# EDGAR Filing Document

**Accession Number:** 0002074160
**File Stem:** 0000000000-25-008055
**Filing Date:** 2025-7
**Character Count:** 13360
**Document Hash:** 08aff640cce9c66aa2ef48323f729fe8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-25-008055.hdr.sgml**: 20260508

**ACCESSION NUMBER**: 0000000000-25-008055

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250730

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Barentsz Capital Ltd
- **CENTRAL INDEX KEY:** 0002074160
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** D8
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 377-08176

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** ROOM 903, 9/F, SINGGA COMMERCIAL CENTRE,
- **STREET 2:** 144-151 CONNAUGHT ROAD WEST
- **CITY:** HONG KONG
- **NON US STATE TERRITORY:** HONG KONG
- **PROVINCE COUNTRY:** K3
- **ZIP:** 00000
- **BUSINESS PHONE:** 852-59430987

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** UNIT 8, 3/F., QWOMAR TRADING COMPLEX
- **STREET 2:** BLACKBURNE ROAD, PORT PURCELL, ROAD TOWN
- **CITY:** TORTOLA
- **NON US STATE TERRITORY:** BRITISH VIRGIN ISLANDS
- **PROVINCE COUNTRY:** D8
- **ZIP:** VG1110
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001641172-25-017719

## Text-Extract

```

                                                             July 30, 2025

Wei Xiao
Chief Executive Officer
Barentsz Capital Ltd
Room 903, 9/F.,
Singga Commercial Centre,
144-151 Connaught Road West,
Sai Ying Pun, Hong Kong

       Re: Barentsz Capital Ltd
           Draft Registration Statement on Form F-1
           Submitted July 3, 2025
           CIK No. 0002074160
Dear Wei Xiao:

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

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

      After reviewing the information you provide in response to this letter
and your
amended draft registration statement or filed registration statement, we may
have additional
comments.

Draft Registration Statement on Form F-1
Cover Page

1.     Please revise your cover page to identify your controlling shareholder,
as well as to
       state their total voting power and how much of their voting power stems
from the
       Class B Ordinary Shares. Please also disclose, if true, that the
controlling shareholder
       will have the ability to determine all matters requiring approval by
shareholders.
       Disclose the disparate voting features of your Class A and Class B
Ordinary Shares.
2.     Please remove language stating or implying that you are not a
China-based issuer. In
       this regard, we note that while you operate solely in Hong Kong, the
risks applicable
 July 30, 2025
Page 2

       to entities operating in China could have ramifications on your business
if it were to
       become subject to PRC laws/authorities. Please revise your disclosure
here and
       throughout the registration statement to clarify that that legal and
operational risks
       associated with operating in China also apply to operations in Hong
Kong.
3.     Please address how recent statements and regulatory actions by China's
government,
       such as those related to data security or anti-monopoly concerns, have
or may impact
       the company's ability to conduct its business, accept foreign
investments, or list on a
       U.S. or other foreign exchange.
Prospectus Summary, page 2

4.     Provide a clear description of how cash is transferred through your
organization.
       Disclose your intentions to distribute earnings. Quantify any cash flows
and transfers
       of other assets by type that have occurred between the registrant and
your subsidiary
       and direction of transfer. Quantify any dividends or distributions that
the subsidiary
       has made to the company and their tax consequences. Similarly quantify
dividends or
       distributions made to U.S. investors, the source, and their tax
consequences. Your
       disclosure should make clear if no transfers, dividends, or
distributions have been
       made to date. Describe any restrictions on foreign exchange and your
ability to
       transfer cash between entities, across borders, and to U.S. investors.
Describe any
       restrictions and limitations on your ability to distribute earnings from
the company,
       including your subsidiary, to the parent company and U.S. investors.
Corporate History and Company Structure, page 4

5.     Please revise your diagrams to identify the person or entity that owns
the equity in
       each of the entities depicted in your diagram, such as the owner of the
other 49% of
       Premier ESG Services Limited, and include the ownership of your Class B
Ordinary
       Shares. Additionally, clearly identify the entity in which investors are
purchasing their
       interest and the entity(ies) in which the company's operations are
conducted.
Summary of Risk Factors
Risks Relating to Doing Business in the Jurisdictions in which We Operate, page
7

6.     Please expand your disclosure to address the risk that the Chinese
government may
       intervene or influence your operations at any time, or may exert more
control over
       offerings conducted overseas and/or foreign investment in China-based
issuers which
       could result in a material change in your operations and/or the value of
the securities
       you are registering for sale. Acknowledge any risks that any actions by
the Chinese
       government to exert more oversight and control over offerings that are
conducted
       overseas and/or foreign investment in China-based issuers could
significantly limit or
       completely hinder your ability to offer or continue to offer securities
to investors and
       cause the value of such securities to significantly decline or be
worthless. Please also
       include a cross-reference to the relevant individual detailed risk
factor for each of the
       risks related to having the majority of the company's operations in
China/Hong Kong.
7.     Disclose each permission or approval that you or your subsidiary are
required to
       obtain from Hong Kong and Chinese authorities to operate your business
and to offer
       the securities being registered to foreign investors, and state
affirmatively whether you
 July 30, 2025
Page 3

       have received all requisite permissions or approvals and whether any
permissions or
       approvals have been denied. Please also describe the consequences to you
and your
       investors if you or your subsidiary (i) do not receive or maintain such
permissions or
       approvals, (ii) inadvertently conclude that such permissions or
approvals are not
       required, or (iii) applicable laws, regulations, or interpretations
change and you are
       required to obtain such permissions or approvals in the future. Please
also indicate, if
       true, as you do on the cover page, that you relied on the opinion of
your PRC counsel,
       Jiangsu Junjin Law Firm, with respect to your conclusions.
Risk Factors, page 11

8.     We note your disclosure on page 48 that your services are non-recurring
in nature and
       that your results of operations could be affected if you do not secure
new sizable
       customer mandates. Please revise to include a risk factor that addresses
this aspect of
       your business.
9.     We note your disclosure on page 77 that you will not complete the
offering unless you
       receive approval to list on the Nasdaq Capital Market. Please expand
your risk factors
       and other related disclosure to disclose this contingency and to address
the potential
       consequences of failing to receive approval to list on Nasdaq.
Risks Relating to Our Business and Industry
We have a substantial customer concentration..., page 16

10.    Please clarify in this risk factor, if true, that one of your top two
customers during the
       fiscal year ended April 30, 2025 was a related party.
If our technological capabilities fail to achieve..., page 18

11.    We note your disclosure regarding your "mobile applications." Please
expand your
       disclosure here and throughout to clarify the role of your mobile
applications in your
       business to provide context to investors regarding the scope of this
risk.
Risks Relating to our Class A Ordinary Shares and this offering
As a foreign private issuer, we are permitted to adopt certain home country
practices..., page
24

12.    We note your statement that you "plan to rely on some home country
practices with
       respect to [your] corporate governance." Please expand this risk factor
to include more
       detail on the specific home country practices on which you intend to
rely. Please also
       reconcile this disclosure with your statement on page 73 indicating that
you "intend to
       comply with all of the rules generally applicable to U.S. domestic
companies listed on
       the Nasdaq."
Management's Discussion and Analysis of Financial Condition and Results of
Operations
Overview, page 46

13.    We note your disclosure here that the Class A Ordinary Shares and Class
B Ordinary
       Shares have "no par value per share." Elsewhere, you state that the
Class A Ordinary
       Shares and Class B Ordinary Shares have par value $0.00001. Please
revise for
       consistency.
 July 30, 2025
Page 4

Business, page 57

14.    We note your disclosure that your "direct and indirect client count has
reached
       approximately 21 clients," and that you have earned your clients
loyalty "evidenced
       by high client repurchase rates." Please clarify what you mean by
"indirect clients"
       and elaborate on your client "repurchase rates" and tell us whether this
is a metric you
       track. In this regard, we note your disclosure on page 48 that your
services are non-
       recurring in nature and that revenue from prior customers is not
expected to recur after
       completion of their projects.
Related Party Transactions, page 75

15.    Please provide the information required by Item 7 of Form 20-F for the
period since
       the beginning of your preceding three financial years up to the date of
the document.
       In this regard, it appears you have only provided disclosure for the
period since the
       beginning of your last financial year.
Description of Securities
Ordinary Shares
Class B Ordinary Shares, page 76

16.    Please disclose whether the Class B Ordinary Shares have any sunset
provisions that
       limit the lifespan of the shares.
Exhibit Index, page II-3

17.    We note your disclosure that you have entered into employment agreements
with your
       executive officers. We also note that you have included a placeholder
for a "Form of
       Employment Agreement between the registrant and its officers" in the
exhibit index.
       Once available, please file the executed agreements with your executive
officers and
       revise to include a summary of the material terms of each agreement, if
applicable.
       Refer to Item 601(b)(10)(iii)(A).
General

18.    We note you define "Shares" and "Ordinary Shares" as referring to both
your Class A
       Ordinary Shares and Class B Ordinary Shares. Please revise your
disclosure
       throughout the registration statement to clearly distinguish between the
Class A
       Ordinary Shares and the Class B Ordinary Shares when discussing the
offered
       securities. For example, we note you state on page 10 that the
underwriters will have a
       forty-five day option to purchase additional "Ordinary Shares" following
the date of
       the prospectus and on page 85 you reference Class B Ordinary Shares
"sold in the
       offering." In these and similar circumstances, please revise to clarify
that the only
       securities currently available for investment through the registration
statement or to
       the underwriters in connection with the registration statement are Class
A Ordinary
       Shares.
19.    Please provide us with supplemental copies of all written
communications, as defined
       in Rule 405 under the Securities Act, that you, or anyone authorized to
do so on your
       behalf, have presented or expect to present to potential investors in
reliance on Section
       5(d) of the Securities Act, whether or not they retain copies of the
communications.
 July 30, 2025
Page 5

       Please contact Abe Friedman at 202-551-8298 or Lyn Shenk at 202-551-3380
if you
have questions regarding comments on the financial statements and related
matters. Please
contact Alyssa Wall at 202-551-8106 or Taylor Beech at 202-551-4515 with any
other
questions.

                                                          Sincerely,

                                                          Division of
Corporation Finance
                                                          Office of Trade &
Services
cc:   Erik Mengwall

```

### Attached PDF Documents

**Attachment 1:** `filename1`

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