<SEC-DOCUMENT>0001213900-22-047326.txt : 20241008
<SEC-HEADER>0001213900-22-047326.hdr.sgml : 20241008
<ACCEPTANCE-DATETIME>20220812150507
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-22-047326
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220812

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Galaxy Payroll Group Ltd
		CENTRAL INDEX KEY:			0001905920
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ENGINEERING, ACCOUNTING, RESEARCH, MANAGEMENT [8700]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D8
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		25/F, OVEST, 77 WING LOK STREET
		STREET 2:		SHEUNG WAN
		CITY:			HONG KONG
		STATE:			F4
		ZIP:			00000
		BUSINESS PHONE:		85231052622

	MAIL ADDRESS:	
		STREET 1:		25/F, OVEST, 77 WING LOK STREET
		STREET 2:		SHEUNG WAN
		CITY:			HONG KONG
		STATE:			F4
		ZIP:			00000
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Galaxy Payroll Group Limited</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>25th Floor, Ovest</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>77 Wing Lok Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Sheung Wan, Hong Kong</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 288pt; text-align: right">August 12, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>VIA EDGAR</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of Trade &amp;Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, N.E</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, DC 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Brian Fetterolf</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.25in; text-align: left"><B>Re:</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Galaxy Payroll Group Ltd</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><B>Draft Registration Statement on Form F-1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><B>Submitted April 13, 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><B>CIK No. 0001905920</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr. Fetterolf,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This letter is being furnished
in response to the comments of the staff (the &ldquo;Staff&rdquo;) of the Division of Corporation Finance of the Securities and Exchange
Commission (the &ldquo;Commission&rdquo;) that were contained in the Staff&rsquo;s letter dated May 13, 2022 (the &ldquo;Comment Letter&rdquo;),
to Galaxy Payroll Group Ltd. (the &ldquo;Company&rdquo; or &ldquo;Galaxy&rdquo;) with respect to the draft registration statement (the
&ldquo;DRS&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This letter provides the
Company&rsquo;s responses to the Staff&rsquo;s comments contained in the Comment Letter. The text of the Staff&rsquo;s comments is set
forth in bold below, followed by the responses of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Draft Registration Statement on Form F-1 submitted April 13,
2022</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Cover Page</U></B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>1.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please revise your disclosure to
                                            describe your <U>current</U> operating subsidiaries, as you state here that your operations
                                            &ldquo;<U>were</U> conducted by [y]our indirect wholly-owned subsidiary, Galaxy Payroll Services
                                            Limited in Hong Kong or Galaxy Payroll (HK) and its subsidiaries, or the operating entities&rdquo;
                                            (emphasis added). In connection therewith, revise your disclosure to ensure consistency in
                                            how you describe your operating subsidiaries here and throughout the prospectus (e.g., state
                                            that you primarily operate through Galaxy Payroll (HK) but that you also operate through
                                            other subsidiaries in the Group, if true).</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response:</B> In response to the
Staff&rsquo;s comment, the Company has revised its disclosure throughout the Amendment No. 1 to the DRS (&ldquo;DRS/A&rdquo;) to make
such disclosure consistent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>2.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Acknowledge that Chinese regulatory
                                            authorities could disallow your corporate structure, which would likely result in a material
                                            change in your operations and/or a material change in the value of the securities you are
                                            registering for sale, including that it could cause the value of such 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. Prominently state that
                                            you are not a Chinese operating company, as your current disclosure only states that you
                                            are a &ldquo;holding company with no operations.&rdquo; Finally, provide more specific cross-references
                                            to the risks discussed on the cover page.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the
Staff&rsquo;s comment, we respectfully advise the Staff that the Company has expressly disclosed that variable interest entities are not
used in its corporate structure on page i and 7 of the DRS/A. In addition, the Company has revised the disclosure and added a cross-reference
and a brief analysis regarding the current corporate structure on page i of the DRS/A.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>3.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Provide a description
of how cash is transferred through your organization, as you do in the prospectus summary, and disclose your intentions to distribute
earnings or settle amounts owed. State whether any transfers, dividends, or distributions have been made to date between the holding
company and its subsidiaries, or to investors, and quantify the amounts where applicable. Provide cross-references to the condensed consolidating
schedule and the consolidated financial statements. Additionally, please amend your disclosure here, in the summary risk factors, on
pages 2-3 of the prospectus summary and in the risk factors to state that, to the extent cash and/or assets in the business is in the
PRC/Hong Kong or a PRC/Hong Kong entity, the funds and/or assets may not be available to fund operations or for other use outside of
the PRC/Hong Kong due to interventions in or the imposition of restrictions and limitations on the ability of you or your subsidiaries
by the PRC government to transfer cash and/or assets. On the cover page, provide cross-references to these other discussions in the prospectus
summary, summary risk factors and risk factors sections.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on Cover Page, Risk Factors Summary and Risk Factors of the DRS/A, and
added cross-references to these other discussions accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>4.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>We note your
                                            disclosure on pages 2-3 that discusses some of your cash management policies, such as regulatory
                                            limitations on your ability to transfer cash between you, your subsidiaries or investors.
                                            Please briefly discuss such limitations here and provide a cross-reference to your discussion
                                            of this issue in your summary. In both places, describe any other regulatory cash management
                                            policies, as well as any such policies that are contractual in nature, and identify which
                                            regulations/contracts dictate which policies. Please also highlight the restricted cash that
                                            you note on pages 58 and 59, and quantify the amount of restricted cash held in Hong Kong,
                                            the PRC, Macau and Taiwan.</B> </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on cover page of the DRS/A. We respectfully advise the Staff that the Company
does not have any other regulatory cash management policies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>5.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please identify your &ldquo;largest
                                            shareholder&rdquo; and amend your disclosure to describe that through such shareholder&rsquo;s majority
                                            ownership of your company, it will have the ability to control the outcome of matters submitted
                                            to stockholders for approval, including the election of directors, amendments to your organizational
                                            documents and any merger or other major corporate transaction. Additionally, please conform
                                            your use of &ldquo;largest shareholder&rdquo; with your use of &ldquo;Controlling Shareholders&rdquo;
                                            throughout the prospectus, or advise as to why these are distinct groups. Please further
                                            revise to ensure consistency with your risk factor entitled &ldquo;our officers, directors
                                            and principal shareholders own a significant percentage . . &rdquo; beginning on page 27.
                                            Include a risk factor detailing the risks associated with being a controlled company. In
                                            revising your disclosure, please ensure that the controlling shareholders are discussed on
                                            the cover page and in appropriate places throughout the prospectus.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the
Staff&rsquo;s comment, we respectfully advise the Staff that there are three largest shareholders with each holding 15% of the total
issued and outstanding shares prior to the completion of the IPO. Considering the shares held by the Largest Shareholders do not exceed
50% of our total voting shares before and post the IPO, we do not believe we are and will be a Controlled Company as such term defined
under the Nasdaq Listing Rules. Accordingly, we removed the reference of the Controlled Company from the cover page and do not believe
the corresponding risk factor is applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>6.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Clearly disclose
                                            how you will refer to the holding company and subsidiaries 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. In this regard,
                                            please include your definition of &ldquo;we&rdquo; or &ldquo;us&rdquo; on the cover page, which
                                            we note you discuss on page 9.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on pages 9, 10 and 11 of the DRS/A under Certain Definition Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Prospectus Summary, page 1 </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>7.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please revise the diagram of the
                                            company&rsquo;s corporate structure to provide such diagram in readable format, identifying
                                            the person or entity that owns the equity in each depicted entity. Describe all contracts
                                            and arrangements with your in-country partners, and in revising your disclosure identify
                                            your Major In-Country Partner, as discussed on page 5. </B> <B>Identify
                                            clearly the entity in which investors are purchasing their interest and the entities in which
                                            the company&rsquo;s operations are conducted. Describe any uncertainties with respect to
                                            such partners&rsquo; contractual agreements with you and how your type of corporate structure may
                                            affect investors and the value of their investment, including how and why the contractual
                                            arrangements may be less effective than providing services directly in certain countries
                                            and address whether the company may incur any challenges and related costs to enforce the
                                            terms of the arrangements. </B> <B>Last, please file any material partnership
                                            contracts as an exhibit to this registration statement, including your agreement with Major
                                            In-Country Partner.&nbsp;</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the
Staff&rsquo;s comment, the Company points the Staff to page i of the DRS/A, and notes that the Company has clearly identified the entity
in which investors are purchasing their interest and the entities in which the company&rsquo;s operations are conducted, but the Company
still has added similar disclosure on page 1 of the DRS/A under Prospectus Summary Section. The Company also points the Staff to page
i and 7 of the DRS/A, and notes that the Company has expressly disclosed that variable interest entities are not used and will not be
used in its corporate structure. The Company has added a disclosure identifying its Major In-Country Partner and other in-country partners
on page 4 of the DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>8.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please revise the third sentence
                                            of this section to clarify, if true, that the referenced dividends to be paid by Galaxy Payroll
                                            (HK) are to Galaxy Payroll BVI. Explain why you state in various places that Galaxy Payroll
                                            BVI depends on dividends paid by Galaxy Payroll (HK), when it appears that any of Galaxy
                                            HR (Macau), Galaxy HR (TW) and Galaxy HR (SZ) may pay dividends to Galaxy Payroll BVI. Also
                                            clarify why Galaxy Payroll BVI depends on dividends for its ability to &ldquo;pay dividends
                                            to its shareholders and to service any debt&rdquo; but not, it appears, for its ability to
                                            pay any other obligations. Please revise the penultimate sentence of the first paragraph
                                            of this section to clarify which entity(ies) in &ldquo;the Group&rdquo; declared and paid the
                                            referenced dividends and which entity&rsquo;s (entities&rsquo;) &ldquo;shareholders&rdquo; were paid dividends.
                                            Revise the last sentence of the second paragraph of this section to clarify which entity(ies)
                                            in &ldquo;the Group&rdquo; paid the referenced amount, for what purpose the payment was made,
                                            and to whom the payment was made. You state that Galaxy Payroll (HK) paid a shareholder&rsquo;s
                                            loan to Galaxy HR (Macau); however, your earlier disclosure states that Galaxy Payroll BVI
                                            is the only entity that pays shareholder loans; please revise for consistency and accuracy.
                                            To the extent that Galaxy Payroll (HK) did pay the shareholder&rsquo;s loan, please disclose the
                                            amount paid for the shareholder&rsquo;s loan and the amount paid for payroll funds and service
                                            fees. Provide cross-references to the condensed consolidating schedule and the consolidated
                                            financial statements.&nbsp;</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response:</B> In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on page 2 of the DRS/A under Prospectus Summary Section. In addition, the
Company explains that it has to rely on dividends to pay to its shareholders and to service any debt, because the Company is a holding
company and receive revenues only from dividends of operating entities. Other than that, the Company does not have any other obligations.
although Galaxy Payroll (HK), Galaxy HR (Macau), Galaxy HR (TW) and Galaxy HR (SZ) are all subsidiaries of Galaxy Payroll BVI, our subsidiary
in Hong Kong forms a substantial part of our revenue and due to the business scale in Taiwan and Macau, these other subsidiaries contribute
minimal in dividends distribution. Galaxy HR (SZ), as a subsidiary in PRC, is facing with several limitations regarding transfer assets
outside China and may very likely be unable to pay dividends to Galaxy Payroll BVI on page 24 of the DRS/A under Risk Factors Section.</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>9.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>We note your disclosure that &ldquo;[t]o
                                            the knowledge of the management, as of the date of this prospectus, the Company is not required
                                            to obtain regulatory approval for this offering of our Ordinary Shares to foreign investors
                                            from the PRC authorities, or to pass cybersecurity review of CAC.&rdquo; Please revise to
                                            also state whether you are required to obtain PRC regulatory approvals for the operation
                                            of your business. </B> <B>In addition, reconcile this statement with your
                                            disclosure elsewhere regarding the Labor Dispatch Operation Permit. Explain the bases for
                                            your conclusions regarding whether you are required to obtain permissions or approvals from
                                            Chinese authorities, including why you are not required to pass cybersecurity review of CAC.</B>&nbsp;
                                            <B>In this regard, we note your disclosure on page 91 that you &ldquo;handle a substantial
                                            amount of personal data related to individual employees and [y]our end-users and customers.&rdquo;
                                            If you did not obtain an opinion of counsel regarding whether permissions or approvals (from
                                            the CAC or another PRC regulatory body) are required, state as much and explain why; in this
                                            regard, we note references in the prospectus to your PRC, Taiwan and Macau counsel. Last,
                                            make conforming changes and ensure consistency in your risk factor discussing the CAC on
                                            pages 21-2, in which you state that you &ldquo;do not believe [you] currently are among the
                                            network platform operators&rdquo; within the scope of the Cybersecurity Review Measures and
                                            that you &ldquo;believe that [you] are currently compliant with the regulations or policies
                                            that have been issued by the CAC to date&rdquo; (which suggests that you are, in fact, subject
                                            to the permissions requirements of the CAC).&nbsp;</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Response: In response to the Staff&rsquo;s comment, the Company has
revised its disclosure on page 7 of the DRS/A under Prospectus Summary Section and page 27 of the DRS/A under Risk Factors Section. The
Company also emphasized that (i) as a network platform operator holding personal information of less than one million users, it does not
fall within the scope of the Cybersecurity Review Measures; (ii) we process data for the sole purpose of human resource services, which
does not involve data processing activities that affect or may affect national security, and (iii) the Company has not been informed by
any PRC governmental authority of any requirement that it file for a cybersecurity review. Therefore the Company is not subject to the
permissions requirement of the CAC. A form of the opinion letter of each of the Company&rsquo;s PRC counsel and Hongkong counsel is furnished
as an exhibit to the DRS/A. The Company will file a signed opinion letter when it publicly files the registration statement on Form F-1.</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0"></TD><TD STYLE="padding-right: 0pt; width: 0.5in"><B>10.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>State whether
                                            you are covered by permission requirements of the China Securities Regulatory Commission
                                            (CSRC). State affirmatively whether you 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 subsidiaries do not receive or maintain required
                                            permissions or approvals, inadvertently conclude that such permissions or approvals are not
                                            required, or applicable laws, regulations or interpretations change and you are required
                                            to obtain such permissions or approvals in the future. Last, ensure consistency in
                                            your discussion of such permissions and approvals throughout the prospectus. In this regard,
                                            we note that the Labor Dispatch Operation Permit commenced on January 24, 2022 according
                                            to your disclosure on page 92, but your disclosure on pages 37 and 85 notes that you obtained
                                            such permit in 2019 (e.g., explain if such permit was renewed in 2022). We also note that
                                            you discuss your PRC Legal advisers on page 92 but not 46.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0.5in; text-align: justify">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0.5in; text-align: justify"><B>Response:</B> Other than those
disclosed and pointed out in comment 9, in response to the Staff&rsquo;s comment, the Company has revised its disclosure on pages 7, 25-28,
46 and 97 of the DRS/A. In addition, the Company pointed the Staff to page 97 and notes that the Company has expressly confirmed to have
received all requisite permissions or approvals in PRC, Hong Kong, Taiwan and Macau to do business.</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>11.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Disclose that trading in your securities
                                            may be prohibited under the Holding Foreign Companies Accountable Act if the PCAOB determines
                                            that it cannot inspect or investigate completely your auditor, and that as a result an exchange
                                            may determine to delist your securities. Disclose that your auditor is not subject to the
                                            determinations announced by PCAOB on December 16, 2021, as you disclose on the cover page,
                                            if true. Where you discuss the HFCAA, please also discuss the potential impact of the Accelerating
                                            HFCAA, should it be enacted.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on page 6 of the DRS/A under Prospectus Summary Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B><U>Risk Factors Summary, page 5</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>12.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>In your summary of risk factors,
                                            disclose the risks that your corporate structure and being based in or having the majority
                                            of the company&rsquo;s operations in China and Hong Kong poses to investors. In particular,
                                            describe the significant regulatory, liquidity, and enforcement risks with specific cross-references
                                            to each such risk factor included in the more detailed discussion of these risks in the prospectus.
                                            For example, specifically discuss risks arising from the legal system in China, including
                                            risks and uncertainties regarding the enforcement of laws and that rules and regulations
                                            in China can change quickly with little advance notice; and 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.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on page 7 of the DRS/A under Risk Factors Summary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Our Corporate Information, page 6</U></B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>13.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>We note your disclosure that your principal executive offices
                                        are located in Sheung Wan, Hong Kong. However, we also note your disclosure that the &ldquo;Group&rsquo;s
                                        headquarters are in Hong Kong, China, Taiwan, and Macau.&rdquo; Revise to ensure consistency and
                                        accuracy.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on page 46 and F-7 of the DRS/A, to ensure consistency and accuracy.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Risk Factors, page 13 </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>14.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>We note your
                                            disclosure about the Holding Foreign Companies Accountable Act on page 22. Please expand
                                            the risk factor to disclose that the United States Senate has passed the Accelerating Holding
                                            Foreign Companies Accountable Act, which, if enacted, would decrease the number of &ldquo;non-inspection
                                            years&rdquo; from three years to two years, and thus, would reduce the time before your securities
                                            may be prohibited from trading or delisted. Additionally, explain why you have bracketed
                                            your disclosure that the PCAOB did not identify your auditor as subject to inspection in
                                            its December 16, 2021 report.&nbsp;</B> </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on pages 29 and 30 of the DRS/A under Risk Factors Section.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Risks Relating to Information Contained
in this Prospectus, page 24</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>15.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>We note that your risk factors entitled
                                            &ldquo;Certain statistics and facts . . . &rdquo; and &ldquo;We strongly caution you not to
                                            place any reliance . . .&rdquo; appear to disclaim responsibility with respect to third party
                                            information. Please either delete these risk factors or revise to state that you are responsible
                                            for such information. Please also remove the statement that &ldquo;[y]our Company does not
                                            undertake any obligation to update publicly or release any revisions of any forward-looking
                                            statements, whether as a result of new information, future events or otherwise,&rdquo; as
                                            this also appears to be disclaiming responsibility for your disclosures.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the
Staff&rsquo;s comment, the Company has removed its disclosure on page 33 regarding such risk factors titled &ldquo;Certain statistics
and facts in this prospectus are derived from various sources and may not be reliable&rdquo; and &ldquo;We strongly caution you not to
place any reliance on any information contained in press articles, media coverage and/or research analyst reports regarding, among others,
our Group, our business, our Controlling Shareholders, our industry or the offering&rdquo; in DRS/A. The statement pointed out has also
been removed.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Enforceability of Civil Liabilities, page
32</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>16.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>We note your disclosure that &ldquo;a
                                            majority of our directors and officers are nationals and/or residents of countries other
                                            than the United States.&rdquo; Please revise to disclose whether any director/officer is located
                                            in the PRC, Hong Kong or Macau, and identify the relevant individuals. </B> <B>Additionally,
                                            revise your risk factor on page 28 or include a new risk factor addressing the challenges
                                            of bringing actions and enforcing judgments/liabilities against such directors and officers.
                                            </B>&nbsp;<B>Last, in this section, please also explain whether you have been advised by
                                            your PRC local counsel, as you discuss advice given by your counsel to Hong Kong law, and
                                            further revise your prospectus in appropriate places (e.g., &ldquo;Certain Definitions&rdquo;)
                                            to identify your counsel to Hong Kong law.</B> </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s comment, the Company has added a paragraph disclosing the risk factor the challenges of bringing actions and enforcing judgments/liabilities
against the Company, such directors and officers on page 37 of the DRS/A under Risk Factors Section and has revised its disclosure on
pages 41 and 42 of the DRS/A under Enforceability of Civil Liabilities Section. In addition, the Company has also revised its disclosure
to identify the relevant individuals and its residency on pages 41 and 42 of the DRS/A</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Use of Proceeds, page 33 </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>17.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>We note the percentage of the net
                                            proceeds for expansion of new offices and servicing scope differs between the tabular disclosure
                                            and the narrative on page 34. Please revise to reconcile.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on pages 42 and 43 of the DRS/A under Use of Proceeds Section.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Dividend Policy, page 34</U></B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>18.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>We note your disclosure that &ldquo;[y]our
                                            shareholders may by ordinary resolution declare a dividend,&rdquo; but your disclosure on
                                            page 115 only discusses such declarations by your board. Please revise your disclosure to
                                            ensure consistency as appropriate. Please also explain why you will need a &ldquo;depositary&rdquo;
                                            pursuant to a &ldquo;deposit agreement&rdquo; to pay dividends or alternatively remove such
                                            disclosure.&nbsp;</B>&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response:</B> In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on pages 43 and 129 of the DRS/A under Description of Share Capital Section.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Capitalization, page 35 </U></B>&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>19.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please revise the tabular disclosure
                                            to include your indebtedness. Refer to Item 4(a) of Form F-1 and Item 3.B of Form 20-F.&nbsp;</B>&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on pages 44 of the DRS/A under Description of Share Capital Section.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.15in 0pt 0; text-align: justify"><B><U>Management&rsquo;s Discussion and
Analysis of Financial Condition and Results of Operations, page 44</U></B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>20.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please provide the breakdown of
                                            total revenues by geographic market, including PRC, Hong Kong, Macau, Taiwan and Japan, for
                                            the applicable time periods. Refer to Item 4.B.2 of Form 20-F. Provide the disclosure required
                                            by Item 6.D for the past three fiscal years. </B> <B>On page 83 please
                                            state, as you do on page 72, that your revenue is &ldquo;mainly derived from channel customers.&rdquo;&nbsp;</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on page 96 of the DRS/A. The Company has also added a disclosure on page
62 of the DRS/A regarding the employees.</P>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>21.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please explain why your payroll transactions decreased from
105,000 to 83,300 from June 30, 2020 to June 30, 2021, and how this is consistent with your disclosure elsewhere that there has been
an &ldquo;increase in the number of payroll transactions.&rdquo; Please also provide additional context as to why this is a material metric
to your business.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the
Staff&rsquo;s comment, the Company point to the Staff that there is a decrease in the number of payroll transactions, and the Company
has revised its disclosure to make it consistent throughout the DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><FONT STYLE="font-size: 10pt"><B>22.</B></FONT></TD><TD STYLE="padding-right: 0pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>We
                                            note your reliance on headcount and customer data when describing your change in revenue.
                                            Please define &ldquo;headcounts&rdquo; and quantify the headcount amount and the related change
                                            by geographic region and revenue segment for each year provided, to provide investors with
                                            additional context for understanding the changes in your revenue. Please also explain why
                                            the change in the number of headcounts is significantly different when comparing your employment
                                            services segment to your payroll outsourcing services segment (e.g., the total PRC headcount
                                            decreased by 16,339 in your payroll services segment, but the total PRC headcount decreased
                                            by only 108 in employment services). Last, please provide the number of customers for each
                                            of your payroll and employment segments, as we note that you only provide the total amount
                                            of the Group.</B></FONT>&nbsp;<FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on page 62 of the DRS/A.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Critical Accounting Policies and Estimates
</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Revenue Recognition</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Employment Services, page 49 </U></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>23.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>We note you consider yourself an
                                            agent in your employment services arrangements. Please provide us with your analysis of principal
                                            versus agent considerations and expand your current disclosures here and on page F-11 to
                                            include material, relevant factors considered in and the rationale for your principal versus
                                            agent determination. Refer to ASC 606-10-55-36 through 55-40.&nbsp;</B>&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on page 59, F-11 and F-31 of the DRS/A.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Year ended June 30, 2020 compared to year
ended June 30, 2021 </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Results of Operations </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Revenues, page 52 </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>24.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please revise to better explain
                                            the increase in employment services revenue and quantify factors to which changes are attributed.
                                            For example, you disclosed that the increases in the number of headcounts in PRC, Japan and
                                            Taiwan could not compensate for the loss of your customer in Hong Kong. However, these factors
                                            are not quantified in dollar amounts and do not adequately explain how they contributed to
                                            the overall employment services revenue increase. And, enhance your discussions of results
                                            of operations to quantify the impact of changes in revenues and expenses due to fluctuations
                                            in currency exchange rates, to the extent material.&nbsp;</B> </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on page 72 of the DRS/A.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Selling, general and administrative expenses,<BR>
Legal and professional fees, page 55 </U></B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>25.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>You disclosed
                                            that the decrease in legal and professional fees in the year ended June 30, 2021 was driven
                                            by the additional fees incurred in 2020. Please revise to disclose the underlying reason(s)
                                            for the additional fees in 2020&nbsp;</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on page 74 of the DRS/A.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Contractual Obligations, page 59</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>26.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please tell us your consideration
                                            of including your indebtedness in the tables.&nbsp;</B> </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on page 77 of the DRS/A.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Industry, page 60</U></B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>27.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>We note your disclosure that &ldquo;[n]one
                                            of our Company, the Sole Sponsor, the Sole Bookrunner, the Sole Lead Manager, the Underwriter
                                            or their respective directors, advisers (which, for the purpose of this paragraph, excludes
                                            Frost &amp; Sullivan) and affiliates has independently verified such information and statistics
                                            and none of them gives any representation as to the accuracy of such information and statistics.&rdquo;
                                            Please revise to remove these statements disclaiming responsibility for your disclosures.
                                            Additionally, please file Frost &amp; Sullivan&rsquo;s consent as an exhibit to the registration
                                            statement as required by Section 7 of the Securities Act and Securities Act Rule 436, as
                                            we note that you commissioned such research report. Alternatively, please tell us why a consent
                                            is not required to be filed. Last, please provide the &ldquo;date of the Frost &amp; Sullivan
                                            Report.&rdquo; As it appears that the report was produced in 2020 and estimates the data for
                                            years 2020 and onward, please update your discussion as appropriate (e.g., your disclosure
                                            only discusses COVID-19 here as of July 2020).&nbsp;</B>   </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on page 79 of the DRS/A.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Business, page 71 </U></B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>28.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>We note your
                                            disclosure that &ldquo;a substantial portion of our business in the PRC was conducted through
                                            cooperating with our in-country partners where appropriate.&rdquo; Please revise to disclose
                                            the portion of your business that is not conducted through in-country partners and through
                                            whom such business is conducted.&nbsp;</B> <B>Also revise to reconcile your statements
                                            that you cooperated with in-country partners in the PRC and Taiwan as of the date of this
                                            prospectus, and that you ceased to cooperate with in-country partners in Taiwan in February
                                            2020.&nbsp;</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on page 84 of the DRS/A. The Company has also revised the financial statements
on DRS/A pages 62 to include detailed breakdown in geography, including PRC verses other locations.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>In-Country Partners, page 84</U></B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>29.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please identify the major in-country
                                            partner and file the human resources outsourcing service agreement as an exhibit to this
                                            registration statement. Disclose the term and termination provisions of such agreement. To
                                            the extent that you are substantially dependent on your other in-country partners, please
                                            also identify them and file the relevant agreements as exhibits. </B>     <B>Last,
                                            please clarify that the 700 customers of your Major In-country Partner include customers
                                            other than yours, as we note your disclosure on page 53 that you have 53 total customers.&nbsp;</B>&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s comment, the Company points the Staff to page 97 of the DRS/A, and notes that the Company has clearly disclosed the material
terms of the human resources outsourcing service agreement with the major in-country partner. The Company clarified that we engaged with
our Major In-country Partner on a non-exclusive basis, therefore, the 700 customers of our Major In-country Partner do include customers
from other sources, other than ours. The Company also points out to the Staff that human resources outsourcing service agreement between
the Company and other in-country partners are all within the ordinary course of the business, therefore, there is no need to summarize
the terms of these agreements. The company has also added a disclosure regarding its termination provisions on page 97 of the DRS/A. In
response to the Staff&rsquo;s comment, the Company has revised its disclosure on pages 85 and 97 of the DRS/A.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Reliance on our Major Customers, page 90</U></B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>30.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please identify your five largest
                                            customers and summarize and file the relevant master service agreements as exhibits to the
                                            registration statement. In this regard, we also note your risk factor disclosure noting that
                                            over 80% of your revenue was generated by such customers in fiscal years 2020 and 2021. </B>  <B>Refer
                                            to Item 601(b)(10) of Regulation S-K and Item 10.C of Form 20-F. Additionally, please:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Explain what you mean by your disclosure that you &ldquo;have
maintained long-term and stable business relationships with most of [y]our five largest customers&rdquo; (emphasis added), as such disclosure
indicates that you do not have such type of relationship with at least one of your largest customers</B> <B>. Discuss
the &ldquo;loss of [y]our customer in Hong Kong,&rdquo; as your discussion of such loss on page 53 indicates that such customer was material
to your business.</B></TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Describe the terms of the fee arrangements with each of
your major customers, as we note that this can vary between &ldquo;basic service fees&rdquo; or a &ldquo;fixed fee&rdquo; in the case of
your employment services agreements.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s comment and its bullet point 2, the Company points out to the Staff that the relevant master service agreements between
the Company and each of the five largest customers are all within the ordinary course of the business, therefore, there is no need to
summarize the terms of these agreements. But the Company has listed master service agreements with Safeguard and Celergo, who occupy
more than 30% of the revenues in 2021 and 2020 as exhibits under exhibit index.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s bullet point 1 under comment 30, the Company has revised its disclosure related to &ldquo;its relationship with five largest
customers&rdquo; on page 85 of the DRS/A and also revised its disclosure related to &ldquo;loss of our customer in Hong Kong&rdquo; on
page 85 of the DRS/A.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Laws and Regulations Relating to our Business
in the PRC, page 97</U></B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>31.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please provide
                                            a materially complete description of all laws relating to your business in the PRC, including
                                            the draft rules proposed by the China Securities Regulatory Commission and the Cybersecurity
                                            Review Measures promulgated by the Cyberspace Administration of China.&nbsp;</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-indent: 0in; text-align: justify"><B>Response</B>: In response to the Staff&rsquo;s comment, the Company has revised the
description of laws on pages 110 to 115 of the DRS/A under &ldquo;Laws and Regulations relating to Our Business in the PRC&rdquo; Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Management, page 107</U></B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>32.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>We note your disclosure that each
                                            of Kwok Ho Kenward Law and Ho Fu Billy Wong &ldquo;was appointed as [y]our independent non-executive
                                            Director on [].&rdquo; Please revise to state that they will serve as director upon effectiveness
                                            of this registration statement, if true, as you do on page 107. </B>&nbsp;<B>Additionally,
                                            please file the consent of each of these director nominees as exhibits to this registration
                                            statement. Please refer to Rule 438 of the Securities Act of 1933.</B> </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the Staff&rsquo;s comment, the Company points the Staff
to page 121 of the DRS/A, and notes that the Company has clearly disclosed that director appointments are effective upon the SEC&rsquo;s
declaration of effectiveness of this registration statement. the Company has revised its disclosure on pages 122 and 123 of the DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Index to Consolidated Financial Statements,
page F-1 </U></B>  </P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>33.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Reference is made to your discussion
                                            of transfers of cash to and from your subsidiaries beginning on page 2. Please tell us your
                                            consideration of providing condensed financial information of Galaxy Payroll Group Limited
                                            pursuant to Rule 12-04 of Regulation S-X. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s comment, the Company has revised its
disclosure to disclose the transfers of cash to and from our subsidiaries, as well as condensed consolidating schedules on pages 14 and
15 of the DRS/A. Since the restricted net assets of the consolidated and unconsolidated subsidiaries together does not exceed 25% of consolidated
net assets as of the end of the most recently completed fiscal&nbsp;year, we have determined that the condensed FS of the parent company
is not required to disclose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Consolidated Statements of Change in Shareholders&rsquo;
Equity, page F-5 </U></B>&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><B>34.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please revise to reflect the correct
                                            beginning date for the Consolidated Statement of</B> <B>Changes in Shareholders&rsquo; Equity.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s comment, the Company has revised its
disclosure to reflect the correct beginning date for the Consolidated Statement of Changes in Shareholders&rsquo; Equity on pages F-5
of the DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 9 - Taxes, page F-23 </U></B> </P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TD STYLE="padding-right: 0pt; width: 0.5in"><B>35.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please revise to include a description
                                            of tax years that remain subject to examination by major tax jurisdictions. Refer to ASC
                                            740-10-50-15(e).</B></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s comment, the Company has revised its
disclosure a description of tax years that remain subject to examination by major tax jurisdictions on pages F-20 and F-43 of the DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 12 - Equity, page F-27 </U></B></P>

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<TD STYLE="padding-right: 0pt; width: 0.5in"><B>36.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>Please disclose
                                            the significant terms of the subscription receivable classified as contra-equity in the consolidated
                                            balance sheet. </B>  <B>In addition, disclose the pertinent rights
                                            and privileges of your ordinary shares</B>&nbsp;<B>. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s comment, the Company has revised its
disclosure on pages F-23 and F-46 of the DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0.5in; text-align: justify"><B><U>Exhibit Index, page II-4
</U></B></P>

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<TD STYLE="padding-right: 0pt; width: 0.5in"><B>37.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>We note your
                                            reliance on the opinion of Taiwan Legal Advisers and Macau Legal Advisers with respect to
                                            your conclusion regarding whether you are required to obtain certain licenses with respect
                                            to your business</B><B>. Please file the consents of counsel as an
                                            exhibit to this registration statement. To the extent that you also relied on other legal
                                            advisers, such as your reference to your counsel as to Hong Kong law </B> <B>on
                                            page 33, please also file their consent.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><B>Response:</B> In response to
the Staff&rsquo;s comment, the Company has pointed the Staff that subsidiaries in Taiwan and Macau occupy and will remain at 1% of the
total Revenue (before consolidated adjustments added). Therefore, such consents of counsel as an exhibit to this registration statement
is not required. In addition, the company has added the consent of Hong Kong Counsel into the exhibit index and filed such consent as
an exhibit.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>General</U></B></P>

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<TD STYLE="padding-right: 0pt; width: 0.5in"><B>38.</B></TD><TD STYLE="padding-right: 0pt; text-align: justify"><B>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 you
                                            retained, or intend to retain, copies of those communications. Please contact the staff member
                                            associated with the review of this filing to discuss how to submit the materials, if any,
                                            to us for our review.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response:</B> We respectfully advise
the Staff that, as of the date hereof, no written communications have been provided by us or anyone authorized by us to potential investors
in reliance on Section 5(d) of the Securities Act. We will supplementally provide the Staff with copies of all written communications
presented to potential investors in reliance on Section 5(d) of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">We thank the Staff for your
review of the foregoing. If you have any questions, please do not hesitate to contact the undersigned at frank.lao@galaxy-hk.com, or
Elizabeth Fei Chen of Pryor Cashman LLP, outside counsel to the Company, at echen@pryorcashman.com (Tel: 212-326-0199).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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  <TR>
    <TD STYLE="padding-right: 0pt; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0pt"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; vertical-align: top; width: 60%">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; width: 5%"><FONT STYLE="font-size: 10pt">By:&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 0pt; vertical-align: top; width: 35%"><FONT STYLE="font-size: 10pt">/s/ Wai Hong Lao </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="padding-right: 0pt; vertical-align: top"><FONT STYLE="font-size: 10pt">Wai Hong Lao</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="padding-right: 0pt; vertical-align: top"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0pt; width: 0.25in"><FONT STYLE="font-size: 10pt">cc:&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0pt; text-align: justify"><FONT STYLE="font-size: 10pt">Elizabeth Fei Chen, Esq.</FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.05in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">12</P>

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