# EDGAR Filing Document

**Accession Number:** 0001158420
**File Stem:** 0000000000-23-002956
**Filing Date:** 2023-3
**Character Count:** 15862
**Document Hash:** f097a104b92714d79cff60ffec1672f4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-23-002956.hdr.sgml**: 20230531

**ACCESSION NUMBER**: 0000000000-23-002956

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230324

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Green Giant Inc.
- **CENTRAL INDEX KEY:** 0001158420
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE [6500]
- **IRS NUMBER:** 330961490
- **STATE OF INCORPORATION:** F4
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** UPLOAD

**BUSINESS ADDRESS:**
- **STREET 1:** 6 XINGHAN ROAD, 19TH FLOOR, HANZHONG
- **CITY:** SHAANXI
- **STATE:** F4
- **ZIP:** 723000
- **BUSINESS PHONE:** 8609162622612

**MAIL ADDRESS:**
- **STREET 1:** 6 XINGHAN ROAD, 19TH FLOOR, HANZHONG
- **CITY:** SHAANXI
- **STATE:** F4
- **ZIP:** 723000

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CHINA HGS REAL ESTATE INC.
- **DATE OF NAME CHANGE:** 20091009

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CHINA AGRO SCIENCES CORP.
- **DATE OF NAME CHANGE:** 20060504

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** M GAB DEVELOPMENT CORP
- **DATE OF NAME CHANGE:** 20010830
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001213900-23-018220

## Text-Extract

```

United States securities and exchange commission logo

                             March 24, 2023

       Neng Chen
       Chief Executive Officer
       Green Giant Inc.
       Xinghan Road, 19th Floor, Hanzhong City
       Shaanxi Province, PRC 723000

                                                        Re: Green Giant Inc.
                                                            Registration
Statement on Form S-3
                                                            Filed March 7, 2023
                                                            File No. 333-270324

       Dear Neng Chen:

              We have reviewed your registration statement and have the
following comments. In
       some of our comments, we may ask you to provide us with information so
we may better
       understand your disclosure.

              Please respond to this letter by amending your registration
statement and providing the
       requested information. If you do not believe our comments apply to your
facts and
       circumstances or do not believe an amendment is appropriate, please tell
us why in your
       response.

              After reviewing any amendment to your registration statement and
the information you
       provide in response to these comments, we may have additional comments.

       Form S-3 filed March 7, 2023

       Cover Page

   1.                                                   Please disclose
prominently on the prospectus cover page that you are not a Chinese
                                                        operating company but a
Florida holding company with operations conducted by your
                                                        subsidiaries and
through contractual arrangements with a variable interest entity (VIE)
                                                        based in China and that
this structure involves unique risks to investors. Explain whether
                                                        the VIE structure is
used to replicate foreign investment in Chinese-based companies
                                                        where Chinese law
prohibits direct foreign investment in the operating companies, and
                                                        disclose that investors
may never directly hold equity interests in the Chinese operating
                                                        company. Your
disclosure should acknowledge that Chinese regulatory authorities could
                                                        disallow this
structure, which would likely result in a material change in your operations
                                                        and/or value of your
common stock, including that it could cause the value of such
 Neng Chen
FirstName
Green GiantLastNameNeng Chen
             Inc.
Comapany
March      NameGreen Giant Inc.
       24, 2023
March2 24, 2023 Page 2
Page
FirstName LastName
         securities to significantly decline or become worthless. Provide a
cross-reference to your
         detailed discussion of risks facing the company and the offering as a
result of this
         structure.
2.       Provide prominent disclosure about the legal and operational risks
associated with being
         based in or having the majority of the company   s operations in
China. Your disclosure
         should make clear whether these risks could result in a material
change in your operations
         and/or the value of the securities you are registering for sale or
could significantly limit or
         completely hinder your ability to offer or continue to offer
securities to investors and
         cause the value of such securities to significantly decline or be
worthless. Your disclosure
         should address how recent statements and regulatory actions by China
s government, such
         as those related to the use of variable interest entities and data
security or antimonopoly
         concerns, have or may impact the company   s ability to conduct its
business, accept
         foreign investments, or list on a U.S. or other foreign exchange.
Please disclose the
         location of your auditor   s headquarters and whether and how the
Holding Foreign
         Companies Accountable Act, as amended by the Consolidated
Appropriations Act, 2023,
         and related regulations will affect your company.
3.       Clearly disclose how you will refer to the holding company,
subsidiaries, and VIEs when
         providing the disclosure throughout the document so that it is clear
to investors which
         entity the disclosure is referencing, and which subsidiaries or
entities are conducting the
         business operations. Refrain from using terms such as    we    or
our    when describing
         activities or functions of a VIE. For example, disclose, if true, that
your subsidiaries
         and/or the VIE conduct operations in China, that the VIE is
consolidated for accounting
         purposes but is not an entity in which you own equity, and that the
holding company does
         not conduct operations. Disclose clearly the entity (including the
domicile) in which
         investors are purchasing an interest.
4.       Provide a description of how cash is transferred through your
organization and disclose
         your intentions to distribute earnings or settle amounts owed under
the VIE agreements.
         State whether any transfers, dividends, or distributions have been
made to date between
         the holding company, its subsidiaries, and consolidated VIEs, or to
investors, and quantify
         the amounts where applicable. Provide cross-references to the
condensed consolidating
         schedule and the consolidated financial statements.
Prospectus Summary, page 1

5.       Please move your disclosure about your corporate structure to page 4.
Identify clearly the
         entity in which investors are purchasing their interest and the
entity(ies) in which the
         company   s operations are conducted.
6.       On page 4, please clarify the challenges the company may face
enforcing the
         VIE contractual agreements due to legal uncertainties and
jurisdictional limits.
 Neng Chen
Green Giant Inc.
March 24, 2023
Page 3
Risk Factors, page 8

7.    In light of recent events indicating greater oversight by the Cyberspace
Administration of
      China (CAC) over data security, particularly for companies seeking to
list on a foreign
      exchange, please revise your risk factor disclosures to explain how this
oversight impacts
      your business and your offering and to what extent you believe that you
are compliant
      with the regulations or policies that have been issued by the CAC to
date.
General

8.    We note that all your officers and directors are located outside of the
United States. Please
      include a separate section on enforcement of liabilities addressing the
ability of
      shareholders to enforce their legal rights under United States securities
laws. Please also
      include a risk factor.
9.    Please file the consent of your PRC counsel, Shaanxi Jiameng Law Firm, as
an exhibit to
      the filing.
        We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence of
action by the staff.

       Refer to Rules 460 and 461 regarding requests for acceleration. Please
allow adequate
time for us to review any amendment prior to the requested effective date of
the registration
statement.

      Please contact Pearlyne Paulemon at 202-551-8714 or Brigitte Lippmann at
202-551-
3713 with any questions.

                                                            Sincerely,
FirstName LastNameNeng Chen
                                                            Division of
Corporation Finance
Comapany NameGreen Giant Inc.
                                                            Office of Real
Estate & Construction
March 24, 2023 Page 3
cc:       Joan Wu, Esq.
FirstName LastName

```

### Attached PDF Documents

**Attachment 1:** `filename1`

![img-0.jpeg](img-0.jpeg)

CORPORATION FINANCE

# UNITED STATES  
SECURITIES AND EXCHANGE COMMISSION  
WASHINGTON, D.C. 20549

March 24, 2023

Neng Chen  
Chief Executive Officer  
Green Giant Inc.  
Xinghan Road, 19th Floor, Hanzhong City  
Shaanxi Province, PRC 723000

**Re: Green Giant Inc.  
Registration Statement on Form S-3  
Filed March 7, 2023  
File No. 333-270324**

Dear Neng Chen:

We have reviewed your registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure.

Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response.

After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments.

Form S-3 filed March 7, 2023

# Cover Page

1. Please disclose prominently on the prospectus cover page that you are not a Chinese operating company but a Florida holding company with operations conducted by your subsidiaries and through contractual arrangements with a variable interest entity (VIE) based in China and that this structure involves unique risks to investors. Explain whether the VIE structure is used to replicate foreign investment in Chinese-based companies where Chinese law prohibits direct foreign investment in the operating companies, and disclose that investors may never directly hold equity interests in the Chinese operating company. Your disclosure should acknowledge that Chinese regulatory authorities could disallow this structure, which would likely result in a material change in your operations and/or value of your common stock, including that it could cause the value of such

Neng Chen
Green Giant Inc.
March 24, 2023
Page 2

securities to significantly decline or become worthless. Provide a cross-reference to your detailed discussion of risks facing the company and the offering as a result of this structure.

2. Provide prominent disclosure about the legal and operational risks associated with being based in or having the majority of the company's operations in China. Your disclosure should make clear whether these risks could result in a material change in your operations and/or the value of the securities you are registering for sale or could significantly limit or completely hinder your ability to offer or continue to offer securities to investors and cause the value of such securities to significantly decline or be worthless. Your disclosure should address how recent statements and regulatory actions by China's government, such as those related to the use of variable interest entities and data security or antimonopoly concerns, have or may impact the company's ability to conduct its business, accept foreign investments, or list on a U.S. or other foreign exchange. Please disclose the location of your auditor's headquarters and whether and how the Holding Foreign Companies Accountable Act, as amended by the Consolidated Appropriations Act, 2023, and related regulations will affect your company.

3. Clearly disclose how you will refer to the holding company, subsidiaries, and VIEs when providing the disclosure throughout the document so that it is clear to investors which entity the disclosure is referencing, and which subsidiaries or entities are conducting the business operations. Refrain from using terms such as "we" or "our" when describing activities or functions of a VIE. For example, disclose, if true, that your subsidiaries and/or the VIE conduct operations in China, that the VIE is consolidated for accounting purposes but is not an entity in which you own equity, and that the holding company does not conduct operations. Disclose clearly the entity (including the domicile) in which investors are purchasing an interest.

4. Provide a description of how cash is transferred through your organization and disclose your intentions to distribute earnings or settle amounts owed under the VIE agreements. State whether any transfers, dividends, or distributions have been made to date between the holding company, its subsidiaries, and consolidated VIEs, or to investors, and quantify the amounts where applicable. Provide cross-references to the condensed consolidating schedule and the consolidated financial statements.

Prospectus Summary, page 1

5. Please move your disclosure about your corporate structure to page 4. Identify clearly the entity in which investors are purchasing their interest and the entity(ies) in which the company's operations are conducted.

6. On page 4, please clarify the challenges the company may face enforcing the VIE contractual agreements due to legal uncertainties and jurisdictional limits.

Neng Chen
Green Giant Inc.
March 24, 2023
Page 3

Risk Factors, page 8

7. In light of recent events indicating greater oversight by the Cyberspace Administration of China (CAC) over data security, particularly for companies seeking to list on a foreign exchange, please revise your risk factor disclosures to explain how this oversight impacts your business and your offering and to what extent you believe that you are compliant with the regulations or policies that have been issued by the CAC to date.

General

8. We note that all your officers and directors are located outside of the United States. Please include a separate section on enforcement of liabilities addressing the ability of shareholders to enforce their legal rights under United States securities laws. Please also include a risk factor.
9. Please file the consent of your PRC counsel, Shaanxi Jiameng Law Firm, as an exhibit to the filing.

We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff.

Refer to Rules 460 and 461 regarding requests for acceleration. Please allow adequate time for us to review any amendment prior to the requested effective date of the registration statement.

Please contact Pearlyne Paulemon at 202-551-8714 or Brigitte Lippmann at 202-551-3713 with any questions.

Sincerely,

Division of Corporation Finance
Office of Real Estate & Construction

cc: Joan Wu, Esq.