<SEC-DOCUMENT>0001213900-23-022787.txt : 20241008
<SEC-HEADER>0001213900-23-022787.hdr.sgml : 20241008
<ACCEPTANCE-DATETIME>20230324154739
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-23-022787
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230324

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:		CORRESP

	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
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<SEQUENCE>1
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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-align: right">March 24, 2023</P>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Kate Beukenkamp and Lilyanna Peyser</P>

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

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    <TD STYLE="width: 0.5in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Re:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Galaxy Payroll Group Ltd</B></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><B>Amendment No. 2 to Registration
Statement on Form F-1 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><B>Filed February 22, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><B>File No. 333-269043</B></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">Dear Ms. Beukenkamp and Ms. Peyser,</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 March 21, 2023 (the &ldquo;Comment Letter&rdquo;)
to Galaxy Payroll Group Ltd (the &ldquo;Company&rdquo; or &ldquo;Galaxy&rdquo;) with respect to the Amendment No.2 to Registration Statement
on Form F-1.</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"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Amendment No. 2 to Registration Statement on Form F-1 filed February
22, 2023 </U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Risk Factor Summary, page 6</U></B></P>

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

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>We note your revisions to include a bullet point addressing the effectiveness of the Trial Administrative
Measures, including the statement that &quot;we cannot assure you that we will be able to complete such process on time.&quot; Please
revise this bullet to expand your disclosure to state what you mean by &quot;on time,&quot; for example, by briefly outlining the deadlines
related to the Measures and/or this offering.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><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 revised the disclosure
accordingly under Cover Page, Risk Factor Summary on Pages 6 and 9, and the title of such risk factor on Page 30 of the Amendment No.3
to Registration Statement on Form F-1 (&ldquo;F-1/A No.3&rdquo;).</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></B></P>

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<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>Risk Factors </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Risks Relating to the PRC, Hong Kong, Taiwan and Macau </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Upon the effectiveness of the Trial Administrative measures,
we may be..., page 29</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></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="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>We note the revisions to the cover page regarding the effectiveness of the Trial Administrative Measures
going into effect March 31, 2023 and related filing procedures with the CSRC, as well as the inclusion of risk factor disclosure on the
same topic. Please further revise this risk factor to address the risks to your entities, individuals who work with or control your entities
and your investors, as well as any impact on this offering, should the company be required to complete filing procedures in connection
with the Trial Administrative Measures and it is unable to do so or is unable to do so within the prescribed periods. In this regard,
we note that such risks may include financial penalties, failure to list/remain listed, and risks to investors if you list prior to receiving
CSRC approval. Disclose whether the offering is contingent on receipt of approval from the CSRC. You state that you &quot;may&quot; be
subject to the Trial Administrative Measures; please disclose whether or not you are or are likely to be subject to the Trial Administrative
Measures, the basis for this determination, and whether you consulted with counsel in making this determination.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><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 revised the disclosure
under Prospectus Summary on Page 9, Risk Factor on Page 30 and Regulation on Pages 112 and 113 of the F-1/A No.3. The Company believes
it is not subject to the Trial Administrative Measures because a) its PRC subsidiary accounted for far less than 50% of any of the Company&rsquo;s
operating revenue, total profit, total assets or net assets as documented in its audited consolidated financial statements for the most
recent accounting year, and b) the Company&rsquo;s main parts of business activities are not conducted in mainland China, nor is its main
place of business located in mainland China, and the senior managers in charge of its business operation and management are not mostly
Chinese citizens or domiciled in mainland China. However, the mainland China regulatory authorities may hold different opinions. The Company&rsquo;s
PRC counsel is seeking clarification from the regulatory authorities before giving advice to the Company.</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; text-indent: 0.5in">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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    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 60%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt">By:&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 35%; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Wai Hong Lao </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">Wai Hong Lao</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">cc:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Elizabeth Fei Chen, Esq.</FONT></TD>
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