materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) <u>No Material Labor Disputes</u>. No material labor dispute with the employees of the Company or any of its subsidiaries exists or, to the best of the Company's knowledge, is imminent, which would result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) <u>Litigation; Governmental Proceedings</u>. There is no (i) action, (ii) suit, (iii) proceeding, (iv) inquiry, (v) arbitration, (vi) investigation, (vii) litigation, or (viii) governmental proceeding that is pending, threatened against, or involving the Company or any of its executive officers or directors. Any of the aforementioned situations that are pending or threatened have been disclosed in the Disclosure Materials and in connection with the Company's listing application for the listing of the Securities on Nasdaq.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) <u>Choice of Law</u>. Except as disclosed in the Disclosure Materials, Registration Statement and the Prospectus, the choice of law provision set forth in this Agreement constitutes a legal and valid choice of law under the laws of the Cayman Islands and Hong Kong (except for Cayman Islands laws (A) which such court considers to be procedural in nature, (B) which are revenue or penal laws or (C) the application of which would be inconsistent with public policy, as such term is interpreted under the laws of the Cayman Islands) and will be honored by courts in the Cayman Islands and Hong Kong, subject to compliance with relevant civil procedural requirements (that do not involve a re-examination of the merits of the claim) in the Cayman Islands and Hong Kong. The Company has the power to submit, and pursuant <u>to Section 15</u> of this Agreement, has legally, validly, effectively and submitted, to the personal jurisdiction of each of the New York Courts, and the Company has the power to designate, appoint and authorize, and pursuant to <u>Section 15</u> of this Agreement, has legally, validly, effectively and irrevocably designated, appointed an authorized agent for service of process in any action arising out of or relating to this Agreement, or the Securities in any New York Court, and service of process effected on such authorized agent will be effective to confer valid personal jurisdiction over the Company as provided in <u>Section 15</u> of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) <u>Recognition of Judgments</u>. Except as described under the section "*Enforceability of Civil Liabilities*" in the Time of Sale Prospectus and the Prospectus, the courts of the Cayman Islands and Hong Kong would recognize as a valid judgment any final monetary judgment obtained against the Company in the courts of the State of New York.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) <u>No Immunity</u>. None of the Company, its subsidiaries, or any of its or their properties or assets has any immunity from the jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution or otherwise) under the laws of the Cayman Islands and Hong Kong or federal law of the United States; and, to the extent that the Company, its subsidiaries, or any of their respective properties, assets or revenues may have or may hereafter become entitled to any such right of immunity in any such court in which proceedings may at any time be commenced, each of the Company and its subsidiaries waives or will waive such right to the extent permitted by law and has consented to such relief and enforcement under New York law as provided under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) <u>Intellectual Property</u>. Except as described in the Registration Statement and the Prospectus, the Company and each of its subsidiaries owns or possesses or has valid rights to use all patents, patent applications, trademarks, service marks, trade names, trademark registrations, service mark registrations, copyrights, licenses, inventions, trade secrets and similar rights ("**Intellectual Property**") necessary for the conduct of the business of the Company and its subsidiaries as currently carried on and as described in the Registration Statement and the Prospectus, except for such Intellectual Property, the failure of which to own or possess, as the case may be, would not reasonably be expected to result in a Material Adverse Effect. To the best of the Company's knowledge, no action or use by the Company or any of its subsidiaries will involve or give rise to any infringement of, or material license or similar fees for, any Intellectual Property of others, that would reasonably be expected to have a Material Adverse Effect on the Company and the subsidiaries, taken as a whole, except as disclosed in the Registration Statement. Neither the Company nor any of its subsidiaries has received any notice alleging any such infringement or fee, except such infringement or fee that would not reasonably be expected to have a Material Adverse Effect on the Company or the subsidiaries, taken as a whole.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) <u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each of the Company and its subsidiaries has filed all returns (as hereinafter defined) required to be filed with taxing authorities prior to the date hereof or has duly obtained extensions of time for the filing thereof. Each of the Company and its subsidiaries has paid all taxes (as hereinafter defined) shown as due on such returns that were filed and has paid all material taxes imposed on or assessed against the Company or such subsidiaries. The provisions for taxes payable, if any, shown on the financial statements filed with or as part of the Registration Statement are sufficient for all accrued and unpaid taxes, whether or not disputed, for all periods to and including the dates of such consolidated financial statements. Except as disclosed in writing to the Underwriters and to the knowledge of the Company, (A) no material issues have been raised (and are currently pending) by any taxing authority in connection with any of the returns or taxes asserted as due from the Company or its subsidiaries, and (B) no waivers of statutes of limitation with respect to the returns or collection of taxes have been given by or requested from the Company or its subsidiaries. The term "**taxes**" mean all federal, state, local, foreign, and other net income, gross income, gross receipts, sales, use, ad valorem, transfer, franchise, profits, license, lease, service, service use, withholding, payroll, employment, excise, severance, stamp, occupation, premium, property, windfall profits, customs, duties or other taxes, fees, assessments, or charges of any kind whatever, together with any interest and any penalties, additions to tax, or additional amounts with respect thereto. The term "**returns**" means all returns, declarations, reports, statements, and other documents required to be filed with relevant taxing authorities in respect to taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Except as disclosed in the Registration Statement, the Disclosure Materials and Prospectus, no transaction, stamp, capital or other issuance, registration, transaction, transfer or withholding taxes or duties are payable in China, Hong Kong, or the Cayman Islands to any Chinese, Hong Kong, or Cayman Islands taxing authority in connection with (A) the issuance, sale and delivery of the Securities to or for the account of the purchasers, and (B) the purchase from the Company and the sale and delivery of the Securities to purchasers thereof

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) <u>Data</u>. The statistical, industry-related and market-related data included in the Registration Statement and the Prospectus are based on or derived from sources which the Company reasonably and in good faith believes are reliable and accurate, and such data agree with the sources from which they are derived. The Company has obtained the written consent to the use of such data from such sources to the extent necessary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) The Company's Board of Directors has validly appointed an audit committee whose composition satisfies the requirements of the rules and regulations of Nasdaq and the Board of Directors and/or audit committee has adopted a charter that satisfies the requirements of the rules and regulations of Nasdaq. Except as described in the Registration Statement and the Prospectus, neither the Board of Directors nor the audit committee has been informed, nor is any director of the Company aware, of any significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company's ability to record, process, summarize and report financial information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh) Neither the Company nor the subsidiaries has, prior to the date hereof, made any offer or sale of any securities which are required to be "<u>integrated</u>" pursuant to the Act or the Regulations with the offer and sale of the Underwriters pursuant to the Registration Statement. Except as disclosed in the Registration Statement, neither the Company nor the subsidiaries has sold or issued any ordinary shares or any securities convertible into, exercisable or exchangeable for ordinary shares, or other equity securities, or any rights to acquire any ordinary shares or other equity securities of the Company, during the six-month period preceding the date of the Prospectus, including but not limited to any sales pursuant to Rule 144A or Regulation D or S under the Act, other than ordinary shares issued pursuant to employee benefit plans, qualified stock option plans or the employee compensation plans or pursuant to outstanding options, rights or warrants as described in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Sarbanes-Oxley Compliance</u>. Except as described in the Registration Statement, the Disclosure Materials, and the Prospectus, the Company has taken all necessary actions to ensure that, on the Effective Date, will be in material compliance with the provisions of the Sarbanes-Oxley Act of 2002 applicable to it and has implemented or will implement such programs and taken reasonable steps to ensure the Company's future compliance (not later than the relevant statutory and regulatory deadlines therefor) with all the material provisions of the Sarbanes-Oxley Act of 2002.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj) <u>No Investment Company Status</u>. The Company is not and, after giving effect to the Offering and sale of the Securities and the application of the net proceeds thereof as described in the Registration Statement and the Prospectus, will not be, an "<u>investment company</u>" as defined in the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk) <u>Money Laundering</u>. The operations of the Company and the subsidiaries are and have been conducted at all times in all material respects in compliance with applicable financial recordkeeping and reporting requirements of money laundering statutes and the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the "**Money Laundering Laws**") and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company, or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the best of the Company's knowledge, threatened.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll) <u>Foreign Corrupt Practices Act</u>. Neither the Company nor any of the Insiders or employees of the Company or any other person authorized to act on behalf of the Company has, directly or indirectly, knowingly given or agreed to give any money, gift or similar benefit (other than legal price concessions to customers in the ordinary course of business) to any customer, supplier, employee or agent of a customer or supplier, or official or employee of any governmental agency or instrumentality of any government (domestic or foreign) or any political party or candidate for office (domestic or foreign) or other person who was, is, or may be in a position to help or hinder the business of the Company (or assist it in connection with any actual or proposed transaction) that might subject the Company to any damage or penalty in any civil, criminal or governmental litigation or proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm) <u>Office of Foreign Assets Control</u>. None of the Company, the subsidiaries, and, to the best of the Company's knowledge, any director, officer, or employee of the Company and the subsidiaries has conducted or entered into a contract to conduct any transaction with the governments or any of subdivision thereof, residents of, or any entity based or resident in the countries that are currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department ("**OFAC**"); none of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by OFAC (including but not limited to the designation as a "<u>specially designated national or blocked person</u>" thereunder), the United Nations Security Council, or the European Union or is located, organized or resident in a country or territory that is the subject of OFAC-administered sanctions, including, without limitation, Burma/Myanmar, Cuba, Iran, North Korea, Sudan and Syria; and the Company will not knowingly directly or indirectly use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiaries, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn) <u>Foreign Private Issuer Status</u>. The Company is a "<u>foreign private issuer</u>" within the meaning of Rule 405 under the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(oo) <u>Not a PFIC</u>. Except as disclosed in the Disclosure Materials, Registration Statement and Prospectus, the Company does not expect that it will be treated as a Passive Foreign Investment Company ("**PFIC**") within the meaning of Section 1297 of the United States Internal Revenue Code of 1986, as amended, for its current taxable year. The Company has no plan or intention to operate in such a manner that would reasonably be expected to result in the Company becoming a PFIC in future taxable years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(pp) <u>Organization</u>. Idea Tech Limited and Ask Idea (Hong Kong) Limited are duly organized under the laws of the Hong Kong and possess all necessary business licenses, approvals, permits or other authorizations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qq) <u>Material Contracts</u>. Neither the Company nor any of the Subsidiaries has, since the date of the latest audited financial statements included in the Registration Statement, the Disclosure Materials, and the Prospectus, entered into any transaction or agreement (whether or not in the ordinary course of business) that is material to the Company and the Subsidiaries taken as a whole or incurred any liability or obligation, direct or contingent, that is material to the Company and the Subsidiaries taken as a whole and not otherwise disclosed in the Registration Statement, the Disclosure Materials, and the Prospectus. Neither the Company nor any of the Subsidiaries has sent or received any written communication regarding termination of, or intent not to renew, any of the contracts or agreements specifically referred to or described in the Registration Statement, the Disclosure Materials, and the Prospectus, or specifically referred to or described in, or filed as an exhibit to, the Registration Statement, and no such termination or non-renewal has been threatened by the Company, any of the Subsidiaries or any other party to any such contract or agreement. Neither the Company nor any of its Subsidiaries is a party to any effective memorandum of understanding, letter of intent, definitive agreement or any similar agreements with respect to a merger or consolidation or an acquisition or disposition of assets, technologies, business units or businesses which is required to be described in the Registration Statement, the Disclosure Materials, and the Prospectus and which is not so described.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(rr) <u>Property</u>. The Company and the Subsidiaries have good and marketable title (or, in the case of a real property located in the Hong Kong, valid land use rights and real property ownership certificates with respect to such real property) to the real property and personal property owned by them which are in each case material to the business of the Company and the Subsidiaries taken as a whole, free and clear of all liens, encumbrances and defects; and any real property and buildings held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as are described in the Registration Statement, the Disclosure Materials, and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ss) <u>Forward-looking Statement</u>. No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) included or incorporated by reference in any of the Registration Statement, the Disclosure Materials, or the Prospectus (including all amendments and supplements thereto) has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(tt) [RESERVED].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(uu) <u>Dividends and Distributions</u>. Except as disclosed in the Disclosure Materials, Registration Statement and the Prospectus, no subsidiaries of the Company is currently prohibited or restricted, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such subsidiary's capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary's property or assets to the Company or any other subsidiary of the Company.

**3. <u>Offering</u>**. Upon authorization of the release of the Securities by the Underwriters, the Underwriters propose to offer the Securities for sale to the public upon the terms and conditions set forth in the Prospectus.

**4. <u>Covenants of the Company</u>**. The Company acknowledges, covenants and agrees with the Underwriters that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registration Statement and any amendments thereto have been declared effective, and if Rule 430A is used or the filing of the Prospectus is otherwise required under Rule 424(b), the Company will file the Prospectus (properly completed if Rule 430A has been used) pursuant to Rule 424(b) within the prescribed time period and will provide evidence satisfactory to the Underwriters of such timely filing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) During the period beginning on the date hereof and ending on the later of the Closing Date or such date as, in the reasonable opinion of Underwriters' Counsel, the Prospectus is no longer required by law to be delivered (or in lieu thereof the notice referred to in Rule 173(a) under the Act is no longer required to be provided) in connection with sales by an underwriter or dealer (the "**Prospectus Delivery Period**"), prior to amending or supplementing the Registration Statement, the General Disclosure Package or the Prospectus, the Company shall furnish to the Underwriters and Underwriters' Counsel for review a copy of each such proposed amendment or supplement, and the Company shall not file any such proposed amendment or supplement to which the Underwriters reasonably object within 36 hours of delivery thereof to Underwriters' Counsel. The term "**General Disclosure Package**" means, collectively, the Issuer Free Writing Prospectus (es) (as defined below) issued at or prior to the date hereof, the most recent preliminary prospectus related to this offering, and the information included on <u>Schedule A</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) After the date of this Agreement, the Company shall promptly advise the Underwriters in writing of: (i) the receipt of any comments of, or requests for additional or supplemental information from, the Commission; (ii) the time and date of any filing of any post-effective amendment to the Registration Statement or any amendment or supplement to any prospectus, the General Disclosure Package or the Prospectus; (iii) the time and date that any post-effective amendment to the Registration Statement becomes effective; and (iv) the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or any post-effective amendment thereto or of any order preventing or suspending its use or the use of any prospectus, the General Disclosure Package, the Prospectus or any issuer free writing prospectus as defined in Rule 433 of the Regulations (the "**Issuer Free Writing Prospectus**"), or the initiation of any proceedings to remove, suspend or terminate from listing the Shares from any securities exchange upon which the Shares are listed for trading, or of the threatening of initiation of any proceedings for any of such purposes. If the Commission shall enter any such stop order at any time, the Company will use its reasonable efforts to obtain the lifting of such order at the earliest possible moment. Additionally, the Company agrees that it shall comply with the provisions of Rules 424(b), 430A and 430B, as applicable, under the Act and will use its reasonable efforts to confirm that any filings made by the Company under Rule 424(b) or Rule 433 were received in a timely manner by the Commission (without reliance on Rule 424(b)(8) or Rule 164(b)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (i) During the Prospectus Delivery Period, the Company will comply with all requirements imposed upon it by the Act, as now and hereafter amended, and by the Regulations, as from time to time in force, so far as necessary to permit the continuance of sales of or dealings in the Securities as contemplated by the provisions hereof, the General Disclosure Package, the Registration Statement and the Prospectus. If during such period any event or development occurs as a result of which the Prospectus (or if the Prospectus is not yet available to prospective purchasers, the General Disclosure Package) would include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances then existing, not misleading, or if during such period it is necessary or appropriate in the opinion of the Company or its counsel or the Underwriters or Underwriters' Counsel to amend the Registration Statement or supplement the Prospectus (or if the Prospectus is not yet available to prospective purchasers, the General Disclosure Package) to comply with the Act, the Company will promptly notify the Underwriters and will promptly amend the Registration Statement or supplement the Prospectus (or if the Prospectus is not yet available to prospective purchasers, the General Disclosure Package) or file such document (at the expense of the Company) so as to correct such statement or omission or effect such compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If at any time following the issuance of an Issuer Free Writing Prospectus there occurs an event or development as a result of which such Issuer Free Writing Prospectus would conflict with the information contained in the Registration Statement or the Prospectus or would include an untrue statement of a material fact or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances there existing, not misleading, the Company will promptly notify the Underwriters and will promptly amend or supplement, at its own expense, such Issuer Free Writing Prospectus to eliminate or correct such conflict, untrue statement or omission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Company will deliver to the Underwriters and Underwriters' Counsel a copy of the Registration Statement, as initially filed, and all amendments thereto, including all consents and exhibits filed therewith, and will maintain in the Company's files manually signed copies of such documents for at least five (5) years after the date of filing thereof. The Company will promptly deliver to each of the Underwriters such number of copies of any Preliminary Prospectus, the Prospectus, the Registration Statement, and all amendments of and supplements to such documents, if any, and all documents which are exhibits to the Registration Statement and any Preliminary Prospectus or Prospectus or any amendment thereof or supplement thereto, as the Underwriters may reasonably request. Prior to 10:00 A.M., Eastern Time, on the Business Day next succeeding the date of this Agreement, and from time to time thereafter, the Company shall furnish to the Underwriters copies of the Prospectus in such quantities as the Underwriters may reasonably request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Company consents to the use and delivery of the Preliminary Prospectus by the Underwriters in accordance with Rule 430 and Section 5(b) of the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) If the Company elects to rely on Rule 462(b) under the Act, the Company shall both file a Rule 462(b) Registration Statement with the Commission in compliance with Rule 462(b) by the earlier of: (i) 10:00 P.M., Eastern Time, on the date of this Agreement, and (ii) the time that confirmations are given or sent, as specified by Rule 462(b)(2), and pay the applicable fees in accordance with Rule 111 of the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Company will use its best efforts, in cooperation with the Underwriters, at or prior to the time of effectiveness of the Registration Statement, to qualify the Securities for offering and sale under the securities laws relating to the offering or sale of the Securities of such jurisdictions as the Underwriters may designate and to maintain such qualifications in effect for so long as required for the distribution thereof; except that in no event shall the Company be obligated in connection therewith to qualify as a foreign corporation or to execute a general consent to service of process or to subject itself to taxation if it is otherwise not so subject.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Company will make generally available (which includes filings pursuant to the Exchange Act made publicly through the Electronic Data Gathering, Analysis and Retrieval ("**EDGAR**") system) to its security holders as soon as practicable, but in any event not later than 15 months after the end of the Company's current fiscal quarter, an earnings statement (which need not be audited) covering a 12-month period that shall satisfy the provisions of Section 11(a) of the Act and Rule 158 of the Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Except with respect to (i) securities of the Company which may be issued in connection with an acquisition of another entity (or the assets thereof), (ii) the issuance of securities of the Company intended to provide the Company with proceeds to acquire another entity (or the assets thereof), or (iii) the issuance of securities under the Company's stock option plans with exercise or conversion prices at fair market value (as defined in such plans) in effect from time to time, during the three (3) months following the Closing Date, the Company or any successor to the Company shall not undertake any public or private offerings of any equity securities of the Company (including equity-linked securities) without the prior written consent of the Underwriters, which shall not be unreasonably withheld.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Starting from the commencement of sales of this offering, any of the entities and individuals listed on <u>Schedule B</u> hereto (the "**Lock-Up Parties**"), without the prior written consent of the Underwriters, shall not sell or otherwise dispose of any securities of the Company, whether publicly or in a private placement, during their respective lock-up period in the lock-up agreements that are in effect. The Company will deliver to the Underwriters the agreements of the Lock-Up Parties to the foregoing effect on the date of this Agreement, which agreements shall be substantially in the form attached hereto as <u>Annex IV.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) The Company will not issue press releases or engage in any other publicity without the Underwriters' prior written consent, for a period ending at 5:00 P.M., Eastern Time, on the first Business Day following the forty-fifth (45th) day following the Closing Date, other than normal and customary releases issued in the ordinary course of the Company's business, or as required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) The Company will apply the net proceeds from the sale of the Securities as set forth under the caption "*Use of Proceeds*" in the Prospectus. Without the prior written consent of the Underwriters, except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, no proceeds of the Offering will be used to pay outstanding loans from officers, directors or stockholders or to pay any accrued salaries or bonuses to any employees or former employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) The Company will use its best efforts to effect and maintain the listing of the ordinary shares on the Nasdaq Capital Market for at least two (2) years after the Effective Date, unless such listing is terminated as a result of a transaction approved by the holders of a majority of the voting securities of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) The Company will use its best efforts to do and perform all things required to be done or performed under this Agreement by the Company prior to the Closing Date, and to satisfy all conditions precedent to the delivery of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) The Company will not take, and will cause its subsidiaries not to take, directly or indirectly, any action which constitutes or is designed to cause or result in, or which could reasonably be expected to constitute, cause or result in, the stabilization or manipulation of the price of any security to facilitate the sale or resale of any of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) The Company shall cause to be prepared and delivered to the Underwriters, at its expense, within two (2) Business Days from the date of this Agreement, an Electronic Prospectus to be used by the Underwriters in connection with the Offering. As used herein, the term "**Electronic Prospectus**" means a form of prospectus, and any amendment or supplement thereto, that meets each of the following conditions: (i) it shall be encoded in an electronic format, satisfactory to the Underwriters, that may be transmitted electronically by the Underwriters to offerees and purchasers of the Securities for at least the period during which a Prospectus relating to the Securities is required to be delivered under the Act or the Exchange Act; (ii) it shall disclose the same information as the paper prospectus and prospectus filed pursuant to EDGAR, except to the extent that graphic and image material cannot be disseminated electronically, in which case such graphic and image material shall be replaced in the electronic prospectus with a fair and accurate narrative description or tabular representation of such material, as appropriate; and (iii) it shall be in or convertible into a paper format or an electronic format, satisfactory to the Underwriters, that will allow recipients thereof to store and have continuously ready access to the prospectus at any future time, without charge to such recipients (other than any fee charged for subscription to the Internet as a whole and for online time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) [RESERVED].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) The Company will comply with and require the Company's directors and executive officers, in their capacities as such, to comply with all applicable securities laws, rules and regulations, including, without limitation, the Sarbanes-Oxley Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) The Company will promptly notify the Underwriters if the Company ceases to be an Emerging Growth Company at any time prior to the completion of the Lock-up Period.

**5. <u>Representations and Warranties of the Underwriters</u>**.

The Underwriters represent and agree that, unless it obtains the prior written consent of the Company, they have not made and will not make any offer relating to the Securities that would constitute a "<u>free writing prospectus</u>," as defined in Rule 405 under the Act, required to be filed with the Commission; *provided* that the prior written consent of the parties hereto shall be deemed to have been given in respect of the free writing prospectuses. Any such free writing prospectus consented to by the Underwriters is herein referred to as a "**Permitted Free Writing Prospectus**." The Underwriters represent that they have treated or agree that they will treat each Permitted Free Writing Prospectus as an "<u>issuer free writing prospectus</u>," as defined in Rule 433, and have complied and will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely Commission filing where required, legending and record keeping.

**6. <u>Consideration; Payment of Expenses</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In consideration of the services to be provided for hereunder, the Company shall pay to the Underwriters or their respective designees their pro rata portion (based on the Securities purchased) of the following compensation with respect to the Securities which they are offering:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) an underwriting discount equal to seven percent (7.0%) of the aggregate gross proceeds raised in the Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) an accountable expense allowance of up to $200,000, including, among other things, all reasonable fees and expenses of the Underwriters' outside legal counsel; any reasonable costs and expenses incurred in conducting background checks of the Company's officers and directors by a background search firm acceptable to the Underwriters; and the costs associated with bound volumes and mementos in such quantities as the Underwriters may reasonably request (the "Accountable Out-of-Pocket Expenses"). The Company has advanced an amount of $25,000 (the "Advances") to the Representative in anticipation of any Accountable Out-of-Pocket Expenses to be incurred by the Underwriters. The Representative shall promptly return to the Company the Advances against the Accountable Out-of-Pocket Expenses, to the extent that such Accountable Out-of-Pocket Expenses are not actually incurred in accordance with FINRA Rule 5110(g)(4)(A).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a non-accountable expense allowance of one percent (1.0%) of the gross proceeds of the Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Underwriters reserve the right to reduce any item of compensation or adjust the terms thereof as specified herein in the event that a determination shall be made by FINRA to the effect that the Underwriters' aggregate compensation is in excess of FINRA Rules or that the terms thereof require adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Whether or not the transactions contemplated by this Agreement, the Registration Statement and the Prospectus are consummated or this Agreement is terminated, the Company hereby agrees to pay all costs and expenses incident to the Offering, which is not included in the maximum accountable expense allowance, including the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all expenses in connection with the preparation, printing, formatting for EDGAR and filing of the Registration Statement, any Preliminary Prospectus and the Prospectus and any and all amendments and supplements thereto and the mailing and delivering of copies thereof to the Underwriters and dealers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) all fees and expenses in connection with filings with FINRA's Public Offering System;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) all fees, disbursements and expenses of the Company's counsel and accountants in connection with the registration of the Securities under the Act and the Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) all reasonable expenses in connection with the qualifications of the Securities for offering and sale under state or foreign securities or blue sky laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) all fees and expenses in connection with listing the Securities on a national securities exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) all reasonable travel expenses of the Company's officers, directors and employees and any other expense of the Company incurred in connection with attending or hosting meetings with prospective purchasers of the Securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) all the road show expenses incurred by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) any stock transfer taxes or other taxes incurred in connection with this Agreement or the Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) the costs associated with book building, prospectus tracking and compliance software and the cost of preparing certificates representing the Securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) the cost and charges of any transfer agent or registrar for the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) It is understood, however, that except as provided in this <u>Section 6</u>, and <u>Sections 9</u>, <u>10</u> and <u>11(d)</u> hereof, the Underwriters will pay all of their own costs and expenses. Notwithstanding anything to the contrary in this <u>Section 6</u>, in the event that this Agreement is terminated pursuant to <u>Section 11(b)</u> hereof, or subsequent to a Material Adverse Change, the Company will pay, less any advances previously paid, representing an advance to be applied towards the accountable expenses allowance (the "**Advances**"), all documented out-of-pocket expenses of the Underwriters (including but not limited to fees and disbursements of Underwriters' Counsel and reasonable and accountable travel) incurred in connection herewith which shall be limited to expenses which are actually incurred as allowed under FINRA Rule 5110 and in any event, the aggregate amount of such expenses to be reimbursed by the Company shall not exceed $200,000, including the Advances. To the extent that the Underwriters' out-of-pocket expenses are less than the Advances, the Underwriters will return to the Company that portion of the Advances not offset by actual expenses.

**7. <u>Right of First Refusal</u>**. The Company agrees that it shall provide the Representative the right of first refusal for six (6) months from the later of the Closing Date or termination or expiration of that certain engagement letter between the Company and Representative dated March 4, 2025 (the **"Engagement Letter"**), to act as sole investment banker, sole book-runner, and/or sole placement agent, at the Representative's sole discretion, for each and every transaction, including future public and private equity, equity linked offerings, and/or debt offerings (excluding commercial bank debt) of the Company (collectively, **"Future Services"**) (such right, the "**Right of First Refusal**"). The Representative shall have the sole right to determine whether or not any other financial advisor or broker dealer shall have the right to participate in any such Transaction and the economic terms of any such participation. Further, the Company shall immediately notify the Representative of a proposed Transaction. If the Representative fails to provide written notice within five (5) business days upon receiving the Company's notice, it shall be deemed to have waived its right of first refusal. The Right of First Refusal shall be subject to FINRA Rule 5110(g)(5), including that it may be terminated by the Company for cause, which includes that the Company may terminate the engagement of the Representative upon the Representative's material failure to provide the underwriting services required by this Agreement. Any decision by the Representative to act in any such capacity shall be contained in separate agreements, which agreements would contain, among other matters, provisions for customary fees for transactions of similar size and nature, as may be mutually agreed upon, and shall be subject to general market conditions. If the Representative declines or waives to exercise the Right of First Refusal, the Company shall have the right to retain any other person or persons to provide such services on terms and conditions which are not more favorable to such other person or persons than the terms declined by the Representative. The services provided by the Representative is solely for the benefit of the Company and are not intended to confer any rights upon any persons or entities not a party hereto (including without limitation, securityholders, employees or creditors of the Company) as against the Representative or its directors, officers, agents, and employees.

**8. <u>Tail Financing</u>**. The Underwriters shall be entitled to a cash fee equal to seven percent (7.0%) of the gross proceeds received by the Company from the sale of any equity, debt and/or equity derivative instruments to any investor actually introduced by the Representative to the Company and not-known to the Company before such introduction, prior to the termination or expiration of the Engagement Letter, in connection with any public or private financing or capital raise (each a "**Tail Financing**"), and such Tail Financing is consummated within nine (9) months following the Closing Date (the "**Tail Period**"), provided that such Tail Financing is by a party actually introduced to the Company in an offering in which the Company has direct knowledge of such party's participation. The right to receive a fee in connection with the Tail Financing shall be subject to FINRA Rule 5110(g), and the Company shall have a right of termination for cause, which includes that the Company may terminate the engagement of the Representative upon the Representative's material failure to provide the underwriting services required by this Agreement. In accordance with FINRA Rule 5110(g)(5)(B), the Company will not be required to pay any cash fee in connection with any Tail Financing to the extent this Agreement is terminated by the Company for cause.

**<u>9. Conditions of Underwriters' Obligations</u>**. The obligations of the Underwriters to purchase and pay for the Firm Shares as provided herein shall be subject to: (i) the accuracy of the representations and warranties of the Company herein contained, as of the date hereof and as of the Closing Date, (ii) the absence from any certificates, opinions, written statements or letters furnished to the Underwriters or to Underwriters' Counsel pursuant to this <u>Section 8</u> of any misstatement or omission, (iii) the performance by the Company of its obligations hereunder, and (iv) each of the following additional conditions. For purposes of this <u>Section 8</u>, the terms "**Closing Date**" and "**Closing**" shall refer to the Closing Date for the Firm Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registration Statement shall have become effective and all necessary regulatory and listing approvals shall have been received not later than 5:30 P.M., Eastern Time, on the date of this Agreement, or at such later time and date as shall have been consented to in writing by the Underwriters. If the Company shall have elected to rely upon Rule 430A under the Act, the Prospectus shall have been filed with the Commission in a timely fashion in accordance with the terms thereof and a form of the Prospectus containing information relating to the description of the Securities and the method of distribution and similar matters shall have been filed with the Commission pursuant to Rule 424(b) within the applicable time period; and, at or prior to the Closing Date and the actual time of the Closing, no stop order suspending the effectiveness of the Registration Statement or any part thereof, or any amendment thereof, nor suspending or preventing the use of the General Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus shall have been issued; no proceedings for the issuance of such an order shall have been initiated or threatened; all requests of the Commission for additional information (to be included in the Registration Statement, the General Disclosure Package, the Prospectus, any Issuer Free Writing Prospectus or otherwise) shall have been complied with to the Underwriters' satisfaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Underwriters shall not have reasonably determined, and advised the Company, that the Registration Statement, the General Disclosure Package or the Prospectus, or any amendment thereof or supplement thereto, or any Issuer Free Writing Prospectus, contains an untrue statement of fact which, in the Underwriters' reasonable opinion, is material, or omits to state a fact which, in the Underwriters' reasonable opinion, is material and is required to be stated therein or necessary to make the statements therein not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Underwriters shall have received, in form satisfactory to the Underwriters and Underwriters' counsel of (i) favorable legal opinions from Ogier, Cayman Islands counsel to the Company dated as of the Closing Date and addressed to the Representative, (ii) favorable legal opinions and negative assurance letter from Ortoli Rosenstadt LLP, U.S. legal counsel for the Company, dated as of the Closing Date and addressed to the Representative, and (iii) favorable legal opinions from Bird & Bird, Hong Kong legal counsel to the Company, dated as of the Closing Date. A copy of such opinion shall have been provided to the Underwriters with consent from such counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Underwriters shall have received certificates of each of the Chief Executive Officer and Chief Financial Officer of the Company (the "**Officers' Certificate**"), substantially in the form attached hereto as <u>Annex I</u> and dated as of the Closing Date, to the effect that: (i) the conditions set forth in subsection (a) of this <u>Section 8</u> have been satisfied, (ii) as of the date hereof and as of the Closing Date, the representations and warranties of the Company set forth in <u>Section 2</u> hereof are accurate, (iii) as of the Closing Date, all agreements, conditions and obligations of the Company to be performed or complied with hereunder on or prior thereto have been duly performed or complied with, (iv) the Company has not sustained any material loss or interference with its businesses, whether or not covered by insurance, or from any labor dispute or any legal or governmental proceeding, (v) no stop order suspending the effectiveness of the Registration Statement or any amendment thereof has been issued and no proceedings therefor have been initiated or threatened by the Commission, (vi) there are no pro forma or as adjusted financial statements that are required to be included in the Registration Statement and the Prospectus pursuant to the Regulations which are not so included, (vii) subsequent to the respective dates as of which information is given in the Registration Statement and the Prospectus, there has not been any Material Adverse Change or any development involving a prospective Material Adverse Change, whether or not arising from transactions in the ordinary course of business, and (viii) any other conditions deemed necessary for the closing of this offering by the Underwriters' Counsel have been satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) At each of the Closing Date, the Underwriters shall have received a certificate of the Company signed by the Secretary of the Company (the "**Secretary's Certificate**"), substantially in the form attached hereto as <u>Annex II</u> and dated the Closing Date, certifying: (i) that the Memorandum and Articles of Association of the Company, as amended, is true and complete, has not been modified and is in full force and effect; (ii) that the resolutions of the Company's Board of Directors relating to the Offering are in full force and effect and have not been modified; (iii) the good standing of the Company, and such certificate evidencing the good standing status shall have an issuance date not more than five (5) business days earlier than the Closing Date and/or the Option Closing Date; (iv) as to the incumbency of the officers of the Company. The documents referred to in such certificate shall be attached to such certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) On the date of this Agreement and on the Closing Date, the Company shall have furnished to the Representative, a certificate on behalf of the Company, dated the respective dates of delivery thereof and addressed to the Underwriters, of its Chief Financial Officer with respect to certain financial date contained in the Registration Statement and Prospectus (the "**CFO Certificate**"), providing "management comfort" with respect to such information, in form and substance reasonably satisfactory to the Representative, substantially in the form attached hereto as <u>Annex III</u>.

(g). On the date of this Agreement and on the Closing Date, the Underwriters shall have received a comfort letter from TAAD LLP (the "**Auditor Comfort Letter**"), dated as of each such date, addressed to the Underwriters and in form and substance satisfactory to the Underwriters and Underwriters' Counsel, confirming that they are independent certified public accountants with respect to the Company within the meaning of the Act and all applicable Regulations, and stating, as of such date (or, with respect to matters involving changes or developments since the respective dates as of which specified financial information is given in the Prospectus, as of a date not more than two (2) business days prior to such date), the conclusions and findings of such firm with respect to the financial information and other matters relating to the Registration Statement covered by such letter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Company shall have furnished the Underwriters and Underwriters' Counsel with such other certificates, opinions or documents as they may have reasonably requested.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Underwriters shall have received a lock-up agreement from each Lock-Up Party, duly executed by the applicable Lock-Up Party, in each case substantially in the form attached as <u>Annex IV</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Subsequent to the execution and delivery of this Agreement and prior to the Closing Date or, if earlier, the dates as of which information is given in the Registration Statement (exclusive of any amendment thereof) and the Prospectus (exclusive of any supplement thereto), there shall not have been any change in the capital stock or long-term debt of the Company or any change or development involving a change, whether or not arising from transactions in the ordinary course of business, in the business, condition (financial or otherwise), results of operations, shareholders' equity, properties or prospects of the Company, taken as a whole, including but not limited to the occurrence of any fire, flood, storm, explosion, accident, act of war or terrorism or other calamity, the effect of which, in any such case described above, is, in the reasonable judgment of the Underwriters, so material and adverse as to make it impracticable or inadvisable to proceed with the sale of Securities or Offering as contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) The Securities are registered under the Exchange Act and, as of the Closing Date, the Securities shall be listed and admitted and authorized for trading on the Nasdaq Capital Market and satisfactory evidence of such action shall have been provided to the Underwriters. The Company shall have taken no action designed to terminate, or likely to have the effect of terminating, the registration of the Securities under the Exchange Act or delisting or suspending the Securities from trading on the Nasdaq Capital Market, nor will the Company have received any information suggesting that the Commission or the Nasdaq Capital Market is contemplating terminating such registration or listing. The Firm Shares shall be DTC eligible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) FINRA shall have confirmed that it has not raised any objection with respect to the fairness and reasonableness of the underwriting terms and arrangements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any federal, state or foreign governmental or regulatory authority that would, as of the Closing Date, prevent the issuance or sale of the Securities; and no injunction or order of any federal, state or foreign court shall have been issued that would, as of the Closing Date, prevent the issuance or sale of the Securities or materially and adversely affect or potentially materially and adversely affect the business or operations of the Company.

**10. <u>Indemnification</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company agrees to indemnify and hold harmless (to the fullest extent permitted by applicable law) the Underwriters and each Person, if any, who controls the Underwriters within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, against any losses, liabilities, claims, damages and expenses whatsoever, as incurred (including but not limited to reasonable attorneys' fees and any and all reasonable expenses whatsoever, incurred in investigating, preparing or defending against any litigation, commenced or threatened, or any claim whatsoever, and any and all amounts paid in settlement of any claim or litigation), joint or several, to which they or any of them may become subject under the Act, the Exchange Act or otherwise (including in settlement of any litigation if such settlement is effected with the written consent of the Company), insofar as such losses, liabilities, claims, damages or expenses (or actions in respect thereof) arise out of or are based upon: (i) an untrue statement or alleged untrue statement of a material fact contained in (A) the Registration Statement, including the information deemed to be a part of the Registration Statement at the time of effectiveness and at any subsequent time pursuant to Rules 430A and 430B of the Regulations, any Preliminary Prospectus, the General Disclosure Package, the Prospectus, or any amendment or supplement to any of them or (B) any Issuer Free Writing Prospectus or any materials or information provided to investors by, or with the approval of, the Company in connection with the marketing of the offering of the Securities ("**Marketing Materials**"), including any road show or investor presentations made to investors by the Company (whether in person or electronically), or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading and will reimburse such indemnified party for any legal or other expenses reasonably incurred by it in connection with investigations or defending against such losses, liabilities, claims, damages or expenses (or actions in respect thereof); or (ii) in whole or in part upon any inaccuracy in the representations and warranties of the Company contained herein; or (iii) in whole or in part upon any failure of the Company to perform its obligations hereunder; *provided, however*, that the Company shall not be liable in any such case to the extent that any such loss, liability, claim, damage or expense (or action in respect thereof) arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, any Preliminary Prospectus, the General Disclosure Package, the Prospectus, or any such amendment or supplement to any of them, or any Issuer Free Writing Prospectus or any Marketing Materials in reliance upon and in conformity with the Underwriters' Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Underwriters agree to indemnify and hold harmless the Company, each of the directors of the Company, each of the officers of the Company who shall have signed the Registration Statement, and each other Person, if any, who controls the Company within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, against any losses, liabilities, claims, damages and expenses whatsoever, as incurred (including but not limited to reasonable attorneys' fees and any and all reasonable expenses whatsoever, incurred in investigating, preparing or defending against any litigation, commenced or threatened, or any claim whatsoever, and any and all amounts paid in settlement of any claim or litigation), joint or several, to which they or any of them may become subject under the Act, the Exchange Act or otherwise (including in settlement of any litigation if such settlement is effected with the written consent of the Underwriters), insofar as such losses, liabilities, claims, damages or expenses (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, at the time of effectiveness and at any subsequent time pursuant to Rules 430A and 430B of the Regulations, any Preliminary Prospectus, the General Disclosure Package, the Prospectus, any amendment or supplement to any of them or any Marketing Materials, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse such indemnified party for any legal or other expenses reasonably incurred by it in connection with investigating or defending against such losses, liabilities, claims, damages or expenses (or actions in respect thereof), in each case to the extent, but only to the extent, that any such loss, liability, claim, damage or expense (or action in respect thereof) arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made in the Underwriters' Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice of any claim or the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify each party against whom indemnification is to be sought in writing thereof (but the failure so to notify an indemnifying party shall not relieve the indemnifying party from any liability which it may have under this <u>Section 9</u> to the extent that it is not materially prejudiced as a result thereof). In case any such claim or action is brought against any indemnified party, and it so notifies an indemnifying party thereof, the indemnifying party will be entitled to participate at its own expense in the defense of such action, and to the extent it may elect by written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof with counsel satisfactory to such indemnified party. Notwithstanding the foregoing, the indemnified party or parties shall have the right to employ its or their own counsel in any such case, but the fees and expenses of such counsel shall be at the expense of such indemnified party or parties unless: (i) the employment of such counsel shall have been authorized in writing by one of the indemnifying parties in connection with the defense of such action; (ii) the indemnifying parties have not employed counsel to have charge of the defense of such action within a reasonable time after notice of the claim or the commencement of the action; (iii) the indemnifying party does not diligently defend the action after assumption of the defense; or (iv) such indemnified party or parties shall have reasonably concluded that a conflict may arise between the positions of the indemnifying party and the indemnified party, or any of them, in conducting the defense of any such action or there may be legal defenses available to it or them which are different from or additional to those available to any of the indemnifying parties (in which case the indemnifying parties shall not have the right to direct the defense of such action on behalf of the indemnified party or parties), in any of which events such fees and expenses shall be borne by the indemnifying parties and shall be paid as incurred. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) of the indemnified party or parties unless such separate representations are required under applicable ethics rules that govern the representations of the indemnified party or parties by such legal counsel. In the case of any separate firm for the Underwriters and such control persons and affiliates of any Underwriters, such firm shall be designated in writing by the Underwriters. In the case of more than one separate firm (in addition to any local counsel) for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company. No indemnifying party shall, without the prior written consent of the indemnified parties, effect any settlement or compromise of, or consent to the entry of judgment with respect to, any pending or threatened claim, investigation, action or proceeding in respect of which indemnity or contribution may be or could have been sought by an indemnified party under this <u>Section 9</u> or <u>Section 10</u> hereof (whether or not the indemnified party is an actual or potential party thereto), unless (v) such settlement, compromise or judgment (A) includes an unconditional release of the indemnified party from all liability arising out of such claim, investigation, action or proceeding and (B) does not include a statement as to or an admission of fault, culpability or any failure to act, by or on behalf of the indemnified party, and (vi) the indemnifying party confirms in writing its indemnification obligations hereunder with respect to such settlement, compromise or judgment.

**11. <u>Contribution</u>**. In order to provide for contribution in circumstances in which the indemnification provided for in <u>Section 9</u> is for any reason held to be unavailable from any indemnifying party or is insufficient to hold harmless a party indemnified thereunder, the Company and the Underwriters shall contribute to the aggregate losses, claims, damages, liabilities and expenses of the nature contemplated by such indemnification provision (including any investigation, legal and other expenses incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any claims asserted, but after deducting in the case of losses, claims, damages, liabilities and expenses suffered by the Company, any contribution received by the Company from Persons, other than the Underwriters, who may also be liable for contribution, including Persons who control the Company within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, officers of the Company who signed the Registration Statement and directors of the Company), as incurred, to which the Company and one or more of the Underwriters may be subject, in such proportions as is appropriate to reflect the relative benefits received by the Company on the one hand and the Underwriters on the other hand from the Offering and sale of the Securities or, if such allocation is not permitted by applicable law, in such proportions as are appropriate to reflect not only the relative benefits referred to above but also the relative fault of the Company and the Underwriters in connection with the statements or omissions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative benefits received by the Company and the Underwriters shall be deemed to be in the same proportion as (i) the total proceeds from the Offering (net of underwriting discount and commission but before deducting expenses) received by the Company bears to (ii) the underwriting discount and commissions received by the Underwriters, in each case as set forth in the table on the cover page of the Prospectus. The relative fault of the Company and the Underwriters shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or the Underwriters and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Underwriters agree that it would not be just and equitable if contribution pursuant to this <u>Section 10</u> were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to above in this <u>Section 10</u>. The aggregate amount of losses, liabilities, claims, damages and expenses incurred by an indemnified party and referred to above in this <u>Section 10</u> shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in investigating, preparing or defending against any litigation, or any investigation or proceeding by any judicial, regulatory or other legal or governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue or alleged untrue statement or omission or alleged omission. Notwithstanding the provisions of this <u>Section 10</u>: (iii) no Underwriter shall be required to contribute any amount in excess of the underwriting discounts applicable to the Securities underwritten by it and distributed to the public and (iv) no Person guilty of fraudulent misrepresentation (within the meaning of Section 12(f) of the Act) shall be entitled to contribution from any Person who was not guilty of fraudulent misrepresentation (within the meaning of Section 12(f) of the Act). For purposes of this <u>Section 10</u>, each Person, if any, who controls an Underwriter within the meaning of Section 15 of the Act or Section 20 of the Exchange Act shall have the same rights to contribution as such Underwriter, and each Person, if any, who controls the Company within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, each officer of the Company who shall have signed the Registration Statement and each director of the Company shall have the same rights to contribution as the Company, subject in each case to clauses (iii) and (iv) of the immediately preceding sentence. Any party entitled to contribution will, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or parties, notify each party or parties from whom contribution may be sought, but the omission to so notify such party or parties shall not relieve the party or parties from whom contribution may be sought from any obligation it or they may have under this <u>Section 10</u> or otherwise. As used herein, a "**Person**" refers to an individual or entity.

**12. <u>Effective Date of Agreement; Termination; Defaulting Underwriters</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement shall become effective upon the later of: (i) receipt by the Underwriters and the Company of notification of the effectiveness of the Registration Statement or (ii) the execution of this Agreement. Notwithstanding any termination of this Agreement, the provisions of this <u>Section 12</u> and of <u>Sections 1</u>, <u>4</u>, <u>6</u>, <u>10</u>, <u>12</u>, <u>16</u> and <u>17</u> shall remain in full force and effect at all times after the execution hereof to the extent they are in compliance with FINRA Rule 5110(g)(5).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Underwriters shall have the right to terminate this Agreement at any time prior to the consummation of the Closing if: (i) any domestic or international event or act or occurrence has materially disrupted, or in the reasonable opinion of the Underwriters will in the immediate future materially disrupt, the market for the Company's securities or securities in general; or (ii) trading on the Nasdaq Capital Market has been suspended or made subject to material limitations, or minimum or maximum prices for trading have been fixed, or maximum ranges for prices for securities have been required, on the Nasdaq Capital Market or by order of the Commission, FINRA or any other governmental authority having jurisdiction; or (iii) a banking moratorium has been declared by any state or federal authority or any material disruption in commercial banking or securities settlement or clearance services has occurred; or (iv) (A) there has occurred any outbreak or escalation of hostilities or acts of terrorism involving the United States or there is a declaration of a national emergency or war by the United States or (B) there has been any other calamity or crisis or any change in political, financial or economic conditions, if the effect of any such event in (A) or (B), in the reasonable judgment of the Underwriters, is so material and adverse that such event makes it impracticable or inadvisable to proceed with the offering, sale and delivery of the Firm Shares on the terms and in the manner contemplated by the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any notice of termination pursuant to this <u>Section 12</u> shall be in writing and delivered in accordance with <u>Section 14</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If, on the Closing Date or any Additional Closing Date, as the case may be, any one or more of the Underwriters shall fail or refuse to purchase the Shares that it has or they have agreed to purchase hereunder on such date, and the aggregate number of the Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase is not more than one-tenth (10%) of the aggregate number of the Shares to be purchased on such date, the other Underwriters shall be obligated severally in the proportions that the number of Firm Shares set forth opposite their respective names in <u>Schedule A</u> bears to the aggregate number of Firm Shares set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as the Representative may specify, to purchase the Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date; *provided* that, in no event shall the number of Shares that any Underwriter has agreed to purchase pursuant to this Agreement be increased pursuant to this Section 11(d) by an amount in excess of one-ninth (1/9) of such number of Shares without the written consent of such Underwriter. If, on the Closing Date, any Underwriter or Underwriters shall fail or refuse to purchase Firm Shares and the aggregate number of Firm Shares with respect to which such default occurs is more than one-tenth (10%) of the aggregate number of Firm Shares to be purchased on such date, and arrangements satisfactory to the Representative and the Company for the purchase of such Firm Shares are not made within thirty six (36) hours after such default, this Agreement shall terminate without liability on the part of any non-defaulting Underwriter or the Company. In any such case, either the Representative or the Company shall have the right to postpone the Closing Date, but in no event for longer than seven days, in order that the required changes, if any, in the Registration Statement, in the Pricing Disclosure Package, in the Final Prospectus or in any other documents or arrangements may be effected. If, on an Additional Closing Date, any Underwriter or Underwriters shall fail or refuse to purchase Option Shares and the aggregate number of Option Shares with respect to which such default occurs is more than one-tenth (10%) of the aggregate number of Option Shares to be purchased on such Additional Closing Date, the non-defaulting Underwriters shall have the option to (i) terminate their obligation hereunder to purchase the Option Shares to be sold on such Additional Closing Date or (ii) purchase not less than the number of Option Shares that such non-defaulting Underwriters would have been obligated to purchase in the absence of such default. Any action taken under this paragraph shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If this Agreement shall be terminated pursuant to any of the provisions hereof (other than pursuant to <u>Section 11(b)</u> hereof), or if the sale of the Securities provided for herein is not consummated because any condition to the obligations of the Underwriters set forth herein is not satisfied or because of any refusal, inability or failure on the part of the Company to perform any agreement herein or comply with any provision hereof, the Company will, subject to demand by the Underwriters, reimburse the Underwriters for only those documented out-of-pocket expenses (including the reasonable fees and expenses of their counsel), actually incurred by the Underwriters in connection herewith as allowed under FINRA Rule 5110 less any amounts previously paid by the Company); *provided, however,* that all such expenses, including the costs and expenses set forth in <u>Section 6(c)</u> which were actually paid, shall not exceed accountable expenses actually incurred in the aggregate, including any advances.

**13. <u>Survival of Representations and Agreements</u>**. All representations, warranties, covenants and agreements of the Company and the Underwriters contained in this Agreement or in certificates of officers of the Company submitted pursuant hereto, including, without limitation, the agreements contained in <u>Sections 6</u>, <u>15</u> and <u>16</u>, the indemnity agreements contained in <u>Section 9</u> and the contribution agreements contained in <u>Section 10</u>, shall remain operative and in full force and effect regardless of any investigation made by or on behalf of the Underwriters or any controlling Person thereof or by or on behalf of the Company, any of its officers or directors or any controlling Person thereof, and shall survive delivery of and payment for the Securities to and by the Underwriters. The representations and warranties contained in <u>Section 2</u> and the covenants and agreements contained in <u>Sections 4</u>, <u>6, 9</u>, <u>10</u>, <u>15</u> and <u>16</u> shall survive any termination of this Agreement, including termination pursuant to <u>Sections 11</u>. For the avoidance of doubt, in the event of termination the Underwriters will receive only out-of-pocket accountable expenses actually incurred subject to the limit in <u>Section 11(d)</u>, in compliance with FINRA Rules 5110(g)(5)(A), 5110(g)(5)(B)(i) and 5110(g)(5)(B)(ii).

**14. <u>Notices</u>**. All communications hereunder, except as may be otherwise specifically provided herein, shall be in writing, and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if sent to the Representative, shall be mailed, delivered, or emailed, to:

R.F. Lafferty & Co., Inc.

40 Wall Street, 27th Floor<br> New York, NY 10005

Attention: Robert Hackel

Email: rhackel@rflafferty.com

with a copy to Underwriter's Counsel at:

VCL Law LLP

1945 Old Gallows Rd., Suite 260

Vienna, VA 22182

Attention: Fang Liu, Partner

Email: fliu@vcllegal.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if sent to the Company, shall be mailed, delivered, or emailed, to:

Idea Tech Holding Limited

Room 721, 7/F Cyberport One, 100 Cyberport Road

Pokfulam, Hong Kong

Attention: Chun Ki Wan

Email: [ ]

with a copy to the Company's Counsel at:

Ortoli Rosenstadt LLP

366 Madison Avenue, 3rd Floor<br> New York, NY 10017

Attention: Yarona Yieh, Esq.

Email: yly@orllp.legal

**15.** <u>Parties; Limitation of Relationship</u>. This Agreement shall inure solely to the benefit of, and shall be binding upon, the Underwriters, the Company and the controlling Persons, directors, officers, employees and agents referred to in <u>Sections 9</u> and <u>10</u> hereof, and their respective successors and assigns, and no other Person shall have or be construed to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Agreement or any provision herein contained. This Agreement and all conditions and provisions hereof are intended to be for the sole and exclusive benefit of the parties hereto and such Persons and their respective successors and assigns, and not for the benefit of any other Person. The term "**Successors and Assigns**" shall not include a purchaser, in its capacity as such, of Securities from the Underwriter.

**16.** <u>Governing Law</u>. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. Each of the parties hereto hereby submits to the exclusive jurisdiction of the Federal and state courts in the Borough of Manhattan in The City of New York (each, a "**New York Court**") in any suit or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. Each of the parties hereto irrevocably waives any objection to the laying of venue of any suit or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby in the New York Courts, and irrevocably waives and agrees not to plead or claim in any such court that any such suit or proceeding in any such court has been brought in an inconvenient forum. The Company irrevocably appoints Cogency Global Inc. as its authorized agent (the "**Authorized Agent**") in the Borough of Manhattan in The City of New York upon which process may be served in any such suit or proceeding, and agrees that service of process in any manner permitted by applicable law upon such agent shall be deemed in every respect effective service of process in any manner permitted by applicable law upon the Company in any such suit or proceeding. The Company further agrees to take any and all actions as may be necessary to maintain such designation and appointment of such agent in full force and effect for a period of five years from the date of this Agreement.

**17.** <u>Entire Agreement</u>. This Agreement, together with the schedules and annexes attached hereto and as the same may be amended from time to time in accordance with the terms hereof, contains the entire agreement among the parties hereto relating to the subject matter hereof and there are no other or further agreements outstanding not specifically mentioned herein. This Agreement supersedes any prior agreements or understandings among or between the parties hereto.

**18.** <u>Severability</u>. If any term or provision of this Agreement or the performance thereof shall be invalid or unenforceable to any extent, such invalidity or unenforceability shall not affect or render invalid or unenforceable any other provision of this Agreement and this Agreement shall be valid and enforceable to the fullest extent permitted by law.

**19.** <u>Amendment</u>. This Agreement may only be amended by a written instrument executed by each of the parties hereto.

**20.** <u>Waiver, etc.</u> The failure of any of the parties hereto to at any time enforce any of the provisions of this Agreement shall not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Agreement or any provision hereof or the right of any of the parties hereto to thereafter enforce each and every provision of this Agreement. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Agreement shall be effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver may be sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach, non-compliance or non-fulfillment. The parties to this Agreement hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal suit, action or proceeding arising out of or relating to this Agreement, the Registration Statement, the General Disclosure Package, the Prospectus, the offering of the Shares or the transactions contemplated hereby

**21.** <u>No Fiduciary Relationship</u>. The Company hereby acknowledges that the Underwriters are acting solely as Underwriters in connection with the offering of the Company's Securities. The Company further acknowledges that the Underwriters are acting pursuant to a contractual relationship created solely by this Agreement entered into on an arm's-length basis and in no event do the parties intend that the Underwriters act or be responsible as a fiduciary to the Company, its management, shareholders, creditors or any other person in connection with any activity that the Underwriters may undertake or have undertaken in furtherance of the offering of the Company's Securities, either before or after the date hereof. The Underwriters hereby expressly disclaim any fiduciary or similar obligations to the Company, either in connection with the transactions contemplated by this Agreement or any matters leading up to such transactions, and the Company hereby confirms its understanding and agreement to that effect. The Company hereby further confirms its understanding that the Underwriters have not assumed an advisory or fiduciary responsibility in favor of the Company with respect to the Offering contemplated hereby or the process leading thereto, including, without limitation, any negotiation related to the pricing of the Securities; and the Company has consulted its own legal and financial advisors to the extent it has deemed appropriate in connection with this Agreement and the Offering. The Company and the Underwriters agree that they are each responsible for making their own independent judgments with respect to any such transactions, and that any opinions or views expressed by the Underwriters to the Company regarding such transactions, including but not limited to any opinions or views with respect to the price or market for the Company's securities, do not constitute advice or recommendations to the Company. The Company hereby waives and releases, to the fullest extent permitted by law, any claims that the Company may have against the Underwriters with respect to any breach or alleged breach of any fiduciary or similar duty to the Company in connection with the transactions contemplated by this Agreement or any matters leading up to such transactions.

**22.** <u>Counterparts</u>. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, and all such counterparts shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or other electronic transmission shall constitute valid and sufficient delivery thereof.

**23.** <u>Headings</u>. The headings herein are inserted for convenience of reference only and are not intended to be part of, or to affect the meaning or interpretation of, this Agreement.

**24.** <u>Time is of the Essence</u>. Time shall be of the essence of this Agreement. As used herein, the term "**Business Day**" shall mean any day other than a Saturday, Sunday or any day on which any of the major U.S. stock exchanges are not open for business.

*[Signature Page Follows]*

If the foregoing correctly sets forth your understanding, please so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement among us.

---

| | | |
|:---|:---|:---|
| Very truly yours, | Very truly yours, | Very truly yours, |
| **Idea Tech Holding Limited** | **Idea Tech Holding Limited** | **Idea Tech Holding Limited** |
| By: |  |  |
|  | Name: | Chun Ki Wan |
|  | Title: | Chief Executive Officer |

---

Accepted by the Representative

as of the date first written above

Acting on behalf of itself and as Representative of the Underwriters named in <u>Schedule A</u> hereto

---

| | | |
|:---|:---|:---|
| **R.F. Lafferty & Co., Inc.** | **R.F. Lafferty & Co., Inc.** | **R.F. Lafferty & Co., Inc.** |
| By: |  |  |
|  | Name: | Robert Hackel |
|  | Title: | Chief Operating Officer |

---

*[Signature Page to Underwriting Agreement]*

 

**SCHEDULE A**

Underwriters

---

| | | | |
|:---|:---|:---|:---|
| Underwriters | Closing<br> Securities | Closing<br> Securities if the<br> Maximum<br> Over-Allotment<br> Option is<br> Exercised | Closing<br> Purchase Price |
| R.F. Lafferty & Co., Inc. |  |  |  |
| **Total** |  |  |  |

---

**SCHEDULE B**

Lock-Up Parties

---

| |
|:---|
| **Name** |
| Xiaoke Luo |
| Chun Ki Wan |
| Weiqing He |
| Ho Kit Hui |
| Jinyu Yang |
| Yiyun Wang |
| Chuanping Pan |
| Chung Shun Lee |
| DS Premium Healthcare Limited |
| Jumbo Will Limited |
| Ultimate Honour Group Limited |

---

**ANNEX I**

**Idea Tech Holding Limited**

**OFFICERS' CERTIFICATE**

[ ], 2025

The undersigned, Chun Ki Wan, Chief Executive Officer, and Weiqing He , Chief Financial Officer, of Idea Tech Holding Limited, a Cayman Islands exempted company (the "**Company"**), pursuant to Section 9(d) of the Underwriting Agreement, dated as of [•], by and between the Company and R.F. Lafferty & Co., Inc. as representative of the several underwriters listed on <u>Schedule A</u> thereto (the "**Underwriting Agreement**"), do hereby certify, each in his or her capacity as an officer of the Company, and not individually and without personal liability, on behalf of the Company, as follows:

1. Such officer has carefully examined the Registration Statement, the General Disclosure Package, any Permitted Free Writing Prospectus and the Prospectus and, in his or her opinion, the Registration Statement and each amendment thereto, as of [●] p.m. EST, [Date] (the "**Applicable Time**") and as of the Closing Date did not include any untrue statement of a material fact and did not omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, and the General Disclosure Package, as of the Applicable Time and as of the Closing Date, any Permitted Free Writing Prospectus as of its date and as of the Closing Date, the Prospectus and each amendment or supplement thereto, as of the respective date thereof and as of the Closing Date, did not include any untrue statement of a material fact and did not omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances in which they were made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Subsequent to the respective dates as of which information is given in the Registration Statement, the General Disclosure Package, or the Prospectus, there has not been any Material Adverse Changes or any development involving a prospective Material Adverse Change, whether or not arising from transactions in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. To the best of his or her knowledge after reasonable investigation, as of the Closing Date, the representations and warranties of the Company in the Underwriting Agreement are true and correct in all material respects (except for those representations and warranties qualified as to materiality, which shall be true and correct in all respects and except for those representations and warranties which refer to facts existing at a specific date, which shall be true and correct as of such date) and the Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied under the Underwriting Agreement at or prior to the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. To the best of his or her knowledge after reasonable investigation, as of the Closing Date, the Company has not sustained any material loss or interference with its businesses, whether or not covered by insurance, or from any labor dispute or any legal or governmental proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. There are no pro forma or as adjusted financial statements that are required to be included in the Registration Statement and the Prospectus pursuant to the Regulations which are not so included.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. No stop order or other order suspending the effectiveness of the Registration Statement or any part thereof or any amendment thereof or the qualification of the Securities for offering or sale, nor suspending or preventing the use of the General Disclosure Package, any Permitted Free Writing Prospectus and the Prospectus, has been issued, and no proceeding for that purpose has been instituted or, to the best of his knowledge, is contemplated by the Commission or any state or regulatory body.

Capitalized terms used herein but not defined herein shall have the meanings ascribed to them in the Underwriting Agreement. This certificate may be executed in one or more counterparts, all of which together shall be deemed to be one and the same instrument.

*[Signature Page Follows]*

 

**IN WITNESS WHEREOF**, I have, on behalf of the Company, signed this certificate as of the date first written above.

 <br> Name: Chun Ki Wan <br> Title: Chief Executive Officer

 <br> Name: Weiqing He <br> Title: Chief Financial Officer

*[Signature Page of Officers' Certificate]*

**ANNEX II**

**Idea Tech Holding Limited**

**SECRETARY'S CERTIFICATE**

[ ], 2025

The undersigned, [●], hereby certifies that he/she is the duly elected, qualified, and acting Secretary of Idea Tech Holding Limited, a Cayman Islands exempted company (the "**Company**"), and that as such he/she is authorized to execute and deliver this certificate in the name and on behalf of the Company. Pursuant to Section 9(e) of the Underwriting Agreement, dated as of [•], by R.F. Lafferty & Co., Inc. as representative of the several underwriters listed on <u>Schedule A</u> thereto (the "**Underwriting Agreement**"), the undersigned further certifies in his/her capacity as Secretary of the Company and without personal liability, on behalf of the Company, the items set forth below. Capitalized terms used herein but not defined herein shall have the meanings ascribed to them in the Underwriting Agreement.

1. Attached hereto as <u>Exhibit A</u> are true and complete copies of the resolutions adopted by the Board of Directors of the Company (the "**Board**") either at a meeting or meetings properly held or by the unanimous written consent of each member of the Company's Board and any committee of or designated by the Company's Board relating to the public offering contemplated by the Underwriting Agreement: all of such resolutions were duly adopted, have not been amended, modified or rescinded and remain in full force and effect; and such resolutions are the only resolutions adopted by the Board or by any committee of or designated by the Board relating to the public offering contemplated by the Underwriting Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Attached hereto as <u>Exhibit B</u> is a true, correct, and complete copy of the Certificate of Incorporation of the Company, together with any and all amendments thereto. No action has been taken to further amend, modify, or repeal such charter documents, which remain in full force and effect in the attached form as of the date hereof. No action has been taken by the Company, its shareholders, directors or officers in contemplation of the filing of any such amendment or other document or in contemplation of the liquidation or dissolution of the Company prior to the consummation of the transactions contemplated by the Underwriting Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Attached hereto as <u>Exhibit C</u> is a true, correct, and complete copy of the memorandum and articles of association of the Company and any and all amendments thereto. No action has been taken to further amend, modify, or repeal such memorandum and articles of association, which remain in full force and effect in the attached form as of the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Attached hereto as <u>Exhibit D</u> is a true and complete copy of a Certificate of Good Standing, dated [Date], by the Registrar of Companies in the Cayman Islands, relating to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Each person listed below has been duly elected or appointed to the positions indicated opposite its name and is duly authorized to sign the Underwriting Agreement and each of the documents in connection therewith on behalf of the Company, and the signature appearing opposite such person's name below is its genuine signature.

---

| | | |
|:---|:---|:---|
| **<u>Name</u>** | **<u>Position</u>** | **<u>Signature</u>** |
| Chun Ki Wan | Chief Executive Officer | |
| Weiqing He | Chief Financial Officer | |

---

This certificate may be executed in one or more counterparts, all of which together shall be deemed to be one and the same instrument.

*[Signature Page Follows]*

**IN WITNESS WHEREOF**, the undersigned has signed this certificate as of the date first written above.

 <br> Name: <br> Title: Secretary

*[Signature Page of Secretary' Certificate]*

**ANNEX III**

**Idea Tech Holding Limited**

**CHIEF FINANCIAL OFFICER'S CERTIFICATE**

[ ], 2025

The undersigned, Weiqing He, hereby certifies that he is the duly elected, qualified, and acting Chief Financial Officer, of Idea Tech Holding Limited, a Cayman Islands exempted company (the "**Company**"), and that as such he is authorized to execute and deliver this certificate in the name and on behalf of the Company. Pursuant to Section 9(f) of the Underwriting Agreement, dated as of [•], by R.F. Lafferty & Co., Inc. as representative of the several underwriters listed on <u>Schedule A</u> thereto (the "**Underwriting Agreement**"), the undersigned further certifies, solely in the capacity as an officer of the Company for and on behalf of the Company as set forth below.

1. I am the Chief Financial Officer of the Company and have been duly appointed to such position as of the date hereof.

2. I am providing this certificate in connection with the offering of the securities described in the Registration Statement and the Prospectus.

3. I am familiar with the accounting, operations, records systems and internal controls of the Company and have participated in the preparation of the Registration Statement and the Prospectus.

4. The Company Financial Statements present fairly, in all material respects, the financial condition of the Company and its subsidiaries and their results of operations for the periods presented in the Registration Statement and the Prospectus.

5. I have reviewed the disclosure in the Registration Statement and the Prospectus, the financial and operating information and data identified and circled by VCL Law LLP in the Registration Statement and the Prospectus dated [●], attached hereto as <u>Exhibit A</u>, and to the best of my knowledge such information is correct, complete and accurate in all material respects.

Capitalized terms used herein but not defined herein shall have the meanings ascribed to them in the Underwriting Agreement.

*[Signature Page Follows]*

**IN WITNESS WHEREOF**, the undersigned has signed this certificate as of the date first written above.

---

| | |
|:---|:---|
| **Idea Tech Holding Limited** | **Idea Tech Holding Limited** |
| By: |  |
| Name: | Weiqing He |
| Title: | Chief Financial Officer |

---

*[Signature Page of CFO's Certificate]*

 

 

**ANNEX IV**

Form of Lock-Up Agreement

[●], 2025

R.F. Lafferty & Co., Inc.

40 Wall Street, 27th Floor<br> New York, NY 10005

Ladies and Gentlemen:

The undersigned understands R.F. Lafferty & Co., Inc. (the "**Underwriter**") propose to enter into an Underwriting Agreement (the "**Underwriting Agreement**") with Idea Tech Holding Limited, a Cayman Islands exempted Company (the "**Company**"), providing for the initial public offering in the United States (the "**Initial Public Offering**") of a certain number of ordinary shares, par value $0.0001 per share (the "**Securities**"). For purposes of this letter agreement, "Shares" shall mean shares of the Company's ordinary shares.

To induce the Underwriter to continue its efforts in connection with the Public Offering, the undersigned hereby agrees that, without the prior written consent of the Underwriter, the undersigned will not, for twelve (12) months, for our directors, officers, and holders owning 5% or more of our outstanding Shares, starting from the date of commencement of sales of this Offering (the "**Lock-Up Period**"), (A) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, make any short sale, or otherwise transfer or dispose of, directly or indirectly, any Shares or any securities convertible into or exercisable or exchangeable for or represent the right to receive Shares, whether now owned or hereafter acquired by the undersigned (collectively, the "**Lock-Up Securities**"); (B) enter into any swap or other agreement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Lock-Up Securities, whether any such transaction described in clause (A) above or this clause (B) is to be settled by delivery of Shares or such other securities, in cash or otherwise; (C) make any written demand for or exercise any right with respect to the registration of any Shares or any security convertible into or exercisable or exchangeable for Shares; or (D) publicly disclose the intention to do any of the foregoing.

Notwithstanding the foregoing, and subject to the conditions below, the undersigned may transfer Lock-Up Securities without the prior written consent of the Underwriter in connection with (A) transactions relating to Lock-Up Securities acquired in open market transactions after the completion of the Initial Public Offering; (B) transfers of Lock-Up Securities as a *bona fide* gift, by will or intestacy or to a family member or trust for the benefit of the undersigned and/or one or more family members (for purposes of this lock-up agreement, "**family member**" means any relationship by blood, marriage or adoption, not more remote than first cousin); (C) transfers of Lock-Up Securities to a charity or educational institution or other not-for-profit organization; (D) if the undersigned, directly or indirectly, controls a corporation, partnership, limited liability company or other business entity, any transfers of Lock-Up Securities to any such corporation, partnership, limited liability company or other business entity, or any shareholder, partner or member of, or owner of similar equity interests in, the same, as the case may be; (E) a sale or surrender to the Company of any options or Shares of the Company underlying options in order to pay the exercise price or taxes associated with the exercise of options; or (F) transfers or distributions pursuant to any *bona fide* third-party tender offer, merger, acquisition, consolidation or other similar transaction made to all holders of the Company's Shares involving a Change of Control of the Company, *provided* that in the event that such tender offer, merger, acquisition, consolidation or other such transaction is not completed, the Lock-Up Securities held by the undersigned shall remain subject to the provisions of this lock-up agreement; *provided* that in the case of any transfer pursuant to the foregoing clauses (B), (C) or (D), (i) any such transfer shall not involve a disposition for value, (ii) each transferee shall sign and deliver to the Underwriter a lock-up agreement substantially in the form of this lock-up agreement and (iii) no filing under Section 16(a) of the U.S. Securities Exchange Act of 1934, as amended shall be required or shall be voluntarily made (collectively, "**Permitted Transfers**"). For purposes of this paragraph, the term "**Change of Control**" shall mean any transaction or series of related transactions pursuant to which any "<u>person</u>" or "<u>group</u>" (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) becomes the "beneficial owner" (as such term is defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the total voting power of the Shares of the Company on a fully diluted basis. The undersigned also agrees and consents to the entry of stop transfer instructions with the Company's transfer agent and registrar against the transfer of the undersigned's Lock-Up Securities except in compliance with this lock-up agreement.

The undersigned agrees that, prior to engaging in any transaction or taking any other action that is subject to the terms of this lock-up agreement (for the avoidance of doubt, excluding any transaction or other action in connection with a Permitted Transfer) during the period from the date hereof to and including the 15 days following the expiration of the initial Lock-Up Period, the undersigned will give notice thereof to the Company and will not consummate any such transaction or take any such action unless it has received written confirmation from the Company that the Lock-Up Period has expired.

The undersigned agrees that (A) the foregoing restrictions shall be equally applicable to any issuer-directed or "**friends and family**" Shares that the undersigned may purchase in the Initial Public Offering, (B) at least three (3) business days before the effective date of any release or waiver of the foregoing restrictions in connection with a transfer of Lock-Up Securities, the Underwriter will notify the Company of the impending release or waiver. Any release or waiver granted by the Underwriter hereunder to any such officer or director shall only be effective two (2) business days after the publication date of a press release by the Company for such release or waiver. The provisions of this paragraph will not apply if (A) the release or waiver is effected solely to permit a transfer of Lock-Up Securities not for consideration or in connection with any other Permitted Transfer and (B) the transferee has agreed in writing to be bound by a lock-up agreement substantially in the form of this lock-up agreement.

The undersigned agrees that except as set forth in this Lock-Up Agreement, there are no and will not have any other agreement or arrangement, either verbal or in writing, with any other individuals or entities, including but not limited to shareholders, friends and family, and other third parties, to circumvent or has an effect of circumventing the obligations set forth in this Lock-Up Agreement.

No provision in this agreement shall be deemed to restrict or prohibit the exercise, exchange or conversion by the undersigned of any securities exercisable or exchangeable for or convertible into Shares, as applicable; *provided* that the undersigned does not transfer the Shares acquired on such exercise, exchange or conversion during the Lock-Up Period, unless in connection with a Permitted Transfer or in a transfer otherwise permitted pursuant to the terms of this lock-up agreement. In addition, no provision herein shall be deemed to restrict or prohibit the entry into or modification of a so-called "**10b5-1**" plan at any time (other than the entry into or modification of such a plan in such a manner as to cause the sale of any Lock-Up Securities within the Lock-Up Period).

The undersigned understands that the Company and the Underwriter are relying upon this lock-up agreement in proceeding toward consummation of the Initial Public Offering. The undersigned further understands that this lock-up agreement is irrevocable and shall be binding upon the undersigned's heirs, legal Underwriters, successors and assigns.

The undersigned understands that, if the Underwriting Agreement does not become effective, or if the Underwriting Agreement (other than the provisions thereof which survive termination) shall terminate or be terminated prior to payment for and delivery of the Shares to be sold thereunder, then this lock-up agreement shall be void and of no further force or effect.

Whether or not the Initial Public Offering actually occurs depends on a number of factors, including market conditions. The Initial Public Offering will only be made pursuant to an Underwriting Agreement, the terms of which are subject to negotiation between the Company and the Underwriter.

This lock-up agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflict of laws principles thereof. Delivery of a signed copy of this lock-up agreement by facsimile or e-mail/.pdf transmission shall be effective as the delivery of the original hereof.

*[Signature Page Follows]*

 

---

| |
|:---|
| Very truly yours, |
| By: |
| Name: |
| Address: |

---

*[Signature Page of Lock-up Agreement]*

## Exhibit 5.1

**Exhibit 5.1**

![](ex5-1_001.jpg)

---

| | |
|:---|:---|
| **Idea Tech Holding Limited** | **D +852 3656 6054** |
|  | **E nathan.powell@ogier.com** |
|  | Reference: NMP/JTC/509631.00001 |
|  | 8 August 2025 |

---

Dear Sirs

**Idea Tech 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 Ordinary Shares (as defined below) of the Company (the **Public 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 representative of the underwriters to purchase up to 300,000 additional Ordinary Shares representing fifteen percent (15%) of the Public Offering Shares sold in the Offering (the **Over-allotment Shares**, collectively with the Public Offering Shares, the **IPO Shares**).

We are furnishing this opinion as Exhibits 5.1 and 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 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 15 July 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 registered with the Registrar at incorporation (the **Memorandum and Articles**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the form of the amended and restated memorandum and articles of association of the Company which shall become effective prior to the
closing of the Offering;

---

| | | | |
|:---|:---|:---|:---|
| **Ogier** |  |  |  |
| Providing advice on British Virgin Islands, |  |  |  |
| Cayman Islands and Guernsey laws |  |  |  |
| Floor 11 Central Tower | **Partners** |  |  |
| 28 Queen's Road Central | Nicholas Plowman | Cecilia Li |  |
| Central | Nathan Powell | Rachel Huang\*\* |  |
| Hong Kong | Anthony Oakes | Yuki Yan\*\* |  |
|  | Oliver Payne | Florence Chan\*<sup>‡</sup> |  |
|  | Kate Hodson | Richard Bennett\*\*<sup>‡</sup> |  |
| T +852 3656 6000 | David Nelson | James Bergstrom<sup>‡</sup> |  |
| F +852 3656 6001 | Justin Davis |  | \* admitted in New Zealand |
| **ogier.com** | Joanne Collett |  | \*\* admitted in England and Wales |
|  | Dennis Li |  | <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 7 August 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 4 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 all the directors of the Company dated 4 August 2025 approving among
others, the Company's filing of the Registration Statement and issuance of the IPO Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) a certificate dated 8 August 2025 as to certain matters of fact signed by any of the director of the Company
(the **Director's Certificate**);

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) the draft form of the underwriting agreement appended as an exhibit to the Registration Statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) the Register of Writs and Other Originating Process (the **Register of Writs**) at the office of the Clerk of Courts in the Cayman Islands as inspected by us on 8 August 2025.

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) the Memorandum and Articles provided to us are in full force and effect and have not been amended, varied,
supplemented or revoked in any respect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) 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;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the Board Resolutions remain in full force and effect, have not been, and will not be rescinded or amended,
and each director of the Company has acted in good faith with a view to the best interests of the Company and has exercised the standard
of care, diligence and skill that is required of him in approving the Offering and the transactions set out in the Board Resolutions and
no director has a financial interest in or other relationship to a party of the transactions contemplated by the Offering and the Board
Resolutions which has not been properly disclosed in the Board Resolutions;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) 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; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) the Register of Writs constitutes a complete and accurate record of the proceedings affecting the Company
before the Grand Court of the Cayman Islands as at the time we conducted our investigation of such register.

---

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

---

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 500,000,000 ordinary shares with
US$0.0001 par value each (the **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;(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 of association of the Company then in effect; and

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

&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.

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.

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

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.

---

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

---

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 "*Enforceability of Civil Liabilities*", "*Risk Factors*", "*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.

---

| |
|:---|
| Yours faithfully |
| /s/ Ogier |
| **Ogier** |

---

## Exhibit 8.1

**Exhibit 8.1**

---

| | |
|:---|:---|
| Our ref: DAAC/AYHL/IDETA.0001<br>8 August 2025<br>**BY POST AND BY EMAIL**<br>**Idea Tech Holding Limited** <br> 89 Nexus Way<br> Camana Bay<br> Grand Cayman, KY1-9009<br> Cayman Islands<br> (the "**Company**") | ![](ex8-1_001.jpg) |

---

Dear Sirs,

---

| | |
|:---|:---|
| **Re**: | **Legal Opinion regarding Certain Hong Kong Legal Matters** |

---

A. INTRODUCTION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. We, Bird and Bird, act for the Company (together with its subsidiaries, the "**Group** ")
as its legal advisers on matters of the laws of the Hong Kong Special Administrative Region of the People's Republic of China ()"**Hong Kong**") in connection with the Company's registration statement on Form F-1 dated 8 August 2025 and filed with the U.S.
Securities and Exchange Commission (the "**Commission**") under the United States Securities Act of 1933, as amended (the
" **Act**") (the "**Registration Statement** "), relating to the initial public offering by the Company of
its ordinary shares of par value US$0.0001 each (the "**Ordinary Shares**") to be issued and listed on the Nasdaq Capital
Market (the "**Transaction** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. This letter is limited to the laws of Hong Kong in force as at the date hereof as currently applied by
the Hong Kong courts and given on the basis that they will be governed by and construed in accordance with the Hong Kong law. We express
no opinion as to the laws of any other jurisdictions or as to factual matters. We have assumed that there is nothing in the laws of any
other jurisdiction which affects the opinions in this opinion letter, and we have made no investigation of, and express no opinion in
relation to, the laws of any other jurisdiction for the purposes of this letter. In this letter, a reference to "laws" or
"law" is a reference to the common law, principles of equity and laws and regulations constituted or evidenced by documents
available to the public generally.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. In giving the opinion below, we have conducted due diligence on the Hong Kong incorporated entities listed
in Schedule I to this letter (the "**Hong Kong Entities** "), reviewed and examined a copy of the Registration Statement,
and such other documents as we have considered necessary or advisable for the purpose of rendering this opinion, which are provided to
us by the Company and the Hong Kong Entities and/or obtained through public searches conducted on 8 August 2025 (collectively, the "**Documents** "),
we have relied upon the assumptions set out in paragraph 5 or elsewhere herein, which we have not independently verified, and the opinion is subject
to the qualifications and reservations set out in paragraph 6 or elsewhere herein.

![](ex8-1_002.jpg)

\* China-Appointed Attesting Officer

^ Non-resident Partner

Bird & Bird is an international legal practice comprising Bird & Bird LLP and its affiliated and associated businesses in the locations listed, which include Bird & Bird, a partnership formed under Hong Kong law.

![](ex8-1_003.jpg)

B. OPINION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Based solely on the Documents and the qualifications, assumptions and limitations set forth herein and
subject to any matters not disclosed to us, and having regard to such considerations of the laws of Hong Kong in force as at the date
this letter as we consider relevant, we are of the view that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) each of the Hong Kong Entities is incorporated in Hong Kong, and has since then been validly existing
under the Companies Ordinance (Cap. 622 of the Laws of Hong Kong);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) as at the date of this opinion, (i) no order has been made by any court for the winding up or administration
of any of the Hong Kong Entities; and (ii) no receiver or administrator has been appointed in relation to any of the Hong Kong Entities
or any assets or revenues of any of the Hong Kong Entities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) no material non-compliance with the laws of Hong Kong has been found in respect of the Hong Kong Entities'
business operations which would materially and adversely affect the Hong Kong Entities' business operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) there are no charges and encumbrances on the issued share capital of the Hong Kong Entities;

the description of Hong Kong laws, if any, set forth in the Registration Statement under the captions "Prospectus Summary", "Corporate History and Structure", "Risk Factors", "Enforceability of Civil Liabilities", "Regulations" , and "Legal Matters" in each case insofar as such statements summarize Hong Kong laws, correctly and fairly summarizes the matters referred to therein in all material respects, and nothing has been omitted from such description which would make the same misleading in any material aspect.

C. ASSUMPTIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The opinions set out in this letter are based upon the following assumptions without any investigation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all copies of the Documents conform to their originals;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all statements of fact contained in the Documents are true, accurate and complete and not misleading in any respect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all information provided by the Company and/or the Hong Kong Entities is true and correct;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) where applicable, all signatures on the Documents are genuine, authentic and complete;

![](ex8-1_003.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) where applicable, all individuals signing or executing the Documents have the requisite legal capacity
and are duly authorised to sign or execute the Documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the information disclosed in the public record did not fail to disclose any information which had been
delivered for filing or registration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) no laws other than Hong Kong laws would affect the opinions stated herein but that, insofar as the laws
of any jurisdiction other than Hong Kong may be relevant, such laws have been complied with.

D. QUALIFICATIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The opinions set out in this letter are subject to the following qualifications:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the description of Hong Kong laws as referred to in paragraph 4 in this letter only set out the relevant
Hong Kong laws and regulations in a general sense and does not constitute a comprehensive legal opinion on such matter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the opinions in this letter are given based on our understanding of the current laws in Hong Kong as at
the date hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the opinions in this letter are given based solely on our inspection of the Documents without any further
independent investigation with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) we express no view as to whether any or all of the members of the Group have been or will be in compliance
with any or all of the laws of Hong Kong;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) we expressly disclaim any of our liabilities in any part of the Registration Statement other than the
description of Hong Kong laws as referred to in paragraph 4 in this letter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the opinions in this letter is only limited to the matters referred to herein and shall not be construed
as extending to any other matter or document not referred to herein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the opinion set out in paragraph 4(b) in this letter are given based solely on the description of the
business and activities of the Group set out in the Registration Statement and we express no opinion on the accuracy and completeness
thereon;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) we express no opinion as to the past, present or future financial performance or good standing or the
business prospect of the Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) we express no opinion as to taxation or accounting matters; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) the opinions in this letter are provided as of the date hereof and we undertake no obligation to update
the opinions in this letter based on events, changes in the law or other
matters occurring after the date hereof or to provide any notice to any person or entity of any subsequent events, facts or other matters
which might affect the opinions given herein.

![](ex8-1_003.jpg)

E. OTHERS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. For the purposes of the opinions set out in this letter, we do not express or imply any opinion herein
as to the laws of any jurisdiction other than those of Hong Kong. This opinion is delivered solely for the purpose of and in relation
to the Transaction and the Registration Statement publicly filed with the U.S. Securities and Exchange Commission on the date of this
opinion and it may not be used and may not be relied upon for any other purpose without our prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. We hereby consent to the use of this opinion in, and the filing hereof as an exhibit to, the Registration
Statement, and to the reference to our name in such Registration Statement. In giving such consent, we do not thereby admit that we come
within the category of persons whose consent is required under Section 7 of the U.S. Securities Act of 1933, as amended, or the regulations
promulgated thereunder. Except with our prior written consent or consented herein, this opinion is not to be transmitted or disclosed
to or used or relied upon by any other person or used or relied upon by the Company for any other purpose and it may not be filed with
any governmental agency or authority or quoted in any public document, save that to the extent required by any law or regulation or court
order or in connection with any judicial proceeding or in seeking to establish any defence in any legal or regulatory proceeding or investigation
relating to the matters set out herein. Our lability under this letter shall not exceed the amount of legal fees received by us from the
Company in relation to the Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. This opinion is given in respect of the laws of Hong Kong which are in force at, and is based upon facts
and circumstances in existence at 8:00 a.m. Hong Kong time on the date of this opinion. We assume no obligation to update this opinion
for any changes in the laws of Hong Kong or other events or circumstances that occur after 8:00 a.m. Hong Kong time on the date of this
opinion.

---

| |
|:---|
| Yours faithfully, |
| /s/ Bird & Bird |
| **Bird & Bird** |

---

![](ex8-1_003.jpg)

**<u>Schedule 1</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. IDEA TECH LIMITED 教鏈科技創新有限公司

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. ASK Idea (Hong Kong) Limited 艾思能達 (香港) 有限公司

## Exhibit 10.1

**Exhibit 10.1**

**<u>EMPLOYMENT AGREEMENT</u>**

**This EMPLOYMENT AGREEMENT** (the "<u>Agreement"</u>), is entered into as of December 1, 2024 by and between Idea Tech Holding Limited, an exempted company incorporated under the laws of the Cayman Islands with limited liability (the "<u>Company</u>"), and Chun Ki Wan, an individual (the "<u>Executive"</u>). The term "Company" as used herein with respect to all obligations of the Executive hereunder shall be deemed to include the Company and all of its subsidiaries (collectively, the "<u>Group</u>").

**RECITALS**

The Company desires to employ the Executive and to assure itself of the services of the Executive during the term of Employment (as defined below).

The Executive desires to be employed by the Company during the term of Employment and upon the terms and conditions of this Agreement.

**AGREEMENT**

The parties hereto agree as follows:

**1. POSITION**

The Executive hereby accepts the position of Chief Executive Officer ("CEO") and director of the Company (the "<u>Employment</u>").

**2. TERM**

Subject to the terms and conditions of this Agreement, the initial term of the Employment shall be 3 years, commencing on December 1, 2024 (the "<u>Effective Date</u>"), unless terminated earlier pursuant to the terms of this Agreement. Upon expiration of the initial term, the Employment shall be automatically extended for a successive 3-year term ("Extension Term") unless either party gives the other party hereto a three-month prior written notice to terminate the Employment prior to the expiration of such Extension Term or unless terminated earlier pursuant to the terms of this Agreement. The Executive shall be employed on a full-time basis and is expected to work the standard business hours of the Company, subject to any additional requirements necessary to fulfill his duties.

**3. PROBATION**

No probationary period.

**4. DUTIES AND RESPONSIBILITIES**

(a) The Executive's duties at the Company will include all jobs assigned by the Company's Board of Directors (the " <u>Board</u> ").

(b) The Executive shall devote all of his working time, attention and skills to the performance of his duties at the Company and shall faithfully and diligently serve the Company in accordance with this Agreement, the Memorandum and Articles of Association of the Company (the " <u>Articles of Association</u> "), as amended and restated from time to time, and the guidelines, policies and procedures of the Company approved from time to time by the Board.

(c) The Executive shall use his best efforts to perform his duties hereunder. The Executive shall not, without the prior written consent of the Board, serve as an officer or member of the board of directors or advisory board (or the equivalent in the case of a non-corporate entity) of non-competing for-profit businesses and charitable organizations, provided, however, that such activities do not materially interfere, individually or in the aggregate, with the performance of his duties and responsibilities to the Company. The Executive shall not be concerned or interested in any business or entity that engages in the same business in which the Company engages (any such business or entity, a " <u>Competitor</u> "), provided that nothing in this clause shall preclude the Executive from holding any shares or other securities of any Competitor that is listed on any securities exchange or recognized securities market anywhere if such shares or securities represent less than 5% of the Competitor's outstanding shares and securities. The Executive shall notify the Company in writing of his interest in such shares or securities in a timely manner and with such details and particulars as the Company may reasonably require.

**5. NO BREACH OF CONTRACT**

The Executive hereby represents to the Company that: (i) the execution and delivery of this Agreement by the Executive and the performance by the Executive of the Executive's duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which the Executive is a party or otherwise bound, except for agreements entered into by and between the Executive and any member of the Group pursuant to applicable law, if any; (ii) that the Executive has no information (including, without limitation, confidential information and trade secrets) relating to any other person or entity which would prevent, or be violated by, the Executive entering into this Agreement or carrying out his duties hereunder; (iii) that the Executive is not bound by any confidentiality, trade secret or similar agreement (other than this) with any other person or entity except for other member(s) of the Group, as the case may be.

**6. COMPENSATION AND BENEFITS**

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Base Salary</u>. During the Employment Term, as compensation
for services hereunder and subject to the performance of his obligations hereunder, the Executive shall be paid the annual cash compensation
of HK$828,000 (inclusive of the statutory welfare reserves that the Company is required to deduct from the Executive's pay under
applicable laws). The cash compensation may be paid by the Company, a subsidiary or affiliated entity or a combination thereof, as designated
by the Company from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Bonus</u>. The Executive shall be eligible for Bonuses determined
by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Equity Incentives</u>. To the extent the Company adopts and
maintains a share incentive plan, the Executive will be eligible to participate in such plan pursuant to the terms thereof as determined
by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Benefits</u>. The Executive is eligible for participation
in any standard employee benefit plan of the Company that currently exists or may be adopted by the Company in the future, including,
but not limited to, any retirement plan, life insurance plan, health insurance plan and travel/holiday plan.

&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Expenses</u>. The Executive shall be entitled to reimbursement
by the Company for all reasonable ordinary and necessary travel and other expenses incurred by the Executive in the performance of his
duties under this Agreement; provided that he properly accounts for such expenses in accordance with the Company's policies and
procedures.

**7. TERMINATION OF THE AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;(a) By the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) For Cause. The Company may terminate the Employment for cause,
at any time, without notice or remuneration (unless notice or remuneration is specifically required by applicable law, in which case
notice or remuneration will be provided in accordance with applicable law), if: (1) the Executive is convicted or pleads guilty to a
felony or to an act of fraud, misappropriation or embezzlement, (2) the Executive has been grossly negligent or acted dishonestly to
the detriment of the Company, (3) the Executive has engaged in actions amounting to willful misconduct or failed to perform his duties
hereunder and such failure continues after the Executive is afforded a reasonable opportunity to cure such failure; or (4) the Executive
violates Section 7 or 9 of this Agreement. Upon termination for cause, the Executive shall be entitled to the amount of base salary earned
and not paid prior to termination. However, the Executive will not be entitled to receive payment of any severance benefits or other
amounts by reason of the termination, and the Executive's right to all other benefits will terminate, except as required by any
applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) For death and disability. The Company may also terminate
the Employment, at any time, without notice or remuneration (unless notice or remuneration is specifically required by applicable law,
in which case notice or remuneration will be provided in accordance with applicable law), if: (1) the Executive has died, or (2) the
Executive has a disability which shall mean a physical or mental impairment which, as reasonably determined by the Board, renders the
Executive unable to perform the essential functions of his employment with the Company, with or without reasonable accommodation, for
more than 120 days in any 12-month period, unless a longer period is required by applicable law, in which case that longer period would
apply. Upon termination for death or disability, the Executive shall be entitled to the amount of base salary earned and not paid prior
to termination. However, the Executive will not be entitled to receive payment of any severance benefits or other amounts by reason of
the termination, and the Executive's right to all other benefits will terminate, except as required by any applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Without Cause. The Company may terminate the Employment without
cause, at any time, upon a prior written notice. Upon termination without cause, the Company shall provide the following severance payments
and benefits to the Executive: (1) a lump sum cash payment equal to 12 months of the Executive's base salary as of the date of
such termination; (2) a lump sum cash payment equal to a pro-rated amount of his target annual bonus for the year immediately preceding
the termination, if any; (3) payment of premiums for continued health benefits under the Company's health plans for 12 months fo1lowing
the termination, if any; and (4) immediate vesting of 100% of the then-unvested portion of any outstanding equity awards held by the
Executive. Upon termination without cause, the Executive shall be entitled to the amount of base salary earned and not paid prior to
termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Change of Control Transaction. If the Company or its successor
terminates the Employment upon a merger, consolidation, or transfer or sale of all or substantially all of the assets of the Company
with or to any other individual(s) or entity (the "Change of Control Transaction"), the Executive shall be entitled to the
following severance payments and benefits upon such termination: (1) a lump sum cash payment equal to 12 months of the Executive's
base salary at a rate equal to the greater of his/her annual salary in effect immediate1y prior to the termination, or his/her then current
annua1 salary as of the date of such termination; (2) a lump sum cash payment equal to a pro-rated amount of his/her target annual bonus
for the year immediately preceding the termination; and (3) immediate vesting of 100% of the then-unvested portion of any outstanding
equity awards held by the Executive.

&nbsp;&nbsp;&nbsp;&nbsp;(b) By the Executive. The Executive may terminate the Employment
at any time with a prior written notice to the Company, if (1) there is a material reduction in the Executive's authority, duties
and responsibilities, or (2) there is a material reduction in the Executive's annual salary. Upon the Executive's termination
of the Employment due to either of the above reasons, the Company shall provide compensation to the Executive equivalent to 12 months
of the Executive's base salary that he is entitled to immediately prior to such termination. In addition, the Executive may resign
prior to the expiration of the Agreement if such resignation is approved by the Board or an alternative arrangement with respect to the
Employment is agreed to by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Notice of Termination. Any termination of the Executive's
employment under this Agreement shall be communicated by written notice of termination from the terminating party to the other party.

**8. CONFIDENTIALITY AND NONDISCLOSURE**

(a) <u>Confidentiality and Non-disclosure.</u> The Executive hereby agrees at all times during the term of his/her employment and after termination, to hold in the strictest confidence, and not to use, except for the benefit of the Group, or to disclose to any person, corporation or other entity without written consent of the Company, any Confidential Information. The Executive understands that " <u>Confidential Information</u> " means any proprietary or confidential information of the Group, its affiliates, their clients, customers or partners, and the Group's licensors, including, without limitation, technical data, trade secrets, research and development information, product plans, services, customer lists and customers (including, but not limited to, customers of the Group on whom the Executive called or with whom the Executive became acquainted during the term of his/her employment), supplier lists and suppliers, software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware configuration information, personnel information, marketing, finances, information about the suppliers, joint ventures, licensors, licensees, distributors and other persons with whom the Group does business, information regarding the skills and compensation of other employees of the Group or other business information disclosed to the Executive by or obtained by the Executive from the Group, its affiliates, or their clients, customers or partners either directly or indirectly in writing, orally or by drawings or observation of parts or equipment, if specifically indicated to be confidential or reasonably expected to be confidential. Notwithstanding the foregoing, Confidential Information shall not include information that is generally available and known to the public through no fault of the Executive.

(b) <u>Company Property</u>. The Executive understands that all documents (including computer records, facsimile and e-mail) and materials created, received or transmitted in connection with his/her work or using the facilities of the Group are property of the Group and subject to inspection by the Group, at any time. Upon termination of the Executive's employment with the Company (or at any other time when requested by the Company), the Executive will promptly deliver to the Company all documents and materials of any nature pertaining to his/her work with the Company and will provide written certification of his/her compliance with this Agreement. Under no circumstances will the Executive have, following his/her termination, in his/her possession any property of the Group, or any documents or materials or copies thereof containing any Confidential Information.

(c) <u>Former Employer Information</u>. The Executive agrees that he has not and will not, during the term of his/her employment, (i) improperly use or disclose any proprietary information or trade secrets of any former employer or other person or entity with which the Executive has an agreement or duty to keep in confidence information acquired by Executive, if any, or (ii) bring into the premises of the Group any document or confidential or proprietary information belonging to such former employer, person or entity unless consented to in writing by such former employer, person or entity. The Executive will indemnify the Group and hold it harmless from and against all claims, liabilities, damages and expenses, including reasonable attorneys' fees and costs of suit, arising out of or in connection with any violation of the foregoing.

(d) <u>Third Party Information</u>. The Executive recognizes that the Group may have received, and in the future may receive, from third parties their confidential or proprietary information subject to a duty on the Group's part to maintain the confidentiality of such information and to use it only for certain limited purposes. The Executive agrees that the Executive owns the Group and such third parties, during the Executive's employment by the Company and thereafter, a duty to hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person or firm and to use it in a manner consistent with, and for the limited purposes permitted by, the Group's agreement with such third party.

(e) This Section 8 shall survive the termination of this Agreement for any reason. In the event the Executive breaches this Section 8, the Company shall have right to seek remedies permissible under applicable law.

**9. RETURN OF CONFIDENTIAL MATERIAL**

(a) <u>Return of Confidential Material.</u> In the event of the Executive's termination of employment with the Company for any reason whatsoever, Executive agrees promptly to surrender and deliver to the Company all records, materials, equipment, drawings, documents and data of any nature pertaining to any confidential information or to his/her employment, and Executive will not retain or take with him/her any tangible materials or electronically-stored data, containing or pertaining to any confidential information that Executive may produce, acquire or obtain access to during the course of his/her employment.

(b) <u>Survival.</u> This Section 9 shall survive the termination of this Agreement for any reason. In the event the Executive breaches this Section 9, the Company shall have right to seek remedies permissible under applicable law.

**10. CONFLICTING EMPLOYMENT**

The Executive hereby agrees that, during the term of his/her employment with the Company, he/she will not engage in any other employment, occupation, consulting or other business activity related to the business in which the Group is now involved or becomes involved during the term of the Executive's employment, nor will the Executive engage in any other activities that conflict with his/her obligations to the Company without the prior written consent of the Company.

**11. NON-COMPETITION AND NON-SOLICITATION**

In consideration of the salary paid to the Executive by the Company and subject to applicable law, the Executive agrees that during the term of the Employment and for a period of one (1) year following the termination of the Employment for whatever reason:

&nbsp;&nbsp;&nbsp;&nbsp;(a) The
Executive will not approach clients, customers or contacts of the Company or other persons or entities introduced to the Executive in
the Executive's capacity as a representative of the Company for the purposes of doing business with such persons or entities which
will harm the business relationship between the Company and such persons and/or entities;

&nbsp;&nbsp;&nbsp;&nbsp;(b) The
Executive will not assume employment with or provide services as a Executive or otherwise for any Competitor, or engage, whether as principal,
partner, licensor or otherwise, in any Competitor; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) The
Executive will not seek, directly or indirectly, by the offer of alternative employment or other inducement whatsoever, to solicit the
services of any employee of the Company employed as at or after the date of such termination, or in the year preceding such termination.

The provisions contained in Section 9 are considered reasonable by the Executive and the Company. In the event that any such provisions should be found to be void under applicable laws but would be valid if some part thereof was deleted or the period or area of application reduced, such provisions shall apply with such modification as may be necessary to make them valid and effective.

This Section 9 shall survive the termination of this Agreement for any reason. In the event the Executive breaches this Section 9, the Executive acknowledges that there will be no adequate remedy at law, and the Company shall be entitled to injunctive relief and/or a decree for specific performance, and such other relief as may be proper (including monetary damages if appropriate). In any event, the Company shall have the right to seek all remedies permissible under applicable law.

**12. WITHHOLDING TAXES**

Notwithstanding anything else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any amounts otherwise due or payable under or pursuant to this Agreement such national, provincial, local or any other income, employment, or other taxes as may be required to be withheld pursuant to any applicable law or regulation.

**13. ASSIGNMENT**

This Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer this Agreement or any rights or obligations hereunder; <u>provided, however</u>, that (i) the Company may assign or transfer this Agreement or any rights or obligations hereunder to any member of the Group without such consent, and (ii) in the event of a merger, consolidation, or transfer or sale of all or substantially all of the assets of the Company with or to any other individual(s) or entity, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder.

**14. SEVERABILITY**

If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of this Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable.

**15. ENTIRE AGREEMENT**

This Agreement constitutes the entire agreement and understanding between the Executive and the Company regarding the terms of the Employment and supersedes all prior or contemporaneous oral or written agreements concerning such subject matter, other than any such agreement under any employment agreement entered into with a subsidiary of the Company at the request of the Company to the extent such agreement does not conflict with any of the provisions herein. The Executive acknowledges that he/she has not entered into this Agreement in reliance upon any representation, warranty or undertaking which is not set forth in this Agreement. Any amendment to this Agreement must be in writing and signed by the Executive and the Company.

**16. GOVERNING LAW AND DISPUTE RESOLUTION**

This Agreement shall be governed by and construed in accordance with the laws of the British Virgin Islands.

**17. AMENDMENT**

This Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly referring to this Agreement, which agreement is executed by both of the parties hereto.

**18. WAIVER**

Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver.

**19. NOTICES**

All notices, requests, demands and other communications required or permitted under this Agreement shall be in writing and shall be deemed to have been duly given and made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, or (iii) sent by a recognized courier with next-day or second-day delivery to the last known address of the other party.

**20. COUNTERPARTS**

This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which together shall constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose.

**21. NO INTERPRETATION AGAINST DRAFTER**

Each party recognizes that this Agreement is a legally binding contract and acknowledges that such party has had the opportunity to consult with legal counsel of choice. In any construction of the terms of this Agreement, the same shall not be construed against either party on the basis of that party being the drafter of such terms. The Executive agrees and acknowledges that he/she has read and understands this Agreement, is entering into it freely and voluntarily, and has been advised to seek counsel prior to entering into this Agreement and has ample opportunity to do so.

*[remainder of this page left intentionally blank]*

IN WITNESS WHEREOF, this Agreement has been executed as of the date first written above.

---

| | |
|:---|:---|
| **Idea Tech Holding Limited** | **Idea Tech Holding Limited** |
| Signature: | */s/ Xiaoke Luo* |
| Name: | Xiaoke Luo |
| Title: | Chairman of the Board of Directors |

---

---

| | |
|:---|:---|
| **Executive** | **Executive** |
| Signature: | */s/ Chun Ki Wan* |
| Name: | Chun Ki Wan |

---

*[Signature Page to Employment Agreement]*

## Exhibit 10.2

**Exhibit 10.2**

**<u>EMPLOYMENT AGREEMENT</u>**

**This EMPLOYMENT AGREEMENT** (the "<u>Agreement"</u>), is entered into as of December 1, 2024 by and between Idea Tech Holding Limited, an exempted company incorporated under the laws of the Cayman Islands with limited liability (the "<u>Company</u>"), and Weiqing He, an individual (the "<u>Executive"</u>). The term "Company" as used herein with respect to all obligations of the Executive hereunder shall be deemed to include the Company and all of its subsidiaries (collectively, the "<u>Group</u>").

**RECITALS**

The Company desires to employ the Executive and to assure itself of the services of the Executive during the term of Employment (as defined below).

The Executive desires to be employed by the Company during the term of Employment and upon the terms and conditions of this Agreement.

**AGREEMENT**

The parties hereto agree as follows:

**1. POSITION**

The Executive hereby accepts the position of Chief Financial Officer ("CFO") and director of the Company (the "<u>Employment</u>").

**2. TERM**

Subject to the terms and conditions of this Agreement, the initial term of the Employment shall be 3 years, commencing on December 1, 2024 (the "<u>Effective Date</u>"), unless terminated earlier pursuant to the terms of this Agreement. Upon expiration of the initial term, the Employment shall be automatically extended for a successive 3-year term ("Extension Term") unless either party gives the other party hereto a three-month prior written notice to terminate the Employment prior to the expiration of such Extension Term or unless terminated earlier pursuant to the terms of this Agreement. The Executive shall be employed on a full-time basis and is expected to work the standard business hours of the Company, subject to any additional requirements necessary to fulfill his duties.

**3. PROBATION**

No probationary period.

**4. DUTIES AND RESPONSIBILITIES**

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Executive's
 duties at the Company will include all jobs assigned by the Company's Board of Directors (the " <u>Board</u> ").

&nbsp;&nbsp;&nbsp;&nbsp;(b) The Executive
 shall devote all of his working time, attention and skills to the performance of his duties at the Company and shall faithfully and
 diligently serve the Company in accordance with this Agreement, the Memorandum and Articles of Association of the Company (the " <u>Articles of Association</u> "), as amended and restated from time to time, and the guidelines, policies and procedures of the Company
 approved from time to time by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The Executive
 shall use his best efforts to perform his duties hereunder. The Executive shall not, without the prior written consent of the Board,
 serve as an officer or member of the board of directors or advisory board (or the equivalent in the case of a non-corporate entity)
 of non-competing for-profit businesses and charitable organizations, provided, however, that such activities do not materially interfere,
 individually or in the aggregate, with the performance of his duties and responsibilities to the Company. The Executive shall not
 be concerned or interested in any business or entity that engages in the same business in which the Company engages (any such business
 or entity, a " <u>Competitor</u> "), provided that nothing in this clause shall preclude the Executive from holding any
 shares or other securities of any Competitor that is listed on any securities exchange or recognized securities market anywhere if
 such shares or securities represent less than 5% of the Competitor's outstanding shares and securities. The Executive shall
 notify the Company in writing of his interest in such shares or securities in a timely manner and with such details and particulars
 as the Company may reasonably require.

**5. NO BREACH OF CONTRACT**

The Executive hereby represents to the Company that: (i) the execution and delivery of this Agreement by the Executive and the performance by the Executive of the Executive's duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which the Executive is a party or otherwise bound, except for agreements entered into by and between the Executive and any member of the Group pursuant to applicable law, if any; (ii) that the Executive has no information (including, without limitation, confidential information and trade secrets) relating to any other person or entity which would prevent, or be violated by, the Executive entering into this Agreement or carrying out his duties hereunder; (iii) that the Executive is not bound by any confidentiality, trade secret or similar agreement (other than this) with any other person or entity except for other member(s) of the Group, as the case may be.

**6. COMPENSATION AND BENEFITS**

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Base Salary</u>. During the Employment Term, as compensation for services hereunder and subject to the performance of his obligations hereunder,
the Executive shall be paid the annual cash compensation of HK$360,000 (inclusive of the statutory welfare reserves that the Company
is required to deduct from the Executive's pay under applicable laws). The cash compensation may be paid by the Company, a subsidiary
or affiliated entity or a combination thereof, as designated by the Company from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Bonus</u>.
The Executive shall be eligible for Bonuses determined by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Equity Incentives</u>. To the extent the Company adopts and maintains a share incentive plan, the Executive will be eligible to participate
in such plan pursuant to the terms thereof as determined by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Benefits</u>.
The Executive is eligible for participation in any standard employee benefit plan of the Company that currently exists or may be adopted
by the Company in the future, including, but not limited to, any retirement plan, life insurance plan, health insurance plan and travel/holiday
plan.

&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Expenses</u>.
The Executive shall be entitled to reimbursement by the Company for all reasonable ordinary and necessary travel and other expenses incurred
by the Executive in the performance of his duties under this Agreement; provided that he properly accounts for such expenses in accordance
with the Company's policies and procedures.

**7. TERMINATION OF THE AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;(a) By
the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) For
Cause. The Company may terminate the Employment for cause, at any time, without notice or remuneration (unless notice or remuneration
is specifically required by applicable law, in which case notice or remuneration will be provided in accordance with applicable law),
if: (1) the Executive is convicted or pleads guilty to a felony or to an act of fraud, misappropriation or embezzlement, (2) the Executive
has been grossly negligent or acted dishonestly to the detriment of the Company, (3) the Executive has engaged in actions amounting to
willful misconduct or failed to perform his duties hereunder and such failure continues after the Executive is afforded a reasonable
opportunity to cure such failure; or (4) the Executive violates Section 7 or 9 of this Agreement. Upon termination for cause, the Executive
shall be entitled to the amount of base salary earned and not paid prior to termination. However, the Executive will not be entitled
to receive payment of any severance benefits or other amounts by reason of the termination, and the Executive's right to all other
benefits will terminate, except as required by any applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) For
death and disability. The Company may also terminate the Employment, at any time, without notice or remuneration (unless notice or remuneration
is specifically required by applicable law, in which case notice or remuneration will be provided in accordance with applicable law),
if: (1) the Executive has died, or (2) the Executive has a disability which shall mean a physical or mental impairment which, as reasonably
determined by the Board, renders the Executive unable to perform the essential functions of his employment with the Company, with or
without reasonable accommodation, for more than 120 days in any 12-month period, unless a longer period is required by applicable law,
in which case that longer period would apply. Upon termination for death or disability, the Executive shall be entitled to the amount
of base salary earned and not paid prior to termination. However, the Executive will not be entitled to receive payment of any severance
benefits or other amounts by reason of the termination, and the Executive's right to all other benefits will terminate, except
as required by any applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Without
Cause. The Company may terminate the Employment without cause, at any time, upon a prior written notice. Upon termination without cause,
the Company shall provide the following severance payments and benefits to the Executive: (1) a lump sum cash payment equal to 12 months
of the Executive's base salary as of the date of such termination; (2) a lump sum cash payment equal to a pro-rated amount of his
target annual bonus for the year immediately preceding the termination, if any; (3) payment of premiums for continued health benefits
under the Company's health plans for 12 months fo1lowing the termination, if any; and (4) immediate vesting of 100% of the then-unvested
portion of any outstanding equity awards held by the Executive. Upon termination without cause, the Executive shall be entitled to the
amount of base salary earned and not paid prior to termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Change
of Control Transaction. If the Company or its successor terminates the Employment upon a merger, consolidation, or transfer or sale of
all or substantially all of the assets of the Company with or to any other individual(s) or entity (the "Change of Control Transaction"),
the Executive shall be entitled to the following severance payments and benefits upon such termination: (1) a lump sum cash payment equal
to 12 months of the Executive's base salary at a rate equal to the greater of his/her annual salary in effect immediate1y prior
to the termination, or his/her then current annua1 salary as of the date of such termination; (2) a lump sum cash payment equal to a
pro-rated amount of his/her target annual bonus for the year immediately preceding the termination; and (3) immediate vesting of 100%
of the then-unvested portion of any outstanding equity awards held by the Executive.

&nbsp;&nbsp;&nbsp;&nbsp;(b) By
the Executive. The Executive may terminate the Employment at any time with a prior written notice to the Company, if (1) there is a material
reduction in the Executive's authority, duties and responsibilities, or (2) there is a material reduction in the Executive's
annual salary. Upon the Executive's termination of the Employment due to either of the above reasons, the Company shall provide
compensation to the Executive equivalent to 12 months of the Executive's base salary that he is entitled to immediately prior to
such termination. In addition, the Executive may resign prior to the expiration of the Agreement if such resignation is approved by the
Board or an alternative arrangement with respect to the Employment is agreed to by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Notice
of Termination. Any termination of the Executive's employment under this Agreement shall be communicated by written notice of termination
from the terminating party to the other party.

**8. CONFIDENTIALITY AND NONDISCLOSURE**

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Confidentiality and Non-disclosure.</u> The Executive hereby agrees at all times during the term of his/her employment and after termination, to hold
 in the strictest confidence, and not to use, except for the benefit of the Group, or to disclose to any person, corporation or other
 entity without written consent of the Company, any Confidential Information. The Executive understands that " <u>Confidential Information</u> " means any proprietary or confidential information of the Group, its affiliates, their clients, customers or
 partners, and the Group's licensors, including, without limitation, technical data, trade secrets, research and development
 information, product plans, services, customer lists and customers (including, but not limited to, customers of the Group on whom
 the Executive called or with whom the Executive became acquainted during the term of his/her employment), supplier lists and suppliers,
 software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware configuration information,
 personnel information, marketing, finances, information about the suppliers, joint ventures, licensors, licensees, distributors and
 other persons with whom the Group does business, information regarding the skills and compensation of other employees of the Group
 or other business information disclosed to the Executive by or obtained by the Executive from the Group, its affiliates, or their
 clients, customers or partners either directly or indirectly in writing, orally or by drawings or observation of parts or equipment,
 if specifically indicated to be confidential or reasonably expected to be confidential. Notwithstanding the foregoing, Confidential
 Information shall not include information that is generally available and known to the public through no fault of the Executive.

(b) <u>Company Property</u>.
 The Executive understands that all documents (including computer records, facsimile and e-mail) and materials created, received or
 transmitted in connection with his/her work or using the facilities of the Group are property of the Group and subject to inspection
 by the Group, at any time. Upon termination of the Executive's employment with the Company (or at any other time when requested
 by the Company), the Executive will promptly deliver to the Company all documents and materials of any nature pertaining to his/her
 work with the Company and will provide written certification of his/her compliance with this Agreement. Under no circumstances will
 the Executive have, following his/her termination, in his/her possession any property of the Group, or any documents or materials
 or copies thereof containing any Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Former Employer Information</u>.
 The Executive agrees that he has not and will not, during the term of his/her employment, (i) improperly use or disclose any proprietary
 information or trade secrets of any former employer or other person or entity with which the Executive has an agreement or duty to
 keep in confidence information acquired by Executive, if any, or (ii) bring into the premises of the Group any document or confidential
 or proprietary information belonging to such former employer, person or entity unless consented to in writing by such former employer,
 person or entity. The Executive will indemnify the Group and hold it harmless from and against all claims, liabilities, damages and
 expenses, including reasonable attorneys' fees and costs of suit, arising out of or in connection with any violation of the
 foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Third Party Information</u>.
 The Executive recognizes that the Group may have received, and in the future may receive, from third parties their confidential or
 proprietary information subject to a duty on the Group's part to maintain the confidentiality of such information and to use
 it only for certain limited purposes. The Executive agrees that the Executive owns the Group and such third parties, during the Executive's
 employment by the Company and thereafter, a duty to hold all such confidential or proprietary information in the strictest confidence
 and not to disclose it to any person or firm and to use it in a manner consistent with, and for the limited purposes permitted by,
 the Group's agreement with such third party.

&nbsp;&nbsp;&nbsp;&nbsp;(e) This Section 8 shall survive
 the termination of this Agreement for any reason. In the event the Executive breaches this Section 8, the Company shall have right
 to seek remedies permissible under applicable law.

**9. RETURN OF CONFIDENTIAL MATERIAL**

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Return of Confidential Material.</u> In the event of the Executive's termination of employment with the Company for any reason whatsoever, Executive
 agrees promptly to surrender and deliver to the Company all records, materials, equipment, drawings, documents and data of any nature
 pertaining to any confidential information or to his/her employment, and Executive will not retain or take with him/her any tangible
 materials or electronically-stored data, containing or pertaining to any confidential information that Executive may produce, acquire
 or obtain access to during the course of his/her employment.

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Survival.</u> This Section
 9 shall survive the termination of this Agreement for any reason. In the event the Executive breaches this Section 9, the Company
 shall have right to seek remedies permissible under applicable law.

**10. CONFLICTING EMPLOYMENT**

The Executive hereby agrees that, during the term of his/her employment with the Company, he/she will not engage in any other employment, occupation, consulting or other business activity related to the business in which the Group is now involved or becomes involved during the term of the Executive's employment, nor will the Executive engage in any other activities that conflict with his/her obligations to the Company without the prior written consent of the Company.

**11. NON-COMPETITION AND NON-SOLICITATION**

In consideration of the salary paid to the Executive by the Company and subject to applicable law, the Executive agrees that during the term of the Employment and for a period of one (1) year following the termination of the Employment for whatever reason:

&nbsp;&nbsp;&nbsp;&nbsp;(a) The
Executive will not approach clients, customers or contacts of the Company or other persons or entities introduced to the Executive in
the Executive's capacity as a representative of the Company for the purposes of doing business with such persons or entities which
will harm the business relationship between the Company and such persons and/or entities;

&nbsp;&nbsp;&nbsp;&nbsp;(b) The
Executive will not assume employment with or provide services as a Executive or otherwise for any Competitor, or engage, whether as principal,
partner, licensor or otherwise, in any Competitor; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) The
Executive will not seek, directly or indirectly, by the offer of alternative employment or other inducement whatsoever, to solicit the
services of any employee of the Company employed as at or after the date of such termination, or in the year preceding such termination.

The provisions contained in Section 9 are considered reasonable by the Executive and the Company. In the event that any such provisions should be found to be void under applicable laws but would be valid if some part thereof was deleted or the period or area of application reduced, such provisions shall apply with such modification as may be necessary to make them valid and effective.

This Section 9 shall survive the termination of this Agreement for any reason. In the event the Executive breaches this Section 9, the Executive acknowledges that there will be no adequate remedy at law, and the Company shall be entitled to injunctive relief and/or a decree for specific performance, and such other relief as may be proper (including monetary damages if appropriate). In any event, the Company shall have the right to seek all remedies permissible under applicable law.

**12. WITHHOLDING TAXES**

Notwithstanding anything else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any amounts otherwise due or payable under or pursuant to this Agreement such national, provincial, local or any other income, employment, or other taxes as may be required to be withheld pursuant to any applicable law or regulation.

**13. ASSIGNMENT**

This Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer this Agreement or any rights or obligations hereunder; <u>provided, however</u>, that (i) the Company may assign or transfer this Agreement or any rights or obligations hereunder to any member of the Group without such consent, and (ii) in the event of a merger, consolidation, or transfer or sale of all or substantially all of the assets of the Company with or to any other individual(s) or entity, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder.

**14. SEVERABILITY**

If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of this Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable.

**15. ENTIRE AGREEMENT**

This Agreement constitutes the entire agreement and understanding between the Executive and the Company regarding the terms of the Employment and supersedes all prior or contemporaneous oral or written agreements concerning such subject matter, other than any such agreement under any employment agreement entered into with a subsidiary of the Company at the request of the Company to the extent such agreement does not conflict with any of the provisions herein. The Executive acknowledges that he/she has not entered into this Agreement in reliance upon any representation, warranty or undertaking which is not set forth in this Agreement. Any amendment to this Agreement must be in writing and signed by the Executive and the Company.

**16. GOVERNING LAW AND DISPUTE RESOLUTION**

This Agreement shall be governed by and construed in accordance with the laws of the British Virgin Islands.

**17. AMENDMENT**

This Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly referring to this Agreement, which agreement is executed by both of the parties hereto.

**18. WAIVER**

Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver.

**19. NOTICES**

All notices, requests, demands and other communications required or permitted under this Agreement shall be in writing and shall be deemed to have been duly given and made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, or (iii) sent by a recognized courier with next-day or second-day delivery to the last known address of the other party.

**20. COUNTERPARTS**

This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which together shall constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose.

**21. NO INTERPRETATION AGAINST DRAFTER**

Each party recognizes that this Agreement is a legally binding contract and acknowledges that such party has had the opportunity to consult with legal counsel of choice. In any construction of the terms of this Agreement, the same shall not be construed against either party on the basis of that party being the drafter of such terms. The Executive agrees and acknowledges that he/she has read and understands this Agreement, is entering into it freely and voluntarily, and has been advised to seek counsel prior to entering into this Agreement and has ample opportunity to do so.

*[remainder of this page left intentionally blank]*

IN WITNESS WHEREOF, this Agreement has been executed as of the date first written above.

---

| | |
|:---|:---|
| **Idea Tech Holding Limited** | **Idea Tech Holding Limited** |
| Signature: | */s/ Xiaoke Luo* |
| Name: | Xiaoke Luo |
| Title: | Chairman of the Board of Directors |

---

---

| | |
|:---|:---|
| **Executive** | **Executive** |
| Signature: | */s/ Weiqing He* |
| Name: | Weiqing He |

---

*[Signature Page to Employment Agreement]*

## Exhibit 10.3

**Exhibit 10.3**

**<u>EMPLOYMENT AGREEMENT</u>**

**This EMPLOYMENT AGREEMENT** (the "<u>Agreement"</u>), is entered into as of December 1, 2024 by and between Idea Tech Holding Limited, an exempted company incorporated under the laws of the Cayman Islands with limited liability (the "<u>Company</u>"), and Ho Kit Hui, an individual (the "<u>Executive"</u>). The term "Company" as used herein with respect to all obligations of the Executive hereunder shall be deemed to include the Company and all of its subsidiaries (collectively, the "<u>Group</u>").

**RECITALS**

The Company desires to employ the Executive and to assure itself of the services of the Executive during the term of Employment (as defined below).

The Executive desires to be employed by the Company during the term of Employment and upon the terms and conditions of this Agreement.

**AGREEMENT**

The parties hereto agree as follows:

**1. POSITION**

The Executive hereby accepts the position of Chief Operation Officer ("COO") of the Company (the "<u>Employment</u>").

**2. TERM**

Subject to the terms and conditions of this Agreement, the initial term of the Employment shall be 3 years, commencing on December 1, 2024 (the "<u>Effective Date</u>"), unless terminated earlier pursuant to the terms of this Agreement. Upon expiration of the initial term, the Employment shall be automatically extended for a successive 3-year term ("Extension Term") unless either party gives the other party hereto a three-month prior written notice to terminate the Employment prior to the expiration of such Extension Term or unless terminated earlier pursuant to the terms of this Agreement. The Executive shall be employed on a full-time basis and is expected to work the standard business hours of the Company, subject to any additional requirements necessary to fulfill his duties.

**3. PROBATION**

No probationary period.

**4. DUTIES AND RESPONSIBILITIES**

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Executive's
 duties at the Company will include all jobs assigned by the Company's Board of Directors (the " <u>Board</u> ").

&nbsp;&nbsp;&nbsp;&nbsp;(b) The Executive
 shall devote all of his working time, attention and skills to the performance of his duties at the Company and shall faithfully and
 diligently serve the Company in accordance with this Agreement, the Memorandum and Articles of Association of the Company (the " <u>Articles of Association</u> "), as amended and restated from time to time, and the guidelines, policies and procedures of the Company
 approved from time to time by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The Executive
 shall use his best efforts to perform his duties hereunder. The Executive shall not, without the prior written consent of the Board,
 serve as an officer or member of the board of directors or advisory board (or the equivalent in the case of a non-corporate entity)
 of non-competing for-profit businesses and charitable organizations, provided, however, that such activities do not materially interfere,
 individually or in the aggregate, with the performance of his duties and responsibilities to the Company. The Executive shall not
 be concerned or interested in any business or entity that engages in the same business in which the Company engages (any such business
 or entity, a " <u>Competitor</u> "), provided that nothing in this clause shall preclude the Executive from holding any
 shares or other securities of any Competitor that is listed on any securities exchange or recognized securities market anywhere if
 such shares or securities represent less than 5% of the Competitor's outstanding shares and securities. The Executive shall
 notify the Company in writing of his interest in such shares or securities in a timely manner and with such details and particulars
 as the Company may reasonably require.

**5. NO BREACH OF CONTRACT**

The Executive hereby represents to the Company that: (i) the execution and delivery of this Agreement by the Executive and the performance by the Executive of the Executive's duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which the Executive is a party or otherwise bound, except for agreements entered into by and between the Executive and any member of the Group pursuant to applicable law, if any; (ii) that the Executive has no information (including, without limitation, confidential information and trade secrets) relating to any other person or entity which would prevent, or be violated by, the Executive entering into this Agreement or carrying out his duties hereunder; (iii) that the Executive is not bound by any confidentiality, trade secret or similar agreement (other than this) with any other person or entity except for other member(s) of the Group, as the case may be.

**6. COMPENSATION AND BENEFITS**

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Base Salary</u>. During the Employment Term, as compensation for services hereunder and subject to the performance of his obligations hereunder,
the Executive shall be paid the annual cash compensation of HK$828,000 (inclusive of the statutory welfare reserves that the Company
is required to deduct from the Executive's pay under applicable laws). The cash compensation may be paid by the Company, a subsidiary
or affiliated entity or a combination thereof, as designated by the Company from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Bonus</u>.
The Executive shall be eligible for Bonuses determined by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Equity Incentives</u>. To the extent the Company adopts and maintains a share incentive plan, the Executive will be eligible to participate
in such plan pursuant to the terms thereof as determined by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Benefits</u>.
The Executive is eligible for participation in any standard employee benefit plan of the Company that currently exists or may be adopted
by the Company in the future, including, but not limited to, any retirement plan, life insurance plan, health insurance plan and travel/holiday
plan.

&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Expenses</u>.
The Executive shall be entitled to reimbursement by the Company for all reasonable ordinary and necessary travel and other expenses incurred
by the Executive in the performance of his duties under this Agreement; provided that he properly accounts for such expenses in accordance
with the Company's policies and procedures.

**7. TERMINATION OF THE AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;(a) By
the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) For
Cause. The Company may terminate the Employment for cause, at any time, without notice or remuneration (unless notice or remuneration
is specifically required by applicable law, in which case notice or remuneration will be provided in accordance with applicable law),
if: (1) the Executive is convicted or pleads guilty to a felony or to an act of fraud, misappropriation or embezzlement, (2) the Executive
has been grossly negligent or acted dishonestly to the detriment of the Company, (3) the Executive has engaged in actions amounting to
willful misconduct or failed to perform his duties hereunder and such failure continues after the Executive is afforded a reasonable
opportunity to cure such failure; or (4) the Executive violates Section 7 or 9 of this Agreement. Upon termination for cause, the Executive
shall be entitled to the amount of base salary earned and not paid prior to termination. However, the Executive will not be entitled
to receive payment of any severance benefits or other amounts by reason of the termination, and the Executive's right to all other
benefits will terminate, except as required by any applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) For
death and disability. The Company may also terminate the Employment, at any time, without notice or remuneration (unless notice or remuneration
is specifically required by applicable law, in which case notice or remuneration will be provided in accordance with applicable law),
if: (1) the Executive has died, or (2) the Executive has a disability which shall mean a physical or mental impairment which, as reasonably
determined by the Board, renders the Executive unable to perform the essential functions of his employment with the Company, with or
without reasonable accommodation, for more than 120 days in any 12-month period, unless a longer period is required by applicable law,
in which case that longer period would apply. Upon termination for death or disability, the Executive shall be entitled to the amount
of base salary earned and not paid prior to termination. However, the Executive will not be entitled to receive payment of any severance
benefits or other amounts by reason of the termination, and the Executive's right to all other benefits will terminate, except
as required by any applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Without
Cause. The Company may terminate the Employment without cause, at any time, upon a prior written notice. Upon termination without cause,
the Company shall provide the following severance payments and benefits to the Executive: (1) a lump sum cash payment equal to 12 months
of the Executive's base salary as of the date of such termination; (2) a lump sum cash payment equal to a pro-rated amount of his
target annual bonus for the year immediately preceding the termination, if any; (3) payment of premiums for continued health benefits
under the Company's health plans for 12 months fo1lowing the termination, if any; and (4) immediate vesting of 100% of the then-unvested
portion of any outstanding equity awards held by the Executive. Upon termination without cause, the Executive shall be entitled to the
amount of base salary earned and not paid prior to termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Change
of Control Transaction. If the Company or its successor terminates the Employment upon a merger, consolidation, or transfer or sale of
all or substantially all of the assets of the Company with or to any other individual(s) or entity (the "Change of Control Transaction"),
the Executive shall be entitled to the following severance payments and benefits upon such termination: (1) a lump sum cash payment equal
to 12 months of the Executive's base salary at a rate equal to the greater of his/her annual salary in effect immediate1y prior
to the termination, or his/her then current annua1 salary as of the date of such termination; (2) a lump sum cash payment equal to a
pro-rated amount of his/her target annual bonus for the year immediately preceding the termination; and (3) immediate vesting of 100%
of the then-unvested portion of any outstanding equity awards held by the Executive.

&nbsp;&nbsp;&nbsp;&nbsp;(b) By
the Executive. The Executive may terminate the Employment at any time with a prior written notice to the Company, if (1) there is a material
reduction in the Executive's authority, duties and responsibilities, or (2) there is a material reduction in the Executive's
annual salary. Upon the Executive's termination of the Employment due to either of the above reasons, the Company shall provide
compensation to the Executive equivalent to 12 months of the Executive's base salary that he is entitled to immediately prior to
such termination. In addition, the Executive may resign prior to the expiration of the Agreement if such resignation is approved by the
Board or an alternative arrangement with respect to the Employment is agreed to by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Notice
of Termination. Any termination of the Executive's employment under this Agreement shall be communicated by written notice of termination
from the terminating party to the other party.

**8. CONFIDENTIALITY AND NONDISCLOSURE**

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Confidentiality and Non-disclosure.</u> The Executive hereby agrees at all times during the term of his/her employment and after termination, to hold
 in the strictest confidence, and not to use, except for the benefit of the Group, or to disclose to any person, corporation or other
 entity without written consent of the Company, any Confidential Information. The Executive understands that " <u>Confidential Information</u> " means any proprietary or confidential information of the Group, its affiliates, their clients, customers or
 partners, and the Group's licensors, including, without limitation, technical data, trade secrets, research and development
 information, product plans, services, customer lists and customers (including, but not limited to, customers of the Group on whom
 the Executive called or with whom the Executive became acquainted during the term of his/her employment), supplier lists and suppliers,
 software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware configuration information,
 personnel information, marketing, finances, information about the suppliers, joint ventures, licensors, licensees, distributors and
 other persons with whom the Group does business, information regarding the skills and compensation of other employees of the Group
 or other business information disclosed to the Executive by or obtained by the Executive from the Group, its affiliates, or their
 clients, customers or partners either directly or indirectly in writing, orally or by drawings or observation of parts or equipment,
 if specifically indicated to be confidential or reasonably expected to be confidential. Notwithstanding the foregoing, Confidential
 Information shall not include information that is generally available and known to the public through no fault of the Executive.

(b) <u>Company Property</u>.
 The Executive understands that all documents (including computer records, facsimile and e-mail) and materials created, received or
 transmitted in connection with his/her work or using the facilities of the Group are property of the Group and subject to inspection
 by the Group, at any time. Upon termination of the Executive's employment with the Company (or at any other time when requested
 by the Company), the Executive will promptly deliver to the Company all documents and materials of any nature pertaining to his/her
 work with the Company and will provide written certification of his/her compliance with this Agreement. Under no circumstances will
 the Executive have, following his/her termination, in his/her possession any property of the Group, or any documents or materials
 or copies thereof containing any Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Former Employer Information</u>.
 The Executive agrees that he has not and will not, during the term of his/her employment, (i) improperly use or disclose any proprietary
 information or trade secrets of any former employer or other person or entity with which the Executive has an agreement or duty to
 keep in confidence information acquired by Executive, if any, or (ii) bring into the premises of the Group any document or confidential
 or proprietary information belonging to such former employer, person or entity unless consented to in writing by such former employer,
 person or entity. The Executive will indemnify the Group and hold it harmless from and against all claims, liabilities, damages and
 expenses, including reasonable attorneys' fees and costs of suit, arising out of or in connection with any violation of the
 foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Third Party Information</u>.
 The Executive recognizes that the Group may have received, and in the future may receive, from third parties their confidential or
 proprietary information subject to a duty on the Group's part to maintain the confidentiality of such information and to use
 it only for certain limited purposes. The Executive agrees that the Executive owns the Group and such third parties, during the Executive's
 employment by the Company and thereafter, a duty to hold all such confidential or proprietary information in the strictest confidence
 and not to disclose it to any person or firm and to use it in a manner consistent with, and for the limited purposes permitted by,
 the Group's agreement with such third party.

&nbsp;&nbsp;&nbsp;&nbsp;(e) This Section 8 shall survive
 the termination of this Agreement for any reason. In the event the Executive breaches this Section 8, the Company shall have right
 to seek remedies permissible under applicable law.

**9. RETURN OF CONFIDENTIAL MATERIAL**

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Return of Confidential Material.</u> In the event of the Executive's termination of employment with the Company for any reason whatsoever, Executive
 agrees promptly to surrender and deliver to the Company all records, materials, equipment, drawings, documents and data of any nature
 pertaining to any confidential information or to his/her employment, and Executive will not retain or take with him/her any tangible
 materials or electronically-stored data, containing or pertaining to any confidential information that Executive may produce, acquire
 or obtain access to during the course of his/her employment.

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Survival.</u> This Section
 9 shall survive the termination of this Agreement for any reason. In the event the Executive breaches this Section 9, the Company
 shall have right to seek remedies permissible under applicable law.

**10. CONFLICTING EMPLOYMENT**

The Executive hereby agrees that, during the term of his/her employment with the Company, he/she will not engage in any other employment, occupation, consulting or other business activity related to the business in which the Group is now involved or becomes involved during the term of the Executive's employment, nor will the Executive engage in any other activities that conflict with his/her obligations to the Company without the prior written consent of the Company.

**11. NON-COMPETITION AND NON-SOLICITATION**

In consideration of the salary paid to the Executive by the Company and subject to applicable law, the Executive agrees that during the term of the Employment and for a period of one (1) year following the termination of the Employment for whatever reason:

&nbsp;&nbsp;&nbsp;&nbsp;(a) The
Executive will not approach clients, customers or contacts of the Company or other persons or entities introduced to the Executive in
the Executive's capacity as a representative of the Company for the purposes of doing business with such persons or entities which
will harm the business relationship between the Company and such persons and/or entities;

&nbsp;&nbsp;&nbsp;&nbsp;(b) The
Executive will not assume employment with or provide services as a Executive or otherwise for any Competitor, or engage, whether as principal,
partner, licensor or otherwise, in any Competitor; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) The
Executive will not seek, directly or indirectly, by the offer of alternative employment or other inducement whatsoever, to solicit the
services of any employee of the Company employed as at or after the date of such termination, or in the year preceding such termination.

The provisions contained in Section 9 are considered reasonable by the Executive and the Company. In the event that any such provisions should be found to be void under applicable laws but would be valid if some part thereof was deleted or the period or area of application reduced, such provisions shall apply with such modification as may be necessary to make them valid and effective.

This Section 9 shall survive the termination of this Agreement for any reason. In the event the Executive breaches this Section 9, the Executive acknowledges that there will be no adequate remedy at law, and the Company shall be entitled to injunctive relief and/or a decree for specific performance, and such other relief as may be proper (including monetary damages if appropriate). In any event, the Company shall have the right to seek all remedies permissible under applicable law.

**12. WITHHOLDING TAXES**

Notwithstanding anything else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any amounts otherwise due or payable under or pursuant to this Agreement such national, provincial, local or any other income, employment, or other taxes as may be required to be withheld pursuant to any applicable law or regulation.

**13. ASSIGNMENT**

This Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer this Agreement or any rights or obligations hereunder; <u>provided, however</u>, that (i) the Company may assign or transfer this Agreement or any rights or obligations hereunder to any member of the Group without such consent, and (ii) in the event of a merger, consolidation, or transfer or sale of all or substantially all of the assets of the Company with or to any other individual(s) or entity, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder.

**14. SEVERABILITY**

If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of this Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable.

**15. ENTIRE AGREEMENT**

This Agreement constitutes the entire agreement and understanding between the Executive and the Company regarding the terms of the Employment and supersedes all prior or contemporaneous oral or written agreements concerning such subject matter, other than any such agreement under any employment agreement entered into with a subsidiary of the Company at the request of the Company to the extent such agreement does not conflict with any of the provisions herein. The Executive acknowledges that he/she has not entered into this Agreement in reliance upon any representation, warranty or undertaking which is not set forth in this Agreement. Any amendment to this Agreement must be in writing and signed by the Executive and the Company.

**16. GOVERNING LAW AND DISPUTE RESOLUTION**

This Agreement shall be governed by and construed in accordance with the laws of the British Virgin Islands.

**17. AMENDMENT**

This Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly referring to this Agreement, which agreement is executed by both of the parties hereto.

**18. WAIVER**

Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver.

**19. NOTICES**

All notices, requests, demands and other communications required or permitted under this Agreement shall be in writing and shall be deemed to have been duly given and made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, or (iii) sent by a recognized courier with next-day or second-day delivery to the last known address of the other party.

**20. COUNTERPARTS**

This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which together shall constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose.

**21. NO INTERPRETATION AGAINST DRAFTER**

Each party recognizes that this Agreement is a legally binding contract and acknowledges that such party has had the opportunity to consult with legal counsel of choice. In any construction of the terms of this Agreement, the same shall not be construed against either party on the basis of that party being the drafter of such terms. The Executive agrees and acknowledges that he/she has read and understands this Agreement, is entering into it freely and voluntarily, and has been advised to seek counsel prior to entering into this Agreement and has ample opportunity to do so.

*[remainder of this page left intentionally blank]*

IN WITNESS WHEREOF, this Agreement has been executed as of the date first written above.

---

| | |
|:---|:---|
| **Idea Tech Holding Limited** | **Idea Tech Holding Limited** |
| Signature: | */s/ Xiaoke Luo* |
| Name: | Xiaoke Luo |
| Title: | Chairman of the Board of Directors |

---

---

| | |
|:---|:---|
| **Executive** | **Executive** |
| Signature: | */s/ Ho Kit Hui* |
| Name: | Ho Kit Hui |

---

*[Signature Page to Employment Agreement]*

## Exhibit 10.4

**Exhibit 10.4**

**Idea Tech Holding Ltd** 

Room 721, 7/F Cyberport One

100 Cyberport Road

Pokfulam, Hong Kong

Date: _________

**Re: Director Offer Letter for [Independent Director Nominee]**

Dear Mr./Ms. [Independent Director Nominee]:

Idea Tech Holding Limited, a Cayman Islands company with limited liability (the "Company" or "we"), is pleased to offer you a position as an Independent Director of the Company. We believe your background and experience will be a significant asset to the Company and we look forward to your participation as an Independent Director in the Company. Should you choose to accept this position as an Independent Director, this offer letter shall constitute an employment agreement between you and the Company (the "Agreement") and contains all the terms and conditions relating to the services you agree to provide to the Company. Your appointment shall begin immediately upon the Company's listing on the Nasdaq Capital Market (the "Commencement Date").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. <u>Term</u>.** This Agreement is effective on the Commencement Date and shall continue for a period of [●] year from the Commencement Date, subject to the provisions in Section 9 below or until your successor is duly elected and qualified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Services</u>.** You shall render customary services as an Independent Director, chairman of the [●] committee and member of the [●] committee and the [●] committee (hereinafter, your "Duties"). During the term of this Agreement, you may attend and participate at each meeting regarding the business and operation issues of the Company as regularly or specially called, via teleconference, video conference or in person. You shall consult with the members of the Board and committee (if any) regularly and as necessary via telephone, electronic mail or other forms of correspondence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Services for Others</u>.** You shall be free to represent or perform services for other persons during the term of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>Compensation</u>.** As compensation for your services to the Company, you will receive upon effectiveness of this Agreement a compensation of [●] for each calendar year of service under this Agreement, on a pro-rated basis, payable on a monthly basis.

You shall be reimbursed for reasonable expenses incurred by you in connection with the performance of your Duties (including travel expenses for in-person meetings).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>D&O Insurance Policy</u>.** During the term of this Agreement, the Company shall include you as an insured under its officers and directors insurance policy, if available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. <u>No Assignment</u>.** Because of the personal nature of the services to be rendered by you, this Agreement may not be assigned by you without the prior written consent of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. <u>Confidential Information; Non-Disclosure</u>.** In consideration of your access to certain Confidential Information (as defined below) of the Company, in connection with your business relationship with the Company, you hereby represent and agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a. <u>Definition</u>.** For purposes of this Agreement the term "Confidential Information" means: (i) any information which the Company possesses that has been created, discovered or developed by or for the Company, and which has or could have commercial value or utility in the business in which the Company is engaged; (ii) any information which is related to the business of the Company and is generally not known by non-Company personnel; and (iii) Confidential Information includes, without limitation, trade secrets and any information concerning products, processes, formulas, designs, inventions (whether or not patentable or registrable under copyright or similar laws, and whether or not reduced to practice), discoveries, concepts, ideas, improvements, techniques, methods, research, development and test results, specifications, data, know-how, software, formats, marketing plans, and analyses, business plans and analyses, strategies, forecasts, customer and supplier identities, characteristics and agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b. <u>Exclusions</u>.** Notwithstanding the foregoing, the term Confidential Information shall not include: (i) any information which becomes generally available or is readily available to the public other than as a result of a breach of the confidentiality portions of this Agreement, or any other agreement requiring confidentiality between the Company and you; (ii) information received from a third party in rightful possession of such information who is not restricted from disclosing such information; (iii) information known by you prior to receipt of such information from the Company, which prior knowledge can be documented and (iv) information you are required to disclose pursuant to any applicable law, regulation, judicial or administrative order or decree, or request by other regulatory organization having authority pursuant to the law; provided, however, that you shall first have given prior written notice to the Company and made a reasonable effort to obtain a protective order requiring that the Confidential Information not be disclosed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c. <u>Documents</u>.** You agree that, without the express written consent of the Company, you will not remove from the Company's premises, any notes, formulas, programs, data, records, machines or any other documents or items which in any manner contain or constitute Confidential Information, nor will you make reproductions or copies of same. You shall promptly return any such documents or items, along with any reproductions or copies to the Company upon the Company's demand, upon termination of this Agreement, or upon your termination or Resignation (as defined in Section 9 herein).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d. <u>Confidentiality</u>.** You agree that you will hold in trust and confidence all Confidential Information and will not disclose to others, directly or indirectly, any Confidential Information or anything relating to such information without the prior written consent of the Company, except as may be necessary in the course of your business relationship with the Company. You further agree that you will not use any Confidential Information without the prior written consent of the Company, except as may be necessary in the course of your business relationship with the Company, and that the provisions of this paragraph (d) shall survive termination of this Agreement. Notwithstanding the foregoing, you may disclose Confidential Information to your legal counsel and accounting advisors who have a need to know such information for accounting or tax purposes and who agree to be bound by the provisions of this paragraph (d).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**e. <u>Ownership</u>.** You agree that the Company shall own all right, title and interest (including patent rights, copyrights, trade secret rights, mask work rights, trademark rights, and all other intellectual and industrial property rights of any sort throughout the world) relating to any and all inventions (whether or not patentable), works of authorship, mask works, designations, designs, know-how, ideas and information made or conceived or reduced to practice, in whole or in part, by you during the term of this Agreement and that arise out of your Duties (collectively, "**Inventions"**) and you will promptly disclose and provide all Inventions to the Company. You agree to assist the Company, at its expense, to further evidence, record and perfect such assignments, and to perfect, obtain, maintain, enforce, and defend any rights assigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. <u>Non-Solicitation</u>.** During the term of your appointment, you shall not solicit for employment any employee of the Company with whom you have had contact due to your appointment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. <u>Termination and Resignation</u>.** Your services as an Independent Director may be terminated for any or no reason by the determination of the Board. You may also terminate your services as an Independent Director for any or no reason by delivering your written notice of resignation to the Company ("Resignation"), and such Resignation shall be effective upon the time specified therein or, if no time is specified, upon receipt of the notice of resignation by the Company. Upon the effective date of the termination or Resignation, your right to compensation hereunder will terminate, subject to the Company's obligations to pay you any compensation that you have already earned and to reimburse you for approved expenses already incurred in connection with your performance of your Duties as of the effective date of such termination or Resignation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10. <u>Governing Law; Arbitration</u>.** All questions with respect to the construction and/or enforcement of this Agreement, and the rights and obligations of the parties hereunder, shall be determined in accordance with the law of the State of New York. All disputes with respect to this Agreement, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved by arbitration administered by the American Arbitration Association at its New York office in force when the Notice of Arbitration is submitted. The law of this arbitration clause shall be New York law. The seat of arbitration shall be in New York. The number of arbitrators shall be one. The arbitration proceedings shall be conducted in English.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11. <u>Entire Agreement; Amendment; Waiver; Counterparts</u>.** This Agreement expresses the entire understanding with respect to the subject matter hereof and supersedes and terminates any prior oral or written agreements with respect to the subject matter hereof. Any term of this Agreement may be amended and observance of any term of this Agreement may be waived only with the written consent of the parties hereto. Waiver of any term or condition of this Agreement by any party shall not be construed as a waiver of any subsequent breach or failure of the same term or condition or waiver of any other term or condition of this Agreement. The failure of any party at any time to require performance by any other party of any provision of this Agreement shall not affect the right of any such party to require future performance of such provision or any other provision of this Agreement. This Agreement may be executed in separate counterparts each of which will be an original and all of which taken together will constitute one and the same agreement, and may be executed using facsimiles of signatures, and a facsimile of a signature shall be deemed to be the same, and equally enforceable, as an original of such signature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12. <u>Indemnification</u>**. The Company shall, to the maximum extent provided under applicable law, indemnify and hold you harmless from and against any expenses, including reasonable attorney's fees, judgments, fines, settlements and other legally permissible amounts ("Losses"), incurred in connection with any proceeding arising out of, or related to, your performance of your Duties, other than any such Losses incurred as a result of your gross negligence or willful misconduct. The Company shall advance to you any expenses, including reasonable attorneys' fees and costs of settlement, incurred in defending any such proceeding to the maximum extent permitted by applicable law. Such costs and expenses incurred by you in defense of any such proceeding shall be paid by the Company in advance of the final disposition of such proceeding promptly upon receipt by the Company of (a) written request for payment; (b) appropriate documentation evidencing the incurrence, amount and nature of the costs and expenses for which payment is being sought; and (c) an undertaking adequate under applicable law made by or on your behalf to repay the amounts so advanced if it shall ultimately be determined pursuant to any non-appealable judgment or settlement that you are not entitled to be indemnified by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13. <u>Acknowledgement</u>.** You accept this Agreement subject to all the terms and provisions of this Agreement. You agree to accept as binding, conclusive, and final all decisions or interpretations of the directors of the Company of any questions arising under this Agreement.

The Agreement has been executed and delivered by the undersigned and is made effective as of the date set first set forth above.

---

| | |
|:---|:---|
| Sincerely, |  |
| **Idea Tech Holding Limited** | **Idea Tech Holding Limited** |
| By: | */s/ Xiaoke Luo* |
| Name: | Xiaoke Luo |
| Title: | Chairman of the Board |

---

---

| |
|:---|
| **AGREED AND ACCEPTED:** |
| */s/ [Name of Independent Director Nominee]* |
| [Name of Independent Director Nominee] |
| Address: [●] |
| Phone number: [●] |
| Email: [●] |

---

## Exhibit 10.5

**Exhibit 10.5**

**Hardware Procurement Agreement**

This Hardware Procurement Agreement (the "**Agreement**") is entered into as of [date], by and between:

&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>ASK Idea (Hong Kong) Limited, located</u> at Unit 721, 7/F,
Cyberport 1, 100 Cyberport Road, Pok Fu Lam, Hong Kong (the "**Party A** "), and

(2) [●], a [School/Company] located at [address] (the "**Party B** ")

for the procurement of hardware to support [specific purpose, e.g., educational items, programming items, training items...]. Party A and Party B are collectively referred to as the "Parties."

1. Mutual Consent: This Agreement is legally binding. Its contents
may be amended upon mutual agreement of both Parties.

2. Hardware Provision: Party A shall supply the hardware listed
in the attached written Quotation Schedule, including but not limited to: item descriptions, specifications, quantities, unit prices,
total amount, and any applicable accessories, software, or tools. The Quotation Schedule shall also set forth any additional terms relating
to delivery, invoicing, payment period, and payment instructions that may not be expressly detailed in this Agreement.

3. Responsibilities of Party A:

&nbsp;&nbsp;&nbsp;&nbsp;3.1. Specifications and Delivery: Party A shall ensure that all hardware
meets the specifications outlined in the Quotation Schedule and is delivered to Party B by [delivery date] in good working condition.

&nbsp;&nbsp;&nbsp;&nbsp;3.2. Compliance with Laws: Party A shall ensure that all hardware
and its usage comply with Hong Kong laws and regulations, including safety and technical standards.

4. Responsibilities of Party B: Party B shall provide a suitable
storage and operational environment for the hardware and ensure proper setup for its intended use.

5. Payment: Party B shall settle payment within [30 days] of delivery
or receipt of invoice. Cheques shall be made payable to Party A, with the invoice number written on the back, and sent to Party
A's address.

6. Insurance: Party A shall maintain valid third-party liability
insurance covering the hardware during delivery and initial setup.

7. Warranty and Maintenance: Party A shall provide a warranty for
the hardware for [duration, e.g., 12 months] from the delivery date, covering defects in materials or workmanship. Any maintenance or
repair terms shall be specified in the quotation.

8. Confidentiality: Party B shall not disclose the terms, pricing,
or other details of this Agreement to third parties without Party A's consent.

9. General Terms and Conditions: Both Party A and Party B agree
to abide by the general terms and conditions of this Agreement as stated below:

&nbsp;&nbsp;&nbsp;&nbsp;9.1. Delivery and Acceptance: Party B shall inspect the hardware
upon delivery and notify Party A of any defects or discrepancies within [7 days]. Failure to notify shall constitute acceptance of the
hardware.

&nbsp;&nbsp;&nbsp;&nbsp;9.2. Liability: Party A shall be liable only for damages or issues
directly caused by defects in the supplied hardware. Party A shall not be responsible for damages arising from misuse or improper handling
by Party B.

&nbsp;&nbsp;&nbsp;&nbsp;9.3. National Security Compliance: Party A shall ensure that its
employees, agents, and any persons involved in the delivery or setup of hardware comply with the National Security Law of the Hong Kong
Special Administrative Region and other applicable Hong Kong laws. Non-compliance grants Party B the right to terminate this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;9.4. Anti-Bribery Compliance: Party A shall comply with the Prevention
of Bribery Ordinance (Cap. 201). Neither Party A, its employees, nor its agents shall offer advantages (as defined under the Ordinance)
to Party B's employees, school board members, or parent/student representatives involved in this Agreement. Any violation may render
the Agreement void, and Party A shall be liable for any losses or damages incurred by Party B.

&nbsp;&nbsp;&nbsp;&nbsp;9.5. Execution: This Agreement is made in duplicate, with each Party
retaining one copy. It takes effect immediately upon signing.

ASK Idea (Hong Kong) Limited 

Date: 

[●] 

Date: 

Quotation Schedule

---

| | |
|:---|:---|
| ![](ex10-5_001.jpg) | TEL：2503 3018<br> Unit 721, 7/F, Cyberport 1, 100 Cyberport Road, Pok Fu Lam, Hong FAX：2503 3800 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;日期:<br> Date: | &nbsp;&nbsp;[●] | &nbsp;&nbsp;[●] | <br> <u>報價<br> Quotation</u> | <br> <u>報價<br> Quotation</u> |
| &nbsp;&nbsp;單號:<br> Quo#: | &nbsp;&nbsp;[●] | &nbsp;&nbsp;[●] | <br> <u>報價<br> Quotation</u> | <br> <u>報價<br> Quotation</u> |
| &nbsp;&nbsp;學校/機構:<br> School/ Organization: | &nbsp;&nbsp;學校/機構:<br> School/ Organization: | &nbsp;&nbsp;[●] | <br> <u>報價<br> Quotation</u> | <br> <u>報價<br> Quotation</u> |
| &nbsp;&nbsp;聯絡人:<br> Contact Person: | &nbsp;&nbsp;聯絡人:<br> Contact Person: | &nbsp;&nbsp;[●] | &nbsp;&nbsp;負責人:<br> Salesperson: | &nbsp;&nbsp;[\*Head of ASK's MD] |
| &nbsp;&nbsp;聯絡電話:<br> Contact Number: | &nbsp;&nbsp;聯絡電話:<br> Contact Number: | &nbsp;&nbsp;[●] | &nbsp;&nbsp;Stamp: |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;貨品編號 <br> Item Code: | &nbsp;&nbsp;貨品<br> Item | &nbsp;&nbsp;摘要<br> Description | &nbsp;&nbsp;單價<br> Unit Price | &nbsp;&nbsp;數量<br> Quantity | &nbsp;&nbsp;總額<br> Total |

| &nbsp;&nbsp;1011 | &nbsp;&nbsp;RoboMaster S1/ EP 電池<br> RoboMaster S1/ EP Battery | &nbsp;&nbsp;為 RoboMaster 特別打造的 3 芯 4.2 V 高電壓電池，使用高能量密度鋰離子電芯，額定容量高達 25.92 Wh，提供 35 分鐘\*的強勁續航，最長待機時長約 100 分鐘。 | &nbsp;&nbsp;[●] | &nbsp;&nbsp;1 piece |  |
|  |  | &nbsp;&nbsp;A specially designed 3-cell 4.2V high-voltage battery for RoboMaster, using high-energy density lithium-ion cells, has a rated capacity of up to 25.92 Wh, providing a strong endurance of 35 minutes\* and a maximum standby time of approximately 100 minutes. |  |  |  |

---

Quotation 報價單

1 / 3

---

| | |
|:---|:---|
| ![](ex10-5_001.jpg) | TEL：2503 3018<br> Unit 721, 7/F, Cyberport 1, 100 Cyberport Road, Pok Fu Lam, Hong FAX：2503 3800 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;1065 | &nbsp;&nbsp;Hula 無人機套裝<br> Hula Drone Kit | &nbsp;&nbsp;套裝包括：<br> 1 x 飛行器 <br> 8 x 螺旋槳 <br> 8 x 槳葉保護罩 <br> 2 x 電池 <br> 1 x 充電器<br>The kit includes: <br> 1 x Aircraft <br> 8 x Propellers <br> 8 x Propeller Guards <br> 2 x Batteries <br> 1 x Charger | &nbsp;&nbsp;[●] | &nbsp;&nbsp;1 Set |
| &nbsp;&nbsp;1066 | &nbsp;&nbsp;Hula 無人機電池<br> Hula Drone Battery | &nbsp;&nbsp; 容量：1200mAh<br> 電壓 ：3.8V<br> 類型 ：鋰離子電池<br> 重量： 31g<br> 貯存溫度：建議25-28度，避免陽光直射<br>Capacity: 1200mAh<br> Voltage: 3.8V<br> Type: Lithium-ion battery<br> Weight: 31g<br> Storage Temperature: Recommended 25-28 degrees Celsius, avoid direct sunlight. | &nbsp;&nbsp;[●] | &nbsp;&nbsp;1 piece |
| &nbsp;&nbsp;1067 | &nbsp;&nbsp;Hula 全方位保護罩<br> Hula Full Propeller Guard | &nbsp;&nbsp;尺寸：183.6\*188.3\*16mm <br> 材質：PA<br>Dimensions: 183.6 x 188.3 x 16 mm <br> Material: PA (Polyamide) | &nbsp;&nbsp;[●] | &nbsp;&nbsp;1 piece |

---

Quotation 報價單

2 / 3

---

| | |
|:---|:---|
| ![](ex10-5_001.jpg) | TEL：2503 3018<br> Unit 721, 7/F, Cyberport 1, 100 Cyberport Road, Pok Fu Lam, Hong FAX：2503 3800 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;<br>1074 | &nbsp;&nbsp;<br>Hula 遙控器<br> Beginner Remote Controller | &nbsp;&nbsp;尺寸：178 \*150\*64mm <br> 重量：167g (不含電池) <br> 工作電壓：6V (4節5號電池)<br> 遙控距離：<70m <br> 工作頻段：2.4GHz/5GHz <br> 工作溫度：0-50°C <br> 工作濕度：5-90% <br> 材質：ABS 不包括串流顯示功能 支援一鍵起飛/一鍵降落 <br> 支持紅外發射 <br> 支援電量顯示<br>Beginner Remote Controller Specifications：<br> - Dimensions: 178 x 150 x 64 mm<br> - Weight: 167g (excluding battery)<br> - Operating Voltage: 6V (4 AA batteries)<br> - Remote Control Distance: <70m<br> - Frequency Band: 2.4GHz/5GHz<br> - Operating Temperature: 0°C to 50°C<br> - Operating Humidity: 5% to 90%<br> - Material: ABS<br> - Display: Equipped with OLED screen<br> - Features:<br> - Supports one-touch takeoff/landing<br> - Supports infrared emission<br> - Displays battery level | &nbsp;&nbsp;[●] | &nbsp;&nbsp;1 piece |
| &nbsp;&nbsp;\*\*\* |  |  |  |  |
|  |  |  | &nbsp;&nbsp;**Total Amount:** | &nbsp;&nbsp;**Total Amount:** |

---

<u>總金額大寫：</u> <u>港幣</u> <br> <u>Say：</u> <u>HK Dollar</u> <br>

---

| | |
|:---|:---|
| &nbsp;&nbsp; NOTES：<br> 註一: 報價有效期為30天<br> Note 1: Quotation is valid for 30 days.<br> 註二: 學校代表可於右方簽署及蓋印以落實有關訂單<br> The school/Organization representative may sign and seal on the right to confirm the order.<br> 註三: 付款方式：現金/支票<br> Note 3: Payment Methods: Cash / Cheque | &nbsp;&nbsp;學校/機構School/Organization<br> 代表簽署及蓋印:<br> Representative Signature and Stamp:<br>|
| &nbsp;&nbsp; NOTES：<br> 註一: 報價有效期為30天<br> Note 1: Quotation is valid for 30 days.<br> 註二: 學校代表可於右方簽署及蓋印以落實有關訂單<br> The school/Organization representative may sign and seal on the right to confirm the order.<br> 註三: 付款方式：現金/支票<br> Note 3: Payment Methods: Cash / Cheque | &nbsp;&nbsp;職銜 (Title): |

---

<u>銷售: <br> Salesman : </u>   <u>日期 (Confirmation Date):</u>  

Quotation 報價單

3 / 3

## Exhibit 10.6

**Exhibit 10.6**

**Drone Programming Course Service Agreement**

This Drone Programming Course Service Agreement (the "**Agreement**") is entered into between:

(1) <u>ASK Idea (Hong Kong) Limited, located</u> at Unit 721,
7/F, Cyberport 1, 100 Cyberport Road, Pok Fu Lam, Hong Kong (the "**Party A** "), and

(2) [●], a School/Company, located at [●] (the "**Party B** ")

for the joint organization and delivery of the Drone Programming Course (the "**Course**"). Party A and Party B are collectively referred to as the "Parties."

1. Mutual Consent: This Agreement is legally binding. Its contents
may be amended upon mutual agreement of both Parties.

2. Course Design and Instruction: Party A shall be responsible
for designing the Course and providing qualified tutors to conduct the lessons.

3. Course Details: The Course shall be conducted in accordance
with the written quotation schedule provided by Party A and accepted by Party B. The key terms are summarized as follows:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Items | &nbsp;&nbsp;Description/Specification: | &nbsp;&nbsp;Remarks |
| &nbsp;&nbsp;Course Name | &nbsp;&nbsp;Drone Programming Course |  |
| &nbsp;&nbsp;Duration | &nbsp;&nbsp;[●] |  |
| &nbsp;&nbsp;Total Sessions | &nbsp;&nbsp;23 sessions (20 instructional sessions + 3 sessions for talent show training) |  |
| &nbsp;&nbsp;Academic Year | &nbsp;&nbsp;2024-2025 |  |
| &nbsp;&nbsp;Class Dates | &nbsp;&nbsp;To be determined |  |
| &nbsp;&nbsp;Time Slots | &nbsp;&nbsp;To be determined (90 minutes per session) |  |
| &nbsp;&nbsp;Target Group | &nbsp;&nbsp;Students in Grades 4 to 6 |  |
| &nbsp;&nbsp;Group Size | &nbsp;&nbsp;12 students per group |  |
| &nbsp;&nbsp;Equipment to be Provided by School | &nbsp;&nbsp;Drones, batteries, battery manager, iPads, glowing drone performance mat, UV lights, router, etc. |  |
| &nbsp;&nbsp;Unit Price | &nbsp;&nbsp;HK$[●] per student (for 23 sessions) |  |
| &nbsp;&nbsp;Total Price | &nbsp;&nbsp;HK$[●] (for 12 students) |  |

---

4. Venue and Equipment: Party B shall provide a suitable venue
for the Course and the necessary hardware, including [Tello Talent drones, HuLa, power sources, chargers, protective covers, laptops,
tablets/iPads, and routers]. The required applications must be installed on the tablets/iPads.

5. Student Coordination: Party B shall coordinate student participation,
ensure timely attendance, and provide follow-up support throughout the Course.

6. Insurance: Party A shall purchase valid labor insurance and
third-party liability insurance for its employees during the Course period.

7. Compliance with Labor Laws: Party A shall ensure all employees
and contractors comply with Hong Kong labor laws and other relevant regulations.

8. Confidentiality: Party A's tutors are responsible solely
for teaching. Party B shall not disclose the contents or fees of this Agreement. All communications regarding fees or administrative
matters must be directed to Party A.

9. General Terms and Conditions: Both Party A and Party B agree
to abide by the general terms and conditions of this Agreement as stated below:

&nbsp;&nbsp;&nbsp;&nbsp;9.1. Payment Terms: Party B shall settle payment within one
(1) month following Course completion. Cheques shall be made payable to Party A, with the invoice number written on the back,
and sent to Party A's address.

&nbsp;&nbsp;&nbsp;&nbsp;9.2. Tutor Qualifications: Party A's tutors shall possess
professional qualifications for operating relevant drones, adhere to Party A's coaching guidelines, and maintain professional standards.

&nbsp;&nbsp;&nbsp;&nbsp;9.3. Schedule Changes: Class dates and times may be adjusted with
mutual consent with at least one (1) day's prior notice.

&nbsp;&nbsp;&nbsp;&nbsp;9.4. Liability: Party A shall only be liable for damages or injuries
directly resulting from the actions or omissions of its instructors or staff. Party A shall not be liable for unrelated incidents.

&nbsp;&nbsp;&nbsp;&nbsp;9.5. Non-Disclosure of Course Content: Party B shall not publicly
disclose or use the course content for private solicitation.

&nbsp;&nbsp;&nbsp;&nbsp;9.6. Tutor Absence: If a tutor is absent or late for any reason,
no fee shall be charged for the affected session or a pro-rata fee will be deducted. If a tutor is absent due to personal or sick leave,
Party A shall arrange a substitute tutor or reschedule the session.

&nbsp;&nbsp;&nbsp;&nbsp;9.7. Background Checks: Party A's tutors shall have passed
sexual conviction record checks and have no history of sexual offenses. Party B is authorized to verify these results.

&nbsp;&nbsp;&nbsp;&nbsp;9.8. Health Compliance: Party A's tutors must comply with
vaccination and health testing requirements as mandated by the Education Bureau of Hong Kong.

&nbsp;&nbsp;&nbsp;&nbsp;9.9. Adverse Weather Arrangements: In case of adverse weather,
the course will proceed according to Party B's safety measures. If Party B requests a make-up session, the date and time shall
be mutually agreed upon, and Party B shall notify participating students accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;9.10. Course Cancellation Due to Weather: If Typhoon Signal No.
3 or higher, or a Red/Black Rainstorm Warning is issued by the Hong Kong Observatory after 7:00 a.m. on the day of the session, that
session will be cancelled.

&nbsp;&nbsp;&nbsp;&nbsp;9.11. Pandemic or Special Circumstances: If in-person classes are
suspended due to Education Bureau directives or other exceptional circumstances, Party A shall, at Party B's request, switch to
online real-time instruction (same day and time slot) or cancel the session and refund the full session fee to participating students,
at Party B's discretion.

&nbsp;&nbsp;&nbsp;&nbsp;9.12. Course dates shall be finalized in coordination with Party
B. &nbsp;&nbsp;&nbsp;&nbsp;9.13. National Security Compliance: Party A shall ensure that its
employees, agents, and any persons permitted to enter the venue during the service period comply with the National Security Law of the
Hong Kong Special Administrative Region and other applicable Hong Kong laws. Non-compliance grants Party B the right to terminate this
Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;9.14. Anti-Bribery Compliance: Party A shall comply with the Prevention
of Bribery Ordinance (Cap. 201). Neither Party A, its employees, nor its agents shall offer advantages (as defined under the Ordinance)
to Party B's employees, school board members, or parent/student representatives involved in this Agreement. Any violation may render
the Agreement void, and Party A shall be liable for any losses or damages incurred by Party B.

&nbsp;&nbsp;&nbsp;&nbsp;9.15. Execution: This Agreement is made in duplicate, with each
Party retaining one copy. It takes effect immediately upon signing.

█ Signed and Stamped by Party A:

ASK Idea (Hong Kong) Limited

_________________________

Date:

█ Signed and Stamped by Party B:

[●]

_________________________

Date:

## Exhibit 10.7

**Exhibit 10.7**

**iFlight Technology Company Limited**

**and**

**ASK Idea (Hong Kong) Limited**

**DEALERSHIP AGREEMENT**

Dated as of 20[●]/01/01

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **1 DEFINITIONS** | **1** |
| **2 GENERAL RELATIONSHIP BETWEEN PARTIES** | 3 |
| 2.1 APPOINTMENT OF DEALER | 3 |
| 2.2 ADVISORY RESPONSIBILITIES | 3 |
| **3 PURCHASE OF PRODUCTS** | **3** |
| 3.1 ORDER PROCEDURE | 3 |
| 3.2 CANCELLATION OF ORDERS | 4 |
| 3.3 MINIMUM INVENTORY REQUIREMENT | 4 |
| 3.4 PURCHASE PRICE | 4 |
| 3.5 PAYMENT | 4 |
| 3.6 TRADE TERMS | 7 |
| 3.7 TARIFF CLASSIFICATION | 8 |
| 3.8 PACKING | 9 |
| 3.9 DELIVERY, TITLE, AND RISK OF LOSS | 9 |
| 3.10 INSPECTION AND ACCEPTANCE | 9 |
| 3.11 VALIDITY OF THE CREDIT NOTE | 10 |
| **4 MARKETING AND SALES OF PRODUCTS** | **10** |
| 4.1 MARKETING AND ONLINE SALES | 10 |
| 4.2 SALES OF PRODUCTS | 10 |
| 4.3 SUBDEALER | 11 |
| 4.4 SALES AND PROMOTIONS IN FREE AREA | 12 |
| 4.5 SALES RESTRICTIONS | 12 |
| 4.6 INSURANCE | 12 |
| **5 EXPORT CONTROLS** | **12** |
| 5.1 EXPORT CONTROL LAWS | 12 |
| 5.2 COMPLIANCE | 13 |
| 5.3 VIOLATIONS | 13 |
| **6 RECORDKEEPING AND DATA TRANSMISSION** | **13** |
| 6.1 RECORDKEEPING | 13 |
| 6.2 DATA TRANSMISSION | 13 |
| 6.3 COMPLIANCE | 13 |
| **7 AFTER-SALE SERVICES** | **14** |
| 7.1 PRODUCTS SOLD TO END-USERS | 14 |
| 7.2 PRODUCTS SOLD TO SUBDEALERS | 15 |
| 7.3 SPARE PARTS | 16 |
| 7.4 AFTER-SALE POLICIES AND STATUTORY OBLIGATIONS | 16 |
| 7.5 AFTER-SALES SERVICE OF DJI DOCK | 16 |
| **8 PROMOTING AND TRAINING THE DEALER** | **16** |
| 8.1 PROMOTING THE DEALER | 16 |
| 8.2 TRAINING THE DEALER | 17 |
| **9 INTELLECTUAL PROPERTY** | **17** |
| 9.1 OWNERSHIP | 17 |
| 9.2 TRADEMARK LICENSE GRANT | 17 |
| 9.3 PROHIBITED ACTS | 17 |

---

i

---

| | |
|:---|:---|
| **10 REPRESENTATIONS AND WARRANTIES** | **18** |
| 10.1 PRODUCT WARRANTY | 18 |
| 10.2 DEALER'S REPRESENTATIONS AND WARRANTIES | 18 |
| 10.3 COMPANY'S REPRESENTATIONS AND WARRANTIES | 18 |
| **11 LIABILITY, INDEMNIFICATION AND FORCE MAJEURE** | **18** |
| 11.1 LIABILITY FOR BREACH OF AGREEMENT | 18 |
| 11.2 MATERIAL BREACH | 19 |
| 11.3 LIMITATION OF LIABILITY | 19 |
| 11.4 INDEMNIFICATION | 19 |
| 11.5 FORCE MAJEURE | 20 |
| **12 AMENDMENT OF THE AGREEMENT** | **20** |
| 12.1 AMENDMENT BY THE COMPANY | 20 |
| 12.2 AMENDMENT BY THE DEALER | 20 |
| **13 TERM AND TERMINATION** | **20** |
| 13.1 TERM | 20 |
| 13.2 TERMINATION | 21 |
| 13.3 EFFECTS OF TERMINATION | 21 |
| **14 GOVERNING LAW AND DISPUTE RESOLUTION** | **21** |
| 14.1 GOVERNING LAW | 21 |
| 14.2 DISPUTE RESOLUTION | 21 |
| **15 MISCELLANEOUS** | **22** |
| 15.1 CONFIDENTIAL INFORMATION | 22 |
| 15.2 EQUITABLE REMEDIES | 22 |
| 15.3 INTERPRETATION | 22 |
| 15.4 ASSIGNMENT | 22 |
| 15.5 WAIVER | 23 |
| 15.6 SEVERABILITY | 23 |
| 15.7 RELATIONSHIP | 23 |
| 15.8 EFFECTIVE AND COUNTERPARTS | 23 |
| 15.9 NOTICE | 23 |
| 15.10 APPLICATION OF AGREEMENT | 24 |
| 15.11 ENTIRE AGREEMENT | 24 |
| **SCHEDULE A: PRODUCTS FOR RESALE** | 25 |
| **SCHEDULE B: COMMITMENT ON COMPLIANCE** | **26** |
| **SCHEDULE C: TERMS OF AFTER-SALES SERVICES OF DJI DOCK** | **27** |

---

ii

**DEALERSHIP AGREEMENT**

This Dealership Agreement (the **"Agreement"**) is made and entered into

---

| | |
|:---|:---|
| **BETWEEN:** | **iFlight Technology Company Limited** (the"Company"), a company registered in Hong Kong having its principal place of business at: Units 915-916, 9/Building 16W, Science Park West Avenue, Phase Three, Hong Kong Science Park, Pak Shek Kok, N.T. |

---

---

| | |
|:---|:---|
| **AND:** | **ASK Idea (Hong Kong) Limited** (the **"Dealer"**), a company registered in Hong Kong, having its principal place of business at: Rm 721, Block 1, Floor 7, Cyberport 100. |

---

Respectively as a **"Party", and** collectively as the **"Parties"**.

WHEREAS, the Company manufactures and sells the products in Schedule A, the **"Products"**, and the Dealer wishes to become an authorized dealer of the Company, purchase the Products, and distribute them in the Territory. NOW THEREFORE, the Parties agree as follows:

**1 <u>DEFINITIONS</u>**

Capitalized terms used have the meanings set forth in this Section 1 unless the context requires otherwise.

**"Affiliate"** means any person or entity that directly or indirectly Controls, is Controlled by, or is under common Control with a person or entity.

**"After-sale Service"** means all refund, replacement, or repair services for the Products within or beyond the warranty period.

**"Business Day"** means a day other than a Saturday, Sunday or bank or other public holiday of the People's Republic of China*.*

**"Commercial Invoice"** or **"CI"** means an itemized statement issued by the Company that is used for reconciliation and indicates money owed for Products shipped to the Dealer, price, and payment terms.

**"Control"** means the power to direct the management or decisions of a person or entity whether through (a) the ownership of voting stock, including the direct or indirect ownership of 50% or more of the shares carrying the right to vote; or (b) the ability to appoint a majority of the board of directors or equivalent management body of such person or entity; or (c) any other means.

**"Credit Note"** or **"CN"** means a document issued by the Company to the Dealer that can be applied to offset balance due owed by the Dealer to the Company.

**"Customer"** means an End-User or a Subdealer.

**"Effective Date"** means 20[●]-01-01.

**"End-User"** means the final purchaser or lessee who has acquired a Product for its own use and not for resale.

**"Free Area"** means an area where the Company has not appointed any exclusive dealer of the Products.

"Intellectual Property Rights" means all intellectual property rights related to the Company's products, research and development documents, product manuals, user's manuals, packaging designs, including all patents, patent applications, unfiled innovations, designs, expressions, models, trademarks, service marks, logos or other commercial designations, copyright and related rights, trade, business, product and domain names, database rights, and any other similar rights. The unfiled innovations include but are not limited to computer software, program codes, flow charts, logic diagrams, circuit schematics, PCB boards, and the design documents thereof, integrated circuits and the design documents thereof.

**"Non-Disclosure Agreement"** means the Non-Disclosure Agreement entered into by the Parties with the Company's Contract No. [●].

**"Pending Replacement Case"** means any case where an End-User files a request for Product replacement due to alleged product quality issues.

**"Proof of Delivery"** or **"POD"** means a receipt signed by the Dealer or the Dealer's designated person confirming the delivery of shipment.

**"Pro forma Invoice"** or **"PI"** means a document titled "Ro forma Invoice" issued by the Company upon confirmation of the Dealer's purchase order, stating the payment term, items, quantity, price, total amount, discount if applicable and the Company's bank account.

**"Schedule"** means schedules attached to this Agreement.

**"Subdealer"** means any distributor appointed by the Dealer within the Territory for reselling the Products.

**"Section"** means a section of this Agreement.

**"Term"** means the period of time that commences on the Effective Date and ends on the Termination Date.

**"Termination Date"** means the earlier of (a) 20[●]-12-31 and (b) the date of termination according to Section 13(Term and Termination).

**"Territory"** means the following geographic area: Hong Kong, China.

**2 <u>GENERAL RELATIONSHIP BETWEEN PARTIES</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**2.1** **APPOINTMENT OF DEALER** 

The Company hereby appoints the Dealer, and the Dealer accepts the appointment, to be a non-exclusive dealer of the Products to Customers within the Territory during the Term in accordance with this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;**2.2** **ADVISORY RESPONSIBILITIES** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.1** The Company will serve as an advisory role to the Dealer on
resale, promotions, services, and distribution of the Products within the Territory, and may provide reasonable improvement suggestions
on such matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.2** The Dealer will serve as an advisory role to the Company on
services, quality control, and marketing and promotions of the Products, and may provide reasonable improvement suggestions on such matters.

**3 <u>PURCHASE OF PRODUCTS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**3.1** **ORDER PROCEDURE** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.1** **Order Placement.** The Dealer must state the name and quantity
of Products in a purchase order in written form (the "**Purchase Order** "). The Company has the right to consider the
proposed delivery date and the Company's inventory level, and determine the delivery date or delivery period. Any variations made
to the provisions of this Agreement in any Purchase Order are void and have no effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.2** **Acceptance of Purchase Order.** The Company may, in its
sole discretion, accept or reject any part of or the entire Purchase Order. A Pro forma Invoice will be automatically generated once
a Purchase Order is submitted and can be downloaded by the Dealer. If there is any conflict between the Purchase Order and the Pro forma
Invoice, the Pro forma Invoice should prevail. For Prepayment orders, the Purchase Order will be considered to be accepted when the full
payment has been made and the Company has applied such payment to the corresponding order. For Purchase Orders under Payment Terms other
than Prepayment, such Purchase Order will be considered to be accepted upon submission.

The Dealer should check its email or dealer portal in timely manner, and notify the Company of any incorrect information provided by the Company via email or on the dealer portal within two (2) Business Days upon receipt of such notice. Without timely written notice of the Dealer, such information should be deemed accepted by the Dealer and the Company shall not assume any responsibility for any loss, liability, damage or consequence resulted from the incorrect information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.4** Changes in Design or Construction. The Company reserves the
right in its sole discretion to change the design or manufacture of the Products described in the Pro forma Invoices, provided that the
Products as changed meet the performance specifications, if any.

&nbsp;&nbsp;&nbsp;&nbsp;**3.2** **CANCELLATION OF ORDERS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2.1** **Modification of Orders.** Either Party is entitled to modify
or cancel a Purchase Order before such Purchase Order is accepted by the Company in accordance with this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2.2** **Company's Cancellation.** The Company may, without incurring
any liability, cancel any Purchase Order accepted by the Company, in whole or in part, if the Products are in short supply, the Company
discontinues its sale of Products or if the Company determines the Dealer violates its payment obligations or materially breaches this
Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2.3** **Dealer's Cancellation.** Unless approved by the Company
in writing, the Dealer may not cancel any Purchase Order that has been accepted by the Company. If the Company approves the Dealer's
proposed cancellation, the Dealer must be responsible for all expenses and costs incurred by the Company related to the cancellation.

&nbsp;&nbsp;&nbsp;&nbsp;**3.3** **MINIMUM INVENTORY REQUIREMENT** 

The Dealer must purchase and maintain at all times adequate inventory of each Product and at least one of each model for the purpose of demonstration and training.

&nbsp;&nbsp;&nbsp;&nbsp;**3.4** **PURCHASE PRICE** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4.1** **Tax Excluded.** The Dealer will pay all customs, duties,
tariffs, fees, fines, assessments, and taxes of any kind imposed on the Products, including but not limited to, sales and use taxes,
value-added taxes, ad valorem taxes, and any other taxes or fees assessable by any jurisdiction whatsoever(collectively, the "**Taxes** ").
The Company may charge the Dealer any Taxes that the Company is legally obligated to charge unless the Dealer provides the Company with
an exemption certificate or equivalent information that is acceptable to the relevant taxing authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4.2** **Expenses and Fees Excluded.** The price set forth in Pro
forma Invoice, otherwise expressly stipulated by the Parties, does not include delivery, insurance, or any other fees or charges, which
must be borne by the Dealer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4.3** **Price Changes.** The Company reserves the right, in its
sole discretion, to determine and change prices and discounts applicable to the Products. The Company must give written notice to the
Dealer of any price change prior to the effective date of the price change. All orders confirmed by the Company in writing prior to that
effective date are not subject to the price changes.

&nbsp;&nbsp;&nbsp;&nbsp;**3.5** **PAYMENT** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.1** **Payment Start Date.** Except for prepayment, the start
date (the **"Payment Start Date"**) used to count and determine the payment due date for every transaction is:

☐ **CI Date:** the date specified by the Company in CI.

☐ EX-Works Date: the date specified on the transportation files of freight carriers.

☐ **POD Date:** the date when the Dealer or the Dealer's designated person signs the POD.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.2** **Payment Schedule.** Unless otherwise agreed by both Parties
in the Purchase Order, the payment term designated for every transaction (the "**Payment Term"**) is as follows. The Company
reserves the right, in its sole discretion, to decide whether or not to authorize any Payment Term to the Dealer.

---

| |
|:---|
| &nbsp;&nbsp; **√Prepayment**<br> Payment is made prior to the shipment of the Products and within three Business Days of the Dealer's receipt of the Pro forma Invoice issued by the Company. |
| &nbsp;&nbsp; ☐ **%Prepayment ()% Days**<br> The Dealer must make a prepayment equals to % of the total value of the order confirmed by the Company. The prepayment amount applies to each shipment proportionally if the order is fulfilled by multiple shipments. The remaining payment is due in days after the Payment Start Date of a shipment. |
| &nbsp;&nbsp; ☐ **NET Days**<br> Payment is due in days after the Payment Start Date. |
| &nbsp;&nbsp; ☐ **DP—NET Days**<br> Payment is due in days after the Payment Start Date or due on the date of vessel arrival at the destination port, whichever is earlier. The Dealer must settle |

---

---

| |
|:---|
| &nbsp;&nbsp;the payment and other due/overdue balance (if any) before the Company releases the bills of lading and the Dealer can take delivery of the Products. If the Dealer fails or refuses to pay, the Company has the right to recover the Products and resell them. |
| &nbsp;&nbsp; **□ D/P— %Prepayment()%-Days**<br> The Dealer must make a prepayment equals to %of the total value of the order confirmed by the Company. The prepayment amount applies to each shipment proportionally if the order is fulfilled by multiple shipments. The remaining payment is due in days after the Payment Start Date of a shipment or due on the date of vessel arrival at the destination port, whichever is earlier. The Dealer must settle the remaining payment and other due/overdue balance (if any) before the Company releases the bills of lading and the Dealer can take delivery of the Products. If the Dealer fails or refuses to pay, the Company has the right to recover the Products and resell them. |
| &nbsp;&nbsp;☐ **Other(please specify<u>)</u>**<u> </u> |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.3** **Payment Method.** Payment must be made in the currency
of USD by telegraphic transfer to a bank account stated in the Pro forma Invoice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.4** **Application of Payment** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.4.1** **Specify the PI or CI Numbers.** The Dealer must specify
PI or CI numbers in all payments made to the Company. The Company will apply the payments to invoices according to the CI or PI specified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.4.2** **No Write-off.** The Dealer must make all payments on time,
and may not write off or deduct the amount unless agreed by the Company in writing. If there is any dispute between the Parties, the
Dealer is still obliged to make full payments and may not withhold any disputed amount. After the Parties settle the dispute, if the
Company or other third party is liable for the disputed amount, the liable party must refund or pay the Dealer the amount promptly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.5** **Statement of Account** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.5.1** The Company may provide a statement of account that states any
unpaid invoices, disputed amount, or Credit Notes issued and outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.5.2** The Dealer must confirm the statement of account by email or
inquiry about the statement of account within ten Business Days(the "**Reply Period"**) after receiving the statement
of account. Otherwise, the Dealer is deemed to have accepted the statement of account when the Reply Period expired.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.6** **Late Payment** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.6.1** If any payment is due on a Saturday, Sunday, or a national holiday,
it is deemed to be paid on the next Business Day. The Company is entitled to deduct any due payment from the Dealer's account, including
but not limited to deposit, account payable, paid payment for other orders, Credit Notes, if the Dealer fails to make the payment within
30 calendar days upon the due date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.6.2** If the Dealer fails to make any payment on the due date, the
Company has the right to charge the Dealer an interest rate of 0.05% on the overdue amount per day or the maximum interest rate permitted
by applicable laws if the maximum interest rate is lower than 0.05% per day. In addition, the Dealer is liable for all costs, incurred
by the Company, including but not limited to court fees, arbitration fees, and reasonable attorney's fees, arising out of collecting
the amounts due.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.6.3** The Company reserves the right to change the Payment Term with
written notices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.7** **Security Interest** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.7.1** Until all payments are made in full for all accounts receivable
to which the Company is entitled, to secure the Dealer's prompt payment, the Dealer grants the Company a first-priority purchase-money
security interest in all Products purchased under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5.7.2** The Company may file a financing statement for the security
interest and the Dealer must execute any document necessary to perfect the Company's security interest in the Products. The Dealer also
appoints the Company as its attorney in fact to file any document as is necessary to perfect the security interest.

&nbsp;&nbsp;&nbsp;&nbsp;**3.6** **TRADE TERMS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6.1** **The Designated Trade Term**. Unless otherwise agreed
by both Parties in writing prior to the transaction, the trade term designated for every transaction (the "**Trade Term"**)
is:

---

| |
|:---|
| &nbsp;&nbsp;☐ **EXW [Place] + Incoterms⑧2020** |
| &nbsp;&nbsp;**√FCA [Hong Kong] + Incoterms⑧2020** |
| &nbsp;&nbsp;☐ **CIP [Place<u>] + Incoterms⑧2020</u>** |
| &nbsp;&nbsp;☐ **Other (please specify) [Trade Term] [Place] + Incoterms⑧2020** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6.2** **Two or More Trade Terms.** If two or more Trade Terms
are selected, the Company has the right to determine which Trade Term applies in each shipment and may notify the Dealer prior to the
shipment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6.3** **Modifications.** If the default rules, terms or conditions
of the Trade Term conflict with the following modifications, the following modifications prevail. All other rules, terms and conditions
specified by the Trade Term remain unchanged.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6.3.1** If the Trade Term is **EXW**, the Dealer is responsible
for both export and import customs clearance and fees incurred. The Dealer must not make any modification to the documents provided by
the Company without the Company's written consent. The Dealer must notify the Company at least 2 days prior to the delivery date of the
Products, and both Parties may negotiate and confirm a delivery date. In no event shall the Dealer submit an export declaration in the
name of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6.3.2** If the Trade Term is an **F-group** term and the Dealer
chooses express delivery services, the risk passes to the Dealer when the Company delivers the Products to the first carrier. The Dealer
must be responsible for import clearance and fees incurred, and the cost of the express delivery services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6.3.3** If the Trade Term is **EXW** or an **F-group** term,
the Dealer confirms that although the Company may assist the Dealer in preparing the necessary documents, the Company will not bear any
liability related to the preparing of documents or of the transportation, including but not limited to the liabilities for freight losses,
damages, any spontaneous combustion of dangerous goods, fines, taxes and clearance fees. The Dealer must ensure the Products that will
be exported are completely identical to the respective export-related documents provided by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6.3.4** In the event that the Trade Term **FCA Hong Kong** is
adopted, it is the Dealer's responsibility to arrange for cargo manifest declaration and export customs declaration with Hong Kong Customs,
either in the name of the freight forwarder engaged or by itself. By no means should the Dealer use the title of the Company or any of
its affiliates for performing the cargo manifest declaration and export customs declaration. The Dealer is obliged to provide the supporting
documents such as airway bills and/or bills of lading and the customs declaration forms to the Company within 14 days upon shipment departure
date, showing that the abovementioned duty and responsibility is duly performed. The Dealer agrees to indemnify and hold the Company
from and against all the losses, penalties and damages arising from any breach of this section and non-compliance of the custom declaration
and export control regulations under FCA Hong Kong. The Company reserves the right to stop the use office Hong Kong Trade Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6.3.5** If the Trade Term is **FOB,** the Dealer should ensure
that its forwarder provides all shipping order or other shipping documents required to the Company upon request of the Company. The Company
only undertakes the responsibility to apply for export Customs declaration and maritime export process in China mainland, and pay for
the fees for such application and the trucking fee. The Dealer understands and agrees that the Company will not be liable for any delay,
expense or loss of the Dealer incurred because of reasons beyond the Company's control, including but not limited to review or inspection
by the Customs. The Dealer should ensure that its forwarder performs the aforementioned obligations in accordance with the Company's
requirements. In the event that any additional or unexpected cost, expense or fee incurred because of the Dealer's forwarder's failure
to perform any of the aforementioned obligations in accordance with the Company's requirements, the Dealer should bear such costs, expenses
or fees.

Notwithstanding anything to the contrary regarding the common understanding of FOB, except for the fees that the Company expressly agrees to pay in this Agreement, the Dealer should pay for any costs, fees or expenses that should be paid by a seller under FOB, including but not limited to any costs, fees or expenses related to terminal, handling, demurrage or detention, for any and all shipments that apply FOB under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6.3.6** If the Trade Term is a **C-group** term, the Company has
the right to designate the carrier. If the Company chooses express delivery services, the Dealer confirms that although the delivery
address shown in the PI, CI and other documents is the delivery address in the destination country, the transfer of risks and allocation
of responsibilities and cost between Parties will follow the trade terms stipulated in the PI and defined in this Agreement. If the Company
chooses delivery methods other than express delivery services, the Dealer agrees and confirms that the Company may deliver the Products
to the Dealer at a nearby airport or port instead of the delivery address stipulated in the Pathe risk passes to the Dealer when the
Company delivers the Products to the carrier. The Company should be responsible for the export clearance and fees incurred and the cost
of the express delivery services. The Dealer should be responsible for import clearance and fees incurred.

&nbsp;&nbsp;&nbsp;&nbsp;**3.7** **TARIFF CLASSIFICATION** 

&nbsp;&nbsp;&nbsp;&nbsp;The Company will provide the Dealer with HS tariff codes for customs clearance. If the Dealer has any queries on the tariff classification, the Dealer must consult with the Company first. Subject to consent and designation by both Parties, the Company or the Dealer may apply for a binding customs ruling or similar classification procedure from the Customs. The Dealer acknowledges that any breach of the foregoing obligations may impede the Customs 'interpretation of the functions and features of the Products, which may in turn adversely affect the ultimate tariff classification decision by the Customs, resulting in likely additional duty costs, import licensing requirements and extra customs clearance processes for the Company and other Dealers of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;**3.8** **PACKING** 

&nbsp;&nbsp;&nbsp;&nbsp;The Company must, at its expense, pack all Products in accordance with the Company's standard packing procedure, which must be suitable for transporting the Products to the Territory.

&nbsp;&nbsp;&nbsp;&nbsp;**3.9** **DELIVERY, TITLE, AND RISK OF LOSS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.9.1** If the Trade Term is **EXW**, a C-group term, or DDP,
the title to the Products passes to the Dealer when the Company places the Products at the disposal of the Dealer at the named port,
place, or point in the Trade Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.9.2** If the Trade Term is an **F-group term,** the title to
the Products passes to the Dealer when the Products are loaded on the carrier designated by the Dealer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.9.3** **D/P.** If the Parties agree on documents against payment(D/P)
as the Payment Term, the title to the Products passes to the Dealer when the Dealer receives the documents of title.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.9.4** **Retention of Title.** Notwithstanding any provision
to the contrary, until all payments are made in full for all accounts receivable to which the Company is entitled, the Products remain
the property of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.9.5** **Uncontrollable Delivery Delay.** In any case, the Company
is not responsible for any damages for the delivery delay caused by the limitation of the Company's production capacity or freight ability,
any third party, or a Force Majeure Event as defined in Section 11.5(Force Majeure).

&nbsp;&nbsp;&nbsp;&nbsp;**3.10** **INSPECTION AND ACCEPTANCE** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.10.1** **Inspection.** Promptly upon the receipt of the Products
by the Dealer or by the carrier designated by the Dealer (together, the "Recipient"),the Recipient must examine the Products
to determine whether any item is missing, defective or damaged.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.10.2** **Documentation of Non-conformity.** When the Recipient
receives the Products, the Recipient must notify the Company in writing of any shortages, defects, or damages of the Products(together,
the "**Non-conformity** ")on the POD, sign the POD, and provide such POD to the Company's carrier at the time of the delivery.
If the Recipient does not state such Non-conformity on the POD, the Dealer is deemed to accept the quantities, packages, and appearances
of the Products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.10.3** **Refuse to Sign.** If the Recipient does not sign the
POD, the Company's carrier is entitled to refuse to deliver such Products. The Dealer must indemnify and hold the Company harmless from
any losses or damages incurred, including but not limited to, expenses for return shipments and storage of the Products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.10.4** **Notification of Non-conformity.** Within twenty-four
(24) hours of receipt of the Products, the Dealer must notify the Company in writing of the details of the Non-conformity that the Dealer
indicated on the POD. In the event that a Non-conformity claim or a claim related to the transport or storage of the Products raised
by the Dealer exceeds 2,500 USD, the Dealer must cooperate with a third-party research company designated by the Company or the Company's
insurance company to investigate the claim.

&nbsp;&nbsp;&nbsp;&nbsp;**3.11** **VALIDITY OF THE CREDIT NOTE** 

**3.11.1** Only Credit Notes sent by the Company via email with the address of [●] or published through the dealer portal of the Company (i.e. The PRM) are valid. Credit Notes sent by other email address are invalid. The Company also reserves the right to disapprove any verbal or written promises regarding CN made by the Company's staff.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.11.2** The Dealer must submit the required proofs and documents
within the period stated in the Company's announcements, otherwise, the Company can refuse to issue the CN.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.11.3** The Company will clarify CN requirements in official announcements
by email or through the dealer portal on the Company's website.

**4 <u>MARKETING AND SALES OF PRODUCTS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**4.1** **MARKETING AND ONLINE SALES** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1.1** **Use of Best Efforts.** The Dealer must use its best
efforts and at its own expense to market, advertise, promote, demonstrate, and sell the Products in the Territory. The Dealer may promote
or market the Products in its official online shop over the internet provided that the Dealer achieves the offline sales amount (in value
or volume)based on mutual agreement with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1.2** **Notification of Events.** The Dealer must notify the
Company of any proposed promotional events or any online sales of the Products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1.3** **Information Accuracy.** The Dealer must ensure that
the information on its websites is accurate and up-to-date, and in compliance with the Company's then-current minimum standards for the
use of websites.

&nbsp;&nbsp;&nbsp;&nbsp;**4.2** **SALES OF PRODUCTS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2.1** **Original Packaging.** The Dealer must market and sell
Products in the form and packaging as delivered by the Company to the Dealer unless instructed otherwise by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2.2** **Capable Customers.** The Dealer must only sell Products
to Customers who have the necessary understanding and knowledge about the proper method to use the Products, including their obligations
under applicable laws and regulations. The product sold by the Company to Dealer may be adjusted according to specific customer requirements.
The Company does not authorize, permit, or otherwise allow (expressly or impliedly) Dealer to sell the adjusted product to customers
without necessary qualification under the related policies, laws and regulations. The Dealer is liable for any loss arising out of the
sale to any Customer who the Dealer knows or reasonably should know is incapable of using or unqualified to use the Products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2.3** **Instructions.** The Dealer must, at its expense, deliver
one copy of the Company's current, applicable operation and maintenance manual to each End-User at the time of sales and, at that time,
the Dealer must, at its expense, fully explain and demonstrate to the End-User the proper method of operating and maintaining the Products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2.4** **Sales and Service Office.** The Dealer must, at its
expense, maintain at least one sales and service office in the Territory, staffed with experienced personnel, and provide prompt and
satisfactory technical support to Customers, which must be adequate under applicable laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2.5** **Integration Solution.** In the case of providing integration
solutions that may include or involve the sale of the Products (the "Integration Solution") for Customers, the Dealer reserves
the right, in its sole discretion, on the determination of the price of such Integration Solutions. However, the Dealer shall inform
the Company of such pricing.

&nbsp;&nbsp;&nbsp;&nbsp;**4.3** **SUBDEALER** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3.1** **Appointment.** If the Dealer intends to appoint a Subdealer
within the Territory, the Dealer must submit to the Company a copy of the Subdealer's business registration record and other information
required by the Company. Upon the completion of every authorization to a Subdealer, the Dealer shall submit an updated list of Subdealers.
Any resale of Products by entities who purchase from the Dealer and are not specified in latest list of Subdealers submitted by the Dealer
is deemed as unauthorized sale. Subdealer may only use the Company's Trademark after obtaining written license directly from the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3.2** **Terms and Conditions.** The Dealer is free to negotiate
and enter into any terms and conditions with the Subdealer, provided that (1) it does not exceed its authorities and rights under this
Agreement when granting such terms and conditions; (2) comply with any applicable laws, regulations and DJI's compliance requirements,
including but not limited to export control laws and privacy law; (3) do not infringe any right of the Company or any third Party; and
(4) the Dealer shall remain responsible to the Company for the compliance of each its Subdealer with the obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3.3** **Resale Monitoring.** The Dealer must monitor the Subdealer's
resale of the Products, instruct the Subdealer to comply with the Company's policy and guidelines, and report to the Company if requested.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3.4** **Indemnity.** The Dealer agrees to indemnify, defend,
and hold the Company harmless from and against any loss, damage, claim or demand whatsoever arising out of the distribution of the Products.

&nbsp;&nbsp;&nbsp;&nbsp;**4.4** **SALES AND PROMOTIONS IN FREE AREA** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4.1** The Dealer may sell and promote Products in a Free Area,
provided that the Dealer submits a written notice to the Company at least three days prior to any sale or promotion activities in the
Free Area.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4.2** The Dealer must cease sales, promotion activities, or representing
itself as an authorized dealer in a Free Area when the Company appoints an exclusive dealer in the Free Area.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4.3** The Company reserves the right, in its sole discretion, to
authorize new exclusive or non-exclusive dealers in a Free Area.

&nbsp;&nbsp;&nbsp;&nbsp;**4.5** **SALES RESTRICTIONS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5.1** The Dealer must not supply Products to following individuals,
entities, and organizations who:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) have been involved in or are suspected to be involved in
terrorism activities or activities of a similar nature; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) have infringed or intend to, or are suspected to infringe
the Intellectual Property Rights or any other rights of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5.2** The Dealer is liable for any damages, including indirect,
consequential, and incidental damages (including damages for loss of business profits, business interruption, loss of business information,
and the like) arising out of the Dealer's resale of Products in violation of this Section.

&nbsp;&nbsp;&nbsp;&nbsp;**4.6** **INSURANCE** 

During the Term and for 12 months thereafter, the Dealer must, at its own expense, maintain, with a reputable insurance company, a commercial general liability (including product liability) insurance and any legally required insurance. Upon the Company's request, the Dealer must provide satisfactory proof of such insurance.

**5 <u>EXPORT CONTROLS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**5.1** **EXPORT CONTROL LAWS** 

**"Export Control Laws**" means all U.S. and non-U.S. laws and regulations relating to (1) sanctions and embargoes or (2) the export or re-export of commodities, technologies or services, including but not limited to the laws administered by the Escoffier of Foreign Assets Control, the Seaport Administration Regulations (15 C.F.R.730 et seq.), the Regulation (EU) 2021/821, the Export Control Law of the PRC, the Measures for the Administration on Import and Export License of the PRC, and the Defence and Strategic Goods List of Australia.

&nbsp;&nbsp;&nbsp;&nbsp;**5.2** **COMPLIANCE** 

The Dealer must comply with applicable Export Control Laws and additional export compliance requirements as communicated to the Dealer in writing by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;**5.3** **VIOLATIONS** 

If the Dealer violates this "Export Controls" Section, the Company is entitled to terminate this Agreement immediately, and the Dealer must indemnify, defend, and hold harmless the Company, its directors, officers, employees, agents, representatives, and Affiliates, from and against any and all claims, demands, suits, causes of action, expenses (including reasonable attorneys 'fees), damages, losses or liabilities of any nature whatsoever, arising from, or allegedly arising from or related to, the Dealer's violations.

**6 <u>RECORDKEEPING AND DATA TRANSMISSION</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**6.1** **RECORDKEEPING** 

The Dealer must, at its expense, maintain complete and accurate books of account and records with regard to its activities under this Agreement, including but not limited to, weekly reports of inventory, marketing, maintenance and sales of the Products and spare parts including names of Customers, quantities, prices, and Products models of each transaction (all together, the "**Data"**). The Company reserves the right to audit and inspect the Dealer's offices, warehouses, and data systems to ensure the accuracy of the Data.

&nbsp;&nbsp;&nbsp;&nbsp;**6.2** **DATA TRANSMISSION** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2.1** The Dealer must take technical measures to realize Data transmission
to the Company. If the Data is stored locally, the plugin component will be installed in the computer or server with the ERP. If the
Data is stored in a cloud server, the Dealer must provide the Company access to the cloud server.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2.2** In the event that the Dealer is not able to realize real-time
data transmission, the Dealer must provide the Data weekly in a form approved by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2.3** The Dealer represents and warrants that all Data, information,
documents, or materials in any form are true, complete and accurate.

&nbsp;&nbsp;&nbsp;&nbsp;**6.3** **COMPLIANCE** 

Notwithstanding the foregoing, the Dealer must at all times comply with all applicable privacy and data protection laws, and must not infringe any right of any third party. If the Dealer's transmission of the Data to the Company will violate the laws or infringe the rights of a third party, the Dealer must notify the Company in writing prior to such transmission, and indemnify and hold harmless the Company if the Dealer violates this Section.

**7 <u>AFTER-SALE SERVICES</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**7.1** **PRODUCTS SOLD TO END-USERS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1.1** With respect to the Products sold by the Dealer to an End-User,
the Dealer must provide refund and replacement services to the End-User according to the after-sale policy specified on the Company's
official website or local laws. Subject to the Company's policy, such refund or replacement is limited only to the following scenarios:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) where the refund or replacement request is filed within 7
calendar days of receipt of the Product by the End-User or a certain period stipulated by local laws (whichever is longer) provided that
the Product which to be refunded or replaced is in proper condition for reselling. The Dealer must be solely responsible for the refund
and replacement requests under this scenario, and the Company will not provide compensations in any kind to the Dealer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) where the End-User unilaterally alleges that the Product
has quality issues and files a refund or replacement request (refund or replacement request filed within 7 calendar days of receipt of
the Product, and replacement request filed within 15 calendar days of receipt of the Product),the Company has the right in its sole discretion
to decide whether it must be liable for the case and whether the refund or replacement request may be accepted according to its after-sale
policies. The Company will inform the Dealer of its decision and the Dealer must cooperate and implement such decision in full and on
time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The Dealer acknowledges and agrees that the Company is entitled to amend such after-sale policies at
 its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1.2** The Dealer is obliged to conduct non-disassembled level troubleshooting
and usage guidance within the scope of its capabilities. Except for the above-mentioned refund and replacement services, and except for
the non-disassembled level troubleshooting and usage guidance, the Dealer will not provide any repair service regarding the Products
sold to the End-User, unless the Dealer has obtained the permission of the Company or the Parties have signed a relevant after-sales
service authorization agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1.3** In the event that the Dealer provides such repair service
for the End-User without the permission of the Company, the Company will not be liable for the Products repaired by the Dealer, nor will
the Company be obliged to pay any compensations to the Dealer or the End-User, no matter whether the Products should be within or beyond
the warranty period. If any loss or damage incurred to the End-User is caused by the repair service provided by the Dealer, the Dealer
must actively handle such issues and assume any and all liabilities therefrom and indemnify the Company against any costs or losses incurred
thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1.4** When an End-User seeks the repair service from the Dealer,
the Dealer must clarify to the End-User that it is not an authorized repair service provider and therefore it has no competence and authority
to provide the repair service. The Dealer must be the liaison between the Company and the End-User to confirm the repair service in need
and render the relevant repair services performed or instructed by the Company's after-sale department to the End-User.

&nbsp;&nbsp;&nbsp;&nbsp;**7.2** **PRODUCTS SOLD TO SUBDEALERS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2.1** With respect to the Products sold by the Dealer to a Subdealer,
the Dealer must provide the Company's official after-sale policies to its Subdealers, enter into an agreement (the "**After-sale Agreement"**) on After-sale Services directly with its Subdealers and must be responsible for such Subdealer's claims or demands.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2.2** The After-sale Agreement must contain provisions requiring
the Subdealer to collect and report any information regarding any Pending Replacement Cases to the Dealer within 3 calendar days immediately
after its receipt of any End-Users 'claim for refund or replacement under such Pending Replacement Cases. The Dealer must report
such information to the Company within 3 calendar days immediately upon its receipt of such information. The Dealer guarantees that its
Subdealers must fully cooperate with and follow the Company's instructions with respect to any Pending Replacement Case. Any Pending
Replacement Case reported to the Company in accordance with this Section will be settled pursuant to Section 7.1.1 as if such Pending
Replacement Cases were reported directly by the Dealer to the Company thereunder. The Dealer must be the one who is directly responsible
to its Subdealers or the Company, therefore the Dealer must be responsible for such Pending Replacement Case when the Dealer or the Subdealer
fails to comply with this Section, and the Company provides no compensation, nor it assumes any liability therefrom.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2.3** Except for the refund and replacement services provided under
Section 7.2.2,The Dealer's Subdealers must not provide any repair service. The Dealer must manage its Subdealers and, in the case that
an End-User seeks the repair service, demand such Subdealer to clarify to the End-User that it is not an authorized repair service provider
and therefore have no competence and authority to provide the repair service. The Dealer must also demand such Subdealer to be the liaison
between the Company and the End-User to confirm the repair service in need and render the relevant repair services performed or instructed
by the Company's after-sale department to the End-User.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2.4** In the event that the Dealer's Subdealer provides repair
service to the Customer, the Company will be not liable for the Products repaired by such Subdealer, nor will the Company be obliged
to pay any compensations, no matter whether the Products should be within or beyond the warranty period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2.5** The Dealer must indemnify the Company against any claims
by the Customer for any of its losses or damage incurred by the repair service provided by the Subdealer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2.6** If the Dealer's Subdealer intends to provide the repair service,
the Dealer must instruct it to contact with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2.7** The Dealer is obligated to manage its Subdealers 'after-sale
services. In the event that any End-User files claims against the Dealer's Subdealers for the after-sale services provided by the Subdealers,
including but not limited to claims on quality, timeliness, and pricing, the Dealer must settle such claims within 24 hours and provide
an improvement solution for similar cases to the Company within 7 days.

&nbsp;&nbsp;&nbsp;&nbsp;**7.3** **SPARE PARTS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3.1** With respect to the spare parts sold by the Company to the
Dealer, the spare parts should be only used to provide after-sales services for Customers in the Territory and shall give report to the
Company with detailed record of its inventory level and use of the spare parts if required by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3.2** When the Dealer is capable of repairing and has the spare
parts in stock, the Customers' reasonable after-sales request must be accepted by the Dealer. And under certain circumstances,
the Customers 'after-sales requests instructed by the Company must be accepted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3.3** The Dealer guarantees that its after-sales services are in
accordance with the Company's requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3.4** The Dealer should reasonably charge the Customer's after-sales
service fee, and should not be excessively higher than the general market price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3.5** If the Dealer violates the above regulations, the Company
has the right to adjust the after-sales spare parts supply, close the Dealer's account in the dealer system or/and take other measures
that the Company deems necessary.

&nbsp;&nbsp;&nbsp;&nbsp;**7.4** **AFTER-SALE POLICIES AND STATUTORY OBLIGATIONS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4.1** The Dealer must comply with the Company's relevant after-sale
policies and requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4.2** For the avoidance of doubt, the Parties acknowledge that
the sole purpose of the Section 7 is to secure the quality of After-sale Services and safeguard the goodwill of the Company. The Dealer
or any of its Subdealers as the seller of the Products must undertake any and all obligations under applicable laws and regulations.
Nothing under Section 7 may be construed as the Company's intention to assume or exempt any statutory obligations of the Dealer or its
Subdealers.

&nbsp;&nbsp;&nbsp;&nbsp;**7.5** **AFTER-SALES SERVICE OF DJI DOCK** 

In the event that the Dealer sells DJI DOCK (DOCK-01) (hereinafter referred to as "DJI DOCK"), the Dealer agrees to provide the after-sales services for DJI DOCK in accordance with the Schedule C: Terms of After-sales Services of DJI DOCK, such terms only apply to DJI DOCK and do not apply to other Products sold under this Agreement. Except as otherwise provided in Schedule C, if any provision contained in Schedule C is in conflict with, or inconsistent with, any provision in this Agreement, Schedule C should prevail.

**8 <u>PROMOTING AND TRAINING THE DEALER</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**8.1** **PROMOTING THE DEALER** 

The Company may publish the name, address, and other contact information of the Dealer on its official website. The Company may update as requested by the Dealer upon written notice.

&nbsp;&nbsp;&nbsp;&nbsp;**8.2** **TRAINING THE DEALER** 

As promptly as practicable after execution of the Agreement, the Company must send the Dealer information, materials, manuals, and other technical documents necessary to enable the Dealer to perform its obligations under this Agreement. Throughout the Term, the Company must continue to provide the Dealer with the necessary information and technical assistance. The Company may require the Dealer to purchase and participate training or certification program at the Dealer's own costs before the starting of ordering. The Dealer acknowledges of and accept the additional expenses and qualifications that may be required.

**9 <u>INTELLECTUAL PROPERTY</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**9.1** **OWNERSHIP** 

The Company's Intellectual Property Rights are the sole and exclusive property of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;**9.2** **TRADEMARK LICENSE GRANT** 

Subject to the Guidelines for Using DJI Trademarks and Copyrights (the "**Guidelines**") available at <u>https://www.dji.com/terms</u>, which may be amended by discretion, the Company grants to the Dealer a Territory-wide, non-exclusive, on-transferable, revocable and non-sublicensable license to use the Company's trademarks in the Guidelines (the "Trademarks")during the Term solely for the purpose of performing its obligations under this Agreement. The Company may, at its sole discretion, revoke the license if the Company determines that the Dealer uses the Trademarks to the detriment of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;**9.3** **PROHIBITED ACTS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3.1** The Dealer must not use the Company's Intellectual
Property Rights without the Company's written permission or acquire any interest in any of the Company's Intellectual Property Rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3.2** The Dealer must not misappropriate, register or apply for
registration for the name, short name or abbreviation of the name of the Company or the Company's products, Trademarks or any other trademark
or logo that is similar to the Trademarks or that incorporates the Trademarks in whole or in a confusingly similar part.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3.3** The Dealer shall not, without the prior written consent to
the Company, alter or make any addition to the labelling or packaging of the Products displaying the Trademarks, and shall not alter,
deface or remove in any manner any reference to the Trademarks, any reference to the Company or any other name attached or affixed to
the Products or their packaging or labeling Dealer's use of the Trademarks shall not be reasonably considered as misleading or imply
that the Company endorses the Dealer or any products or services offered by the Dealer other than the Products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3.4** Any use, reproduction, duplication, distribution, circulation
and/or publication exceeding the license scope or in violation of this Section, either by Subdealer, its managers, officers, directors,
employee, agent, representative or the like, is expressly prohibited, and shall be considered as material breach of this Agreement.

**10 <u>REPRESENTATIONS AND WARRANTIES</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**10.1** **PRODUCT WARRANTY** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1.1** **Limited Warranty**. The Company warrants that the Products
are free from defects in material and workmanship at the time of delivery under proper and normal use and service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1.2** **Remedies.** If the Products are found to have been defective
when delivered, the Dealer's sole remedy is the replacement or repair of defective Products by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1.3** **LIMITATION OF WARRANTIES.** EXCEPT FOR THE WARRANTIES
SET FORTH IN THIS SECTION, THE COMPANY WAIVES WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, IN FACT OR BY LAW, BY STATUTE OR OTHERWISE,
INCLUDING ANY WARRANTY OF QUALITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, OR ANY WARRANTY AS TO THE VALIDITY OF
ANY PATENTS OR THE NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS OR OTHER RIGHTS OF THIRD PARTIES.

&nbsp;&nbsp;&nbsp;&nbsp;**10.2** **DEALER'S REPRESENTATIONS AND WARRANTIES** 

The Dealer represents and warrants to the Company that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) it is duly organized, validly existing, in good standing,
and duly qualified to do business in the jurisdiction of its incorporation and in the Territory;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) its representative whose signature is set out at the end
of this Agreement has been duly authorized by all necessary corporate action of the Dealer.

&nbsp;&nbsp;&nbsp;&nbsp;**10.3** **COMPANY'S REPRESENTATIONS AND WARRANTIES** 

The Company represents and warrants to the Dealer that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) it is duly organized, validly existing, in good standing,
and duly qualified to do business in the jurisdiction of its incorporation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) its representative whose signature is set out at the end
of this Agreement has been duly authorized by all necessary corporate action of the Company.

**11 <u>LIABILITY,INDEMNIFICATION AND FORCE MAJEURE</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**11.1** **LIABILITY FOR BREACH OF AGREEMENT** 

Any failure of the Dealer to perform any of the obligations under this Agreement is deemed as a breach of this Agreement. In the event of a breach by the Dealer, the Company is entitled to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) require the Dealer to compensate the Company an amount calculated
based on the accumulative amount of delivered Products and on its degree of fault;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) suspend supplying the Products for one calendar month; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) increase the price of the Products to be sold to the Dealer.

&nbsp;&nbsp;&nbsp;&nbsp;**11.2** **MATERIAL BREACH** 

The following breaches are material (the **"Material Breach"**), and in addition to the remedies in other sections, the Company is entitled to terminate this Agreement immediately in the event of a Material Breach:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) The Dealer violates its obligations under Section 5 (Export
Controls) and 9 (Intellectual Property) of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The Dealer breaches its representations and warranties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The Dealer fails to fulfill its payment obligations on the
due date; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) The Dealer fails to cure its breaches of any of its obligations
within a reasonable time upon the receipt of the Company's written notice.

&nbsp;&nbsp;&nbsp;&nbsp;**11.3** **LIMITATION OF LIABILITY** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.3.1** Notwithstanding anything to the contrary contained in this
Agreement, the Company's aggregate liability arising out of or in connection with this Agreement, whether based on breach of contract,
statutory warranty or otherwise, must in no event exceed, in addition to the repair or replacement of the defective products, the value
of the defective products with respect to which any related claim may be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.3.2** The Company is not liable for any special, indirect, incidental,
or consequential damages of any kind, and is not liable for losses of use, data, profit, income, business, anticipated savings, reputation,
and more generally, any losses of an economic or financial nature.

&nbsp;&nbsp;&nbsp;&nbsp;**11.4** **INDEMNIFICATION** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.4.1** The Dealer will indemnify, hold harmless, and defend the
Company and its managers, officers, directors, employees, agents, Affiliates, successors against any and all losses, damages, liabilities,
deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs, or expenses of whatever kind, including
professional fees and attorneys 'fees (collectively, the "**Liabilities** "), arising out of or attributable to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) any negligent or gross negligent, false act or omission of
the Dealer or its personnel (including but not limited to any reckless or willful misconduct); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) breach or non-fulfillment of this Agreement by the Dealer;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) breach or non-fulfillment of this Agreement by the Subdealer;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) any dispute, claim or other matter between the Dealer and
any third party; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) any bodily injury, death of any person, or damage to real
or tangible personal property caused by the Dealer or its Subdealer and their personnel respectively, including but not limited to the
managers, officers, directors, employees, agents, Affiliates of the Dealer and its Subdealer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.4.2** In the event of the Liabilities, the Company has the sole
right to control the defense and settlement of the Liabilities. The Dealer must cooperate with the Company in the investigation of any
alleged Liability mentioned above, and must not make any payment or incur any expense with respect to any claim or suit without the prior
written consent of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;**11.5** **FORCE MAJEURE** 

The Company is not in default in the performance of its obligations and is not liable for damages or otherwise for any failure or delay in performance which is due to strike, lockout, a concerted act of workmen or other industrial disturbance, fire, explosion, flood, epidemic or other natural catastrophes, civil disturbance, riot or armed conflict whether declared or undeclared, curtailment, shortage, rationing or allocation of normal sources of supply of labor, materials, transportation, energy, or utilities, an act of God, acts of government, embargo or any other cause (together, the **"Force Majeure Events**") that is beyond the reasonable control of the Company.

**12 <u>AMENDMENTS OF THE AGREEMENT</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**12.1** **AMENDMENT BY THE COMPANY** 

The Company may issue a written notice to the Dealer to amend this Agreement (the "**Notice of Amendment"**).The Notice of Amendment should specify the date when the amendment becomes effective, which should be at least 15 days after the issuance of the notice. The Notice of Amendment may in the form of product announcements, dealer management rules or email notifications. If the Dealer refuses to accept the amendment, the Dealer should submit a written request for negotiation to the Company before the effective date of the amendment, otherwise such Notice of Amendment will be deemed accepted by the Dealer.

&nbsp;&nbsp;&nbsp;&nbsp;**12.2** **AMENDMENT BY THE DEALER** 

The Dealer may propose an amendment to this Agreement by submitting a written request for negotiation to the Company. Such a proposal of an amendment is not effective until it is signed by both Parties.

**13 <u>TERM AND TERMINATION</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**13.1** **TERM** 

This Agreement is valid throughout the Term, which means the period of time commences on the Effective Date and ends on the Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;**13.2** **TERMINATION** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.2.1** The Company is entitled to terminate this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) in the event of a Material Breach; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) if the Company has delivered a 30-day prior notice to the
Dealer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.2.2** Either Party is entitled to terminate this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) if either Party becomes insolvent, files or has been filed
against it, a petition for voluntary or involuntary bankruptcy or under any other insolvency laws, makes or seeks to make a general assignment
for the benefit of its creditors, or consents to, the appointment of a trustee, receiver, or custodian for a substantial part of its
property, or is generally unable to pay its debts as they become due; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) if a Force Majeure Event affects the Company's performance
under this Agreement for more than 45 days.

&nbsp;&nbsp;&nbsp;&nbsp;**13.3** **EFFECTS OF TERMINATION** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3.1** **Survival.** The following provisions or sections should
survive the termination of this Agreement: Section 3.5 (Payment); Section 4.3.4 (Indemnity); Section 5 (Export Controls); Section 9 (Intellectual
Property); Section 11 (LIABILITY, INDEMNIFICATION AND FORCE MAJEURE); Section 14 (GOVERNING LAW AND DISPUTE RESOLUTION); Section 15.1
(Confidential Information); Section 15.5 (Waiver); Section 15.6 (Severability); and Schedule B (Commitment on Compliance).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3.2** **Return of Documents.** Within 30 days of the Termination
Date, the Dealer must return all copies of any promotional materials, marketing literature, written documents, and reports relating to
the Products that have been supplied by the Company.

**14 <u>GOVERNING LAW AND DISPUTE RESOLUTION</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**14.1** **GOVERNING LAW** 

This Agreement, all related documents, and all matters arising out of or relating to this Agreement, are governed by and construed in accordance with the laws of the State of California, United States of America, without giving effect to the conflict of laws. The United Nations Convention on Contracts for the International Sale of Goods is expressly and entirely excluded.

&nbsp;&nbsp;&nbsp;&nbsp;**14.2** **DISPUTE RESOLUTION** 

Any dispute, controversy or claim arising out of or relating to this Agreement, including the formation, interpretation, breach or termination thereof, including whether the claims asserted are arbitrable, will be referred to and finally determined by arbitration administered by JAMS in accordance with its applicable rules. The tribunal will consist of one arbitrator. The place of arbitration will be San Jose, CA. The language to be used in the arbitral proceedings will be English. Judgment upon the award rendered by the arbitrator may be entered by any court having jurisdiction thereof. This Section does not preclude the Parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction.

**15 <u>MISCELLANEOUS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**15.1** **CONFIDENTIALINFORMATION** 

This Agreement and any information the Dealer receives while negotiating and performing this Agreement are within the scope of the Confidential Information under the Non-Disclosure Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;**15.2** **EQUITABLE REMEDIES** 

The Dealer acknowledges that a breach or threatened breach by the Dealer of any of its obligations under this Agreement would give rise to irreparable harm to the Company for which monetary damages would not be an adequate remedy and hereby agrees that in the event of a breach or a threatened breach by the Dealer of any such obligations, the Company must, in addition to any and all other rights and remedies that may be available to the Company in respect of such breach, be entitled to equitable relief, including a temporary restraining order, an injunction, specific performance, and any other relief that may be available from a court of competent jurisdiction without any requirement to post bond.

&nbsp;&nbsp;&nbsp;&nbsp;**15.3** **INTERPRETATION** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.3.1** The headings to sections and paragraphs are for ease of reference
only and do not affect construction thereof. In this Agreement, words importing the singular include the plural and vice versa.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.3.2** The words "including", "include"
and "includes" each is deemed to be followed by the term "without limitation. "

&nbsp;&nbsp;&nbsp;&nbsp;**15.4** **ASSIGNMENT** 

The Dealer must not assign any of its rights or delegate any of its obligations without the prior written consent of the Company. The Company may assign its rights and/or delegate its obligations, in whole or in part, without such consent and upon 3-days prior written notice to the other party, to its Affiliates or any third parties, including but not limited to assign the accounts receivable to its designated bank. No assignment may relieve the Dealer of any of its obligations, and the Dealer must be jointly and severally liable for any breach of this Agreement by the assigned party.

&nbsp;&nbsp;&nbsp;&nbsp;**15.5** **WAIVER** 

No failure or delay by either Party in exercising any right, power or privilege can operate as a waiver thereof, nor can any single or partial exercise thereof preclude any other or future exercise of any right, power or privilege. The failure of any Party to insist on strict performance of any covenant or obligation in accordance with this Agreement is not a waiver of such Party's right to demand strict compliance in the future, nor can the same be construed as a novation of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;**15.6** **SEVERABILITY** 

If any term or provision of this Agreement is invalid, illegal, or unenforceable by a court of competent jurisdiction, such invalidity, illegality, or unenforceability does not affect the remaining term or provision of this Agreement. In such case, this Agreement shall be deemed amended by modifying such term or provision to the extent necessary to render it valid, legal and enforceable while preserving its intent or, if such modification is not possible, by substituting it with another term or provision that is valid, legal and enforceable so as to materially effectuate the Parties' intent.

&nbsp;&nbsp;&nbsp;&nbsp;**15.7** **RELATIONSHIP** 

The Parties are and must act as independent contractors in the performance of this Agreement. This Agreement must not be interpreted or construed as creating or evidencing any agency, association, joint venture, partnership or franchise between the Parties. Neither Party can represent to anyone that it is an agent of the other Party or is otherwise authorized to bind or commit the other Party in any way without such other Party's prior written consent. At no time can either Party make commitments or incur any charges or expenses for or in the name of the other Party.

&nbsp;&nbsp;&nbsp;&nbsp;**15.8** **EFFECTIVE AND COUNTERPARTS** 

This Agreement becomes effective upon signature or stamp by the Parties. This Agreement is executed in four counterparts, each of which is binding as of the Effective Date, and all of which constitute one and the same instrument. Counterparts delivered by scanning, or by email in PDF, or a similar image format have the same effect as the originals.

&nbsp;&nbsp;&nbsp;&nbsp;**15.9** **NOTICE** 

Each Party must deliver all notices by email according to the information set forth below. Each Party warrants that the information filled in this Section is correct.

The Company: iFlight Technology Co. Ltd. <u>The Dealer: ASK Idea (Hong Kong) Limited</u> <br> <u>EMAIL: [●]</u> <u> EMAIL: [●]</u>

&nbsp;&nbsp;&nbsp;&nbsp;**15.10** **APPLICATION OF AGREEMENT** 

This Agreement applies to and constitutes an integral part of all Purchase Orders, Pro forma Invoices, Commercial Invoices, Credit Notes and any other documents and contracts between the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;**15.11** **ENTIRE AGREEMENT** 

This Agreement, together with any other documents incorporated herein by reference and all related exhibits and schedules, constitutes the sole and entire agreement of the Parties to this Agreement with respect to the subject matter contained in this Agreement, and supersedes all prior and contemporaneous understandings, agreements, representations, and warranties, both written and oral, with respect to such subject matter.

**IN WITNESS WHEREOF,** the Parties have caused this Agreement to be executed by their respective duly authorized officers or agents.

---

| | |
|:---|:---|
| &nbsp;&nbsp; **On Behalf Of The Company**<br> Signature and Stamp:<br>| &nbsp;&nbsp; **On Behalf Of The Dealer**<br> Signature and Stamp:<br>|
| &nbsp;&nbsp; Printed Name: [●]<br> Position: [●] | &nbsp;&nbsp; Printed Name: Wan Chun Ki<br> Position: Director |

---

**<u>SCHEDULE A: PRODUCTS FOR RESALE</u>**

"Products" pertains to all below products; the Company is entitled to adjust the types of the Products in its discretion from time to time.

☐ **Mavic;**

☐ **Phantom;**

☐ **Inspire;**

☐ **Matrice;**

☐ **Accessories;**

☐ **Zenmuse;**

☐ **Osmo;**

☐ **Other industrial solutions;**

√ **Steam series;**

☐ **DJI DOCK (DOCK 01).**

**<u>Distribution Channel</u>**

√ **Wholesale;**

√ **Retail;**

√ **System Integration;**

☐ **Others ________________________**

**<u>Schedule B: Commitment on Compliance</u>**

We hereby represent and warrant to the company (also "**DJI"**) that:

&nbsp;&nbsp;&nbsp;&nbsp;a) We will strictly comply with applicable export control and
sanction laws and additional export compliance requirements as communicated to us in writing by DJI (together, the "**Compliance Requirements** ").

&nbsp;&nbsp;&nbsp;&nbsp;b) We are obligated to and will carefully check the latest Compliance
Requirements and obtain necessary export licenses before our export, re-export, transfer, or transit of DJI products.

&nbsp;&nbsp;&nbsp;&nbsp;c) We will not, either directly or indirectly, export, re-export,
transfer, or transit any DJI products to (i) any comprehensive sanctioned countries or regions, such as Cuba, Iran, North Korea, Syria,
and Crimea, the DNR and the LNR regions, and/or; (ii) any prohibited countries or regions as required by DJI, i.e. Russia and Ukraine,
or any other prohibited countries or regions pursuant to the latest Compliance Requirements.

&nbsp;&nbsp;&nbsp;&nbsp;d) We will not, either directly or indirectly, export, re-export,
transfer, or transit any DJI products to any individuals or, entities on the SDN list (together, the "**Prohibited Persons** "),
including, for entities, any entity owned 50% or more in the aggregate by one or more Prohibited Persons, pursuant to the latest Compliance
Requirements. For SDN governmental agencies list restrictions extend to any governmental agencies under their indirect oversight including
local and municipal agencies.

&nbsp;&nbsp;&nbsp;&nbsp;e) We will use, and require our resellers, customers or end-users
of DJI products (the "**Buyers**") to use DJ products for civil purposes only and never directly or indirectly use DJI
products for the purposes of, with, or related to, combat, rocket or missile systems, long-range (equal to or more than 300 KM) unmanned
aerial vehicles, nuclear, biological and chemical weapons, or terrorism activities.

&nbsp;&nbsp;&nbsp;&nbsp;f) We will diligently check against the Buyers before each transaction
and make sure no DJI products have been or will be provided to Prohibited Persons. Further, we will require our Buyers not to transfer
DJI products to any Prohibited Persons.

&nbsp;&nbsp;&nbsp;&nbsp;g) We will use <u>httns//www.bis.doc.gov/index.phn/all-articles/23-compliance-a-training/51-red-flag-indicators</u> as a reference to discover any abnormal circumstances (the "**Red Flags**") in each transaction and must not proceed any
transaction in which we notice or should have noticed any Red Flags

&nbsp;&nbsp;&nbsp;&nbsp;h) We will demand and ensure that our resellers fully comply
with the Compliance Requirements as notified by DJI from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;i) We acknowledge we have internal compliance program in place
and guarantee to conduct compliance audit and self-certify every half-year as required by DJI. We agree to provide DJI reasonable access
to the documents and all other export, re-export or transfer records relevant to the items referenced in Compliance Requirements that
DJI may request in furtherance of compliance with applicable export control laws and regulations.

We acknowledge and understand that in the event of our breach of this commitment lettered is entitled to terminate our business relationship immediately and stop supplying any products without undertaking any liability, and we must indemnify, defend, and hold harmless DJI, its directors, officers, employees, agents, representatives and affiliates, from and against any and all claims, demands, suits, causes of action, expenses, damages, losses or liabilities of any nature whatsoever, arising from, or allegedly arising from or related to, any violation of the Compliance Requirements or this commitment letter by us or our Buyers. And we acknowledge this commitment will remain valid throughout the cooperation period between us and DJI.

We acknowledge we have conducted regular internal audit and we have not breached any of these commitments and the Compliance Requirements before the signing of this commitment.

On Behalf of ASK Idea (Hong Kong) Limited

Signature and Stamp:

Printed Name: Wan Chun Ki

Position: Director

Date:20[●]-01-01

**<u>Schedule C: Terms of After-sales Services of DJI DOCK</u>**

**1. <u>TERMS OFAFTER-SALES SERVICE OF DJI DOCK</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**1.1.** The purchase price of DJI DOCK provided by the Company to
the Dealer includes all the fees for after-sales service provided by the Dealer to the End-Users. The Dealer shall undertake all after-sales
service, including but not limited to return, repair or replacement service, for DJI DOCK sold by the Dealer to the End-User. The Dealer
guarantee that its service complies with local regulations and the Company's requirements. All expenses arising from after-sales service
of DJI DOCK shall be borne by the Dealer.

&nbsp;&nbsp;&nbsp;&nbsp;**1.2.** The Company is not responsible for providing after-sales
service for DJI DOCK sold to the Dealer. If the DJI DOCK sold to the Dealer is dead on arrival ()"**DOA** "), the Dealer
shall purchase spare parts for maintenance and repair the product at its own charge. In the event of damage or loss caused by the Company
designated logistics, the Dealer is entitled to reject to receive the product upon delivery; if the Dealer received the product, the
Dealer shall repair at its own charge.

&nbsp;&nbsp;&nbsp;&nbsp;**1.3.** The Company is not responsible for providing after-sales
service for DJI DOCK which are directly or indirectly sold by the Dealer. If any End-User requests the Company to provide after-sales
service, the Company shall have the right to request the Dealer to provide the service, and the Dealer shall bear all corresponding service
costs. The Dealer shallot refuse to provide after-sales service to End-Users.

&nbsp;&nbsp;&nbsp;&nbsp;**1.4.** The Matrice 30T Dock Bundle ("DJI DOCK Bundle")
contain a DJI DOCK and a M30T Dock Version. The Company will provide after-sale service as specified in DJI after-sales policies for
the M30T Dock Version in the DJI DOCK Bundle. The Dealer shall assist End-Users in sending the M30T Dock Version for maintenance to the
location designated by the Company. The Dealer is obliged to ensure the M30T Dock Version is compatible with the DJI DOCK and ensure
the End-User can use DJI DOCK normally after the Company completes the maintenance of the M30T Dock Version. The Company shall not be
obliged to reimburse the Dealer for any fees or costs incurred in the aforementioned process.

&nbsp;&nbsp;&nbsp;&nbsp;**1.5.** DJI DOCK Bundle contain batteries. The Dealer acknowledges
that prolonged disuse may affect the battery life. If the batteries of the M30T Dock Version are damaged due to prolonged disuse, the
Company will not provide after-sales service for the M30T Dock Version and all losses shall be borne by the Dealer.

&nbsp;&nbsp;&nbsp;&nbsp;**1.6.** The Dealer shall have the right to apply for service-related
technical support resources from the Company, including technical support for personnel, technical documentation, and maintenance instruction
videos. The Dealer can also attend DJI DOCK after-sales service skill training conducted by the Company. Notwithstanding the above training
or technical support materials, the Dealer shall be solely responsible for the quality of the services provided.

&nbsp;&nbsp;&nbsp;&nbsp;**1.7.** The Dealer is obliged to obtain enterprise maintenance qualifications
and personnel maintenance qualifications in accordance with local laws and regulations. All the after-sales service provided by the Dealer
shall be strictly complied with local laws and regulations and the Company's requirements.

&nbsp;&nbsp;&nbsp;&nbsp;**1.8.** All the Dealer's service personnel shall obtain the maintenance
qualifications certified by the Company before providing the service to the End-Users. The Dealer shall conduct necessary job training
for its own and subordinate agency service personnel, and shall be liable for the performance of the aforementioned personnel.

&nbsp;&nbsp;&nbsp;&nbsp;**1.9.** The Company shall have the right to obtain maintenance case
information recorded by the Dealer, including but not limited to DJI DOCK Setup and Deployment's geographical conditions information,
spare parts information, and maintenance plans. The Dealer shall ensure that it has the right to provide the aforementioned information
to the Company and that it does so in accordance with the relevant local data protection regulations.

**2. <u>THE DEALER'SAFTER-SALES SERVICE POLICY</u>**

**<u> </u>**

&nbsp;&nbsp;&nbsp;&nbsp;**2.1.** The warranty period of the DJI DOCK and its spare parts provided
by the Dealer to the End-User shall be at least one year upon activation of DJI DOCK and shall not be less than the period stipulated
by local regulations. The Dealer shall display its warranty policy on its official website and provide it with the DJI DOCK when selling
the DJI DOCK to the End-Users.

&nbsp;&nbsp;&nbsp;&nbsp;**2.2.** The Dealer shall provide free after-sales service for non-artificial
damage or functional failure of the product within the warranty period.

&nbsp;&nbsp;&nbsp;&nbsp;**2.3.** The after-sales services of DJI DOCK provided by the Dealer
shall include consulting and problems solving service, installation and deployment service, free repair or replacement service for in-warranty
products, paid repair service for out-of-warranty products and paid inspection service.

**3. <u>SPARE PARTS PROCUREMENT</u>**

**<u> </u>**

&nbsp;&nbsp;&nbsp;&nbsp;**3.1.** The Dealer shall provide after-sales service to End-Users
with original spare parts provided by the Company. The Company shall have the right to charge the Dealer for the spare parts.

&nbsp;&nbsp;&nbsp;&nbsp;**3.2.** The Dealer shall use the purchased spare parts to provide
after-sales maintenance service to End-Users, and provide DJI with records of after-sales service and spare parts used as requested by
the Company.

&nbsp;&nbsp;&nbsp;&nbsp;**3.3.** For the Dealer's first purchase order of spare parts,
the Company will provide the Dealer with the recommended purchase quantity of spare parts. The Dealer shall regularly check its spare
parts inventory, reasonably plan its inventory level, and order spare parts in advance based on its use of spare parts, to ensure service
efficiency.

&nbsp;&nbsp;&nbsp;&nbsp;**3.4.** The Dealer will submit the Purchase Order of spare parts
in the Company's system and finish the payment by following the Company's instruction. The Company has the right to adjust the price
of spare parts in its sole discretion. The payment shall be made within thirty (30) days upon the receipt of the invoice from the Company.
The Dealer should bear the service fees charged by the bank. The ownership of the spare parts will be transferred to the Dealer upon
the full completion of the payment. The Trade Term for spare parts of the DJI DOCK purchased under this Agreement shall be incoterms
2020 EXW Company's factory or as otherwise mutually agreed by both Parties.

&nbsp;&nbsp;&nbsp;&nbsp;**3.5.** When the Dealer receives the spare parts, the Dealer must
notify the Company in writing of any shortages, appearance defects, or damages (together, the "Non-conformity") of the spare
parts within 7 days. For substantial defects, the aforementioned period is within 3 months. If the Dealer does not state such non-conformity
within corresponding period upon receipt of the spare parts, the Dealer is deemed to accept the quantity, quality and appearance of the
spare parts. If the Dealer notify such non-conformity within the designated period, the Company will review the evidence submitted
by the Dealer and the Company will reissue replacement spare parts if the Company confirms that such Non-conformity was caused by the
Company.

**4. <u>MANAGEMENT POLICIES AND STATUTORY OBLIGATIONS</u>**

**<u> </u>**

&nbsp;&nbsp;&nbsp;&nbsp;**4.1.** The Dealer shall provide the after-sales service for DJI
DOCK in accordance with the Dealer Service Management Policy for DJI Dock. The Company shall be entitled to impose penalties on the Dealer
based on the Dealer Service Management Policy.

&nbsp;&nbsp;&nbsp;&nbsp;**4.2.** The Dealer shall comply with the relevant management policy
and requirements of the Company when providing any of the after-sales services. The Dealer agrees that the Company has the right to unilaterally
modify, change, add or delete such policies and requirements. DJI shall notify the Dealer in writing or through email of any adjustments
to after-sales service policy. The Dealer shall be deemed to accept the adjusted policy unless the Dealer raises a written objection
within 3 days after receiving the notification.

&nbsp;&nbsp;&nbsp;&nbsp;**4.3.** For the avoidance of doubt, the Parties acknowledge that
this Schedule is made between the Dealer and the Company only to ensure the quality of after-sales services and safeguard the goodwill
of the Company. The Dealer and any of its Subdealers as the seller of DJI Dock shall undertake any and all obligations under applicable
laws and regulations. Nothing under this Schedule may be constructed as the Company's intention to assume or exempt any statutory obligations
of the Dealer or its Subdealers.

&nbsp;&nbsp;&nbsp;&nbsp;**4.4.** The Dealer is obliged to inform and remind End-Users that
DJI Dock is a piece of low-voltage equipment, which involves electrical wiring and to avoid danger, relevant electrical operations must
be conducted by qualified electricians or professionals. The Company shall not be liable for any injuries or asset losses caused by the
Dealer or End-Users' failure to operate DJI Dock or relevant products according to requirements.

**5. <u>INDEMNIFICATION</u>**

The Dealer will indemnify, hold harmless and defend the Company and its managers, officers, directors, employees, agents, Affiliates, successors against any and all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fDealer acknowledges and agrees that the Company is entitlines, costs, or expenses of whatever kind, including professional fees and attorneys' fees, arising out of the after-sales service for DJI DOCK purchased by the Dealer under this Agreement.

## Exhibit 10.8

**Exhibit 10.8**

**Cooperation Agreement for Hong Kong STEAM Education Program**

Party A: ASK Idea (Hong Kong) Limited

Registered Address: Hong Kong Special Administrative Region (Unit 721, Cyberport 1, Cyberport, Cyberport Road 100, Hong Kong)

Legal Representative/Authorized Representative: [●]

Party B: Next Education Limited

Registered Address: [●]

Legal Representative: [●]

Date of Signing: January 3, 2024

Place of Signing: Hong Kong Special Administrative Region

Whereas:

1. Party A is a company registered in Hong Kong, dedicated to promoting STEAM (Science, Technology, Engineering, Arts, and Mathematics) education services in primary and secondary schools in Hong Kong;

2. Party B is a company registered in Hong Kong, with professional capabilities and experience in providing educational services, tutor training, and curriculum management;

3. Both Parties intend to establish a long-term cooperative relationship to jointly promote the implementation of STEAM education projects.

Through friendly negotiations, Party A and Party B have reached the following cooperation agreement (hereinafter referred to as "this Agreement") for mutual compliance:

Article 1: Purpose of Cooperation

This Agreement aims to clarify the cooperation model, scope of services, fee settlement, and other related rights and obligations for conducting on-site STEAM tutoring services in Hong Kong primary and secondary schools, ensuring smooth cooperation between both Parties.

Article 2: Scope of Services and Party B's Responsibilities

1. Scope of Services

Party B shall assist Party A in conducting on-site STEAM tutoring services in Hong Kong primary and secondary schools based on Party A's requirements. Party B's specific responsibilities include but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Recruiting suitable STEAM course tutors, ensuring they possess the necessary professional qualifications and teaching capabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Providing professional training to tutors to enhance their teaching skills and course delivery abilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Arranging course schedules to ensure smooth implementation of the curriculum;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Monitoring course progress and teaching quality, and submitting regular course progress reports to Party A;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Developing teaching and training materials, including but not limited to PPT presentations, video content, and printed materials;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Organizing and executing various STEAM-related competitions, including district, inter-school, and international competitions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Developing teaching materials for new products and conducting testing and optimization of new products.

2. Service Quality

Party B undertakes to provide services that meet industry standards and Party A's reasonable requirements. Party B shall ensure the teaching quality of tutors, the professionalism of course materials, and the smooth execution of competition activities. If Party A raises concerns about service quality, Party B shall rectify the issues within 5 working days of receiving notification.

Article 3: Service Fees and Payment Terms

1. Service Fees

Party A shall pay Party B service fees, with the fee rate ranging from [●]% to [●]% of Party B's project revenue. The specific rate shall be determined based on the following factors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The location of the teaching site;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The urgency of the course;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The number of tutors required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The duration of the course;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The number of students.

2. Payment Terms

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Party B shall submit a settlement list for service fees to Party A within 60 working days after completing the classes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Payments shall be made in Hong Kong Dollars to the bank account designated by Party B.

3. Taxes and Fees

Each Party shall bear its respective taxes and fees arising from this Agreement in accordance with the tax regulations of the Hong Kong Special Administrative Region.

Article 4: Rights and Obligations of Both Parties

1. Party A's Rights and Obligations

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Party A has the right to supervise the quality of Party B's services and propose reasonable suggestions for improvement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Party A shall pay service fees on time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Party A shall provide Party B with necessary project information and support, including but not limited to school contact details and course requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Party A shall ensure that the projects it commissions comply with the laws and regulations of the Hong Kong Special Administrative Region.

2. Party B's Rights and Obligations

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Party B has the right to receive service fees as agreed in this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Party B shall provide professional, high-quality services as agreed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Party B shall keep confidential the commercial information and student data provided by Party A and shall not disclose such information to third parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Party B shall ensure that its tutors and service personnel comply with the relevant laws and regulations of Hong Kong, including labor laws and educational qualification requirements.

Article 5: Confidentiality

1. Both Parties shall maintain confidentiality regarding the other Party's trade secrets (including but not limited to client information, financial data, and teaching materials) obtained during the cooperation and shall not disclose such information to third parties without the other Party's written consent.

2. The confidentiality obligation shall remain in effect after the termination of this Agreement until the relevant information enters the public domain.

3. If a breach of confidentiality causes losses to the other Party, the breaching Party shall bear corresponding liability for compensation.

Article 6: Term and Termination of the Agreement

1. Term of the Agreement

This Agreement shall take effect from January 3, 2024, and remain valid for three years (until January 2, 2027). Before the Agreement expires, both Parties may negotiate its renewal.

2. Termination Conditions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Both Parties may terminate this Agreement early by mutual consent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) If one Party materially breaches this Agreement, the other Party may terminate the Agreement upon written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) If one Party enters bankruptcy, liquidation, or becomes unable to perform this Agreement, the other Party may terminate the Agreement.

3. Post-Termination Handling

Upon termination of this Agreement, Party B shall transfer all relevant work outcomes (including teaching materials and course reports) to Party A, and Party A shall settle all outstanding service fees.

Article 7: Liability for Breach of Contract

1. If Party B fails to provide services as agreed or if the service quality does not meet requirements, Party A has the right to demand rectification and hold Party B liable for any additional costs incurred.

2. If Party A fails to pay service fees on time, it shall pay Party B a late payment penalty at a rate of 0.05%per day on the overdue amount.

3. If one Party's breach causes losses to the other Party, the breaching Party shall bear liability for compensation.

Article 8: Force Majeure

In the event of force majeure (including but not limited to natural disasters, government bans, or pandemics) that prevents the performance of this Agreement, both Parties may negotiate to suspend or terminate the Agreement, and neither Party shall bear liability for breach. The affected Party shall promptly notify the other Party and take reasonable measures to minimize losses.

Article 9: Dispute Resolution

1. Any disputes arising from this Agreement shall be resolved through friendly negotiations. If negotiations fail, either Party may file a lawsuit in a court with jurisdiction in the Hong Kong Special Administrative Region.

2. This Agreement shall be governed by the laws of the Hong Kong Special Administrative Region.

Article10: Miscellaneous

1. Matters not covered by this Agreement may be addressed in a supplementary agreement signed by both Parties, which shall have the same legal effect as this Agreement.

2. This Agreement is made in duplicate, with each Party holding one copy, and shall take effect upon the signing and sealing by both Parties.

**Party A**

**ASK Idea HK Limited**

Legal Representative/Authorized Representative: <u>[●]</u>

Date: January 3, 2024

**Party B**

**Next Education Limited**

Legal Representative/Authorized Representative: <u>[●]</u>

Date: January 3, 2024

## Exhibit 10.9

**Exhibit 10.9**

Smart Programming Aerial Equipment Procurement Cooperation Agreement

Contract Number: [●]

Party A (Buyer): ASK Idea (Hong Kong) Ltd. (hereinafter referred to as "Party A")

Party B (Supplier): Shenzhen High Great Innovation Technology Co., Ltd. (hereinafter referred to as "Party B")

According to the Civil Code of the People's Republic of China and relevant laws and regulations, to clarify the rights and obligations of both parties, this contract is hereby concluded upon mutual agreement, and both parties agree to abide by the following clauses. The product referred to in this agreement specifically means the HG-F09 HULA product under the High Great brand supplied by Party B and does not include other products of Party B.

1. Cooperation Method:

1.1 Party B authorizes Party A to be the regional partner for the HG-F09 HULA product under the High Great brand in Hong Kong. Party A may organize market sales activities independently under the premise of complying with Party B's cooperation policies, and Party B shall not impose restrictions.

1.2 Party A shall place purchase orders for the procurement of equipment, and the content of each order shall be executed accordingly.

1.3 During the cooperation period, all business opportunities in the region shall be handed over by Party B to Party A (except for special opportunities that are communicated to Party A). Party A shall be fully responsible for sales and market services in the region (including but not limited to after-sales coordination, technical support, event hosting, etc.).

1.4 Annual sales target: Party A shall complete the purchase of [●] units of products annually:

- Within 6 months of signing, Party A must complete [ ● ] % of the annual target;

- Within 12 months of signing, Party A must complete [ ● ]% of the annual target.

1.5 Payment: Party A shall place two separate purchase orders of [●] units each before January and July [●], respectively, at a unit price of [●]. Party A shall pay [●]% of the total order amount [●] within 5 working days of the order, with the remaining [●]% paid before each shipment.

1.6 If Party A fails to achieve the agreed stage targets, both parties may determine future cooperation arrangements based on actual promotion conditions in the region.

1.7 Market rules: Party B authorizes Party A as a regional partner. Within 7 working days after this contract takes effect, Party A shall pay Party B [●] as a performance deposit (if already paid for other High Great products, no duplicate charge). This deposit is intended to restrain cross-region sales; if Party A commits no violations, the deposit shall be fully refunded without interest upon expiration. Party A shall not sell products in regions authorized to other distributors. If found, it shall be deemed cross-region selling. In severe cases, Party B has the right to terminate authorization and confiscate the deposit. Party A shall recognize Party B's brand, and during the cooperation period shall not maliciously defame, spread negative information about Party B, or disclose sensitive information such as pricing or market policies.

2. Product Transaction

2.1 The annual sales target of Party A in this contract is valid for one year. Subsequent procurement shall be conducted through purchase orders, which are considered part of this contract and have the same legal effect.

2.2 Upon full payment of the purchase order, Party B shall prepare all goods within the agreed timeframe and ship to the delivery address designated by Party A, within the authorized regional scope only.

3. Packaging and Transportation

3.1 Equipment shall be packaged using methods tested and approved by Party B for transportation. If Party A has specific packaging requirements, written notice must be given 10 working days before shipment.

3.2 Party B is responsible for delivering the equipment to the address specified by Party A (limited to the authorized region and within normal transportation access). If the actual delivery address differs, the written instruction shall prevail. Logistics costs shall be borne by Party B. Risk of loss or damage during transit lies with Party B. Upon delivery, ownership and risk transfer to Party A.

4. Equipment Acceptance

4.1 Upon receipt and testing, Party A shall sign the delivery note to confirm acceptance. If Party A refuses, photo evidence or logistics documentation from Party B or the carrier shall be deemed proof of delivery.

4.2 Acceptance shall be based on packing list, certificate of quality provided by Party B. Party A shall check and stamp or confirm the delivery note.

4.3 Acceptance of equipment shall be based on standard configurations. User manual (electronic) will be sent to Party A's designated email.

4.4 If no objection is raised and no signed acceptance is returned within 7 working days from receipt, it will be deemed accepted and in compliance.

5. After-sales Service and Installation Guidelines

5.1 Warranty for smart programming nailer equipment is 12 months or 30 total running hours; battery warranty is 6 months under normal appearance and use (fewer than 200 cycles); propellers and accessories are not covered.

5.2 Warranty starts from the actual date of receipt by Party A.

5.3 Equipment has anti-counterfeit SN code; if removed, warranty is void.

5.4 Damages due to misuse, dropping, or improper use outside the user manual are the responsibility of Party A.

5.5 During the warranty, Party A shall send faulty devices to Party B's designated repair location. Party B returns the repaired device. Shipping costs are borne by the sender.

5.6 After warranty, devices receive lifetime repair support, with all costs borne by Party A.

5.7 If more devices are needed due to loss or consumption, a new contract must be signed.

5.8 After delivery, Party B shall provide remote support for installation and debugging. Party B shall respond within 3 working days with technical guidance if issues arise.

6. Liability for Breach

6.1 If Party A delays payment, it must pay a penalty of 0.05% of the overdue amount per day.

6.2 If Party A unjustifiably refuses delivery, it shall compensate losses and a penalty of 1% of goods' value per day.

6.3 If Party B delays delivery, it shall pay 0.05% of the delayed goods' value per day as penalty.

6.4 Both parties must maintain confidentiality about this contract's content. The breaching party bears responsibility for any losses or impacts.

7. Safety and Compliance Responsibilities

7.1 Party A shall strictly follow the user manual when using HULA products.

7.2 When providing local services or hosting events, Party A must comply with local qualifications and licensing requirements (e.g. business registration, skilled operators, flight declaration, etc.).

7.3 If Party A or its personnel lacks qualifications or fails to follow instructions and causes damage or loss to the HULA set, Party A bears all legal and economic responsibility.

8. Force Majeure

Unforeseeable, unavoidable, and insurmountable events including fire, flood, earthquake, typhoon, epidemic lockdown, legal or policy changes, embargo, etc. shall be treated as force majeure. The affected party shall notify the other in time and may delay or waive liability based on the situation.

9. Dispute Resolution

Unresolved matters or disputes arising during the execution of this contract shall first be resolved through consultation. If negotiation fails, either party may bring a lawsuit to the court in Party B's jurisdiction.

10. Business Contact Information

After the contract becomes effective, execution and communication shall follow the contact details and addresses listed in the contract.

11. Other Provisions and Effectiveness

Any amendments to this contract or its annexes must be agreed in writing and signed by both parties. The contract is effective for one year from January 1 to December 31, [●], in duplicate with each party holding one copy. Electronic scans have equal legal effect as the original.

Party A:

**ASK IDEA (Hong Kong) Ltd.**

Authorized Representative: Mr WAN Chun Ki

Phone: [●]

Date of Signing: [●]

Party B:

**Shenzhen High Great Innovation Technology Holdings Co., Ltd.**

Authorized Representative: [●]

Phone: [●]

Date of Signing: [●]

## Exhibit 10.10

**Exhibit 10.10**

<u>Sales and Purchase Contract</u>

貨物買賣合同

**<u>Contract Ref.合同單號：FMT-S2022008X</u>**

This Sales and Purchase Contract（the "**Contract**"）is entered into at Hong Kong by and between：

本貨物買賣合同(下稱"本合同")由下述雙方在香港簽署

Purchaser購買方：ASK Idea (Hong Kong) Limited

（the "**Party A**" 以下簡稱"甲方"或"買方"或"客戶"）

HK Co. Reg.No. 香港公司註冊編號：69756206

Address地址：Rm721, 7/F, Block 1, Cyberport, 100 Cyberport Road, HK

Contact聯繫方式 ：Mr. Hui Ho Kit/許豪傑先生 Phone電話：[●]

And 和

Vender銷售方：Feiyang Metaverse Technology Limited

（ the "**Party B**" 以下簡稱"乙方"或"賣方"）

HK Co. Reg. No. 香港公司註冊編號：3114419

Address地址：[●]

Contact聯繫方式: [●] Phone電話：[●]

The **Purchaser** (**Party A**) and the **Vendor** (**Party B**) are each referred to respectively as a "Party" and collectively as "Parties".

在本合同中，上述購買方和銷售方之任一方簡稱為"一方"，以及合併簡稱為"雙方"或"买卖雙方"。

The above Parties, on the basis of equality and mutual benefit and through friendly negotiation, agree on the following terms and conditions of this Contract concerning the sales and purchase of Goods related to DJI DRONE and its related or alternatives:

上述購買方和銷售方，在平等互利的基礎上，經友好協商，就有關購買大疆無人機及其相關產品或替代產品之相關事宜，一致同意以下買賣條件和約定：

**1、Detailed Information of Goods to be purchased under this Contract 擬購買的貨物的詳細資訊**

1.1.Purchaser agrees to purchase the required goods from Vendor in installments according to the terms and conditions set forth herein.

客戶同意按本合同約定的各項條件，分次向銷售方購買所需的貨物；

1.2.Each purchase transaction by Purchaser shall be executed in the form of a confirmed Purchased Order (the "PO") which is placed by Purchaser to Vendor; Each PO shall be subject to Vendor's confirmation of all contents and conditions (Any PO without Vendor's confirmation is invalid).

客戶每次的采购货物之交易，須按由客戶向销售方下达已获确认订单（下稱"訂單"）（PO）的方式执行；每张訂單须經銷售方確認全部內容和條件為准（未經銷售方確認的訂單無效)；

1.3.Each PO shall clearly state all Detailed Information of Goods to be purchased by Purchaser including but not limited to the Names of goods, Specification, Quality, Price, Quantity and Total Price of the goods, and specify the payment method (including payment instruction and beneficiary' information), means of transportation and mode of delivery relating to the PO.

每張訂單均應明確寫明買方擬採購貨物的所有詳細資訊，包括但不限於貨物名稱、規格、品質、價格、數量和總價，並明確與採購訂單相關的付款方式(包括付款指示和收款人資訊)、運輸工具和交貨方式。

1.4.Each PO shall also clearly state the date of placing order, the serial number of the PO and the text statement indicating this PO under this Contract. No requirement to the specific format of PO is needed as long as the content of PO meets the above requirements.

每張訂單須清晰寫明下單日期、訂單編號和指明該訂單屬本合同項下之訂單等內容。在確保訂單的內容滿足上述要求的條件下，其具體格式可以不固定。

1.5.Once a PO is signed and confirmed by both parties, it shall immediately become a part of this Contract and both parties shall perform it in accordance with the provisions hereof.

一旦訂單獲得雙方簽署確認，其即成為本合同之一部份，雙方均得按本合同之約定予以履行。

**2、Specifications and Quality規格和品質**

The technical specifications and the quality of Goods to be purchased under this contract should be subject to and carried out in accordance with the requirement(s) to be stated in Each PO confirmed by both parties.

本合同項下所購貨物的技術規格和品質，按經買賣雙方確認的每筆訂單的要求執行。

**3、Payment付款方式**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. Unless otherwise other payment instruction has been confirmed by both parties in a specific PO, both parties agree that the **Total Amount in Each PO** shall be paid to the Purchaser in two installments:

The First Payment: [●]% of the Total Amount to be paid within 90 days after the PO is confirmed.

The Second Payment: [●]% of the Total Amount shall be paid within 180 days after the PO is confirmed.

除非買賣雙方在特定訂單中簽署確認了其他的付款安排，否則每筆訂單的貨款總額分兩期支付給賣方：

第一期：支付總額的[●]%，須於該筆訂單簽署確認後的90天內支付。

第二期：支付總額的[●]%，須於該筆訂單簽署確認後的180天內支付。

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. Unless otherwise notified in writing, the bank details of the payee (the Vendor) are as follows:

除非另有書面的通知，收款方(即銷售方)的銀行資訊如下：

---

| | |
|:---|:---|
| &nbsp;&nbsp;Account name: 帳戶名稱 | &nbsp;&nbsp;Feiyang Metaverse Technology Limited |
| &nbsp;&nbsp;Business account戶口帳號 | &nbsp;&nbsp;[●] |
| &nbsp;&nbsp;Bank Name 銀行名稱 | &nbsp;&nbsp;[●] |
| &nbsp;&nbsp;Bank Code銀行編號: | &nbsp;&nbsp;[●] |
| &nbsp;&nbsp;Branch Code 分行号： | &nbsp;&nbsp;[●] |
| &nbsp;&nbsp;SWIFT Code | &nbsp;&nbsp;[●] |
| &nbsp;&nbsp;Bank Address銀行地址: | &nbsp;&nbsp;[●] |

---

**4、Goods Delivery 貨物的交付**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. Place of Delivery: The place of receipt of the goods shall be within the Territory of HKSAR and shall be confirmed by the Purchaser to the Vendor five working days prior to delivery.

交付地點：貨物的收貨地點須在香港特區範圍內，由購買方在交貨前五個工作日向銷售方確認。

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. Upon delivery of the goods, the Seller shall provide the buyer with an Invoice, which shall contain the full contents of the List of Goods mentioned above.

交付货物时，銷售方應向購買方提供一份發票（Invoice）,其中應包括货物清单的全部内容。

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 When delivering the goods, the delivery party shall prepare two duplicate delivery notes (the"DNs"), indicating the name of the goods, quantity, delivery place and time, respective representatives of the shipper and the consignee, etc. The two DNs shall be signed jointly by the shipper and the consignee on the spot to confirm the Delivery being correct. Each of the confirmed DNs shall be handed up to the Purchaser and the Vendor respectively for the account entry purpose.

交付貨物時，送貨方須同時準備好一式兩份送貨單，其中注明貨物品名、數量、交貨地點和時間，托運人和收貨人各自的代表等內容；該兩份送貨須由送貨人和收貨人在現場共同簽署以確認交貨無誤；兩份送貨單原件將分別送給購買方和銷售方的財務入賬。

**5、Freight and Notice 運費和通知**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. Prices in the above List of Goods do not include freight charges; Freight is for Purchaser's account. The Vendor can handle the transportation matters for Purchaser. The related costs and expenses arising from the transportation matters shall be settled separately and shall be paid or compensated by the Purchaser to the Vendor.

上述貨物清單內的價格不包括運費；運費由購買方承擔。銷售方可代辦運輸事宜，因運輸事宜發生的相關成本和費用另行結算，由購買方支付或補償給銷售方.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 After the goods shipment, the Vendor shall immediately inform the Purchaser of all relevant information including the bill of lading, packing marks, etc.

貨物發運後，銷售方應立即通知購買方相關的全部情況包括提單和包裝嘜頭等。

**6、Transportation Insurance 運輸的保險**

The prices in the above List of Goods do not include insurance. The Vendor may handle the insurance matters for the Purchaser, and the related costs and expenses arising from the insurance matters shall be settled separately and paid or compensated by the Purchaser to the Vendor.

上述貨物清單內的價格不包括保险。銷售方可代辦投保事宜，因投保事宜發生的相關成本和費用另行結算，由購買方支付或補償給銷售方。

**7、Miscellaneous Terms其他條款**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1. Confidentiality Clause: This confidentiality clause shall not be invalid due to termination of cooperation between the Parties. This confidentiality clause shall remain binding upon both Parties after termination of cooperation. At any time, no matter during the term of this Contract or within five years after the termination of this Contract, either Party shall assume the obligation to keep confidential the confidential information of the other Party acquired during the cooperation. Without the written consent of the other Party, neither Party shall disclose this cooperation content to any third party unrelated to both Parties in any way.

保密條款:本保密條款不因雙方合作的終止而無效。在雙方合作終止後，本保密條款對雙方仍具有約束力。在任何時候，不論是在本合同有效期還是本合同終止以後五年內，任何一方對在合作過程中瞭解的有關另一方的保密資訊，均應承擔保密義務。未經對方書面同意，任何一方不得將本合作內容，以任何方式透漏給無關的第三方。

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2. Force Majeure: In case this Contract cannot be performed normally due to war, strike, coup, earthquake, tsunami and other major adverse events or natural disasters, both Parties shall not be liable for compensation to each other. However, this Contract shall continue to be performed after the Force Majeure event is over.

不可抗力:不可抗力事件，因發生戰爭、罷工、政變、地震、海嘯等重大事件或自然災害等，造成本合同不能正常履行的，雙方互不負賠償責任，但不可抗力事件結束之後本合同繼續履行。

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3. Dispute Resolution: This Contract shall be governed by and construed in accordance with the laws of the Hong Kong SAR. Any dispute arising from the performance of this Contract shall be settled by both Parties through friendly negotiation. If no agreement can be reached through negotiation, either Party shall accept the non-exclusive jurisdiction of the Courts of Hong Kong SAR over this Contract.

爭議解決:本合同適用中華人民共和國香港特別行政區法律，並按香港法律詮釋。如雙方在履行過程中發生爭議，雙方應通過友好協商解決，如雙方通過協商不能達成合同時，任何一方均接受香港法院對本合同的非專屬管轄權。

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4. This Contract may be amended or renewed upon expiration with the consent of both Parties. If either Party intends to terminate this Contract, it may notify the other Party in writing one month in advance to negotiate termination conditions. Projects initiated prior to the termination of this Contract shall not be affected by such termination.

本合同期滿後在雙方同意下，可作修訂或續期。如任何一方擬終止本合同，也可提前壹個月以書面形式通知對方，以商定終止條件。在本合同終止前開展的計畫不受終止的影響。

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5. The Annex of this Contract and any supplementary files and modification files shall be a part of this Contract and have the same legal effect as this Contract.

本合同附件及任何補充檔、修改檔作為本合同的一部分，與本合同具有同等的法律效力。

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6. This Contract shall come into force as of the signing date after being signed by both Parties.

本合同经双方签署后，自签署日起开始生效。

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7. This Contract is made in duplicate, with each party holding one copy and each copy having the same legal effect.

本合同一式二份，雙方各執一份，具有同等法律效力。

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8. This Contract is written in English with Chinese translation as far as possible. In case of any ambiguity, the English language shall prevail.

本合以英文书写同时尽可能辅以英文翻译。若有任何歧义皆以英文为准。

Date簽署日期：28 August, 2022

With Signature of 雙方簽署：

**Purchaser** 購買方（甲方或客戶）：

For and on behalf of

**Ask Idea (Hong Kong) Limited**

____________________________________

Authorised signature

Name: Position:

**Vendor**銷售方（乙方）：

For and on behalf of

**Feiyang Metaverse Technology Limited**

____________________________________

Authorised signature

Name: Position:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **ASK Idea (Hong Kong) Limited**<br> **艾思能達（香港）有限公司** | &nbsp;&nbsp; **ASK Idea (Hong Kong) Limited**<br> **艾思能達（香港）有限公司** | &nbsp;&nbsp;**PURCHASE ORDER** | &nbsp;&nbsp;**PURCHASE ORDER** | &nbsp;&nbsp;**PURCHASE ORDER** | &nbsp;&nbsp;**PURCHASE ORDER** |
| &nbsp;&nbsp;Rm721, 7/F, Block 1, Cyberport | &nbsp;&nbsp;Rm721, 7/F, Block 1, Cyberport |  |  | &nbsp;&nbsp;&nbsp;&nbsp;DATE | &nbsp;&nbsp;[●] |
| &nbsp;&nbsp;100 Cyberport Road, Hong Kong | &nbsp;&nbsp;100 Cyberport Road, Hong Kong |  |  | &nbsp;&nbsp;&nbsp;&nbsp;PO # | &nbsp;&nbsp;[●] |
| &nbsp;&nbsp;Phone: 25033018 Fax: 25033800 | &nbsp;&nbsp;Phone: 25033018 Fax: 25033800 |  |  |  |  |
| &nbsp;&nbsp;Email: [●] | &nbsp;&nbsp;Email: [●] |  |  |  |  |
| &nbsp;&nbsp;Website: www.askideagroup.com.hk | &nbsp;&nbsp;Website: www.askideagroup.com.hk |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**VENDOR** | &nbsp;&nbsp;&nbsp;&nbsp;**VENDOR** |  | &nbsp;&nbsp;&nbsp;&nbsp;**SHIP TO** | &nbsp;&nbsp;&nbsp;&nbsp;**SHIP TO** | &nbsp;&nbsp;&nbsp;&nbsp;**SHIP TO** |
| &nbsp;&nbsp;Feiyang Metaverse Technology Limited | &nbsp;&nbsp;Feiyang Metaverse Technology Limited |  | &nbsp;&nbsp;ASK Idea (Hong Kong) Limited | &nbsp;&nbsp;ASK Idea (Hong Kong) Limited | &nbsp;&nbsp;ASK Idea (Hong Kong) Limited |
| &nbsp;&nbsp;飛揚元宇宙科技有限公司 | &nbsp;&nbsp;飛揚元宇宙科技有限公司 |  | &nbsp;&nbsp;艾思能達（香港）有限公 司 | &nbsp;&nbsp;艾思能達（香港）有限公 司 | &nbsp;&nbsp;艾思能達（香港）有限公 司 |
| &nbsp;&nbsp;Address: [●] | &nbsp;&nbsp;Address: [●] |  | &nbsp;&nbsp; Rm721, 7/F, Block 1, Cyberport 100, Cyberport Road, HK<br> 香港南區數碼港道100號數碼港第一座7樓721室 | &nbsp;&nbsp; Rm721, 7/F, Block 1, Cyberport 100, Cyberport Road, HK<br> 香港南區數碼港道100號數碼港第一座7樓721室 | &nbsp;&nbsp; Rm721, 7/F, Block 1, Cyberport 100, Cyberport Road, HK<br> 香港南區數碼港道100號數碼港第一座7樓721室 |
| &nbsp;&nbsp;Phone:[●] | &nbsp;&nbsp;Phone:[●] |  | &nbsp;&nbsp;Phone: [●] | &nbsp;&nbsp;Phone: [●] | &nbsp;&nbsp;Phone: [●] |
|  |  |  | &nbsp;&nbsp;Email: [●] | &nbsp;&nbsp;Email: [●] | &nbsp;&nbsp;Email: [●] |
| &nbsp;&nbsp;**ITEM #** | &nbsp;&nbsp;**DESCRIPTION** | &nbsp;&nbsp;**DESCRIPTION** | &nbsp;&nbsp; **QTY**<br> **unit** | &nbsp;&nbsp; **UNIT PRICE**<br> **HKD/unit** | &nbsp;&nbsp; **TOTAL**<br> **HKD** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp; Drone:<br> DJI RoboMaster TT | &nbsp;&nbsp; Drone:<br> DJI RoboMaster TT | &nbsp;&nbsp;980 |  |  |
| &nbsp;&nbsp;2 | &nbsp;&nbsp; Accessories:<br> RoboMaster S1 Crystal Balls水晶彈(P9） | &nbsp;&nbsp; Accessories:<br> RoboMaster S1 Crystal Balls水晶彈(P9） | &nbsp;&nbsp;120 |  |  |
| &nbsp;&nbsp;3 | &nbsp;&nbsp;Ryze Tello EDU | &nbsp;&nbsp;Ryze Tello EDU | &nbsp;&nbsp;56 |  |  |
|  | &nbsp;&nbsp;\*\*\*\*\*\*\* | &nbsp;&nbsp;\*\*\*\*\*\*\* |  |  |  |
|  | &nbsp;&nbsp;\*\*\*\*\*\*\* | &nbsp;&nbsp;\*\*\*\*\*\*\* |  |  |  |
|  |  |  |  | &nbsp;&nbsp;SUBTOTAL |  |
| &nbsp;&nbsp;**Payment Instructions** | &nbsp;&nbsp;**Payment Instructions** | &nbsp;&nbsp;**Payment Instructions** |  | &nbsp;&nbsp;SHIPPING | &nbsp;&nbsp;- |
| &nbsp;&nbsp; - The First Payment: [●]% of the Total Amount to be paid within 90 days after this PO is confirmed.<br> - The Second Payment: [●]% of the Total Amount shall be paid within 180 days after the PO is confirmed. | &nbsp;&nbsp; - The First Payment: [●]% of the Total Amount to be paid within 90 days after this PO is confirmed.<br> - The Second Payment: [●]% of the Total Amount shall be paid within 180 days after the PO is confirmed. | &nbsp;&nbsp; - The First Payment: [●]% of the Total Amount to be paid within 90 days after this PO is confirmed.<br> - The Second Payment: [●]% of the Total Amount shall be paid within 180 days after the PO is confirmed. |  | &nbsp;&nbsp;OTHER |  |
| &nbsp;&nbsp; - The First Payment: [●]% of the Total Amount to be paid within 90 days after this PO is confirmed.<br> - The Second Payment: [●]% of the Total Amount shall be paid within 180 days after the PO is confirmed. | &nbsp;&nbsp; - The First Payment: [●]% of the Total Amount to be paid within 90 days after this PO is confirmed.<br> - The Second Payment: [●]% of the Total Amount shall be paid within 180 days after the PO is confirmed. | &nbsp;&nbsp; - The First Payment: [●]% of the Total Amount to be paid within 90 days after this PO is confirmed.<br> - The Second Payment: [●]% of the Total Amount shall be paid within 180 days after the PO is confirmed. |  |  |  |
| &nbsp;&nbsp; - The First Payment: [●]% of the Total Amount to be paid within 90 days after this PO is confirmed.<br> - The Second Payment: [●]% of the Total Amount shall be paid within 180 days after the PO is confirmed. | &nbsp;&nbsp; - The First Payment: [●]% of the Total Amount to be paid within 90 days after this PO is confirmed.<br> - The Second Payment: [●]% of the Total Amount shall be paid within 180 days after the PO is confirmed. | &nbsp;&nbsp; - The First Payment: [●]% of the Total Amount to be paid within 90 days after this PO is confirmed.<br> - The Second Payment: [●]% of the Total Amount shall be paid within 180 days after the PO is confirmed. |  | &nbsp;&nbsp;**TOTAL** |  |
| &nbsp;&nbsp;**Purchasing Terms:** | &nbsp;&nbsp;**Purchasing Terms:** | &nbsp;&nbsp;**Purchasing Terms:** |  |  |  |
| &nbsp;&nbsp; (1) The detailed specifications of goods above is stated in Annex I. 上述貨物的詳細規格詳見附件I。<br>(2) The above price includes the freight to the address in Hong Kong territory.以上價格包括香港區域內指定地址的運費。<br>(3) Other terms not stated herein shall be subject to the relevant terms of the *Sales and Purchase Contract* (Contract Ref. :<br>FMT-S2022008X) signed on 28 August, 2022.<br>其他未在此聲明的訂貨條款按2022年8月28日簽署的《貨物購買合同》（合同單號：FMT-S2022008X）的相關約定執行。 | &nbsp;&nbsp; (1) The detailed specifications of goods above is stated in Annex I. 上述貨物的詳細規格詳見附件I。<br>(2) The above price includes the freight to the address in Hong Kong territory.以上價格包括香港區域內指定地址的運費。<br>(3) Other terms not stated herein shall be subject to the relevant terms of the *Sales and Purchase Contract* (Contract Ref. :<br>FMT-S2022008X) signed on 28 August, 2022.<br>其他未在此聲明的訂貨條款按2022年8月28日簽署的《貨物購買合同》（合同單號：FMT-S2022008X）的相關約定執行。 | &nbsp;&nbsp; (1) The detailed specifications of goods above is stated in Annex I. 上述貨物的詳細規格詳見附件I。<br>(2) The above price includes the freight to the address in Hong Kong territory.以上價格包括香港區域內指定地址的運費。<br>(3) Other terms not stated herein shall be subject to the relevant terms of the *Sales and Purchase Contract* (Contract Ref. :<br>FMT-S2022008X) signed on 28 August, 2022.<br>其他未在此聲明的訂貨條款按2022年8月28日簽署的《貨物購買合同》（合同單號：FMT-S2022008X）的相關約定執行。 | &nbsp;&nbsp; (1) The detailed specifications of goods above is stated in Annex I. 上述貨物的詳細規格詳見附件I。<br>(2) The above price includes the freight to the address in Hong Kong territory.以上價格包括香港區域內指定地址的運費。<br>(3) Other terms not stated herein shall be subject to the relevant terms of the *Sales and Purchase Contract* (Contract Ref. :<br>FMT-S2022008X) signed on 28 August, 2022.<br>其他未在此聲明的訂貨條款按2022年8月28日簽署的《貨物購買合同》（合同單號：FMT-S2022008X）的相關約定執行。 | &nbsp;&nbsp; (1) The detailed specifications of goods above is stated in Annex I. 上述貨物的詳細規格詳見附件I。<br>(2) The above price includes the freight to the address in Hong Kong territory.以上價格包括香港區域內指定地址的運費。<br>(3) Other terms not stated herein shall be subject to the relevant terms of the *Sales and Purchase Contract* (Contract Ref. :<br>FMT-S2022008X) signed on 28 August, 2022.<br>其他未在此聲明的訂貨條款按2022年8月28日簽署的《貨物購買合同》（合同單號：FMT-S2022008X）的相關約定執行。 | &nbsp;&nbsp; (1) The detailed specifications of goods above is stated in Annex I. 上述貨物的詳細規格詳見附件I。<br>(2) The above price includes the freight to the address in Hong Kong territory.以上價格包括香港區域內指定地址的運費。<br>(3) Other terms not stated herein shall be subject to the relevant terms of the *Sales and Purchase Contract* (Contract Ref. :<br>FMT-S2022008X) signed on 28 August, 2022.<br>其他未在此聲明的訂貨條款按2022年8月28日簽署的《貨物購買合同》（合同單號：FMT-S2022008X）的相關約定執行。 |
| &nbsp;&nbsp;**Confirmed by Vendor:** | &nbsp;&nbsp;**Confirmed by Vendor:** | &nbsp;&nbsp;**Confirmed by Vendor:** | &nbsp;&nbsp;**Ordered by Purchaser:** | &nbsp;&nbsp;**Ordered by Purchaser:** | &nbsp;&nbsp;**Ordered by Purchaser:** |
| &nbsp;&nbsp; For and on behalf of<br>Feiyang Metaverse Technology Limited | &nbsp;&nbsp; For and on behalf of<br>Feiyang Metaverse Technology Limited | &nbsp;&nbsp; For and on behalf of<br>Feiyang Metaverse Technology Limited | &nbsp;&nbsp; For and on behalf of<br>ASK Idea (Hong Kong) Limited | &nbsp;&nbsp; For and on behalf of<br>ASK Idea (Hong Kong) Limited | &nbsp;&nbsp; For and on behalf of<br>ASK Idea (Hong Kong) Limited |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;PO Annex I: Detailed Specifications of Goods | &nbsp;&nbsp;PO Annex I: Detailed Specifications of Goods |
| &nbsp;&nbsp; <br>採購確認單附件一：货物的技術規格 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Dated：28/8/2022</u> |
| 1、DJI RoboMaster TT | 1、DJI RoboMaster TT |
| **Aircraft** | **Aircraft** |
| &nbsp;&nbsp;Take-off weight | &nbsp;&nbsp; 87g<br> (included Battery, Propellers, Guards) |
| &nbsp;&nbsp;Size | &nbsp;&nbsp;98x92.5x41 mm |
| &nbsp;&nbsp;Propellers | &nbsp;&nbsp;3 inches |
| &nbsp;&nbsp;Built-in functions | &nbsp;&nbsp;Range Finder, Barometer, LED, Vision System, 720p Live View, Wi-Fi Connection |
| &nbsp;&nbsp;Port | &nbsp;&nbsp;Micro USB Charging Port |
| &nbsp;&nbsp;**Flight Performances** | &nbsp;&nbsp;**Flight Performances** |
| &nbsp;&nbsp;Max. Flight Distances | &nbsp;&nbsp;100m |
| &nbsp;&nbsp;Max. Speed | &nbsp;&nbsp;8 m/s |
| &nbsp;&nbsp;Max. Flight Time | &nbsp;&nbsp;13 mins |
| &nbsp;&nbsp;Max. Flight Height | &nbsp;&nbsp;30m |
| &nbsp;&nbsp;**Battery** | &nbsp;&nbsp;**Battery** |
| &nbsp;&nbsp;Detachable Battery | &nbsp;&nbsp;1.1Ah/3.8V |
| &nbsp;&nbsp;**Camera** | &nbsp;&nbsp;**Camera** |
| &nbsp;&nbsp;Photo | &nbsp;&nbsp;5MP |
| &nbsp;&nbsp;FOV | &nbsp;&nbsp;82.6° |
| &nbsp;&nbsp;Video | &nbsp;&nbsp;HD720P30 |
| &nbsp;&nbsp;Format | &nbsp;&nbsp;JPG(Photo); MP4(Video) |
| &nbsp;&nbsp;EIS | &nbsp;&nbsp;Yes |
| &nbsp;&nbsp;**Open-Source Controller** | &nbsp;&nbsp;**Open-Source Controller** |
| &nbsp;&nbsp;Weight | &nbsp;&nbsp;12.5g |
| &nbsp;&nbsp;Size | &nbsp;&nbsp;49.5 x 32 x 15.2 mm |
| &nbsp;&nbsp;Operating Mode | &nbsp;&nbsp;Direct Connection Mode, Router Mode |
| &nbsp;&nbsp;Wi-Fi | &nbsp;&nbsp;2.4G, 5.8GHz |
| &nbsp;&nbsp;Bluetooth | &nbsp;&nbsp;2.4GHz |
| &nbsp;&nbsp;MCU | &nbsp;&nbsp;ESP32-D2WD, Dual-core Main Frequency: 160 MHz, Calculation ability: 400 MIPS |
| &nbsp;&nbsp;Open Source | &nbsp;&nbsp;Support SDK, Arduino, Scratch and MicroPython |
| &nbsp;&nbsp;Expansion | &nbsp;&nbsp;14-pin expansion port <br> (I2C, UART, SPI, GPIO, PWM, power source) |
| &nbsp;&nbsp;LED | &nbsp;&nbsp;Full Color LED |
| &nbsp;&nbsp;Extension Board | &nbsp;&nbsp;Extension Board |
| &nbsp;&nbsp;DIY Connection | &nbsp;&nbsp;14-pin extension port to 2x7 pin, 2.54mm dual in-line package, two reserved positions for 5V/3.3V power indicators, two reserved position for test indicators |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;2、RoboMaster S1 Crystal Balls水晶彈 | &nbsp;&nbsp;2、RoboMaster S1 Crystal Balls水晶彈 |
| &nbsp;&nbsp;Quantity (per bottle)數量（每瓶）： | &nbsp;&nbsp;Abt. 10000 pieces 約1萬發 |
| &nbsp;&nbsp;Diameter 水晶彈直徑： | &nbsp;&nbsp;5.9-6.8 mm |
| &nbsp;&nbsp; Crystal Ball/Pure Water ratio<br> 水晶彈/純淨水配比： | &nbsp;&nbsp; 500 pieces（Approximately a cap）/1000 ml<br> 500發（約一瓶蓋）兌1000毫升水 |
| &nbsp;&nbsp;Single Weight單顆重量： | &nbsp;&nbsp;0.12-0.17 g （Fully Soaked/完全泡開後） |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;3、Ryze Tello EDU | &nbsp;&nbsp;3、Ryze Tello EDU |
| **Aircraft** | **Aircraft** |
| &nbsp;&nbsp;Take-off weight | &nbsp;&nbsp; 87g<br> (included Battery, Propellers, Guards) |
| &nbsp;&nbsp;Size | &nbsp;&nbsp;98x92.5x41 mm |
| &nbsp;&nbsp;Propellers | &nbsp;&nbsp;3 inches |
| &nbsp;&nbsp;Built-in functions | &nbsp;&nbsp;Range Finder, Barometer, LED, Vision System, 720p Live View, Wi-Fi Connection |
| &nbsp;&nbsp;Port | &nbsp;&nbsp;Micro USB Charging Port |
| &nbsp;&nbsp;**Flight Performances** | &nbsp;&nbsp;**Flight Performances** |
| &nbsp;&nbsp;Max. Flight Distances | &nbsp;&nbsp;100m |
| &nbsp;&nbsp;Max. Speed | &nbsp;&nbsp;8 m/s |
| &nbsp;&nbsp;Max. Flight Time | &nbsp;&nbsp;13 mins |
| &nbsp;&nbsp;Max. Flight Height | &nbsp;&nbsp;30m |
| &nbsp;&nbsp;**Battery** | &nbsp;&nbsp;**Battery** |
| &nbsp;&nbsp;Detachable Battery | &nbsp;&nbsp;1.1Ah/3.8V |
| &nbsp;&nbsp;**Camera** | &nbsp;&nbsp;**Camera** |
| &nbsp;&nbsp;Photo | &nbsp;&nbsp;5MP |
| &nbsp;&nbsp;FOV | &nbsp;&nbsp;82.6° |
| &nbsp;&nbsp;Video | &nbsp;&nbsp;HD720P30 |
| &nbsp;&nbsp;Format | &nbsp;&nbsp;JPG(Photo); MP4(Video) |
| &nbsp;&nbsp;EIS | &nbsp;&nbsp;Yes |

---

---

| | |
|:---|:---|
| Confirmed By Purchaser買方確認 | Confirmed By VENDOR 供方確認 |
| /s/____________________________________ | /s/____________________________________ |

---

## Exhibit 10.11

**Exhibit 10.11**

---

| | |
|:---|:---|
| ![](ex10-11_001.jpg) | <br> SEE A BRIGHTER WAY |

---

Our Ref: JLL/CYBT/2025/L/575

**28<sup>th</sup> April 2025**

**<u>By Email & Hand In Duplicate</u>**

(Subject to Landlord's Board approval and without prejudice)

**ASK Idea (Hong Kong) Limited**

Unit 721, Level 7, Cyberport 1,

100 Cyberport Road, Hong Kong

Attention: Mr. Clive Wan

Dear Clive,

**Re: ASK Idea (DJI Education Partner x RoboMaster Club)**

**<u>Shop 106, Level 1, The Arcade, 100 Cyberport Road, Hong Kong</u>**

We are the facility management service provider of Cyberport. We act for and on behalf of the Landlord, Hong Kong Cyberport Management Company Limited (香 港 数 碼 港 管 理 有 限 公 司), in respect of the above premises. We hereby listed the renewal terms and conditions as per below:

**1.** **Licensor** 

Hong Kong Cyberport Management Company Limited.

**2.** **Licensee** 

ASK Idea (Hong Kong) Limited

**3.** **Premises** 

Shop 106, Level 1, The Arcade,100 Cyberport Road, Hong Kong.

**4.** **Use** 

The Premises must be restricted to setting up RoboMaster Youth Tournament Training Hub to provide STEM x eSport education in Cyberport under the trade name as to be approved by the Licensor from time to time or such other use permitted from time to time in writing by and at the absolute discretion of the Licensor.

The Licensor gives no warranty or guarantee that the Premises is fit for the intended use of the Premises by the Licensee who should at its own costs obtain and maintain throughout the Licence Period the requisite permit or licence from the relevant competent authority(ies)for the Licensee's intended use of the Premises.

Licensee shall fully commit to actively trade or arrange activities with dedicated staff attended to the shop during the standard Arcade opening hours.

R1-RL-2025-250171

---

| | |
|:---|:---|
| Jones Lang LaSalle Limited | T \*\*\*\*\*\*\*\* |
| Cyberport Facilities Management Office | D \*\*\*\*\*\*\*\* |
| Unit 404, Level 4, IT Street, Core A | E \*\*\*@\*\*\*.com |
| Cyberport 3,100 Cyberport Road, Hong Kong | W jll.com |

---

---

| | |
|:---|:---|
| ![](ex10-11_001.jpg) | <br> SEE A BRIGHTER WAY |

---

**5.** **License Period** 

Two (2) year fixed from 1<sup>st</sup> Jun 2025 to 31<sup>st</sup> May 2027 (Both days inclusive).

**6.** **License Fee** 

A monthly base rent ("Base Rent") at HK$6,000.00 plus a turnover rent ("Turnover Rent") at 10% of the monthly gross takings.

**7.** **Deposit** 

HK$18,000.00 subject to review.

(HK$14,850.00 shall be transferred from existing Lease).

**8.** **Execution of the License Agreement** 

The Licensee shall sign and return the Lease incorporating the commercial terms and the Special Terms and Conditions (if any) contained in this Letter on or before 12<sup>th</sup> May 2025, failing which the Landlord shall have the absolute right to treat this Letter (whether signed by the Tenant or not)as null and void and of no further effect and thereupon neither party shall have any claims against the other in respect of this Letter.

**9.** **Right to termination** 

Licensor shall have the right to terminate the License by giving the Licensee not less than 2 month's advance notice.

**10.** **Submission of Monthly Booking Report** 

The Licensee should submit monthly traffic/booking/visits report of Shop 106, The RoboMaster Youth Tournament Training Hub Project separately within next (3) days of the month end closing relates to the revenues from the Arcade and Cyberport premises, both the subject premises and any event held at the Arcade and Cyberport premises.

**11.** **Confidentiality and Non-Disclosure** 

The Tenant agrees and undertakes with the Landlord that it will hold the information contained in this Letter in strict confidence and will not disclose, copy, reproduce or distribute any of it for any purpose or to any person (except to the Tenant's professional advisers or if required by law)or otherwise without the prior written consent of the Landlord(which may be withheld in the Landlord's absolute discretion)We also agree and undertake not to register this Letter including any supplement(s) thereto at any registry (Land or otherwise)in Hong Kong.

R1-RL-2025-250171

---

| | |
|:---|:---|
| Jones Lang LaSalle Limited | T \*\*\*\*\*\*\*\* |
| Cyberport Facilities Management Office | D \*\*\*\*\*\*\*\* |
| Unit 404, Level 4, IT Street, Core A | E \*\*\*@\*\*\*.com |
| Cyberport 3,100 Cyberport Road, Hong Kong | W jll.com |

---

---

| | |
|:---|:---|
| ![](ex10-11_001.jpg) | <br> SEE A BRIGHTER WAY |

---

**12.** **Prevention of Bribery** 

The Tenant shall prohibit his directors, employees, agents, and sub-contractors who are involved in the Lease from offering, soliciting or accepting any advantage as defined in the Prevention of Bribery Ordinance, Cap 201, when conducting business in connection with this Lease. The Tenant shall take all necessary measures (including by way of a code of conduct or contractual provisions where appropriate)to ensure that his directors, employees, agents and sub-contractors are aware of the prohibitions in this clause.

The Tenant shall ensure that his agents and employees shall not give or offer any advantages as defined under the Prevention of Bribery Ordinance to any agent or employee of the Landlord in connection with this Lease. Promptly declare and notify the Landlord in writing of any potential or actual conflict of interests upon becoming aware of the same. "Conflict of interests" shall include, but are not limited to, any situation where the private interest of the Tenant, conflict or compete, or may be expected to conflict or compete, with the role, duties and/or impartiality of the Tenant.

**13.** **Standing Instruction or Autopay** 

Tenant shall set up standing instruction or autopay instruction with its bank for direct payment on all monthly fees (including Rental, Management charge, Promotional Levy, Government Rates, Facility Charge (if any) and maintain such instruction throughout the term and provide the documentary proof upon execution of the Lease. Tenant shall not cause cancellation of the instruction unless with the prior approval of the Landlord.

**14.** **Tenant Commitment on Carbon Neutrality Targets** 

The Landlord has put environmental sustainability on the priority and shoulder social responsibility to commit for the campus decarbonization. Tenant in the community shall fully support the initiatives and take part in the program adopted by Landlord including but not limited to regular carbon audits on food waste collection, waste reduction, separation and/or recycling at source. Tenant shall comply with industry guidelines (if any). Tenant shall also adopt green product design/green procurement with an objective to substantially reduce disposable plastics including disposable plastic tableware and packaging, banning the use of plastic straws and polyfoam containers (if any) but replaced with reusable or eco-friendly cutlery, etc.

**15.** **Third party's rights** 

No person, who would not have had such right or benefit but for the Contracts (Rights of Third Parties) Ordinance (Cap.623), shall have any right to enforce or be benefited from any term of this Lease.

**16.** **Governing law** 

This Lease shall be governed by the laws of the Hong Kong Special Administrative Region of the People's Republic of China (including the Basic Law and the Law of the People's Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region ("National Security Law").

R1-RL-2025-250171

---

| | |
|:---|:---|
| Jones Lang LaSalle Limited | T \*\*\*\*\*\*\*\* |
| Cyberport Facilities Management Office | D \*\*\*\*\*\*\*\* |
| Unit 404, Level 4, IT Street, Core A | E \*\*\*@\*\*\*.com |
| Cyberport 3,100 Cyberport Road, Hong Kong | W jll.com |

---

---

| | |
|:---|:---|
| ![](ex10-11_001.jpg) | <br> SEE A BRIGHTER WAY |

---

**We trust the above are in order and please denote your acceptance by signing, stamping, and returning the copy of enclosed letter on or before 12<sup>th</sup> May 2025.**

**Please do not hesitate to contact [●] at [telephone number redacted] if you have any queries.**

**Thank you for your kind attention.**

---

| | |
|:---|:---|
| **Yours sincerely.** | Confirmed and accepted by |
| **For and on behalf of** | ASK Idea (Hong Kong) Limited |
| **Hong Kong Cyberport** |  |
| **Management Company Limited** | Chop & Signature: /s/ Clive Wan |
| 香港數碼港管理有限公司 | Name: Clive Wan |
| Chop & Signature: | Designation: Director |
| /s/_____________ |  |
| Name: [●] |  |
| **Facilities Director** |  |
| Cyberport Facilities Management Office |  |
| Jones Lang LaSalle Limited |  |
| C.c. Licensor |  |

---

R1-RL-2025-250171

---

| | |
|:---|:---|
| Jones Lang LaSalle Limited | T \*\*\*\*\*\*\*\* |
| Cyberport Facilities Management Office | D \*\*\*\*\*\*\*\* |
| Unit 404, Level 4, IT Street, Core A | E \*\*\*@\*\*\*.com |
| Cyberport 3,100 Cyberport Road, Hong Kong | W jll.com |

---

## Exhibit 10.12

**Exhibit 10.12**

---

| | |
|:---|:---|
| ![](ex10-12_001.jpg) | <br> SEE A BRIGHTER WAY |

---

Our Ref: JLL/CYBT/2025/L/576

**28<sup>th</sup> April 2025**

**<u>By Email & Hand In Duplicate</u>**

(Subject to Landlord's Board approval and without prejudice)

**ASK Idea (Hong Kong) Limited**

Unit 721, Level 7, Cyberport 1,

100 Cyberport Road, Hong Kong

Attention: Mr. Clive Wan

Dear Clive,

**Re: ASK Idea (DJI Education Partner x RoboMaster Club)**

**<u>Shop 107, Level 1, The Arcade, 100 Cyberport Road, Hong Kong</u>**

We are the facility management service provider of Cyberport. We act for and on behalf of the Landlord, Hong Kong Cyberport Management Company Limited (香 港 数 碼 港 管 理 有 限 公 司), in respect of the above premises. We hereby listed the renewal terms and conditions as per below:

**1.** **Licensor** 

Hong Kong Cyberport Management Company Limited.

**2.** **Licensee** 

ASK Idea (Hong Kong) Limited

**3.** **Premises** 

Shop 107, Level 1, The Arcade,100 Cyberport Road, Hong Kong.

**4.** **Use** 

The Premises must be restricted to the operation of a first-class STEM X Esports Experience Centre under the trade name as to be approved by the Licensor from time to time or such other use permitted from time to time in writing by and at the absolute discretion of the Licensor.

The Licensor gives no warranty or guarantee that the Premises is fit for the intended use of the Premises by the Licensee who should at its own costs obtain and maintain throughout the Licence Period the requisite permit or licence from the relevant competent authority(ies)for the Licensee's intended use of the Premises.

1-RL-2025-250172

---

| | |
|:---|:---|
| Jones Lang LaSalle Limited | T \*\*\*\*\*\*\*\* |
| Cyberport Facilities Management Office | D \*\*\*\*\*\*\*\* |
| Unit 404, Level 4, IT Street, Core A | E \*\*\*@\*\*\*.com |
| Cyberport 3,100 Cyberport Road, Hong Kong | W jll.com |

---

---

| | |
|:---|:---|
| ![](ex10-12_001.jpg) | <br> SEE A BRIGHTER WAY |

---

**5.** **License Period** 

Two (2) year fixed from 1st Jun 2025 to 31st May 2027 (Both days inclusive).

**6.** **License Fee** 

A monthly base rent ("Base Rent") at HK$12,400.00 plus a turnover rent ("Turnover Rent") at 10% of the monthly gross takings.

**7.** **Deposit** 

HK$37,200.00 .

(HK$29,700.00 shall be transferred from existing Lease).

**8.** **Execution of the License Agreement** 

The Licensee shall sign and return the Lease incorporating the commercial terms and the Special Terms and Conditions (if any) contained in this Letter on or before 12<sup>th</sup> May 2025,failing which the Landlord shall have the absolute right to treat this Letter (whether signed by the Tenant or not) as null and void and of no further effect and thereupon neither party shall have any claims against the other in respect of this Letter.

**9.** **Right to termination** 

Licensor shall have the right to terminate the License by giving the Licensee not less than 2 month's advance notice.

**10.** **Submission of Monthly Booking Report** 

The Licensee shall timely report monthly Gross Taking ("MGT") as well as the number of transaction every month.

**11.** **Confidentiality and Non-Disclosure** 

The Tenant agrees and undertakes with the Landlord that it will hold the information contained in this Letter in strict confidence and will not disclose, copy, reproduce or distribute any of it for any purpose or to any person (except to the Tenant's professional advisers or if required by law)or otherwise without the prior written consent of the Landlord(which may be withheld in the Landlord's absolute discretion)We also agree and undertake not to register this Letter including any supplement(s) thereto at any registry (Land or otherwise) in Hong Kong.

**12.** **Prevention of Bribery** 

The Tenant shall prohibit his directors, employees, agents, and sub-contractors who are involved in the Lease from offering, soliciting or accepting any advantage as defined in the Prevention of Bribery Ordinance, Cap 201, when conducting business in connection with this Lease. The Tenant shall take all necessary measures (including by way of a code of conduct or contractual provisions where appropriate) to ensure that his directors, employees, agents and sub-contractors are aware of the prohibitions in this clause.

1-RL-2025-250172

---

| | |
|:---|:---|
| Jones Lang LaSalle Limited | T \*\*\*\*\*\*\*\* |
| Cyberport Facilities Management Office | D \*\*\*\*\*\*\*\* |
| Unit 404, Level 4, IT Street, Core A | E \*\*\*@\*\*\*.com |
| Cyberport 3,100 Cyberport Road, Hong Kong | W jll.com |

---

---

| | |
|:---|:---|
| ![](ex10-12_001.jpg) | <br> SEE A BRIGHTER WAY |

---

The Tenant shall ensure that his agents and employees shall not give or offer any advantages as defined under the Prevention of Bribery Ordinance to any agent or employee of the Landlord in connection with this Lease. Promptly declare and notify the Landlord in writing of any potential or actual conflict of interests upon becoming aware of the same. "Conflict of interests" shall include, but are not limited to, any situation where the private interest of the Tenant, conflict or compete, or may be expected to conflict or compete, with the role, duties and/or impartiality of the Tenant.

**13.** **Standing Instruction or Autopay** 

Tenant shall set up standing instruction or autopay instruction with its bank for direct payment on all monthly fees (including Rental, Management charge, Promotional Levy, Government Rates, Facility Charge (if any) and maintain such instruction throughout the term and provide the documentary proof upon execution of the Lease. Tenant shall not cause cancellation of the instruction unless with the prior approval of the Landlord.

**14.** **Tenant Commitment on Carbon Neutrality Targets** 

The Landlord has put environmental sustainability on the priority and shoulder social responsibility to commit for the campus decarbonization. Tenant in the community shall fully support the initiatives and take part in the program adopted by Landlord including but not limited to regular carbon audits on food waste collection, waste reduction, separation and/or recycling at source. Tenant shall comply with industry guidelines (if any). Tenant shall also adopt green product design/green procurement with an objective to substantially reduce disposable plastics including disposable plastic tableware and packaging, banning the use of plastic straws and polyfoam containers (if any) but replaced with reusable or eco-friendly cutlery, etc.

**15.** **Third party's rights** 

No person, who would not have had such right or benefit but for the Contracts (Rights of Third Parties) Ordinance (Cap.623), shall have any right to enforce or be benefited from any term of this Lease.

**16.** **Governing law** 

This Lease shall be governed by the laws of the Hong Kong Special Administrative Region of the People's Republic of China (including the Basic Law and the Law of the People's Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region ("National Security Law").

**17.** **Smart Elements** 

A LED display monitor should be placed at the shop front to show the Cyberport collaboration program.

1-RL-2025-250172

---

| | |
|:---|:---|
| Jones Lang LaSalle Limited | T \*\*\*\*\*\*\*\* |
| Cyberport Facilities Management Office | D \*\*\*\*\*\*\*\* |
| Unit 404, Level 4, IT Street, Core A | E \*\*\*@\*\*\*.com |
| Cyberport 3,100 Cyberport Road, Hong Kong | W jll.com |

---

---

| | |
|:---|:---|
| ![](ex10-12_001.jpg) | <br> SEE A BRIGHTER WAY |

---

**We trust the above are in order and please denote your acceptance by signing, stamping, and returning the copy of enclosed letter on or before 12<sup>th</sup> May 2025.**

**Please do not hesitate to contact [●] at [telephone number redacted] if you have any queries.**

**Thank you for your kind attention.**

---

| | |
|:---|:---|
| **Yours sincerely.** | Confirmed and accepted by |
| **For and on behalf of** | ASK Idea (Hong Kong) Limited |
| **Hong Kong Cyberport** |  |
| **Management Company Limited** | Chop & Signature: /s/ Clive Wan |
| 香港數碼港管理有限公司 | Name: Clive Wan |
| Chop & Signature: | Designation: Director |
| /s/_____________ |  |
| Name: [●] |  |
| Facilities Director |  |
| Cyberport Facilities Management Office |  |
| Jones Lang LaSalle Limited |  |
| C.c. Licensor |  |

---

1-RL-2025-250172

---

| | |
|:---|:---|
| Jones Lang LaSalle Limited | T \*\*\*\*\*\*\*\* |
| Cyberport Facilities Management Office | D \*\*\*\*\*\*\*\* |
| Unit 404, Level 4, IT Street, Core A | E \*\*\*@\*\*\*.com |
| Cyberport 3,100 Cyberport Road, Hong Kong | W jll.com |

---

## Exhibit 14.1

**Exhibit 14.1**

**Idea Tech Holding Limited** 

**Code of Ethics and Business Conduct**

<u>1. Introduction</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 The Board of Directors (the "**Board**") of Idea Tech Holding Limited (the "**Company**") has adopted this Code of Ethics and Business Conduct (the "**Code**") in order to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) promote honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) promote full, fair, accurate, timely and understandable disclosure in reports and documents that the Company files with, or submits to, the Securities and Exchange Commission (the "**SEC**") and in other public communications made by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) promote compliance with applicable governmental laws, rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) promote the protection of Company assets, including corporate opportunities and confidential information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) promote fair dealing practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) deter wrongdoing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) ensure accountability for adherence to the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 All directors, officers and employees are required to be familiar with the Code, comply with its provisions and report any suspected violations as described below in Section 10, Reporting and Enforcement.

<u>2. Honest and Ethical Conduct</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 The Company's policy is to promote high standards of integrity by conducting its affairs honestly and ethically.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 Each director, officer and employee must act with integrity and observe the highest ethical standards of business conduct in his or her dealings with the Company's customers, suppliers, partners, service providers, competitors, employees and anyone else with whom he or she has contact in the course of performing his or her job.

<u>3. Conflicts of Interest</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 A conflict of interest occurs when an individual's private interest (or the interest of a member of his or her family) interferes, or even appears to interfere, with the interests of the Company as a whole. A conflict of interest can arise when an employee, officer or director (or a member of his or her family) takes actions or has interests that may make it difficult to perform his or her work for the Company objectively and effectively. Conflicts of interest also arise when an employee, officer or director (or a member of his or her family) receives improper personal benefits as a result of his or her position in the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 Loans by the Company to, or guarantees by the Company of obligations of, employees or their family members are of special concern and could constitute improper personal benefits to the recipients of such loans or guarantees, depending on the facts and circumstances. Loans by the Company to, or guarantees by the Company of obligations of, any director or executive officer or their family members are expressly prohibited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 Whether or not a conflict of interest exists or will exist can be unclear. Conflicts of interest should be avoided unless specifically authorized as described in Section 3.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 Persons other than directors and executive officers who have questions about a potential conflict of interest or who become aware of an actual or potential conflict should discuss the matter with, and seek a determination and prior authorization or approval from, their supervisor or the Chief Financial Officer. A supervisor may not authorize or approve conflict of interest matters or make determinations as to whether a problematic conflict of interest exists without first providing the Chief Financial Officer with a written description of the activity and seeking the Chief Financial Officer's written approval. If the supervisor is himself involved in the potential or actual conflict, the matter should instead be discussed directly with the Chief Financial Officer.

Directors and executive officers must seek determinations and prior authorizations or approvals of potential conflicts of interest exclusively from the Audit Committee.

<u>4. Compliance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 Employees, officers and directors should comply, both in letter and spirit, with all applicable laws, rules and regulations in the cities, states and countries in which the Company operates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 Although not all employees, officers and directors are expected to know the details of all applicable laws, rules and regulations, it is important to know enough to determine when to seek advice from appropriate personnel. Questions about compliance should be addressed to the Legal Department.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 No director, officer or employee may purchase or sell any Company securities while in possession of material nonpublic information regarding the Company, nor may any director, officer or employee purchase or sell another company's securities while in possession of material nonpublic information regarding that company. It is against Company policies and illegal for any director, officer or employee to use material nonpublic information regarding the Company or any other company to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) obtain profit for himself or herself; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) directly or indirectly "tip" others who might make an investment decision on the basis of that information.

<u>5. Disclosure</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 The Company's periodic reports and other documents filed with the SEC, including all financial statements and other financial information, must comply with applicable federal securities laws and SEC rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 Each director, officer and employee who contributes in any way to the preparation or verification of the Company's financial statements and other financial information must ensure that the Company's books, records and accounts are accurately maintained. Each director, officer and employee must cooperate fully with the Company's accounting and internal audit departments, as well as the Company's independent public accountants and counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 Each director, officer and employee who is involved in the Company's disclosure process must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) be familiar with and comply with the Company's disclosure controls and procedures and its internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) take all necessary steps to ensure that all filings with the SEC and all other public communications about the financial and business condition of the Company provide full, fair, accurate, timely and understandable disclosure.

<u>6. Protection and Proper Use of Company Assets</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 All directors, officers and employees should protect the Company's assets and ensure their efficient use. Theft, carelessness and waste have a direct impact on the Company's profitability and are prohibited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 All Company assets should be used only for legitimate business purposes. Any suspected incident of fraud or theft should be reported for investigation immediately.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 The obligation to protect Company assets includes the Company's proprietary information. Proprietary information includes intellectual property such as trade secrets, patents, trademarks, and copyrights, as well as business and marketing plans, engineering and manufacturing ideas, designs, databases, records and any nonpublic financial data or reports. Unauthorized use or distribution of this information is prohibited and could also be illegal and result in civil or criminal penalties.

<u>7. Corporate Opportunities</u>. All directors, officers and employees owe a duty to the Company to advance its interests when the opportunity arises. Directors, officers and employees are prohibited from taking for themselves personally (or for the benefit of friends or family members) opportunities that are discovered through the use of Company assets, property, information or position. Directors, officers and employees may not use Company assets, property, information or position for personal gain (including gain of friends or family members). In addition, no director, officer or employee may compete with the Company.

<u>8. Confidentiality</u>. Directors, officers and employees should maintain the confidentiality of information entrusted to them by the Company or by its customers, suppliers or partners, except when disclosure is expressly authorized or is required or permitted by law. Confidential information includes all nonpublic information (regardless of its source) that might be of use to the Company's competitors or harmful to the Company or its customers, suppliers or partners if disclosed.

<u>9. Fair Dealing</u>. Each director, officer and employee must deal fairly with the Company's customers, suppliers, partners, service providers, competitors, employees and anyone else with whom he or she has contact in the course of performing his or her job. No director, officer or employee may take unfair advantage of anyone through manipulation, concealment, abuse or privileged information, misrepresentation of facts or any other unfair dealing practice.

<u>10. Reporting and Enforcement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 Reporting and Investigation of Violations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Actions prohibited by this Code involving directors or executive officers must be reported to the Audit Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Actions prohibited by this Code involving anyone other than a director or executive officer must be reported to the reporting person's supervisor or the Chief Financial Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) After receiving a report of an alleged prohibited action, the Audit Committee, the relevant supervisor or the Chief Financial Officer must promptly take all appropriate actions necessary to investigate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) All directors, officers and employees are expected to cooperate in any internal investigation of misconduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 Enforcement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company must ensure prompt and consistent action against violations of this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If, after investigating a report of an alleged prohibited action by a director or executive officer, the Audit Committee determines that a violation of this Code has occurred, the Audit Committee will report such determination to the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If, after investigating a report of an alleged prohibited action by any other person, the relevant supervisor or the Chief Financial Officer determines that a violation of this Code has occurred, the supervisor or the Chief Financial Officer will report such determination to the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Upon receipt of a determination that there has been a violation of this Code, the Board will take such preventative or disciplinary action as it deems appropriate, including, but not limited to, reassignment, demotion, dismissal and, in the event of criminal conduct or other serious violations of the law, notification of appropriate governmental authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 Waivers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Board may, in its discretion, waive any violation of this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any waiver for a director or an executive officer shall be disclosed as required by SEC and Nasdaq rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 Prohibition on Retaliation.

The Company does not tolerate acts of retaliation against any director, officer or employee who makes a good faith report of known or suspected acts of misconduct or other violations of this Code.

## Exhibit 14.2

**Exhibit 14.2**

**Idea Tech Holding Limited**

**Insider Trading Policy**

This Insider Trading Policy describes the standards of Idea Tech Holding Limited and its subsidiaries (the "**Company**") on trading, and causing the trading of, the Company's securities or securities of certain other publicly traded companies while in possession of confidential information. This Policy is divided into two parts: the first part prohibits trading in certain circumstances and applies to all directors, officers and employees and their respective immediate family members of the Company and the second part imposes special additional trading restrictions and applies to all (i) directors of the Company, (ii) executive officers of the Company (together with the directors, "**Company Insiders**"), and (iii) certain other employees that the Company may designate from time to time as "Covered Persons" because of their position, responsibilities or their actual or potential access to material information.

One of the principal purposes of the federal securities laws is to prohibit so-called "insider trading." Simply stated, insider trading occurs when a person uses material nonpublic information obtained through involvement with the Company to make decisions to purchase, sell, give away or otherwise trade the Company's securities or the securities of certain other companies or to provide that information to others outside the Company. The prohibitions against insider trading apply to trades, tips and recommendations by virtually any person, including all persons associated with the Company, if the information involved is "material" and "nonpublic." These terms are defined in this Policy under Part I, Section 3 below. The prohibitions would apply to any director, officer or employee who buys or sells securities on the basis of material nonpublic information that he or she obtained about the Company, its customers, suppliers, partners, competitors or other companies with which the Company has contractual relationships or may be negotiating transactions.

**PART I**

<u>1. Applicability</u>

This Policy applies to all trading or other transactions in (i) the Company's securities, including common stock, options and any other securities that the Company may issue, such as preferred stock, notes, bonds and convertible securities, as well as to derivative securities relating to any of the Company's securities, whether or not issued by the Company and (ii) the securities of certain other companies, including common stock, options and other securities issued by those companies as well as derivative securities relating to any of those companies' securities.

This Policy applies to all employees of the Company, all officers of the Company and all members of the Company's board of directors, officers, employees, and their respective family members.

<u>2. General Policy: No Trading or Causing Trading While in Possession of Material Nonpublic Information</u>

**(a)** No director, officer or employee or any of their immediate family members may purchase or sell, or offer to purchase or sell, any Company security, whether or not issued by the Company, while in possession of material nonpublic information about the Company. (The terms "material" and "nonpublic" are defined in Part I, Section 3(a) and (b) below.)

**(b)** No director, officer or employee or any of their immediate family members who knows of any material nonpublic information about the Company may communicate that information to ("**tip**") any other person, including family members and friends, or otherwise disclose such information without the Company's authorization.

**(c)** No director, officer or employee or any of their immediate family members may purchase or sell any security of any other publicly-traded company while in possession of material nonpublic information that was obtained in the course of his or her involvement with the Company. No director, officer or employee or any of their immediate family members who knows of any such material nonpublic information may communicate that information to, or tip, any other person, including family members and friends, or otherwise disclose such information without the Company's authorization.

**(d)** For compliance purposes, you should never trade, tip or recommend securities (or otherwise cause the purchase or sale of securities) while in possession of information that you have reason to believe is material and nonpublic unless you first consult with, and obtain the advance approval of, the Compliance Officer (which is defined in Part I, Section 3(c) below).

**(e)** Covered Persons must "pre-clear" all trading in securities of the Company in accordance with the procedures set forth in Part II, Section 3 below.

<u>3. Definitions</u>

**<u>(a) Material.</u>** Insider trading restrictions come into play only if the information you possess is "material." Materiality, however, involves a relatively low threshold. Information is generally regarded as "material" if it has market significance, that is, if its public dissemination is likely to affect the market price of securities, or if it otherwise is information that a reasonable investor would want to know before making an investment decision.

Information dealing with the following subjects is reasonably likely to be found material in particular situations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) significant changes in the Company's prospects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) significant write-downs in assets or increases in reserves;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) developments regarding significant litigation or government agency investigations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) liquidity problems;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) changes in earnings estimates or unusual gains or losses in major operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) major changes in the Company's management or the board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) changes in dividends;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) extraordinary borrowings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) major changes in accounting methods or policies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) award or loss of a significant contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) cybersecurity risks and incidents, including vulnerabilities and breaches;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) changes in debt ratings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) proposals, plans or agreements, even if preliminary in nature, involving mergers, acquisitions, divestitures, recapitalizations, strategic alliances, licensing arrangements, or purchases or sales of substantial assets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) offerings of Company securities.

Material information is not limited to historical facts but may also include projections and forecasts. With respect to a future event, such as a merger, acquisition or introduction of a new product, the point at which negotiations or product development are determined to be material is determined by balancing the probability that the event will occur against the magnitude of the effect the event would have on a company's operations or stock price should it occur. Thus, information concerning an event that would have a large effect on stock price, such as a merger, may be material even if the possibility that the event will occur is relatively small. When in doubt about whether particular nonpublic information is material, you should presume it is material. **If you are unsure whether information is material, you should either consult the Compliance Officer before making any decision to disclose such information (other than to persons who need to know it) or to trade in or recommend securities to which that information relates or assume that the information is material.**

**<u>(b) Nonpublic.</u>** Insider trading prohibitions come into play only when you possess information that is material and "nonpublic." The fact that information has been disclosed to a few members of the public does not make it public for insider trading purposes. To be "public" the information must have been disseminated in a manner designed to reach investors generally, and the investors must be given the opportunity to absorb the information. Even after public disclosure of information about the Company, you must wait until the close of business on the second trading day after the information was publicly disclosed before you can treat the information as public.

Nonpublic information may include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) information available to a select group of analysts or brokers or institutional investors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) undisclosed facts that are the subject of rumors, even if the rumors are widely circulated; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) information that has been entrusted to the Company on a confidential basis until a public announcement of the information has been made and enough time has elapsed for the market to respond to a public announcement of the information, normally two trading days.

**As with questions of materiality, if you are not sure whether information is considered public, you should either consult with the Compliance Officer or assume that the information is nonpublic and treat it as confidential.**

**<u>(c) Compliance Officer.</u>** The Company has appointed the Chief Financial Officer as the Compliance Officer for this Policy. The duties of the Compliance Officer include, but are not limited to, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) assisting with implementation and enforcement of this Policy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) circulating this Policy to all employees and ensuring that this Policy is amended as necessary to remain up-to-date with insider trading laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) pre-clearing all trading in securities of the Company by Covered Persons in accordance with the procedures set forth in Part II, Section 3 below; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) providing approval of any Rule 10b5-1 plans under Part II, Section 1(c) below and any prohibited transactions under Part II, Section 4 below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) providing a reporting system with an effective whistleblower protection mechanism.

<u>4. Exceptions</u>

The trading restrictions of this Policy do not apply to exercising stock options granted under the Company's current or future equity incentive plans or option plans for cash or the delivery of previously owned Company stock. However, the sale of any shares issued on the exercise of Company-granted stock options and any cashless exercise of Company-granted stock options are subject to trading restrictions under this Policy.

<u>5. Violations of Insider Trading Laws</u>

Penalties for trading on or communicating material nonpublic information can be severe, both for individuals involved in such unlawful conduct and their employers and supervisors, and may include jail terms, criminal fines, civil penalties and civil enforcement injunctions. Given the severity of the potential penalties, compliance with this Policy is absolutely mandatory.

**<u>(a) Legal Penalties.</u>** A person who violates insider trading laws by engaging in transactions in a company's securities when he or she has material nonpublic information can be sentenced to a substantial jail term and required to pay a criminal penalty of several times the amount of profits gained or losses avoided.

In addition, a person who tips others may also be liable for transactions by the tippees to whom he or she has disclosed material nonpublic information. Tippers can be subject to the same penalties and sanctions as the tippees, and the SEC has imposed large penalties even when the tipper did not profit from the transaction.

The SEC can also seek substantial civil penalties from any person who, at the time of an insider trading violation, "directly or indirectly controlled the person who committed such violation," which would apply to the Company and/or management and supervisory personnel. These control persons may be held liable for up to the greater of $1 million or three times the amount of the profits gained or losses avoided. Even for violations that result in a small or no profit, the SEC can seek penalties from a company and/or its management and supervisory personnel as control persons.

**<u>(b) Company-Imposed Penalties.</u>** Employees who violate this Policy may be subject to disciplinary action by the Company, including dismissal for cause. Any exceptions to the Policy, if permitted, may only be granted by the Compliance Officer and must be provided before any activity contrary to the above requirements takes place.

<u>6. Inquiries</u>

If you have any questions regarding any of the provisions of this Policy, please contact the Company's Compliance Officer.

**PART II**

<u>1. Blackout Periods</u>

All Covered Persons are prohibited from trading in the Company's securities during blackout periods as defined below.

**<u>(a) Quarterly Blackout Periods.</u>** Trading in the Company's securities is prohibited during the period beginning at the close of the market on two weeks before the end of each fiscal quarter and ending at the close of business on the second trading day following the date the Company's financial results are publicly disclosed. During these periods, Covered Persons generally possess or are presumed to possess material nonpublic information about the Company's financial results.

**<u>(b) Other Blackout Periods.</u>** From time to time, other types of material nonpublic information regarding the Company (such as negotiation of mergers, acquisitions or dispositions, investigation and assessment of cybersecurity incidents or new product developments) may be pending and not be publicly disclosed. While such material nonpublic information is pending, the Company may impose special blackout periods during which Covered Persons are prohibited from trading in the Company's securities. If the Company imposes a special blackout period, it will notify the Covered Persons affected.

**<u>(c) Exception.</u>** These trading restrictions do not apply to transactions under a pre-existing written plan, contract, instruction, or arrangement under Rule 10b5-1 under the Securities Exchange Act of 1934 (an "**Approved 10b5-1 Plan**") that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) has been reviewed and approved at least one month in advance of any trades thereunder by the Compliance Officer (or, if revised or amended, such revisions or amendments have been reviewed and approved by the Compliance Officer at least one month in advance of any subsequent trades);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) was entered into in good faith by the Covered Person at a time when the Covered Person was not in possession of material nonpublic information about the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) gives a third party the discretionary authority to execute such purchases and sales, outside the control of the Covered Person, so long as such third party does not possess any material nonpublic information about the Company; or explicitly specifies the security or securities to be purchased or sold, the number of shares, the prices and/or dates of transactions, or other formula(s) describing such transactions.

<u>2. Trading Window</u>

Covered Persons are permitted to trade in the Company's securities when no blackout period is in effect. Generally, this means that Covered Persons can trade during the period beginning on DAY THAT BLACKOUT PERIOD UNDER SECTION 1(A) ENDS and ending on DAY THAT NEXT BLACKOUT PERIOD UNDER SECTION 1(A) BEGINS. However, even during this trading window, a Covered Person who is in possession of any material nonpublic information should not trade in the Company's securities until the information has been made publicly available or is no longer material. In addition, the Company may close this trading window if a special blackout period under Part II, Section 1(b) above is imposed and will re-open the trading window once the special blackout period has ended.

<u>3. Pre-Clearance of Securities Transactions</u>

**(a)** Because Company Insiders are likely to obtain material nonpublic information on a regular basis, the Company requires all such persons to refrain from trading, even during a trading window under Part II, Section 2 above, without first pre-clearing all transactions in the Company's securities.

**(b)** Subject to the exemption in subsection (d) below, no Company Insider may, directly or indirectly, purchase or sell (or otherwise make any transfer, gift, pledge or loan of) any Company security at any time without first obtaining prior approval from the Compliance Officer. These procedures also apply to transactions by such person's spouse, other persons living in such person's household and minor children and to transactions by entities over which such person exercises control.

**(c)** The Compliance Officer shall record the date each request is received and the date and time each request is approved or disapproved. Unless revoked, a grant of permission will normally remain valid until the close of trading two business days following the day on which it was granted. If the transaction does not occur during the two-day period, pre-clearance of the transaction must be re-requested.

**(d)** Pre-clearance is not required for purchases and sales of securities under an Approved 10b5-1 Plan. With respect to any purchase or sale under an Approved 10b5-1 Plan, the third party effecting transactions on behalf of the Company Insider should be instructed to send duplicate confirmations of all such transactions to the Compliance Officer.

<u>4. Prohibited Transactions</u>

**(a)** Company Insiders are prohibited from trading in the Company's equity securities during a blackout period imposed under an "individual account" retirement or pension plan of the Company, during which at least 50% of the plan participants are unable to purchase, sell or otherwise acquire or transfer an interest in equity securities of the Company, due to a temporary suspension of trading by the Company or the plan fiduciary.

**(b)** Covered Persons, including any person's spouse, other persons living in such person's household and minor children and entities over which such person exercises control, are prohibited from engaging in the following transactions in the Company's securities unless advance approval is obtained from the Compliance Officer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(i) Short-term trading.</u> Company Insiders who purchase Company securities may not sell any Company securities of the same class for at least six months after the purchase;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(ii) Short sales.</u> Company Insiders/Covered Persons may not sell the Company's securities short;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(iii) Options trading.</u> Covered Persons may not buy or sell puts or calls or other derivative securities on the Company's securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(iv) Trading on margin or pledging.</u> Covered Persons may not hold Company securities in a margin account or pledge Company securities as collateral for a loan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(v) Hedging.</u> Covered Persons may not enter into hedging or monetization transactions or similar arrangements with respect to Company securities.

<u>5. Acknowledgment and Certification</u>

All Covered Persons are required to sign the attached acknowledgment and certification.

**ACKNOWLEDGMENT AND CERTIFICATION**

The undersigned does hereby acknowledge receipt of the Company's Insider Trading Policy. The undersigned has read and understands (or has had explained) such Policy and agrees to be governed by such Policy at all times in connection with the purchase and sale of securities and the confidentiality of nonpublic information.

---

| |
|:---|
| (Signature) |
| (Please print name) |
| Date: |

---

## Exhibit 14.3

**Exhibit 14.3**

**Idea Tech Holding Limited**

**Executive Compensation Recovery Policy**

This policy covers the Covered Officers of Idea Tech Holding Limited (the "<u>Company</u>") and explains when the Company will be required or authorized, as applicable, to seek recovery of Incentive Compensation awarded or paid to Covered Officers. Please refer to <u>Exhibit A</u> attached hereto (the "<u>Definitions Exhibit</u>") for the definitions of capitalized terms used throughout this Policy.

**1.** **Miscalculation of Financial Performance Measure Results.** In the event of a Restatement, the Company will seek to recover, reasonably promptly, all Recoverable Incentive Compensation from a Covered
Officer during the Applicable Period. Such recovery, in the case of a Restatement, will be made without regard to any individual knowledge
or responsibility related to the Restatement or the Recoverable Incentive Compensation. Notwithstanding the foregoing, if the Company
is required to undertake a Restatement, the Company will not be required to recover the Recoverable Incentive Compensation if the Compensation
Committee determines it Impracticable to do so, after exercising a normal due process review of all the relevant facts and circumstances.

The Company will seek to recover all Recoverable Incentive Compensation that was awarded or paid in accordance with the definition of "Recoverable Incentive Compensation" set forth on the Definitions Exhibit. If such Recoverable Incentive Compensation was not awarded or paid on a formulaic basis, the Company will seek to recover the amount that the Compensation Committee determines in good faith should be recouped.

**2.** **Legal and Compliance Violations**. Compliance with the
law and the Company's corporate policies is a pre-condition to earning Incentive Compensation. If the Company in its sole discretion
concludes that a Covered Officer (1) committed a significant legal or compliance violation in connection with the Covered Officer's
employment, including a violation of the Company's corporate policies (each, " <u>Misconduct</u> "), or (2) was aware
of or willfully blind to Misconduct that occurred in an area over which the Covered Officer had supervisory authority, the Company may,
at the direction of the Compensation Committee, seek recovery of all or a portion of the Recoverable Incentive Compensation awarded or
paid to the Covered Officer for the Applicable Period in which the violation occurred. In addition, the Company may, at the direction
of the Compensation Committee, conclude that any unpaid or unvested Incentive Compensation has not been earned and must be forfeited.

In the event of Misconduct, the Company may seek recovery of Recoverable Incentive Compensation even if the Misconduct did not result in an award or payment greater than would have been awarded or paid absent the Misconduct.

In the event of Misconduct, in determining whether to seek recovery and the amount, if any, by which the payment or award should be reduced, the Compensation Committee may consider—among other things— the seriousness of the Misconduct, whether the Covered Officer was unjustly enriched, whether seeking the recovery would prejudice the Company's interests in any way, including in a proceeding or investigation, and any other factors it deems relevant to the determination.

**3.** **Other Actions**. The Compensation Committee may, subject
to applicable law, seek recovery in the manner it chooses, including by seeking reimbursement from the Covered Officer of all or part
of the compensation awarded or paid, by electing to withhold unpaid compensation, by set-off, or by rescinding or canceling unvested
stock.

In the reasonable exercise of its business judgment under this Policy, the Compensation Committee may in its sole discretion determine whether and to what extent additional action is appropriate to address the circumstances surrounding a Restatement or Misconduct to minimize the likelihood of any recurrence and to impose such other discipline as it deems appropriate.

**4.** **No Indemnification or Reimbursement**. Notwithstanding
the terms of any other policy, program, agreement or arrangement, in no event will the Company or any of its affiliates indemnify or
reimburse a Covered Officer for any loss under this Policy and in no event will the Company or any of its affiliates pay premiums on
any insurance policy that would cover a Covered Officer's potential obligations with respect to Recoverable Incentive Compensation
under this Policy.

**5.** **Administration of Policy**. The Compensation Committee
will have full authority to administer this Policy. Actions of the Compensation Committee pursuant to this Policy will be taken by the
vote of a majority of its members. The Compensation Committee will, subject to the provisions of this Policy and Rule 10D-1 of the Securities
Exchange Act of 1934, as amended (the " <u>Exchange Act</u> "), and the Company's applicable exchange listing standards,
make such determinations and interpretations and take such actions in connection with this Policy as it deems necessary, appropriate
or advisable. All determinations and interpretations made by the Compensation Committee will be final, binding and conclusive.

**6.** **Other Claims and Rights**. The remedies under this Policy
are in addition to, and not in lieu of, any legal and equitable claims the Company or any of its affiliates may have or any actions that
may be imposed by law enforcement agencies, regulators, administrative bodies, or other authorities. Further, the exercise by the Compensation
Committee of any rights pursuant to this Policy will not impact any other rights that the Company or any of its affiliates may have with
respect to any Covered Officer subject to this Policy.

**7.** **Condition to Eligibility for Incentive Compensation**.
All Incentive Compensation subject to this Policy will not be earned, even if already paid, until the Policy ceases to apply to such
Incentive Compensation and any other vesting conditions applicable to such Incentive Compensation are satisfied.

**8.** **Amendment; Termination**. The Board or the Compensation
Committee may amend or terminate this Policy at any time.

**9.** **Effectiveness**. Except as otherwise determined in writing
by the Compensation Committee, this Policy will apply to any Incentive Compensation that (a) in the case of any Restatement, is Received
by Covered Officers prior to, on or following the Effective Date, and (b) in the case of Misconduct, is awarded or paid to a Covered
Officer on or after the Effective Date. This Policy will survive and continue notwithstanding any termination of a Covered Officer's
employment with the Company and its affiliates.

**10.** **Successors**. This Policy shall be binding and enforceable
against all Covered Officers and their successors, beneficiaries, heirs, executors, administrators, or other legal representatives.

**11.** **Governing Law**. To the extent not preempted by U.S.
federal law, this Policy will be governed by and construed in accordance with the laws of the State of New York, without reference to
principles of conflict of laws.

**<u>EXHIBIT A</u>**

**<u>DEFINITIONS</u>**

"<u>Applicable Period</u>" means (a) in the case of any Restatement, the three completed fiscal years of the Company immediately preceding the earlier of (i) the date the Board, a committee of the Board, or the officer or officers of the Company authorized to take such action if Board action is not required, concludes (or reasonably should have concluded) that a Restatement is required or (ii) the date a regulator, court or other legally authorized entity directs the Company to undertake a Restatement, and (b) in the case of any Misconduct, such period as the Compensation Committee or Board determines to be appropriate in light of the scope and nature of the Misconduct. The "Applicable Period" also includes any transition period (that results from a change in the Company's fiscal year) within or immediately following the three completed fiscal years identified in the preceding sentence.

"<u>Board</u>" means the Board of Directors of the Company.

"<u>Compensation Committee</u>" means the Company's committee of independent directors responsible for executive compensation decisions, or in the absence of such a committee, a majority of the independent directors serving on the Board.

"<u>Covered Officer</u>" means (a) in the case of any Restatement, any person who is, or was at any time, during the Applicable Period, an Executive Officer of the Company, and (b) in the case of any Misconduct, any person who was an Executive Officer at the time of the Misconduct. For the avoidance of doubt, a Covered Officer may include a former Executive Officer that left the Company, retired, or transitioned to an employee role (including after serving as an Executive Officer in an interim capacity) during the Applicable Period.

"<u>Effective Date</u>" means the date of listing on Nasdaq or January 1, 2025, whichever is earlier.

"<u>Executive Officer</u>" means the Company's president, principal financial officer, principal accounting officer (or if there is no such accounting officer, the controller), any vice-president in charge of a principal business unit, division, or function (such as sales, administration, or finance), any other officer who performs a policy-making function, or any other person (including an officer of the Company's parent(s) or subsidiaries) who performs similar policy-making functions for the Company.

"<u>Financial Performance Measure</u>" means a measure that is determined and presented in accordance with the accounting principles used in preparing the Company's financial statements (including "non-GAAP" financial measures, such as those appearing in the Company's earnings releases or Management Discussion and Analysis), and any measure that is derived wholly or in part from such measure. Stock price and total shareholder return (and any measures derived wholly or in part therefrom) shall be considered Financial Performance Measures.

"<u>Impracticable</u>." The Compensation Committee may determine in good faith that recovery of Recoverable Incentive Compensation is "Impracticable" (a) in the case of any Restatement, if: (i) pursuing such recovery would violate home country law of the jurisdiction of incorporation of the Company where that law was adopted prior to October 2, 2023 and the Company provides an opinion of counsel to that effect acceptable to the Company's listing exchange; (ii) the direct expense paid to a third party to assist in enforcing this Policy would exceed the Recoverable Incentive Compensation and the Company has (A) made a reasonable attempt to recover such amounts and (B) provided documentation of such attempts to recover to the Company's applicable listing exchange; or (iii) recovery would likely cause an otherwise tax-qualified retirement plan, under which benefits are broadly available to employees of the Company, to fail to meet the requirements of the Internal Revenue Code of 1986, as amended, and (b) in the case of any Misconduct, in its sole discretion, in light of the scope and nature of the Misconduct.

"<u>Incentive Compensation</u>" means any compensation that is granted, earned, or vested based wholly or in part upon the attainment of a Financial Performance Measure. Incentive Compensation does not include any base salaries (except with respect to any salary increases earned wholly or in part based on the attainment of a Financial Performance Measure performance goal); bonuses paid solely at the discretion of the Compensation Committee or Board that are not paid from a "bonus pool" that is determined by satisfying a Financial Performance Measure performance goal; bonuses paid solely upon satisfying one or more subjective standards and/or completion of a specified employment period; non-equity incentive plan awards earned solely upon satisfying one or more strategic measures or operational measures; and equity awards that vest solely based on the passage of time and/or attaining one or more non-Financial Performance Measures. Notwithstanding the foregoing, in the case of any Misconduct, Incentive Compensation will include all forms of cash and equity incentive compensation, including, without limitation, cash bonuses and equity awards that are received or vest solely based on the passage of time and/or attaining one or more non-Financial Performance Measures.

"<u>Received</u>." Incentive Compensation is deemed "Received" in the Company's fiscal period during which the Financial Performance Measure specified in the Incentive Compensation award is attained, even if the payment or grant of the Incentive Compensation occurs after the end of that period.

"<u>Recoverable Incentive Compensation</u>" means (a) in the case of any Restatement, the amount of any Incentive Compensation (calculated on a pre-tax basis) Received by a Covered Officer during the Applicable Period that is in excess of the amount that otherwise would have been Received if the calculation were based on the Restatement, and (b) in the case of any Misconduct, the amount of any Incentive Compensation (calculated on a pre-tax basis) awarded or paid to a Covered Officer during the Applicable Period that the Compensation Committee determines, in its sole discretion, to be appropriate in light of the scope and nature of the Misconduct. For the avoidance of doubt, in the case of any Restatement, Recoverable Incentive Compensation does not include any Incentive Compensation Received by a person (i) before such person began service as a Covered Officer and (ii) who did not serve as a Covered Officer at any time during the performance period for that Incentive Compensation. For the avoidance of doubt, in the case of any Restatement, Recoverable Incentive Compensation may include Incentive Compensation Received by a person while serving as an employee if such person previously served as a Covered Officer and then transitioned to an employee role. For Incentive Compensation based on (or derived from) stock price or total shareholder return where the amount of Recoverable Incentive Compensation is not subject to mathematical recalculation directly from the information in the applicable Restatement, the amount will be determined by the Compensation Committee based on a reasonable estimate of the effect of the Restatement on the stock price or total shareholder return upon which the Incentive Compensation was Received (in which case, the Company will maintain documentation of such determination of that reasonable estimate and provide such documentation to the Company's applicable listing exchange).

"<u>Restatement</u>" means an accounting restatement of any of the Company's financial statements filed with the Securities and Exchange Commission under the Exchange Act, or the Securities Act of 1933, as amended, due to the Company's material noncompliance with any financial reporting requirement under U.S. securities laws, regardless of whether the Company or Covered Officer misconduct was the cause for such restatement. "Restatement" includes any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements (commonly referred to as "Big R" restatements), or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period (commonly referred to as "little r" restatements).

## Exhibit 21.1

**Exhibit 21.1**

**SUBSIDIARIES OF Idea Tech Holding Limited**

---

| | | | |
|:---|:---|:---|:---|
| **Subsidiaries** | **Place of Incorporation** | **Incorporation Time** | **Percentage of Ownership** |
| Idea Tech Limited | Hong Kong SAR | September 12, 2024 | 100% |
| Ask Idea (Hong Kong) Limited | Hong Kong SAR | August 14, 2018 | 100% |

---

## Exhibit 23.1

**Exhibit 23.1**

![](ex23-1_001.jpg)

**Consent of Independent Registered Public Accounting Firm**

To the Board of Directors of Idea Tech Holding Limited,

We hereby consent to the inclusion in Form F-1 Registration Statement of Idea Tech Holding Limited (the "Company") of our report dated March 31, 2025, with respect to our audits of the Company's consolidated financial statements as of and for the years ended June 30, 2024 and 2023 which appears in Form F-1 Registration Statement.

We also consent to the reference to our Firm under the caption "Experts" in such Prospectus.

![](ex23-1_002.jpg)

Diamond Bar, California <br> August 8, 2025

## Exhibit 23.4

**Exhibit 23.4**

---

| | |
|:---|:---|
| ![](ex23-4_001.jpg) | ![](ex23-4_002.jpg) |

---

Date: Aug 8, 2025

**Idea Tech Holding Limited**

Room 721, 7/F Cyberport One,

100 Cyberport Road,

Pokfulam, Hong Kong

**<u>Re: Consent of Frost & Sullivan</u>**

Ladies and Gentlemen,

Reference is made to the registration statement on Form F-1 (the "**Registration Statement**") filed by Idea Tech Holding Limited (the "**Company**") with the United States Securities and Exchange Commission (the "**SEC**") under the Securities Act of 1933, as amended, in connection with the Company's proposed initial public offering (the "**Proposed IPO**").

We hereby consent to the use of and references to our name and the inclusion of information, data and statements from our research reports and amendments thereto, including, without limitation, the industry report titled "Independent Market Study on Hong Kong's STEM and Robotics Programming Education Market" (collectively, the "**Reports**"), and any subsequent amendments to the Reports, as well as the citation of our research reports and amendments thereto, (i) in the Registration Statement and any amendments thereto, including, but not limited to, under the "Prospectus Summary," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Industry" and "Business" sections; (ii) in any written correspondence with the SEC, (iii) in any other future filings with the SEC by the Company, including, without limitation, filings on Form 20-F, Form 6-K and other SEC filings (collectively, the "**SEC Filings**"), (iv) on the websites or in the publicity materials of the Company and its subsidiaries and affiliates, (v) in institutional and retail roadshows and other activities in connection with the Proposed IPO, and (vi) in other publicity and marketing materials in connection with the Proposed IPO.

We further hereby consent to the filing of this consent letter as an exhibit to the Registration Statement and any amendments thereto and as an exhibit to any other SEC Filings.

Yours faithfully,

For and on behalf of

**Frost & Sullivan Limited**

---

| | |
|:---|:---|
| /s/ Charles Lau | /s/ Charles Lau |
| Name: | Charles Lau |
| Title: | Executive Director |

---

## Exhibit 99.1

**Exhibit 99.1**

**CHARTER OF THE AUDIT COMMITTEE OF**

**IDEA TECH HOLDING LIMITED**

**<u>Membership</u>**

The Audit Committee (the "**Committee**") of the board of directors (the "**Board**") of IDEA TECH HOLDING LIMITED, Ltd. (the "**Company**") shall consist of three or more directors. Each member of the Committee shall be independent in accordance with the requirements of Rule 10A-3 of the Securities Exchange Act of 1934 and the rules of the Nasdaq Stock Market. No member of the Committee can have participated in the preparation of the Company's or any of its subsidiaries' financial statements at any time during the past three years.

Each member of the Committee must be able to read and understand fundamental financial statements, including the Company's balance sheet, income statement and cash flow statement. At least one member of the Committee must have past employment experience in finance or accounting, requisite professional certification in accounting or other comparable experience or background that leads to financial sophistication. At least one member of the Committee must be an "audit committee financial expert" as defined in Item 407(d)(5)(ii) of Regulation S-K. A person who satisfies this definition of audit committee financial expert will also be presumed to have financial sophistication.

The members of the Committee shall be appointed by the Board based on recommendations from the nominating and corporate governance committee of the Board. The members of the Committee shall serve for such term or terms as the Board may determine or until earlier resignation or death. The Board may remove any member from the Committee at any time with or without cause.

**<u>Purpose</u>**

The purpose of the Committee is to oversee the Company's accounting and financial reporting processes and the audit of the Company's financial statements.

The primary role of the Committee is to oversee the financial reporting and disclosure process. To fulfill this obligation, the Committee relies on: management for the preparation and accuracy of the Company's financial statements; for establishing effective internal controls and procedures to ensure the Company's compliance with accounting standards, financial reporting procedures and applicable laws and regulations; and the Company's independent auditors for an unbiased, diligent audit or review, as applicable, of the Company's financial statements and the effectiveness of the Company's internal controls. The members of the Committee are not employees of the Company and are not responsible for conducting the audit or performing other accounting procedures.

**<u>Duties and Responsibilities</u>**

The Committee shall have the following authority and responsibilities:

To (1) select and retain an independent registered public accounting firm to act as the Company's independent auditors for the purpose of auditing the Company's annual financial statements, books, records, accounts and internal controls over financial reporting, (2) set the compensation of the Company's independent auditors, (3) oversee the work done by the Company's independent auditors and (4) terminate the Company's independent auditors, if necessary.

To select, retain, compensate, oversee and terminate, if necessary, any other registered public accounting firm engaged for the purpose of preparing or issuing an audit report or performing other audit, review or attest services for the Company.

To approve all audit engagement fees and terms; and to pre-approve all audit and permitted non-audit and tax services that may be provided by the Company's independent auditors or other registered public accounting firms, and establish policies and procedures for the Committee's pre-approval of permitted services by the Company's independent auditors or other registered public accounting firms on an on-going basis.

At least annually, to obtain and review a report by the Company's independent auditors that describes (1) the accounting firm's internal quality control procedures, (2) any issues raised by the most recent internal quality control review, peer review or Public Company Accounting Oversight Board review or inspection of the firm or by any other inquiry or investigation by governmental or professional authorities in the past five years regarding one or more audits carried out by the firm and any steps taken to deal with any such issues, and (3) all relationships between the firm and the Company or any of its subsidiaries; and to discuss with the independent auditors this report and any relationships or services that may impact the objectivity and independence of the auditors.

At least annually, to evaluate the qualifications, performance and independence of the Company's independent auditors, including an evaluation of the lead audit partner; and to assure the regular rotation of the lead audit partner at the Company's independent auditors and consider regular rotation of the accounting firm serving as the Company's independent auditors.

To review and discuss with the Company's independent auditors (1) the auditors' responsibilities under generally accepted auditing standards and the responsibilities of management in the audit process, (2) the overall audit strategy, (3) the scope and timing of the annual audit, (4) any significant risks identified during the auditors' risk assessment procedures and (5) when completed, the results, including significant findings, of the annual audit.

To review and discuss with the Company's independent auditors (1) all critical accounting policies and practices to be used in the audit; (2) all alternative treatments of financial information within generally accepted accounting principles ("**GAAP**") that have been discussed with management, the ramifications of the use of such alternative treatments and the treatment preferred by the auditors; and (3) other material written communications between the auditors and management.

To review and discuss with the Company's independent auditors and management (1) any audit problems or difficulties, including difficulties encountered by the Company's independent auditors during their audit work (such as restrictions on the scope of their activities or their access to information), (2) any significant disagreements with management and (3) management's response to these problems, difficulties or disagreements; and to resolve any disagreements between the Company's auditors and management.

To review with management and the Company's independent auditors: any major issues regarding accounting principles and financial statement presentation, including any significant changes in the Company's selection or application of accounting principles; any significant financial reporting issues and judgments made in connection with the preparation of the Company's financial statements, including the effects of alternative GAAP methods; and the effect of regulatory and accounting initiatives and off-balance sheet structures on the Company's financial statements.

To keep the Company's independent auditors informed of the Committee's understanding of the Company's relationships and transactions with related parties that are significant to the company; and to review and discuss with the Company's independent auditors the auditors' evaluation of the Company's identification of, accounting for, and disclosure of its relationships and transactions with related parties, including any significant matters arising from the audit regarding the Company's relationships and transactions with related parties.

To review with management and the Company's independent auditors the adequacy and effectiveness of the Company's financial reporting processes, internal control over financial reporting and disclosure controls and procedures, including any significant deficiencies or material weaknesses in the design or operation of, and any material changes in, the Company's processes, controls and procedure] and any special audit steps adopted in light of any material control deficiencies, and any fraud involving management or other employees with a significant role in such processes, controls and procedures, and review and discuss with management and the Company's independent auditors disclosure relating to the Company's financial reporting processes, internal control over financial reporting and disclosure controls and procedures, the independent auditors' report on the effectiveness of the Company's internal control over financial reporting and the required management certifications to be included in or attached as exhibits to the Company's annual report on Form 20-F, as applicable.

To review and discuss with the Company's independent auditors any other matters required to be discussed by applicable requirements of the PCAOB and the SEC.

To review and discuss with the Company's independent auditors and management the Company's annual audited financial statements (including the related notes), the form of audit opinion to be issued by the auditors on the financial statements and the disclosure under "Operating and Financial Review and Prospects" to be included in the Company's annual report on Form 20-F before the Form 20-F is filed.

To recommend to the Board that the audited financial statements be included in the Company's Form 20-F and whether the Form 20-F should be filed with the SEC; and to produce the audit committee report required to be included in the Company's proxy statement.

To establish and oversee procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters and the confidential, anonymous submission by Company employees of concerns regarding questionable accounting or auditing matters.

To monitor compliance with the Company's Code of Business Conduct and Ethics (the "**Code**"), to investigate any alleged breach or violation of the Code, and to enforce the provisions of the Code.

To review, with the General Counsel and outside legal counsel, legal and regulatory matters, including legal cases against or regulatory investigations of the Company and its subsidiaries, that could have a significant impact on the Company's financial statements.

To review, approve and oversee any transaction between the Company and any related person (as defined in Item 404 of Regulation S-K) and any other potential conflict of interest situations on an ongoing basis, in accordance with Company policies and procedures, and to develop policies and procedures for the Committee's approval of related party transactions.

**<u>Outside Advisors</u>**

The Committee shall have the authority, in its sole discretion, to retain and obtain the advice and assistance of independent outside counsel and such other advisors as it deems necessary to fulfill its duties and responsibilities under this Charter. The Committee shall set the compensation, and oversee the work, of any outside counsel and other advisors.

The Committee shall receive appropriate funding from the Company, as determined by the Committee in its capacity as a committee of the Board, for the payment of compensation to the Company's independent auditors, any other accounting firm engaged to perform services for the Company, any outside counsel and any other advisors to the Committee.

**<u>Structure and Operations</u>**

The Board shall designate a member of the Committee as the chairperson. The Committee shall meet at least two times a year at such times and places as it deems necessary to fulfill its responsibilities. The Committee shall report after each committee meeting to the Board on its discussions and actions, including any significant issues or concerns that arise at its meetings, and shall make recommendations to the Board as appropriate. The Committee is governed by the same rules regarding meetings (including meetings in person or by telephone or other similar communications equipment), action without meetings, notice, waiver of notice, and quorum and voting requirements as are applicable to the Board.

The Committee shall meet separately, and periodically, with management, and representatives of the Company's independent auditors, and shall invite such individuals to its meetings as it deems appropriate, to assist in carrying out its duties and responsibilities. However, the Committee shall meet regularly without such individuals present.

The Committee shall review this Charter at least annually and recommend any proposed changes to the Board for approval.

**<u>Delegation of Authority</u>**

The Committee shall have the authority to delegate any of its responsibilities, along with the authority to take action in relation to such responsibilities, to one or more subcommittees as the Committee may deem appropriate in its sole discretion.

**<u>Performance Evaluation</u>**

The Committee shall conduct an annual evaluation of the performance of its duties under this Charter and shall present the results of the evaluation to the Board. The Committee shall conduct this evaluation in such manner as it deems appropriate.

## Exhibit 99.2

**Exhibit 99.2**

**CHARTER OF THE COMPENSATION COMMITTEE OF** 

**Idea Tech Holding Limited**

**<u>Membership</u>**

The Compensation Committee (the "**Committee**") of the board of directors (the "**Board**") of Idea Tech Holding Limited (the "**Company**") shall consist of three or more directors. Each member of the Committee shall be independent in accordance with the rules of the Nasdaq Stock Market.

Each member of the Committee must qualify as "non-employee directors" for the purposes of Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the "**Exchange Act**").

The members of the Committee shall be appointed by the Board based on recommendations from the nominating and corporate governance committee of the Board. The members of the Committee shall serve for such term or terms as the Board may determine or until earlier resignation or death. The Board may remove any member from the Committee at any time with or without cause.

**<u>Purpose</u>**

The purpose of the Committee is to carry out the responsibilities delegated by the Board relating to the review and determination of executive compensation.

**<u>Duties and Responsibilities</u>**

The Committee shall have the following authority and responsibilities:

To review and approve annually the corporate goals and objectives applicable to the compensation of the chief executive officer ("**CEO**"), evaluate at least annually the CEO's performance in light of those goals and objectives, and recommend to the Board for approval the CEO's compensation level based on this evaluation. The CEO cannot be present during any voting or deliberations by the Committee on his or her compensation.

To review and make recommendations to the Board regarding the compensation of all other executive officers.

To review, and make recommendations to the Board regarding, incentive compensation plans and equity-based plans, and where appropriate or required, recommend for approval by the shareholders of the Company, which includes the ability to adopt, amend and terminate such plans. The Committee shall also have the authority to administer the Company's incentive compensation plans and equity-based plans, including designation of the employees to whom the awards are to be granted, the amount of the award or equity to be granted and the terms and conditions applicable to each award or grant, subject to the provisions of each plan.

To review, and make recommendations to the Board regarding, any employment agreements and any severance arrangements or plans, including any benefits to be provided in connection with a change in control, for the CEO and other executive officers, which includes the ability to adopt, amend and terminate such agreements, arrangements or plans.

To review all director compensation and benefits for service on the Board and Board committees at least once a year and to recommend any changes to the Board as necessary.

To oversee, in conjunction with the Board, engagement with shareholders and proxy advisory firms on executive compensation matters.

**<u>Outside Advisors</u>**

The Committee shall have the authority, in its sole discretion, to select, retain and obtain the advice of a compensation consultant as necessary to assist with the execution of its duties and responsibilities as set forth in this Charter. The Committee shall set the compensation, and oversee the work, of the compensation consultant. The Committee shall have the authority, in its sole discretion, to retain and obtain the advice and assistance of outside legal counsel and such other advisors as it deems necessary to fulfill its duties and responsibilities under this Charter. The Committee shall set the compensation, and oversee the work, of its outside legal counsel and other advisors. The Committee shall receive appropriate funding from the Company, as determined by the Committee in its capacity as a committee of the Board, for the payment of compensation to its compensation consultants, outside legal counsel and any other advisors. However, the Committee shall not be required to implement or act consistently with the advice or recommendations of its compensation consultant, legal counsel or other advisor to the compensation committee, and the authority granted in this Charter shall not affect the ability or obligation of the Committee to exercise its own judgment in fulfillment of its duties under this Charter.

In retaining or seeking advice from compensation consultants, outside counsel and other advisors (other than the Company's in-house counsel), the Committee must take into consideration the factors specified in Nasdaq Listing Rule 5605(d)(1)(D). The Committee may retain, or receive advice from, any compensation advisor they prefer, including ones that are not independent, after considering the specified factors. The Committee is not required to assess the independence of any compensation consultant or other advisor that acts in a role limited to consulting on any broad-based plan that does not discriminate in scope, terms or operation in favor of executive officers or directors and that is generally available to all salaried employees or providing information that is not customized for a particular company or that is customized based on parameters that are not developed by the consultant or advisor, and about which the consultant or advisor does not provide advice.

The Committee shall evaluate whether any compensation consultant retained or to be retained by it has any conflict of interest in accordance with Item 407(e)(3)(iv) of Regulation S-K. Any compensation consultant retained by the Committee to assist with its responsibilities relating to executive compensation or director compensation shall not be retained by the Company for any compensation or other human resource matters.

**<u>Structure and Operations</u>**

The Board shall designate a member of the Committee as the chairperson. The Committee shall meet at least two times a year at such times and places as it deems necessary to fulfill its responsibilities. The Committee shall report regularly to the Board regarding its actions and make recommendations to the Board as appropriate. The Committee is governed by the same rules regarding meetings (including meetings in person or by telephone or other similar communications equipment), action without meetings, notice, waiver of notice, and quorum and voting requirements as are applicable to the Board.

The Committee may invite such members of management to its meetings as it deems appropriate. However, the Committee shall meet regularly without such members present, and in all cases the CEO and any other such officers shall not be present at meetings at which their compensation or performance is discussed or determined.

The Committee shall review this Charter at least annually and recommend any proposed changes to the Board for approval.

**<u>Delegation of Authority</u>**

The Committee shall have the authority to delegate any of its responsibilities, along with the authority to take action in relation to such responsibilities, to one or more subcommittees as the Committee may deem appropriate in its sole discretion.

**<u>Performance Evaluation</u>**

The Committee shall conduct an annual evaluation of the performance of its duties under this charter and shall present the results of the evaluation to the Board. The Committee shall conduct this evaluation in such manner as it deems appropriate.

## Exhibit 99.3

**Exhibit 99.3**

**CHARTER OF THE NOMINATING COMMITTEE OF** 

**Idea Tech Holding Limited**

**<u>Membership</u>**

The Nominating Committee (the "**Committee**") of the board of directors (the "**Board**") of Idea Tech Holding Limited (the "**Company**") shall consist of three or more directors. Each member of the Committee shall be independent in accordance with the rules of the Nasdaq Stock Market.

The members of the Committee shall serve for such term or terms as the Board may determine or until earlier resignation or death. The Board may remove any member from the Committee at any time with or without cause.

**<u>Purpose</u>**

The purpose of the Committee is to carry out the responsibilities delegated by the Board relating to the Company's director nominations process and procedures, developing and maintaining the Company's corporate governance policies and any related matters required by the federal securities laws.

**<u>Duties and Responsibilities</u>**

The Committee shall have the following authority and responsibilities:

To identify and screen individuals qualified to become members of the Board, consistent with criteria approved by the Board. The Committee shall consider any director candidates recommended by the Company's shareholders pursuant to the procedures set forth in the Company's described in the Company's proxy statement.

To make recommendations to the Board regarding the selection and approval of the nominees for director to be submitted to a shareholder vote at the annual meeting of shareholders.

To oversee the Company's corporate governance practices and procedures, including identifying best practices and reviewing and recommending to the Board for approval any changes to the documents, policies and procedures in the Company's corporate governance framework, including its certificate of incorporation and by-laws.

To review the Board's committee structure and composition and to make recommendations to the Board regarding the appointment of directors to serve as members of each committee and committee chairmen annually.

If a vacancy on the Board and/or any Board committee occurs, to identify and make recommendations to the Board regarding the selection and approval of candidates to fill such vacancy either by election by shareholders or appointment by the Board.

To develop and recommend to the Board for approval standards for determining whether a director has a relationship with the Company that would impair its independence.

To review and discuss with management disclosure of the Company's corporate governance practices, including information regarding the operations of the Committee and other Board committees, director independence and the director nominations process, and to recommend that this disclosure be, included in the Company's proxy statement or annual report on Form 20-F, as applicable.

To develop and recommend to the Board for approval a Company Code of Business Conduct and Ethics (the "**Code**"), to monitor compliance with the Company's Code, to investigate any alleged breach or violation of the Code, to enforce the provisions of the Code and to review the Code periodically and recommend any changes to the Board.

**<u>Outside Advisors</u>**

The Committee shall have the authority, in its sole discretion, to select, retain and obtain the advice of a director search firm as necessary to assist with the execution of its duties and responsibilities as set forth in this Charter. The Committee shall set the compensation and oversee the work of the director search firm. The Committee shall have the authority, in its sole discretion, to retain and obtain the advice and assistance of outside counsel, an executive search firm and such other advisors as it deems necessary to fulfill its duties and responsibilities under this Charter. The Committee shall set the compensation and oversee the work of its outside counsel, the executive search firm and any other advisors. The Committee shall receive appropriate funding from the Company, as determined by the Committee in its capacity as a committee of the Board, for the payment of compensation to its search consultants, outside counsel and any other advisors.

**<u>Structure and Operations</u>**

The Board shall designate a member of the Committee as the chairperson. The Committee shall meet at least two times a year at such times and places as it deems necessary to fulfill its responsibilities. The Committee shall report regularly to the Board regarding its actions and make recommendations to the Board as appropriate. The Committee is governed by the same rules regarding meetings (including meetings in person or by telephone or other similar communications equipment), action without meetings, notice, waiver of notice, and quorum and voting requirements as are applicable to the Board.

The Committee shall review this Charter at least annually and recommend any proposed changes to the Board for approval.

**<u>Delegation of Authority</u>**

The Committee shall have the authority to delegate any of its responsibilities, along with the authority to take action in relation to such responsibilities, to one or more subcommittees as the Committee may deem appropriate in its sole discretion.

**<u>Performance Evaluation</u>**

The Committee shall conduct an annual evaluation of the performance of its duties under this charter and shall present the results of the evaluation to the Board. The Committee shall conduct this evaluation in such manner as it deems appropriate.

## Exhibit 99.4

**Exhibit 99.4**

**CONSENT OF Jinyu Yang** 

Idea Tech Holding Limited (the "Company") intends to file a Registration Statement on Form F-1 (together with any amendments or supplements thereto, the "Registration Statement") registering securities for issuance in its initial public offering. As required by Rule 438 under the Securities Act of 1933, as amended, the undersigned hereby consents to being named in the Registration Statement as an Independent Director appointee.

Dated: August 8, 2025

---

| |
|:---|
| */s/ Jinyu Yang* |
| Name: Jinyu Yang |

---

## Exhibit 99.5

**Exhibit 99.5**

**CONSENT OF Yiyun Wang**

Idea Tech Holding Limited (the "Company") intends to file a Registration Statement on Form F-1 (together with any amendments or supplements thereto, the "Registration Statement") registering securities for issuance in its initial public offering. As required by Rule 438 under the Securities Act of 1933, as amended, the undersigned hereby consents to being named in the Registration Statement as an Independent Director appointee.

Dated: August 8, 2025

---

| |
|:---|
| */s/ Yiyun Wang* |
| Name: Yiyun Wang |

---

## Exhibit 99.6

**Exhibit 99.6**

**CONSENT OF Chuanping Pan**

Idea Tech Holding Limited (the "Company") intends to file a Registration Statement on Form F-1 (together with any amendments or supplements thereto, the "Registration Statement") registering securities for issuance in its initial public offering. As required by Rule 438 under the Securities Act of 1933, as amended, the undersigned hereby consents to being named in the Registration Statement as an Independent Director appointee.

Dated: August 8, 2025

---

| |
|:---|
| */s/ Chuanping Pan* |
| Name: Chuanping Pan |

---

## Exhibit 99.7

**Exhibit 99.7**

**CONSENT OF CHung Shun Lee**

Idea Tech Holding Limited (the "Company") intends to file a Registration Statement on Form F-1 (together with any amendments or supplements thereto, the "Registration Statement") registering securities for issuance in its initial public offering. As required by Rule 438 under the Securities Act of 1933, as amended, the undersigned hereby consents to being named in the Registration Statement as an Independent Director appointee.

Dated: August 8, 2025

---

| |
|:---|
| */s/ Chung Shun Lee* |
| Name: Chung Shun Lee |

---

## Exhibit 99.8

**Exhibit 99.8**

**Idea Tech Holding Ltd** 

Room 721, 7/F Cyberport One

100 Cyberport Road

Pokfulam, Hong Kong

August 8, 2025

**<u>VIA EDGAR</u>**

Division of Corporation Finance

Office of Trade & Services

U.S. Securities and Exchange Commission

100 F Street, NE

Washington, D.C., 20549

---

| | |
|:---|:---|
| **RE:** | **Idea Tech Holding Ltd** |
|  | **Amendment No. 2 to Draft Registration Statement on Form F-1 (CIK No. 0002045440)** |
|  | **Request for Waiver and Representation under Item 8.A.4 of Form 20-F** |

---

Ladies and Gentlemen:

The undersigned, Idea Tech Holding Ltd, a foreign private issuer organized under the laws of the Cayman Islands (the "Company"), is submitting this letter via EDGAR to the U.S. Securities and Exchange Commission (the "Commission") in connection with the Company's registration statement on Form F-1, as amended, initially filed on August 8, 2025 (the "Registration Statement") relating to a proposed initial public offering and listing in the United States of the Company's Ordinary Shares.

The Registration Statement contains audited consolidated financial statements for the two years ended June 30, 2024 and 2023, in each case prepared in accordance with accounting principles generally accepted in the United States of America, and unaudited interim financial statements for the six months ended December 31, 2024.

The Company respectfully requests that the Commission waive the requirement of Item 8.A.4 of Form 20-F, which states that in the case of a company's initial public offering, the registration statement on Form F-1 must contain audited financial statements of a date not older than 12 months from the date of the offering (the "12-Month Requirement"). *See also* Division of Corporation Finance, *Financial Reporting Manual*, Section 6220.3.

The Company is submitting this waiver request pursuant to Instruction 2 to Item 8.A.4 of Form 20-F, which provides that the Commission will waive the 12-Month Requirement "in cases where the company is able to represent adequately to us that it is not required to comply with this requirement in any other jurisdiction outside the United States and that complying with this requirement is impracticable or involves undue hardship." *See also* the 2004 release entitled *International Reporting and Disclosure Issues in the Division of Corporation Finance* (available on the Commission's website at http://www.sec.gov/divisions/corpfin/internatl/cfirdissues1104.htm) by the staff of the Division of Corporation Finance of the Commission at Section III.B.c, in which the staff notes that:

"the instruction indicates that the staff will waive the 12-month requirement where it is not applicable in the registrant's other filing jurisdictions and is impracticable or involves undue hardship. As a result, we expect that the vast majority of IPOs will be subject only to the 15-month rule. The only times that we anticipate audited financial statements will be filed under the 12-month rule are when the registrant must comply with the rule in another jurisdiction, or when those audited financial statements are otherwise readily available."

In connection with this waiver request, the Company represents to the Commission that:

&nbsp;&nbsp;&nbsp;&nbsp;1. The Company is not currently
a public reporting company in any jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;2. The Company is not required
by any jurisdiction outside the United States to prepare consolidated financial statements audited under any generally accepted auditing
standards for any interim period.

&nbsp;&nbsp;&nbsp;&nbsp;3. Full compliance with Item 8.A.4
of Form 20-F at present is impracticable and involves undue hardship for the Company.

&nbsp;&nbsp;&nbsp;&nbsp;4. The Company does not anticipate
that its audited financial statements for the fiscal year ended June 30, 2025 will be available until late September 2025.

&nbsp;&nbsp;&nbsp;&nbsp;5. In no event will the Company
seek effectiveness of the Registration Statement if its audited financial statements are older than 15 months at the time of the Company's
initial public offering.

The Company is filing this letter as an exhibit to the Registration Statement pursuant to Instruction 2 to Item 8.A.4 of Form 20-F.

Please do not hesitate to contact me if you have any questions regarding the foregoing or if we can provide any additional information.

---

| | | |
|:---|:---|:---|
|  | Very truly yours, | Very truly yours, |
|  | **Idea Tech Holding Ltd** | **Idea Tech Holding Ltd** |
| | *<u>/s/ Chun Ki Wan</u>* | *<u>/s/ Chun Ki Wan</u>* |
|  | Name: | Chun Ki Wan |
|  | Title: | Chief Executive Officer |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'? Filing Fee Exhibit

**Ex-Filing Fees**

**CALCULATION OF FILING FEE TABLES**

**F-1**

**Idea Tech Holding Ltd**

**Table 1: Newly Registered and Carry Forward Securities**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Line Item Type** | **Security Type** | **Security Class Title** | **Notes** | **Fee Calculation<br> Rule** | **Amount Registered** | **Proposed Maximum Offering<br> Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* |
| Fees to be Paid | Equity | Ordinary shares, par value US$0.0001 per share (2) | (1) | 457(o) | 2300000 | $5.00 | $11500000.00 | 0.0001531 | $1760.65 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | $11500000.00 |  | 1760.65 |
| Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: |  |  |  |
| Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: |  |  | 0.00 |
| Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: |  |  | $1760.65 |

---

**__________________________________________ Offering Note(s)**

&nbsp;&nbsp;&nbsp;&nbsp;(1) The registration fee for securities is based on an estimate of the Proposed Maximum Aggregate Offering Price of the securities, assuming the sale of the ordinary shares at the highest expected offering price, and such estimate is solely for the purpose of calculating the registration fee pursuant to Rule 457(o). We have granted the underwriter an option for a period of 45 days after the closing of this offering to purchase up to 15% of the total number of the ordinary shares to be offered by us pursuant to this offering (excluding ordinary shares subject to this option), solely for the purpose of covering over-allotments, at the public offering price less the underwriting discounts. In accordance with Rule 416(a), the Registrant is also registering an indeterminate number of additional ordinary shares that shall be issuable pursuant to Rule 416 to prevent dilution resulting from share splits, share dividends or similar transactions.