Galaxy Payroll Group Limited's Comment on Supply Chain
The company depends on dividends and other equity distributions from its subsidiaries in Hong Kong, Taiwan, Macau, and the PRC to fulfill its cash and financing requirements. Dividend payments are subject to regulatory restrictions under British Virgin Islands law, the Hong Kong Companies Ordinance, and PRC regulations. The PRC subsidiary, Galaxy Payroll (China), may only distribute dividends from accumulated profits and is required to allocate at least 10% of its after-tax profits to a statutory reserve until the reserve reaches 50% of its registered capital. This statutory reserve cannot be distributed as cash dividends except upon liquidation. Additionally, the PRC government may impose restrictions on the Hong Kong subsidiary, Galaxy Payroll (HK), which could limit its ability to transfer or distribute cash or other assets outside Hong Kong, thereby affecting dividend payments and distributions to the holding company.
Galaxy Payroll Group Limited's Comment on Supply Chain
The company depends on dividends and other equity distributions from its subsidiaries in Hong Kong, Taiwan, Macau, and the PRC to fulfill its cash and financing requirements. Dividend payments are subject to regulatory restrictions under British Virgin Islands law, the Hong Kong Companies Ordinance, and PRC regulations. The PRC subsidiary, Galaxy Payroll (China), may only distribute dividends from accumulated profits and is required to allocate at least 10% of its after-tax profits to a statutory reserve until the reserve reaches 50% of its registered capital. This statutory reserve cannot be distributed as cash dividends except upon liquidation. Additionally, the PRC government may impose restrictions on the Hong Kong subsidiary, Galaxy Payroll (HK), which could limit its ability to transfer or distribute cash or other assets outside Hong Kong, thereby affecting dividend payments and distributions to the holding company.
Sources:
Galaxy Payroll Group Limited's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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