<SEC-DOCUMENT>0001213900-25-119930.txt : 20251210
<SEC-HEADER>0001213900-25-119930.hdr.sgml : 20251210
<ACCEPTANCE-DATETIME>20251210104401
ACCESSION NUMBER:		0001213900-25-119930
CONFORMED SUBMISSION TYPE:	424B4
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251210
DATE AS OF CHANGE:		20251210

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Top Wealth Group Holding Ltd
		CENTRAL INDEX KEY:			0001978057
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS FOOD PREPARATIONS & KINDRED PRODUCTS [2090]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B4
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-290351
		FILM NUMBER:		251561121

	BUSINESS ADDRESS:	
		STREET 1:		118 CONNAUGHT ROAD WEST, HONG KONG PLAZA
		STREET 2:		UNIT 714 & 715, 7F
		CITY:			HONG KONG
		STATE:			K3
		ZIP:			999077
		BUSINESS PHONE:		85236158567

	MAIL ADDRESS:	
		STREET 1:		118 CONNAUGHT ROAD WEST, HONG KONG PLAZA
		STREET 2:		UNIT 714 & 715, 7F
		CITY:			HONG KONG
		STATE:			K3
		ZIP:			999077
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B4
<SEQUENCE>1
<FILENAME>ea0268808-424b4_topwealth.htm
<DESCRIPTION>PROSPECTUS
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed Pursuant to Rule 424(b)(4)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-290351</B></P>

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



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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>720,000 Class A Ordinary Shares&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>720,000 Series A Class A Warrants to purchase
720,000 Class A Ordinary Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>720,000 Series B Class A Warrants to purchase
720,000 Class A Ordinary Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>1,440,000 Class A Ordinary Shares underlying
the Series A Class A Warrants and Series B Class A Warrants</I></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-top: 0pt; margin-bottom: 0pt; text-align: justify">We are offering on a &ldquo;reasonable best efforts&rdquo; basis 720,000
Class A Ordinary Shares with $0.009 par value per share, together with 720,000 Series A Class A warrants to purchase 720,000 Class A Ordinary
Shares (the &ldquo;Series A Class A Warrants), and 720,000 Series B Class A warrants to purchase 720,000 Class A Ordinary Shares (the
&ldquo;Series B Class A Warrants&rdquo; and collectively with the Series A Class A Warrants, the &ldquo;Class A Warrants&rdquo;). The
combined public offering price for each Class A Ordinary Share and accompanying Class A Warrants is $7.00. Each Class A Ordinary Share
is being sold together with the Class A Warrants, each to purchase one Class A Ordinary Share. The Class A Ordinary Shares and Class A
Warrants are immediately separable and will be issued separately in this offering, but must be purchased together in this offering. The
Class A Warrants have a combined public offering price of $7.00 per Class A Ordinary Share and will be exercisable immediately following
issuance. The Series A Class A Warrants will expire on the five-year anniversary of the original issuance date. The Series B Class A Warrants
will expire on the eighteen-month anniversary of the original issuance date.</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; text-align: justify">We refer to the Class A Ordinary Shares and
Class A Warrants to be issued in this offering collectively as the &ldquo;Securities.&rdquo;</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">We will have a single closing for all Securities purchased in this
offering and the combined public offering price per Class A Ordinary Share and accompanying Class A Warrants will be fixed for the duration
of this offering. We will deliver the Securities to be issued in connection with this offering delivery versus payment.</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">We have a dual-class share structure such that
our Ordinary Shares consist of Class A Ordinary Shares and Class B Ordinary Shares with disparate voting powers. In respect of matters
requiring the votes of shareholders, holders of Class A Ordinary Shares will be entitled to one vote per share, while holders of Class
B ordinary shares will be entitled to thirty (30) votes per share based on our dual-class share structure.</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">Through Winwin Development Group Limited, Mr. Kim Kwan Kings, WONG
owned 57,334 Class A Ordinary Shares representing approximately 9.88% of our issued and outstanding 580,029 Class A Ordinary Shares and
owned 166,667 Class B Ordinary Shares, representing 100% of our issued and outstanding 166,667 Class B Ordinary Shares, and representing
90.63% voting rights as of the date of this prospectus and 80.27% voting rights after this offering, based on 720,000 Class A Ordinary
Shares offered at a combined public offering price of $7.00 per Class A Ordinary Share. As a result of the dual-class share structure
and the concentration of ownership, holders of Class B Ordinary Shares will have considerable influence over matters such as decisions
regarding amendment of organizational documents, mergers and consolidations, election of directors and other significant corporate actions.
Such holders may take actions that are not in the best interest of us or our other shareholders. This concentration of ownership may discourage,
delay or prevent a change in control of our company, which could have the effect of depriving our other shareholders of the opportunity
to receive a premium for their Class A Ordinary Shares as part of a sale of our company and may reduce the price of our Class A Ordinary
Shares. This concentrated control will limit your ability to influence corporate matters and could discourage others from pursuing any
potential merger, takeover or other change of control transactions that holders of Class A ordinary shares may view as beneficial.</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">Our Class A Ordinary Shares are listed on Nasdaq under the symbol &ldquo;TWG.&rdquo;
Our Class B Ordinary Shares are not listed on any national securities exchange. On December 8, 2025, the last reported sales price of
our Class A Ordinary Shares on Nasdaq was $22.01.</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">The public offering price per Class A Ordinary
Share and accompanying Class A Warrants was determined between us and investors, in consultation with the Placement Agent (as defined
below), based on market conditions at the time of pricing, and may be at a discount to the then current market price of our Class A Ordinary
Shares. The public offering price was based upon a number of factors, including our history and our prospects, the industry in which we
operate, our past and present operating results, the previous experience of our executive officers and the general condition of the securities
markets at the time of this offering. In addition, there is no established public trading market for the Class A Warrants, and we do not
expect a market for the Class A Warrants to develop. We do not intend to apply for a listing of the Class A Warrants on any national securities
exchange. Without an active trading market, the liquidity of the Class A Warrants will be limited.</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">We have engaged Univest Securities, LLC (the &ldquo;Placement
Agent&rdquo;), to act as our exclusive placement agent in connection with this offering. The Placement Agent has agreed to use its reasonable
best efforts to arrange for the sale of the Securities offered by this prospectus. The Placement Agent is not purchasing or selling any
of the Securities we are offering and the Placement Agent is not required to arrange the purchase or sale of any specific number of Securities
or dollar amount. We have agreed to pay to the Placement Agent the Placement Agent fees set forth in the table below, which assumes that
we sell all of the Securities offered by this prospectus. In addition, we have agreed to reimburse certain expenses of the Placement Agent.
See &ldquo;Plan of Distribution.&rdquo;</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">Since we will deliver the Securities to be issued
in this offering upon our receipt of investor funds, there is no arrangement for funds to be received in escrow, trust or similar arrangement.</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">There is no minimum number of Securities or amount
of proceeds required as a condition to closing in this offering. Because there is no minimum offering amount required as a condition to
closing this offering, we may sell fewer than all of the Securities offered hereby, which may significantly reduce the amount of proceeds
received by us, and investors in this offering will not receive a refund in the event that we do not sell an amount of Securities sufficient
to pursue our business goals described in this prospectus.</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">We expect this offering to be completed on or
about December 10, 2025, subject to satisfaction of customary closing conditions.</P>

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

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">In addition, because there is no escrow trust
or similar arrangement and no minimum offering amount, investors could be in a position where they have invested in our company, but
we are unable to fulfill all of our contemplated objectives due to a lack of interest in this offering. Further, any proceeds from the
sale of Securities offered by us will be available for our immediate use, despite uncertainty about whether we would be able to use such
funds to effectively implement our business plan. We will bear all costs associated with the offering. See &ldquo;Plan of Distribution&rdquo;
on page 45 of this prospectus for more information regarding these arrangements.</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>Investing in our Securities involves a high
degree of risk, including the risk of losing your entire investment. See &ldquo;<I>Risk Factors</I>&rdquo; beginning on page 15 to read
about factors you should consider before buying our Class A Ordinary Shares.</B></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>Our Company is not a PRC or Hong Kong operating
company, but a holding company incorporated in the Cayman Islands. As a holding company with no material operations, our Company conducts
all our operations in Hong Kong through our Operating Subsidiary, TW HK, which was incorporated in Hong Kong. Investors are cautioned
that you are not buying shares of a Hong Kong-based operating company but instead are buying shares of a Cayman Islands holding company
with operations conducted by our Operating Subsidiary based in Hong Kong. This structure involves unique risks to the investors, and
the PRC regulatory authorities could disallow this structure, which would likely result in a material change in our operations and/or
a material change in the value of our Class A Ordinary Shares, including that such event could cause the value of such securities to
significantly decline or become worthless. Furthermore, shareholders may face difficulties enforcing their legal rights under United&nbsp;States
securities laws against our directors and officers who are located outside of the United&nbsp;States.</B></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"></P>

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<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>We are subject to certain legal and operational
risks associated with having all business operations in Hong Kong, a Special Administrative Region of the PRC, as well as the risks associated
with having clients who are mainland China individuals or companies that have shareholders or directors that are mainland China individuals.
We are also subject to the risks of uncertainty about any future actions the PRC government or authorities in Hong Kong may take in this
regard. Such risks may include changes in the legal, political, and economic policies of the Chinese government, the relations between
China and the United States, and Chinese or United States regulations that may materially and adversely affect our business, financial
condition, results of operations and the market price of the Class A Ordinary Shares. Any such changes could significantly limit or completely
hinder our ability to offer or continue to offer securities to investor and could cause the value of offered securities to significantly
decline or become worthless. PRC laws and regulations governing our current business operations are sometimes vague and uncertain. Recently,
the PRC government initiated a series of regulatory actions and made statements to regulate business operations in China with little
advance notice, including cracking down on illegal activities in the securities market, adopting new measures to extend the scope of
cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. Since these statements and regulatory actions are new,
it is highly uncertain how soon legislative or administrative regulation making bodies will respond and what existing or new laws or
regulations or detailed implementations and interpretations will be modified or promulgated, if any, and the potential impact such modified
or new laws and regulations will have on the daily business operation of our Operating Subsidiary. Should the PRC government choose to
exercise significant oversight and discretion over the conduct of our business, or in the event that we or our Operating Subsidiary were
to become subject to PRC laws and regulations, we could incur material costs to ensure compliance, and we or our Operating Subsidiary
might be subject to fines, experience devaluation of securities or delisting, no longer be permitted to conduct offerings to foreign
investors, and/or no longer be permitted to continue business operations as presently conducted.</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">We are an &ldquo;Emerging Growth Company&rdquo;
and a &ldquo;Foreign Private Issuer&rdquo; under applicable U.S. federal securities laws and are, therefore, eligible for reduced public
company reporting requirements. Please read &ldquo;Emerging Growth Company Status&rdquo; beginning on page 9 and &ldquo;Foreign Private
Issuer Status&rdquo; beginning on page 9 for more information.</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">Our Class A Ordinary Shares may be prohibited
from trading on a national exchange or &ldquo;over-the-counter&rdquo; markets under the Holding Foreign Companies Accountable Act (the
&ldquo;HFCAA&rdquo;) if the Public Company Accounting Oversight Board (&ldquo;PCAOB&rdquo;) determines that it is unable to inspect or
fully investigate our auditor and as a result the exchange where our securities are traded may delist our securities. Furthermore, on
June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act (the &ldquo;AHFCAA&rdquo;), which was
signed into law on December 29, 2022, amending the HFCAA and requiring the SEC to prohibit an issuer&rsquo;s securities from trading
on any U.S. stock exchange if its auditor is not subject to PCAOB inspections for two consecutive years instead of three consecutive
years. Pursuant to the HFCAA, the PCAOB issued a Determination Report on December 16, 2021, which found that the PCAOB was unable to
inspect or investigate completely certain named registered public accounting firms headquartered in mainland China and Hong Kong.</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">Our
                                            current auditor, Audit Alliance LLP and previous auditor, Onestop Assurance PAC, the independent
                                            registered public accounting firms that issued the audit report for the fiscal year ended
                                            December 31, 2024 and 2023, respectively, are currently subject to PCAOB inspections and
                                            the PCAOB is able to inspect our auditors. Audit Alliance LLP and Onestop Assurance PAC,
                                            both headquartered in Singapore, have been inspected by the PCAOB on a regular basis. Each
                                            of our auditors is not headquartered in mainland China or Hong Kong and was not identified
                                            in this prospectus as a firm subject to the PCAOB&rsquo;s determination. Therefore, we believe
                                            that, as of the date of this prospectus, each of our auditors is not subject to the PCAOB
                                            determinations. Notwithstanding the foregoing, in the future, if there is any regulatory
                                            change or step taken by PRC regulators that does not permit Audit Alliance LLP or Onestop
                                            Assurance PAC to provide audit documentations located in China or Hong Kong to the PCAOB
                                            for inspection or investigation, or the PACOB expands the scope of the Determination so that
                                            we are subject to the HFCAA, as the same may be amended, you may be deprived of the benefits
                                            of such inspection which could result in limitation or restriction to our access to the U.S.
                                            capital markets and trading of our securities, including trading on the national exchange.
                                            See &ldquo;Risk Factors &mdash; Risks Related to Our Class A Ordinary Shares &mdash; <I>The
                                            PCAOB may be unable to inspect or fully investigate our auditors as required under the Holding
                                            Foreign Companies Accountable Act, or the HFCAA, as amended. If the PCAOB is unable to conduct
                                            such inspections for two consecutive years, the SEC will prohibit the trading of our shares.
                                            The delisting of our shares, or the threat of their being delisted, may materially and adversely
                                            affect the value of your investment. Additionally, the inability of the PCAOB to conduct
                                            inspections of our auditors would deprive our investors of the benefits of such inspections.</I>&rdquo;
                                            on page 28 of this prospectus. We cannot assure you whether Nasdaq or other regulatory authorities
                                            will apply additional or more stringent criteria to us. Such uncertainty could cause the
                                            market price of our Class A Ordinary Shares to be materially and adversely affected.</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">TW Cayman is permitted under the laws of the
Cayman Islands to provide funding to TW BVI through loans or capital contributions without restrictions on the amount of the funds. TW
BVI is permitted under the respective laws of BVI to provide funding to TW HK through dividend distribution without restrictions on the
amount of the funds. There are no restrictions on dividend transfers from BVI to Hong Kong. As a holding company, TW Cayman may rely
on dividends and other distributions on equity paid by its subsidiaries for its cash and financing requirements. As of the date of this
prospectus, TW Cayman and its subsidiaries do not have any plans to distribute earnings or settle amounts in the foreseeable future.
During the fiscal years ended December 31, 2024 and 2023 and the six months ended June 30, 2025, no dividends or distribution have been
made to date by our subsidiaries.</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>Neither the U.S. Securities and Exchange Commission
nor any state securities commission has approved or disapproved of these securities or passed on the adequacy or accuracy of this prospectus.
Any representation to the contrary is a criminal offense.</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Per <BR> Class A<BR> Ordinary<BR> Share and<BR> Accompanying<BR> Class A<BR> Warrants</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font-weight: bold; text-align: justify">Combined Public Offering Price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">7.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">5,040,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify">Placement agent fees(1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.525</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">378,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">Proceeds to us, before expenses(2)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.475</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,662,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>



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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt">In addition, we have also agreed to pay to the Placement Agent 1% of the gross
    proceeds of this offering as reimbursement of for non-accountable expenses, up to $120,000 for all reasonable travel and out-of-pocket
    expenses including legal counsel fees and costs, and up to $12,900 for its clearing or escrow agent expenses. See &ldquo;Plan of
    Distribution&rdquo; on page 45 of this prospectus for a description of the fees and expenses to be paid to the Placement Agent for
    services performed in connection with the offering.</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&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="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify">Because there is no minimum number of securities
                                            or amount of proceeds required as a condition to closing in this offering, the actual offering
                                            amount, Placement Agent fees, estimated expenses and net proceeds to us, if any, are not
                                            presently determinable and may be substantially less than the total maximum offering amounts
                                            set forth above. The amount of the proceeds to us presented in this table does not give effect
                                            to any exercise of the Class A Warrants offered hereby.</TD>
</TR></TABLE>

<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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><I>Sole Placement Agent</I></P>

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

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="text-align: center; margin: 0"><FONT STYLE="font-size: 16pt"><B>Univest Securities, LLC</B></FONT></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; text-align: center">The date of this prospectus is December 9, 2025.</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; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
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<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; text-align: center"><B>TABLE OF CONTENTS</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 95%">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Page</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_020"><FONT STYLE="font-size: 10pt">ABOUT THIS PROSPECTUS</FONT></A></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">ii</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_021"><FONT STYLE="font-size: 10pt">PROSPECTUS SUMMARY</FONT></A></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_022"><FONT STYLE="font-size: 10pt">THE OFFERING</FONT></A></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_023"><FONT STYLE="font-size: 10pt">RISK FACTORS</FONT></A></TD>
    <TD STYLE="text-align: center">15</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_024"><FONT STYLE="font-size: 10pt">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></A></TD>
    <TD STYLE="text-align: center">38</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_025"><FONT STYLE="font-size: 10pt">USE OF PROCEEDS</FONT></A></TD>
    <TD STYLE="text-align: center">39</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_026"><FONT STYLE="font-size: 10pt">DIVIDEND POLICY</FONT></A></TD>
    <TD STYLE="text-align: center">40</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_027"><FONT STYLE="font-size: 10pt">CAPITALIZATION</FONT></A></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">41</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_036"><FONT STYLE="font-size: 10pt">DESCRIPTION OF SHARE CAPITAL</FONT></A></TD>
    <TD STYLE="text-align: center">42</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#j_001">DESCRIPTION OF SECURITIES WE ARE OFFERING</A></TD>
    <TD STYLE="text-align: center">43</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_038"><FONT STYLE="font-size: 10pt">PLAN OF DISTRIBUTION</FONT></A></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">45</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#s_001">ENFORCEABILITY OF CIVIL LIABILITIES</A></TD>
    <TD STYLE="text-align: center">48</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_040"><FONT STYLE="font-size: 10pt">EXPENSES RELATED TO THIS OFFERING</FONT></A></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">50</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_041"><FONT STYLE="font-size: 10pt">LEGAL MATTERS</FONT></A></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">50</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_042"><FONT STYLE="font-size: 10pt">EXPERTS</FONT></A></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">50</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_043"><FONT STYLE="font-size: 10pt">WHERE YOU CAN FIND ADDITIONAL INFORMATION</FONT></A></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">51</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#j_002">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</A></TD>
    <TD STYLE="text-align: center">52</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; text-align: justify">You should rely only on the information contained
in this prospectus and the documents we incorporate by reference in this prospectus. We have not, and the placement agent has not, authorized
anyone to provide you with different information. We do not take any responsibility for, and cannot provide any assurance as to the reliability
of, any other information that others may give you. We are not making an offer to sell the securities in any jurisdiction where the offer
or sale thereof is not permitted. The information contained in this prospectus or incorporated by reference in this prospectus is accurate
only as of the respective date of such information, regardless of the time of delivery of this prospectus or of any sale or offer to
sell hereunder. You should not assume that the information appearing in this prospectus is accurate as of any date other than the date
on the front cover of this prospectus. Our business, financial condition, results of operations, and prospects may have changed since
that date.</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">To the extent this prospectus contains summaries
of the documents referred to herein, you are directed to the actual documents for complete information. All of the summaries are qualified
in their entirety by the actual documents. Copies of some of the documents referred to herein have been filed, will be filed, or will
be incorporated by reference as exhibits to the registration statement of which this prospectus forms a part, and you may obtain copies
of such documents as described below in the section titled &ldquo;Where You Can Find Additional Information.&rdquo;</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"></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; text-align: center"><B><A NAME="a_020"></A>ABOUT THIS PROSPECTUS</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">This prospectus is part of a registration statement
we filed with the SEC. We have not authorized anyone to provide you with any information or to make any representations other than as
contained in this prospectus or any related free writing prospectus. We do not take responsibility for, and provide no assurance about
the reliability of, any information that others may give you. This prospectus is an offer to sell only the securities offered hereby,
but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus or any applicable
free writing prospectus is accurate only as of the date of such prospectus, regardless of the time of delivery of this prospectus or
any sale of the securities. Our business, financial condition, results of operations and prospects may have changed since that date.</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">We have not, and the Placement Agent has not,
authorized anyone to provide any information or to make any representations other than those contained in this prospectus or in any free
writing prospectuses prepared by or on behalf of us or to which we have referred you. We take no responsibility for, and can provide
no assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the securities
offered hereby, and only under circumstances and in jurisdictions where it is lawful to do so.</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">This prospectus includes statistical and other
industry and market data that we obtained from industry publications and research, surveys and studies conducted by third parties. Industry
publications and third-party research, surveys and studies generally indicate that their information has been obtained from sources believed
to be reliable, although they do not guarantee the accuracy or completeness of such information.</P>

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

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">For investors outside the United States: We have
not, and the Placement Agent has not, done anything that would permit this offering or possession or distribution of this prospectus
in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside the United States who
come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of the securities
and the distribution of this prospectus outside the United States.</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">We have not done anything that would permit this
offering or possession or distribution of this prospectus in any jurisdiction, other than the United States, where action for that purpose
is required. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe
any restrictions relating to, the offering of the Class A Ordinary Shares and the distribution of this prospectus outside the United
States.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Unless the context clearly indicates otherwise,
references in this prospectus to &ldquo;we,&rdquo; &ldquo;our,&rdquo; &ldquo;ours,&rdquo; &ldquo;us,&rdquo; &ldquo;the Company&rdquo;
and &ldquo;Top Wealth&rdquo; refer to Top Wealth Group Holding Ltd. and its subsidiaries.</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; text-align: center"></P>

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

<DIV STYLE="padding: 5pt; border: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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; text-align: center"><B><A NAME="a_021"></A>PROSPECTUS SUMMARY</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>The following summary is qualified in its
entirety by, and should be read in conjunction with, the more detailed information and financial statements included elsewhere in this
prospectus. In addition to this summary, we urge you to read the entire prospectus carefully, especially the risks of investing in our
Class A Ordinary Shares, discussed under &ldquo;Risk Factors,&rdquo; before deciding whether to buy our Class A Ordinary Shares.</I></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>Prospectus Conventions</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">Except where the context otherwise requires and
for purposes of this prospectus only the term:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;China&rdquo;
    or &ldquo;PRC&rdquo; refers to the People&rsquo;s Republic of China, including Hong Kong and Macau. For reference to specific laws
    and regulations adopted by the PRC, the definition of &ldquo;China&rdquo; or the &ldquo;PRC&rdquo; refers to the People&rsquo;s Republic
    of China, excluding Hong Kong and Macau;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;Class
                                            A Ordinary Shares&rdquo; refers to our Company&rsquo;s Class A ordinary shares with par value
                                            of $0.009 each;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;Class
                                            B Ordinary Shares&rdquo; refers to our Company&rsquo;s Class B ordinary shares with par value
                                            of $0.009 each;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Controlling
    Shareholder&rdquo; or &ldquo;Winwin Development (BVI)&rdquo; refers to Winwin Development Group Limited, a company incorporated under
    the laws of British Virgin Islands;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;HK$&rdquo;
    or &ldquo;Hong Kong dollars&rdquo; refers to the legal currency of Hong Kong;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Hong
    Kong&rdquo; refers to Hong Kong Special Administrative Region of the People&rsquo;s Republic of China;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Macau&rdquo;
    refers to Macau Special Administrative Region of the People&rsquo;s Republic of China;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;mainland
    China&rdquo; refers to the mainland of the People&rsquo;s Republic of China, excluding Hong Kong and Macau;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Ordinary
    Shares&rdquo; refers to the Class A Ordinary Shares and the Class B Ordinary Shares;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;our
    Group&rdquo;, &ldquo;the Group&rdquo;, &ldquo;we,&rdquo; &ldquo;us,&rdquo; or &ldquo;our&rdquo; refers to Top Wealth Group Holding
    Limited and its subsidiaries;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;SEC&rdquo;
    refers to the United States Securities and Exchange Commission;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;TW
    BVI&rdquo; refers to Top Wealth (BVI) Holding Limited;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;TW
    Cayman,&rdquo; &ldquo;Top Wealth&rdquo;, &ldquo;our Company&rdquo; or &ldquo;the Company&rdquo; refers to Top Wealth Group Holding
    Limited, a Cayman Islands exempted company;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;TW
    HK&rdquo; or &ldquo;Operating Subsidiary&rdquo; refers to Top Wealth Group (International) Limited; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;$&rdquo;
    or &ldquo;U.S. dollars&rdquo; refers to the legal currency of the United States.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Company is a holding company with operations
conducted in Hong Kong through our Operating Subsidiary, using Hong Kong dollars. The reporting currency is U.S. dollars. Unless otherwise
indicated, all financial information contained in this prospectus is prepared and presented in accordance with generally accepted accounting
principles in the United States of America (&ldquo;U.S. GAAP&rdquo; or &ldquo;GAAP&rdquo;).</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">The following table sets forth information concerning
exchange rates between HKD and the U.S. dollar for the periods indicated. This prospectus contains translations of Hong Kong dollars
into U.S. dollars solely for the convenience of the reader. All reference to &ldquo;US dollars&rdquo;, &ldquo;USD&rdquo;, &ldquo;$&rdquo;
or &ldquo;$&rdquo; are to United&nbsp;States dollars.</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">The conversion of Hong Kong dollars into U.S.
dollars are based on the exchange rates set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System.
Unless otherwise noted, all translations from Hong Kong dollars to U.S. dollars and from U.S. dollars to Hong Kong dollars in this prospectus
were made at the following rates:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">For the year ended <BR> December
    31,</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font-weight: bold; text-align: left">USD to HK$ Average Rate</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">7.8</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">7.8</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">USD to HK$ Year End</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>

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

</DIV>

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

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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid"><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; text-align: justify"><B>Overview</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">Our Company is a Cayman Islands exempted company
with limited liability incorporated on February 1, 2023 under law of the Cayman Islands. It is a holding company and is not actively
engaged in any business. We conduct our business operations through our Operating Subsidiary, TW HK. Headquartered in Hong Kong, we are
a fast-growing supplier of caviar products. We are currently specialized in supplying high-quality sturgeons caviar. Our caviar is endorsed
with the Convention on International Trade in Endangered Species of Wild Fauna and Flora (&ldquo;CITES&rdquo;) permits, which certifies
that our caviar is legally traded. We believe that we are one of the major suppliers of caviar in Hong Kong. We have secured a long-term
and exclusive supply of caviar raw products from a PRC sturgeon farm.</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">Since we established our caviar business in August
2021, we had supplied caviar to our customers under their brand labels (i.e. private labeling) or without brand labels. Subsequently
in November 2021, we established our own caviar brand, &ldquo;<I>Imperial Cristal Caviar</I>&rdquo;, and started selling caviar under
our own brand as well. With its exquisite package design, we consider that that our branded caviar is ideal to be presented as both culinary
delights and festive gifts. Imperial Cristal Caviar has continuously achieved tremendous sales growth since its launch in the market.</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">In March 2023, as the addition to the gastronomical
experience of our caviar, we commenced our wine trading business line, to complement our caviar business. For the fiscal years ended
December 31, 2024, 2023 and 2022, our wine trading business line contributed revenue of Nil, $4,460,092 and Nil, respectively. The fine
wine we distribute include white wine, red wine, and Champagne, from various countries including France, Greek, and Spain, etc. Our wine
trading business only involves the distribution of fine wine within Hong Kong on business-to-business (B2B) sales, primarily to our F&amp;B
related distributor customers, in particular, the F&amp;B related distributor customers who we supply our caviar product. We do not import
or manufacture the wine we distribute, instead, we source the wines from our wine suppliers in Hong Kong on an as-demand per order basis.
Therefore, we are not subject to the relevant licensing requirements that apply to sale of alcoholic beverages in Hong Kong. For fiscal
year ended December 31, 2024, we have ceased the wine distribution business line. During the six months ended June 30, 2025, we have
rebuilt our wine distribution business.</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">We take pride in our well-tested, reliable caviar
supply chain management module, which helps ensure the palatability and freshness of our products when they reach our customers. We believe
that are among one of the few Hong Kong caviar suppliers being able to secure a long-term and exclusive supply of caviar raw products
from a PRC sturgeon farm. In April 2022, we entered into an exclusive supply agreement with the agent and distributor of a well-established
sturgeon farm in Fujian, the PRC, which appointed us as its exclusive distributor in Hong Kong and Macau for conducting overseas distribution
and granted us the rights to procure caviar directly from it for a term of 10 years. This sturgeon farm is one of the limited number
PRC sturgeon farms which are officially permitted to export locally bred roe. We have engaged a Hong Kong-based supply chain management
company to handle the logistics, warehousing and packaging workflows in our supply chain, so we can strategically focus on brand-building
and product quality assurance.</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">We are dedicated to enhancing our brand awareness.
As part of our sales and marketing efforts, we have proactively participated in food expo and set up pop-up stores across the world.
We have also collaborated with famous food bloggers and used different online platforms and media coverage to promote and strengthen
the publicity of our products. We regularly invite chefs of notable hotels and restaurants to our tasting events. Currently, our caviar
are served on the menus of various 5-star and Michelin-star restaurants in Hong Kong.</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">We generate all of our revenues, through our
Operating Subsidiary, from trading of caviar products and wine. Our revenues for the years ended December 31, 2024, 2023 and 2022 were
$4.7 million, $16.9 million, $8.5 million, respectively. We have turned around from a loss before tax of approximately $16,888 for the
year ended December 31, 2021 to a profit before tax of approximately $2.3 million for the year ended December 31, 2022, and we have maintained
a profit before tax of approximately $3.0 million and a loss before tax of approximately $2.0 million for the years ended December 31,
2023 and 2024. For the six months ended June 30, 2025, we had an unaudited revenue and net profits of approximately $4.2 million and
$2.4 million respectively.</P>

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

</DIV>



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

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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid"><P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our
                                            top five customers accounted for 92.0% and 94.8% of our total revenues for the years ended
                                            December 31, 2023 and 2022. Our customers, including our top five customers, primarily include
                                            food and beverage (&ldquo;F&amp;B&rdquo;) related distributors. We have strategically focused
                                            on business-to-business sales (B2B) which would allow us access to our customers&rsquo; sales
                                            network and consumer base that helps us maximize the reach of our products swiftly and effectively.
                                            As our caviar products gain popularity worldwide, our customer base has continuously expanded
                                            as a result of customers&rsquo; referral and our marketing efforts. Our caviar products are
                                            mainly sold to customers based in Hong Kong and a substantial portion are exported overseas
                                            by our customers. As our products gradually become more well-known in the international market,
                                            we aspire to expand our sales channels from only selling through distributors to selling
                                            our products directly to overseas customers.</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">Our major suppliers include (i) a sole distributor
and agent of a sturgeon farm in the PRC, Fujian Aoxuanlaisi Biotechnology Co., Ltd (&ldquo;Fujian Aoxuanlaisi&rdquo;), which supplies
caviar raw product to us; (ii) a Hong Kong supply chain management company, Sunfun (China) Limited (&ldquo;Sunfun China&rdquo;), which
handles the logistics, warehousing and packaging workflows in our supply chain; (iii) a Hong Kong wine distributor, which supplies fine
wine to us; and (iv) other suppliers which supply packaging materials and printing services to us. We materially rely on Fujian Aoxuanlaisi
as our supplier for caviar raw product. Fujian Aoxuanlaisi is the agent and distributor of a well-established PRC sturgeon farm, operated
by Fujian Longhuang Biotech Co. Limited (&ldquo;Fujian Longhuang&rdquo;). Fujian Aoxuanlaisi and Fujian Longhuang currently maintain
a long-term exclusive sales agreement for 15 years, from December 2020 to December 2035. Historically, before April 2022, we obtained
the supply of caviar raw product from Fujian Aoxuanlaisi on an as-demand per order basis, without any long-term agreements. In April
2022, our Operating Subsidiary, TW HK, has entered into the Caviar Sales Agreement with Fujian Aoxuanlaisi, appointed us as its exclusive
distributor in Hong Kong and Macau. We do not have any direct supply agreement with Fujian Longhuang, the PRC sturgeon farm.</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">On October 14, 2024, our Company closed a best
effort offering (&ldquo;the Best Effort Offering&rdquo;) which our Company agreed to issue and sell a total of 27,000,000 Ordinary Shares
of par value $0.0001 per share, at the price of $0.40 per Ordinary Share, to several investors (the &ldquo;Purchasers&rdquo;), and entered
several Securities Purchase Agreements with the Purchasers. The Securities Purchase Agreements contain customary representations and
warranties and agreements of our Company and the Purchasers and customary indemnification rights and obligations of the parties. The
gross proceeds received from the Best Effort Offering totaled $10.8 million. The Ordinary Shares were offered pursuant to a registration
statement on Form F-1, as amended (Registration No. 333-282302) originally filed with the SEC on September 24, 2024. The Form F-1 for
the Best Effort Offering was declared effective on September 30, 2024. The final prospectus was filed on October 15, 2024. AC Sunshine
Securities LLC acted as the exclusive placement agent in the Best Effort Offering pursuant to a Placement Agency Agreement dated October
10, 2024, by and between the Company and the AC Sunshine Securities LLC.</P>

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

</DIV>



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

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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid"><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">On April 8, 2025, at the 2025 Annual General
Meeting of shareholders of our Company, our shareholders resolved to, amongst others, approve the adoption of a dual-class share capital
structure by taking the following steps to redesignate and reclassify the authorized share capital of our Company from $50,000 divided
into 500,000,000 ordinary shares of par value $0.0001 each to $50,000 divided into 450,000,000 Class A Ordinary Shares of $0.0001 each
and 50,000,000 Class B Ordinary Shares of $0.0001 each:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; text-align: justify">
<TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">re-designating
                                            all of the issued and outstanding ordinary shares (except for the 15,000,000 ordinary shares
                                            held by Winwin Development Group Limited) into Class A Ordinary Shares, each having one (1)
                                            vote per share, on a one for one basis;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; text-align: justify">
<TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">re-designating
                                            15,000,000 issued and outstanding ordinary shares held by Winwin Development Group Limited
                                            into Class B Ordinary Shares, each having 30 votes per share, on a one for one basis; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; text-align: justify">
<TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">re-designating
                                            the remaining 409,000,000 authorized but unissued ordinary shares into Class A Ordinary Shares
                                            on a one for one basis, and the remaining 35,000,000 authorized but unissued ordinary shares
                                            into Class B Ordinary Shares on a one for one basis.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 4, 2025, our Company adopted an equity
incentive plan (the &ldquo;2025 Equity Incentive Plan&rdquo; or the &ldquo;Plan&rdquo;) to attract, retain, and provide incentives to
key management employees, directors, and consultants of our Company and its affiliates, and to align the interests of such service providers
with those of our Company&rsquo;s shareholders. Pursuant to the Plan, a maximum of 11,200,000 Class A Ordinary Shares of our Company
were reserved and made available for issuance pursuant to awards granted under the Plan. On June 5, 2025, our Company filed a registration
statement on Form S-8 (Registration No. 333-287795) to register 11,200,000 Class A Ordinary Shares reserved and available for issuance
under the 2025 Equity Incentive Plan. The 11,200,000 Class A Ordinary Shares reserved were issued on June 23, 2025.</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; text-align: justify">On July 17, 2025, our Company issued a press
release announcing the approval of a proposed 1-for-90 share consolidation of our Company&rsquo;s Class A Ordinary Shares and Class B
Ordinary Shares, each with a par value of $0.0001 (the &ldquo;Share Consolidation&rdquo;). The Share Consolidation was approved by our
Company&rsquo;s board of directors on June 11, 2025 and by its shareholders at the 2025 Annual General Meeting held on April 8, 2025.
At the opening of trading on July 21, 2025, being the market effective date, the Class A Ordinary Shares began trading on a post-Share
Consolidation basis on the Nasdaq Capital Market under the same symbol &ldquo;TWG&rdquo; but under a new CUSIP number G8945S110. The
objective of the Share Consolidation was to enable our Company to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain
our listing on the Nasdaq Capital Market.</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; text-align: justify">Upon effectiveness of the Share Consolidation,
every 90 issued and outstanding Ordinary Shares of a par value of $0.0001 each were automatically consolidated into one issued and outstanding
Ordinary Share of a par value of $0.009 each. No fractional shares were issued in connection with the Share Consolidation; any fractional
shares that would have resulted were rounded up to the next whole number. The Share Consolidation was effected equally for all shareholders
and did not alter any shareholder&rsquo;s percentage ownership interest in the Company&rsquo;s outstanding Ordinary Shares, except for
adjustments resulting from the treatment of fractional shares.</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">On August 22, 2025, at the extraordinary general
meeting of shareholders of our Company, our shareholders resolved to, amongst others, approve the increase of the authorized share capital
of our Company from $50,000 divided into 5,000,000 Class A Ordinary Shares of par value $0.009 each and 555,556 Class B Ordinary Shares
of par value $0.009 each to $19,800,000 divided into 2,000,000,000 Class A Ordinary Shares of par value $0.009 each and 200,000,000 Class
B Ordinary Shares of par value $0.009 each. On the same day, our shareholders also resolved to adopt a second equity incentive plan (the
&ldquo;2025 Second Equity Incentive Plan&rdquo; or the &ldquo;Second Plan&rdquo;) to attract, retain, and provide incentives to key management
employees, directors and consultants of our Company and its affiliates, and to align the interests of such service providers with those
of our Company&rsquo;s shareholders. Pursuant to the Second Plan, 20% of the number of Class A Ordinary Shares issued as of an effective
date to be determined by our Company&rsquo;s board of directors in its sole discretion until December 31, 2026 will be reserved and made
available for issuance pursuant to awards granted under the Second Plan.</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">As of the date of this prospectus, 580,029 Class
A Ordinary Shares and 166,667 Class B Ordinary Shares were issued and outstanding.</P>

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

</DIV>

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

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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid"><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>Regulatory Developments in the PRC</B></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">Our Operating Subsidiary is located and operates
its business in Hong Kong, a special administrative region of the PRC. Our Operating Subsidiary does not have operation in mainland China
and is not regulated by any regulator in mainland China. As a result, the laws and regulations of mainland China do not currently have
any material impact on our business, financial condition and results of operation.</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">However, due to long arm provisions under the
current mainland China laws and regulations, there remain regulatory and legal uncertainty with respect to the implementation of laws
and regulations of mainland China to Hong Kong. As a result, there is no guarantee that the PRC government may not choose to implement
the laws of the mainland China to Hong Kong and exercise significant direct influence and discretion over the operation of our operating
subsidiary in the future and, it will not have a material adverse impact on our business, financial condition and results of operations,
due to changes in laws, political environment or other unforeseeable reasons.</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">In the event that we or our Hong Kong operating
subsidiary were to become subject to laws and regulations of mainland China, the legal and operational risks associated in mainland China
may also apply to our operations in Hong Kong, and we face the risks and uncertainties associated with the legal system in the mainland
China, complex and evolving mainland China laws and regulations, and as to whether and how the recent PRC government statements and regulatory
developments, such as those relating to data and cyberspace security and anti-monopoly concerns, would be applicable to companies like
our operating subsidiary and us, given the substantial operations of our operating subsidiary in Hong Kong and the PRC government may
exercise significant oversight over the conduct of business in Hong Kong.</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">The laws and regulations in the mainland China
are evolving, and their enactment timetable, interpretation, enforcement, and implementation involve significant uncertainties, and may
change quickly with little advance notice, along with the risk that the PRC government may intervene or influence our operating subsidiary&rsquo;s
operations at any time could result in a material change in our operations and/or the value of our securities. Moreover, there are substantial
uncertainties regarding the interpretation and application of mainland China laws and regulations including, but not limited to, the
laws and regulations related to our business and the enforcement and performance of our arrangements with customers in certain circumstances.
The laws and regulations are sometimes vague and may be subject to future changes, and their official interpretation and enforcement
may involve substantial uncertainty.</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">As a company mainly conducting business in Hong
Kong, a special administrative region of China and our subsidiaries&rsquo; clients include mainland China residents, our subsidiaries&rsquo;
business and our prospects, financial condition, and results of operations may be influenced to a significant degree by political, economic,
and social conditions in China generally. The PRC government may intervene or influence the operations in mainland China of an offshore
holding company at any time, which, if extended to our subsidiaries&rsquo; operations in Hong Kong, could result in a material adverse
change to our subsidiaries&rsquo; operations. The PRC government has recently indicated an intent to exert more oversight and control
over listings conducted overseas and/or foreign investment in issuers based in mainland China. For instance, on July 6, 2021, the relevant
PRC governmental authorities promulgated the Opinions on Strictly Cracking Down on Illegal Securities Activities, which emphasized the
need to strengthen the supervision over overseas listings by companies in mainland China. We cannot assure you that the oversight will
not be extended to companies operating in Hong Kong like us and any such action may significantly limit or completely hinder our ability
to offer or continue to offer our securities to investors, result in a material adverse change to our subsidiaries&rsquo; business operations,
including our subsidiaries&rsquo; Hong Kong operations, and damage our reputation.</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">We have no operations in mainland China. However,
our operating subsidiary, or TW HK is located and operate in Hong Kong, a special administrative region of the PRC, there is no guarantee
that if certain existing or future PRC laws become applicable to our subsidiaries, it will not have a material adverse impact on our
subsidiaries&rsquo; business, financial condition and results of operations and/or our ability to offer or continue to offer securities
to investors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The PRC laws and regulations are evolving, and
their enactment timetable, interpretation and implementation involve significant uncertainties. To the extent any PRC laws and regulations
become applicable to our subsidiaries, we may be subject to the risks and uncertainties associated with the legal system in mainland
China, including with respect to the enforcement of laws and the possibility of changes of rules and regulations with little or no advance
notice.</P>

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

</DIV>

<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">We may also become subject to the PRC laws and
regulations to the extent our subsidiaries commence business and customer facing operations in mainland China as a result of any future
acquisition, expansion or organic growth. There is no guarantee that this will continue to be the case in the future in relation to the
continued listing of our securities on a securities exchange outside of the PRC, or even when such permission is obtained, it will not
be subsequently denied or rescinded. It remains uncertain as to the enactment, interpretation and implementation of regulatory requirements
related to overseas securities offering and other capital markets activities and due to the possibility that laws, regulations, or policies
in the PRC could change rapidly in the future, it remains uncertain whether the PRC government will adopt additional requirements or
extend the existing requirements to apply to our operating subsidiary located in Hong&nbsp;Kong. It is also uncertain whether the Hong&nbsp;Kong
government will be mandated by the PRC government, despite the constitutional constraints of the Basic Law, to control over offerings
conducted overseas and/or foreign investment of entities in Hong&nbsp;Kong, including our operating subsidiary. Any actions by the PRC
government to exert more oversight and control over offerings (including businesses whose primary operations are in Hong&nbsp;Kong) that
are conducted overseas and/or foreign investments in Hong&nbsp;Kong-based&nbsp;issuers could significantly limit or completely hinder
our ability to offer or continue to offer securities to investors and cause the value of our securities to significantly decline or be
worthless.</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">We may be subject to a variety of cybersecurity,
data privacy, data protection, and other PRC laws and regulations related to data, including those relating to the collection, use, sharing,
retention, security, disclosure, and transfer of confidential and private information, such as personal information and other data. These
laws and regulations apply not only to third-party transactions, but also to transfers of information within our organization. These
laws and regulations may restrict our subsidiaries&rsquo; business activities and require us and/or our subsidiaries to incur increased
costs and efforts to comply, and any breach or noncompliance may subject us and/or our subsidiaries to proceedings against such entity(ies),
damage our reputation, or result in penalties and other significant legal liabilities, and thus may materially and adversely affect our
subsidiaries&rsquo; business and our financial condition and results of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As the laws and regulations related to cybersecurity,
data privacy, and data protection in mainland China where our subsidiaries do not have operations are relatively new and evolving, and
their interpretation and application may be uncertain, it is still unclear if we and/or our subsidiaries may become subject to such new
laws and regulations.</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">The PRC Data Security Law, or the Data Security
Law, which was promulgated by the Standing Committee of the National People&rsquo;s Congress on June 10, 2021 and took effect on September
1, 2021, requires data collection to be conducted in a legitimate and proper manner, and stipulates that, for the purpose of data protection,
data processing activities must be conducted based on data classification and hierarchical protection system for data security. According
to Article 2 of the Data Security Law, it applies to data processing activities within the territory of mainland China as well as data
processing activities conducted outside the territory of mainland China which jeopardize the national interest or the public interest
of China or the rights and interest of any PRC organization and citizens. Any entity failing to perform the obligations provided in the
Data Security Law may be subject to orders to correct, warnings and penalties including ban or suspension of business, revocation of
business licenses or other penalties. As of the date of this prospectus, we do not have any operation or maintain any office or personnel
in mainland China, and we have not conducted any data processing activities which may endanger the national interest or the public interest
of China or the rights and interest of any Chinese organization and citizens. Therefore, we do not believe that the Data Security Law
is applicable to us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 20, 2021, the Standing Committee of
the National People&rsquo;s Congress of China promulgated the Personal Information Protection Law, which integrates the scattered rules
with respect to personal information rights and privacy protection and took effect on November 1, 2021. According to Article 3 of the
Personal Information Protection Law, it is applied not only to personal information processing activities carried out in the territory
of mainland China but also to personal information processing activities outside the mainland China for the purpose of offering products
or services to domestic natural persons in the territory of mainland China. The offending entities could be ordered to correct, or to
suspend or terminate the provision of services, and face confiscation of illegal income, fines or other penalties. As our subsidiaries&rsquo;
services are provided in Hong Kong, Cayman Islands, British Virgin Islands and the U.S. rather than in the mainland China to clients
worldwide, including but not limited to clients of mainland China who visit our offices in these locations, we take the view that we
and our subsidiaries are not subject to the Personal Information Protection Law.</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">On July 7, 2022, the Cyberspace Administration
of China (the &ldquo;CAC&rdquo;) issued the Measures for Security Assessment of Outbound Data Transfer, or the Measures, which took effect
on September 1, 2022. According to the Measures, in addition to the self-risk assessment requirement for provision of any data outside
mainland China, a data processor shall apply to the competent cyberspace department for data security assessment and clearance of outbound
data transfer in any of the following events: (i) outbound transfer of important data by a data processor; (ii) outbound transfer of
personal information by an operator of critical information infrastructure or a data processor which has processed more than one million
users&rsquo; personal data; (iii) outbound transfer of personal information by a data processor which has made outbound transfers of
more than one hundred thousand users&rsquo; personal information or more than ten thousand users&rsquo; sensitive personal information
cumulatively since January 1 of the previous year; (iv) such other circumstances where ex-ante security assessment and evaluation of
cross-border data transfer is required by the CAC. As of the date of this prospectus, we and our subsidiaries have not collected, stored,
or managed any personal information in mainland China. therefore, we believe that the Measures is not applicable to us.</P>

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

</DIV>

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

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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid"><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">The Cybersecurity Review Measures jointly promulgated
by the CAC and other relevant PRC governmental authorities on December 28, 2021 required that, among others, &ldquo;critical information
infrastructure&rdquo; or network platform operators holding over one million users&rsquo; personal information to apply for a cybersecurity
review before any public offering on a foreign stock exchange. However, this regulation is recently issued and there remain substantial
uncertainties about its interpretation and implementation.</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">As of the date of this prospectus, we and our
subsidiaries do not have any business operation or maintain any office or personnel in mainland China. We and our subsidiaries have not
collected, stored, or managed any personal information in mainland China. Based on our inquiry with the China Cybersecurity Review Technology
and Certification Center (the &ldquo;CCRC&rdquo;) and the assessment conducted by the management, we believe that we and our subsidiaries
are not currently required to proactively apply to a cybersecurity review for this offering or follow-on offerings overseas, on the basis
that (i) our subsidiaries are incorporated in Hong Kong, the British Virgin Islands, and other jurisdictions outside of mainland China
and operate in Hong Kong without any subsidiary or variable interest entities (&ldquo;VIE&rdquo;) structure in mainland China, and we
do not maintain any office or personnel in mainland China; (ii) except for the Basic Law, the National Laws do not apply in Hong Kong
unless they are listed in Annex III of the Basic Law and applied locally by promulgation or local legislation, and National Laws that
may be listed in Annex III are currently limited under the Basic Law to those which fall within the scope of defense and foreign affairs
as well as other matters outside the limits of the autonomy of Hong Kong, and PRC laws and regulations relating to data protection and
cyber security have not been listed in Annex III as the date of this prospectus; (iii) our data processing activities are solely carried
out by our overseas entities outside of mainland China for the purpose of offering products or services in Hong Kong and other jurisdictions
outside of mainland China; (iv) we and our subsidiaries do not control more than one millions users&rsquo; personal information as of
the date of this prospectus; (v) as of the date of this prospectus, we and our subsidiaries have not received any notice of identifying
us as critical information infrastructure from any relevant PRC governmental authorities; (vi) as of the date of this prospectus, none
of us or our subsidiaries have been informed by any PRC governmental authority of any requirement for a cybersecurity review; and (vii)
based on our inquiry with the CCRC, the officer who provides cybersecurity review consultation service under CCRC believes that we are
currently not required to apply to a cybersecurity review for our public offerings on a foreign stock exchange with the CAC because we
neither currently have any operation in mainland China nor control more than one millions users&rsquo; personal information as of the
date of this prospectus. Additionally, we believe that we and our subsidiaries are compliant with the regulations and policies that have
been issued by the CAC to date and there was no material change to these regulations and policies. However, regulatory requirements on
cybersecurity and data security in the mainland China are constantly evolving and can be subject to varying interpretations or significant
changes, which may result in uncertainties about the scope of our responsibilities in that regard, and there can be no assurance that
the relevant PRC governmental authorities, including the CAC, would reach the same conclusion as our PRC counsel. We will closely monitor
and assess the implementation and enforcement of the Cybersecurity Review Measures. If the Cybersecurity Review Measures mandates clearance
of cybersecurity and/or data security regulators and other specific actions to be completed by companies like us, we may face uncertainties
as to whether we can meet such requirements timely, or at all.</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">On February 17, 2023, the CSRC promulgated the
Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies (the &ldquo;Trial Measures&rdquo;) and
five supporting guidelines, which took effect on March 31, 2023. The Trial Measures requires companies in mainland China that seek to
offer and list securities overseas, both directly and indirectly, to fulfill the filing procedures with the CSRC. According to the Trial
Measures, the determination of the &ldquo;indirect overseas offering and listing by companies in mainland China&rdquo; shall comply with
the principle of &ldquo;substance over form&rdquo; and particularly, an issuer will be required to go through the filing procedures under
the Trial Measures if the following criteria are met at the same time: (i) 50% or more of the issuer&rsquo;s operating revenue, total
profits, total assets or net assets as documented in its audited consolidated financial statements for the most recent accounting year
are accounted for by companies in mainland China; and (ii) the main parts of the issuer&rsquo;s business activities are conducted in
mainland China, or its main places of business are located in mainland China, or the senior managers in charge of its business operation
and management are mostly Chinese citizens or domiciled in mainland China. On the same day, the CSRC held a press conference for the
release of the Trial Measures and issued the Notice on Administration for the Filing of Overseas Offering and Listing by Domestic Companies,
which clarifies that (i) on or prior to the effective date of the Trial Measures, companies in mainland China that have already submitted
valid applications for overseas offering and listing but have not obtained approval from overseas regulatory authorities or stock exchanges
shall complete the filing before the completion of their overseas offering and listing; and (ii) companies in mainland China which, prior
to the effective date of the Trial Measures, have already obtained the approval from overseas regulatory authorities or stock exchanges
and are not required to re-perform the regulatory procedures with the relevant overseas regulatory authority or stock exchange, but have
not completed the indirect overseas listing, shall complete the overseas offering and listing before September 30,2023, and failure to
complete the overseas listing within such six-month period will subject such companies to the filing requirements with the CSRC.</P>

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

</DIV>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on the assessment conducted by the management,
we are not subject to the Trial Measures, because we are incorporated in the Cayman Islands and our subsidiaries are incorporated in
Hong Kong, the British Virgin Islands and other regions outside of mainland China and operate in Hong Kong without any subsidiary or
VIE structure in mainland China, and we do not have any business operations or maintain any office or personnel in mainland China. However,
as the Trial Measures and the supporting guidelines are newly published, there exists uncertainty with respect to the implementation
and interpretation of the principle of &ldquo;substance over form&rdquo;. As of the date of this prospectus, there was no material change
to these regulations and policies. If this offering and future follow-on offerings, and listing were later deemed as &ldquo;indirect
overseas offering and listing by companies in mainland China&rdquo; under the Trial Measures, we may need to complete the filing procedures
for our offering and future follow-on offerings, and listing. If we are subject to the filing requirements, we cannot assure you that
we will be able to complete such filings in a timely manner or even at all.</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">Since these statements and regulatory actions
are new, it is also highly uncertain in the interpretation and the enforcement of the above cybersecurity and overseas listing laws and
regulation. There is no assurance that the relevant PRC governmental authorities would reach the same conclusion as us. If we and/or
our subsidiaries are required to obtain approval or fillings from any governmental authorities, including the CAC and/or the CSRC, in
connection with the listing or continued listing of our securities on a stock exchange outside of Hong Kong or mainland China, it is
uncertain how long it will take for us and/or our subsidiaries to obtain such approval or complete such filing, and, even if we and our
subsidiaries obtain such approval or complete such filing, the approval or filing could be rescinded. Any failure to obtain or a delay
in obtaining the necessary permissions from or complete the necessary filing procedure with the PRC governmental authorities to conduct
offerings or list outside of Hong Kong or mainland China may subject us and/or our subsidiaries to sanctions imposed by the PRC governmental
authorities, which could include fines and penalties, suspension of business, proceedings against us and/or our subsidiaries, and even
fines on the controlling shareholder and other responsible persons, and our subsidiaries&rsquo; ability to conduct our business, our
ability to invest into mainland China as foreign investments or accept foreign investments, or our ability to list on a U.S. or other
overseas exchange may be restricted, and our subsidiaries&rsquo; business, and our reputation, financial condition, and results of operations
may be materially and adversely affected.</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">Based on management&rsquo;s internal assessment,
we are not required to obtain permission or approval from Hong Kong authorities to operate our business or offer the securities being
registered to foreign investors as of the date of this prospectus. Should there be any change in applicable laws, regulations, or interpretations,
and we or any of our subsidiaries are required to obtain such permissions or approvals in the future, we will strive to comply with the
then applicable laws, regulations, or interpretations.</P>

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

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Based on management&rsquo;s internal assessment
that our Company and our Operating Subsidiary currently have no material operations in the mainland China, management understands that
as of the date of this prospectus, we are not required to obtain any permissions or approvals from mainland Chinese authorities to offer
the securities being registered to foreign investors, including the CAC or the CSRC. We also understand that we are not required to obtain
any permissions or approvals from any mainland Chinese authorities to operate our businesses as of the date of this prospectus. No permissions
or approvals have been applied for by our Company or denied by any relevant authority. However, uncertainties still exist, due to the
possibility that laws, regulations, or policies in the PRC could change rapidly in the future.</P>

</DIV>

<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; text-align: justify"><B>Implications of Being An Emerging Growth Company</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">As a company with less than $1.235 billion in
revenue for our last fiscal year, we qualify as an &ldquo;emerging growth company&rdquo; pursuant to the Jumpstart Our Business Startups
Act of 2012, as amended, or the JOBS Act. An emerging growth company may take advantage of specified reduced reporting and other requirements
compared to those that are otherwise applicable generally to public companies. These provisions include exemption from the auditor attestation
requirement under Section 404 of the Sarbanes-Oxley Act of 2002 in the assessment of the emerging growth company&rsquo;s internal control
over financial reporting. The JOBS Act also provides that an emerging growth company does not need to comply with any new or revised
financial accounting standards until such date that a private company is otherwise required to comply with such new or revised accounting
standards. Pursuant to the JOBS Act, we have elected to take advantage of the benefits of this extended transition period for complying
with new or revised accounting standards. As a result, our operating results and financial statements may not be comparable to the operating
results and financial statements of other companies who have adopted the new or revised accounting standards.</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">We will remain an emerging growth company until
the earliest of (i) the last day of the fiscal year during which we have total annual gross revenues of at least $1.235 billion; (ii)
the last day of our fiscal year following the fifth anniversary of the completion of our IPO; (iii) the date on which we have, during
the preceding three-year period, issued more than $1.0 billion in non-convertible debt; or (iv) the date on which we are deemed to be
a &ldquo;large accelerated filer&rdquo; under the Securities Exchange Act of 1934, as amended, or the Exchange Act, which would occur
if the market value of our Class A Ordinary Shares that are held by non-affiliates exceeds $700 million as of the last business day of
our most recently completed second fiscal quarter. Once we cease to be an emerging growth company, we will not be entitled to the exemptions
provided in the JOBS Act discussed above.</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>Implications of Being a Foreign Private Issuer</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">We are incorporated in the Cayman Islands, and
more than 50 percent of our outstanding voting securities are not directly or indirectly held by residents of the United States. Therefore,
we are a &ldquo;foreign private issuer,&rdquo; as defined in Rule 405 under the Securities Act and Rule 3b-4(c) under the Exchange Act.
As a result, we are not subject to the same requirements as U.S. domestic issuers. Under the Exchange Act, we will be subject to reporting
obligations that, to some extent, are more lenient and less frequent than those of U.S. domestic reporting companies. For example, we
will not be required to issue quarterly reports or proxy statements. We will not be required to disclose detailed individual executive
compensation information. Furthermore, our directors and executive officers will not be required to report equity holdings under Section
16 of the Exchange Act and will not be subject to the insider short-swing profit disclosure and recovery regime. In addition, as a company
incorporated in the Cayman Islands, we are permitted to adopt certain home country practices in relation to corporate governance matters
that differ significantly from the Nasdaq Stock Market corporate governance requirements. These practices may afford less protection
to shareholders than they would enjoy if we complied fully with the Nasdaq Stock Market corporate governance requirements Currently,
we do not plan to rely on home country practice with respect to our corporate governance. However, to the extent we choose to follow
home country practice in the future, our shareholders may be afforded less protection than they otherwise would under the Nasdaq corporate
governance listing standards applicable to U.S. domestic issuers.</P>

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

</DIV>

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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid"><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>Summary of Risk Factors</B></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">Investing in our Class A Ordinary Shares involves
significant risks. Our business is subject to multiple risks and uncertainties, as more fully described in &ldquo;Risk Factors&rdquo;
and elsewhere in this prospectus. We urge you to read &ldquo;Risk Factors&rdquo; and this prospectus in full. Our principal risks may
be summarized as follows:</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><I>Risks Related to Doing Business in the
Jurisdictions in which we Operate</I></B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All of
    our operations are in Hong Kong. However, due to the long arm application of the current PRC laws and regulations, the PRC government
    may exercise significant direct oversight and discretion over the conduct of our business and may intervene or influence our operations,
    which could result in a material change in our operations and/or the value of our Class A Ordinary Shares. Our Operating Subsidiary
    in Hong Kong may be subject to laws and regulations of the mainland China, which may impair our ability to operate profitably and
    result in a material negative impact on our operations and/or the value of our Class A Ordinary Shares. Furthermore, the changes
    in the policies, regulations, rules, and the enforcement of laws of the PRC may also occur quickly with little advance notice and
    our assertions and beliefs of the risk imposed by the PRC legal and regulatory system cannot be certain.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC government may
    intervene or influence the Hong Kong operations of an offshore holding company, such as ours, at any time. The PRC government may
    exert more control over offerings conducted overseas and/or foreign investment in Hong Kong-based issuers. If the PRC government
    exerts more oversight and control over offerings that are conducted overseas and/or foreign investment in Hong Kong-based issuers
    and we were to be subject to such oversight and control, it may result in a material adverse change to our subsidiaries&rsquo; business
    operations, including our subsidiaries&rsquo; operations in Hong Kong.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our subsidiaries&rsquo;
    business, our financial condition and results of operations, and/or the value of our Class A Ordinary Shares or our ability to offer
    or continue to offer securities to investors may be materially and adversely affected by existing or future PRC laws and regulations
    which may become applicable to our subsidiaries.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC government may
    exert substantial influence and discretion over mainland China residents and the manner in which companies incorporated under the
    PRC laws must conduct their business activities. Through our subsidiaries, we are a Hong Kong-based company with no operations in
    mainland China, and mainland China residents may purchase our subsidiaries&rsquo; product in Hong Kong. If we were to become subject
    to such direct influence or discretion, it may result in a material change in our subsidiaries&rsquo; operations.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Uncertainties with respect
    to the PRC legal system, including uncertainties regarding the enforcement of laws, and sudden or unexpected changes in laws and
    regulations in China could adversely affect us and limit the legal protections available to you and us.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we and/or our subsidiaries
    were to be required to comply with cybersecurity, data privacy, data protection, or any other PRC laws and regulations related to
    data and we and/or our subsidiaries cannot comply with such PRC laws and regulations, our subsidiaries&rsquo; business, financial
    condition, and results of operations may be materially and adversely affected.&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we and/or our subsidiaries
    were to be required to obtain any permission or approval from or complete any filing procedure with the China Securities Regulatory
    Commission (the &ldquo;CSRC&rdquo;), the CAC, or other PRC governmental authorities in connection with this offering or future follow-on
    offerings under PRC laws, we and/or our subsidiaries may be fined or subject to other sanctions, and our subsidiaries&rsquo; business
    and our reputation, financial condition, and results of operations may be materially and adversely affected.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our Hong Kong subsidiaries
    may be subject to restrictions on paying dividends or making other payments to us, which may restrict their ability to satisfy liquidity
    requirements, conduct business and pay dividends to holders of our Class A Ordinary Shares.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Chinese government
    may intervene or influence our Chinese supplier and its exclusive overseas agent&rsquo;s operations at any time, or may exert more
    control over how our PRC-based supplier operate their business or cooperate with us. This could result in a material change in our
    PRC-based supplier&rsquo;s operations and indirectly the value of our Class A Ordinary Shares.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Hong Kong legal system
    embodies uncertainties which could limit the legal protections available to our Operating Subsidiary.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amid the ongoing tariff
    war between the United States and China as of the date of this prospectus, the Trump administration might proceed toward a removal
    of Chinese companies from American stock exchanges. Our shares may be prohibited from being traded on a national securities exchange
    or in the over-the-counter trading market in the United States, which will materially and adversely affect the value of your investment.</FONT></TD></TR>
  </TABLE>

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

</DIV>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The current trade tension
    between the U.S. and the PRC may potentially have a negative impact on our business, financial condition and results of operations.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes and the downturn
    in the economic, political, or social conditions of Hong Kong, mainland China and other countries or changes to the government policies
    of Hong Kong and mainland China could have a material adverse effect on our business and operations.</FONT></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; text-align: justify"><B><I>Risks Related to this Offering</I></B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchasers who purchase
    our securities in this offering pursuant to a securities purchase agreement may have rights not available to purchasers that purchase
    without the benefit of a securities purchase agreement.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This is a reasonable best
    efforts offering, with no minimum amount of Securities required to be sold, and we may not raise the amount of capital we believe
    is required for our business plans, including our near-term business plans, nor will investors in this offering receive a refund
    in the event that we do not sell an amount of Securities sufficient to pursue the business goals outlined in this prospectus.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our management has broad
    discretion to determine how to use the funds raised in this offering and may use them in ways that may not enhance our results of
    operations or the price of our Class A Ordinary Shares.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There is no public market
    for the Class A Warrants sold in this offering.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Class A Warrants
    are speculative in nature. Holders of the Class A Warrants offered hereby will have no rights as Class A Ordinary Shareholders with
    respect to Class A Ordinary Shares underlying such warrants until such holders exercise their warrants and acquire our Class A Ordinary
    Shares, except as otherwise provided in the the Class A Warrants.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have broad discretion
    in how we use the net proceeds of this offering, and we may not use these proceeds effectively or in ways with which you agree.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Risks Related to our Class A Ordinary Shares</I></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">In addition to the risks described above, we
are subject to general risks relating to our Class A Ordinary Shares, including, but not limited to, the following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Short selling may drive
    down the market price of our Class A Ordinary Shares.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our dual-class share structure
    with different voting rights will limit your ability to influence corporate matters and could discourage others from pursuing any
    change of control transactions that holders of our Class A ordinary shares may view as beneficial.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The dual-class structure
    of our shares may adversely affect the trading market for our Class A Ordinary Shares.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We are a &ldquo;controlled
    company&rdquo; within the meaning of the Nasdaq Stock Market Rules and, as a result, may rely on exemptions from certain corporate
    governance requirements that provide protection to shareholders of other companies.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our controlling shareholders
    have substantial influence over and our interests may not be aligned with the interests of our other shareholders.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PCAOB may be unable
    to inspect or fully investigate our auditors as required under the Holding Foreign Companies Accountable Act, or the HFCAA, as amended.
    If the PCAOB is unable to conduct such inspections for two consecutive years, the SEC will prohibit the trading of our shares. The
    delisting of our shares, or the threat of their being delisted, may materially and adversely affect the value of your investment.
    Additionally, the inability of the PCAOB to conduct inspections of our auditors would deprive our investors of the benefits of such
    inspections.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The trading price of our
    Class A Ordinary Shares may be volatile, which could result in substantial losses to you.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our Class A Ordinary Shares
    may be thinly traded and you may be unable to sell at or near ask prices or at all if you need to sell your shares to raise money
    or otherwise desire to liquidate your shares.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If securities or industry
    analysts do not publish or publish inaccurate or unfavorable research about our business, or if they adversely change their recommendations
    regarding our Class A Ordinary Shares, the market price for our Class A Ordinary Shares and trading volume could decline.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"></P>

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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we fail to meet applicable
    listing requirements, Nasdaq may delist our Class A Ordinary Shares from trading, in which case the liquidity and market price of
    our Class A Ordinary Shares could decline.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because the amount, timing,
    and whether or not we distribute dividends at all is entirely at the discretion of our Board of Directors, you must rely on price
    appreciation of our Class A Ordinary Shares for return on your investment.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our board of directors
    may decline to register transfers of Class A Ordinary Shares in certain circumstances.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because we are a foreign
    private issuer and are exempt from certain Nasdaq corporate governance standards applicable to U.S. issuers, you will have less protection
    than you would have if we were a domestic issuer.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We qualify as a foreign
    private issuer and, as a result, we will not be subject to U.S. proxy rules and will be subject to Exchange Act reporting obligations
    that permit less detailed and less frequent reporting than that of a U.S. corporation.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We may lose our foreign
    private issuer status in the future, which could result in significant additional costs and expenses.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The enforcement of foreign
    civil liabilities in the Cayman Islands and Hong Kong is subject to certain conditions. Therefore, certain judgments obtained against
    us by our shareholders may be difficult to enforce in such jurisdictions.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You may face difficulties
    in protecting your interests, and your ability to protect your rights through U.S. courts may be limited, because we are incorporated
    under Cayman Islands law.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a company incorporated
    in the Cayman Islands, we are permitted to adopt certain Cayman Islands&rsquo; practices in relation to corporate governance matters
    that differ significantly from the Nasdaq Capital Market listing standards; these practices may afford less protection to shareholders
    than they would enjoy if we complied fully with the Nasdaq Capital Market listing standards.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There can be no assurance
    that we will not be a passive foreign investment company, or PFIC, for United States federal income tax purposes for any taxable
    year, which could subject United States investors in our Class A Ordinary Shares to significant adverse United States income tax
    consequences.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We are an &ldquo;emerging
    growth company&rdquo; within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements
    available to emerging growth companies, this could make it more difficult to compare our performance with other public companies.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As an &ldquo;emerging growth
    company&rdquo; under applicable law, we will be subject to lessened disclosure requirements. Such reduced disclosure may make our
    Class A Ordinary Shares less attractive to investors.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We will incur increased
    costs as a result of being a public company, particularly after we cease to qualify as an &ldquo;emerging growth company.&rdquo;</FONT></TD></TR>
  </TABLE>
<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>Implications of the Holding Foreign Companies
Accountable Act (the &ldquo;HFCAA&rdquo;)</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">The Holding Foreign Companies Accountable Act,
or the HFCAA, was enacted on December 18, 2020. The HFCAA states if the SEC determines that we have filed audit reports issued by a registered
public accounting firm that has not been subject to inspection by the PCAOB for three consecutive years beginning in 2021, the SEC shall
prohibit our shares from being traded on a national securities exchange or in the over-the-counter trading market in the United States.</P>

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

</DIV>

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

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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid"><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">On March 24, 2021, the SEC adopted interim final
rules relating to the implementation of certain disclosure and documentation requirements of the HFCA Act. A company will be required
to comply with these rules if the SEC identifies it as having a &ldquo;non-inspection&rdquo; year under a process to be subsequently
established by the SEC. The SEC is assessing how to implement other requirements of the HFCA Act, including the listing and trading prohibition
requirements described above. Furthermore, on June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable
Act (the &ldquo;AHFCAA&rdquo;), which was signed into law on December 29, 2022, amending the HFCAA and requiring the SEC to prohibit
an issuer&rsquo;s securities from trading on any U.S. stock exchange if its auditor is not subject to PCAOB inspections for two consecutive
years instead of three consecutive years. On September 22, 2021, the PCAOB adopted a final rule implementing the HFCAA, which provides
a framework for the PCAOB to use when determining, as contemplated under the HFCAA, whether the PCAOB is unable to inspect or investigate
completely registered public accounting firms located in a foreign jurisdiction because of a position taken by one or more authorities
in that jurisdiction. On December 2, 2021, the SEC issued amendments to finalize rules implementing the submission and disclosure requirements
in the HFCA Act. The rules apply to registrants that the SEC identifies as having filed an annual report with an audit report issued
by a registered public accounting firm that is located in a foreign jurisdiction and that PCAOB is unable to inspect or investigate completely
because of a position taken by an authority in foreign jurisdictions. On December 16, 2021, the PCAOB issued a Determination Report which
found that the PCAOB is unable to inspect or investigate completely registered public accounting firms headquartered in: (i) China, and
(ii) Hong Kong.</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">On August 26, 2022, the PCAOB announced and signed
a Statement of Protocol (the &ldquo;Protocol&rdquo;) with the China Securities Regulatory Commission and the Ministry of Finance of the
People&rsquo;s Republic of China. The Protocol provides the PCAOB with: (1) sole discretion to select the firms, audit engagements and
potential violations it inspects and investigates, without any involvement of Chinese authorities; (2) procedures for PCAOB inspectors
and investigators to view complete audit work papers with all information included and for the PCAOB to retain information as needed;
(3) direct access to interview and take testimony from all personnel associated with the audits the PCAOB inspects or investigates.</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">On December 15, 2022, the PCAOB issued a new
Determination Report which: (1) vacated the December 16, 2021 Determination Report; and (2) concluded that the PCAOB has been able to
conduct inspections and investigations completely in the PRC in 2022. The December 15, 2022 Determination Report cautions, however, that
authorities in the PRC might take positions at any time that would prevent the PCAOB from continuing to inspect or investigate completely.
As required by the HFCAA, if in the future the PCAOB determines it no longer can inspect or investigate completely because of a position
taken by an authority in the PRC, the PCAOB will act expeditiously to consider whether it should issue a new determination.</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">Our
                                            current auditor, Audit Alliance LLP and previous auditor, Onestop Assurance PAC, the independent
                                            registered public accounting firm that issues the audit report for the fiscal years ended
                                            December 31, 2024 and 2023, is currently subject to PCAOB inspections and the PCAOB is able
                                            to inspect our auditor. Audit Alliance LLP and Onestop Assurance PAC, both headquartered
                                            in Singapore, have been inspected by the PCAOB on a regular basis. Each of our auditors is
                                            not headquartered in mainland China or Hong Kong and was not identified in the Determination
                                            Report as a firm subject to the PCAOB&rsquo;s determination. Therefore, we believe that,
                                            as of the date of this prospectus, each of our auditors is not subject to the PCAOB determinations.
                                            Notwithstanding the foregoing, in the future, if there is any regulatory change or step taken
                                            by PRC regulators that does not permit Audit Alliance LLP or Onestop Assurance PAC to provide
                                            audit documentations located in China or Hong Kong to the PCAOB for inspection or investigation,
                                            or the PACOB expands the scope of the Determination so that we are subject to the HFCAA,
                                            as the same may be amended, you may be deprived of the benefits of such inspection which
                                            could result in limitation or restriction to our access to the U.S. capital markets and trading
                                            of our securities, including trading on the national exchange. See &ldquo;Risk Factors &mdash;
                                            Risks Related to Our Class A Ordinary Shares &mdash; <I>The PCAOB may be unable to inspect
                                            or fully investigate our auditors as required under the Holding Foreign Companies Accountable
                                            Act, or the HFCAA, as amended. If the PCAOB is unable to conduct such inspections for two
                                            consecutive years, the SEC will prohibit the trading of our shares. The delisting of our
                                            shares, or the threat of their being delisted, may materially and adversely affect the value
                                            of your investment. Additionally, the inability of the PCAOB to conduct inspections of our
                                            auditors would deprive our investors of the benefits of such inspections.</I>&rdquo; We cannot
                                            assure you whether Nasdaq or other regulatory authorities will apply additional or more stringent
                                            criteria to us. Such uncertainty could cause the market price of our Class A Ordinary Shares
                                            to be materially and adversely affected.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Corporate Information</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; text-align: justify">Our principal executive offices are located at
Units 714 &amp; 715, 7F, Hong Kong Plaza, 188 Connaught Road West, Hong Kong. Our telephone number at this address is +852 36158567.
Our registered office in the Cayman Islands is located at the office of Ogier Global (Cayman) Limited, 89 Nexus Way, Camana Bay, Grand
Cayman, KY1-9009, Cayman Islands. Our agent for service of process in the United States is Cogency Global Inc. located at 122 East 42nd
Street, 18th Floor, New York, NY 10168.</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">Investors should contact us for any inquiries
through the address and telephone number of our principal executive offices. We have maintained our website at <I>https://www.imperialcristalcaviar.com/
and https://ir.imperialcristalcaviar.com. </I>The information contained on our website is not a part of this this prospectus.</P>

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

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

</DIV>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"></P>

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

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

<DIV STYLE="padding: 5pt; border: Black 1.5pt solid"><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; text-align: center"><B><A NAME="a_022"></A>THE OFFERING</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuer</FONT></TD>
    <TD STYLE="text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 74%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Top Wealth
    Group Holding Limited</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A Ordinary Shares
    offered by us</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">

<P STYLE="margin: 0">720,000 Class A Ordinary Shares at a combined public offering price
of $7.00 per Class A Ordinary Share and accompanying Class A Warrants.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A Warrants Offered
    by us </FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="text-align: justify; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Class A Warrants will have an exercise price of $7.00 per Class
A Ordinary Share. The Series A Class A Warrants will expire on the five-year anniversary of the original issuance date. The Series B Class
A Warrants will expire on the eighteen-month anniversary of the original issuance date. The Class A Warrants will be immediately exercisable
upon issuance.</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">The Class A Ordinary Shares and the accompanying
Class A Warrants, as the case may be, can only be purchased together in this offering but will be issued separately.</P>

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

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">To better understand the terms of the Class A Warrants, you should
carefully read the &ldquo;Description of Securities We Are Offering&rdquo; section of this prospectus. You should also read the forms
of Class A Warrants, which will be filed as exhibits to the registration statement that includes this prospectus. This prospectus also
relates to the offering of the Class A Ordinary Shares issuable upon exercise of the Class A Warrants.&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ordinary Shares issued and outstanding prior to this offering:</FONT></TD>
    <TD STYLE="text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 74%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">580,029 Class A Ordinary Shares and 166,667 Class B Ordinary Shares</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ordinary Shares outstanding immediately after this offering<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">1,300,029 Class A Ordinary Shares, assuming no exercise of the Class
A Warrants being offered in this offering and 166,667 Class B Ordinary Shares.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of proceeds</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">We estimate that the net proceeds of this offering, after deducting
placement agent fees and estimated offering expenses payable by us, will be approximately $4,341,544, assuming no exercise of the Class
A Warrants. We intend to use the net proceeds from this Offering for general corporate and working capital purposes. &nbsp; See &ldquo;Use
of Proceeds&rdquo; on page 39 for additional information.&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Listing</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our Class A Ordinary Shares are listed on the Nasdaq Capital Market under the symbol &ldquo;TWG.&rdquo; </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk factors</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">See &ldquo;Risk Factors&rdquo; beginning on page 15 for a discussion of risks you should carefully consider before investing in our Class A Ordinary Shares.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lock-up Agreements</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">The Company and our directors and officers and each holder of our Class A Ordinary Shares holding 5% or more of the Company&rsquo;s issued and outstanding shares of Class A Ordinary Shares, have agreed with the placement agent, subject to certain exceptions, not to sell, transfer or dispose of, directly or indirectly, any of our common stock or securities convertible into or exercisable or exchangeable for our common stock for a period of ninety&nbsp;(90) days after the closing of this offering. See &ldquo;Plan of Distribution&rdquo; for more information.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nasdaq Listing</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Our Class A Ordinary Shares are listed on Nasdaq under the symbol &ldquo;TWG.&rdquo; We do not intend to apply for the listing of Class A Warrants on any national securities exchange or other trading system. Without an active trading market, the liquidity of the Class A Warrants will be limited.</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD><TD STYLE="text-align: justify">The
                                            number of Class A Ordinary Shares to be outstanding after this offering is based on 580,029
                                            Class A Ordinary Shares and 166,667 Class B Ordinary Shares outstanding as of August 31,
                                            2025. The number of Class A Ordinary Shares equal to 20% of the number of Class A Ordinary
                                            Shares issued as of an effective date to be determined by our Company&rsquo;s board of directors
                                            in its sole discretion prior to December 31, 2026, are reserved and made available for issuance
                                            pursuant to awards granted under the 2025 Second Equity Incentive Plan. Our board of directors
                                            has not determined such date as of the filing of this prospectus.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless
                                            otherwise indicated, the information in this prospectus, including the number of Class A
                                            Ordinary Shares outstanding after this offering, does not reflect any exercise of the Class
                                            A Warrants in this offering.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">

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

</DIV>

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

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<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; text-align: center"><B><A NAME="a_023"></A>RISK FACTORS</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"><I>An investment in our securities involves a
high degree of risk. Before deciding whether to invest in our securities, you should consider carefully the risks described below, as
well as risk factors and other information set forth in this prospectus and which is incorporated by reference in our most recent Annual
Report on Form 20-F. If any of these risks actually occurs, our business, financial condition, results of operations or cash flow could
be materially and adversely affected, which could cause the trading price of our Class A Ordinary Shares to decline, resulting in a loss
of all or part of your investment.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Risks Related to Doing Business in the
Jurisdictions in which We Operate</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>All of our operations are in Hong Kong.
However, due to the long arm application of the current PRC laws and regulations, the PRC government may exercise significant direct
oversight and discretion over the conduct of our business and may intervene or influence our operations, which could result in a material
change in our operations and/or the value of our Class A Ordinary Shares. Our Operating Subsidiary in Hong Kong may be subject to laws
and regulations of mainland China, which may impair our ability to operate profitably and result in a material negative impact on our
operations and/or the value of our Class A Ordinary Shares. Furthermore, the changes in the policies, regulations, rules, and the enforcement
of laws of the PRC may also occur quickly with little advance notice and our assertions and beliefs of the risk imposed by the PRC legal
and regulatory system cannot be certain.</I></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">Our Operating Subsidiary is located and operates
its business in Hong Kong, a special administrative region of the PRC. Our Operating Subsidiary does not have operation in mainland China
and is not regulated by any regulator in mainland China. As a result, the laws and regulations of mainland China do not currently have
any material impact on our business, financial condition and results of operation. Furthermore, except for the Basic Law of the Hong
Kong Special Administrative Region of the People&rsquo;s Republic of China (&ldquo;Basic Law&rdquo;), national laws of mainland China
(&ldquo;National Laws&rdquo;) do not apply in Hong Kong unless they are listed in Annex III of the Basic Law and applied locally by promulgation
or local legislation. National laws that may be listed in Annex III are currently limited under the Basic Law to those which fall within
the scope of defense and foreign affairs as well as other matters outside the limits of the autonomy of Hong Kong. National laws and
regulations relating to data protection, cybersecurity and the anti-monopoly have not been listed in Annex III and so do not apply directly
to Hong Kong.</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">However, due to long arm provisions under the
current mainland China laws and regulations, there remain regulatory and legal uncertainty with respect to the implementation of laws
and regulations of mainland China to Hong Kong. As a result, there is no guarantee that the PRC government may not choose to implement
the laws of the mainland China to Hong Kong and exercise significant direct influence and discretion over the operation of our operating
subsidiary in the future and, it will not have a material adverse impact on our business, financial condition and results of operations,
due to changes in laws, political environment or other unforeseeable reasons.</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">In the event that we or our Hong Kong operating
subsidiary were to become subject to laws and regulations of mainland China, the legal and operational risks associated in mainland China
may also apply to our operations in Hong Kong, and we face the risks and uncertainties associated with the legal system in the mainland
China, complex and evolving mainland China laws and regulations, and as to whether and how the recent PRC government statements and regulatory
developments, such as those relating to data and cyberspace security and anti-monopoly concerns, would be applicable to companies like
our operating subsidiary and us, given the substantial operations of our operating subsidiary in Hong Kong and the PRC government may
exercise significant oversight over the conduct of business in Hong Kong.</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; text-align: justify">The laws and regulations in the mainland China
are evolving, and their enactment timetable, interpretation, enforcement, and implementation involve significant uncertainties, and may
change quickly with little advance notice, along with the risk that the PRC government may intervene or influence our operating subsidiary&rsquo;s
operations at any time could result in a material change in our operations and/or the value of our securities. Moreover, there are substantial
uncertainties regarding the interpretation and application of mainland China laws and regulations including, but not limited to, the
laws and regulations related to our business and the enforcement and performance of our arrangements with customers in certain circumstances.
The laws and regulations are sometimes vague and may be subject to future changes, and their official interpretation and enforcement
may involve substantial uncertainty. The effectiveness and interpretation of newly enacted laws or regulations, including amendments
to existing laws and regulations, may be delayed, and our business may be affected if we rely on laws and regulations which are subsequently
adopted or interpreted in a manner different from our understanding of these laws and regulations. New laws and regulations that affect
existing and proposed future businesses may also be applied retroactively. We cannot predict what effect the interpretation of existing
or new PRC laws or regulations may have on our business.</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">The laws, regulations, and other government directives
in mainland China may also be costly to comply with, and such compliance or any associated inquiries or investigations or any other government
actions may:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">delay
    or impede our development;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">result in negative publicity
    or increase our operating costs;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">require significant management
    time and attention;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">cause devaluation of our
    securities or delisting; and,</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">subject us to remedies,
    administrative penalties and even criminal liabilities that may harm our business, including fines assessed for our current or historical
    operations, or demands or orders that we modify or even cease our business operations.</FONT></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; text-align: justify"><B><I>The PRC government may intervene or influence
the Hong Kong operations of an offshore holding company, such as ours, at any time. The PRC government may exert more control over offerings
conducted overseas and/or foreign investment in Hong Kong-based issuers. If the PRC government exerts more oversight and control over
offerings that are conducted overseas and/or foreign investment in Hong Kong-based issuers and we were to be subject to such oversight
and control, it may result in a material adverse change to our subsidiaries&rsquo; business operations, including our subsidiaries&rsquo;
operations in Hong Kong.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a company mainly conducting business in Hong
Kong, a special administrative region of China and our subsidiaries&rsquo; clients include mainland China residents, our subsidiaries&rsquo;
business and our prospects, financial condition, and results of operations may be influenced to a significant degree by political, economic,
and social conditions in China generally. The PRC government may intervene or influence the operations in mainland China of an offshore
holding company at any time, which, if extended to our subsidiaries&rsquo; operations in Hong Kong, could result in a material adverse
change to our subsidiaries&rsquo; operations. The PRC government has recently indicated an intent to exert more oversight and control
over listings conducted overseas and/or foreign investment in issuers based in mainland China. For instance, on July 6, 2021, the relevant
PRC governmental authorities promulgated the Opinions on Strictly Cracking Down on Illegal Securities Activities, which emphasized the
need to strengthen the supervision over overseas listings by companies in mainland China. We cannot assure you that the oversight will
not be extended to companies operating in Hong Kong like us and any such action may significantly limit or completely hinder our ability
to offer or continue to offer our securities to investors, result in a material adverse change to our subsidiaries&rsquo; business operations,
including our subsidiaries&rsquo; Hong Kong operations, and damage our reputation.</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><I>Our subsidiaries&rsquo; business, our financial
condition and results of operations, and/or the value of our Class A Ordinary Shares or our ability to offer or continue to offer securities
to investors may be materially and adversely affected by existing or future PRC laws and regulations which may become applicable to our
subsidiaries.</I></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">We have no operations in mainland China. However,
our operating subsidiary, or TW HK is located and operate in Hong Kong, a special administrative region of the PRC, there is no guarantee
that if certain existing or future PRC laws become applicable to our subsidiaries, it will not have a material adverse impact on our
subsidiaries&rsquo; business, financial condition and results of operations and/or our ability to offer or continue to offer securities
to investors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except for the Basic Law, National Laws do not
apply in Hong Kong unless they are listed in Annex III of the Basic Law and applied locally by promulgation or local legislation. National
Laws that may be listed in Annex III are currently limited under the Basic Law to those which fall within the scope of defense and foreign
affairs as well as other matters outside the limits of the autonomy of Hong Kong. PRC laws and regulations relating to data protection,
cyber security and the anti-monopoly have not been listed in Annex III and thus they may not apply directly to Hong Kong.</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">The PRC laws and regulations are evolving, and
their enactment timetable, interpretation and implementation involve significant uncertainties. To the extent any PRC laws and regulations
become applicable to our subsidiaries, we may be subject to the risks and uncertainties associated with the legal system in mainland
China, including with respect to the enforcement of laws and the possibility of changes of rules and regulations with little or no advance
notice.</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">We may also become subject to the PRC laws and
regulations to the extent our subsidiaries commence business and customer facing operations in mainland China as a result of any future
acquisition, expansion or organic growth. There is no guarantee that this will continue to be the case in the future in relation to the
continued listing of our securities on a securities exchange outside of the PRC, or even when such permission is obtained, it will not
be subsequently denied or rescinded. It remains uncertain as to the enactment, interpretation and implementation of regulatory requirements
related to overseas securities offering and other capital markets activities and due to the possibility that laws, regulations, or policies
in the PRC could change rapidly in the future, it remains uncertain whether the PRC government will adopt additional requirements or
extend the existing requirements to apply to our operating subsidiary located in Hong&nbsp;Kong. It is also uncertain whether the Hong&nbsp;Kong
government will be mandated by the PRC government, despite the constitutional constraints of the Basic Law, to control over offerings
conducted overseas and/or foreign investment of entities in Hong&nbsp;Kong, including our operating subsidiary. Any actions by the PRC
government to exert more oversight and control over offerings (including businesses whose primary operations are in Hong&nbsp;Kong) that
are conducted overseas and/or foreign investments in Hong&nbsp;Kong-based&nbsp;issuers could significantly limit or completely hinder
our ability to offer or continue to offer securities to investors and cause the value of our securities to significantly decline or be
worthless.</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><I>The PRC government may exert substantial
influence and discretion over mainland China residents and the manner in which companies incorporated under the PRC laws must conduct
their business activities. Through our subsidiaries, we are a Hong Kong-based company with no operations in mainland China, and mainland
China residents may purchase our subsidiaries&rsquo; product in Hong Kong. If we were to become subject to such direct influence or discretion,
it may result in a material change in our subsidiaries&rsquo; operations.</I></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">We currently have no operations in mainland China.
Our principal executive offices are located, and our subsidiaries operate, in Hong Kong, a special administrative region of China. In
addition, we do not solicit any client or collect, store or process in mainland China any personal data of any client. As of the date
of this prospectus, the PRC government has not exerted direct influence and discretion over the manner in which our subsidiaries conduct
their business activities outside of mainland China. However, there is no guarantee that we will not be subject to such direct influence
or discretion in the future due to changes in laws or other unforeseeable reasons or as a result of our expansion or acquisition of operations
in mainland China, considering our subsidiaries&rsquo; clients include residents of mainland China.</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">The legal system of mainland China is evolving
rapidly and the PRC laws, regulations, and rules may change quickly with little advance notice. In particular, because these laws, rules
and regulations are relatively new, and because of the limited number of published decisions and the non-precedential nature of these
decisions, the interpretation of these laws, rules and regulations may contain inconsistences, the enforcement of which involves uncertainties.
The PRC government may exercise substantial control over many sectors of the economy in mainland China through regulation and/or state
ownership. Government actions have had, and may continue to have, a significant effect on economic conditions in mainland China and businesses
which are subject to such government actions.</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">If we or our subsidiaries to become subject to
the direct intervention or influence of the PRC government at any time due to changes in laws or other unforeseeable reasons or as a
result of our development, expansion or acquisition of operations in mainland China, it may require a material change in our subsidiaries&rsquo;
operations and/or result in increased costs necessary to comply with existing and newly adopted laws and regulations or penalties for
any failure to comply.</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><I>Uncertainties with respect to the PRC legal
system, including uncertainties regarding the enforcement of laws, and sudden or unexpected changes in laws and regulations in China
could adversely affect us and limit the legal protections available to you and us.</I></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">The Hong Kong subsidiary was formed under and
are governed by the laws of the Hong Kong, however, we may be subject to the uncertainties of PRC legal system. The PRC legal system
is based on written statutes. Prior court decisions may be cited for reference, but have limited precedential value. In 1979, the PRC
government began to promulgate a comprehensive system of laws and regulations governing economic matters in general, such as foreign
investment, corporate organization and governance, commerce, taxation and trade. As a significant part of our business is conducted in
Hong Kong, our operations may be governed by PRC laws and regulations. However, since the PRC legal system continues to evolve rapidly,
the interpretations of many laws, regulations and rules are not always uniform and enforcement of these laws, regulations and rules involves
uncertainties, which may limit legal protections available to us. In addition, some regulatory requirements issued by certain PRC government
authorities may not be consistently applied by other PRC government authorities (including local government authorities), thus making
strict compliance with all regulatory requirements impractical, or in some circumstances impossible. For example, we may have to resort
to administrative and court proceedings to enforce the legal protection that we enjoy either by law or contract. However, since PRC administrative
and court authorities have discretion in interpreting and implementing statutory and contractual terms, it may be more difficult to predict
the outcome of administrative and court proceedings and the level of legal protection we enjoy than in more developed legal systems.
Furthermore, the PRC legal system is based in part on government policies and internal rules, some of which are not published on a timely
basis or at all and may have retroactive effect. As a result, we may not be aware of our violation of these policies and rules until
sometime after the violation. Such uncertainties, including uncertainty over the scope and effect of our contractual, property (including
intellectual property) and procedural rights, could materially and adversely affect our business and impede our ability to continue our
operations.</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">Furthermore, if China adopts more stringent standards
with respect to environmental protection or corporate social responsibilities, we may incur increased compliance costs or become subject
to additional restrictions in our operations. Intellectual property rights and confidentiality protections in China may also not be as
effective as in the United States or other countries. In addition, we cannot predict the effects of future developments in the PRC legal
system on our business operations, including the promulgation of new laws, or changes to existing laws or the interpretation or enforcement
thereof. These uncertainties could limit the legal protections available to us and our investors, including you. Moreover, any litigation
in China may be protracted and result in substantial costs and diversion of our resources and management attention.</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><I>If we and/or our subsidiaries were to be
required to comply with cybersecurity, data privacy, data protection, or any other PRC laws and regulations related to data and we and/or
our subsidiaries cannot comply with such PRC laws and regulations, our subsidiaries&rsquo; business, financial condition, and results
of operations may be materially and adversely affected.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may be subject to a variety of cybersecurity,
data privacy, data protection, and other PRC laws and regulations related to data, including those relating to the collection, use, sharing,
retention, security, disclosure, and transfer of confidential and private information, such as personal information and other data. These
laws and regulations apply not only to third-party transactions, but also to transfers of information within our organization. These
laws and regulations may restrict our subsidiaries&rsquo; business activities and require us and/or our subsidiaries to incur increased
costs and efforts to comply, and any breach or noncompliance may subject us and/or our subsidiaries to proceedings against such entity(ies),
damage our reputation, or result in penalties and other significant legal liabilities, and thus may materially and adversely affect our
subsidiaries&rsquo; business and our financial condition and results of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As the laws and regulations related to cybersecurity,
data privacy, and data protection in mainland China where our subsidiaries do not have operations are relatively new and evolving, and
their interpretation and application may be uncertain, it is still unclear if we and/or our subsidiaries may become subject to such new
laws and regulations.</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">The PRC Data Security Law, or the Data Security
Law, which was promulgated by the Standing Committee of the National People&rsquo;s Congress on June 10, 2021 and took effect on September
1, 2021, requires data collection to be conducted in a legitimate and proper manner, and stipulates that, for the purpose of data protection,
data processing activities must be conducted based on data classification and hierarchical protection system for data security. According
to Article 2 of the Data Security Law, it applies to data processing activities within the territory of mainland China as well as data
processing activities conducted outside the territory of mainland China which jeopardize the national interest or the public interest
of China or the rights and interest of any PRC organization and citizens. Any entity failing to perform the obligations provided in the
Data Security Law may be subject to orders to correct, warnings and penalties including ban or suspension of business, revocation of
business licenses or other penalties. As of the date of this prospectus, we do not have any operation or maintain any office or personnel
in mainland China, and we have not conducted any data processing activities which may endanger the national interest or the public interest
of China or the rights and interest of any Chinese organization and citizens. Therefore, we do not believe that the Data Security Law
is applicable to us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 20, 2021, the Standing Committee of
the National People&rsquo;s Congress of China promulgated the Personal Information Protection Law, which integrates the scattered rules
with respect to personal information rights and privacy protection and took effect on November 1, 2021. According to Article 3 of the
Personal Information Protection Law, it is applied not only to personal information processing activities carried out in the territory
of mainland China but also to personal information processing activities outside the mainland China for the purpose of offering products
or services to domestic natural persons in the territory of mainland China. The offending entities could be ordered to correct, or to
suspend or terminate the provision of services, and face confiscation of illegal income, fines or other penalties. As our subsidiaries&rsquo;
services are provided in Hong Kong, Cayman Islands, British Virgin Islands and the U.S. rather than in the mainland China to clients
worldwide, including but not limited to clients of mainland China who visit our offices in these locations, we take the view that we
and our subsidiaries are not subject to the Personal Information Protection Law.</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">On July 7, 2022, the Cyberspace Administration
of China (the &ldquo;CAC&rdquo;) issued the Measures for Security Assessment of Outbound Data Transfer, or the Measures, which took effect
on September 1, 2022. According to the Measures, in addition to the self-risk assessment requirement for provision of any data outside
mainland China, a data processor shall apply to the competent cyberspace department for data security assessment and clearance of outbound
data transfer in any of the following events: (i) outbound transfer of important data by a data processor; (ii) outbound transfer of
personal information by an operator of critical information infrastructure or a data processor which has processed more than one million
users&rsquo; personal data; (iii) outbound transfer of personal information by a data processor which has made outbound transfers of
more than one hundred thousand users&rsquo; personal information or more than ten thousand users&rsquo; sensitive personal information
cumulatively since January 1 of the previous year; (iv) such other circumstances where ex-ante security assessment and evaluation of
cross-border data transfer is required by the CAC. As of the date of this prospectus, we and our subsidiaries have not collected, stored,
or managed any personal information in mainland China. therefore, we believe that the Measures is not applicable to us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">However, given the recency of the issuance of
the above PRC laws and regulations related to cybersecurity and data privacy, we and our subsidiaries still face uncertainties regarding
the interpretation and implementation of these laws and regulations and we could not rule out the possibility that any PRC governmental
authorities may subject us and/or our subsidiaries to such laws and regulations in the future. If they are deemed to be applicable to
us and/or our subsidiaries, we cannot assure you that we and our subsidiaries will be compliant with such new regulations in all respects,
and we and/or our subsidiaries may be ordered to rectify and terminate any actions that are deemed illegal by the PRC governmental authorities
and become subject to fines and other government sanctions, which may materially and adversely affect our subsidiaries&rsquo; business
and our financial condition and results of operations.</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><I>If we and/or our subsidiaries were to be
required to obtain any permission or approval from or complete any filing procedure with the China Securities Regulatory Commission (the
&ldquo;CSRC&rdquo;), the CAC, or other PRC governmental authorities in connection with this offering or future follow-on offerings under
PRC laws, we and/or our subsidiaries may be fined or subject to other sanctions, and our subsidiaries&rsquo; business and our reputation,
financial condition, and results of operations may be materially and adversely affected.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Cybersecurity Review Measures jointly promulgated
by the CAC and other relevant PRC governmental authorities on December 28, 2021 required that, among others, &ldquo;critical information
infrastructure&rdquo; or network platform operators holding over one million users&rsquo; personal information to apply for a cybersecurity
review before any public offering on a foreign stock exchange. However, this regulation is recently issued and there remain substantial
uncertainties about its interpretation and implementation.</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">As of the date of this prospectus, we and our
subsidiaries do not have any business operation or maintain any office or personnel in mainland China. We and our subsidiaries have not
collected, stored, or managed any personal information in mainland China. Based on our inquiry with the China Cybersecurity Review Technology
and Certification Center (the &ldquo;CCRC&rdquo;) and the assessment conducted by the management, we believe that we and our subsidiaries
are not currently required to proactively apply to a cybersecurity review for this offering or follow-on offerings overseas, on the basis
that (i) our subsidiaries are incorporated in Hong Kong, the British Virgin Islands, and other jurisdictions outside of mainland China
and operate in Hong Kong without any subsidiary or variable interest entities (&ldquo;VIE&rdquo;) structure in mainland China, and we
do not maintain any office or personnel in mainland China; (ii) except for the Basic Law, the National Laws do not apply in Hong Kong
unless they are listed in Annex III of the Basic Law and applied locally by promulgation or local legislation, and National Laws that
may be listed in Annex III are currently limited under the Basic Law to those which fall within the scope of defense and foreign affairs
as well as other matters outside the limits of the autonomy of Hong Kong, and PRC laws and regulations relating to data protection and
cyber security have not been listed in Annex III as the date of this prospectus; (iii) our data processing activities are solely carried
out by our overseas entities outside of mainland China for the purpose of offering products or services in Hong Kong and other jurisdictions
outside of mainland China; (iv) we and our subsidiaries do not control more than one millions users&rsquo; personal information as of
the date of this prospectus; (v) as of the date of this prospectus, we and our subsidiaries have not received any notice of identifying
us as critical information infrastructure from any relevant PRC governmental authorities; (vi) as of the date of this prospectus, none
of us or our subsidiaries have been informed by any PRC governmental authority of any requirement for a cybersecurity review; and (vii)
based on our inquiry with the CCRC, the officer who provides cybersecurity review consultation service under CCRC believes that we are
currently not required to apply to a cybersecurity review for our public offerings on a foreign stock exchange with the CAC because we
neither currently have any operation in mainland China nor control more than one millions users&rsquo; personal information as of the
date of this prospectus. Additionally, we believe that we and our subsidiaries are compliant with the regulations and policies that have
been issued by the CAC to date and there was no material change to these regulations and policies. However, regulatory requirements on
cybersecurity and data security in the mainland China are constantly evolving and can be subject to varying interpretations or significant
changes, which may result in uncertainties about the scope of our responsibilities in that regard, and there can be no assurance that
the relevant PRC governmental authorities, including the CAC, would reach the same conclusion as our PRC counsel. We will closely monitor
and assess the implementation and enforcement of the Cybersecurity Review Measures. If the Cybersecurity Review Measures mandates clearance
of cybersecurity and/or data security regulators and other specific actions to be completed by companies like us, we may face uncertainties
as to whether we can meet such requirements timely, or at all.</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">On February 17, 2023, the CSRC promulgated the
Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies (the &ldquo;Trial Measures&rdquo;) and
five supporting guidelines, which took effect on March 31, 2023. The Trial Measures requires companies in mainland China that seek to
offer and list securities overseas, both directly and indirectly, to fulfill the filing procedures with the CSRC. According to the Trial
Measures, the determination of the &ldquo;indirect overseas offering and listing by companies in mainland China&rdquo; shall comply with
the principle of &ldquo;substance over form&rdquo; and particularly, an issuer will be required to go through the filing procedures under
the Trial Measures if the following criteria are met at the same time: (i) 50% or more of the issuer&rsquo;s operating revenue, total
profits, total assets or net assets as documented in its audited consolidated financial statements for the most recent accounting year
are accounted for by companies in mainland China; and (ii) the main parts of the issuer&rsquo;s business activities are conducted in
mainland China, or its main places of business are located in mainland China, or the senior managers in charge of its business operation
and management are mostly Chinese citizens or domiciled in mainland China. On the same day, the CSRC held a press conference for the
release of the Trial Measures and issued the Notice on Administration for the Filing of Overseas Offering and Listing by Domestic Companies,
which clarifies that (i) on or prior to the effective date of the Trial Measures, companies in mainland China that have already submitted
valid applications for overseas offering and listing but have not obtained approval from overseas regulatory authorities or stock exchanges
shall complete the filing before the completion of their overseas offering and listing; and (ii) companies in mainland China which, prior
to the effective date of the Trial Measures, have already obtained the approval from overseas regulatory authorities or stock exchanges
and are not required to re-perform the regulatory procedures with the relevant overseas regulatory authority or stock exchange, but have
not completed the indirect overseas listing, shall complete the overseas offering and listing before September 30,2023, and failure to
complete the overseas listing within such six-month period will subject such companies to the filing requirements with the CSRC.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on the assessment conducted by the management,
we are not subject to the Trial Measures, because we are incorporated in the Cayman Islands and our subsidiaries are incorporated in
Hong Kong, the British Virgin Islands and other regions outside of mainland China and operate in Hong Kong without any subsidiary or
VIE structure in mainland China, and we do not have any business operations or maintain any office or personnel in mainland China. However,
as the Trial Measures and the supporting guidelines are newly published, there exists uncertainty with respect to the implementation
and interpretation of the principle of &ldquo;substance over form&rdquo;. As of the date of this prospectus, there was no material change
to these regulations and policies. If this offering and future follow-on offerings, and listing were later deemed as &ldquo;indirect
overseas offering and listing by companies in mainland China&rdquo; under the Trial Measures, we may need to complete the filing procedures
for our offering and future follow-on offerings, and listing. If we are subject to the filing requirements, we cannot assure you that
we will be able to complete such filings in a timely manner or even at all.</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">Since these statements and regulatory actions
are new, it is also highly uncertain in the interpretation and the enforcement of the above cybersecurity and overseas listing laws and
regulation. There is no assurance that the relevant PRC governmental authorities would reach the same conclusion as us. If we and/or
our subsidiaries are required to obtain approval or fillings from any governmental authorities, including the CAC and/or the CSRC, in
connection with the listing or continued listing of our securities on a stock exchange outside of Hong Kong or mainland China, it is
uncertain how long it will take for us and/or our subsidiaries to obtain such approval or complete such filing, and, even if we and our
subsidiaries obtain such approval or complete such filing, the approval or filing could be rescinded. Any failure to obtain or a delay
in obtaining the necessary permissions from or complete the necessary filing procedure with the PRC governmental authorities to conduct
offerings or list outside of Hong Kong or mainland China may subject us and/or our subsidiaries to sanctions imposed by the PRC governmental
authorities, which could include fines and penalties, suspension of business, proceedings against us and/or our subsidiaries, and even
fines on the controlling shareholder and other responsible persons, and our subsidiaries&rsquo; ability to conduct our business, our
ability to invest into mainland China as foreign investments or accept foreign investments, or our ability to list on a U.S. or other
overseas exchange may be restricted, and our subsidiaries&rsquo; business, and our reputation, financial condition, and results of operations
may be materially and adversely affected.</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><I>Our Hong Kong subsidiaries may be subject
to restrictions on paying dividends or making other payments to us, which may restrict their ability to satisfy liquidity requirements,
conduct business and pay dividends to holders of our Class A Ordinary Shares.</I></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">We are a holding company incorporated in the
Cayman Islands with the majority of our operations in Hong Kong. Accordingly, most of our cash is maintained in Hong Kong dollars. We
rely in part on dividends from our Hong Kong subsidiaries for our cash and financing requirements, such as the funds necessary to service
any debt we may incur.</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">There is currently no restriction or limitation
under the laws of Hong Kong on the conversion of Hong Kong dollars into foreign currencies and the transfer of currencies out of Hong
Kong and the foreign currency regulations of mainland China do not currently have any material impact on the transfer of cash between
us and our Hong Kong subsidiaries. However, there is a possibility that certain PRC laws and regulations, including existing laws and
regulations and those enacted or promulgated in the future were to become applicable to our Hong Kong subsidiaries in the future and
the PRC government may prevent our cash maintained in Hong Kong from leaving or restrict the deployment of the cash into our business
or for the payment of dividends in the future. Any such controls or restrictions, if imposed in the future and to the extent cash is
generated in our Hong Kong subsidiaries and to the extent assets (other than cash) in our business are located in Hong Kong or held by
a Hong Kong entity and may need to be used to fund operations outside of Hong Kong, may adversely affect our ability to finance our cash
requirements, service debt or make dividend or other distributions to our shareholders. Furthermore, there can be no assurance that the
PRC government will not intervene or impose restrictions on our ability to transfer or distribute cash within our organization, which
could result in an inability or prohibition on making transfers or distributions to entities outside of Hong Kong and adversely affect
our business.</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><I>The Chinese government may intervene or
influence our Chinese supplier and its exclusive overseas agent&rsquo;s operations at any time, or may exert more control over how our
PRC-based supplier operate their business or cooperate with us. This could result in a material change in our PRC-based supplier&rsquo;s
operations and indirectly the value of our Class A Ordinary Shares.</I></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">We rely on one PRC-based sturgeon farm for our
supply of caviar, with which we entered into supplier agreement through its exclusive overseas agent. The PRC government may choose to
exercise significant oversight and discretion, and the policies, regulations, rules, and the enforcement of laws of the Chinese government
to which our PRC-based supplier and its exclusive overseas agent is subject to may change rapidly and with little advance notice. As
a result, the application, interpretation, and enforcement of new and existing laws and regulations in the PRC are often uncertain. In
addition, these laws and regulations may be interpreted and applied inconsistently by different agencies or authorities, and may be inconsistent
with our supplier or its exclusive overseas agent&rsquo;s current policies and practices. New laws, regulations, and other government
directives in the PRC may also be costly to comply with, and such compliance or any associated inquiries or investigations or any other
government actions may:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delay or impede our supplier&rsquo;s
    development;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">result in negative publicity
    or increase our supplier&rsquo;s operating costs;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">require significant management
    time and attention; and/or</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">subject us to remedies,
    administrative penalties and even criminal liabilities that may harm our supplier&rsquo;s business, including fines assessed for
    our supplier&rsquo;s current or historical operations, or demands or orders that our supplier modifies or even ceases their business
    practices.</FONT></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; text-align: justify">The PRC government initiated a series of regulatory
actions and statements to regulate business operations in certain areas in China with little advance notice, including cracking down
on illegal activities in the securities market, enhancing supervision over China-based companies listed overseas using a variable interest
entity (&ldquo;VIE&rdquo;) structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts in
anti-monopoly enforcement. These regulatory actions and statements emphasize the need to strengthen the administration over illegal securities
activities and the supervision of China-based companies seeking overseas listings. Additionally, companies are required to undergo a
cybersecurity review if they hold large amounts of data related to issues of national security, economic development or public interest
before carrying our mergers, restructuring or splits that affect or may affect national security. These statements were recently issued
and their official guidance and interpretation remain unclear at this time.</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">The PRC government may intervene or influence
our PRC-based supplier&rsquo;s operations at any time and may exert more control over offerings conducted overseas and foreign investment
in China-based companies, which may result in a material change in our PRC-based operations. Any legal or regulatory changes that restrict
or otherwise unfavorably impact our PRC-based supplier&rsquo;s ability to conduct their business could decrease demand for their services,
reduce revenues, increase costs, require them to obtain more licenses, permits, approvals or certificates, or subject them to additional
liabilities. To the extent any new or more stringent measures are implemented, our supplier&rsquo;s and our business, financial condition
and results of operations could be adversely affected, and the value of our Class A Ordinary Shares could decrease or become worthless.</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><I>The Hong Kong legal system embodies uncertainties
which could limit the legal protections available to our Operating Subsidiary.</I></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">Hong Kong is a Special Administrative Region
of the PRC. Following British colonial rule from 1842 to 1997, China assumed sovereignty under the &ldquo;one country, two systems&rdquo;
principle. The Hong Kong Special Administrative Region&rsquo;s constitutional document, the Basic Law, ensures that the current principles
and policies regarding Hong Kong will remain unchanged for 50 years. Hong Kong has enjoyed the freedom to function with a high degree
of autonomy for its affairs, including currencies, immigration and customs operations, and its independent judiciary system.</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">On July 14, 2020, the President of the U.S.,
Mr. Donald Trump, signed the Hong Kong Autonomy Act and an executive order to remove the preferential trade status of Hong Kong, pursuant
to &sect; 202 of the United States-Hong Kong Policy Act of 1992. The U.S. government has determined that Hong Kong is no longer sufficiently
autonomous to justify preferential treatment in relation to the PRC, especially with the issuance of the Law of the People&rsquo;s Republic
of China on Safeguarding National Security in the Hong Kong Special Administrative Region (the &ldquo;Hong Kong National Security Law&rdquo;)
on July 1, 2020. Hong Kong will now be treated as mainland China, in terms of visa application, academic exchange, tariffs and trading,
etc. According to &sect; 3(c) of the executive order issued on July 14, 2020, the license exception for exports and re-exports to Hong
Kong and transfer within the PRC is revoked, while exports of defense items are banned. On the other hand, the existing punitive tariffs
the U.S. imposed on the mainland China will also be applied to Hong Kong exports. Losing its special status, Hong Kong&rsquo;s competitiveness
as a food trading hub may deteriorate in the future as its tax benefits as a result of preferential situation no longer exists and companies
might prefer exporting through other cities. The level of activities of domestic exports and re-exports and other trading activities
in Hong Kong may decline owing to the tariff being imposed on Hong Kong exports and the export restriction. In the event that Hong Kong
loses its position as a food trading hub in Asia, the demand for food export or re-export from Hong Kong and thus our business, financial
conditions and results of operations, may be adversely affected. According to the Hong Kong Policy Act Report issued by the Department
of State in 2021, 2022 and 2023, since July 2020, the suspension of an agreement concerning surrender of fugitive offenders and the terminations
of an agreement concerning transfer of sentenced persons and an agreement concerning certain reciprocal tax exemptions, there were no
terminations pursuant to &sect; 202(d) of the United States-Hong Kong Policy Act of 1992 or determinations under &sect; 201(b) up to
the date of this prospectus. The executive order to remove the preferential trade status of Hong Kong remains in effect. Since July 2020
and as of the date of this prospectus, the removal of the preferential trade status of Hong Kong did not have a material impact on our
business and operations.</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><I>Amid the ongoing tariff war between the
United States and China as of the date of this prospectus, the Trump administration might proceed toward a removal of Chinese companies
from American stock exchanges. Our shares may be prohibited from being traded on a national securities exchange or in the over-the-counter
trading market in the United States, which will materially and adversely affect the value of your investment.</I></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">Rising political tensions could reduce levels
of trades, investments, technological exchanges, and other economic activities between the two major economies. Besides, China is also
facing the challenges of technological blockade and the economic decoupling between the U.S. and China. Any of these factors could have
a material adverse effect on our business, prospects, financial condition and results of operations. Such tensions between the United
States and China, and any escalation thereof, may have a negative impact on the general, economic, political, and social conditions in
China.</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">Current and future actions or escalations by
either United States or China that affect trade relations may cause global economic turmoil and potentially have a negative impact on
our business, financial condition and results of operations, and we cannot provide any assurance as to whether such actions will occur
or the form that they may take. Amid the ongoing tariff war between the United States and China as of the date of this prospectus, the
Trump administration might proceed toward a removal of Chinese companies from American stock exchanges. Our shares may be prohibited
from being traded on a national securities exchange or in the over-the-counter trading market in the United States, which will materially
and adversely affect the value of your investment.</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><I>The current trade tension between the U.S.
and the PRC may potentially have a negative impact on our business, financial condition and results of operations.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The U.S. government has imposed, and has proposed
to impose additional, new or higher tariffs on specified products imported from PRC to penalize PRC for what it characterizes as unfair
trade practices. PRC has responded by imposing, and proposing to impose additional, new or higher tariffs on specified products imported
from the U.S. Certain tariffs have already been adopted by both sides, and the two countries often meet to negotiate arrangements that
would include the decreasing or removal of tariffs, but we cannot assure you that the negotiations will be successful in reducing tariffs
or that other tariffs will not be imposed, even if an agreement will be reached. In addition, any further escalation in trade tensions
between PRC and the United States or a trade war, or the perception that such escalation or trade war could occur, may have negative
impact on the economies of not only the two countries concerned, but the global economy as a whole.</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although we are currently not subject to any
of those tariff measures, the proposed tariffs may adversely affect the economic growth in mainland China, Hong Kong and other markets
in which we operate, as well as the financial condition of our customers. With the potential decrease in the spending power of our target
customers, we cannot guarantee that there will be no negative impact on our operations. In addition, the current and future actions or
escalations by either the U.S. or PRC that affect trade relations may cause global economic turmoil and potentially have a negative impact
on our business, financial condition and results of operations, and we cannot provide any assurance as to whether such actions will occur
or the form that they may take.</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><I>Changes and the downturn in the economic,
political, or social conditions of Hong&nbsp;Kong, mainland China and other countries or changes to the government policies of Hong&nbsp;Kong
and mainland China could have a material adverse effect on our business and operations.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our operations are located in Hong&nbsp;Kong.
Accordingly, our business, prospects, financial condition and results of operations may be influenced to a significant degree by political,
economic and social conditions in Hong&nbsp;Kong and mainland China generally. Economic conditions in Hong&nbsp;Kong are sensitive to
mainland China and the global economic conditions. Any major changes to Hong&nbsp;Kong&rsquo;s social and political landscape will have
a material impact on our business.</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">The mainland China economy differs from the economies
of most developed countries in many respects, including the amount of government involvement, level of development, growth rate, control
of foreign exchange and allocation of resources. While the economy in the mainland China has experienced significant growth over the
past decades, growth has been uneven, both geographically and among various sectors of the economy. The PRC government has implemented
various measures to encourage economic growth and guide the allocation of resources. Some of these measures may benefit the overall Chinese
economy but may have a negative effect on Hong&nbsp;Kong and us.</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">Furthermore, on July&nbsp;14, 2020, the former
President of the U.S., Mr.&nbsp;Donald Trump, signed the Hong&nbsp;Kong Autonomy Act and an executive order to remove the preferential
trade status of Hong&nbsp;Kong, pursuant to &sect; 202 of the United&nbsp;States-Hong&nbsp;Kong Policy Act&nbsp;of&nbsp;1992. The U.S.&nbsp;government
has determined that Hong&nbsp;Kong is no longer sufficiently autonomous to justify preferential treatment in relation to the PRC, especially
with the issuance of the Law of the People&rsquo;s Republic of China on Safeguarding National Security in the Hong&nbsp;Kong Special
Administrative Region (the &ldquo;Hong&nbsp;Kong National Security Law&rdquo;) on July&nbsp;1, 2020. Hong&nbsp;Kong will now be treated
as mainland China, in terms of visa application, academic exchange, tariffs and trading, etc. According to &sect; 3(c)&nbsp;of the executive
order issued on July&nbsp;14, 2020, the license exception for exports and re-exports&nbsp;to Hong&nbsp;Kong and transfer within the PRC
is revoked, while exports of defense items are banned. On the other hand, the existing punitive tariffs the U.S.&nbsp;imposed on the
mainland China will also be applied to Hong&nbsp;Kong exports. Losing its special status, Hong&nbsp;Kong&rsquo;s competitiveness as a
food trading hub may deteriorate in the future as its tax benefits as a result of preferential situation no longer exists and companies
might prefer exporting through other cities. The level of activities of domestic exports and re-exports&nbsp;and other trading activities
in Hong&nbsp;Kong may decline owing to the tariff being imposed on Hong&nbsp;Kong exports and the export restriction.</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">In the event that Hong&nbsp;Kong loses its position
as a food trading hub in Asia, the demand for food export or re-export&nbsp;from Hong&nbsp;Kong and thus our business, financial conditions
and results of operations, may be adversely affected. According to the Hong Kong Policy Act Report issued by the Department of State
in 2021, 2022 and 2023, since July 2020, the suspension of an agreement concerning surrender of fugitive offenders and the terminations
of an agreement concerning transfer of sentenced persons and an agreement concerning certain reciprocal tax exemptions, there were no
terminations pursuant to &sect; 202(d) of the United States-Hong&nbsp;Kong Policy Act of 1992 or determinations under &sect; 201(b) up
to the date of this registration statement. The executive order to remove the preferential trade status of Hong Kong remains in effect.
Since July 2020 and as of the date of this registration statement, the removal of the preferential trade status of Hong Kong did not
have a material impact on our business and operations.</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>



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

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Additionally, the outbreak of war in Ukraine
in 2022 has already affected global economic markets, and the uncertain resolution of this conflict could result in protracted and/or
severe damage to the global economy. Russia&rsquo;s recent military interventions in Ukraine have led to, and may lead to, additional
sanctions being levied by the United&nbsp;States, European Union and other countries against Russia. The extent and duration of the military
action, sanctions, and resulting market disruptions are impossible to predict, but could be substantial. Any such disruptions caused
by Russian military action or resulting sanctions may magnify the impact of other risks described in this section. We cannot predict
the progress or outcome of the situation in Ukraine, as the conflict and governmental reactions are rapidly developing and beyond their
control. Prolonged unrest, intensified military activities, or more extensive sanctions impacting the region could have a material adverse
effect on the global economy, and such effect could in turn have a material adverse effect on the operations, results of operations,
financial conditions, liquidity and business outlook of our business.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Risks Related to this Offering </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Purchasers who purchase our securities
in this offering pursuant to a securities purchase agreement may have rights not available to purchasers that purchase without the benefit
of a securities purchase agreement.</I></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; text-align: justify">In addition to rights and remedies available
to all purchasers in this offering under federal securities and state law, the purchasers that enter into a securities purchase agreement
will also be able to bring claims of breach of contract against us. The ability to pursue a claim for breach of contract provides those
investors with the means to enforce the covenants uniquely available to them under the securities purchase agreement including: (i) timely
delivery of securities; (ii) agreement to not enter into variable rate financings for one (1) year from closing, subject to certain exceptions;
(iii) agreement to not enter into any financings for forty-five (45) days from closing, subject to certain exceptions; and (iv) indemnification
for breach of contract.</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; text-align: justify"><B><I>This is a reasonable best efforts offering,
with no minimum amount of Securities required to be sold, and we may not raise the amount of capital we believe is required for our business
plans, including our near-term business plans, nor will investors in this offering receive a refund in the event that we do not sell
an amount of Securities sufficient to pursue the business goals outlined in this prospectus.</I></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; text-align: justify">The Placement Agent has agreed to use its reasonable
best efforts to solicit offers to purchase the Securities in this offering. The Placement Agent has no obligation to buy any of the Securities
from us or to arrange for the purchase or sale of any specific number or dollar amount of the Securities. We may sell fewer than all
of the Securities offered hereby, which may significantly reduce the amount of proceeds received by us, and investors in this offering
will not receive a refund in the event that we do not sell an amount of Securities sufficient to support our business goals and continued
operations, including our near-term continued operations. Thus, we may not raise the amount of capital we believe is required for our
operations in the short-term and may need to raise additional funds to complete such short-term operations. Such additional capital may
not be available or available on terms acceptable to us, or at all.</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; text-align: justify">There is no required minimum number of Securities
that must be sold as a condition to completion of this offering, and we have not, nor will we, establish an escrow account in connection
with this offering. Because there is no minimum offering amount required as a condition to the closing of this offering, the actual offering
amount, the Placement Agent fees and proceeds to us are not presently determinable and may be substantially less than the maximum amounts
set forth herein. Because there is no escrow account and no minimum offering amount, investors could be in a position where they have
invested in us, but we are unable to fulfill our objectives due to a lack of interest in this offering. Further, because there is no
escrow account in operation and no minimum investment amount, any proceeds from the sale of Securities offered by us will be available
for our immediate use, despite uncertainty about whether we would be able to use such funds to effectively implement our business plan.
Investor funds will not be returned under any circumstances whether during or after the offering.</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><I>Our management has broad discretion to
determine how to use the funds raised in this offering and may use them in ways that may not enhance our results of operations or the
price of our Class A Ordinary Shares.</I></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">To the extent (i) we raise more money than required
for the purposes explained in the section titled &ldquo;Use of Proceeds&rdquo; or (ii) we determine that the proposed uses set forth
in that section are no longer in the best interests of our Company, we cannot specify with any certainty the particular uses of such
net proceeds that we will receive from our public offering. Our management will have broad discretion in the application of such net
proceeds, including working capital, possible acquisitions, and other general corporate purposes, and we may spend or invest these proceeds
in a way with which our shareholders disagree. The failure by our management to apply these funds effectively could harm our business
and financial condition, fail to improve our results of operations, and/or fail to enhance the market price of our Class A Ordinary Shares.
Pending their use, we may invest the net proceeds from our public offering in a manner that does not produce income or that loses value.
As of the date of this prospectus, our management has not determined the types of businesses that the Company will target or the terms
of any potential acquisition.</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><I>There is no public market for the Class A Warrants sold in
this offering.</I></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; text-align: justify">There
                                            is no established public trading market for the Class A Warrants being sold in this offering.
                                            We will not list the Class A Warrants on any securities exchange or nationally recognized
                                            trading system, including Nasdaq. Therefore, we do not expect a market to ever develop for
                                            the Class A Warrants. Without an active market, the liquidity of the Class Warrants will
                                            be limited.</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; text-align: justify"><B><I>The Class A Warrants are speculative
in nature. Holders of the Class A Warrants offered hereby will have no rights as Class A Ordinary Shareholders with respect to Class
A Ordinary Shares underlying such warrants until such holders exercise their warrants and acquire our Class A Ordinary Shares, except
as otherwise provided in the Class A Warrants.</I></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; text-align: justify">The
                                            Class A Warrants do not confer any rights of Class A Ordinary Share ownership on their holders,
                                            such as voting rights or the right to receive dividends, but merely represent the right to
                                            acquire Class A Ordinary Shares at a fixed price. Commencing on the date of issuance, holders
                                            of the Class A Warrants may exercise their right to acquire the underlying Class A Ordinary
                                            Shares and pay the respective stated warrant exercise price per Class A Ordinary Share. Following
                                            this offering, the market value of the Class A Warrants is uncertain and there can be no
                                            assurance that the market value of the Class A Warrants, if any, will equal or exceed their
                                            combined public offering prices. There can be no assurance that the market price of the Class
                                            A Ordinary Shares will ever equal or exceed the exercise price of the Class A Warrants, and
                                            consequently, whether it will ever be profitable for holders of Class A Warrants to exercise
                                            the Class A Warrants.</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; text-align: justify">Until
                                            holders of the Class A Warrants acquire Class A Ordinary Shares upon exercise thereof, holders
                                            of such Class A Warrants will have no rights with respect to Class A Ordinary Shares, except
                                            as provided in the Class A Warrants. Upon exercise of the Class A Warrants, such holders
                                            will be entitled to the rights of a Class A Ordinary Shareholder only as to matters for which
                                            the record date occurs after the exercise date.</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; text-align: justify"><B><I>We have broad discretion in how we use
the net proceeds of this offering, and we may not use these proceeds effectively or in ways with which you agree.</I></B></P>

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

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Our management will have broad discretion as
to the application of the net proceeds of this offering and could use them for purposes other than those contemplated at the time of
the offering. We currently intend to use the net proceeds, if any, from this offering for working capital and general corporate purposes.
Our shareholders may not agree with the manner in which our management chooses to allocate and spend the net proceeds. Moreover, our
management may use the net proceeds for corporate purposes that may not increase the market price of our Class A Ordinary Shares or other
securities. See the section of this prospectus titled &ldquo;Use of Proceeds&rdquo; on page 39.</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; text-align: justify"><B><I>Risks Related to our Class A Ordinary Shares</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Short selling may drive down the market
price of our Class A Ordinary Shares.</I></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">Short selling is the practice of selling shares
that the seller does not own but rather has borrowed from a third party with the intention of buying identical shares back at a later
date to return to the lender. The short seller hopes to profit from a decline in the value of the shares between the sale of the borrowed
shares and the purchase of the replacement shares, as the short seller expects to pay less in that purchase than it received in the sale.
As it is in the short seller&rsquo;s interest for the price of the shares to decline, many short sellers publish, or arrange for the
publication of, negative opinions and allegations regarding the relevant issuer and its business prospects in order to create negative
market momentum and generate profits for themselves after selling the shares short. These short attacks have, in the past, led to selling
of shares in the market. If we were to become the subject of any unfavorable publicity, whether such allegations are proven to be true
or untrue, we would have to expend a significant amount of resources to investigate such allegations and/or defend ourselves. While we
would strongly defend against any such short seller attacks, we may be constrained in the manner in which we can proceed against the
relevant short seller by principles of freedom of speech, applicable state law or issues of commercial confidentiality.</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><I>Our dual-class share structure with different
voting rights will limit your ability to influence corporate matters and could discourage others from pursuing any change of control
transactions that holders of our Class A ordinary shares may view as beneficial.</I></B></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">We have a dual-class share structure such that
our Ordinary Shares consist of Class A Ordinary Shares and Class B Ordinary Shares with disparate voting powers. In respect of matters
requiring the votes of shareholders, holders of Class A Ordinary Shares will be entitled to one vote per share, while holders of Class
B ordinary shares will be entitled to thirty (30) votes per share based on our dual-class share structure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<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">Through Winwin Development Group Limited, Mr. Kim Kwan Kings, WONG
owned 57,334 Class A Ordinary Shares, representing approximately 9.88% of our issued and outstanding 580,029 Class A Ordinary Shares and
owned 166,667 Class B Ordinary Shares, representing 100% of our issued and outstanding 166,667 Class B Ordinary Shares, and representing
90.63% voting rights as of the date of this prospectus and 80.27% voting rights after this offering, based on 720,000 Class A Ordinary
Shares offered at a combined public offering price of $7.00 per Class A Ordinary Share. As a result of the dual-class share structure
and the concentration of ownership, holders of Class B Ordinary Shares will have considerable influence over matters such as decisions
regarding amendment of organizational documents, mergers and consolidations, election of directors and other significant corporate actions.
Such holders may take actions that are not in the best interest of us or our other shareholders. This concentration of ownership may discourage,
delay or prevent a change in control of our company, which could have the effect of depriving our other shareholders of the opportunity
to receive a premium for their Class A Ordinary Shares as part of a sale of our company and may reduce the price of our Class A Ordinary
Shares. This concentrated control will limit your ability to influence corporate matters and could discourage others from pursuing any
potential merger, takeover or other change of control transactions that holders of Class A ordinary shares may view as beneficial.</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 STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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><I>The dual-class structure of our shares
may adversely affect the trading market for our Class A Ordinary Shares.</I></B></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">S&amp;P Dow Jones and FTSE Russell have announced
changes to their eligibility criteria for inclusion of shares of public companies on certain indices, including the S&amp;P 500, to exclude
companies with multiple classes of shares and companies whose public shareholders hold no more than 5% of total voting power from being
added to such indices. In addition, several shareholder advisory firms have announced their opposition to the use of multiple class structures.
As a result, the dual class structure of our shares may prevent the inclusion of Class A Ordinary Shares in such indices and may cause
shareholder advisory firms to publish negative commentary about our corporate governance practices or otherwise seek to cause us to change
our capital structure. Any such exclusion from indices could result in a less active trading market for our Class A Ordinary Shares.
Any actions or publications by shareholder advisory firms critical of our corporate governance practices or capital structure could also
adversely affect the value of our Class A Ordinary Shares.</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><I>We are a &ldquo;controlled company&rdquo;
within the meaning of the Nasdaq Stock Market Rules and, as a result, may rely on exemptions from certain corporate governance requirements
that provide protection to shareholders of other companies.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are, and will continue to be, a &ldquo;controlled
company&rdquo; as defined under corporate governance rules of Nasdaq Stock Market, because Mr. Kim Kwan Kings, WONG, our CEO and Chairman
of the Board, beneficially owned approximately 12.59% of our issued and outstanding Class A Ordinary Shares and 100% of our issued and
outstanding Class B Ordinary Shares, representing 92.70% voting rights as of the date of this prospectus.</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">Under the Nasdaq Listing Rules, a company of
which more than 50% of the voting power is held by an individual, group, or another company is a &ldquo;controlled company&rdquo; and
is permitted to elect to rely, and may rely, on certain exemptions from the obligation to comply with certain corporate governance requirements,
including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            requirement that our director nominees must be selected or recommended solely by independent
                                            directors; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&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="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            requirement that we have a corporate governance and nominating committee that is composed
                                            entirely of independent directors with a written charter addressing the committee&rsquo;s
                                            purpose and responsibilities.</FONT></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; text-align: justify">Although we do not intend to rely on the &ldquo;controlled
company&rdquo; exemptions under the Nasdaq Listing Rules even if we are deemed to be a &ldquo;controlled company,&rdquo; we could elect
to rely on these exemptions in the future. If we were to elect to rely on the &ldquo;controlled company&rdquo; exemptions, a majority
of the members of our board of directors might not be independent directors and our nominating and corporate governance and compensation
committees might not consist entirely of independent directors. Accordingly, if we rely on the exemptions, during the period we remain
a controlled company and during any transition period following a time when we are no longer a controlled company, you would not have
the same protections afforded to shareholders of companies that are subject to all of the corporate governance requirements of Nasdaq.</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><I>Our controlling shareholders have substantial
influence over and our interests may not be aligned with the interests of our other shareholders.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this prospectus, Mr. Kim Kwan
Kings, WONG, our CEO and Chairman, beneficially owned approximately 12.59% of our issued and outstanding Class A Ordinary Shares and
100% of our issued and outstanding Class B Ordinary Shares, representing 92.70% voting rights as of the date of this prospectus. Kim
Kwan Kings, WONG has substantial influence over our business, including decisions regarding mergers, consolidations, the sale of all
or substantially all of our assets, election of directors, declaration of dividends and other significant corporate actions. As a controlling
shareholder, Kim Kwan Kings, WONG may take actions that are not in the best interests of our other shareholders. These actions may be
taken in many cases even if they are opposed by our other shareholders. In addition, this concentration of ownership may discourage,
delay or prevent a change in control which could deprive you of an opportunity to receive a premium for your securities as part of a
sale of our Company.</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><I>The PCAOB may be unable to inspect or fully
investigate our auditors as required under the Holding Foreign Companies Accountable Act, or the HFCAA, as amended. If the PCAOB is unable
to conduct such inspections for two consecutive years, the SEC will prohibit the trading of our shares. The delisting of our shares,
or the threat of their being delisted, may materially and adversely affect the value of your investment. Additionally, the inability
of the PCAOB to conduct inspections of our auditors would deprive our investors of the benefits of such inspections.</I></B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 21, 2020, SEC Chairman Jay Clayton and
PCAOB Chairman William D. Duhnke III, along with other senior SEC staff, released a joint statement highlighting the risks associated
with investing in companies based in or have substantial operations in emerging markets including China. The joint statement emphasized
the risks associated with lack of access for the PCAOB to inspect auditors and audit work papers in China and higher risks of fraud in
emerging markets.</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="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 18, 2020, Nasdaq filed three proposals
with the SEC to (i) apply a minimum offering size requirement for companies primarily operating in a &ldquo;Restrictive Market&rdquo;,
(ii) adopt a new requirement relating to the qualification of management or board of directors for Restrictive Market companies, and
(iii) apply additional and more stringent criteria to an applicant or listed company based on the qualifications of the company&rsquo;s
auditors.</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">On May 20, 2020, the U.S. Senate passed the Holding
Foreign Companies Accountable Act (&ldquo;HFCAA&rdquo;), requiring a foreign company to certify it is not owned or controlled by a foreign
government if the PCAOB is unable to audit specified reports because the company uses a foreign auditor not subject to PCAOB inspection.
If the PCAOB is unable to inspect the company&rsquo;s auditors for three consecutive years, the issuer&rsquo;s securities are prohibited
to trade on a national securities exchange or in the over-the-counter trading market in the U.S. On December 2, 2020, the U.S. House
of Representatives approved the HFCAA. On December 18, 2020, the HFCAA was signed into law.</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">On March 24, 2021, the SEC announced that it
had adopted interim final amendments to implement congressionally mandated submission and disclosure requirements of the HFCAA. The interim
final amendments will apply to registrants that the SEC identifies as having filed an annual report on Forms 10-K, 20-F, 40-F or N-CSR
with an audit report issued by a registered public accounting firm that is located in a foreign jurisdiction and that the PCAOB has determined
it is unable to inspect or investigate completely because of a position taken by an authority in that jurisdiction. The SEC will implement
a process for identifying such a registrant and any such identified registrant will be required to submit documentation to the SEC establishing
that it is not owned or controlled by a governmental entity in that foreign jurisdiction, and will also require disclosure in the registrant&rsquo;s
annual report regarding the audit arrangements of, and governmental influence on, such a registrant.</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">On June 22, 2021, the U.S. Senate passed the
Accelerating Holding Foreign Companies Accountable Act (&ldquo;AHFCAA&rdquo;), which was signed into law on December 29, 2022, amending
the HFCAA and requiring the SEC to prohibit an issuer&rsquo;s securities from trading on any U.S. stock exchange if its auditor is not
subject to PCAOB inspections for two consecutive years instead of three consecutive years.</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">On September 22, 2021, the PCAOB adopted a final
rule implementing the HFCAA, which provides a framework for the PCAOB to use when determining, as contemplated under the HFCAA, whether
the PCAOB is unable to inspect or investigate completely registered public accounting firms located in a foreign jurisdiction because
of a position taken by one or more authorities in that jurisdiction.</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">On December 2, 2021, the SEC issued amendments
to finalize rules implementing the submission and disclosure requirements in the HFCAA. The rules apply to registrants that the SEC identifies
as having filed an annual report with an audit report issued by a registered public accounting firm that is located in a foreign jurisdiction
and that PCAOB is unable to inspect or investigate completely because of a position taken by an authority in foreign jurisdictions.</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">On December 16, 2021, the PCAOB issued a report
on its determinations that it is unable to inspect or investigate completely PCAOB-registered public accounting firms headquartered in
mainland China and in Hong Kong, because of positions taken by PRC authorities in those jurisdictions, which determinations were vacated
on December 15, 2022.</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">On August 26, 2022, the PCAOB announced that
it had signed a Statement of Protocol (the &ldquo;SOP&rdquo;) with the China Securities Regulatory Commission and the Ministry of Finance
of China. The SOP, together with two protocol agreements governing inspections and investigations (together, the &ldquo;SOP Agreement&rdquo;),
establishes a specific, accountable framework to make possible complete inspections and investigations by the PCAOB of audit firms based
in mainland China and Hong Kong, as required under U.S. law.</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">On December 15, 2022, the PCAOB announced that
it was able to secure complete access to inspect and investigate PCAOB-registered public accounting firms headquartered in mainland China
and Hong Kong completely in 2022. The PCAOB Board vacated its previous 2021 determinations that the PCAOB was unable to inspect or investigate
completely registered public accounting firms headquartered in mainland China and Hong Kong. However, whether the PCAOB will continue
to be able to satisfactorily conduct inspections of PCAOB-registered public accounting firms headquartered in mainland China and Hong
Kong is subject to uncertainties and depends on a number of factors out of our and our auditor&rsquo;s control. The PCAOB continues to
demand complete access in mainland China and Hong Kong moving forward and is making plans to resume regular inspections in early 2023
and beyond, as well as to continue pursuing ongoing investigations and initiate new investigations as needed. The PCAOB has also indicated
that it will act immediately to consider the need to issue new determinations with the HFCAA if needed.</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; text-align: justify">We have engaged Audit Alliance LLP as our current
auditor. Audit Alliance LLP is headquartered in Singapore and registered with the PCAOB. Audit Alliance LLP is subject to the laws in
the United States, which enable the PCAOB to conduct regular inspections to assess the firm&rsquo;s compliance with the relevant professional
standards. Our previous auditor, Onestop Assurance PAC, is a firm headquartered in Singapore and registered with the PCAOB, is subject
to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess our auditor&rsquo;s compliance with the
applicable professional standards. As of the date of this prospectus, our current and previous auditors are not subject to the PCAOB
determinations.<B><I>&nbsp;</I></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; text-align: justify">Our ability to retain an auditor subject to PCAOB
inspection and investigation, including but not limited to inspection of the audit working papers related to us, may depend on the relevant
positions of U.S. and Chinese regulators. With respect to audits of companies with operations in China, such as the Company, there are
uncertainties about the ability of our auditor to fully cooperate with a request by the PCAOB for audit working papers in China without
the approval of Chinese authorities. Whether the PCAOB will be able to conduct inspections of our auditor, including but not limited
to inspection of the audit working papers related to us, in the future is subject to substantial uncertainty and depends on a number
of factors out of our, and our auditor&rsquo;s, control. If our shares and shares are prohibited from trading in the United States, there
is no certainty that we will be able to list on a non-U.S. exchange or that a market for our shares will develop outside of the United
States. Such a prohibition would substantially impair your ability to sell or purchase our shares when you wish to do so, and the risk
and uncertainty associated with delisting would have a negative impact on the price of our shares. Also, such a prohibition would significantly
affect our ability to raise capital on terms acceptable to us, or at all, which would have a material adverse impact on our business,
financial condition, and prospects.</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><I>The trading price of our Class A Ordinary
Shares may be volatile, which could result in substantial losses to you.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The trading price of our Class A Ordinary Shares
is likely to be volatile and could fluctuate widely due to factors beyond our control. This may happen due to broad market and industry
factors, such as performance and fluctuation in the market prices or underperformance or deteriorating financial results of other listed
companies based in Hong Kong and mainland China. The securities of some of these companies have experienced significant volatility since
their initial public offerings, including, in some cases, substantial price declines in the trading price of their securities. The trading
performances of other Hong Kong and Chinese companies&rsquo; securities after their offerings may affect the attitudes of investors towards
Hong Kong-based, U.S.-listed companies, which consequently may affect the trading performance of our Class A Ordinary Shares, regardless
of our actual operating performance. In addition, any negative news or perceptions about inadequate corporate governance practices or
fraudulent accounting, corporate structure or matters of other Hong Kong and Chinese companies may also negatively affect the attitudes
of investors towards Hong Kong and Chinese companies in general, including us, regardless of whether we have conducted any inappropriate
activities. Furthermore, securities markets may from time to time experience significant price and volume fluctuations that are not related
to our operating performance, which may have a material and adverse effect on the trading price of our Class A Ordinary Shares.</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">In addition to the above factors, the price and
trading volume of our Class A Ordinary Shares may be highly volatile due to multiple factors, including the following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">political, social and economic conditions in mainland China and Hong
    Kong;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">variations in our revenue, profit, and cash flow;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the operating and stock price performance of other companies, other
    industries and other events or factors beyond our control;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">fluctuations of exchange rates among HKD, RMB, and USD;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">general market conditions or other developments affecting us or the
    caviar industry in which we operate;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">actual or anticipated fluctuations in our results of operations and
    changes or revisions of our expected results;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">changes in financial estimates or recommendations by securities research
    analysts;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">detrimental negative publicity about us, our services, our officers,
    directors, Controlling Shareholders, other beneficial owners, our business partners, or our industry;</FONT></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"></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">announcements by us or our competitors of new product offerings, acquisitions,
    strategic relationships, joint ventures, capital raisings or capital commitments;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">additions to or departures of our senior management;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">litigation or regulatory proceedings involving us, our officers, Directors,
    or Controlling Shareholders;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">developments in information technology and our capability to catch
    up with the technology innovations in the industry;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the realization of any of the other risk factors presented in this
    prospectus;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">changes in investors&rsquo; perception of our Company and the investment
    environment generally;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the liquidity of the market for our Class A Ordinary Shares;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">release or expiry of lock-up or other transfer restrictions on our
    outstanding Class A Ordinary Shares; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">sales or perceived potential sales of additional Class A Ordinary Shares.</FONT></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; text-align: justify">Any of these factors may result in large and
sudden changes in the volume and price at which our Class A Ordinary Shares will be traded.</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">Recently, there have been instances of extreme
stock price run-ups followed by rapid price declines and strong stock price volatility with a number of recent initial public offerings,
especially among companies with relatively smaller public floats. As a relatively small-capitalization company with relatively small
public float, we may experience greater stock price volatility, extreme price run-ups, lower trading volume and less liquidity than large-capitalization
companies. In particular, our Class A Ordinary Shares may be subject to rapid and substantial price volatility, low volumes of trades
and large spreads in bid and ask prices. Such volatility, including any stock-run up, may be unrelated to our actual or expected operating
performance, financial conditions or prospects, making it difficult for prospective investors to assess the rapidly changing value of
our Class A Ordinary Shares.</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">In addition, if the trading volumes of our Class
A Ordinary Shares are low, persons buying or selling in relatively small quantities may easily influence prices of our Class A Ordinary
Shares. This low volume of trades could also cause the price of our Class A Ordinary Shares to fluctuate greatly, with large percentage
changes in price occurring in any trading day session. Holders of our Class A Ordinary Shares may also not be able to readily liquidate
their investment or may be forced to sell at depressed prices due to low volume trading. Broad market fluctuations and general economic
and political conditions may also adversely affect the market price of our Class A Ordinary Shares. As a result of this volatility, investors
may experience losses on their investment in our Class A Ordinary Shares. A decline in the market price of our Class A Ordinary Shares
also could adversely affect our ability to issue additional shares of Class A Ordinary Shares or other securities and our ability to
obtain additional financing in the future. No assurance can be given that an active market in our Class A Ordinary Shares will develop
or be sustained. If an active market does not develop, holders of our Class A Ordinary Shares may be unable to readily sell the shares
they hold or may not be able to sell their shares at all.</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">In the past, shareholders of public companies
have often brought securities class action suits against those companies following periods of instability in the market price of their
securities. If we were involved in a class action suit, it could divert a significant amount of our management&rsquo;s attention and
other resources from our business and operations and require us to incur significant expenses to defend the suit, which could harm our
results of operations. Any such class action suit, whether or not successful, could harm our reputation and restrict our ability to raise
capital in the future. In addition, if a claim is successfully made against us, we may be required to pay significant damages, which
could have a material adverse effect on our financial conditions and results of operations.</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><I>Our Class A Ordinary Shares may be thinly
traded and you may be unable to sell at or near ask prices or at all if you need to sell your shares to raise money or otherwise desire
to liquidate your shares.</I></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">Our Class A Ordinary Shares may be &ldquo;thinly-traded,&rdquo;
meaning that the number of persons interested in purchasing our Class A Ordinary Shares at or near bid prices at any given time may be
relatively small or non-existent. This situation may be attributable to a number of factors, including the fact that we are relatively
unknown to stock analysts, stock brokers, institutional investors and others in the investment community that generate or influence sales
volume, and that even if we come to the attention of such persons, they tend to be risk-averse and might be reluctant to follow an unproven
company such as ours or purchase or recommend the purchase of our shares until such time as we became more seasoned. As a consequence,
there may be periods of several days or more when trading activity in our shares is minimal or non-existent, as compared to a seasoned
issuer which has a large and steady volume of trading activity that will generally support continuous sales without an adverse effect
on share price. A broad or active public trading market for our Class A Ordinary Shares may not develop or be sustained.</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><I>If securities or industry analysts do not
publish or publish inaccurate or unfavorable research about our business, or if they adversely change their recommendations regarding
our Class A Ordinary Shares, the market price for our Class A Ordinary Shares and trading volume could decline.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The trading market for our Class A Ordinary Shares
will depend in part on the research and reports that securities or industry analysts publish about us or our business. If research analysts
do not establish and maintain adequate research coverage or if one or more of the analysts who covers us downgrades our Class A Ordinary
Shares or publishes inaccurate or unfavorable research about our business, the market price for our Class A Ordinary Shares would likely
decline. If one or more of these analysts cease coverage of the Company or fail to publish reports on us regularly, we could lose visibility
in the financial markets, which, in turn, could cause the market price or trading volume for our Class A Ordinary Shares to decline.</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><I>If we fail to meet applicable listing requirements,
Nasdaq may delist our Class A Ordinary Shares from trading, in which case the liquidity and market price of our Class A Ordinary Shares
could decline.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our securities are listed on the Nasdaq Capital
Market. In order to maintain our listing on the Nasdaq Capital Market, we are required to comply with certain rules of the Nasdaq Capital
Market, including those regarding minimum stockholders&rsquo; equity, minimum share price, minimum market value of publicly held shares,
and various additional requirements. The Nasdaq Listing Rules require a company to maintain a minimum closing bid price of $1.00 per
share.&nbsp;</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">On December 9, 2024, we received a notice from
Nasdaq that we failed to comply with the minimum closing bid price requirement set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules
as the closing bid price per share had been below $1.00 for a period of 30 consecutive business days. The Nasdaq notification letter
does not result in the immediate delisting of our securities. Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, we have a compliance
period of 180 calendar days, or until or until June 9, 2025 to regain compliance with Nasdaq&rsquo;s minimum bid price requirement. If
we do not regain compliance during such 180-day period, we may be eligible for an additional 180 calendar days, provided that we meet
the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq except
for Nasdaq Listing Rule 5550(a)(2), and provides Nasdaq with a written notice of its intention to cure this deficiency during the second
compliance period, by effecting a reverse stock split, if necessary.</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">On June 10, 2025, our Company received a letter
from Nasdaq, indicating that our Company is granted an additional 180 calendar days, until December 8, 2025, to regain compliance with
the minimum bid price requirement of $1 per share, as stipulated by Nasdaq Listing Rule 5550(a)(2). If compliance cannot be demonstrated
by December 8, 2025, Nasdaq staff will provide written notification that our Company&rsquo;s securities will be delisted. At that time,
our Company may appeal Nasdaq staff&rsquo;s determination to a Hearings Panel.</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">On July 17, 2025, our Company issued a press
release announcing the approval of a proposed 1-for-90 share consolidation of our Company&rsquo;s Class A Ordinary Shares and Class B
Ordinary Shares, each with a par value of $0.0001 (the &ldquo;Share Consolidation&rdquo;). The Share Consolidation was approved by our
Company&rsquo;s board of directors on June 11, 2025 and by its shareholders at the 2025 Annual General Meeting held on April 8, 2025.
At the opening of trading on July 21, 2025, being the market effective date, the Class A Ordinary Shares began trading on a post-Share
Consolidation basis on the Nasdaq Capital Market under the same symbol &ldquo;TWG&rdquo; but under a new CUSIP number G8945S110. The
objective of the Share Consolidation was to enable our Company to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain
our listing on the Nasdaq Capital Market.</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; text-align: justify">Upon effectiveness of the Share Consolidation,
every 90 issued and outstanding Ordinary Shares of a par value of $0.0001 each were automatically consolidated into one issued and outstanding
Ordinary Share of a par value of $0.009 each. No fractional shares were issued in connection with the Share Consolidation; any fractional
shares that would have resulted were rounded up to the next whole number. The Share Consolidation was effected equally for all shareholders
and did not alter any shareholder&rsquo;s percentage ownership interest in the Company&rsquo;s outstanding Ordinary Shares, except for
adjustments resulting from the treatment of fractional shares.</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">While we are currently able to regain compliance
with Nasdaq Marketplace Rule 5550(a)(2) and maintain our listing on the Nasdaq Capital Market, sales of substantial amounts of our Class
A Ordinary Shares in the public market after the completion of this offering, or the perception that these sales could occur, could adversely
affect the market price of our Class A Ordinary Shares and could materially impair our ability to raise capital through equity offerings
in the future. The Class A Ordinary Shares sold in this offering will be freely tradable without restriction or further registration
under the Securities Act of 1933, as amended, or the Securities Act, and shares held by our existing shareholders may also be sold in
the public market in the future, subject to the restrictions in Rule 144 and Rule 701 under the Securities Act and the applicable lock-up
agreements. Any potential decline in the market price of our Class A Ordinary Shares after this offering may affect our ability to maintain
compliance with the listing rules relating to minimum bid price and market value of our listed securities.</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"></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; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, we are aware that on September 3,
2025, Nasdaq proposed to introduce an accelerated process for suspending and delisting companies with a listings deficiency that also
have a market value listed securities below $5.0 million. Nasdaq proposes further enhancing investor protections by providing for suspension
from Nasdaq trading and immediate delisting (rather than providing a compliance period) of any company that becomes non-compliant with
a numeric listing requirement, including the bid price, market value of public float, equity, income and total assets/revenue requirements,
and that has a market value of listed securities of less than $5 million. To effect this change, Nasdaq proposes to modify Listing Rule
5810(c)(1) to add an additional type of a deficiency that results in immediate delisting and suspension from trading of the company&rsquo;s
securities. Specifically, Listing Rule 5810(c)(1) will provide that staff's delisting notice will inform the company that its securities
are immediately subject to suspension and delisting when a company is non-compliant with one or more of the listing requirements contained
in Rule 5450 or Rule 5550 and the company&rsquo;s Market Value of Listed Securities has failed to maintain a value of at least $5 million
for a period of 10 consecutive business days. Listing Rule 5810(c)(2)(A)(i) currently identifies all quantitative deficiencies from standards
that do not provide a compliance period as deficiencies for which a company may submit a plan of compliance for staff review. Nasdaq
proposes to modify Listing Rule 5810(c)(2)(A)(i) to provide that the company may not submit such a plan when the company&rsquo;s Market
Value of Listed Securities had been less than $5 million for a period of 10 consecutive business days. Further, Listing Rule 5810(c)(3)
currently identifies deficiencies for which the rules provide a specified cure or compliance period. Nasdaq proposes to modify Listing
Rule 5810(c)(3) to provide that a company will not be entitled to such cure or compliance period if the company&rsquo;s Market Value
of Listed Securities has failed to maintain a value of at least $5 million for a period of 10 consecutive business days. Finally, Nasdaq
proposes to modify Listing Rule 5810(c)(1) to provide that staff's delisting notice in these circumstances will inform the company that
its securities are immediately subject to suspension from trading on Nasdaq. Nasdaq believes that it is not appropriate for such a company
to continue trading on Nasdaq during the pendency of the Hearings Panel review process. Instead, Nasdaq proposes to amend Rule 5815 to
remove the stay provision in these situations so that the company&rsquo;s securities will be suspended from trading on Nasdaq during
the pendency of the Hearings Panel&rsquo;s review.</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; text-align: justify; margin: 0pt 0">The proposed accelerated process for suspending
and delisting companies with a listings deficiency that also have a market value listed securities below $5.0 million, if implemented,
may put immense pressure on our Company to regain compliance should the market value of our listed securities fall below $5.0 million
as we may be exposed to the risk of losing our listing status quickly. We may have to monitor the market value of our listed securities
closely and take actions timely, such as issuing additional securities and raising additional capital to regain and/or maintain compliance.
Any such risk of losing our listing status quickly may harm investors&rsquo; confidence, our liquidity and limit our access to additional
funding.</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">Even if we currently meet the other listing requirements
and other applicable rules of the Nasdaq Capital Market, and even if we regain compliance with Nasdaq Listing Rule 5550(a)(2), we may
not be able to continue to satisfy these requirements and applicable rules. If we are unable to satisfy the Nasdaq Capital Market criteria
for maintaining our listing, our securities could be subject to delisting.</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">If we fail to comply with the applicable listing
standards and Nasdaq delists our Class A Ordinary Shares, we and our Shareholders could face significant material adverse consequences,
including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a limited availability of market quotations for our Class A Ordinary
    Shares;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reduced liquidity for our Class A Ordinary Shares;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a determination that our Class A Ordinary Shares are a &ldquo;penny
    stock,&rdquo; which will require brokers trading in our Class A Ordinary Shares to adhere to more stringent rules and possibly result
    in a reduced level of trading activity in the secondary trading market for our Class A Ordinary Shares;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">A limited amount of news about us and analyst coverage of us ; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a decreased ability for us to issue additional equity securities or
    obtain additional equity or debt financing in the future.</FONT></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; text-align: justify"><B><I>Because the amount, timing, and whether
or not we distribute dividends at all is entirely at the discretion of our board of directors, you must rely on price appreciation of
our Class A Ordinary Shares for return on your investment.</I></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">Our board of directors has complete discretion
as to whether to distribute dividends. In addition, our shareholders may by ordinary resolution declare a dividend, but no dividend may
exceed the amount recommended by our board of directors. In either case, all dividends are subject to certain restrictions under the
Cayman Islands law, namely that the Company may only pay dividends out of profits or share premium, and provided that under no circumstances
may a dividend be paid if this would result in the Company being unable to pay its debts as they fall due in the ordinary course of business.
Even if our board of directors decides to declare and pay dividends, the timing, amount and form of future dividends, if any, will depend
on, among other things, our future results of operations and cash flow, our capital requirements and surplus, the amount of distributions,
if any, received by us from our subsidiaries, our financial condition, contractual restrictions and other factors deemed relevant by
our board of directors. Accordingly, the return on your investment in our Class A Ordinary Shares will likely depend entirely upon any
future price appreciation of our Class A Ordinary Shares. We cannot assure you that our Class A Ordinary Shares will appreciate in value
or even maintain the price at which you purchased the Class A Ordinary Shares. You may not realize a return on your investment in our
Class A Ordinary Shares and you may even lose your entire investment in our Class A Ordinary Shares.</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><I>Our board of directors may decline to register
transfers of Class A Ordinary Shares in certain circumstances.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our board of directors may, in its sole discretion,
decline to register any transfer of any ordinary share which is not fully paid up or on which we have a lien. Our directors may also
decline to register any transfer of any share unless (i) the instrument of transfer is lodged with us, accompanied by the certificate
for the shares to which it relates and such other evidence as our board of directors may reasonably require to show the right of the
transferor to make the transfer; (ii) the instrument of transfer is in respect of only one class of shares; (iii) the instrument of transfer
is properly stamped, if required; (iv) in the case of a transfer to joint holders, the number of joint holders to whom the share is to
be transferred does not exceed four; (v) the shares conceded are free of any lien in favor of us; or (vi) a fee of such maximum sum as
Nasdaq may determine to be payable, or such lesser sum as our board of directors may from time to time require, is paid to us in respect
thereof.</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">If our directors refuse to register a transfer
they shall, within three months after the date on which the instrument of transfer was lodged, send to each of the transferor and the
transferee notice of such refusal. The registration of transfers may, after compliance with any notice requirement of the Nasdaq Stock
Market, be suspended and the register closed at such times and for such periods as our board of directors may from time to time determine,
provided, however, that the registration of transfers shall not be suspended nor the register closed for more than 30 days in any year.</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; text-align: justify"><B><I>Because we are a foreign private issuer
and are exempt from certain Nasdaq corporate governance standards applicable to U.S. issuers, you will have less protection than you
would have if we were a domestic issuer.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Nasdaq Listing Rules require listed companies
to have, among other things, a majority of its board members be independent. As a foreign private issuer, however, we are permitted to,
and we may follow home country practice in lieu of the above requirements. The corporate governance practice in our home country, the
Cayman Islands, does not require a majority of our board to consist of independent directors. In addition, the Nasdaq Listing Rules also
require U.S. domestic issuers to have a compensation committee, a nominating/corporate governance committee and an audit committee. We,
as a foreign private issuer, are not subject to these requirements. The Nasdaq Listing Rules may require shareholder approval for certain
corporate matters, such as requiring that shareholders be given the opportunity to vote on all equity compensation plans and material
revisions to those plans, certain ordinary share issuances.</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">We currently follow and intend to continue to
follow Cayman Islands corporate governance practices in lieu of the corporate governance requirements of the Nasdaq that listed companies
must obtain its shareholders&rsquo; approval of certain transactions other than public offerings involving the sale, issuance or potential
issuance by the Company of ordinary shares (or securities convertible into or exercisable for ordinary shares) equal to 20% or more of
the outstanding share capital of the Company or 20% or more of the voting power outstanding before the issuance for less than the greater
of book or market value of the ordinary shares (Nasdaq rule 5635(d)), and Nasdaq rule 5640, which requires that the voting rights of
a listed company cannot be disparately reduced or restricted through any corporation action or issuance. To the extent we choose to follow
home country practice in the future, our shareholders may be afforded less protection than they otherwise would under the Nasdaq corporate
governance listing standards applicable to U.S. domestic issuers.</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><I>We qualify as a foreign private issuer
and, as a result, we will not be subject to U.S. proxy rules and will be subject to Exchange Act reporting obligations that permit less
detailed and less frequent reporting than that of a U.S. corporation.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We report under the Exchange Act as a non-U.S.
company with foreign private issuer status. Because we qualify as a foreign private issuer under the Exchange Act, we are exempt from
certain provisions of the Exchange Act that are applicable to U.S. domestic public companies, including (i) the sections of the Exchange
Act regulating the solicitation of proxies, consents or authorizations in respect of a security registered under the Exchange Act; (ii)
the sections of the Exchange Act requiring insiders to file public reports of their stock ownership and trading activities and liability
for insiders who profit from trades made in a short period of time; and (iii) the rules under the Exchange Act requiring the filing with
the SEC of quarterly reports on Form 10-Q containing unaudited financial and other specified information, or current reports on Form
8-K upon the occurrence of specified significant events. In addition, our officers, directors and principal shareholders are exempt from
the reporting and &ldquo;short-swing&rdquo; profit recovery provisions of Section 16 of the Exchange Act and the rules thereunder. Therefore,
our shareholders may not know on a timely basis when our officers, directors and principal shareholders purchase or sell our Shares.
In addition, foreign private issuers are not required to file their annual report on Form 20-F until one hundred twenty (120) days after
the end of each fiscal year, while U.S. domestic issuers that are accelerated filers are required to file their annual report on Form
10-K within seventy-five (75) days after the end of each fiscal year. Foreign private issuers also are exempt from Regulation Fair Disclosure,
aimed at preventing issuers from making selective disclosures of material information. As a result of the above, you may not have the
same protections afforded to shareholders of companies that are not foreign private issuers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we lose our status as a foreign private issuer,
we would be required to comply with the Exchange Act reporting and other requirements applicable to U.S. domestic issuers, which are
more detailed and extensive than the requirements for foreign private issuers. We may also be required to make changes in our corporate
governance practices in accordance with various SEC and Nasdaq rules. The regulatory and compliance costs to us under U.S. securities
laws if we are required to comply with the reporting requirements applicable to a U.S. domestic issuer may be significantly higher than
the cost we would incur as a foreign private issuer. As a result, we expect that a loss of foreign private issuer status would increase
our legal and financial compliance costs and would make some activities highly time consuming and costly. We also expect that if we were
required to comply with the rules and regulations applicable to U.S. domestic issuers, obtaining and maintaining directors&rsquo; and
officers&rsquo; liability insurance would become more difficult and expensive for us, and we may be required to accept reduced coverage
or incur substantially higher costs to obtain coverage. These rules and regulations could also make it more difficult for us to attract
and retain qualified members of our board of directors.<B><I>&nbsp;</I></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We may lose our foreign private issuer
status in the future, which could result in significant additional costs and expenses.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are a foreign private issuer, and therefore,
we are not required to comply with all of the periodic disclosure and current reporting requirements of the Exchange Act. The determination
of foreign private issuer status is made annually on the last business day of an issuer&rsquo;s most recently completed second fiscal
quarter. We would lose our foreign private issuer status if, for example, more than 50% of voting power of our Ordinary Shares are directly
or indirectly held by residents of the United States and we fail to meet additional requirements necessary to maintain our foreign private
issuer status. If we lose our foreign private issuer status on this date, we will be required to file with the SEC periodic reports and
registration statements on U.S. domestic issuer forms, which are more detailed and extensive than the forms available to a foreign private
issuer. We will also have to mandatorily comply with U.S. federal proxy requirements, and our officers, directors and principal shareholders
will become subject to the short-swing profit disclosure and recovery provisions of Section 16 of the Exchange Act. In addition, we will
lose our ability to rely upon exemptions from certain corporate governance requirements under the Nasdaq rules. As a U.S. listed public
company that is not a foreign private issuer, we will incur significant additional legal, accounting and other expenses that we will
not incur as a foreign private issuer, and accounting, reporting and other expenses in order to maintain a listing on a U.S. securities
exchange.</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><I>The enforcement of foreign civil liabilities
in the Cayman Islands and Hong Kong is subject to certain conditions. Therefore, certain judgments obtained against us by our shareholders
may be difficult to enforce in such jurisdictions</I></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">We are a company formed under the laws of the
Cayman Islands. We conduct our operations outside the United States and substantially all of our assets are located outside the United
States. In addition, substantially all of our directors and executive officers reside outside the United States, and most of their assets
are located outside the United States. As a result, it may be difficult or impossible for you to bring an action against us or against
them in the United States in the event that you believe that your rights have been infringed under the U.S. federal securities laws or
otherwise. Even if you are successful in bringing an action of this kind, the laws of the Cayman Islands, Hong Kong, or other relevant
jurisdictions may render you unable to enforce a judgment against our assets or the assets of our directors and officers.</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">There is uncertainty as to whether the courts
of the Cayman Islands would (1) recognize or enforce judgments of U.S. courts obtained against us or our directors or officers that are
predicated upon the civil liability provisions of the federal securities laws of the United States or the securities laws of any state
in the United States, or (2) entertain original actions brought in the Cayman Islands against us or our directors or officers that are
predicated upon the federal securities laws of the United States or the securities laws of any state in the United States.</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">Although there is no statutory enforcement in
the Cayman Islands of judgments obtained in the federal or state courts of the United States (and the Cayman Islands are not a party
to any treaties for the reciprocal enforcement or recognition of such judgments), a judgment <I>in personam </I>obtained in such jurisdiction
will be recognized and enforced in the courts of the Cayman Islands at common law, without any re-examination of the merits of the underlying
dispute, by an action commenced on the foreign judgment debt in the Grand Court of the Cayman Islands, provided such judgment (a) is
given by a competent foreign court with jurisdiction to give the judgment, (b) imposes a specific positive obligation on the judgment
debtor (such as an obligation to pay a liquidated sum or perform a specified obligation), (c) is final and conclusive, (d) is not in
respect of taxes, a fine or a penalty, (e) has not been obtained by fraud; and (f) is not of a kind the enforcement of which is contrary
to natural justice or the public policy of the Cayman Islands. However, the Cayman Islands courts are unlikely to enforce a judgment
obtained from the U.S. courts under civil liability provisions of the U.S. federal securities law if such judgment is determined by the
courts of the Cayman Islands to give rise to obligations to make payments that are penal or punitive in nature. Because such a determination
has not yet been made by a court of the Cayman Islands, it is uncertain whether such civil liability judgments from U.S. courts would
be enforceable in the Cayman Islands. A Cayman Islands court may stay enforcement proceedings if concurrent proceedings are being brought
elsewhere.</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">Judgment of United States courts will not be
directly enforced in Hong Kong. There are currently no treaties or other arrangements providing for reciprocal enforcement of foreign
judgments between Hong Kong and the United States. However, the common law permits an action to be brought upon a foreign judgment. That
is to say, a foreign judgment itself may form the basis of a cause of action since the judgment may be regarded as creating a debt between
the parties to it. In a common law action for enforcement of a foreign judgment in Hong Kong, the enforcement is subject to various conditions,
including but not limited to, that the foreign judgment is a final judgment conclusive upon the merits of the claim, the judgment is
for a liquidated amount in a civil matter and not in respect of taxes, fines, penalties, or similar charges, the proceedings in which
the judgment was obtained were not contrary to natural justice, and the enforcement of the judgment is not contrary to public policy
of Hong Kong. Such a judgment must be for a fixed sum and must also come from a &ldquo;competent&rdquo; court as determined by the private
international law rules applied by the Hong Kong courts. The defenses that are available to a defendant in a common law action brought
on the basis of a foreign judgment include lack of jurisdiction, breach of natural justice, fraud, and contrary to public policy. However,
a separate legal action for debt must be commenced in Hong Kong in order to recover such debt from the judgment debtor.</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><I>You may face difficulties in protecting
your interests, and your ability to protect your rights through U.S. courts may be limited, because we are incorporated under Cayman
Islands law.</I></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">We are a company formed under the laws of the
Cayman Islands. Our corporate affairs are governed by our memorandum and articles of association (as amended from time to time), the
Companies Act and the common law of the Cayman Islands. The rights of shareholders to take action against our directors, actions by our
minority shareholders and the fiduciary duties of our directors to us under the Cayman Islands laws are to a large extent governed by
the common law of the Cayman Islands. The common law of the Cayman Islands is derived in part from comparatively limited judicial precedent
in the Cayman Islands as well as from the common law of England, the decisions of whose courts are of persuasive authority, but are not
binding, on a court in the Cayman Islands. The rights of our shareholders and the fiduciary duties of our directors under the Cayman
Islands laws are not as clearly established as they would be under statutes or judicial precedent in some jurisdictions in the United
States. In particular, the Cayman Islands has a less developed body of securities laws than the United States. Some U.S. states, such
as Delaware, have more fully developed and judicially interpreted bodies of corporate law than the Cayman Islands. In addition, the Cayman
Islands companies may not have standing to initiate a shareholder derivative action in a federal court of the United States.</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">Shareholders of Cayman Islands companies like
us have no general rights under the Cayman Islands laws to inspect corporate records, other than the memorandum and articles of association
(as amended from time to time) and any special resolutions passed by such companies, and the registers of mortgages and charges of such
companies. Our directors have discretion under our amended and restated memorandum and articles of association to determine whether or
not, and under what conditions, our corporate records may be inspected by our shareholders, but are not obliged to make them available
to our shareholders. This may make it more difficult for you to obtain the information needed to establish any facts necessary for a
shareholder motion or to solicit proxies from other shareholders in connection with a proxy contest.</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">As a result of all of the above, public shareholders
may have more difficulty in protecting their interests in the face of actions taken by our management, members of our board of directors,
or our Controlling Shareholder than they would as public shareholders of a company incorporated in the United States.</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><I>As a company incorporated in the Cayman
Islands, we are permitted to adopt certain Cayman Islands&rsquo; practices in relation to corporate governance matters that differ significantly
from the Nasdaq Capital Market listing standards; these practices may afford less protection to shareholders than they would enjoy if
we complied fully with the Nasdaq Capital Market listing standards.</I></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">As a Cayman Islands company to be listed on the
Nasdaq Capital Market, we are subject to the Nasdaq Capital Market listing standards. However, the Nasdaq Capital Market rules permit
a foreign private issuer like us to follow the corporate governance practices of its home country. Certain corporate governance practices
in the Cayman Islands, which is our home country, may differ significantly from the Nasdaq Capital Market listing standards. We currently
follow and intend to continue to follow Cayman Islands corporate governance practices in lieu of the corporate governance requirements
of the Nasdaq that listed companies must obtain its shareholders&rsquo; approval of certain transactions other than public offerings
involving the sale, issuance or potential issuance by the Company of ordinary shares (or securities convertible into or exercisable for
ordinary shares) equal to 20% or more of the outstanding share capital of the Company or 20% or more of the voting power outstanding
before the issuance for less than the greater of book or market value of the ordinary shares (Nasdaq rule 5635(d)), and Nasdaq rule 5640,
which requires that the voting rights of a listed company cannot be disparately reduced or restricted through any corporation action
or issuance. To the extent we choose to follow home country practice in the future, our shareholders may be afforded less protection
than they otherwise would under the Nasdaq corporate governance listing standards applicable to U.S. domestic issuers.</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><I>There can be no assurance that we will
not be a passive foreign investment company, or PFIC, for United States federal income tax purposes for any taxable year, which could
subject United States investors in our Class A Ordinary Shares to significant adverse United States income tax consequences.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will be classified as a passive foreign investment
company, or PFIC, for any taxable year if either (i) 75% or more of our gross income for such year consists of certain types of &ldquo;passive&rdquo;
income, or (ii) 50% or more of the value of our assets (determined on the basis of a quarterly average) during such year produce or are
held for the production of passive income (the &ldquo;asset test&rdquo;). Based upon our current and expected income and assets, as well
as projections as to the market price of our Class A Ordinary Shares, we do not presently expect to be classified as a PFIC for the current
taxable year or the foreseeable future.</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">While we do not expect to be a PFIC, because
the value of our assets, for purposes of the asset test, may be determined by reference to the market price of our Class A Ordinary Shares,
fluctuations in the market price of our Class A Ordinary Shares may cause us to become a PFIC classification for the current or subsequent
taxable years. The determination of whether we will be or become a PFIC will also depend, in part, on the composition and classification
of our income, including the relative amounts of income generated by and the value of assets of our future strategic investment business
as compared to our other businesses. Because there are uncertainties in the application of the relevant rules, it is possible that the
U.S. Internal Revenue Service, or IRS, may challenge our classification of certain income and assets as non-passive which may result
in our being or becoming a PFIC in the current or subsequent years. In addition, the composition of our income and assets will also be
affected by how, and how quickly, we use our liquid assets and the cash raised in the initial public offering. If we determine not to
deploy significant amounts of cash for active purposes, our risk of being a PFIC may substantially increase. Because there are uncertainties
in the application of the relevant rules and PFIC status is a factual determination made annually after the close of each taxable year,
there can be no assurance that we will not be a PFIC for the current taxable year or any future taxable year.</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">If we are a PFIC in any taxable year, a U.S.
Holder (as defined in &ldquo;Taxation - United States Federal Income Tax Considerations&rdquo;) in our Annual Report on Form 20-F for
the year ended December 31, 2024, which is incorporated by reference herein) may incur significantly increased United States income tax
on gain recognized on the sale or other disposition of our Ordinary Shares and on the receipt of distributions on our Class A Ordinary
Shares to the extent such gain or distribution is treated as an &ldquo;excess distribution&rdquo; under the United States federal income
tax rules, and such holder may be subject to burdensome reporting requirements. Further, if we are a PFIC for any year during which a
U.S. Holder holds our Class A Ordinary Shares, we will generally continue to be treated as a PFIC for all succeeding years during which
such U.S. Holder holds our Class A Ordinary Shares. For more information see &ldquo;Taxation - United States Federal Income Tax Considerations
- Passive Foreign Investment Company Rules&rdquo; in our Annual Report on Form 20-F for the year ended December 31, 2024, which is incorporated
by reference herein).</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><I>We are an &ldquo;emerging growth company&rdquo;
within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available to emerging
growth companies, this could make it more difficult to compare our performance with other public companies.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are an &ldquo;emerging growth company&rdquo;
within the meaning of the Securities Act, as modified by the JOBS Act. Section 102(b)(1) of the JOBS Act exempts emerging growth companies
from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not
had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act)
are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt
out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election
to opt out is irrevocable. We have elected not to opt out of such extended transition period, which means that when a standard is issued
or revised, and it has different application dates for public or private companies, we, as an emerging growth company, can adopt the
new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of our financial statements
with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the
extended transition period difficult or impossible because of the potential differences in accountant standards used.</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><I>As an &ldquo;emerging growth company&rdquo;
under applicable law, we will be subject to lessened disclosure requirements. Such reduced disclosure may make our Class A Ordinary Shares
less attractive to investors.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For as long as we remain an &ldquo;emerging growth
company,&rdquo; as defined in the JOBS Act, we will elect to take advantage of certain exemptions from various reporting requirements
that are applicable to other public companies that are not &ldquo;emerging growth companies&rdquo;, including, but not limited to, not
being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations
regarding executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding
advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Because of
these lessened regulatory requirements, our shareholders would be left without information or rights available to shareholders of more
mature companies. If some investors find our Class A Ordinary Shares less attractive as a result, there may be a less active trading
market for our Class A Ordinary Shares and our share price may be more volatile.</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><I>We will incur increased costs as a result
of being a public company, particularly after we cease to qualify as an &ldquo;emerging growth company.&rdquo;</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will incur significant legal, accounting and
other expenses as a public company that we did not incur as a private company. The Sarbanes-Oxley Act of 2002, as well as rules subsequently
implemented by the SEC, Nasdaq Capital Market, impose various requirements on the corporate governance practices of public companies.</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">Compliance with these rules and regulations increases
our legal and financial compliance costs and makes some corporate activities more time-consuming and costly. After we are no longer an
&ldquo;emerging growth company,&rdquo; or until five years following the completion of our initial public offering, whichever is earlier,
we expect to incur significant expenses and devote substantial management effort toward ensuring compliance with the requirements of
Section 404 and the other rules and regulations of the SEC. For example, as a public company, we have been required to increase the number
of independent directors and adopt policies regarding internal controls and disclosure controls and procedures. We have incurred additional
costs in obtaining director and officer liability insurance. In addition, we will incur additional costs associated with our public company
reporting requirements. It may also be more difficult or costly for us to find qualified persons to serve on our board of directors or
as executive officers as a public company. We are currently evaluating and monitoring developments with respect to these rules and regulations,
and we cannot predict or estimate with any degree of certainty the amount of additional costs we may incur or the timing of such costs.</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: center"><B><A NAME="a_024"></A>SPECIAL NOTE REGARDING
FORWARD-LOOKING STATEMENTS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This prospectus contains forward-looking statements
that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by the words &ldquo;may,&rdquo;
&ldquo;might,&rdquo; &ldquo;will,&rdquo; &ldquo;could,&rdquo; &ldquo;would,&rdquo; &ldquo;should,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo;
&ldquo;plan,&rdquo; &ldquo;goal,&rdquo; &ldquo;objective,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo;
&ldquo;predict,&rdquo; &ldquo;potential,&rdquo; &ldquo;continue&rdquo; and &ldquo;ongoing,&rdquo; or the negative of these terms, or
other comparable terminology intended to identify statements about the future. These statements involve known and unknown risks, uncertainties
and other important factors that may cause our actual results, levels of activity, performance or achievements to be materially different
from the information expressed or implied by these forward-looking statements. The forward-looking statements and opinions contained
in this prospectus are based upon information available to us as of the date of this prospectus and, while we believe such information
forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to
indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. Factors that
could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our goals and strategies;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our future business development, financial condition and results of
    operations;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">prices and availability of raw materials for our products;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">expected changes in our revenues, costs or expenditures;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our expectations regarding the demand for and market acceptance of
    our products;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">changes in our relationships with significant customers, suppliers,
    and other business relationships;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">competition in our industry;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">uncertainties associated with our ability to implement our business
    strategy and to innovate successfully;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">any event that could have a material adverse effect on our brands or
    reputation, such as product contamination or quality control difficulties;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">government policies and regulations relating to our industry;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our ability to obtain, maintain or procure all necessary certifications,
    approvals, and/or licenses to conduct our business, and in the relevant jurisdictions in which we operate;</FONT></TD></TR>
</TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">&#9679;</TD>
    <TD STYLE="text-align: justify">Our ability to maintain compliance with the continued listing requirements of the Nasdaq Capital
    Market; and</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">other factors set forth under &ldquo;Risk Factors.&rdquo;</FONT></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; text-align: justify">You should refer to the section titled &ldquo;Risk
Factors&rdquo; for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied
by our forward-looking statements. As a result of these factors, we cannot assure you that the forward-looking statements in this prospectus
will prove to be accurate. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In
light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation
or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. We undertake
no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise,
except as required by law.</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">You should read this prospectus and the documents
that we reference in this prospectus and have filed as exhibits to the registration statement, of which this prospectus forms a part,
completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all
of our forward-looking statements by these cautionary statements.</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: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></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; text-align: center"><B><A NAME="a_025"></A>USE OF PROCEEDS</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; text-align: justify">We estimate that we will receive net proceeds
from this offering of approximately $4,341,544, based upon a combined public offering price of $7.00 per Class A Ordinary Share and accompanying
Class A Warrants, after deducting Placement Agent fees and estimated offering expenses payable by us and assuming no exercise of the Class
A Warrants.</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">However, because this is a reasonable best efforts offering with no
minimum number of Securities or amount of proceeds as a condition to closing, the actual offering amount, Placement Agent fees, and net
proceeds to us are not presently determinable and may be substantially less than the maximum amounts set forth on the cover page of this
prospectus, and we may not sell all or any of the Securities we are offering. As a result, we may receive significantly less in net proceeds.
Based on the combined public offering price set forth above, we estimate that our net proceeds from the sale of 75%, 50%, and 25% of the
Securities offered in this offering would be approximately $1.1 million, $2.2 million, and $3.3 million, respectively, after deducting
the Placement Agent fees and estimated offering expenses payable by us, and assuming no exercise of the Class A Warrants. We will only
receive additional proceeds from the exercise of the Class A Warrants we are issuing in this offering if the Class A Warrants are exercised
for cash. We cannot predict when or if the Class A Warrants will be exercised. It is possible that these warrants may expire and may never
be exercised.</P>

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

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">These estimates exclude the proceeds, if any, from the exercise of
Class A Warrants offered hereby. If all of the Class A Warrants offered hereby were to be exercised in cash at an exercise price of $7.00
per Class A Ordinary Share, we would receive additional proceeds of approximately $10,080,000. We cannot predict when or if these Class
A Warrants will be exercised. It is possible that these Warrants may expire and may never be exercised. Additionally, these Class A Warrants
contain a cashless exercise provision that permit exercise of such Class A Warrants on a cashless basis at any time when there is no effective
registration statement under the Securities Act covering the issuance of the underlying Class A Ordinary Shares.</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; text-align: justify">We intend to use the net proceeds of this offering
for general corporate and working capital purposes.</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; text-align: justify">The foregoing represents our current intentions
based upon our present plans and business conditions to use and allocate the net proceeds of this Offering. Our management, however,
will have significant flexibility and discretion to apply the net proceeds of this Offering. If an unforeseen event occurs or business
conditions change, we may use the proceeds of this Offering differently than as described in this prospectus. To the extent that the
net proceeds we receive from this Offering are not immediately used for the above purposes, we intend to invest our net proceeds in short-term,
interest-bearing bank deposits or debt instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><BR>
Because there is no minimum offering amount required as a condition to closing this offering, we may sell fewer than all or any of the
securities offered hereby, which may significantly reduce the amount of proceeds received by us, and investors in this offering will
not receive a refund in the event that we do not sell a number of securities sufficient to pursue the business goals outlined in this
prospectus.</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: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></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; text-align: center"><B><A NAME="a_026"></A>DIVIDEND POLICY</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">Top Wealth Group Holding Limited has not made
any dividends or distributions to U.S. investors as of the date of this prospectus. During the fiscal years ended December 31, 2024 and
2023 and the six months ended June 30, 2025, no dividends or distribution have been made to date by our subsidiaries.</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">We anticipate that we will retain any earnings
to support operations and to finance the growth and development of our business. Therefore, we do not expect to pay cash dividends in
the foreseeable future.</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">Our board of directors has complete discretion
on whether to distribute dividends, subject to certain restrictions under applicable Cayman Islands laws. In addition, our shareholders
may by ordinary resolution declare a dividend, but no dividend may exceed the amount recommended by our board of directors. Under Cayman
Islands law, a Cayman Islands company may pay a dividend either out of profit or share premium account, provided that in no circumstances
may a dividend be paid if the dividend payment would result in the company being unable to pay its debts as they fall due in the ordinary
course of business. Even if our board of directors decides to pay dividends, the form, frequency, and amount of future dividend, if any,
will depend upon, among other things, our future operations and earnings and cash flow, capital requirements and surplus, the amount
of distributions, if any, received by us from our subsidiaries, general financial condition, contractual restrictions, and other factors
that the board of directors may deem relevant. Cash dividends on our ordinary shares, if any, will be paid in U.S. dollars. Please see
the section titled &ldquo;Taxation&rdquo; of our Annual Report on Form 20-F for the year ended December 31, 2024, which is incorporated
by reference in this prospectus for information on the potential tax consequences of any cash dividends declared.</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: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></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-top: 0pt; margin-bottom: 0pt; text-align: center"><B><A NAME="a_027"></A>CAPITALIZATION</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; text-align: justify">The following table sets forth our capitalization
as of December 31, 2024:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">on an actual basis; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="width: 0.25in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on an as adjusted basis to give further effect to our issuance and
sale of 720,000 Class A Ordinary Shares and accompanying Class A Warrants to purchase 720,000 Class A Ordinary Shares in this offering,
at a combined public offering price of $7.00 per Class A Ordinary Share and accompanying Class A Warrants, after deducting Placement Agent&rsquo;s
fees and estimated offering expenses payable by us, excluding the proceeds, if any, from the exercise of the Class A Warrants issued in
this offering, assuming no value is attributed to the Class A Warrants being sold in this offering.</FONT></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; text-align: justify">The as adjusted information below is illustrative
only, and our capitalization following the completion of this offering is subject to adjustment based on the actual net proceeds to us
from the offering. You should read this capitalization table in conjunction with &ldquo;Management&rsquo;s Discussion and Analysis of
Financial Condition and Results of Operations&rdquo;, &ldquo;Use of Proceeds&rdquo; and the consolidated financial statements and the
related notes appearing elsewhere in this prospectus.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>As of December 31, 2024</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Actual</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>As<BR>
Adjusted<SUP>(1)</SUP></B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shareholders&rsquo; equity</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A Ordinary Shares, $0.009 par value; 5,000,000 shares authorized, 580,029 Class A Ordinary Shares and 166,667 Class B Ordinary Shares issued and outstanding on an actual basis; 1,300,029 Class A Ordinary Shares and 166,667 Class B Ordinary Shares issued and outstanding on an as adjusted basis</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,720</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,700</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional paid-in capital</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16,325,412</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,365,412</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Retained earnings</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,289,406</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,289,406</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total equity</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18,620,418</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,666,518</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total capitalization</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18,620,418</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,666,518</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The as-adjusted information discussed above is illustrative only. Our
    additional paid-in capital, total shareholders&rsquo; equity, and total capitalization following the completion of this offering
    are subject to adjustment based on the actual public offering price and other terms of this offering determined at pricing.</FONT></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; text-align: justify">The above discussion and table are based on 580,029
Class A Ordinary Shares and 166,667 Class B Ordinary Shares outstanding as of December 31, 2024.</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">Because there is no minimum offering amount required
as a condition to closing this offering, we may sell fewer than all or none of the securities offered hereby.</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; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></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; text-align: center"><B><A NAME="a_036"></A>DESCRIPTION OF SHARE CAPITAL</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">Our Company is an exempted company incorporated
in the Cayman Islands and our corporate affairs are governed by our articles of association, the Companies Act, and the common law of
the Cayman Islands.</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">At incorporation, our authorized share capital
is $50,000, divided into 500,000,000 ordinary shares, par value $0.0001 per share. Upon incorporation, 1 ordinary share of $0.0001 was
issued a par. On March 1, 2023, 99 ordinary shares of $0.0001 each were issued at par. All these ordinary shares rank pari-passu with
the exiting share in all respect.</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">Thereafter, on April 28, 2023, 650 ordinary shares
of $0.0001 each were issued to our Company&rsquo;s then-sole owner at par. All these ordinary shares rank pari-passu with the exiting
shares in all respect.</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">Furthermore, on the same date, April 18, 2023,
the then-sole owner of our Company sold a total of 190 Ordinary Shares, out of its 750 Ordinary Shares, to five shareholders.</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">On October 12, 2023, in contemplation of our
Company&rsquo;s initial public offering, our Company further issued 26,999,250 ordinary shares in aggregate to its existing shareholders
at par value, on a pro rata basis proportional to the shareholders&rsquo; existing equity interests (collectively refers as the &ldquo;Pro
Rata Share Issuance&rdquo;). After the Pro Rata Share Issuance, 27,000,000 Ordinary Shares were issued and outstanding. All these ordinary
shares rank pari-passu with the exiting shares in all respect. This Pro Rata Share Issuance has treated as share split.</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">As of December 31, 2023, 27,000,000 ordinary
shares were issued and outstanding.</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">On April 18, 2024, our Company closed its initial
public offering (the &ldquo;IPO&rdquo;) of 2,000,000 ordinary shares, par value $0.0001 per ordinary share at the price of $4 each, totally
$8,000,000. All these shares rank pari-passu with the existing shares in all respect.</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">On October 14, 2024, our Company closed its public
offering (the &ldquo;IPO&rdquo;) of 27,000,000 ordinary shares, par value $0.0001 per ordinary share at the price of $0.40 each, totally
$10,800,000. All these share rank pari-passu with the existing shares in all respect.</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">As of December 31, 2024, 56,000,000.00 ordinary
shares were issued and outstanding.</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">On April 8, 2025, pursuant to shareholder approval
at the 2025 Annual General Meeting, our authorized share capital was restructured from $50,000 divided into 500,000,000 ordinary shares
of $0.0001 each to $50,000 divided into 450,000,000 Class A Ordinary Shares of $0.0001 each and 50,000,000 Class B Ordinary Shares of
$0.0001 each. All the then-issued ordinary shares, except for the 15,000,000 held by Winwin Development Group Limited, were re-designated
as Class A Ordinary Shares on a one-for-one basis; the 15,000,000 held by Winwin Development Group Limited were re-designated as Class
B Ordinary Shares. All shares rank pari-passu within their class except as to voting rights.</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">On June 4, 2025, our Company adopted the 2025
Equity Incentive Plan. Up to 11,200,000 Class A ordinary shares are reserved for issuance under the plan. On June 5, 2025, a registration
statement was filed for all shares reserved under the plan. The 11,200,000 Class A Ordinary Shares reserved were issued on June 23, 2025.</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">On July 21, 2025, our Company effected a 1-for-90
share consolidation of all issued and outstanding Class A and Class B Ordinary Shares. After the Share Consolidation, every 90 shares
of $0.0001 par value became 1 share of $0.009 par value; fractional shares were rounded up. The Share Consolidation did not alter the
proportionate ownership of any shareholder except for adjustments due to rounding.</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">On August 22, 2025, at the extraordinary general
meeting of shareholders of our Company, our shareholders resolved to, amongst others, approve the increase of the authorized share capital
of our Company from $50,000 divided into 5,000,000 Class A Ordinary Shares of par value $0.009 each and 555,556 Class B Ordinary Shares
of par value $0.009 each to $19,800,000 divided into 2,000,000,000 Class A Ordinary Shares of par value $0.009 each and 200,000,000 Class
B Ordinary Shares of par value $0.009 each. On the same day, our shareholders also resolved to adopt a second equity incentive plan (the
&ldquo;2025 Second Equity Incentive Plan&rdquo; or the &ldquo;Second Plan&rdquo;) to attract, retain, and provide incentives to key management
employees, directors and consultants of our Company and its affiliates, and to align the interests of such service providers with those
of our Company&rsquo;s shareholders. Pursuant to the Second Plan, 20% of the number of Class A Ordinary Shares issued as of an effective
date to be determined by our Company&rsquo;s board of directors in its sole discretion until December 31, 2026 will be reserved and made
available for issuance pursuant to awards granted under the Second Plan.</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">As of the date of this prospectus, 580,029 Class
A Ordinary Shares and 166,667 Class B Ordinary Shares were issued and outstanding.</P>

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

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<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; text-align: center"><A NAME="j_001"></A><FONT STYLE="text-transform: uppercase"><B>DESCRIPTION
OF SECURITIES We ARE OFFERING</B></FONT></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; text-align: justify"><B>General</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">We are offering 720,000 of our Class A Ordinary Shares at a combined
public offering price of $7.00 per Class A Ordinary Share and accompanying Class A Warrants. Each Class A Ordinary Share is being sold
together with Class A Warrants. The Class A Ordinary Shares and related Class A Warrants will be issued separately. We are also registering
the Class A Ordinary Shares issuable from time to time upon exercise of the Class A Warrants offered hereby.</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><I>Class A Ordinary Share</I></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">Holders of Class A Ordinary Shares have no pre-emptive,
redemption, conversion or sinking fund rights. Holders of Class A Ordinary Shares are entitled to one vote per share on all matters submitted
to a vote of holders of Class A Ordinary Shares. Unless a different majority is required by law or by our Bye-laws, resolutions to be
approved by holders of Class A Ordinary Shares require approval by a simple majority of votes cast at a general meeting at which a quorum
is present.</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">In the event of our liquidation, dissolution
or winding up, the holders of Class A Ordinary Shares are entitled to share equally and ratably in our assets, if any, remaining after
the payment of all of our debts and liabilities, subject to any liquidation preference on any issued and outstanding preference shares.</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">Other material terms and provisions of our Class
A Ordinary Shares are described under the caption &ldquo;<I>Description of Share Capital</I>&rdquo; in this prospectus and are incorporated
herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Class A Warrants</I></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">The following summary of certain terms and provisions
of the Class A Warrants that are being offered hereby is not complete and is subject to, and qualified in its entirety by, the provisions
of each of the Series A Class A Warrant and Series B Class A Warrant, the forms of which will be filed as exhibits to the registration
statement of which this prospectus forms a part. Prospective investors should carefully review the terms and provisions of the form of
Series A Class A Warrant and Series B Class A Warrant for a complete description of the terms and conditions of each of the Series A
Class A Warrant and Series B Class A Warrant.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Duration, Exercise Price and Form.</I> Each
Series A Class A Warrant offered hereby will have an exercise price equal to $7.00 per Class A Ordinary Share. The Series A Class A Warrants
will be exercisable immediately upon issuance and may be exercised until the five-year anniversary of the original issuance date. Each
Series B Class A Warrant offered hereby will have an exercise price equal to $7.00 per Class A Ordinary Share. The Series B Class A Warrants
will be exercisable immediately upon issuance and may be exercised until the eighteen-month anniversary of the original issuance date.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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">The exercise price and number of Class A Ordinary
Shares issuable upon exercise is subject to appropriate adjustment in the event of share dividends (bonus issues), share splits (share
consolidations or subdivisions), reorganizations or similar events affecting our Class A Ordinary Shares and the exercise price. The
Class A Warrants will be issued separately from the Class A Ordinary Shares. The Class A Warrants will be issued in certificated form
only.</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; text-align: justify"><I>No Fractional Shares</I>. No fractional Class
A Ordinary Shares will be issued upon the exercise of Class A Warrants. Rather, the number of Class A Ordinary Shares to be issued will,
at our election, either be rounded up to the nearest whole number (provided that all such shares shall be fully paid shares) or we will
pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the exercise price.</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; text-align: justify"><I>Exercise Limitation. </I>The Class A Warrants
will be exercisable, at the option of each holder, in whole or in part, by delivering to us a duly executed exercise notice accompanied
by payment in full for the number of Class A Ordinary Shares purchased upon such exercise (except in the case of a cashless exercise
as discussed below). A holder (together with its affiliates) may not exercise any portion of such holder&rsquo;s Class A Warrants to
the extent that the holder would own more than 4.99% of the outstanding Class A Ordinary Shares (or at the election of a holder prior
to the date of issuance, 9.99%) immediately after exercise, except that upon at least 61 days&rsquo; prior notice from the holder to
us, the holder may increase the amount of ownership of outstanding Class A Ordinary Shares after exercising the holder&rsquo;s Class
A Warrants up to 9.99% of the number of Class A Ordinary Shares outstanding immediately after giving effect to the exercise, as such
percentage ownership is determined in accordance with the terms of the Class A Warrants.<I>&nbsp;</I></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; text-align: justify"><I>Cashless Exercise. </I>If at the time of exercise
there is no effective registration statement registering, or the prospectus contained therein is not available for the issuance of the
underlying shares to the holder, in lieu of making the cash payment otherwise contemplated to be made to us upon such exercise in payment
of the aggregate exercise price, the holder may elect instead to receive upon such exercise (either in whole or in part) the net number
of Class A Ordinary Shares determined according to a formula set forth in the Class A Warrants.<I>&nbsp;</I></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; text-align: justify"><I>Fundamental Transactions.</I> In the event
of a fundamental transaction, as described in the Class A Warrants and generally including any reorganization, recapitalization or reclassification
of our Class A Ordinary Shares, the sale, transfer or other disposition of all or substantially all of our properties or assets, our
consolidation or merger with or into another person, the acquisition of 50% or more of our outstanding Class A Ordinary Shares, or any
person or group becoming the beneficial owner of 50% or more of the voting power represented by our outstanding Class A Ordinary Shares,
the holders of the Class A Warrants will be entitled to receive upon exercise of the Class A Warrants the kind and amount of securities,
cash or other property that the holders would have received had they exercised the Class A Warrants immediately prior to such fundamental
transaction. In addition, in certain circumstances, upon a fundamental transaction, the holder of the Class A Warrants will have the
right to require us to repurchase its Class A Warrants at the Black-Scholes Value (as defined in the Class A Warrants); provided, however,
that, if the fundamental transaction is not within our control, including not approved by our Board, then the holder will only be entitled
to receive the same type or form of consideration (and in the same proportion), at the Black-Scholes Value of the unexercised portion
of the Class A Warrant that is being offered and paid to the holders of our Class A Ordinary Shares in connection with the fundamental
transaction.</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; text-align: justify"><I>Transferability. </I>Subject to applicable
laws, a Class A Warrant may be transferred at the option of the holder upon surrender of the Class A Warrants to us together with the
appropriate instruments of transfer.</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; text-align: justify"><I>Rights as a Shareholder.</I> Except as otherwise
provided in the Class A Warrants or by virtue of the holders&rsquo; ownership of Class A Ordinary Shares, the holders of the Class A
Warrants do not have the rights or privileges of holders of our Class A Ordinary Shares, including any voting rights, until such Class
A Warrant holders exercise their Class A Warrants.</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; text-align: justify"><I>Waivers and Amendments</I>. The Class A Warrants
may be modified or amended, or the provisions thereof waived with the written consent of the Company and the respective holder, subject
to certain exceptions.</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"><I>Trading Market and Listing</I>. There is no
established trading market for the Class A Warrants, and we do not expect a market to develop. We do not intend to apply for a listing
of the Class A Warrants on any securities exchange or other nationally recognized trading system. Without an active trading market, the
liquidity of the Class A Warrants will be limited. The Class A Ordinary Shares issuable upon exercise of the Class A Warrants are currently
listed on Nasdaq.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_038"></A>PLAN OF DISTRIBUTION</B></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">Pursuant to an placement agency agreement (the &ldquo;Placement Agency
Agreement&rdquo;) dated December 9, 2025, we have engaged Univest Securities, LLC to act as our exclusive placement agent to solicit offers
to purchase the securities offered pursuant to this prospectus on a &ldquo;reasonable best efforts&rdquo; basis. The Placement Agent is
not purchasing or selling any of the securities offered by us under this prospectus, nor is it required to arrange for the purchase or
sale of any specific number or dollar amount of securities. This is a reasonable best efforts offering, and there is no minimum offering
amount required as a condition to the closing of this offering. The Placement Agent has agreed to use reasonable best efforts to arrange
for the sale of the securities by us. Therefore, we may not sell all of the Class A Ordinary Shares and Class A Warrants. The terms of
this offering are subject to market conditions and negotiations between us, the Placement Agent and prospective investors. The Placement
Agent does not guarantee that it will be able to raise new capital in any prospective offering. The Placement Agent may engage sub-agents
or selected dealers to assist with the offering.</P>
<P STYLE="margin: 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0; text-align: justify">Investors purchasing securities offered hereby will have the option
to execute a securities purchase agreement with us. In addition to rights and remedies available to all purchasers in this offering under
federal securities and state law, the purchasers which enter into a securities purchase agreement will also be able to bring claims of
breach of contract against us. The ability to pursue a claim for breach of contract is material to larger purchasers in this offering
as a means to enforce the following covenants uniquely available to them under the securities purchase agreement: (i) a covenant to not
enter into variable rate financings for a period of one (1) year following the closing of the offering, subject to certain exceptions;
and (ii) a covenant to not enter into any equity financings for forty-five (45) days from closing of the offering, subject to certain
exceptions. The nature of the representations, warranties and covenants in the securities purchase agreements shall include:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></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="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">standard
                                            issuer representations and warranties on matters such as organization, qualification, authorization,
                                            no conflict, no governmental filings required, current in SEC filings, no litigation, labor
                                            or other compliance issues, environmental, intellectual property and title matters and compliance
                                            with various laws such as the Foreign Corrupt Practices Act; and</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></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="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">covenants
                                            regarding matters such as no integration with other offerings, filing of a Report on Form
                                            6-K to disclose entering into these securities purchase agreements, no shareholder rights
                                            plans, no material nonpublic information, use of proceeds, indemnification of purchasers,
                                            reservation and listing of ordinary and no subsequent equity sales for days.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The terms of this offering are subject to market conditions and negotiations
between us, the Placement Agent, and prospective investors. The (the Placement Agency Agreement provides that the Placement Agent&rsquo;s
obligations are subject to conditions contained in the Placement Agency Agreement.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delivery of the Class A Ordinary Shares and Class A Warrants offered
hereby is expected to occur on or about December 10, 2025, subject to the satisfaction of certain customary closing conditions.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have agreed to pay the Placement Agent a total
cash fee equal to 7.5% of the aggregate gross proceeds raised in this offering and 1% of the gross proceeds of this offering as reimbursement
of for non-accountable expenses, up to $120,000 for all reasonable travel and out-of-pocket expenses including legal counsel fees and
costs, and up to $12,900 for its clearing or escrow agent expenses. We estimate the total offering expenses of this offering that will
be payable by us will be approximately $698,456. After deducting the Placement Agent&rsquo;s fees and our estimated offering expenses,
we expect the net proceeds from this offering to be approximately $4,341,544.</P>

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

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">The following table shows the per Class A
Ordinary Share and Class A Warrants and total cash fees we will pay to the Placement Agent in connection with the sale of the Class A
Ordinary Shares and Class A Warrants pursuant to this prospectus.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Per <BR> Class A<BR> Ordinary<BR> Share and<BR> Accompanying<BR> Class A<BR> Warrants</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: justify">Combined public offering price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">7.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">5,040,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Placement Agent fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.525</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">378,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Proceeds to us, before expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.475</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,662,000</TD><TD STYLE="text-align: left">&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; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></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>Tail</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; text-align: justify">We have also agreed to pay the Placement Agent
a tail fee equal to the cash compensation in this offering, if any investor who with our written approval was contacted or introduced
to us by the Placement Agent during the term of its engagement, provides us with capital in any public or private offering or other financing
of equity, debt or equity derivative instruments or capital raising transaction during the twelve-month period following expiration or
termination of the Engagement Agreement, subject to certain exceptions.</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>Right of First Refusal</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">As provided in the Engagement Agreement, we
and the Placement Agent agree that for a period of twelve (12) months from the closing date of this offering, we grant the Placement
Agent the right to provide investment banking services to us on an exclusive basis in the matters below, for which investment banking
services are sought by us (such right, the &ldquo;Right of First Refusal&rdquo;), which right is exercisable in the Placement Agent&rsquo;s
sole discretion. For these purposes, investment banking services shall include, (a) acting as lead or joint-lead manager for any underwritten
public offering; (b) acting as lead or joint book-runner and/or lead or joint placement agent, initial purchaser in connection with any
private offering of securities of the Company; and (c) acting as financial advisor in connection with any sale or other transfer by the
Company, directly or indirectly, of a majority or controlling portion of its capital stock or assets to another entity, any purchase
or other transfer by another entity, directly or indirectly, of a majority or controlling portion of the capital stock or assets of the
Company, and any merger or consolidation of the Company with another entity. The Placement Agent shall notify the Company of its intention
to exercise the Right of First Refusal within 15 business days following notice in writing by the Company. Any decision by the Placement
Agent to act in any such capacity shall be contained in separate agreements, which agreements would contain, among other matters, provisions
for customary fees for transactions of similar size and nature, as may be mutually agreed upon, and indemnification of the Placement
Agent and shall be subject to general market conditions. In compliance with FINRA Rule 5110(g)(6)(A), in no circumstances the Right of
First Refusal shall have a duration of more than three years from the commencement of sales of the public offering or the termination
date of the engagement between the Company and the Placement Agent. If the Placement Agent declines to exercise the Right of First Refusal,
the Company shall have the right to retain any other person or persons to provide such services on terms and conditions which are not
more favorable to such other person or persons than the terms declined by the Placement Agent. The Right of First Refusal granted hereunder
may be terminated by the Company for &quot;Cause,&quot; which shall mean a material breach by the Placement Agent of the Engagement Agreement
or a material failure by the Placement Agent to provide the services as contemplated by the Engagement Agreement.</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>Other Relationships</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; text-align: justify">From time to time, the Placement Agent or its
affiliates has provided, or may provide in the future, various advisory, investment and commercial banking and other services to us or
our affiliates in the ordinary course of business, for which it has or may receive customary fees and commissions. Except as disclosed
in this prospectus, we have no present arrangements with the Placement Agent for any services.</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; text-align: justify">In addition, in the ordinary course of their
business activities, the Placement Agent and its affiliates may make or hold a broad array of investments and actively trade debt and
equity securities (or related derivative securities) for their own account and for the accounts of their customers. Such investments
and securities activities may involve securities and/or instruments of ours or our affiliates. The Placement Agent and its affiliates
may also make investment recommendations and/or publish or express independent research views in respect of such securities or financial
instruments and may hold, or recommend to clients that they acquire, long and/or short positions in such securities and instruments.</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; text-align: justify"><B>Determination of Offering Price</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; text-align: justify">The combined public offering price per Class
A Ordinary Shares and Class A Warrants we are offering, and the exercise prices and other terms of the Class A Warrants were negotiated
between us and the investors, in consultation with the Placement Agent based on the trading of our Class A Ordinary Shares prior to this
offering, among other things. Other factors considered in determining the offering prices of the securities we are offering and the exercise
prices and other terms of the Class A Warrants include the history and prospects of our company, the stage of development of our business,
our business plans for the future and the extent to which they have been implemented, an assessment of our management, general conditions
of the securities markets at the time of the offering and such other factors as were deemed relevant.</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; 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>Lock-Up Agreements</B></P>

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

<P STYLE="margin: 0; text-align: justify">Each of our officers and directors and holders holding 5% or more of
the Company&rsquo;s issued and outstanding shares of Class A Ordinary Share have agreed with the placement agent to be subject to a lock-up
period of ninety (90) days following the date of closing of the offering pursuant to this prospectus. This means that, during the applicable
lock-up period, without the placement agent&rsquo;s prior written consent, we and such persons may not offer for sale, contract to sell,
sell, distribute, grant any option, right or warrant to purchase, pledge, hypothecate or otherwise dispose of, directly or indirectly,
any of our Class A Ordinary Shares or any securities convertible into, or exercisable or exchangeable for, Class A Ordinary Shares, subject
to customary exceptions. The Placement Agent may waive the terms of these lock-up agreements in its sole discretion and without notice.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>





<P STYLE="margin: 0; text-align: justify">In addition, we have also agreed to a similar lock-up restriction on
the issuance and sale of our securities for the forty-five (45) days following the closing of this offering, subject to certain exceptions.
In addition, we have agreed not issue any securities that are subject to a price reset based on the trading prices of our Class A Ordinary
Shares or upon a specified or contingent event in the future or enter into any agreement to issue securities at a future determined price
for a period of one (1) year following the closing date of this offering, subject to an exception.</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>Transfer Agent and Registrar</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; text-align: justify">The transfer agent and registrar for the Class
A Ordinary Shares is VStock Transfer, LLC.&nbsp;The transfer agent and registrar&rsquo;s address is 18 Lafayette Place, Woodmere, NY&nbsp;11598.<B>&nbsp;</B>There
is no established public trading market for the Class A Warrants, and we do not plan on making an application to list the Class A Warrants
on Nasdaq, any national securities exchange or other nationally recognized trading system. We will act as the registrar and transfer
agent for the Class A Warrants.</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; text-align: justify"><B>Nasdaq Listing</B></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">Our Class A Ordinary Shares are currently listed on The Nasdaq Capital
Market under the symbol &ldquo;TWG.&rdquo; On December 8, 2025, the last reported sale price per Class A Ordinary Share was $22.01. We
do not plan to list the Class A Warrants on The Nasdaq Capital Market or any other securities exchange or trading market.</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; text-align: justify"><B>Indemnification</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; text-align: justify">We have agreed to indemnify the Placement Agent
against certain liabilities, including liabilities under the Securities Act, or to contribute to payments the Placement Agent may be
required to make with respect to any of these liabilities.</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; text-align: justify"><B>Regulation M</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; text-align: justify">The Placement Agent may be deemed to be an underwriter
within the meaning of Section 2(a)(11) of the Securities Act and any fees received by it and any profit realized on the sale of the securities
by it while acting as principal might be deemed to be underwriting discounts or commissions under the Securities Act. The Placement Agent
will be required to comply with the requirements of the Securities Act and the Exchange Act, including, without limitation, Rule 10b-
5 and Regulation M under the Exchange Act. These rules and regulations may limit the timing of purchases and sales of our securities
by the Placement Agent. Under these rules and regulations, the Placement Agent may not (i) engage in any stabilization activity in connection
with our securities; and (ii) bid for or purchase any of our securities or attempt to induce any person to purchase any of our securities,
other than as permitted under the Exchange Act, until they have completed their participation in the distribution.</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; text-align: justify"><B>Electronic Offer, Sale and Distribution of
Securities</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; text-align: justify">A prospectus in electronic format may be made
available on the websites maintained by the Placement Agent, if any, participating in this offering and the Placement Agent may distribute
prospectuses electronically. Other than the prospectus in electronic format, the information on these websites is not part of this prospectus
or the registration statement of which this prospectus forms a part, has not been approved or endorsed by us or the Placement Agent,
and should not be relied upon by investors.</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: center"><B><A NAME="s_001"></A>ENFORCEABILITY OF CIVIL
LIABILITIES</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; text-align: justify">We are incorporated under the laws of the Cayman
Islands as an exempted company with limited liability. We are incorporated in the Cayman Islands because of certain benefits associated
with being a Cayman Islands exempted company, such as political and economic stability, an effective judicial system, a favorable tax
system, the absence of foreign exchange control or currency restrictions and the availability of professional and support services. However,
the Cayman Islands has a less developed body of securities laws than the United States and provides less protection for investors. In
addition, Cayman Islands companies may not have standing to sue before the federal courts of the United States.</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">Our constitutional documents do not contain provisions
requiring that disputes, including those arising under the securities laws of the United States, among us, our officers, directors and
shareholders, be arbitrated.</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">Substantially all of our assets are located outside
the United States. In addition, all of our directors and officers are nationals or residents of jurisdictions other than the United States
and all or a substantial portion of their assets are located outside the United States. As a result, it may be difficult for investors
to effect service of process within the United States upon us or these persons, or to enforce judgments obtained in U.S. courts against
us or them, including judgments predicated upon the civil liability provisions of the securities laws of the United States or any state
in the United States. It may also be difficult for you to enforce judgments obtained in U.S. courts based on the civil liability provisions
of the U.S. federal securities laws against us and our officers and directors.</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">We have appointed Cogency Global Inc. as our
agent upon whom process may be served in any action brought against us under the securities laws of the United States.</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>Cayman Islands</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">We have been advised by Ogier, our counsel as
to Cayman Islands laws, that it is uncertain whether the courts of the Cayman Islands will (i) recognize or enforce against us judgments
of courts of the United States based on certain civil liability provisions of U.S. securities laws; and (ii) entertain original actions
brought in the Cayman Islands against us or our directors or officers predicted upon the securities laws of the United States or any
state in the United States. In addition, there is uncertainty with regard to Cayman Islands law related to whether a judgment obtained
from the U.S. courts under civil liability provisions of U.S. securities laws will be determined by the courts of the Cayman Islands
as penal or punitive in nature. If such determination is made, the courts of the Cayman Islands will not recognize or enforce the judgment
against a Cayman Islands company, such as our company. As the courts of the Cayman Islands have yet to rule on making such a determination
in relation to judgments obtained from U.S. courts under civil liability provisions of U.S. securities laws, it is uncertain whether
such judgments would be enforceable in the Cayman Islands. We have been further advised by Ogier, our counsel as to Cayman Islands laws,
that although there is no statutory enforcement in the Cayman Islands of judgments obtained in the United States, in certain circumstances
a judgment obtained in such jurisdiction will be recognized and enforced in the courts of the Cayman Islands at common law, without any
re-examination or re-litigation of matters adjudicated upon, provided such judgment:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">is given
    by a foreign court of competent jurisdiction;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">imposes on the judgment
    debtor a liability to pay a liquidated sum for which the judgment has been given;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">is final;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">is not in respect of taxes,
    a fine or a penalty;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">was not obtained by fraud;
    and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">is not of a kind the enforcement
    of which is contrary to natural justice or the public policy of the Cayman Islands.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the above limitations, in appropriate
circumstances, a Cayman Islands court may give effect in the Cayman Islands to other kinds of final foreign judgments such as declaratory
orders, orders for performance of contracts and injunctions.</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>British Virgin Islands</B></P>

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

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">In addition, there is uncertainty as to whether
the courts of the British Virgin Islands would (i) recognize or enforce judgments of United States courts obtained against us or our
directors or officers predicated upon the civil liability provisions of the securities laws of the United States or any state in the
United States or (ii) entertain original actions brought in the British Virgin Islands against us or our directors or officers predicated
upon the securities laws of the United States or any state in the United States.</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">There is uncertainty with regard to British Virgin
Islands law as to whether a judgment obtained from the United States courts under civil liability provisions of the securities laws will
be determined by the courts of the British Virgin Islands as penal or punitive in nature. If such a determination is made, the courts
of the British Virgin Islands are also unlikely to recognize or enforce the judgment against a British Virgin Islands company. Because
the courts of the British Virgin Islands have yet to rule on whether such judgments are penal or punitive in nature, it is uncertain
whether they would be enforceable in the British Virgin Islands. Although there is no statutory enforcement in the British Virgin Islands
of judgments obtained in the federal or state courts of the United States, in certain circumstances a judgment obtained in such jurisdiction
may be recognized and enforced in the courts of the British Virgin Islands at common law, without any re-examination of the merits of
the underlying dispute, by an action commenced on the foreign judgment debt in the High Court of the British Virgin Islands, provided
such judgment:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">is given
    by a foreign court of competent jurisdiction and such foreign court had proper jurisdiction over the parties subject to such judgment;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">imposes on the judgment
    debtor a liability to pay a liquidated sum for which the judgment has been given;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">is final;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">no new admissible evidence
    relevant to the action is submitted prior to the rendering of the judgment by the courts of the British Virgin Islands;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">is not in respect of taxes,
    a fine, a penalty or similar fiscal or revenue obligations of the company;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">was not obtained in a fraudulent
    manner and is not of a kind the enforcement of which is contrary to natural justice or the public policy of the British Virgin Islands.</FONT></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; text-align: justify">In appropriate circumstances, a BVI Court may
give effect in the British Virgin Islands to other kinds of final foreign judgments such as declaratory orders, orders for performance
of contracts and injunctions.</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"><I>Original action in the British Virgin Islands
based upon the U.S. federal securities laws</I></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">If an action is capable of amounting to a cause
of action under common law and thus capable of being sustained as a cause of action in itself under English law then it may be possible
for such action to be brought in the British Virgin Islands. For example, if the action to be brought in the British Virgin Islands is
based on a provision within the U.S. federal securities laws which prohibits fraud, deceit or misrepresentation in the sale of securities,
an investor may be able to bring an original action in the British Virgin Islands if the facts and circumstances of their case amount
to an action for fraud, misrepresentation or deceit based solely on the common law without reference to or independent of the U.S. federal
securities laws.</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">However, where such action can only be based
on a particular provision within the U.S. federal securities laws, for example, such action that may relate to strict reporting or registration
requirements to particular bodies established under or recognized by such law (such as the SEC); it is very unlikely that such action
would have extra-territorial effect unless specifically stated within that law and recognized as having such effect under British Virgin
Islands law. Consequently, an investor would not be able to bring such an action in the British Virgin Islands in those circumstances.</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>Hong Kong</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">The judgment of United States courts will not
be directly enforced in Hong Kong. There are currently no treaties or other arrangements providing for reciprocal enforcement of foreign
judgments between Hong Kong and the United States. However, the common law permits an action to be brought upon a foreign judgment. That
is to say, a foreign judgment itself may form the basis of a cause of action since the judgment may be regarded as creating a debt between
the parties to it. In a common law action for enforcement of a foreign judgment in Hong Kong, the enforcement is subject to various conditions,
including but not limited to, that the foreign judgment is a final judgment conclusive upon the merits of the claim, the judgment is
for a liquidated amount in a civil matter and not in respect of taxes, fines, penalties, or similar charges, the proceedings in which
the judgment was obtained were not contrary to natural justice, and the enforcement of the judgment is not contrary to public policy
of Hong Kong. Such a judgment must be for a fixed sum and must also come from a &ldquo;competent&rdquo; court as determined by the private
international law rules applied by the Hong Kong courts. The defenses that are available to a defendant in a common law action brought
on the basis of a foreign judgment include lack of jurisdiction, breach of natural justice, fraud, and contrary to public policy. However,
a separate legal action for debt must be commenced in Hong Kong in order to recover such debt from the judgment debtor.</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: center"><B><A NAME="a_040"></A>EXPENSES RELATED TO THIS
OFFERING</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">Set forth below is an itemization of the total
expenses, other than placement agent fees and expenses to be paid by us in connection with this offering. With the exception of the SEC
registration fee and the FINRA filing fee, all amounts are estimates.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; text-align: left">SEC Registration Fee</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">2,900.10</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">FINRA Filing Fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,606.25</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Legal Fees and Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">130,000.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accounting Fees and Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">63,550.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Miscellaneous Expenses</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">498,400.00</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt">Total Expenses</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">698,456.35</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&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; text-align: center"><B><A NAME="a_041"></A>LEGAL MATTERS</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">We are being represented by Loeb &amp; Loeb
LLP with respect to certain legal matters as to U.S. federal securities law. The validity of the Class A Ordinary Shares offered hereby
and certain legal matters as to Cayman Islands law will be passed upon for us by Ogier, our counsel as to Cayman Islands law. Loeb &amp;
Loeb LLP may rely upon Ogier with respect to matters governed by the law of the Cayman Islands. Certain legal matters will be passed
upon for the Placement Agent by Mclaughlin &amp; Stern, LLP, New York, New York.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_042"></A>EXPERTS</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">The consolidated financial statements of Top
Wealth Group Holding Limited as of December 31, 2024 and 2023 incorporated in this prospectus by reference from the Annual Report on
Form 20-F for the year ended December 31, 2024 have been audited by Audit Alliance LLP (&ldquo;Audit Alliance&rdquo;) and OneStop Assurance
PAC, respectively, each as the Company&rsquo;s independent registered public accounting firm. Such financial statements have been so
incorporated in reliance upon the report of such firm given upon its authority as an expert in accounting and auditing.</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: center"><B><A NAME="a_043"></A>WHERE YOU CAN FIND ADDITIONAL
INFORMATION</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">We have filed with the SEC an annual report and
registration statement on Form F-1 (including amendments and exhibits to the registration statement) under the Securities Act with respect
to the Class A Ordinary Shares offered hereby. Our SEC filings are available to the public over the Internet at the SEC&rsquo;s website
at <I>http://www.sec.gov</I>. This prospectus, which constitutes a part of the registration statement, does not contain all of the information
set forth in the registration statement or the exhibits filed therewith. For further information about us and the Class A Ordinary Shares
offered hereby, reference is made to the registration statement and the exhibits filed therewith. Statements contained in this prospectus
regarding the contents of any contract or any other document that is filed as an exhibit to the registration statement are not necessarily
complete, and in each instance we refer you to the copy of such contract or other document filed as an exhibit to the registration statement.
However, statements in the prospectus contain the material provisions of such contracts, agreements and other documents.</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">We are subject to periodic reporting and other
informational requirements of the Exchange Act, as applicable to foreign private issuers. Accordingly, we will be required to file reports,
including annual reports on Form 20-F, and other information with the SEC. As a foreign private issuer, we are exempt from the rules
of the Exchange Act prescribing the furnishing and content of proxy statements to shareholders under the federal proxy rules contained
in Sections 14(a), (b), and (c) of the Exchange Act, and our executive officers, directors, and principal shareholders are exempt from
the reporting and short-swing profit recovery provisions contained in Section 16 of the Exchange Act.</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">In addition, we will not be required under the
Exchange Act to file periodic reports and financial statements with the SEC as frequently or as promptly as U.S. companies whose securities
are registered under the Exchange Act. A copy of the registration statement and the exhibits filed therewith may be inspected without
charge at the public reference room maintained by the SEC, located at 100 F Street, NE, Washington, DC 20549, and copies of all or any
part of the registration statement may be obtained from that office. Please call the SEC at 1-800-SEC-0330 for further information about
the public reference room. The SEC also maintains a website that contains reports, information statements and other information regarding
registrants that file electronically with the SEC. The address of the website is <I>www.sec.gov</I>.</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">We have maintained our website at <I>https://www.imperialcristalcaviar.com/
</I>and <I>https://ir.imperialcristalcaviar.com</I>. The registration statement and the documents referred to under &ldquo;Incorporation
of Certain Information by Reference&rdquo; are also available on our website. Information contained on, or that can be accessed through,
our website is not a part of, and shall not be incorporated by reference into, this prospectus.</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">No dealers, salesperson, or other person is authorized
to give any information or to represent anything not contained in this prospectus. You must not rely on any unauthorized information
or representations. This prospectus is an offer to sell only the securities offered hereby, but only under circumstances and in jurisdictions
where it is lawful to do so. The information contained in this prospectus is current only as of its date.</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-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

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<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; text-align: center"><A NAME="j_002"></A><B>INCORPORATION OF CERTAIN
INFORMATION BY REFERENCE</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">We file or furnish annual reports and reports
of foreign private issuer and other information with the SEC. These filings and other submissions contain important information that
does not appear in this prospectus. The SEC allows us to incorporate by reference information into this document. This means that we
can disclose important information to you by referring you to another document filed separately with the SEC. The information incorporated
by reference is considered to be a part of this document, exc<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ept
for any information superseded by information that is included directly in this prospectus or incorporated by reference subsequent to
the date of this prospectus.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
incorporate by reference the following documents or information that we have filed with the SEC:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1978057/000121390025044770/ea0242150-20f_top.htm">Form
                                            20-F</A> for the fiscal year ended December 31, 2024, filed with the SEC on May 16, 2025;
                                            and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            Reports of Foreign Private Issuer on Form 6-K furnished with the SEC on <A HREF="http://www.sec.gov/Archives/edgar/data/1978057/000121390025000006/ea0226400-6k_topwealth.htm">January
                                            2, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1978057/000121390025004769/ea0228114-6k_topwealth.htm">January
                                            21, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1978057/000121390025039434/ea0240845-6k_topwealth.htm">May
                                            5, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1978057/000121390025051056/ea0244017-6k_topwealth.htm">June
                                            4, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1978057/000121390025061679/ea0248220-6k_topwealth.htm">July
                                            7, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1978057/000121390025064936/ea0249341-6k_topwealth.htm">July
                                            17, 2025</A></FONT> and <A HREF="http://www.sec.gov/Archives/edgar/data/1978057/000121390025093929/ea0259459-6k_topwealth.htm">September
                                            30, 2025.</A></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Documents
incorporated by reference in this prospectus are available from us without charge upon written or oral request, excluding any exhibits
to those documents that are not specifically incorporated by reference into those documents. You ca</FONT>n obtain documents incorporated
by reference in this document by requesting them from us in writing at Top Wealth Group Holding Limited, Units 714 &amp; 715, 7/F, Hong
Kong Plaza, 188 Connaught Road West, Hong Kong or via telephone at +852 3615 8567.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>720,000 Class A Ordinary Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>720,000 Series A Class A Warrants to purchase
720,000 Class A Ordinary Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>720,000 Series B Class A Warrants to purchase
720,000 Class A Ordinary Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>1,440,000 Class A Ordinary Shares underlying
the Series A Class A Warrants and Series B Class A Warrants</I></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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

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



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<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; text-align: center"><I>Sole Placement Agent</I></P>

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

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

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Univest Securities, LLC<I>&nbsp;</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">December 9,
2025</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>

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

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