FORM 10-K FOR 12-31-23

 LUDUSON G INC. Form 10-K

 UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 WASHINGTON, D.C. 20549

 FORM 10-K

 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

 SECURITIES EXCHANGE ACT OF 1934

 For the fiscal year ended December 31, 2023

 OR

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

 SECURITIES EXCHANGE ACT OF 1934

 For the transition period from ______________ to ______________

 Commission file number: 000-55999

 (Exact name of registrant as specified in its charter)

 delaware

 82-3184409

 (State or other jurisdiction of

 (I.R.S. Employer

 incorporation or organization)

 Identification No.)

 35/F, Central Plaza, 18 Harbour Road

 Wanchai, Hong Kong

 00000

 (Address of principal executive offices)

 (zip code)

 Registrant's telephone number, including
area code: + 852 2824 8560

 Securities registered pursuant to Section 12(b)
of the Act: LDSN

 Securities registered pursuant to Section 12(g)
of the Act:

 Common Stock, $0.0001 par value

 Title of each class

 Indicate by check mark if
the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No

 Indicate
by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes
No

the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes No

the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T
(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to
submit such files). Yes No

the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions
of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of
the Exchange Act.

 Large accelerated filer

 Accelerated filer

 Non-accelerated filer

 Smaller reporting company

 Emerging growth company

 If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control
over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that
prepared or issued its audit report. Yes No

 If securities are registered
pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing
reflect the correction of an error to previously issued financial statements.

any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the
registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).

the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

 Indicate the number of shares
outstanding of each of the registrant's classes of common stock, as of the latest practicable date.

 Common Stock

 Outstanding as of March 07, 2024

 Common Stock, $.0001 par value per share

 508,466,410 shares

 The aggregate market value
of 53,020,000 shares of Common Stock of the registrant held by non-affiliates on December 29, 2023, the last business day of the registrant's
year ended December 31, 2023, computed by reference to the closing price reported by OTC Markets on that date is $11,293,260.

 DOCUMENTS INCORPORATED BY REFERENCE: None

 TABLE OF CONTENTS.

 Page

 Item 1

 Description of Business

 Item 1A

 Risk Factors

 Item 1B

 Unresolved Staff Comments

 3 4

 Item 1C

 Cybersecurity

 Item 2

 Properties

 Item 3

 Legal Proceedings

 Item 4

 Mine Safety Disclosures

 Item 5

 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

 Item 6

 Reserved

 3 6

 Item 7

 Management's Discussion and Analysis of Financial Condition and Results of Operation

 Item 7A

 Quantitative and Qualitative Disclosures about Market Risk

 Item 8

 Financial Statements and Supplementary Data

 Item 9

 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

 Item 9A

 Controls and Procedures

 Item 9B

 Other Information

 Item 9C

 Disclosure Regarding Foreign Jurisdictions That Prevent Inspections

 Item 10

 Directors and Executive Officers and Corporate Governance

 Item 11

 Executive Compensation

 Item 12

 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

 Item 13

 Certain Relationships and Related Transactions, and Director Independence

 Item 14

 Principal Accounting Fees and Services

 Item 15

 Exhibits, Financial Statement Schedules

 Item 16

 Form 10-K Summary

 Signatures

 i

 INTRODUCTORY COMMENTS

 We were incorporated under
the laws of the State of Delaware on March 6, 2014, under the name "Jovanovic-Steele, Inc." Our name was changed to Baja Custom
Designs, Inc. on October 26, 2017. On May 8, 2020, we acquired Luduson Holding Company Limited, a limited liability company organized
under the laws of British Virgin Islands ("LHCL"). the acquisition was originally for entering into the gaming technology
business. However, we disposed LHCL in April 2023 due to the laborious due diligence process and time staking. On May 24, 2023, we entered
into a Share Exchange Arrangement to acquire Glamourous Group Holding Limited, a limited liability company incorporated in the United
Kingdom of England and Whales. The acquisition is completed on July 06, 2023.

 We are a Delaware holding
company principally engaged in the business of building and fostering relationships between leading influencers and brands. We focus on
identifying and partnering with top influencers across a range of industries and social media platforms, through partnering with movie
studios and online ecosystems and production companies to promote their films through our influencer network, with the aim of eventually
producing such movies in-house. We are principally engaged in influencer management, commercial film production and online ecosystem development
company. Our target is to provide a unified entertainment universe for China market, Asia market and all overseas Chinese around the world.

 Our goal is to supercharge
influencers through Influencer Content Centers, Cinema for movies and special content, Game Halls (including VR, AR, MR games), Comic
and Animation Museum, Online Live Concert Stadium and Travel Sharing Center projects. Our target is to build an online and offline ecosystem
with great content. In addition, we plan to build a Movie Set Studio and a partner with well-known multimedia franchises to open Theme
Parks in Penang, Malaysia. The Studio will have a Hong Kong Style Street environment and an ancient China Town area for our filming. It
will also get profit from tourist visit and rent to other company for movie shooting. The theme park will include many attractions and
games in collaboration with partnered live action or animated series for fans across the movie and animation sector. Through this operation,
the Company will explore the animation market with a large number of fans around the world.

 We are a group of Creators,
experienced KOL managers, movie producers, directors, screenwriters, and a group of classic game developers, born in Hong Kong from 1970s
to 1990s. Our team has deep experience in game production and platform development. We are familiar with developing VR, AR and MR experiences
for our valuable fans, as well as the trendiest online ecosystem solutions. Our principal executive and registered offices are located
at 35/F, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong, telephone number +852 2824 8560.

 We are not a Chinese operating
company but a Delaware holding company with operations conducted through our wholly owned subsidiaries based in Hong Kong. Our holding
company structure presents unique risks as our investors may never directly hold equity interests in our Hong Kong subsidiaries and will
be dependent upon contributions from our subsidiaries to finance our cash flow needs. Our Hong Kong subsidiaries are currently not required
to obtain permission from the Chinese authorities including the China Securities Regulatory Commission, or CSRC, or Cybersecurity Administration
Committee, or CAC, to operate or to issue securities to foreign investors. The business of our subsidiaries until now are not subject
to cybersecurity review with the Cyberspace Administration of China, or CAC, given that: (i) data processed in our business does not have
a bearing on national security and thus may not be classified as core or important data by the authorities; (ii) we do not possess a large
amount of personal information in our business operations. In addition, we are not subject to merger control review by China's anti-monopoly
enforcement agency due to the level of our revenues which provided from us and audited by our auditor and the fact that we currently do
not expect to propose or implement any acquisition of control of, or decisive influence over, any company with revenues within China of
more than RMB400 million. Currently, these statements and regulatory actions have had no impact on our daily business operations, the
ability to accept foreign investments and list our securities on an U.S. or other foreign exchange. However, 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 our daily business operation, the ability to accept foreign investments
and list our securities on an U.S. or other foreign exchange.

 ii

 Further, in light of the
recent statements and regulatory actions by the PRC government, such as those related to Hong Kong's national security, the promulgation
of regulations prohibiting foreign ownership of Chinese companies operating in certain industries, which are constantly evolving, and
anti-monopoly concerns, we may be subject to the risks of uncertainty of any future actions of the PRC government in this regard, including
the risk that we inadvertently conclude that such approvals are not required, that applicable laws, regulations or interpretations change
such that we are required to obtain approvals in the future, which may result in a material change in our operations, including our ability
to continue our existing holding company structure, carry on our current business, accept foreign investments, and offer or continue to
offer securities to our investors, and the resulting adverse change in value to our common stock. We may also be subject to penalties
and sanctions imposed by the PRC regulatory agencies, including the Chinese Securities Regulatory Commission, if we fail to comply with
such rules and regulations, which could adversely affect the ability of the Company's securities to continue to trade on the Over-the-Counter
Bulletin Board, which may cause the value of our securities to significantly decline or become worthless. For a detailed description of
the risks facing the Company and the offering associated with our operations in Hong Kong, please refer to " Risk Factors –
Risk Factors Relating to Doing Business in Hong Kong " as disclosed herein.

 Risk Factor Summary

 In addition to the foregoing
risks, we face various legal and operational risks and uncertainties arising from doing business in Hong Kong as summarized below and
in "Risk Factors — Risks Relating to Doing Business in Hong Kong" as disclosed herein.

 Adverse changes in economic and political policies of the PRC government could have a material and adverse effect on overall economic growth in China and Hong Kong, which could materially and adversely affect our business.

 We are a holding company and will rely on dividends paid by our subsidiaries for our cash needs any limitation on the ability of our subsidiaries to make payments to us could have a material adverse effect on our ability to conduct business. We do not anticipate paying dividends in the foreseeable future; you should not buy our stock if you expect dividends.

 PRC regulation of loans to and direct investments in PRC entities by offshore holding companies may delay or prevent us from using the proceeds of this offering to make loans or additional capital contributions to our operating subsidiaries in Hong Kong.

 Substantial uncertainties exist with respect to the interpretation of the PRC Foreign Investment Law and how it may impact the viability of our current corporate structure, corporate governance and business operations.

 The Chinese government exerts substantial influence over, and can intervene at any time with little to no advance notice: (i) in the manner in which we operate and conduct our business activities; and (ii) offering conducted overseas and or foreign investment in China-based issuers, which could result in a material change in our operations and or the value of our securities. We are currently not required to obtain approval from Chinese authorities to list on U.S. exchanges. However, to the extent that the Chinese government exerts more control over offerings conducted overseas and/or foreign investment in Hong Kong-based issuers over time and if our subsidiaries or the holding company were required to obtain approval in the future and were denied permission from Chinese authorities to list on U.S. exchanges, we will not be able to continue listing on a U.S. exchange and the value of our common stock may significantly decline or become worthless, which would materially affect the interest of the investors.

 Governmental control of currency conversion may limit our ability to utilize our revenues effectively and affect the value of your investment.

 We may become subject to a variety of laws and regulations in the PRC regarding privacy, data security, cybersecurity, and data protection. We may be liable for improper use or appropriation of personal information provided by our customers.

 Under the Enterprise Income Tax Law, we may be classified as a "Resident Enterprise" of China. Such classification will likely result in unfavorable tax consequences to us and our non-PRC shareholders.

 PRC regulation of loans to, and direct investments in, Hong Kong entities by offshore holding companies may delay or prevent us from using proceeds from this offering and/or future financing activities to make loans or additional capital contributions to our Hong Kong operating subsidiaries.

 Failure to comply with PRC regulations relating to the establishment of offshore special purpose companies by PRC residents may subject our PRC resident Shareholders to personal liability, may limit our ability to acquire Hong Kong and PRC companies or to inject capital into our Hong Kong subsidiaries, may limit the ability of our Hong Kong subsidiaries to distribute profits to us or may otherwise materially and adversely affect us.

 iii

 The recent joint statement by the SEC and PCAOB, and the Holding Foreign Companies Accountable Act all call for additional and more stringent criteria to be applied to emerging market companies upon assessing the qualification of their auditors, especially the non-U.S. auditors who are not inspected by the PCAOB. Trading in our securities may be prohibited under the Holding Foreign Companies Accountable Act and the Accelerating the Holding Foreign Companies Accountable Act if the PCAOB determines that it cannot inspect or investigate completely our auditor, and that as a result an exchange may determine to delist our securities. On June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act (HFCAA) which would reduce the number of consecutive non-inspection years required for triggering the prohibitions under the HFCAA from three years to two thus reducing the time before our securities may be prohibited from trading or being delisted. On December 2, 2021, the U.S. Securities and Exchange Commission adopted rules to implement the HFCAA. Pursuant to the HFCAA, the Public Company Accounting Oversight Board (PCAOB) issued its report notifying the Commission that it is unable to inspect or investigate completely accounting firms headquartered in mainland China or Hong Kong due to positions taken by authorities in mainland China and Hong Kong. Our auditor is located in Malaysia and not subject to the determinations announced by the PCAOB on December 16, 2021. However, in the event the Malaysian authorities subsequently take a position disallowing the PCAOB to inspect our auditor, then we would need to change our auditor to avoid having our securities delisted. Please see "Risk Factors- The Holding Foreign Companies Accountable Act requires the Public Company Accounting Oversight Board (PCAOB) to be permitted to inspect the issuer's public accounting firm within three years. This three-year period will be shortened to two years if the Accelerating Holding Foreign Companies Accountable Act is enacted. There are uncertainties under the PRC Securities Law relating to the procedures and requisite timing for the U.S. securities regulatory agencies to conduct investigations and collect evidence within the territory of the PRC. If the U.S. securities regulatory agencies are unable to conduct such investigations, they may suspend or de-register our registration with the SEC and delist our securities from applicable trading market within the US."

 You may be subject to PRC income tax on dividends from us or on any gain realized on the transfer of shares of our common stock.

 We face uncertainties with respect to indirect transfers of equity interests in PRC resident enterprises by their non-PRC holding companies.

 We are organized under the laws of the State of Delaware as a holding company that conducts its business through a number of subsidiaries organized under the laws of foreign jurisdictions such as Hong Kong. This may have an adverse impact on the ability of U.S. investors to enforce a judgment obtained in U.S. Courts against these entities, bring actions in Hong Kong against us or our management or to effect service of process on the officers and directors managing the foreign subsidiaries.

 U.S. regulatory bodies may be limited in their ability to conduct investigations or inspections of our operations in Hong Kong.

 There are significant uncertainties under the EIT Law relating to the withholding tax liabilities of PRC subsidiaries, and dividends payable by PRC subsidiaries to our offshore subsidiaries may not qualify to enjoy certain treaty benefits.

 Transfers of Cash to and from Our Subsidiaries

 Luduson G Inc. is a
Delaware holding company with no operations of its own. We conduct our operations in Hong Kong primarily through our subsidiaries in Hong
Kong. We may rely on dividends to be paid by our Hong Kong subsidiaries to fund our cash and financing requirements, including the funds
necessary to pay dividends and other cash distributions to our shareholders, to service any debt we may incur and to pay our operating
expenses. If our Hong Kong subsidiaries incur debt on their own behalf in the future, the instruments governing the debt may restrict
their ability to pay dividends or make other distributions to us.

 Luduson G Inc. is permitted
under the Delaware laws to provide funding to our subsidiaries in Hong Kong through loans or capital contributions without restrictions
on the amount of the funds, subject to satisfaction of applicable government registration, approval and filing requirements. As of the
date of this prospectus, there has been no dividends or distributions among the holding company or the subsidiaries.

 We currently intend to retain
all available funds and future earnings, if any, for the operation and expansion of our business and do not anticipate declaring or paying
any dividends in the foreseeable future. Any future determination related to our dividend policy will be made at the discretion of our
board of directors after considering our financial condition, results of operations, capital requirements, contractual requirements, business
prospects and other factors the board of directors deems relevant, and subject to the restrictions contained in any future financing instruments.

 Subject to the Nevada Revised
Statutes and our bylaws, our board of directors may authorize and declare a dividend to shareholders at such time and of such an amount
as they think fit if they are satisfied, on reasonable grounds, that immediately following the dividend the value of our assets will exceed
our liabilities and we will be able to pay our debts as they become due. There is no further Nevada statutory restriction on the amount
of funds which may be distributed by us by dividend.

 iv

 Under the current practice
of the Inland Revenue Department of Hong Kong, no tax is payable in Hong Kong in respect of dividends paid by us. There are
no restrictions or limitation under the laws of Hong Kong imposed on the conversion of HK dollar into foreign currencies and the remittance
of currencies out of Hong Kong or across borders and to U.S investors.

 Current PRC regulations permit
PRC subsidiaries to pay dividends to Hong Kong subsidiaries only out of their accumulated profits, if any, determined in accordance with
Chinese accounting standards and regulations. In addition, each of our subsidiaries in China is required to set aside at least 10% of
its after-tax profits each year, if any, to fund a statutory reserve until such reserve reaches 50% of its registered capital. Each of
such entity in China is also required to further set aside a portion of its after-tax profits to fund the employee welfare fund, although
the amount to be set aside, if any, is determined at the discretion of its board of directors. Although the statutory reserves can be
used, among other ways, to increase the registered capital and eliminate future losses in excess of retained earnings of the respective
companies, the reserve funds are not distributable as cash dividends except in the event of liquidation. As of the date of this prospectus,
we do not have any PRC subsidiaries.

 The PRC government also imposes
controls on the conversion of RMB into foreign currencies and the remittance of currencies out of the PRC. Therefore, we may experience
difficulties in completing the administrative procedures necessary to obtain and remit foreign currency for the payment of dividends from
our profits, if any. Furthermore, if our subsidiaries in the PRC incur debt on their own in the future, the instruments governing the
debt may restrict their ability to pay dividends or make other payments. If we or our subsidiaries are unable to receive all of the revenues
from our operations, we may be unable to pay dividends on our common stock.

 Cash dividends, if any, on
our common stock will be paid in U.S. dollars. If we are considered a PRC tax resident enterprise for tax purposes, any dividends we pay
to our overseas shareholders may be regarded as China-sourced income and as a result may be subject to PRC withholding tax at a rate of
up to 10.0%.

 If in the future we have
PRC subsidiaries, certain payments from such PRC subsidiaries to Hong Kong subsidiaries will be subject to PRC taxes, including business
taxes and VAT. As of the date of this prospectus, we do not have any PRC subsidiaries and our Hong Kong subsidiary has not made any transfers
or distributions.

 Pursuant to the Arrangement
between Mainland China and the Hong Kong Special Administrative Region for the Avoidance of Double Taxation and Tax Evasion on Income,
or the Double Tax Avoidance Arrangement, the 10% withholding tax rate may be lowered to 5% if a Hong Kong resident enterprise owns no
less than 25% of a PRC entity. However, the 5% withholding tax rate does not automatically apply and certain requirements must be satisfied,
including, without limitation, that (a) the Hong Kong entity must be the beneficial owner of the relevant dividends; and (b) the Hong
Kong entity must directly hold no less than 25% share ownership in the PRC entity during the 12 consecutive months preceding its receipt
of the dividends. In current practice, a Hong Kong entity must obtain a tax resident certificate from the Hong Kong tax authority to apply
for the 5% lower PRC withholding tax rate. As the Hong Kong tax authority will issue such a tax resident certificate on a case-by-case
basis, we cannot assure you that we will be able to obtain the tax resident certificate from the relevant Hong Kong tax authority and
enjoy the preferential withholding tax rate of 5% under the Double Taxation Arrangement with respect to dividends to be paid by a PRC
subsidiary to its immediate holding company. As of the date of this prospectus, we do not have a PRC subsidiary. In the event that we
acquire or form a PRC subsidiary in the future and such PRC subsidiary desires to declare and pay dividends to our Hong Kong subsidiary,
our Hong Kong subsidiary will be required to apply for the tax resident certificate from the relevant Hong Kong tax authority. In such
event, we plan to inform the investors through SEC filings, such as a current report on Form 8-K, prior to such actions. See "Risk
Factors – Risk Factors Relating to Doing Business in Hong Kong."

 v

 CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

 This Annual Report on Form
10-K includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended that are not historical facts, and involve risks and uncertainties that
could cause actual results to differ materially from those expected and projected. All statements, other than statements of historical
facts, included in this Form 10-K including, without limitation, statements in the "Market Overview" and "Management's
Discussion and Analysis of Financial Condition and Results of Operations" regarding the Company's market projections, financial
position, business strategy and the plans and objectives of management for future operations, events or developments which the Company
expects or anticipates will or may occur in the future, including such things as future capital expenditures (including the amount and
nature thereof); expansion and growth of the Company's business and operations; and other such matters are forward-looking statements.
These statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical
trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances.
However, whether actual results or developments will conform with the Company's expectations and predictions is subject to a number of
risks and uncertainties, including general economic, market and business conditions; the business opportunities (or lack thereof) that
may be presented to and pursued by the Company; changes in laws or regulation; and other factors, most of which are beyond the control
of the Company.

 These forward-looking statements
can be identified by the use of predictive, future-tense or forward-looking terminology, such as believes, anticipates,
 expects, estimates, plans, may, will, or similar terms. These statements appear
in a number of places in this filing and include statements regarding the intent, belief or current expectations of the Company, and its
directors or its officers with respect to, among other things: (i) trends affecting the Company's financial condition or results of operations
for its limited history; (ii) the Company's business and growth strategies; and, (iii) the Company's financing plans. Investors are cautioned
that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and
that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Such
factors that could adversely affect actual results and performance include, but are not limited to, the Company's limited operating history,
potential fluctuations in quarterly operating results and expenses, government regulation, technological change and competition. For information
identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements,
please refer to the Risk Factors section herein.

 Consequently, all of the
forward-looking statements made in this Form 10-K are qualified by these cautionary statements and there can be no assurance that the
actual results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the
expected consequence to or effects on the Company or its business or operations. The Company assumes no obligations to update any such
forward-looking statements.

 vi

 ITEM 1. DESCRIPTION OF BUSINESS.

 Overview

 We were incorporated under
the laws of the State of Delaware on March 6, 2014, under the name "Jovanovic-Steele, Inc." Our name was changed to Baja Custom
Designs, Inc. on October 26, 2017. On May 8, 2020, we acquired Luduson Holding Company Limited, a limited liability company organized
under the laws of British Virgin Islands ("LHCL"). the acquisition was originally for entering into the gaming technology
business. However, we disposed LHCL in April 2023 due to the laborious due diligence process and time staking. On May 24, 2023, we entered
into a Share Exchange Arrangement to acquire Glamourous Group Holding Limited, a limited liability company incorporated in the United
Kingdom of England and Whales. The acquisition is completed on July 06, 2023. On 26 September, Glamourous Group Holding Limited (UK) has
been merged and replaced with a Hong Kong entity, Glamourous Holdings International Company Limited as part of group restructuring. The
Company have also roll in Glamourous Holdings Company Limited (HK) as part of the group restructuring. As a result of the group restructuring,
our corporate structure is below:

 We are a Delaware holding
company principally engaged in the business of building and fostering relationships between leading influencers and brands. We focus on
identifying and partnering with top influencers across a range of industries and social media platforms, through partnering with movie
studios and online ecosystems and production companies to promote their films through our influencer network, with the aim of eventually
producing such movies in-house. We are principally engaged in influencer management, commercial film production and online ecosystem development
company. Our target is to provide a unified entertainment universe for China market, Asia market and all overseas Chinese around the world.

 Our goal is to supercharge
influencers through Influencer Content Centers, Cinema for movies and special content, Game Halls (including VR, AR, MR games), Comic
and Animation Museum, Online Live Concert Stadium and Travel Sharing Center projects. Our target is to build an online and offline ecosystem
with great content. In addition, we plan to build a Movie Set Studio and a partner with well-known multimedia franchises to open Theme
Parks in Penang, Malaysia. The Studio will have a Hong Kong Style Street environment and an ancient China Town area for our filming. It
will also get profit from tourist visit and rent to other company for movie shooting. The theme park will include many attractions and
games in collaboration with partnered live action or animated series for fans across the movie and animation sector. Through this operation,
the Company will explore the animation market with a large number of fans around the world.

 We are a group of Creators,
experienced KOL managers, movie producers, directors, screenwriters, and a group of classic game developers, born in Hong Kong from 1970s
to 1990s. Our team has deep experience in game production and platform development. We are familiar with developing VR, AR and MR experiences
for our valuable fans, as well as the trendiest online ecosystem solutions. Our principal executive and registered offices are located
at 35/F, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong, telephone number +852 2824 8560.

 We are not a Chinese operating
company but a Delaware holding company with operations conducted through our wholly owned subsidiaries based in Hong Kong. Our holding
company structure presents unique risks as our investors may never directly hold equity interests in our Hong Kong subsidiaries and will
be dependent upon contributions from our subsidiaries to finance our cash flow needs. Our Hong Kong subsidiaries are currently not required
to obtain permission from the Chinese authorities including the China Securities Regulatory Commission, or CSRC, or Cybersecurity Administration
Committee, or CAC, to operate or to issue securities to foreign investors. The business of our subsidiaries until now are not subject
to cybersecurity review with the Cyberspace Administration of China, or CAC, given that: (i) data processed in our business does not have
a bearing on national security and thus may not be classified as core or important data by the authorities; (ii) we do not possess a large
amount of personal information in our business operations. In addition, we are not subject to merger control review by China's anti-monopoly
enforcement agency due to the level of our revenues which provided from us and audited by our auditor and the fact that we currently do
not expect to propose or implement any acquisition of control of, or decisive influence over, any company with revenues within China of
more than RMB400 million. Currently, these statements and regulatory actions have had no impact on our daily business operations, the
ability to accept foreign investments and list our securities on an U.S. or other foreign exchange. However, 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 our daily business operation, the ability to accept foreign investments
and list our securities on an U.S. or other foreign exchange.

 Further, in light of the
recent statements and regulatory actions by the PRC government, such as those related to Hong Kong's national security, the promulgation
of regulations prohibiting foreign ownership of Chinese companies operating in certain industries, which are constantly evolving, and
anti-monopoly concerns, we may be subject to the risks of uncertainty of any future actions of the PRC government in this regard, including
the risk that we inadvertently conclude that such approvals are not required, that applicable laws, regulations or interpretations change
such that we are required to obtain approvals in the future, which may result in a material change in our operations, including our ability
to continue our existing holding company structure, carry on our current business, accept foreign investments, and offer or continue to
offer securities to our investors, and the resulting adverse change in value to our common stock. We may also be subject to penalties
and sanctions imposed by the PRC regulatory agencies, including the Chinese Securities Regulatory Commission, if we fail to comply with
such rules and regulations, which could adversely affect the ability of the Company's securities to continue to trade on the Over-the-Counter
Bulletin Board, which may cause the value of our securities to significantly decline or become worthless. For a detailed description of
the risks facing the Company and the offering associated with our operations in Hong Kong, please refer to " Risk Factors –
Risk Factors Relating to Doing Business in Hong Kong."

 History

 We were established as part
of the Chapter 11 Plan of Reorganization of Pacific Shores Development, Inc. ( PSD). PSD and its subsidiary, Jovanovic-Steele,
were in the real estate development business, and the real estate crash and the recession of 2008 made it impossible for them to obtain
the financing needed to carry on their projects. In 2010, PSD filed for chapter 11 bankruptcy protection. The U.S. Bankruptcy Court for
the Southern District of California ordered the incorporation of the Company and the distribution of the following securities:

 80,000 shares of the Company's common stock were distributed to all general unsecured creditors of PSD on a pro rata basis according to amount of debt held;

 500,000 shares of the Company's common stock were distributed to all administrative creditors of PSD, with these creditors receiving one share of common stock in the Company for each $0.10 of PSD's administrative debt held;

 2,500,000 common stock purchase warrants of the Company were distributed to all administrative creditors of PSD, with these creditors receiving five common stock purchase warrants of the Company for each $0.10 of PSD's administrative debt held. The 2,500,000 warrants consisted of 500,000 A Warrants each convertible into one share of common stock at an exercise price of $4.00; 500,000 B Warrants each convertible into one share of common stock at an exercise price of $5.00; 500,000 C Warrants each convertible into one share of common stock at an exercise price of $6.00; 500,000 D Warrants each convertible into one share of common stock at an exercise price of $7.00; and 500,000 E Warrants each convertible into one share of common stock at an exercise price of $8.00. All warrants are exercisable at any time prior to August 30, 2020.

 The exercise price of the
warrants was reduced to $0.10 per share on April 7, 2020, and on April 15, 2020, the warrant expiration date was extended to August 30,
2025.

 On March 6, 2014, we issued
20,000 common shares for services at par value, $0.0001 per share, for total value of $2. On June 16, 2014, we issued a total of 15,000,000
common shares for services at par value, $0.0001 per share, for total value of $1,500. On August 1, 2017, we issued a total of 10,000
common shares for services at par value, $0.0001 per share, for a total value of $1.

 On April 3, 2020, Linda Masters,
the Company's then Chief Executive Officer and President, entered into a Stock Purchase Agreement (the "2020 SPA"),
pursuant to which Ms. Masters agreed to sell to Lan CHAN 14,960,000 shares of common stock of the Company, par value $0.0001 (the "Shares"),
representing approximately 95.8% of the issued and outstanding common stock of the Company, for aggregate consideration of Three Hundred
Ninety One Thousand Dollars ($391,000) in accordance with the terms and conditions of the 2020 SPA. The acquisition of the Shares
consummated on April 15, 2020, and was purchased by Lan CHAN with his personal funds. As a result of the acquisition, Mr. Chan holds a
controlling interest in the Company and may unilaterally determine the election of the Board and other substantive matters requiring approval
of the Company's stockholders.

 Upon the consummation of
the sale of the Shares, Linda Masters, the Company's then Chief Executive Officer, President and director, and Kathleen Chula, the
Company's then Vice President and Director, resigned from all of their positions with the Company, effective April 15, 2020. Their
resignations were not due to any dispute or disagreement with the Company on any matter relating to the Company's operations, policies
or practices.

 Concurrently with such resignations,
Lan CHAN was appointed to serve as the Chief Executive Officer, Chief Financial Officer, President, Secretary and sole Director of the
Company, until the next annual meeting of stockholders of the Company and until such director's successor is elected and qualified
or until such director's earlier death, resignation or removal. None of the directors or executive officers has a direct family
relationship with any of the Company's directors or executive officers, or any person nominated or chosen by the Company to become
a director or executive officer. Mr. Chan will serve in his positions without compensation. The Company hopes to enter into a compensatory
arrangement with each officer in the future.

 Acquisition of LHCL

 On May 8, 2020, we executed
a Share Exchange Agreement, or the "Share Exchange Agreement," with Luduson Holding Company Limited, a limited liability
company organized under the laws of British Virgin Islands, or "LHCL," and the shareholders of LHCL. Pursuant to the Share
Exchange Agreement, we purchased Ten Thousand (10,000) shares of LHCL, or the "LHCL Shares," representing all of the issued
and outstanding shares of common stock of LHCL. As consideration, we agreed to issue to the shareholders of LHCL Ten Million (10,000,000)
shares of our common stock, at a value of US $0.10 per share, for an aggregate value of US $1,000,000. We consummated the acquisition
of LHCL on May 22, 2020. LHCL is a business-to-business gaming technology company. As a result of our acquisition of LHCL, we entered
into the business-to-business gaming technology industry.

 Investment Agreement with Strattner Alternative
Credit Fund LP

 The Company is a party to
an Investment Agreement dated as of April 6, 2021, or the "Investment Agreement," with Strattner pursuant to which Strattner
is committed to purchase up to $5,000,000, or the "Strattner Total Commitment," worth of the Company's common stock,
$0.0001 par value, over the 36-month term of the Investment Agreement.

 From time to time over the
term of the Investment Agreement, commencing on the trading day immediately following the date on which the initial registration statement
is declared effective by the Securities and Exchange Commission, or the "Commission," as further discussed below, the Company
may, in its sole discretion, provide Strattner with written notices, or a "Strattner Put Notice," stating the amount of Common
Shares of the Company that the Company intends to sell to Strattner, or the "Strattner Put Amount," with each put subject
to the limitations discussed below. The maximum amount of common stock that the Company shall be entitled to put to Strattner under any
applicable put notice, or the "Maximum Strattner Put Amount," shall be an amount of shares up to or equal to 200% of the average
of the daily trading volume of our common stock for the ten (10) consecutive trading days immediately prior to the applicable date on
which we make our put to Strattner, so long as such amount is at least $5,000 and does not exceed $250,000, as calculated by multiplying
the number of shares under our put by the average daily volume weighted average price for the 10 consecutive trading days immediately
prior to the applicable date we submit our put to Strattner.

 Once presented with a Strattner
Put Notice, Strattner is required to purchase the number of Strattner Put Shares underlying the Strattner Put Notice. The per share purchase
price for the Common Shares subject to a Strattner Put Notice shall be equal to 85% of the lowest volume weighted average price of the
Common Shares during the five (5) consecutive trading days including and immediately following the applicable Strattner Put Notice date,
provided, however, an additional 10% will be added to the discount of each Put if (i) the Company is not DWAC eligible and (ii) an additional
15% will be added to the discount of each Put if the Company is under DTC "chill" status on the applicable Strattner Put Notice
Date.

 Among other conditions, the
Company is prohibited from issuing a Strattner Put Notice if (i) the amount requested in such Strattner Put Notice exceeds Two Hundred
Fifty Thousand Dollars ($250,000), as calculated by multiplying the Strattner Put Amount by the average daily VWAP for the ten (10) consecutive
trading days immediately prior to the applicable Strattner Put Notice Date, (ii) the sale of Shares pursuant to such Strattner Put Notice
would cause the Company to issue or sell or Strattner to acquire or purchase an aggregate dollar value of Shares that would exceed Five
Million Dollars ($5,000,0000), or (iii) the sale of Shares pursuant to the Strattner Put Notice would cause the Company to sell or Strattner
to purchase an aggregate number of shares of the Company's common stock which would result in beneficial ownership by Strattner
of more than 9.99% of the Company's common stock (as calculated pursuant to Section 13(d) of the Securities Exchange Act of 1934,
as amended, and the rules and regulations thereunder). The Company cannot make more than one put in any pricing period and must allow
10 days to elapse between the completion of the settlement of any one put and the commencement of a pricing period for any other put.

 Registration Rights Agreement with Strattner
Alternative Credit Fund LP

 In connection with the execution
of the Investment Agreement, on April 6, 2021, the Company and Strattner also entered into a Registration Rights Agreement, or the "Strattner
Registration Rights Agreement." Pursuant to the Registration Rights Agreement, the Company has agreed to file an initial registration
statement, the "Registration Statement," with the Commission to register an agreed upon number of Strattner Put Shares, on
or prior to July 5, 2021, or the "Filing Deadline," and have it declared effective on or before the 150th calendar day the
Company has filed the Registration Rights Agreement, or the "Effectiveness Deadline." Notwithstanding anything to the contrary,
the Company is not obligated to file Registration Statements with respect to securities not issued pursuant to the Investment Agreement.

 If at any time all of the Registrable Securities (as defined in the
Registration Rights Agreement) are not covered by the initial Registration Statement, the Company has agreed to file with the Commission
one or more additional Registration Statements so as to cover all of the Registrable Securities not covered by such initial Registration
Statement, in each case, as soon as practicable, but in no event later than the applicable filing deadline for such additional Registration
Statements as provided in the Registration Rights Agreement.

 Equity Purchase Agreement with Williamsburg
Venture Holdings, LLC

 The Company is a party to
an Equity Purchase Agreement dated August 20, 2021, or the "Equity Purchase Agreement," pursuant to which Williamsburg is
committed to purchase up to $30,000,000 worth of the Company's common stock, $0.0001 par value, over the 36-month term of the Equity
Purchase Agreement, or the "Williamsburg Total Commitment". From time to time over the term of the Equity Purchase Agreement,
the Company may, in its sole discretion, provide Williamsburg with written notices, or a "Williamsburg Put Notice," stating
the amount of Common Shares of the Company that the Company intends to sell to Williamsburg, or the "Williamsburg Put Amount."
Once presented with a Williamsburg Put Notice, Williamsburg is required to purchase the number of Williamsburg Put Shares underlying the
Williamsburg Put Notice with each put subject to the limitations discussed below.

 The per share purchase price
for the Williamsburg Put Shares shall be equal to 88% the lowest traded price of the Common Stock on the principal market during the five
(5) consecutive trading days immediately preceding the date which Williamsburg received the Williamsburg Put Shares as DWAC Shares in
its brokerage account (as reported by Bloomberg Finance L.P., Quotestream, or other reputable source).

 The exercise of each put
option is subject to the following limitations:

 (i)

 each investment amount must be at least than $25,000 and not in excess of an amount that equals the lesser of (i) 200% of the average daily trading volume, and (ii) $500,000;

 (ii)

 the aggregate investment amount of all option puts shall not exceed $30,000,000;

 (iii)

 the lowest traded price of the Common Stock in the five trading days preceding the respective Put Date must exceed $0.01 per share; and

 (iv)

 at least ten trading days must have lapsed since the most recent Put Notice.

 The Equity Purchase Agreement
provides that the number of Williamsburg Put Shares to be sold to Williamsburg shall not exceed the number of shares that when aggregated
together with all other shares of the Company's common stock which Williamsburg is deemed to beneficially own, would result in Williamsburg
owning more than 4.99% of the Company's outstanding common stock (as calculated pursuant to Section 13(d) of the Securities Exchange
Act of 1934, as amended, and the rules and regulations thereunder). The Equity Purchase Agreement provides that any provision of the Investment
Agreement may be amended or waived only by an instrument in writing signed by the party to be charged with enforcement.

 The Company has paid to Williamsburg
a commitment fee equal in the form of 100,000 restricted shares of the Company's common stock (the "Williamsburg Initial Commitment
Shares").

 Registration Rights Agreement with Williamsburg
Venture Holdings, LLC

 In connection with the Equity
Purchase Agreement, on August 20, 2021, the Company and Williamsburg also entered into a Registration Rights Agreement, or the "Williamsburg
Registration Rights Agreement." Pursuant to the Williamsburg Registration Rights Agreement, the Company has agreed to file an initial
registration statement, or the "Registration Statement," with the Commission to register the Williamsburg Initial Commitment
Shares and that number of Williamsburg Put Shares as set forth in the Williamsburg Registration Rights Agreement, within 90 days after
the execution date, or the "Filing Deadline.".

 If at any time all of the
Registrable Securities (as defined in the Registration Rights Agreement) are not covered by the initial Registration Statement, the Company
has agreed to file with the Commission one or more additional Registration Statements so as to cover all of the Registrable Securities
not covered by such initial Registration Statement, in each case, as soon as practicable, but in no event later than the applicable filing
deadline for such additional Registration Statements as provided in the Registration Rights Agreement.

 Reverse Acquisition and
Spin-Out

 On July 06, 2023, the Company
completed the Reverse Takeover of Glamourous Group Holding Limited ("GGHI"), a limited liability company incorporated in the
United Kingdom of England and Wales, by the issuance of 320,000,000 common shares to Ho Chi Wan, the sole shareholder of GGHI, on July
01, 2023. The issuance of the shares was exempt from registration under the Securities Act of 1933 pursuant to Section 4(a)(2) thereof
on the basis that the transaction did not involve a public offering. The shares are subject to restrictions on resale pursuant to Commission
Rule 144 under the Securities Act.

 As of May 24, 2023, the Company
disposed of the investment in unlisted shares ("Unlisted Shares"), which are the subsidiaries that had been deconsolidated
on May 12, 2023, to Mr. Lan CHAN, a substantial shareholder of the Company at a consideration of $2,821. The Unlisted Shares were classified
as a financial asset at fair value through profit or loss at a carrying value of $2,821 as of the disposal date. There was no gain or
loss arising from the disposal.

 The Company issued an equivalent
of 91.9% fully diluted shares to the business owner of the Target, Ms Ho Chi Wan, in exchange for 100% of the Target and the whole operation.
After such a transaction, Ms Wan gained control of the Company and in effect completed a business combination of the Target with the Company,
resulting in a reverse acquisition (the "Reverse Acquisition"). Glamourous Group Holding Limited includes an experienced team
with full employment contracts, expertise, and customer and supplier list, but has immaterial tangible assets and liabilities. The estimated
NAV is foreseen to create a big profit for the Company, with more than 1,000 Greater China influencers having a very dominant track record
in the Hong Kong movie industry. At the same time, the deconsolidated entities will be returned to the former Director(s) (the "Spin-out").

 Group Restructuring

 On 26 September, Glamourous
Group Holding Limited (UK) has been merged and replaced with a Hong Kong entity, Glamorous Holdings International Company Limited as part
of group restructuring. The Company have also roll in Glamourous Holdings Company Limited (HK) as part of the group restructuring.

 Our Products and Services

 We provide influencer and
Key Opinion Leader (KOL) management that helps influencer and KOL build and foster relationships between brands for marketing and online
live selling opportunities.

 We also plan to produce Hong
Kong style action movie and arrange these influencers and KOLs to perform as actors and actresses. Hong Kong style action movies, especially
the content of Kung Fu action and gunfight are famous all around the world with huge box office potential in China and the Asia market.
Besides getting box office profit from the movies, our influencers and KOLs will gain more exposure through our movies and be able to
land higher in both quantity and value of marketing and online live selling opportunities.

 We plan to use AI technology
to develop online and mobile games that is based on the stories of our Hong Kong style action movies to make our audience more invested
and allow them to explore the side stories of our Hong Kong style action movies. Over 80% of content along with character design and game
stage design of these games will be developed through AI technology, which will be supervised by our human game producer.

 In addition, we plan to build
a Movie Set Studio and a partner with well-known multimedia franchises to open Theme Parks in Penang, Malaysia. The Studio will have a
Hong Kong Style Street environment and an ancient China Town area for our filming. It will also get profit from tourist visit and rent
to other company for movie shooting. The theme park will include many attractions and games in collaboration with partnered live action
or animated series for fans across the movie and animation sector. Through this operation, we will explore the animation market with a
large number of fans around the world.

 Markets and Regions

 The entertainment industry
in China and the Asia market has witnessed a remarkable surge in recent years, driven by booming economies, increasing disposable income,
and the growing demand for digital content consumption. Along with the rise of online video and movie streaming platforms are influencers
and KOLs, which are personalities on these platforms that have amassed huge exposure and popularity. KOL can make great profits from marketing
and online live selling. Our target is to provide a unified entertainment universe for China market, Asia market and all overseas Chinese
around the world.

 Currently, we do not derive
any revenue from our business segments yet.

 Our Strategies

 We are poised to commence
our new initiative: the official introduction of Glamourous Planet to the public. Under the guidance of our management team, comprised
of industry experts, significant enhancements are set to unfold across key components such as Metaverse Development, Game Development,
Commercial Movie Production, KOL Management, and Event Organization. This strategic evolution is designed to bring a heightened level
of professionalism and expertise to a groundbreaking global entertainment metaverse —known as an advanced iteration of Metasense.
Glamourous Planet seamlessly amalgamates movies, games, music, online shows, and KOL interaction, forming the core of the Company's business
plan.

 Adding to the Company's metaverse
prowess, Dr. Kin-fat Chan joined our Metaverse Development Team in December 2023. Dr. Chan, the shareholder of Metaverse Innovation Laboratory
( Project), has successfully developed a metaverse dedicated to Dunhuang Culture.

 Dr. Chan's professional background includes serving
as the assistant to the renowned Hong Kong entrepreneur, Sir Ka-shing Lee. With Dr. Chan's expertise and experience, we are poised to
develop a highly competitive metaverse, establishing itself as a pioneer in the global market. The Company looks forward to achieving
new heights in the realm of entertainment and metaverse innovation.

 INTELLECTUAL PROPERTY AND PATENTS

 We expect to rely on, trade
secrets, copyrights, know-how, trademarks, license agreements and contractual provisions to establish our intellectual property rights
and protect our "Luduson" brand, as well as its related products and services. These legal means, however, afford only limited
protection and may not adequately protect our rights. Litigation may be necessary in the future to enforce our intellectual property rights,
protect our trade secrets or determine the validity and scope of the proprietary rights of others. Litigation could result in substantial
costs and diversion of resources and management attention.

 The laws of Hong Kong, China
and our target countries may not protect our brand and services and intellectual property to the same extent as U.S. laws, if at all.
We may be unable to fully protect our intellectual property rights in these countries. Further, companies in the internet, social media
technology and other industries may own large numbers of patents, copyrights and trademarks and may frequently request license agreements,
threaten litigation or file suit against us based on allegations of infringement or other violations of intellectual property rights.

 We intend to seek the widest
possible protection for significant product and process developments in our major markets through a combination of copyrights, trade secrets,
trademarks, patents, confidentiality provisions and procedures and other contractual provisions, if applicable. We anticipate that the
form of protection will vary depending upon the level of protection afforded by the particular jurisdiction. We expect that our revenue
will be derived principally from our operations in Hong Kong and China where intellectual property protection may be limited and difficult
to enforce. In such instances, we may seek protection of our intellectual property through measures taken to increase the confidentiality
of our findings.

 We intend to register trademarks
as a means of protecting the brand names of our companies and products. We intend protect our trademarks against infringement and also
seek to register design protection where appropriate.

 We rely on trade secrets
and unpatentable know-how that we seek to protect, in part, by confidentiality agreements. We expect that, where applicable, we will require
our employees to execute confidentiality agreements upon the commencement of employment with us. We expect these agreements to provide
that all confidential information developed or made known to the individual during the course of the individual's relationship with us
is to be kept confidential and not disclosed to third parties except in specific limited circumstances. The agreements will also provide
that all inventions conceived by the individual while rendering services to us shall be assigned to us as the exclusive property of our
company. There can be no assurance, however, that all persons who we desire to sign such agreements will sign, or if they do, that these
agreements will not be breached, that we would have adequate remedies for any breach, or that our trade secrets or unpatentable know-how
will not otherwise become known or be independently developed by competitors.

 We also devote financial
and operational resources to implement systems, processes and technologies to guard against cyber events and to help protect our intellectual
property, employee and consumer data and information technology systems against intrusions or other security breaches. In addition, we
engage in activities designed to limit the impact of abuse of our digital products and services, including monitoring our games for evidence
of exploitation and re-balancing our game environments in the event that such abuse is discovered.

 COMPETITION

 The entertainment industry
in China has witnessed a remarkable surge in recent years, driven by the country's booming economy, increasing disposable income, and
the growing demand for digital content consumption. In this thriving market, we emerges, akin to Netflix, but with a specific focus on
catering to the Chinese audience.

 We recognize the unique cultural
nuances and preferences of the Chinese market. We leverage our deep understanding of local tastes, traditions, and storytelling to curate
a diverse library of content that resonates with Chinese viewers. This includes a wide range of TV dramas, movies, variety shows, and
documentaries, both locally produced and licensed from international sources.

 We operate in a highly competitive
landscape, with other major players like iQIYI, Tencent Video, and Youku Tudou dominating the market. To differentiate ourselves, the
Company emphasizes its commitment to high-quality content and premium viewing experiences. We collaborate with renowned Chinese directors,
producers, and actors to create original productions that capture the attention and captivate the hearts of Chinese audiences.

 Technology and innovation
play a crucial role in the success of this entertainment company. We invest heavily in cutting-edge streaming technologies, adaptive video
delivery, and personalized content recommendation systems. By leveraging artificial intelligence and big data analytics, the company tailors
our content offerings to match individual viewer preferences, ensuring a highly personalized and engaging entertainment experience.

 We also recognize the significance
of mobile platforms in the Chinese market. With a majority of Chinese consumers accessing content through smartphones, the company prioritizes
mobile optimization, offering a seamless streaming experience on various devices and developing user-friendly mobile applications.

 In addition to content streaming,
the Company explores other revenue streams to maximize profitability. This may include advertising partnerships, brand collaborations,
e-commerce integration, and content licensing deals with other platforms and broadcasters.

 As the entertainment industry
continues to evolve, we keep a close eye on market trends, consumer behavior, and regulatory changes. We remain agile and adaptable, ready
to seize opportunities and navigate challenges to maintain its position as a prominent player in the Chinese entertainment ecosystem.

 Competition in the entertainment
industry is intense in Hong Kong and China. We compete with other game developers, operators and publishers of interactive games in Hong
Kong and China. We may also face competition from emerging mobile game developers, operators and publishers, as well as some traditional
online PC game companies that are entering the mobile game market. The game industry is fragmented and sensitive to price and service.
We believe the principal competitive factors in our market include the following:

 Although we believe we compete
favorably on the factors described above, many of our current and potential competitors have longer operating histories, significantly
greater financial, technical, marketing and other resources, larger product and services offerings, larger customer base and greater brand
recognition. These factors may allow our competitors to benefit from their existing customer base with lower development costs or to respond
more quickly than we can to new or emerging technologies and changes in customer requirements.

 These competitors may engage
in more extensive research and development efforts, undertake more far-reaching marketing campaigns and adopt more aggressive pricing
policies, which may allow them to build a larger customer base more effectively than us. Our competitors may develop products or services
that are similar to our products and services or that achieve greater market acceptance than our products and services. In addition, although
we do not believe that customer payment terms are a principal competitive factor in our market, they may become such a factor, and we
may be unable to compete on such terms.

 EMPLOYEES

 As of February 20, 2024,
we do not have any full time employees:

 We work with our consultants
in their specific area of expertise on a contractual basis as they are not employees of the Company.

 GOVERNMENT AND INDUSTRY REGULATIONS

 Our business is located
in Hong Kong and is subject to the laws and regulations of Hong Kong governing businesses concerning, in particular labor, occupational
safety and health, contracts, tort and intellectual property. Furthermore, we need to comply with the rules and regulations of Hong Kong
governing the data usage and regular terms of service applicable to our potential customers or clients. As the information of our potential
customers or clients is preserved in Hong Kong, we need to comply with the Hong Kong Personal Data (Privacy) Ordinance.

 If PRC authorities reinterpret
PRC laws to apply to Hong Kong companies, we may become subject to the laws and regulations of China governing businesses in general,
including labor, occupational safety and health, contracts, tort and intellectual property. We may also become subject to foreign exchange
regulations might limit our ability to convert foreign currency into Renminbi or Hong Kong Dollars, acquire any other PRC companies, establish
VIEs in the PRC, or make dividend payments from any future WFOEs to us.

 Hong Kong

 The Employment Ordinance
is the main piece of legislation governing conditions of employment in Hong Kong since 1968. It covers a comprehensive range of employment
protection and benefits for employees, including Wage Protection, Rest Days, Holidays with Pay, Paid Annual Leave, Sickness Allowance,
Maternity Protection, Statutory Paternity Leave, Severance Payment, Long Service Payment, Employment Protection, Termination of Employment
Contract, Protection Against Anti-Union Discrimination. In addition, every employer must take out employees' compensation insurance
to protect the claims made by employees in respect of accidents occurred during the course of their employment.

 An employer must also comply
with all legal obligations under the Mandatory Provident Fund Schemes Ordinance, (CAP485). These include enrolling all qualifying employees
in MPF schemes and making MPF contributions for them. Except for exempt persons, employer should enroll both full-time and part-time employees
who are at least 18 but under 65 years of age in an MPF scheme within the first 60 days of employment. The 60-day employment rule does
not apply to casual employees in the construction and catering industries. Pursuant to the said Ordinance, we are required to make MPF
contributions for our Hong Kong employees once every contribution period (generally the wage period within 1 month). Employers and employees
are each required to make regular mandatory contributions of 5% of the employee's relevant income to an MPF scheme, subject to the
minimum and maximum relevant income levels. For a monthly-paid employee, the minimum and maximum relevant income levels are $7,100 and
$30,000, respectively.

 China

 Depending upon the political
climate, we may also become subject to the laws and regulations of China governing businesses in general, including labor, occupational
safety and health, contracts, tort and intellectual property. We may also become subject to foreign exchange regulations might limit our
ability to convert foreign currency into Renminbi, acquire PRC companies, or make dividend payments to ENMI.

 Regulations on Tax

 PRC Corporate Income Tax

 The PRC corporate income
tax, or CIT, is calculated based on the taxable income determined under the applicable CIT Law and its implementation rules, which became
effective on January 1, 2008 and amended on February 24, 2017 and December 29, 2018 respectively. The CIT Law imposes a uniform corporate
income tax rate of 25% on all resident enterprises in China, including foreign-invested enterprises.

 Uncertainties exist with
respect to how the CIT Law applies to the tax residence status of the Company and our offshore subsidiaries. Under the CIT Law, an enterprise
established outside of China with a "de facto management body" within China is considered a "resident enterprise,"
which means that it is treated in a manner similar to a Chinese enterprise for corporate income tax purposes. Although the implementation
rules of the CIT Law define "de facto management body" as a managing body that exercises substantive and overall management
and control over the production and business, personnel, accounting books and assets of an enterprise, the only official guidance for
this definition currently available is set forth in Circular 82 issued by the State Administration of Taxation, which provides guidance
on the determination of the tax residence status of a Chinese-controlled offshore incorporated enterprise, defined as an enterprise that
is incorporated under the laws of a foreign country or territory and that has a PRC enterprise or enterprise group as its primary controlling
shareholder. Although the Company does not have a PRC enterprise or enterprise group as our primary controlling shareholder and is therefore
not a Chinese-controlled offshore incorporated enterprise within the meaning of Circular 82, in the absence of guidance specifically applicable
to us, we have made reference to the guidance set forth in Circular 82 to evaluate the tax residence status of the Company and our subsidiaries
organized outside the PRC.

 According to Circular 82,
a Chinese-controlled offshore incorporated enterprise will be regarded as a PRC tax resident by virtue of having a "de facto management
body" in China and will be subject to PRC corporate income tax on its worldwide income only if all of the following criteria are
met:

 the primary location of the day-to-day operational management is in the PRC;

 decisions relating to the enterprise's financial and human resource matters are made or are subject to approval by organizations or personnel in the PRC;

 the enterprise's primary assets, accounting books and records, company seals, and board and shareholders meeting minutes are located or maintained in the PRC; and

 50% or more of voting board members or senior executives habitually reside in the PRC.

 Currently, our Hong Kong
entities are not considered entities inside China and therefore not deemed to be a PRC resident enterprise for PRC tax purposes as defined
above. However, the tax resident status of an enterprise is subject to determination by the PRC tax authorities and uncertainties remain
with respect to the interpretation of the term "de facto management body." As all of our management members are based in Hong
Kong, it remains unclear how the tax residency rule will apply to our case. If the PRC tax authorities determine that we or any of our
subsidiaries outside of China is a PRC resident enterprise for PRC enterprise income tax purposes, then we or such subsidiary could be
subject to PRC tax at a rate of 25% on its world-wide income, as our entity enterprise in China is an state high-tech enterprise, it is
possible to be impose 15% enterprise income tax on state high-tech enterprises in accordance with provisions of the Chinese tax law, thus
materially reducing our net income. In addition, we will also be subject to PRC enterprise income tax reporting obligations. Furthermore,
if the PRC tax authorities determine that we are a PRC resident enterprise for enterprise income tax purposes, gains realized on the sale
or other disposition of our ordinary shares may be subject to PRC tax, at a rate of 10% in the case of non-PRC enterprises or 20% in the
case of non-PRC individuals (in each case, subject to the provisions of any applicable tax treaty), if such gains are deemed to be from
PRC sources. It is unclear whether non-PRC shareholders of our company would be able to claim the benefits of any tax treaties between
their country of tax residence and the PRC in the event that we are treated as a PRC resident enterprise. Any such tax may reduce the
returns on your investment in our common stock.

 Value-Added Tax and
Business Tax

 The Provisional Regulations
of the PRC on Value-added Tax ("VAT") were promulgated by the State Council on December 13, 1993 and came into effect on January
1, 1994 which were subsequently amended on November 10, 2008, February 6, 2016 and November 19, 2017. The Detailed Rules for the Implementation
of the Provisional Regulations of the PRC on Value-added Tax (Revised in 2011) were promulgated by the Ministry of Finance and the State
Administration of Taxation ("SAT") on 28 October 2011 and came into effect on November 1, 2011 (collectively, the "VAT
Law"). According to the VAT Law, all enterprises and individuals engaged in the sale of goods, the provision of processing, repair
and replacement services, and the importation of goods within the territory of the PRC must pay value-added tax. For general VAT taxpayers
selling or importing goods other than those specifically listed in the VAT Law, the VAT rate is 17%. Starting from April 1, 2019, the
VAT rate for revenue generated from providing products was changed from 16% into 13%. VAT is reported as a deduction of revenue when incurred.
Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities.
Net VAT balance between input VAT and output VAT is recorded in taxes payable.

 On March 23, 2016, the Ministry
of Finance and the SAT jointly issued the Circular on Full Implementation of Business Tax to Value-added Tax Reform which has been partially
repealed on July 1, 2017 and January 1, 2018, confirms that business tax would be completely replaced by VAT from May 1, 2016.

 Regulations Relating
to Foreign Exchange and Dividend Distribution

 Foreign Exchange Regulations

 The principal regulations
governing foreign currency exchange in China are the Foreign Exchange Administration Regulations. Under the PRC foreign exchange regulations,
payments of current account items, such as profit distributions and trade and service-related foreign exchange transactions, may be made
in foreign currencies without prior approval from the State Administration of Foreign Exchange ("SAFE") by complying with
certain procedural requirements. By contrast, approval from or registration with appropriate government authorities is required where
RMB is to be converted into foreign currency and remitted out of China to pay capital expenses such as the repayment of foreign currency-denominated
loans or foreign currency is to be remitted into China under the capital account, such as a capital increase or foreign currency loans
to PRC subsidiaries. Our operating currency is the Hong Kong Dollar. If PRC authorities reinterpret foreign exchange regulations to include
the Hong Kong Dollar, then we may become subject to the regulations affecting foreign exchange and dividend distributions as set forth
herein.

 In November 2012, SAFE promulgated
the Circular of Further Improving and Adjusting Foreign Exchange Administration Policies on Foreign Direct Investment. Pursuant to this
circular, the opening of various special purpose foreign exchange accounts, such as pre-establishment expense accounts, foreign exchange
capital accounts and guarantee accounts, the reinvestment of RMB proceeds by foreign investors in the PRC, and remittance of foreign exchange
profits and dividends by a foreign-invested enterprise to its foreign shareholders no longer require the approval or verification of SAFE,
and multiple capital accounts for the same entity may be opened in different provinces, which was not possible previously. In addition,
SAFE promulgated the Circular on Printing and Distributing the Provisions on Foreign Exchange Administration over Domestic Direct Investment
by Foreign Investors and the Supporting Documents in May 2013, which specifies that the administration by SAFE or its local branches over
direct investment by foreign investors in the PRC shall be conducted by way of registration and banks shall process foreign exchange business
relating to the direct investment in the PRC based on the registration information provided by SAFE and its branches.

 Additionally, pursuant to
the Notice of the State Administration of Foreign Exchange on Further Simplifying and Improving the Direct Investment related Foreign
Exchange Administration Policies ("SAFE Notice No. 13"), which was promulgated on February 13, 2015 and became effective on
June 1, 2015, the foreign exchange registration in relation to foreign direct investment shall be directly reviewed and handled by qualified
banks in accordance with SAFE Notice No. 13, and SAFE and its branches shall perform indirect regulation over the foreign exchange registration
via qualified banks.

 We typically do not need
to use our offshore foreign currency to fund our Hong Kong operations. In the event we need to do so, we may be required to apply to obtain
the relevant approvals of, registration or filing with SAFE and other PRC government authorities as necessary.

 On August 29, 2008, SAFE
issued the Circular on the Relevant Operating Issues Concerning the Improvement of the Administration of the Payment and Settlement of
Foreign Currency Capital of Foreign-Invested Enterprises, or SAFE Circular 142. Pursuant to SAFE Circular 142, RMB resulting from the
settlement of foreign currency capital of a foreign-invested enterprise must be used within the business scope as approved by the applicable
government authority and cannot be used for domestic equity investment, unless it is otherwise approved. Documents certifying the purposes
of the settlement of foreign currency capital into RMB, including a business contract, must also be submitted for the settlement of the
foreign currency. In addition, SAFE strengthened its oversight of the flow and use of RMB capital converted from foreign currency registered
capital of a foreign-invested company. The use of such RMB capital may not be altered without SAFE's approval, and such RMB capital
may not be used to repay RMB loans if such loans have not been used. Violations of SAFE Circular 142 could result in severe monetary fines
or penalties. We expect that our use of RMB funds have been, and will be, within the approved business scope of our PRC subsidiary. We
believe that our PRC subsidiary is permitted to conduct its castor seeds distribution operations and provide consulting services to castor
farmers. However, we may not be able to use such RMB funds to make equity investments in the PRC through our PRC subsidiaries. There are
no costs associated with applying for registration or approval of loans or capital contributions with or from relevant PRC governmental
authorities, other than nominal processing charges. Under PRC laws and regulations, the PRC governmental authorities are required to process
such approvals or registrations or deny our application within a prescribed time period, which is usually less than 90 days. The actual
time taken, however, may be longer due to administrative delays. If we are required to obtain these registrations or approvals, we cannot
assure you that we will be able to obtain these government registrations or approvals on a timely basis, if at all, with respect to our
operations in Hong Kong. If we fail to receive such registrations or approvals, our ability to use the proceeds from our funds to capitalize
our Hong Kong operations may be negatively affected, which could materially and adversely affect our liquidity and ability to fund and
expand our business.

 SAFE Circular 37

 SAFE promulgated the Circular
on Relevant Issues Concerning Foreign Exchange Control on Domestic Residents' Offshore Investment and Financing and Roundtrip Investment
through Special Purpose Vehicles, or SAFE Circular 37, on July 4, 2014, which replaced the former circular commonly known as "SAFE
Circular 75" promulgated by SAFE on October 21, 2005. SAFE Circular 37 requires PRC residents to register with local branches of
SAFE in connection with their direct establishment or indirect control of an offshore entity, for the purpose of overseas investment and
financing, with such PRC residents' legally owned assets or equity interests in domestic enterprises or offshore assets or interests,
referred to in SAFE Circular 37 as a "special purpose vehicle." SAFE Circular 37 further requires amendment to the registration
in the event of any significant changes with respect to the special purpose vehicle, such as increase or decrease of capital contributed
by PRC individuals, share transfer or exchange, merger, division or other material event. In the event that a PRC shareholder holding
interests in a special purpose vehicle fails to fulfill the required SAFE registration, the PRC subsidiaries of that special purpose vehicle
may be prohibited from making profit distributions to the offshore parent and from carrying out subsequent cross-border foreign exchange
activities, and the special purpose vehicle may be restricted in its ability to contribute additional capital into its PRC subsidiary.
Furthermore, failure to comply with the various SAFE registration requirements described above could result in liability under PRC law
for evasion of foreign exchange controls. On February 13, 2015, SAFE Notice No. 13 was promulgated, pursuant to which the aforementioned
registration shall be conducted with and handled by qualified banks.

 We have notified substantial
beneficial owners of our ordinary shares who we know are PRC residents of their filing obligation, and to the best of our knowledge, those
shareholders whom we know are PRC residents have completed the registration or will carry out the registration as required under SAFE
Circular 37. However, we may not be aware of the identities of all our beneficial owners who are PRC residents. In addition, we do not
have control over our beneficial owners and cannot assure you that all of our PRC resident beneficial owners will comply with SAFE Circular
37. The failure of our beneficial owners who are PRC residents to register or amend their SAFE registrations in a timely manner pursuant
to SAFE Circular 37 or the failure of future beneficial owners of our company who are PRC residents to comply with the registration procedures
set forth in SAFE Circular 37 may subject such beneficial owners or our PRC subsidiaries to fines and legal sanctions. Failure to register
or amend the registration may also limit our ability to contribute additional capital to our PRC subsidiaries or receive dividends or
other distributions from our PRC subsidiaries or other proceeds from disposal of our PRC subsidiaries, or we may be penalized by SAFE.

 Share Option Rules

 Under the Administration
Measures on Individual Foreign Exchange Control issued by the PBOC on December 25, 2006, all foreign exchange matters involved in employee
share ownership plans and share option plans in which PRC citizens participate require approval from SAFE or its authorized branch. Pursuant
to SAFE Circular 37, PRC residents who participate in share incentive plans in overseas non-publicly-listed companies may submit applications
to SAFE or its local branches for the foreign exchange registration with respect to offshore special purpose companies. In addition, under
the Notices on Issues concerning the Foreign Exchange Administration for Domestic Individuals Participating in Share Incentive Plans of
Overseas Publicly-Listed Companies, or the Share Option Rules, issued by SAFE on February 15, 2012, PRC residents who are granted shares
or share options by companies listed on overseas stock exchanges under share incentive plans are required to (i) register with SAFE or
its local branches, (ii) retain a qualified PRC agent, which may be a PRC subsidiary of the overseas listed company or another qualified
institution selected by the PRC subsidiary, to conduct the SAFE registration and other procedures with respect to the share incentive
plans on behalf of the participants, and (iii) retain an overseas institution to handle matters in connection with their exercise of share
options, purchase and sale of shares or interests and funds transfers.

 Regulation of Dividend
Distributions

 The principal laws, rules
and regulations governing dividend distributions by foreign-invested enterprises in the PRC are the Company Law of the PRC, as amended,
the Wholly Foreign-owned Enterprise Law and its implementation regulations, the Chinese-foreign Cooperative Joint Venture Law and its
implementation regulations, and the Chinese-foreign Equity Joint Venture Law and its implementation regulations. Under these laws, rules
and regulations, foreign-invested enterprises may pay dividends only out of their accumulated profit, if any, as determined in accordance
with PRC accounting standards and regulations. Both PRC domestic companies and wholly-foreign owned PRC enterprises are required to set
aside a general reserve of at least 10% of their after-tax profit, until the cumulative amount of such reserve reaches 50% of their registered
capital. A PRC company is not permitted to distribute any profits until any losses from prior fiscal years have been offset. Profits retained
from prior fiscal years may be distributed together with distributable profits from the current fiscal year.

 SEASONALITY.

 Our business is highly dependent
upon various festivals in Hong Kong and China. In Hong Kong and China, we experience peak demand for our services during Chinese New Year,
Easter holiday, summer holiday and Christmas in December.

 INSURANCE.

 Our business is located in
Hong Kong are subject to the laws and regulations of Hong Kong governing businesses concerning, in particular labor, occupational safety
and health, contracts, tort and intellectual property. Furthermore, we need to comply with the rules and regulations of Hong Kong governing
the data usage and regular terms of service applicable to our potential customers or clients. As the information of our potential customers
or clients is preserved in Hong Kong, we need to comply with the Hong Kong Personal Data (Privacy) Ordinance.

 CORPORATE INFORMATION

 Our principal executive and
registered offices are located at 35/F, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong, telephone number +852-2824 8560.

 NEAR-TERM REQUIREMENTS FOR ADDITIONAL CAPITAL

 We believe that we will require
approximately $1,000,000 over the next 18-24 months to implement our business plan of expanding throughout Hong Kong. For the immediate
future, we intend to finance our business expansion efforts through loans from existing shareholders or financial institutions.

 AVAILABLE INFORMATION

 Access to all of our Securities
and Exchange Commission ("SEC") filings, including our Annual Report on Form 10-K, quarterly reports on Form 10-Q, current
reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange
Act of 1934, as amended (the "Exchange Act"), is provided, free of charge, on our website (www.luduson.com) as soon as reasonably
practicable after such reports are electronically filed with, or furnished to, the SEC. The reports will be provided at no cost to the
requester. Each request for these reports should be made to Luduson G Inc., Attention: Secretary, 35/F, Central Plaza, 18 Harbour Road,
Wanchai, Hong Kong.

 Globex Transfer, LLC located
at 780 Deltona Boulevard, Suite 202, Deltona, Florida 32725, telephone number (813) 344-4490, facsimile (386) 267-3124, serves as our
stock transfer agent.

 ITEM 1A. RISK FACTORS.

 An investment in our common
stock involves a number of very significant risks. You should carefully consider the following known material risks and uncertainties
in addition to other information in this document in evaluating our company and its business before purchasing shares of our company's
common stock. You could lose all or part of your investment due to any of these risks.

 Risks Relating to the Company

 COVID-19 has had an
adverse effect that is material on our business and may continue to do so for the next twelve months.

 During March 2020, the World
Health Organization declared the rapidly growing coronavirus outbreak to be a global pandemic. The COVID-19 pandemic has significantly
impacted health and economic conditions throughout Hong Kong and China. National, regional and local governments took a variety of actions
to contain the spread of COVID-19, including office and store closures or capacity limitations. These developments have caused a material
adverse impact on the Company's results of operations, financial condition and cash flows.

 We cannot predict how soon
we will be able to resume normal operations as our ability to resume will depend in part on the actions of a number of governmental bodies
over which we have no control. Moreover, once restrictions are lifted, it is unclear how quickly customers will commence operations and
resume consuming our products and service, which may be a function of continued concerns over safety and/or depressed consumer sentiment
due to adverse economic conditions, including job losses. Considering the significant uncertainty as to when we can resume operations
and the uncertain customer demand environment, in addition to the actions described above, we expect to engage in conversations with potential
investors to secure additional sources of financing.

 The outbreak of COVID-19
has caused significant disruptions to the Company's ability to generate revenues and cash flows, and uncertainty regarding the length
of the disruption may adversely impact our financial condition and ability to raise additional capital. As part of our business continuity
efforts, we reduced expenses broadly, including cutting back capital spending. The ultimate impact of the COVID-19 pandemic on our business,
results of operations, financial condition and cash flows will depend on our ability to have sufficient liquidity until such time as we
again generate revenue and profits capable of supporting our ongoing operations, all of which remain highly uncertain at this time.

 We may be materially
and adversely affected by the complexity, uncertainties and changes in PRC regulation of the companies and businesses in the digital space.

 In recent activity, the PRC
government has issued extensive regulations affecting the digital industry such as online gaming, online tutoring, e-commerce and other
online and technology companies, including foreign ownership of, and the licensing and permit requirements pertaining to, companies in
the digital space. These laws and regulations are relatively new and evolving, and their interpretation and enforcement involve significant
uncertainty. As a result, in certain circumstances it may be difficult to determine what actions or omissions may be deemed to be in violations
of applicable laws and regulations. There is also uncertainty regarding such laws may be expanded to increase its effect on our business
and operations. Issues, risks and uncertainties relating to PRC regulations of digital businesses include, but are not limited to, the
following:

 There are uncertainties relating to the regulation of the online gaming and Internet business in China, including evolving licensing practices and the requirement for real-name registrations and the applicability of PRC regulations to Hong Kong companies. Permits, licenses or operations of our Hong Kong subsidiaries may be subject to challenge, we may not be able to timely obtain or maintain all the required licenses or approvals, permits, or to complete filing, registration or other formalities necessary for our present or future operations, and we may not be able to renew certain permits or licenses or renew certain filing or registration or other formalities.

 The evolving PRC regulatory system in the digital space may lead to the establishment of new regulatory agencies. For example, in May 2011, the State Council announced the establishment of a new department, the State Internet Information Office. The primary role of this new agency is to facilitate the policy-making and legislative development in this field to direct and coordinate with the relevant departments in connection with online content administration and to deal with cross-ministry regulatory matters in relation to the Internet industry. We are unable to determine what policies this new agency or any new agencies to be established in the future may have or how they may interpret existing laws, regulations and policies and how they may affect us. Further, new laws, regulations or policies may be promulgated or announced that will regulate Internet activities, including online video and online advertising businesses. In August 2021, the National Press and Publication Administration issued new limits restricting online gaming for minors which may adversely impact our gaming business in Hong Kong. If these new laws, regulations or policies are promulgated, additional licenses may be required for our operations. If our operations do not comply with these new regulations after they become effective, or if we fail to obtain any licenses required under these new laws and regulations, we could be subject to penalties, and our business could be disrupted.

 The interpretation and application
of existing PRC laws, regulations and policies and possible new laws, regulations or policies relating to the digital industry have created
substantial uncertainties regarding the legality of existing and future foreign investments in, and the businesses and activities of,
Internet businesses in China and Hong Kong including our business. There are also risks that we may be found to violate the existing or
future laws and regulations given the uncertainty and complexity of China's regulation of the digital industry.

 Our business generates
and processes personal data, and we are required to comply with PRC laws and regulations relating to cyber security. These laws and regulations
could create unexpected costs, subject us to enforcement actions for compliance failures, or restrict portions of our business or cause
us to change our data practices or business model.

 Our business generates and
processes personal data and face risks inherent in handling and protecting personal data. In particular, we face a number of challenges
relating to data we collect through our game distribution platform, including:

 protecting the data in and hosted on our system, including against attacks on our system by outside parties or fraudulent behavior or improper use by our employees;

 addressing concerns related to privacy and sharing, safety, security and other factors; and

 complying with applicable laws, rules and regulations relating to the collection, use, storage, transfer, disclosure and security of personal information, including any requests from regulatory and government authorities relating to this data.

 Governments around the world,
including the PRC government, have enacted or are considering legislation related to online businesses. There may be an increase in legislation
and regulation related to the collection and use of anonymous internet user data and unique device identifiers, such as IP address or
mobile unique device identifiers, and other data protection and privacy regulation. The PRC regulatory and enforcement regime with regard
to data security and data protection is evolving. We may be required by Chinese governmental authorities to share personal information
and data that we collect to comply with PRC laws relating to cybersecurity. All these laws and regulations may result in additional expenses
to us and any non-compliance may subject us to negative publicity which could harm its reputation and negatively affect the trading price
of our securities. There are also uncertainties with respect to how these laws will be implemented in practice. PRC regulators have been
increasingly focused on regulation in the areas of data security and data protection. We expect that these areas will receive greater
attention and focus from regulators, as well as attract continued or greater public scrutiny and attention going forward, which could
increase our compliance costs and subject it to heightened risks and challenges associated with data security and protection. If we are
unable to manage these risks, we could become subject to penalties, fines, suspension of business and revocation of required licenses,
and our reputation and results of operations could be materially and adversely affected. In addition, regulatory authorities around the
world have recently adopted or are considering a number of legislative and regulatory proposals concerning data protection. These legislative
and regulatory proposals, if adopted, and the uncertain interpretations and application thereof could, in addition to the possibility
of fines, result in an order requiring that we change our data practices, which could have an adverse effect on our business and results
of operations.

 We may become subject to a variety of laws
and regulations in the PRC regarding privacy, data security, cybersecurity, and data protection. We may be liable for improper use or
appropriation of personal information provided by our customers.

 We may become subject to
a variety of laws and regulations in the PRC and Hong Kong regarding privacy, data security, cybersecurity, and data protection. These
laws and regulations are continuously evolving and developing. The scope and interpretation of the laws that are or may be applicable
to us are often uncertain and may be conflicting, particularly with respect to foreign laws. In particular, there are numerous laws and
regulations regarding privacy and the collection, sharing, use, processing, disclosure, and protection of personal information and other
user data. Such laws and regulations often vary in scope, may be subject to differing interpretations, and may be inconsistent among different
jurisdictions.

 We expect to obtain information
about various aspects of our operations as well as regarding our employees and third parties. We also maintain information about various
aspects of our operations as well as regarding our employees. The integrity and protection of our customer, employee and company data
is critical to our business. Our customers, end users and employees expect that we will adequately protect their personal information.

 We are required by applicable
laws to keep strictly confidential the personal information that we collect, and to take adequate security measures to safeguard such
information.

 The PRC Criminal Law, as
amended by its Amendment 7 (effective on February 28, 2009) and Amendment 9 (effective on November 1, 2015), prohibits institutions, companies
and their employees from selling or otherwise illegally disclosing a citizen's personal information obtained during the course of
performing duties or providing services or obtaining such information through theft or other illegal ways. On November 7, 2016, the Standing
Committee of the PRC National People's Congress issued the Cyber Security Law of the PRC, or Cyber Security Law, which became effective
on June 1, 2017.

 Pursuant to the Cyber Security
Law, network operators must not, without users' consent, collect their personal information, and may only collect users' personal
information necessary to provide their services. Providers are also obliged to provide security maintenance for their products and services
and shall comply with provisions regarding the protection of personal information as stipulated under the relevant laws and regulations.

 The Civil Code of the PRC
(issued by the PRC National People's Congress on May 28, 2020 and effective from January 1, 2021) provides main legal basis for
privacy and personal information infringement claims under the Chinese civil laws. PRC regulators, including the Cyberspace Administration
of China, MIIT, and the Ministry of Public Security have been increasingly focused on regulation in the areas of data security and data
protection.

 The PRC regulatory requirements
regarding cybersecurity are constantly evolving. For instance, various regulatory bodies in China, including the Cyberspace Administration
of China, the Ministry of Public Security and the SAMR, have enforced data privacy and protection laws and regulations with varying and
evolving standards and interpretations. In April 2020, the Chinese government promulgated Cybersecurity Review Measures, which came into
effect on June 1, 2020. According to the Cybersecurity Review Measures, operators of critical information infrastructure must pass a cybersecurity
review when purchasing network products and services which do or may affect national security.

 In November 2016, the Standing
Committee of China's National People's Congress passed China's first Cybersecurity Law ("CSL"), which became
effective in June 2017. The CSL is the first PRC law that systematically lays out the regulatory requirements on cybersecurity and data
protection, subjecting many previously under-regulated or unregulated activities in cyberspace to government scrutiny. The legal consequences
of violation of the CSL include penalties of warning, confiscation of illegal income, suspension of related business, winding up for rectification,
shutting down the websites, and revocation of business license or relevant permits. In April 2020, the Cyberspace Administration of China
and certain other PRC regulatory authorities promulgated the Cybersecurity Review Measures, which became effective in June 2020. Pursuant
to the Cybersecurity Review Measures, operators of critical information infrastructure must pass a cybersecurity review when purchasing
network products and services which do or may affect national security. On July 10, 2021, the Cyberspace Administration of China issued
a revised draft of the Measures for Cybersecurity Review for public comments ("2021 Measures"), which required that, in addition
to "operator of critical information infrastructure," any "data processor" carrying out data processing activities
that affect or may affect national security should also be subject to cybersecurity review, and further elaborated the factors to be considered
when assessing the national security risks of the relevant activities, including, among others, (i) the risk of core data, important data
or a large amount of personal information being stolen, leaked, destroyed, and illegally used or exited the country; and (ii) the risk
of critical information infrastructure, core data, important data or a large amount of personal information being affected, controlled,
or maliciously used by foreign governments after listing abroad. The 2021 Measures became effective on February 15, 2022. The Cyberspace
Administration of China has said that under the 2021 Measures companies holding data on more than 1,000,000 users must now apply for cybersecurity
approval when seeking listings in other nations because of the risk that such data and personal information could be "affected,
controlled, and maliciously exploited by foreign governments." The cybersecurity review will also investigate the potential national
security risks from overseas IPOs. Article 7 of the 2021 Measures states that "Where any network platform operator who possesses
the personal information of more than one million users seeks foreign listings (" "), it shall
file an application with the Office of Cybersecurity Review for cybersecurity review." The cybersecurity review will also investigate
the potential national security risks from overseas IPOs.

 We do not know what regulations
will be adopted or how such regulations will affect us. In the event that the Cyberspace Administration of China determines that we are
subject to these regulations, our securities may no longer be traded on the OTC QB and we may be subject to fines and penalties.

 We believe that we will not
be subject to the cybersecurity review by the CAC for this offering, given that: (i) our products and services are offered not directly
to individual users but through our business customers; (ii) we do not possess a large amount of personal information in our business
operations; and (iii) data processed in our business does not have a bearing on national security and thus may not be classified as core
or important data by the authorities. However, there remains uncertainty as to how the 2021 Measures will be interpreted or implemented
and whether the PRC regulatory agencies, including the CAC, may adopt new laws, regulations, rules, or detailed implementation and interpretation
related to the 2021 Measures. If any such new laws, regulations, rules, or implementation and interpretation comes into effect, we will
take all reasonable measures and actions to comply and to minimize the adverse effect of such laws on us.

 On June 10, 2021, the Standing
Committee of the NPC promulgated the PRC Data Security Law, which took effect on September 1, 2021. The Data Security Law also sets forth
the data security protection obligations for entities and individuals handling personal data, including that no entity or individual may
acquire such data by stealing or other illegal means, and the collection and use of such data should not exceed the necessary limits.
The costs of compliance with, and other burdens imposed by, CSL and any other cybersecurity and related laws may limit the use and adoption
of our products and services and could have an adverse impact on our business.

 On August 20, 2021, the Standing
Committee of the NPC approved the Personal Information Protection Law ("PIPL"), which will become effective on November 1,
2021. The PIPL regulates collection of personal identifiable information and seeks to address the issue of algorithmic discrimination.
Companies in violation of the PIPL may be subject to warnings and admonishments, forced corrections, confiscation of corresponding income,
suspension of related services, and fines. We offer our products and services mainly to corporate clients and have limited interactions
with individual end-users, which means our potential access or exposure to end-users' personal identifiable information is limited.
However, in the event we inadvertently accesses or becomes exposed to end-users' personal identifiable information, through its
corporate clients' end-user-facing applications which access or store end users' personal identifiable information, then we
may face heightened exposure to the PIPL. We cannot assure you that PRC regulatory agencies, including the CAC, would take the same view
as we do, and there is no assurance that we can fully or timely comply with such laws. In the event that we are subject to any mandatory
cybersecurity review and other specific actions required by the CAC, we face uncertainty as to whether any clearance or other required
actions can be timely completed, or at all. Given such uncertainty, we may be further required to suspend relevant business, shut down
our website, or face other penalties, which could materially and adversely affect our business, financial condition, and results.

 If we fail to retain
existing or attract new advertising customers to advertise within their customized gaming content, maintain and increase our wallet share
of advertising budget, or if we are unable to collect accounts receivable in a timely manner, our business, financial condition may be
adversely affected.

 We generate a substantial
part of our revenues from advertising or marketing customers who engage us to develop their customized gaming content to launch in their
digital interactive marketing campaigns. However, because our advertising customers are not under long term contracts, we may not be able
to retain our advertising customers in the future, attract new advertising customers continuously or be able to retain our advertising
customers at all. If our advertising customers find that they can generate better returns elsewhere, or if our competitors provide better
online advertising services to suit the advertising customers' goals, we may lose some or all of our advertising customers. Since
most of our advertising customers are not bound by long-term contracts, they may easily reduce or discontinue advertising arrangements
without incurring material liabilities. Failure to retain existing advertising customers or attract new advertising customers to advertise
within the video content produced by us or on our e-commerce platform may materially and adversely affect our business, financial conditions
and results of operations.

 The financial soundness of
our marketing customers and agencies may affect our collection of accounts receivable. We make a credit assessment of our marketing customers
and agencies to evaluate the collectability of the digital marketing service fees before entering into a contract. However, we may not
be able to accurately assess the creditworthiness of each customer or agency, and any inability of customers or agencies to pay us for
our services in a timely manner would negatively our liquidity and cash flows and may materially and adversely affect our business, financial
condition and results of operations.

 We may need to raise
additional financing to support our operations and future acquisitions, but we cannot be sure that we will be able to obtain additional
financing on terms favorable to us when needed. If we are unable to obtain additional financing to meet our needs, our operations may
be adversely affected or terminated.

 Our ability to generate future
operating revenues depends in part on whether we can obtain the financing necessary to implement our business plan. We will likely require
additional financing through the issuance of debt and/or equity in order to establish profitable operations, and such financing may not
be forthcoming. There can be no assurance that we will be able to obtain financing to fund our operations in light of factors beyond our
control such as the market demand for our securities, the state of financial markets, generally, and other relevant factors. Even if additional
financing is available, it may not be available on terms favorable to us. At this time, we have not identified or secured sources of additional
financing. Any sale of our Common Stock in the future may result in dilution to existing stockholders. Furthermore, there is no assurance
that we will not incur debt in the future, that we will have sufficient funds to repay any future indebtedness or that we will not default
on our future debts, which would thereby jeopardize our business viability. We may not be able to borrow or raise additional capital in
the future to meet our needs, which might result in the loss of some or all of your investment in our Common Stock. Even if we do raise
sufficient capital and generate revenues to support our operating expenses, there can be no assurance that the revenue will be sufficient
to enable us to develop our business to a level where it will generate profits and cash flows from operations or provide a return on investment.
In addition, if we raise additional funds through the issuance of equity or convertible debt securities, the percentage ownership of our
stockholders could be significantly diluted, the newly-issued securities may have rights, preferences or privileges senior to those of
existing stockholders and the trading price of our Common Stock could be adversely affected. Further, if we obtain additional debt financing,
a substantial portion of our operating cash flow may be dedicated to the payment of principal and interest on such indebtedness, and the
terms of the debt securities issued could impose significant restrictions on our operations. If we are unable to continue as a going concern,
you may lose your entire investment.

 Our future
performance depends to a significant degree upon the continued service of key members of management as well as marketing, sales and product
development personnel.

 We are dependent upon the
continued service of Mr. Man Fai CHENG, our Chief Executive Officer and Director, and Eng Wah KUNG, our Chief Financial Officer, Secretary
and Director. The loss of Messrs. CHENG or KUNG or one or more of our other key personnel would have a material adverse effect on
our business, operating results and financial condition. We believe our future success will also depend in large part upon our ability
to attract, retain and further motivate highly skilled management, marketing, sales and product development personnel. We expect
to establish an incentive compensation plan for our key personnel to retain their services. We have experienced intense competition
for personnel, and we cannot assure you that we will be able to retain our key employees or that we will be successful in attracting,
assimilating and retaining personnel in the future.

 Ho Chi WAN, our director
and Non-Executive Chairman, beneficially owns approximately or has the right to vote 57.60% of our outstanding common stock. As a result,
Ms WAN has a substantial voting power in all matters submitted to our stockholders for approval including:

 Election of our board of directors;

 Removal of any of our directors or officers;

 Amendment of our Amended Certificate of Incorporation or Bylaws;

 Adoption of measures that could delay or prevent a change in control or impede a merger, takeover or other business combination involving us.

 As a result of his ownership and position, Ms
WAN is able to substantially influence all matters requiring stockholder approval, including the election of directors and approval of
significant corporate transactions. In addition, the future prospect of sales of significant amounts of shares held by him could affect
the market price of our common stock if the marketplace does not orderly adjust to the increase in shares in the market and the value
of your investment in our company may decrease. Ms WAN's stock ownership may discourage a potential acquirer from making a tender
offer or otherwise attempting to obtain control of us, which in turn could reduce our stock price or prevent our stockholders from realizing
a premium over our stock price.

 Our procurement of
new games and amusement offerings is contingent upon availability, and in some instances, our ability to obtain licensing rights.

 Our ability to continue to
procure new games, amusement offerings, and other entertainment-related equipment is important to our business strategy. The number of
suppliers from which we can purchase games, amusement offerings and other entertainment-related equipment is limited. To the extent that
the number of suppliers declines, we could be subject to the risk of distribution delays, pricing pressure, lack of innovation and other
associated risks. We may not be able to anticipate or react to changing amusement offerings cost by adjusting purchasing practices or
game prices, and a failure to do so could have a material adverse effect on our operating results. In addition, any decrease in availability
of new amusement offerings that appeal to customers could lead to decreases in revenues as customers negatively react to lack of new game
options.

 We have successfully developed
several proprietary amusement offerings that are not available to operations outside the Company. Our ability to develop future offerings
is dependent on, among other things, obtaining rights to compelling game content and developing new amusement offerings that are accepted
by our customers. There is no guarantee that additional licensing rights will be obtained by us or that our customers will accept the
future offerings that we develop. The result could be increased expenses without increased revenues putting downward pressure on our results
of operations and financial performance.

 A significant disruption
in our computer systems and our inability to adequately maintain and update those systems could adversely affect our operations and our
ability to maintain user confidence.

 We rely extensively on our
computer systems to manage and account for inventory, process user transactions, manage and maintain the privacy of users data, communicate
with our vendors and other third parties, service accounts, and summarize and analyze results. We also rely on continued and unimpeded
access to the Internet to use our computer systems. Our systems are subject to damage or interruption from power outages, telecommunications
failures, computer viruses, malicious attacks, security breaches, and catastrophic events. If our systems are damaged or fail to function
properly or reliably, we may incur substantial repair or replacement costs, experience data loss or theft and impediments to our ability
to manage inventories or process user transactions, engage in additional promotional activities to retain our users, and encounter lost
user confidence, which could adversely affect our results of operations.

 We continually invest to
maintain and update our computer systems. Implementing significant system changes increases the risk of computer system disruption. The
potential problems and interruptions associated with implementing technology initiatives, as well as providing training and support for
those initiatives, could disrupt or reduce our operational efficiency, and could negatively impact user experience and user confidence.

 If our efforts to protect
the security of information about our resellers, customers, and other third parties are unsuccessful, we may face additional costly government
enforcement actions and private litigation, and our sales and reputation could suffer.

 We regularly receive and
store information about our resellers, customers, merchants, vendors and other third parties. We have programs in place to detect, contain,
and respond to data security incidents. However, because the techniques used to obtain unauthorized access, disable or degrade service,
or sabotage systems change frequently and may be difficult to detect for long periods of time, we may be unable to anticipate these techniques
or implement adequate preventive measures. In addition, hardware, software, or applications we develop or procure from third parties or
through open source solutions may contain defects in design or manufacture or other problems that could unexpectedly compromise information
security. Unauthorized parties may also attempt to gain access to our systems or facilities, or those of third parties with whom we do
business, through fraud, trickery, or other forms of deceiving our team members, contractors, and vendors.

 To date, we have not encountered
significant incidents of data breach or breaches that were material to our consolidated financial statements. If we, our vendors, or other
third parties with whom we do business experience significant data security breaches or fail to detect and appropriately respond to significant
data security breaches, we could be exposed to government enforcement actions and private litigation. In addition, our users could lose
confidence in our ability to protect their information, which could cause them to discontinue using our e-wallets, our digital products,
or loyalty programs, or stop shopping with us altogether.

 The success of our
business depends on our ability to maintain and enhance our brand.

 We believe that maintaining
and enhancing our brand is of significant importance to the success of our business. Our well-recognized brand is critical to increasing
our user base and, in turn, expanding our shoppers for our e-commerce platform and attractiveness to advertising customers and content
providers. Since the internet video industry is highly competitive, maintaining and enhancing our brand depends largely on our ability
to become and remain a market leader in Hong Kong, which may be difficult and expensive to accomplish. To the extent our original content
is perceived as low quality or otherwise not appealing to users, our ability to maintain and enhance our brand may be adversely impacted
which in turn may result in a loss of users for our mobile and online video and e-commerce platform.

 We may grow our business through acquisitions
in the near future, which may result in operating difficulties, dilution, and other harmful consequences.

 We expect to achieve our
business plan through a combination of organic growth and acquisitions and investments. We periodically evaluate an array of potential
strategic transactions and may make one or more acquisitions in the near future. The process of integrating an acquired company, business,
or technology may create unforeseen operating difficulties and expenditures. The areas where we face risks include:

 Implementation or remediation of controls, procedures, and policies at the acquired company;

 Diversion of management time and focus from operating our business to acquisition integration challenges;

 Cultural challenges associated with integrating employees from the acquired company into our organization;

 Retention of employees from the businesses we acquire;

 Integration of the acquired company's accounting, management information, human resource, and other administrative systems;

 Liability for activities of the acquired company before the acquisition, including patent and trademark infringement claims, violations of laws, commercial disputes, tax liabilities, and other known and unknown liabilities;

 Litigation or other claims in connection with the acquired company, including claims from terminated employees, customers, former stockholders, or other third parties;

 In the case of foreign acquisitions, the need to integrate operations across different cultures and languages and to address the particular economic, currency, political, and regulatory risks associated with specific countries; and

 Failure to successfully further develop the acquired product, service or technology.

 Our failure to address these
risks or other problems encountered in connection with future acquisitions and investments could cause us to fail to realize the anticipated
benefits of such acquisitions or investments, incur unanticipated liabilities, and harm our business generally.

 Future acquisitions may also
result in dilutive issuances of our equity securities, the incurrence of debt, contingent liabilities, or amortization expenses, or write-offs
of goodwill, any of which could harm our financial condition. Also, the anticipated benefit of many of our acquisitions may not materialize.

 Other factors can have
a material adverse effect on our future profitability and financial condition.

 Many other factors can affect
our profitability and financial condition, including:

 changes in, or interpretations of, laws and regulations including changes in accounting standards and taxation requirements;

 changes in the rate of inflation, interest rates and the performance of investments held by us;

 changes in the creditworthiness of counterparties that transact business with;

 changes in business, economic, and political conditions, including: war, political instability, terrorist attacks, the threat of future terrorist activity and related military action; natural disasters; the cost and availability of insurance due to any of the foregoing events; labor disputes, strikes, slow-downs, or other forms of labor or union activity; and, pressure from third-party interest groups;

 changes in our business and investments and changes in the relative and absolute contribution of each to earnings and cash flow resulting from evolving business strategies, changing product mix, changes in tax rates and opportunities existing now or in the future;

 difficulties related to our information technology systems, any of which could adversely affect business operations, including any significant breakdown, invasion, destruction, or interruption of these systems;

 changes in credit markets impacting our ability to obtain financing for our business operations; or

 legal difficulties, any of which could preclude or delay commercialization of products or technology or adversely affect profitability, including claims asserting statutory or regulatory violations, adverse litigation decisions, and issues regarding compliance with any governmental consent decree.

 Risk Factors Relating to Doing Business in Hong Kong

 The PRC government
has significant oversight and discretion over the conduct of a Hong Kong company's business operations or to exert control over
any offering of securities conducted overseas and/or foreign investment in China-based issuers, and may intervene with or influence our
operations, may limit or completely hinder our ability to offer or continue to offer securities to investors, and may cause the value
of such securities to significantly decline or be worthless, as the government deems appropriate to further regulatory, political and
societal goals.

 The PRC government may intervene
or influence our operations at any time with little to no advanced notice, which could result in a material change in our operations and/or
the value of our common stock. For example, the PRC government has recently published new policies that significantly affected certain
industries such as the education and internet industries, and we cannot rule out the possibility that it will in the future release regulations
or policies regarding any industry that could adversely affect the business, financial condition and results of operations of our company.
Furthermore, the PRC government has also recently indicated an intent to exert more oversight and control over securities offerings and
other capital markets activities that are conducted overseas and foreign investment in China-based companies. Any such action, once taken
by the PRC government, could significantly limit or completely hinder our ability to offer or continue to offer securities to investors
and cause the value of such securities to significantly decline or in extreme cases, become worthless.

 Recently, the PRC government
initiated a series of regulatory actions and statements to regulate business operations 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 variable
interest entity structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts in anti-monopoly
enforcement. We believe we are not subject to cybersecurity review with the Cyberspace Administration of China, or CAC, given that: (i)
our products and services are offered not directly to individual users but through our institutional customers; (ii) we do not possess
a large amount of personal information in our business operations; and (iii) data processed in our business does not have a bearing on
national security and thus may not be classified as core or important data by the authorities. See also " Risk Factors - We
may become subject to a variety of laws and regulations in the PRC regarding privacy, data security, cybersecurity, and data protection.
We may be liable for improper use or appropriation of personal information provided by our customers."

 We believe that we are not
subject to merger control review by China's anti-monopoly enforcement agency due to the level of our revenues which provided from
us and audited by our auditor, and the fact that we currently do not expect to propose or implement any acquisition of control of, or
decisive influence over, any company with revenues within China of more than RMB400 million. Currently, these statements and regulatory
actions have had no impact on our daily business operation, the ability to accept foreign investments and list our securities on an U.S.
or other foreign exchange. 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 our daily business
operation, the ability to accept foreign investments and list our securities on an U.S. or other foreign exchange.

 We face the risk that
changes in the policies of the PRC government could have a significant impact upon the business we may be able to conduct in the Hong
Kong and the profitability of such business.

 Our business and assets are
primarily located in Hong Kong. Accordingly, economic, political and legal developments in Hong Kong and the PRC will significantly affect
our business, financial condition, results of operations and prospects. Policies of the PRC government can have significant effects on
economic conditions in Hong Kong. While we believe that the PRC will continue to strengthen its economic and trading relationships with
foreign countries and that business development in the PRC will continue to follow market forces, we cannot assure you that this will
be the case. Our interests may be adversely affected by changes in policies by the PRC government, including:

 changes in laws, regulations or their interpretation especially with respect to application of PRC tax, labor, currency restriction and other laws to Hong Kong operations;

 confiscatory taxation or changes in taxation;

 Currency revaluations or restrictions on currency conversion, imports or sources of supplies, or ability to continue as a for-profit enterprise;

 expropriation or nationalization of private enterprises; and

 the allocation of resources.

 Substantial uncertainties
and restrictions with respect to the political and economic policies of the PRC government and PRC laws and regulations could have a significant
impact upon the business that we may be able to conduct in Hong Kong and accordingly on the results of our operations and financial condition.

 Our business operations may
be adversely affected by the current and future political environment in the PRC. The PRC government has exercised and continues to exercise
substantial control over virtually every sector of the Chinese economy through regulation and state ownership. We expect the Hong Kong
legal system to rapidly evolve in the near future and may become closer aligned with legal system in China with the PRC government exerting
more oversight and control over companies operating in Hong Kong, offerings conducted overseas and or foreign investment in Hong Kong
based issuers. The interpretations of many laws, regulations and rules may not always be uniform and the enforcement of these laws, regulations
and rules may involve uncertainties for you and us. Our ability to operate in Hong Kong, conduct overseas offerings and continue to investment
in Hong Kong based issuers may be harmed by these changes in its laws and regulations, including those relating to taxation, import and
export tariffs, healthcare regulations, environmental regulations, land use and property ownership rights, and other matters. Accordingly,
government actions in the future, including any decision not to continue to support recent economic reforms and to return to a more centrally
planned economy or regional or local variations in the implementation of economic policies, could have a significant effect on economic
conditions in Hong Kong or particular regions thereof, and could limit or completely hinder our ability to offer or continue to offer
securities to investors or require us to divest ourselves of any interest we then hold in Hong Kong properties or joint ventures. Any
such actions (including divesture or similar actions) could result in a material adverse effect on us and on your investment in us and
could render our securities and your investment in our securities worthless.

 There are substantial uncertainties
regarding the interpretation and application of PRC laws and regulations, including, but not limited to, the laws and regulations governing
our business, or the enforcement and performance of our contractual arrangements with borrowers in the event of the imposition of statutory
liens, death, bankruptcy or criminal proceedings. Only after 1979 did the Chinese government begin to promulgate a comprehensive system
of laws that regulate economic affairs in general, deal with economic matters such as foreign investment, corporate organization and governance,
commerce, taxation and trade, as well as encourage foreign investment in China. Although the influence of the law has been increasing,
China has not developed a fully integrated legal system and recently enacted laws and regulations may not sufficiently cover all aspects
of economic activities in China. Also, because these laws and regulations are relatively new, and because of the limited volume of published
cases and their lack of force as precedents, interpretation and enforcement of these laws and regulations involve significant uncertainties.
New laws and regulations that affect existing and proposed future businesses may also be applied retroactively. In addition, there have
been constant changes and amendments of laws and regulations over the past 30 years in order to keep up with the rapidly changing society
and economy in China. Because government agencies and courts that provide interpretations of laws and regulations and decide contractual
disputes and issues may change their interpretation or enforcement very rapidly with little advance notice at any time, we cannot predict
the future direction of Chinese legislative activities with respect to either businesses with foreign investment or the effectiveness
on enforcement of laws and regulations in China. The uncertainties, including new laws and regulations and changes of existing laws, as
well as, may cause possible problems to foreign investors.

 Although the PRC government
has been pursuing economic reform policies for more than two decades, the PRC government continues to exercise significant control over
economic growth in the PRC through the allocation of resources, controlling payments of foreign currency, setting monetary policy and
imposing policies that impact particular industries in different ways. We cannot assure you that the PRC government will continue to pursue
policies favoring a market oriented economy or that existing policies will not be significantly altered, especially in the event of a
change in leadership, social or political disruption, or other circumstances affecting political, economic and social life in the PRC.

 The Holding Foreign
Companies Accountable Act requires the Public Company Accounting Oversight Board (PCAOB) to be permitted to inspect the issuer's public
accounting firm within three years. There are uncertainties under the PRC Securities Law relating to the procedures and requisite timing
for the U.S. securities regulatory agencies to conduct investigations and collect evidence within the territory of the PRC. If the U.S.
securities regulatory agencies are unable to conduct such investigations, they may suspend or de-register our registration with the SEC
and delist our securities from applicable trading market within the US.

 The Holding Foreign Companies
Accountable Act was signed into law on December 18, 2020, and requires Auditors of publicly traded companies to submit to regular inspections
every three years to assess such auditors' compliance with applicable professional standards. On June 22, 2021, the U.S. Senate
passed the Accelerating Holdings Foreign Companies Accountable Act which, if passed by the U.S. House of Representatives and signed into
law, would reduce the number of consecutive non-inspection years required for triggering the prohibitions under the HFCA Act from three
years to two, thus reducing the time before our securities may be prohibited from trading or delisted. As a result, the time period before
our securities may be prohibited from trading or delisted will be reduced. If the U.S. securities regulatory agencies are unable to conduct
such investigations, there exists a risk that they may determine to suspend or de-register our registration with the SEC and may also
delist our securities from applicable trading market within the US. On December 2, 2021, the SEC adopted final amendments implementing
congressionally mandated submission and disclosure requirements of the Holding Foreign Companies Accountable 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.

 According to Article 177
of the Securities Law of the PRC ("Article 177"), overseas securities regulatory authorities are prohibited from engaging
in activities pertaining to investigations or evidence collection directly conducted within the territories of the PRC, and Chinese entities
or individuals are further prohibited from providing documents and information in connection with securities business activities to any
organizations and/or persons abroad without the prior consent of the securities regulatory authority of the State Council and the competent
departments of the State Council. As of the date of this prospectus, we are not aware of any implementing rules or regulations which have
been published regarding application of Article 177.

 We believe Article 177 is
only applicable where the activities of overseas authorities constitute a direct investigation or evidence collection by such authorities
within the territory of the PRC. Our principal business operation is conducted in Hong Kong. In the event that the U.S. securities regulatory
agencies carry out an investigation on us such as an enforcement action by the Department of Justice, the SEC or other authorities, such
agencies' activities will constitute conducting an investigation or collecting evidence directly within the territory of the PRC
and accordingly fall within the scope of Article 177. In that case, the U.S. securities regulatory agencies may have to consider establishing
cross-border cooperation with the securities regulatory authority of the PRC by way of judicial assistance, diplomatic channels or establishing
a regulatory cooperation mechanism with the securities regulatory authority of the PRC. However, there is no assurance that the U.S. securities
regulatory agencies will succeed in establishing such cross-border cooperation in this particular case and/or establish such cooperation
in a timely manner.

 Furthermore, it remains unclear
as to how Article 177 will be interpreted, implemented or applied by the Chinese Securities Regulatory Commission or other relevant government
authorities. As such, there are uncertainties as to the procedures and requisite timing for the U.S. securities regulatory agencies to
conduct investigations and collect evidence within the territory of the PRC. The Holding Foreign Companies Accountable Act requires the
Public Company Accounting Oversight Board (PCAOB) be permitted to inspect the issuer's public accounting firm within three years. If the
U.S. securities regulatory agencies are unable to conduct such investigations, there exists a risk that they may determine to suspend
or de-register our registration with the SEC and may also delist our securities from applicable trading market within the US.

 Our auditor is located in
Kuala, Lumpur and is subject to PCAOB inspections with its most recent inspection occurring during 2021. Therefore, it is not subject
to the determinations announced by the PCAOB on December 16, 2021. However, in the event the Malaysian authorities subsequently take a
position disallowing the PCAOB to inspect our auditor, then we would need to change our auditor. Furthermore, due to the recent developments
in connection with the implementation of the Holding Foreign Companies Accountable Act, we cannot assure you whether the SEC or other
regulatory authorities would apply additional and more stringent criteria to us after considering the effectiveness of our auditor's
audit procedures and quality control procedures, adequacy of personnel and training, or sufficiency of resources, geographic reach or
experience as it relates to the audit of our financial statements. The requirement in the HFCA Act that the PCAOB be permitted to inspect
the issuer's public accounting firm within two or three years, may result in the delisting of our securities from applicable trading
markets in the U.S, in the future if the PCAOB is unable to inspect our accounting firm at such future time.

 Adverse regulatory
developments in China may subject us to additional regulatory review, and additional disclosure requirements and regulatory scrutiny to
be adopted by the SEC in response to risks related to recent regulatory developments in China may impose additional compliance requirements
for companies like us with Hong Kong-based operations, all of which could increase our compliance costs, subject us to additional disclosure
requirements.

 The recent regulatory developments
in China, in particular with respect to restrictions on China-based companies raising capital offshore, may lead to additional regulatory
review in China over our financing and capital raising activities in the United States. In addition, we may be subject to industry-wide
regulations that may be adopted by the relevant PRC authorities, which may have the effect of limiting our service offerings, restricting
the scope of our operations in Hong Kong, or causing the suspension or termination of our business operations in Hong Kong entirely, all
of which will materially and adversely affect our business, financial condition and results of operations. We may have to adjust, modify,
or completely change our business operations in response to adverse regulatory changes or policy developments, and we cannot assure you
that any remedial action adopted by us can be completed in a timely, cost-efficient, or liability-free manner or at all.

 On July 30, 2021, in
response to the recent regulatory developments in China and actions adopted by the PRC government, the Chairman of the SEC issued a statement
asking the SEC staff to seek additional disclosures from offshore issuers associated with China-based operating companies (including Hong
Kong) before their registration statements will be declared effective. On August 1, 2021, the China Securities Regulatory Commission stated
in a statement that it had taken note of the new disclosure requirements announced by the SEC regarding the listings of Chinese companies
and the recent regulatory development in China, and that both countries should strengthen communications on regulating China-related issuers.
Since we operate in Hong Kong, we cannot guarantee that we will not be subject to tightened regulatory review and we could be exposed
to government interference from China.

 Under the PRC enterprise income tax law,
we may be classified as a "PRC resident enterprise", which could result in unfavorable tax consequences to us and our shareholders
and have a material adverse effect on our results of operations and the value of your investment.

 Under the PRC enterprise
income tax law that became effective on January 1, 2008, an enterprise established outside the PRC with "de facto management bodies"
within the PRC is considered a "resident enterprise" for PRC enterprise income tax purposes and is generally subject to a
uniform 25% enterprise income tax rate on its worldwide income. On April 22, 2009, the State Administration of Taxation, or the SAT, issued
the Notice Regarding the Determination of Chinese-Controlled Overseas Incorporated Enterprises as PRC Tax Resident Enterprise on the Basis
of De Facto Management Bodies, or SAT Circular 82, which provides certain specific criteria for determining whether the "de facto
management body" of a PRC-controlled enterprise that is incorporated offshore is located in China. Further to SAT Circular 82, on
August 3, 2011, the SAT issued the Administrative Measures of Enterprise Income Tax of Chinese-Controlled Offshore Incorporated Resident
Enterprises (Trial), or SAT Bulletin 45, which became effective on September 1, 2011, to provide more guidance on the implementation of
SAT Circular 82.

 According to SAT Circular
82, an offshore incorporated enterprise controlled by a PRC enterprise or a PRC enterprise group will be considered a PRC tax resident
enterprise by virtue of having its "de facto management body" in China and will be subject to PRC enterprise income tax on
its worldwide income only if all of the following conditions are met: (a) the senior management and core management departments in
charge of its daily operations function have their presence mainly in the PRC; (b) its financial and human resources decisions are subject
to determination or approval by persons or bodies in the PRC; (c) its major assets, accounting books, company seals, and minutes
and files of its board and shareholders' meetings are located or kept in the PRC; and (d) not less than half of the enterprise's
directors or senior management with voting rights habitually reside in the PRC. SAT Bulletin 45 further clarifies the resident status
determination, post-determination administration as well as competent tax authorities.

 Although SAT Circular 82
and SAT Bulletin 45 only apply to offshore incorporated enterprises controlled by PRC enterprises or PRC enterprise group instead of those
controlled by PRC individuals or foreigners, the determination criteria set forth therein may reflect SAT's general position on
how the term "de facto management body" could be applied in determining the tax resident status of offshore enterprises, regardless
of whether they are controlled by PRC enterprises, individuals or foreigners.

 We believe that none of our
entities outside of China is a PRC resident enterprise for PRC tax purposes even if the standards for "de facto management body"
prescribed in the SAT Circular 82 are applicable to us. However, the tax resident status of an enterprise is subject to determination
by the PRC tax authorities and uncertainties remain with respect to the interpretation of the term "de facto management body."
If the PRC tax authorities determine that we or any of our subsidiaries outside of China is a PRC resident enterprise for enterprise income
tax purposes, we may be subject to PRC enterprise income on our worldwide income at the rate of 25%, which could materially reduce our
net income. In addition, we will also be subject to PRC enterprise income tax reporting obligations.

 Although dividends paid by
one PRC tax resident to another PRC tax resident should qualify as "tax-exempt income" under the enterprise income tax law,
we cannot assure you that dividends by our Hong Kong subsidiaries to our British Virgin Islands holding company will not be subject to
a 10% withholding tax, as the PRC foreign exchange control authorities, which enforce the withholding tax on dividends, and the PRC tax
authorities have not yet issued guidance with respect to the processing of outbound remittances to entities that are treated as resident
enterprises for PRC enterprise income tax purposes.

 Non-PRC resident holders
of our common stock may also be subject to PRC withholding tax on dividends paid by us and PRC tax on gains realized on the sale or other
disposition of common stock, if such income is sourced from within the PRC. The tax would be imposed at the rate of 10% in the case of
non-PRC resident enterprise holders and 20% in the case of non-PRC resident individual holders. In the case of dividends, we would be
required to withhold the tax at source. Any PRC tax liability may be reduced under applicable tax treaties or similar arrangements. Although
our holding company is incorporated in the British Virgin Islands, it remains unclear whether dividends received and gains realized by
non-PRC resident holders of our common stock will be regarded as income from sources within the PRC if we are classified as a PRC resident
enterprise. Any such tax will reduce the returns on your investment in our common stock.

 We cannot assure you that
the PRC tax authorities will not, at their discretion, adjust any capital gains and impose tax return filing and withholding or tax payment
obligations with respect to any internal restructuring, and our Hong Kong subsidiaries may be requested to assist in the filing. Any PRC
tax imposed on a transfer of our shares not through a public stock exchange, or any adjustment of such gains would cause us to incur additional
costs and may have a negative impact on the value of your investment in the company.

 We face uncertainty with respect to indirect
transfers of equity interests in PRC resident enterprises by their non-PRC holding companies.

 We face uncertainties regarding
the reporting on and consequences of private equity financing transactions involving the transfer of shares in the Company by non-resident
investors. In February 2015, the SAT issued the Bulletin on Issues of Enterprise Income Tax on Indirect Transfers of Assets by Non-PRC
Resident Enterprises, or SAT Bulletin 7, as amended in 2017. Pursuant to this bulletin, an "indirect transfer" of assets,
including equity interests in a PRC resident enterprise, by non-PRC resident enterprises may be re-characterized and treated as a direct
transfer of PRC taxable assets, if such arrangement does not have a reasonable commercial purpose and was established for the purpose
of avoiding payment of PRC enterprise income tax. As a result, gains derived from such indirect transfer may be subject to PRC enterprise
income tax. According to SAT Bulletin 7, "PRC taxable assets" include assets attributed to an establishment in China, immovable
properties located in China, and equity investments in PRC resident enterprises, in respect of which gains from their transfer by a direct
holder, being a non-PRC resident enterprise, would be subject to PRC enterprise income taxes. When determining whether there is a "reasonable
commercial purpose" of the transaction arrangement, features to be taken into consideration include: whether the main value of the
equity interest of the relevant offshore enterprise derives from PRC taxable assets; whether the assets of the relevant offshore enterprise
mainly consist of direct or indirect investment in China or if its income mainly derives from China; whether the offshore enterprise and
its subsidiaries directly or indirectly holding PRC taxable assets have real commercial nature which is evidenced by their actual function
and risk exposure; the duration of existence of the business model and organizational structure; the replicability of the transaction
by direct transfer of PRC taxable assets; and the tax situation of such indirect transfer and applicable tax treaties or similar arrangements.
In respect of an indirect offshore transfer of assets of a PRC establishment, the resulting gain is to be included with the enterprise
income tax filing of the PRC establishment or place of business being transferred, and would consequently be subject to PRC enterprise
income tax at a rate of 25%. Where the underlying transfer relates to the immovable properties located in China or to equity investments
in a PRC resident enterprise, which is not related to a PRC establishment or place of business of a non-resident enterprise, a PRC enterprise
income tax of 10% would apply, subject to available preferential tax treatment under applicable tax treaties or similar arrangements,
and the party who is obligated to make the transfer payments has the withholding obligation. SAT Bulletin 7 does not apply to transactions
of sale of shares by investors through a public stock exchange where such shares were acquired from a transaction through a public stock
exchange.

 There is uncertainty as to
the application of SAT Bulletin 7. We face uncertainties as to the reporting and other implications of certain past and future transactions
where PRC taxable assets are involved, such as offshore restructuring, sale of the shares in our offshore subsidiaries or investments.
We may be subject to filing obligations or taxed if we are a transferor in such transactions, and may be subject to withholding obligations
if we are a transferee in such transactions under SAT Bulletin 7. For transfer of shares in us by investors that are non-PRC resident
enterprises, our Hong Kong subsidiaries may be requested to assist in the filing under SAT Bulletin 7. As a result, we may be required
to expend valuable resources to comply with SAT Bulletin 7 or to request the relevant transferors from whom we purchase taxable assets
to comply with these circulars, or to establish that we should not be taxed under these circulars, which may have a material adverse effect
on our financial condition and results of operations.

 The M&A Rules and
certain other PRC regulations may make it more difficult for us to pursue growth through acquisitions.

 The Regulations on Mergers
and Acquisitions of Domestic Companies by Foreign Investors, or the M&A Rules, adopted by six PRC regulatory agencies in 2006 and
amended in 2009, and some other regulations and rules concerning mergers and acquisitions established complex procedures and requirements
for acquisition of Chinese companies by foreign investors, including requirements in some instances that the Ministry of Commerce of the
PRC be notified in advance of any change-of-control transaction in which a foreign investor takes control of a PRC domestic
enterprise. Moreover, the Anti-Monopoly Law promulgated by the Standing Committee of the National People's Congress, which became
effective in 2008, requires that transactions which are deemed concentrations and involve parties with specified turnover thresholds must
be cleared by the Ministry of Commerce before they can be completed. In addition, the security review rules issued by the Ministry of
Commerce and became effective in September 2011 specify that mergers and acquisitions by foreign investors that raise "national
defense and security" concerns and mergers and acquisitions through which foreign investors may acquire de facto control over domestic
enterprises that raise "national security" concerns are subject to strict review by the Ministry of Commerce, and the rules
prohibit any activities attempting to bypass a security review, including by structuring the transaction through a proxy or contractual
control arrangement.

 In the future, we may pursue
potential strategic acquisitions that are complementary to our business and operations. Complying with the requirements of the above-mentioned
regulations and other rules to complete such transactions could be time-consuming, and any required approval processes, including obtaining
approval or clearance from the Ministry of Commerce, may delay or inhibit our ability to complete such transactions, which could affect
our ability to expand our business or maintain our market share. Furthermore, according to the M&A Rules, if a PRC entity or individual
plans to merger or acquire its related PRC entity through an overseas company legitimately incorporated or controlled by such entity or
individual, such a merger and acquisition will be subject to examination and approval by the Ministry of Commerce. The application and
interpretations of M&A Rules are still uncertain, and there is possibility that the PRC regulators may promulgate new rules or
explanations requiring that we obtain approval of the Ministry of Commerce for our completed or ongoing mergers and acquisitions. There
is no assurance that we can obtain such approval from the Ministry of Commerce for our mergers and acquisitions, and if we fail to obtain
those approvals, we may be required to suspend our acquisition and be subject to penalties. Any uncertainties regarding such approval
requirements could have a material adverse effect on our business, results of operations and corporate structure.

 Furthermore, the M&A
Rules, among other things, purport to require that an offshore special purpose vehicle controlled directly or indirectly by PRC domestic
companies or individuals and formed for purposes of overseas listing through acquisition of PRC domestic interests obtain the approval
of the CSRC prior to the listing and trading of such special purpose vehicle's securities on an overseas stock exchange. The CSRC
has not issued any definitive rules or interpretations concerning whether offerings such as this offering are subject to the CSRC approval
procedures under the M&A Rules. Although we are of the position that we are not required to obtain approval from the CSRC under the
M&A Rules for listing and trading of our securities, uncertainties still exist as to how the M&A Rules will be interpreted and
implemented and the opinion stated above is subject to any new laws, rules and regulations or detailed implementations and interpretations
in any form relating to the M&A Rules.

 PRC regulations relating to offshore investment
activities by PRC residents may limit our Hong Kong subsidiaries' ability to increase their registered capital or distribute profits
to us or otherwise expose us to liability and penalties under PRC law.

 The State Administration
of Foreign Exchange ("SAFE") promulgated the Circular on Relevant Issues Relating to PRC Resident's Investment and Financing
and Roundtrip Investment through Special Purpose Vehicles, or SAFE Circular 37, in July 2014 that requires PRC residents or entities
to register with SAFE or its local branch in connection with their establishment or control of an offshore entity established for the
purpose of overseas investment or financing. In addition, such PRC residents or entities must update their SAFE registrations when the
offshore special purpose vehicle undergoes material events relating to any change of basic information (including change of such PRC residents
or entities, name and operation term), increases or decreases in investment amount, transfers or exchanges of shares, or mergers or divisions.

 SAFE Circular 37 is issued
to replace the Circular on Relevant Issues Concerning Foreign Exchange Administration for PRC Residents Engaging in Financing and Roundtrip
Investments through Overseas Special Purpose Vehicles. If our shareholders who are PRC residents or entities do not complete their registration
with the local SAFE branches, our Hong Kong subsidiaries may be prohibited from distributing their profits and proceeds from any reduction
in capital, share transfer or liquidation to us, and we may be restricted in our ability to contribute additional capital to our Hong
Kong subsidiaries. Moreover, failure to comply with SAFE registration described above could result in liability under PRC laws for evasion
of applicable foreign exchange restrictions.

 However, we may not be informed
of the identities of all the PRC residents or entities holding direct or indirect interest in us, nor can we compel our shareholders to
comply with the requirements of SAFE Circular 37. As a result, we cannot assure you that all of our shareholders who are PRC residents
or entities have complied with, and will in the future make or obtain any applicable registrations or approvals required by, SAFE Circular
37. Failure by such shareholders to comply with SAFE Circular 37, or failure by us to amend the foreign exchange registrations of its
Hong Kong subsidiaries, if applicable, could subject us to fines or legal sanctions, restrict our overseas or cross-border investment
activities, limit our Hong Kong subsidiaries' ability to make distributions or pay dividends to us or affect o our ownership structure,
which could adversely affect our business and prospects. For a detailed description of the potential government regulations facing the
Company and the offering associated with our operations in Hong Kong, please refer to " Government and Industry Regulations –
Regulations Relating to Foreign Exchange and Dividend Distribution."

 PRC regulation of loans
to and direct investment in PRC entities by offshore holding companies and governmental control of currency conversion may delay or prevent
us from using the proceeds we receive from offshore financing activities to make loans to or make additional capital contributions to
our Hong Kong subsidiaries, which could materially and adversely affect our liquidity and our ability to fund and expand business.

 Any transfer of funds by
us to our Hong Kong subsidiaries, either as a shareholder loan or as an increase in registered capital, may become subject to approval
by or registration or filing with relevant governmental authorities in China. According to the relevant PRC regulations on foreign-invested
enterprises in China, capital contributions to PRC subsidiaries are subject to the approval of or filing with the Ministry of Commerce
in its local branches and registration with a local bank authorized by SAFE. It is unclear if Hong Kong subsidiaries will be deemed a
PRC subsidiary. If Hong Kong subsidiaries are deemed to be PRC subsidiaries, (i) any foreign loan procured by our Hong Kong subsidiaries
will be required to be registered with SAFE or its local branches or filed with SAFE in its information system; and (ii) our Hong
Kong subsidiaries will not be able to procure loans which exceed the difference between their total investment amount and registered capital
or, as an alternative, only procure loans subject to the calculation approach and limitation as provided in the People's Bank of
China Notice No. 9 ("PBOC Notice No. 9"). We may not be able to obtain these government approvals or complete such
registrations on a timely basis, if at all, with respect to future capital contributions or foreign loans by us to our Hong Kong subsidiaries,
if required. If we fail to receive such approvals or complete such registration or filing, our ability to use the proceeds we receive
from our offshore financing activities and to capitalize our Hong Kong operations may be negatively affected, which could adversely affect
our liquidity and ability to fund and expand our business.

 The Circular on Reforming
the Administration of Foreign Exchange Settlement of Capital of Foreign-Invested Enterprises, or SAFE Circular 19, effective as of June 1,
2015, as amended by Circular of the State Administration of Foreign Exchange on Reforming and Regulating Policies on the Control over
Foreign Exchange Settlement under the Capital Account, or SAFE Circular 16, effective on June 9, 2016, allows FIEs to settle their
foreign exchange capital at their discretion, but continues to prohibit FIEs from using the Renminbi fund converted from their foreign
exchange capitals for expenditure beyond their business scopes, and also prohibit FIEs from using such Renminbi fund to provide loans
to persons other than affiliates unless otherwise permitted under its business scope. If Safe Circulars 16 and 19 are interpreted to apply
to the Hong Kong Dollar, our ability to use Hong Kong Dollars converted from the net proceeds from our offshore financing activities to
fund the establishment of new entities in Hong Kong, to invest in or acquire any other Hong Kong or PRC companies may be limited, which
may adversely affect our business, financial condition and results of operations.

 Our Hong Kong subsidiaries
may be subject to restrictions on paying dividends or making other payments to us, which may restrict its ability to satisfy liquidity
requirements, conduct business and pay dividends to holders of our common stock.

 We are a holding company
incorporated in Nevada. We rely 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. Current PRC regulations permit PRC subsidiaries to pay dividends to foreign parent companies
only out of their accumulated after-tax profits upon satisfaction of relevant statutory condition and procedures, if any, determined in
accordance with Chinese accounting standards and regulations. In addition, PRC subsidiaries are required to set aside at least 10% of
their accumulated profits each year, if any, to fund certain reserve funds until the total amount set aside reaches 50% of its registered
capital. Furthermore, if PRC subsidiaries and their subsidiaries incur debt on their own behalf in the future, the instruments governing
the debt may restrict their ability to pay dividends or make other payments to the foreign parent company, which may restrict the ability
of the foreign parent company to satisfy its liquidity requirements. If such restrictions on dividend and other payments are interpreted
to apply to Hong Kong entities, our ability to rely on payments from our Hong Kong subsidiaries will be adversely affected.

 In addition, the Enterprise
Income Tax Law of the PRC, or the PRC EIT Law, and its implementation rules provide that withholding tax rate of 10% will be applicable
to dividends payable by Chinese companies to non-PRC-resident enterprises unless otherwise exempted or reduced according to treaties or
arrangements between the PRC central government and governments of other countries or regions where the non-PRC-resident enterprises are
incorporated. For a detailed description of the potential government regulations facing the Company and the offering associated with our
operations in Hong Kong, please refer to " Government and Industry Regulations – Regulations Relating to Foreign Exchange
and Dividend Distribution."

 Governmental control of currency conversion
may limit our ability to utilize revenues effectively and affect the value of your investment.

 The PRC government imposes
controls on the convertibility of the Renminbi into foreign currencies and, in certain cases, the remittance of currency out of China.
Approval from or registration with appropriate government authorities is required where Renminbi is to be converted into foreign currency
and remitted out of China to pay capital expenses such as the repayment of loans denominated in foreign currencies. In light of the flood
of capital outflows of China in 2016 due to the weakening Renminbi, the PRC government has imposed more restrictive foreign exchange policies
and stepped up scrutiny of major outbound capital movement including overseas direct investment. More restrictions and substantial vetting
process are put in place by SAFE to regulate cross-border transactions falling under the capital account. If any of our shareholders regulated
by such policies fail to satisfy the applicable overseas direct investment filing or approval requirement timely or at all, it may be
subject to penalties from the relevant PRC authorities. The PRC government may at its discretion further restrict access in the future
to foreign currencies for current account transactions.

 We receive substantially
all of our revenues in Hong Kong Dollars. Under our current corporate structure, we and our British Virgin Islands holding company may
rely on dividend payments from our Hong Kong subsidiaries to fund any cash and financing requirements that we may have. If the PRC government
expands its currency controls to include the Hong Kong Dollar, we will be required to obtain SAFE approval to use cash generated from
the operations of our Hong Kong subsidiaries and consolidated affiliated entities to pay off their respective debt in a currency other
than Hong Kong Dollar or Renminbi owed to entities outside China, or to make other capital expenditure payments outside China in a currency
other than Renminbi or the Hong Kong Dollar. We may be prevented from obtaining sufficient foreign currencies to satisfy our foreign currency
demands. As a result, we may not be able to pay dividends in foreign currencies to our shareholders. For a detailed description of the
potential government regulations facing the Company and the offering associated with our operations in Hong Kong, please refer to " Government
and Industry Regulations – Regulations Relating to Foreign Exchange and Dividend Distribution."

 Failure to comply with
PRC regulations regarding the registration requirements for employee stock ownership plans or share option plans may subject the PRC plan
participants or us to fines and other legal or administrative sanctions.

 Pursuant to SAFE Circular
37, PRC residents who participate in share incentive plans in overseas non-publicly-listed companies may submit applications to SAFE or
its local branches for the foreign exchange registration with respect to offshore special purpose companies. In the meantime, our directors,
executive officers and other employees who are PRC citizens or who are non-PRC residents residing in the PRC for a continuous period of
not less than one year, subject to limited exceptions, and who have been granted incentive share awards by us, may follow the Notices
on Issues Concerning the Foreign Exchange Administration for Domestic Individuals Participating in Stock Incentive Plan of Overseas Publicly-Listed
Company, or 2012 SAFE notices, promulgated by the SAFE in 2012. Pursuant to the 2012 SAFE notices, PRC citizens and non-PRC citizens who
reside in China for a continuous period of not less than one year who participate in any stock incentive plan of an overseas publicly
listed company, subject to a few exceptions, are required to register with SAFE through a domestic qualified agent, which could be the
PRC subsidiaries of such overseas listed company, and complete certain other procedures. In addition, an overseas entrusted institution
must be retained to handle matters in connection with the exercise or sale of stock options and the purchase or sale of shares and interests.
Our executive officers and other employees who are PRC citizens or who reside in the PRC for a continuous period of not less than one
year and who have been granted options will be subject to these regulations. It is unclear if these regulations will be expanded to include
Hong Kong residents or citizens. Failure to complete the SAFE registrations may subject them to fines, and legal sanctions and may also
limit our ability to contribute additional capital into our Hong Kong subsidiaries and limit our Hong Kong subsidiaries' ability
to distribute dividends to us if Hong Kong residents or citizens are covered under these PRC regulations. We also face regulatory uncertainties
that could restrict our ability to adopt additional incentive plans for our directors, executive officers and employees under PRC law.

 The SAT has issued certain
circulars concerning employee share options and restricted shares. Under these circulars, employees working in China who exercise share
options or are granted restricted shares will be subject to PRC individual income tax. It is unclear whether these regulations will be
expanded in the future to cover our employees in Hong Kong. Our Hong Kong subsidiaries may become obligated to file documents related
to employee share options or restricted shares with relevant tax authorities and to withhold individual income taxes of those employees
who exercise their share options. If our employees fail to pay or we fail to withhold their income taxes according to relevant laws and
regulations, we may face sanctions imposed by the tax authorities or other PRC governmental authorities.

 Risks Related to our International Operations

 We are subject to risks
associated with doing business internationally including compliance with domestic and foreign laws and regulations, economic downturns,
political instability and other risks that could adversely affect our operating results.

 We conduct our businesses
and have assets located in Hong Kong. We are required to comply with numerous and broad reaching laws and regulations administered by
United States federal, state and local, and foreign governmental authorities. We must also comply with other general business regulations
such as those directed toward accounting and income taxes, anti-corruption, anti-bribery, global trade, handling of regulated substances,
and other commercial activities, conducted by our employees and third-party representatives globally. Any failure to comply with applicable
laws and regulations could subject us to administrative penalties and injunctive relief, and civil remedies including fines, injunctions,
and recalls of our products. In addition, changes to regulations or implementation of additional regulations may require us to modify
existing processing facilities and/or processes, which could significantly increase operating costs and negatively impact operating results.

 Our operating results may
be affected by changes in trade, monetary, fiscal and environmental policies, laws and regulations, and other activities of governments,
agencies, and similar organizations. These conditions include but are not limited to changes in a country's or region's economic
or political conditions, trade regulations affecting production, pricing and marketing of products, local labor conditions and regulations,
reduced protection of intellectual property rights, changes in the regulatory or legal environment, restrictions on currency exchange
activities, currency exchange fluctuations, burdensome taxes and tariffs, enforceability of legal agreements and judgments, other trade
barriers, and regulation or taxation of greenhouse gases. International risks and uncertainties, including changing social and economic
conditions as well as terrorism, political hostilities, and war, may limit our ability to transact business in these markets and may adversely
affect our revenues and operating results.

 We may be exposed to
liabilities under the Foreign Corrupt Practices Act, and any determination that we violated the Foreign Corrupt Practices Act could have
a material adverse effect on our business.

 We are subject to the Foreign
Corrupt Practice Act, or FCPA, and other laws that prohibit improper payments or offers of payments to foreign governments and their officials
and political parties by U.S. persons and issuers as defined by the statute for the purpose of obtaining or retaining business. We will
have operations, agreements with third parties and make sales in Asia, which may experience corruption. Our proposed activities in Asia
create the risk of unauthorized payments or offers of payments by one of the employees, consultants, or sales agents of our Company, because
these parties are not always subject to our control. It will be our policy to implement safeguards to discourage these practices by our
employees. Also, our existing practices and any future improvements may prove to be less than effective, and the employees, consultants,
or sales agents of our Company may engage in conduct for which we might be held responsible. Violations of the FCPA may result in severe
criminal or civil sanctions, and we may be subject to other liabilities, which could negatively affect our business, operating results
and financial condition. In addition, the government may seek to hold our Company liable for successor liability FCPA violations committed
by companies in which we invest or that we acquire.

 We expect our revenues
to be paid in non-U.S. currencies, and if currency exchange rates become unfavorable, we may lose some of the economic value of the revenues
in U.S. dollar terms.

 Our primary operations are
conducted in Hong Kong and our operating currency is the Hong Kong Dollar. Since we conduct business in currencies other than U.S. dollars
but report our financial results in U.S. dollars, we face exposure to fluctuations in currency exchange rates. For instance, if currency
exchange rates were to change unfavorably, the U.S. dollar equivalent of our operating income recorded in foreign currencies would be
diminished.

 We currently do not, but
may in the future, implement hedging strategies, such as forward contracts, options, and foreign exchange swaps to mitigate this risk.
There is no assurance that our efforts will successfully reduce or offset our exposure to foreign exchange fluctuations. Additionally,
hedging programs expose us to risks that could adversely affect our financial results, including the following:

 We have limited experience in implementing or operating hedging programs. Hedging programs are inherently risky and we could lose money as a result of poor trades;

 We may be unable to hedge currency risk for some transactions or match the accounting for the hedge with the exposure because of a high level of uncertainty or the inability to reasonably estimate our foreign exchange exposures;

 We may be unable to acquire foreign exchange hedging instruments in some of the geographic areas where we do business, or, where these derivatives are available, we may not be able to acquire enough of them to fully offset our exposure;

 We may determine that the cost of acquiring a foreign exchange hedging instrument outweighs the benefit we expect to derive from the derivative, in which case we would not purchase the derivative and would be exposed to unfavorable changes in currency exchange rates;

 To the extent we recognize a gain on a hedge transaction in one of our subsidiaries that is subject to a high statutory tax rate, and a loss on the related hedged transaction that is subject to a lower rate, our effective tax rate would be higher; and

 Significant fluctuations in foreign exchange rates could greatly increase our hedging costs.

 We anticipate increased
exposure to exchange rate fluctuations as we expand the breadth and depth of our international sales.

 In our financial statements,
we translate our local currency financial results into U.S. dollars based on average exchange rates prevailing during a reporting period
or the exchange rate at the end of that period. To the extent the U.S. dollar strengthens against foreign currencies, the translation
of these foreign currency denominated transactions could result in reduced revenue, operating expenses and net income for our international
operations. Similarly, to the extent the U.S. dollar weakens against foreign currencies, the translation of these foreign currency denominated
transactions could result in increased revenue, operating expenses and net income for our international operations.

 Because our holding
company structure creates restrictions on the payment of dividends, our ability to pay dividends is limited.

 We are a holding company
whose primary assets are our ownership of the equity interests in our subsidiaries. We conduct no other business and, as a result, we
depend entirely upon our subsidiaries' earnings and cash flow. If we decide in the future to pay dividends, as a holding company,
our ability to pay dividends and meet other obligations depends upon the receipt of dividends or other payments from our operating subsidiaries.
Our subsidiaries and projects may be restricted in their ability to pay dividends, make distributions or otherwise transfer funds to us
prior to the satisfaction of other obligations, including the payment of operating expenses or debt service, restrictions on the conversion
of local currency into U.S. dollars or other hard currency and other regulatory restrictions. If future dividends are paid in the Hong
Kong Dollars, fluctuations in the exchange rate for the conversion of any of these currencies into U.S. dollars may adversely affect the
amount received by U.S. stockholders upon conversion of the dividend payment into U.S. dollars. We do not presently have any intention
to declare or pay dividends in the future. You should not purchase shares of our common stock in anticipation of receiving dividends in
future periods.

 It may be difficult
for stockholders to enforce any judgment obtained in the United States against us, which may limit the remedies otherwise available to
our stockholders.

 Substantially all of our
assets are located in Hong Kong. Moreover, our current directors and officers are nationals of Hong Kong. All or a substantial portion
of the assets of this person are located outside the United States. As a result, it may be difficult for our stockholders to effect service
of process within the United States upon this person. In addition, there is uncertainty as to whether the courts of
Hong Kong would recognize or enforce judgments of U.S. courts obtained against us or such officers and/or directors predicated
upon the civil liability provisions of the securities law of the United States or any state thereof or be competent to hear
original actions brought in Hong Kong against us or such persons predicated upon the securities laws of the United
States or any state thereof.

 Risks Related to our Common Stock

 Due to the limited trading market for our securities,
you may have difficulty selling any shares you purchase in this offering.

 While our shares of common
stock are quoted on the OTCQB tier of the OTC Markets Group, Inc., there is presently no meaningful demand for our common stock and virtually
no public market exists for the shares being offered in this prospectus. The OTCQB is a regulated quotation service that displays real-time
quotes, last sale prices and volume information in over-the-counter securities. The OTCQB is not an issuer listing service, market or
exchange. Although the OTCQB does not have any listing requirements per se, to be eligible for quotation on the OTCQB, issuers must remain
current in their filings with the SEC or applicable regulatory authority. Market makers are not permitted to begin quotation of a security
whose issuer does not meet this filing requirement. If no market is ever developed for our common stock, it will be difficult for you
to sell any shares you purchase in this offering. In such a case, you may find that you are unable to achieve any benefit from your investment
or liquidate your shares without considerable delay, if at all.

 Our common stock may become
subject to the penny stock rules of the sec and the trading market in our securities is limited, which makes transactions
in our stock cumbersome and may reduce the value of an investment in our stock.

 Under U.S. federal securities
legislation, our common stock will constitute penny stock is if has a market price of less than $5.00 per share, subject to
certain exceptions. While the market price of our common stock is currently above $5.00, there can be no assurance that are price will
consistently remain above $5.00, given the lack of liquidity in our stock. For any transaction involving a penny stock, unless exempt,
the rules require that a broker or dealer approve a potential investor's account for transactions in penny stocks, and the broker or dealer
receive from the investor a written agreement to the transaction, setting forth the identity and quantity of the penny stock to be purchased.
In order to approve an investor's account for transactions in penny stocks, the broker or dealer must obtain financial information and
investment experience objectives of the person, and make a reasonable determination that the transactions in penny stocks are suitable
for that person and the person has sufficient knowledge and experience in financial matters to be capable of evaluating the risks of transactions
in penny stocks. The broker or dealer must also deliver, prior to any transaction in a penny stock, a disclosure schedule prepared by
the Commission relating to the penny stock market, which, in highlight form sets forth the basis on which the broker or dealer made the
suitability determination. Brokers may be less willing to execute transactions in securities subject to the penny stock rules.
This may make it more difficult for investors to dispose of our common stock and cause a decline in the market value of our stock. Disclosure
also has to be made about the risks of investing in penny stocks in both public offerings and in secondary trading and about the commissions
payable to both the broker-dealer and the registered representative, current quotations for the securities and the rights and remedies
available to an investor in cases of fraud in penny stock transactions. Finally, monthly statements have to be sent disclosing recent
price information for the penny stock held in the account and information on the limited market in penny stocks.

 FINRA sales practice
requirements may also limit a stockholder's ability to buy and sell our stock.

 In addition to the "penny
stock" rules described above, the Financial Industry Regulatory Authority ("FINRA") has adopted rules that require that
in recommending an investment to a customer, a broker-dealer must have reasonable grounds for believing that the investment is suitable
for that customer. Prior to recommending speculative low priced securities to their non-institutional customers, broker-dealers must make
reasonable efforts to obtain information about the customer's financial status, tax status, investment objectives and other information.
Under interpretations of these rules, FINRA believes that there is a high probability that speculative low priced securities will not
be suitable for at least some customers. The FINRA requirements make it more difficult for broker-dealers to recommend that their customers
buy our common stock, which may limit your ability to buy and sell our stock and have an adverse effect on the market for our shares.

 Certain restrictions
on the extent of puts may have little, if any, effect on the adverse impact of our issuance of shares in connection with the Investment
Agreement and the Equity Purchase Agreement, and as such, Strattner and Williamsburg, or the Selling Security Holders, may sell a large
number of shares, resulting in substantial dilution to the value of shares held by existing stockholders.

 Each Selling Security Holder
has agreed to refrain from holding an amount of shares which would result in Strattner and Williamsburg owning more than 9.99% and 4.99%,
respectively, of the then-outstanding shares of our common stock at any one time. These restrictions, however, do not prevent the Selling
Security Holders from selling shares of common stock received in connection with a put, and then receiving additional shares of common
stock in connection with a subsequent put. In this way, each Selling Security Holder could sell more than the foregoing limits in a relatively
short time frame while still maintaining compliance with the prescribed limitations.

 Because the Selling
Security Holders will be paying less than the then-prevailing market price for our common stock, your ownership interest may be diluted
and the value of our common stock may decline by exercising the put right pursuant to the Investment Agreement or the Equity Purchase
Agreement.

 The common stock to be issued
to the Selling Security Holders pursuant to the Investment Agreement or the Equity Purchase Agreement will be purchased at a price that
is a discount to market. Because the put price is lower than the prevailing market price of our common stock, to the extent that the put
right is exercised, your ownership interest may be diluted. The Selling Security Holders have a financial incentive to sell our common
stock immediately upon receiving the shares to realize the profit equal to the difference between the discounted price and the market
price. If the Selling Security Holders sell the shares, the price of our common stock could decrease. If our stock price decreases, the
Selling Security Holders may have a further incentive to sell the shares of our common stock that it holds. These sales may have a further
adverse impact on our stock price.

 The pricing structure
of the Investment Agreement and the Equity Purchase Agreement may result in dilution to our stockholders.

 Pursuant to the Investment
Agreement and the Equity Purchase Agreement, the Selling Stockholders committed to purchase, subject to certain conditions, up to an aggregate
of $35,000,000 of our common stock over a prescribed period. If we sell shares to the Selling Security Holders under the Investment Agreement
or the Equity Purchase Agreement, it will have a dilutive effect on the holdings of our current stockholders, and may result in downward
pressure on the price of our common stock. If we draw down amounts under the Investment Agreement or the Equity Purchase Agreement, we
will issue shares to the Selling Security Holders at a discount. If we draw down amounts under these agreements when our share price is
decreasing, we will need to issue more shares to raise the same amount than if our stock price was higher. Issuances in the face of a
declining share price will have an even greater dilutive effect than if our share price were stable or increasing, and may further decrease
our share price.

 We may not be able
to access sufficient funds pursuant to the terms of the Investment Agreement or the Equity Purchase Agreement.

 Our ability to purchase shares
of our common stock to the Selling Security Holders and obtain funds pursuant to the terms of the Investment Agreement and Equity Purchase
Agreement is limited, including restrictions on when we may exercise our put rights, restrictions on the amount we may put to the Selling
Security Holders at any one time, which is determined in part by the trading price of our common stock, and a limitation on the obligation
of the Selling Security Holders to purchase if such purchase would result in the Selling Security Holders beneficially owning more than
9.99% or 4.99%, as applicable, of our common stock. Accordingly, we may not be able to access sufficient funds when needed.

 Future issuances of
our common stock could dilute current stockholders or adversely affect the market.

 Our business plan contemplates
expanding our operations through acquisitions which may involve significant issuances of our common stock. Future issuances of our
common stock may be at values substantially below the price paid by the current holders of our common stock. In addition, common stock
could be issued to fend off unwanted tender offers or hostile takeovers without further stockholder approval. Sales of substantial amounts
of our common stock, or even just the prospect of such sales, could depress the prevailing price of our common stock and our ability to
raise equity capital in the future. Additionally, large share issuances would generally have a negative impact on our share price. It
is possible that, due to additional share issuance, you could lose a substantial amount, or all, of your investment. In addition, if a
trading market develops for our common stock, we may attempt to raise capital by selling shares of our common stock, possibly at a discount
to market. These actions will result in dilution of the ownership interests of existing shareholders, further dilute common stock book
value, and that dilution may be material.

 The market for penny
stocks has experienced numerous frauds and abuses that could adversely impact investors in our stock.

 Company management believes
that the market for penny stocks has suffered from patterns of fraud and abuse. Such patterns include:

 Control of the market for the security by one or a few broker-dealers that are often related to the promoter or issuer;

 Manipulation of prices through prearranged matching of purchases and sales and false and misleading press releases;

 Boiler room practices involving high pressure sales tactics and unrealistic price projections by sales persons;

 Excessive and undisclosed bid-ask differentials and markups by selling broker-dealers; and

 Wholesale dumping of the same securities by promoters and broker-dealers after prices have been manipulated to a desired level, along with the inevitable collapse of those prices with consequent investor losses.

 The market price of
our common stock may be volatile, and our stock price may fall below your purchase price at the time you desire to sell your shares of
our common stock, resulting in a loss on your investment.

 The market price of our common
stock may fluctuate substantially due to a variety of factors, many of which are beyond our control, including, without limitation:

 actual or anticipated variations in our quarterly and annual operating results, financial condition or asset quality;

 changes in general economic or business conditions, both domestically and internationally;

 the effects of, and changes in, trade, monetary and fiscal policies, including the interest rate policies of the Federal Reserve, or in laws and regulations affecting us;

 the number of securities analysts covering us;

 publication of research reports about us, our competitors, or the financial services industry generally, or changes in, or failure to meet, securities analysts' estimates of our financial and operating performance, or lack of research reports by industry analysts or ceasing of coverage;

 changes in market valuations or earnings of companies that investors deemed comparable to us;

 the average daily trading volume of our common stock;

 future issuances of our common stock or other securities;

 additions or departures of key personnel;

 perceptions in the marketplace regarding our competitors and/or us;

 significant acquisitions or business combinations, strategic partnerships, joint ventures or capital commitments by or involving our competitors or us; and

 other news, announcements or disclosures (whether by us or others) related to us, our competitors, our core market or the financial services industry.

 The stock market and, in
particular, the market for financial institution stocks have experienced significant fluctuations in recent years. In many cases, these
changes have been unrelated to the operating performance and prospects of particular companies. In addition, significant fluctuations
in the trading volume in our common stock may cause significant price variations to occur. Increased market volatility may materially
and adversely affect the market price of our common stock, which may make it difficult for you to resell your shares at the volume, prices
and times desired.

 Investing in our Company
is highly speculative and could result in the entire loss of your investment.

 An investment in our shares
is highly speculative and involves significant risk. Our shares should not be purchased by any person who cannot afford to lose their
entire investment. Our business objectives are also speculative, and it is possible that we would be unable to accomplish them. Our shareholders
may be unable to realize a substantial or any return on their purchase of the offered shares and may lose their entire investment. For
this reason, each prospective purchaser of the offered shares should read this prospectus and all of its exhibits carefully and consult
with their attorney, business and/or investment advisor.

 State securities laws
may limit secondary trading, which may restrict the states in which and conditions under which you can sell the shares offered by this
prospectus.

 Secondary trading in common
stock sold in this offering will not be possible in any state until the common stock is qualified for sale under the applicable securities
laws of the state or there is confirmation that an exemption, such as listing in certain recognized securities manuals, is available for
secondary trading in the state. If we fail to register or qualify, or to obtain or verify an exemption for the secondary trading of, the
common stock in any particular state, the common stock could not be offered or sold to, or purchased by, a resident of that state. In
the event that a significant number of states refuse to permit secondary trading in our common stock, the liquidity for the common stock
could be significantly impacted thus causing you to realize a loss on your investment.

 The Company does not intend
to seek registration or qualification of its shares of common stock the subject of this offering in any State or territory of the United
States. Aside from a secondary trading exemption, other exemptions under state law and the laws of US territories may be available
to purchasers of the shares of common stock sold in this offering,

 Anti-takeover effects
of certain provisions of Delaware state law hinder a potential takeover of our company.

 Though not now, in the future
we may become subject to Delaware's business combination law which prohibits certain business combinations between Delaware corporations
and interested stockholders for three years after the interested stockholder first becomes an interested
stockholder, unless the corporation's board of directors approves the combination in advance. For purposes of Delaware law, an interested
stockholder is any person who is the beneficial owner, directly or indirectly, of fifteen percent or more of the voting power of
the outstanding voting shares of the corporation. A corporation is subject to Delaware's business combination law if it has more
than 2000 stockholders or has its securities listed on a national securities exchange. The effect of Delaware's business combination
law is to potentially discourage parties interested in taking control of our company from doing so if it cannot obtain the approval of
our board of directors.

 Because we do not intend
to pay any cash dividends on our common stock, our stockholders will not be able to receive a return on their shares unless they sell
them.

 We intend to retain any future
earnings to finance the development and expansion of our business. We do not anticipate paying any cash dividends on our common stock
in the foreseeable future. Unless we pay dividends, our stockholders will not be able to receive a return on their shares unless they
sell them. Stockholders may never be able to sell shares when desired. Before you invest in our securities, you should be aware that there
are various risks. You should consider carefully these risk factors, together with all of the other information included in this annual
report before you decide to purchase our securities. If any of the following risks and uncertainties develop into actual events, our business,
financial condition or results of operations could be materially adversely affected.

 ITEM 1B. UNRESOLVED STAFF COMMENTS.

 We are a smaller reporting
company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

 ITEM 1C. CYBERSECURITY.

 None.

 ITEM 2. PROPERTIES.

 Our corporate office is located
at 35/F, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong. We are parties to an office rental agreement at a monthly rate of HK$2,500
(approximately $321), for a term of 12 months.

 We believe that our current
facilities are adequate for our current needs. We expect to secure new facilities or expand existing facilities as necessary to support
future growth. We believe that suitable additional space will be available on commercially reasonable terms as needed to accommodate our
operations.

 ITEM 3. LEGAL PROCEEDINGS.

 There are no material pending
legal proceedings to which we or our subsidiaries are a party or to which any of our or their property is subject, nor are there any such
proceedings known to be contemplated by governmental authorities. None of our directors, officers, affiliates or any owner of record or
beneficially of more than 5% of our common stock, or any associate of any of the foregoing, is involved in a proceeding adverse to our
business or has a material interest adverse to our business.

 ITEM 4. MINE SAFETY DISCLOSURES.

 Not applicable.

 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED
STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.

 (a) Market Information

 Shares of our common stock
are quoted on the OTC Pink under the symbol "LDSN". Shares of our common stock began trading on April 1, 2020. As of February
6, 2024, the last closing price of our securities was $0.60, with little to no quoting activity. There is no established public trading
market for our securities and a regular trading market may not develop, or if developed, may not be sustained.

 The following table sets
forth, for the fiscal quarters indicated, the high and low bid information for our common stock, as reported on the Pink Sheets. The following
quotations reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not represent actual transactions.

 Quarterly period

 High

 Low

 Fiscal year ended December 31, 2023:

 Fourth Quarter

 $

 0.597

 $

 0.1

 Third Quarter

 $

 0.401

 $

 0.163

 Second Quarter

 $

 0.775

 $

 0.35

 First Quarter

 $

 1.70

 $

 0.1614

 Fiscal year ended December 31, 2022:

 Fourth Quarter

 $

 0.32

 $

 0.11

 Third Quarter

 $

 1.00

 $

 0.11

 Second Quarter

 $

 1.15

 $

 0.95

 First Quarter

 $

 2.65

 $

 1.10

 (b) Approximate Number of Holders of Common Stock

 As of February 6, 2024, there
were approximately 276 shareholders of record of our common stock. Such number does not include any shareholders holding shares in nominee
or "street name".

 (c) Dividends

 Holders of our common stock
are entitled to receive such dividends as may be declared by our board of directors. On January 2, 2020, prior to the consummation of
the acquisition of LHCL, LHCL declared and paid dividends of $184,919 to the shareholders. Except as otherwise set forth above, we paid
no dividends during the periods reported herein, nor do we anticipate paying any dividends in the foreseeable future.

 (d) Equity Compensation Plan Information

 None.

 (e) Recent Sales of Unregistered Securities

 None.

 ITEM 6. RESERVED.

 ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS.

 This discussion summarizes
the significant factors affecting the operating results, financial condition, liquidity and cash flows of the Company and its subsidiary
for the fiscal years ended December 31, 2023, and 2022. The discussion and analysis that follows should be read together with the section
entitled "Cautionary Note Concerning Forward-Looking Statements" and our consolidated financial statements and the notes to
the consolidated financial statements included elsewhere in this annual report on Form 10-K.

 Except for historical
information, the matters discussed in this section are forward looking statements that involve risks and uncertainties and are based upon
judgments concerning various factors that are beyond the Company's control. Consequently, and because forward-looking statements
are inherently subject to risks and uncertainties, the actual results and outcomes may differ materially from the results and outcomes
discussed in the forward-looking statements. You are urged to carefully review and consider the various disclosures made by us in this
report.

 Currency and exchange
rate

 Unless otherwise noted,
all currency figures quoted as "U.S. dollars", "dollars" or "US$" refer to the legal currency of the
United States. References to "Hong Kong Dollar" are to the Hong Kong Dollar, the legal currency of the Hong Kong Special Administrative
Region of the People's Republic of China. Throughout this report, assets and liabilities of the Company's subsidiaries are
translated into U.S. dollars using the exchange rate on the balance sheet date. Revenue and expenses are translated at average rates prevailing
during the period. The gains and losses resulting from translation of financial statements of foreign subsidiaries are recorded as a separate
component of accumulated other comprehensive income within the statement of stockholders' equity.

 Impact of COVID-19 on our business

 The outbreak of COVID-19
that started in late January 2020 in the PRC has negatively affected our business. In March 2020, the World Health Organization declared
COVID-19 as a pandemic and has resulted in quarantines, travel restrictions, and the temporary closure of stores and business facilities
in China and the U.S. in the subsequent months. Given the rapidly expanding nature of the COVID-19 pandemic, and because substantially
all of the Company's business operations and its workforce are concentrated in China, the Company's business, results of operations,
and financial condition for calendar year 2020 have been adversely affected.

 Management believes that
COVID-19 could continue to have a material impact on its financial results for the first half of calendar year 2023 and could cause the
potential impairment of certain assets. To mitigate the overall financial impact of COVID-19 on the Company's business, management
has worked closely with its service centers to enhance their marketing and promotion activities to generate revenue.

 We believe that the Company
can generate sufficient cash flow over the next 12 months to implement the revised business plan. We believe that we will need approximately
$1.5 million to implement our revised business plan for the 12 months thereafter.

 Results of Operations

 We are not required to obtain permission
from the Chinese authorities to operate or to issue securities to foreign investors.

 Our audited consolidated
financial statements have been prepared on a going concern basis, which assumes that we will be able to continue to operate in the future
in the normal course of business. In our audited consolidated financial statements for the year ended December 31, 2023, it has included
a note about our ability to continue as a going concern due to consecutive quarterly losses from operations in 2022 as a result of COVID-19.
Business closures in Hong Kong and limitations on business operations arising from COVID-19 has significantly disrupted our ability to
generate revenues and cash flow during the fiscal year 2023.

 The success of our business
strategy is dependent in part upon the availability of additional capital resources on terms satisfactory to management as we are not
generating sufficient revenues from our business operations. Our sources of capital in the past have included advance from stockholders
and affiliates. There can be no assurance that we can raise such additional capital resources on satisfactory terms. We believe that our
current cash and other sources of liquidity discussed above are adequate to support operations for at least the next 12 months. We anticipate
continuing to rely on equity sales of our common shares and shareholder loans in order to continue to fund our business operations. Issuances
of additional shares will result in dilution to our existing shareholders. There is no assurance that we will achieve any additional sales
of our equity securities or arrange for debt or other financing to fund our plan of operations.

 Comparison of the years ended December 31,
2023 and December 31, 2022

 The following table sets forth certain operational
data for the years ended December 31, 2023 and 2022:

 2023

 2022

 Revenues, net

 $

 -

 $

 -

 Cost of revenue

 -

 -

 Gross profit

 -

 -

 Total operating expenses

 (285,568

)

 -

 Other (expenses) income

 (17,629

)

)

 Loss before Income Taxes

)

)

 Income tax expense

 –

 –

 Net loss

)

)

 Revenue. We generated
nil revenues for the years ended December 31, 2023 and 2022.

 Cost of Revenue. Cost
of revenue was nil for the year ended December 31, 2023 and 2022.

 Gross Profit. Gross
profit was nil for the years ended December 31, 2023 and 2022.

 Operating Expenses.
We incurred operating expenses of $285,568 and nil for the years ended December 31, 2023, and 2022, respectively. Operating expenses for
the year ended December 31, 2023, consisted of $205,026 of stock based compensation and $80,542 of general and administrative expenses.

 Income Tax Expense.
Our income tax expenses for the years ended December 31, 2023 and 2022 was $0 and $0, respectively.

 Net Loss. We incurred
a net loss of $303,197 and $14,037,866 for the years ended December 31, 2023 and 2022, respectively. The decrease in net loss is primarily
attributable to the one off listing expense incurred in 2022.

 Liquidity and Capital Resources

 As of December 31, 2023 and
2022, we had cash and cash equivalents of $175,002 and $12,056, respectively.

 We believe that our current
cash and other sources of liquidity discussed below are adequate to support general operations for at least the next 12 months. It is
expected to incur significantly greater expenses in the near future as we develop our product offerings or enter into strategic partnerships.
We also expect our general and administrative expenses to increase as we expand our finance and administrative staff, add infrastructure,
and incur additional costs related to being reporting act company, including directors' and officers' insurance and increased
professional fees. We believe that we will require approximately $1 to 2 million over the next 12-24 months to implement our business
plan. For the immediate future, we intend to finance our business expansion efforts through equity purchase by institutional banks, and
loans from existing shareholders or financial institutions.

 We have never paid dividends
on our Common Stock. Our present policy is to apply cash to investments in product development, acquisitions or expansion; consequently,
we do not expect to pay dividends on Common Stock in the foreseeable future.

 Going Concern Uncertainties

 Our continuation as a going
concern is dependent upon improving our profitability and the continuing financial support from our stockholders. Our sources of capital
in the past have included the sale of equity securities, which include common stock sold in private transactions and public offerings,
lease liability and short-term and long-term debts. In addition, with respect to the ongoing and evolving coronavirus (COVID-19) outbreak,
which was designated as a pandemic by the World Health Organization on March 11, 2020, the outbreak has caused substantial disruption
in international economies and global trades and if repercussions of the outbreak are prolonged, could have a significant adverse impact
on our business. Given the addition political and public health challenges, our ability to obtain external financing or financing from
existing shareholders to fund our working capital needs has been materially and adversely impacted, and there can be no assurance that
we will be able to raise such additional capital resources on satisfactory terms. We believe that our current cash and other sources of
liquidity discussed below are adequate to support general operations for at least the next 12 months.

 We require additional funding
to meet its ongoing obligations and to fund anticipated operating losses. Our auditor has expressed substantial doubt about our ability
to continue as a going concern. Our ability to continue as a going concern is dependent on raising capital to fund its initial business
plan and ultimately to attain profitable operations. These consolidated financial statements do not include any adjustments to reflect
the possible future effects on the recoverability and classification of assets and liabilities that may result in the Company not being
able to continue as a going concern.

 We expect to incur marketing
and professional and administrative expenses as well expenses associated with maintaining our filings with the Commission. We will require
additional funds during this time and will seek to raise the necessary additional capital. If we are unable to obtain additional financing,
we may be required to reduce the scope of our business development activities, which could harm our business plans, financial condition
and operating results. Additional funding may not be available on favorable terms, if at all. We intend to continue to fund its business
by way of equity or debt financing and advances from related parties. Any inability to raise capital as needed would have a material adverse
effect on our business, financial condition and results of operations.

 If we cannot raise additional
funds, we will have to cease business operations. As a result, our common stock investors might lose all of their investment.

 2023

 2022

 Net cash (used in) operating activities

 $
 (132,484
)

 $
 –

 Net cash used in investing activities

 –

 –

 Net cash used in financing activities

 295,430

 –

 Net Cash Provided by (Used in) Operating Activities.

31, 2023, net cash used in operating activities was $132,484, which consisted primarily of a net loss of $303,197, along with decrease
in inventory of $46,154 and decrease in other receivables and other current assets of $64,102 and offset by stock based compensation of
$205,026 and increase in accrued expenses of $75,943.

31, 2022, net cash provided by operating activities was $nil, which consisted of a net loss of $14,037,866, offset by an increase in accrued
expenses of $14,037,866.

 Net Cash Used In Investing Activities.

31, 2023, there is no net cash provided by investing activities.

31, 2022, there is no net cash provided by investing activities.

 Net Cash (Used In) Provided by Financing Activities.

31, 2023, net cash used in financing activities was $295,430, consisting primarily of proceeds from acquisition subsidiaries and offset
by repayment to borrowings.

31, 2022, there is no net cash used in financing activities.

 Off-Balance Sheet Arrangements

 We have not entered into
any financial guarantees or other commitments to guarantee the payment obligations of any third parties. In addition, we have not entered
into any derivative contracts that are indexed to our own shares and classified as shareholders' equity, or that are not reflected
in our financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an unconsolidated
entity that serves as credit, liquidity or market risk support to such entity. Moreover, we do not have any variable interest in an unconsolidated
entity that provides financing, liquidity, market risk or credit support to us or engages in leasing, hedging or research and development
services with us.

 Critical Accounting Policies and Estimates

 We prepare our financial
statements in conformity with accounting principles generally accepted by the United States of America ("U.S. GAAP"), which
require us to make judgments, estimates, and assumptions that affect our reported amount of assets, liabilities, revenue, costs and expenses,
and any related disclosures. Although there were no material changes made to the accounting estimates and assumptions in the past three
years, we continually evaluate these estimates and assumptions based on the most recently available information, our own historical experience
and various other assumptions that we believe to be reasonable under the circumstances. Since the use of estimates is an integral component
of the financial reporting process, actual results could differ from our expectations as a result of changes in our estimates.

 We believe that our accounting
policies involve a higher degree of judgment and complexity in their application and require us to make significant accounting estimates.
Accordingly, the policies we believe are the most critical to understanding and evaluating our consolidated financial condition and results
of operations are summarized in "Note 3 - Summary of Significant Accounting Policies" in the notes to our consolidated financial

 Recent Accounting Pronouncements

 See "Note 2 - Summary
of Significant Accounting Policies" in the notes to our consolidated financial statements for a discussion of recent accounting
pronouncements.

 Management does not believe
that any recently issued, but not yet effective, accounting standards could have a material effect on the accompanying CFS. As new accounting
pronouncements are issued, we will adopt those that are applicable under the circumstances.

 ITEM 7A. QUANTITATIVE AND QUALITATIVE
DISCLOSURES ABOUT MARKET RISK.

 We are a smaller reporting
company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

 ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

 The consolidated financial
statements and the Report of Independent Registered Certified Public Accounting Firm thereon are filed pursuant to this Item 8 and are
included in this report beginning on page F-1.

 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

 Page

 Report of Independent Registered Public Accounting Firm

 Consolidated Balance Sheets

 Consolidated Statements of Operations and Comprehensive (Loss) Income

 Consolidated Statements of Cash Flows

 Consolidated Statements of Changes in Shareholders' Equity

 Notes to Consolidated Financial Statements

– F-18

 F- 1

 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM

 F- 2

 CONSOLIDATED BALANCE SHEETS

 AS OF DECEMBER 31, 2023 and 2022

 As of December 31,

 2023

 2022

 ASSETS

 Current asset:

 Cash and cash equivalents

 $
 175,002

 $

 Investment in unlisted shares

 –

 –

 Account receivable

 –

 –

 Inventory, net

 46,154

 –

 Prepaid expenses and other current assets

 64,102

 –

 Total current assets

 285,258

 Non-current asset:

 Intelligential Property Rights

 6,000,000

 –

 Goodwill

 806,158

 –

 Total non-current assets

 6,806,158

 –

 TOTAL ASSETS

 $
 7,091,416

 $

 LIABILITIES AND SHAREHOLDERS' EQUITY

 Current liabilities:

 Accrued liabilities and other payables

 $
 143,722

 $
 78,179

 Current portion of long-term loan payables

 114,150

 –

 Total current liabilities

 257,872

 78,179

 Non-current liabilities

 Long-term loan payables

 987,438

 –

 Total non-current liabilities

 987,438

 –

 TOTAL LIABILITIES

 1,245,310

 78,179

 SHAREHOLDERS' EQUITY

 Common stock, $0.0001
 par value, 1,000,000,000
 shares authorized at December 31, 2023, 100,000,000 at December 31, 2022, 503,466,410
 and 348,210,000
 shares issued and outstanding at December 31, 2023 and 2022, respectively

 50,347

 34,821

 Additional paid-in capital

 20,138,264

 13,938,364

 Accumulated other comprehensive loss

 –

 –

 Accumulated deficit

 (14,342,505
)

 (14,039,308
)

 Shareholders' equity

 5,846,106

 (66,123
)

 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

 $
 7,091,416

 $

 See accompanying notes to consolidated financial

 F- 3

 CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE
(LOSS) INCOME

("US$"))

 2023

 2022

 Revenue, net

 $
 –

 $
 –

 Cost of revenue

 –

 –

 Gross profit

 –

 –

 Operating expenses:

 General and administrative expenses

 (285,568
)

 –

 Total operating expenses

 (285,568
)

 –

 Other (expenses) income:

 Interest income

 –

 Interest expense

 (17,706
)

 –

 Listing expense

 –

)

 Total other expenses

 (17,629
)

)

 LOSS BEFORE INCOME TAXES

)

)

 Income tax expense

 –

 –

 NET LOSS

)

)

 Other comprehensive loss:

 Foreign currency translation loss

 –

 (1,442
)

 COMPREHENSIVE LOSS

 $
)

 $
 (14,039,308
)

 Net loss per share:

 Basic and diluted

 $
 (0.00
)

 $
 (0.04
)

 Weighted average shares outstanding

 Basic and diluted

 416,663,107

 348,210,000

 See accompanying notes to consolidated financial

 F- 4

 CONSOLIDATED STATEMENTS OF CASH FLOWS

("US$"))

 2023

 2022

 Cash flows from operating activities:

 Net loss

 $
)

 $
)

 Adjustments to reconcile net income to net cash (used in) provided by operating activities

 Amortization of goodwill

 –

 –

 Stock based compensation

 205,026

 –

 Change in operating assets and liabilities:

 Decrease in inventory

 (46,154
)

 –

 Decrease in other receivables and other current assets

 (64,102
)

 –

 Increase in accounts payable

 –

 –

 Increase in accrued expenses

 75,943

 14,037,866

 Net cash (used in) operating activities

 (132,484
)

 –

 Cash flows from investing activities:

 Purchases of equipment

 –

 –

 Net cash used in investing activities

 –

 –

 Cash flows from financing activities:

 Repayment to related party

 –

 –

 Proceeds from related party payable

 –

 –

 Proceeds from borrowings

 –

 –

 Repayment to borrowings

 (3,008
)

 –

 Proceeds from acquisition subsidiaries

 298,438

 –

 Net cash provided by financing activities

 295,430

 –

 Effect on exchange rate change on cash and cash equivalents

 –

 (1,442
)

 Net increase of cash and cash equivalents

 162,946

 –

 BEGINNING OF YEAR

 13,498

 END OF YEAR

 $
 175,002

 $

 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

 Cash paid for tax

 $
 –

 $
 –

 Cash paid for interest

 $
 –

 $
 –

 Non-cash financing and investing activities:

 Debt converted to common stock

 $
 10,400

 $
 –

 Issuance of treasury stock for intelligential property rights

 $
 6,000,000

 $
 –

 See accompanying notes to consolidated financial

 F- 5

 CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS'
EQUITY

 Common stock

 Treasury stock

 Additional
 paid-in

 Retained

 Total shareholders'

 No. of shares

 Amount

 No. of

 Amount

 capital

 earnings

 equity

 Balance, December 31, 2022

 348,210,000

 $
 34,821

 –

 $
 –

 $
 13,938,364

 $
 (14,039,308
)

 $
 (66,123
)

 Net loss

 –

 –

 –

 –

 –

)

)

 Shares issued as debt conversion July 12, 2023

 34,820,000

 3,482

 –

 –

 –

 –

 3,482

 Shares issued as debt conversion July 13, 2023

 12,180,000

 1,218

 –

 –

 –

 –

 1,218

 Shares issued as debt conversion July 18, 2023

 50,256,410

 5,026

 –

 –

 –

 –

 5,026

 Shares issued as debt conversion July 31, 2023

 20,000,000

 2,000

 –

 –

 –

 –

 2,000

 Shares issued as debt conversion August 1, 2023

 35,000,000

 3,500

 –

 –

 –

 –

 3,500

 Transfer to treasury stock August 15, 2023

 (30,000,000
)

 (3,000
)

 30,000,000

 3,000

 –

 –

 –

 Shares issued as price $0.2 as stock compensation August 22, 2023

 1,000,000

 –

 –

 199,900

 –

 200,000

 Treasury stock was given for the purchase of 30 movie intelligent properties September 21, 2023

 30,000,000

 3,000

 (30,000,000
)

 (3,000
)

 6,000,000

 –

 6,000,000

 Shares issued as debt conversion November 16, 2023

 2,000,000

 –

 –

 –

 –

 Balance, December 31, 2023

 503,466,410

 $
 50,347

 –

 $
 –

 $
 20,138,264

 $
 (14,342,505
)

 $
 5,846,106

 See accompanying notes to consolidated financial

 F- 6

 1.

 DESCRIPTION OF BUSINESS AND ORGANIZATION

 Luduson G Inc. ("the Company" or "LDSN")
was organized under the laws of the State of Delaware on March 6, 2014 under the name Jovanovic-Steele, Inc. The Company's name
was changed to Baja Custom Designs, Inc. on November 30, 2017. The Company was established as part of the Chapter 11 Plan of Reorganization
of Pacific Shores Development, Inc. ("PSD"). The Company's name was further changed to Luduson G Inc. on July 15, 2020.

 On July 06, 2023, the Company completed the Reverse
Takeover of Glamourous Group Holding Limited ("GGHI"), a limited liability company incorporated in the United Kingdom of England
and Wales, by the issuance of 320,000,000 common shares to Ho Chi Wan, the sole shareholder of GGHI, on July 01, 2023. The issuance of
the shares was exempt from registration under the Securities Act of 1933 pursuant to Section 4(a)(2) thereof on the basis that the transaction
did not involve a public offering. The shares are subject to restrictions on resale pursuant to Commission Rule 144 under the Securities
Act.

 As of May 24, 2023, the Company disposed of the
investment in unlisted shares ("Unlisted Shares"), which are the subsidiaries that had been deconsolidated on May 12, 2023,
to Mr. Lan CHAN, a substantial shareholder of the Company at a consideration of $2,821. The Unlisted Shares were classified as a financial
asset at fair value through profit or loss at a carrying value of $2,821 as of the disposal date. There was no gain or loss arising from
the disposal.

 The Company issued an equivalent of 91.9% fully
diluted shares to the business owner of the Target, Ms Ho Chi Wan, in exchange for 100% of the Target and the whole operation. After such
a transaction, Ms Wan gained control of the Company and in effect completed a business combination of the Target with the Company, resulting
in a reverse acquisition (the "Reverse Acquisition"). Glamourous Group Holding Limited includes an experienced team with full
employment contracts, expertise, and customer and supplier list, but has immaterial tangible assets and liabilities. The estimated intangible
assets, comprising the above, are foreseen to create a big profit for the Company, with more than 1,000 Greater China influencers having
a very dominant track record in the Hong Kong movie industry. At the same time, the deconsolidated entities will be returned to the former
Director(s) (the "Spin-out").

 On 26 September, Glamourous Group Holding Limited
(UK) has been merged and replaced with a Hong Kong entity, Glamorous Holdings International Company Limited as part of group restructuring.
The Company have also roll in Glamourous Holdings Company Limited (HK) as part of the group restructuring.

 Description of subsidiaries

 Schedule of description of subsidiaries

 Name

 Place of incorporation

 and kind of

 legal entity

 Principal activities

 Particulars of registered/ paid up share capital

 Effective interest

 held

 Glamourous Holdings Company Limited (HK)

 Hong Kong

 Entertainment & Consultancy

 10,000 ordinary shares at par value of HKD1

 100%

 Glamourous Holdings International Company Limited

 Hong Kong

 Entertainment & Consultancy

 10,000 ordinary shares at par value of HKD1

 100%

 The Company and its subsidiaries are hereinafter
referred to as (the "Company").

 F- 7

 2.

 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 The accompanying consolidated financial statements
reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying consolidated
financial statements and notes.

 Basis of presentation

 These accompanying consolidated financial statements
have been prepared in accordance with generally accepted accounting principles in the United States of America ("US GAAP").

 Use of estimates and assumptions

 In preparing these consolidated financial statements,
management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues
and expenses during the years reported. Actual results may differ from these estimates.

 Basis of consolidation

 The consolidated financial statements include
the financial statements of the Company and its subsidiaries. All significant inter-company balances and transactions within the Company
have been eliminated upon consolidation.

 Cash and cash equivalents

 Cash and cash equivalents are carried at cost
and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an
original maturity of three months or less as of the purchase date of such investments.

 Accounts receivable

 Accounts receivable are recorded at the invoiced
amount and do not bear interest, which are due within contractual payment terms, generally 30 to 90 days from completion of service. Credit
is extended based on evaluation of a customer's financial condition, the customer credit-worthiness and their payment history. Accounts
receivable outstanding longer than the contractual payment terms are considered past due. Past due balances over 90 days and over a specified
amount are reviewed individually for collectibility. At the end of fiscal year, the Company specifically evaluates individual customer's
financial condition, credit history, and the current economic conditions to monitor the progress of the collection of accounts receivables.
The Company will consider the allowance for doubtful accounts for any estimated losses resulting from the inability of its customers to
make required payments. For the receivables that are past due or not being paid according to payment terms, the appropriate actions are
taken to exhaust all means of collection, including seeking legal resolution in a court of law. Account balances are charged off against
the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does
not have any off-balance-sheet credit exposure related to its customers. The allowance for doubtful accounts was $0 and $0 as of December
31, 2023 and 2022, respectively.

 Plant and equipment

 Plant and equipment are stated at cost less accumulated
depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected
useful lives from the date on which they become fully operational and after taking into account their estimated residual values:

 Schedule of estimated useful lives of assets

 Expected useful lives

 Leasehold improvement

 3 years

 Computer equipment

 3-5 years

 Furniture and equipment

 5 years

 Expenditures for repairs and maintenance are expensed
as incurred. When assets have been retired or sold, the cost and related accumulated depreciation are removed from the accounts and any
resulting gain or loss is recognized in the results of operations.

 F- 8

 Revenue recognition

 The Company recognizes revenue from its contracts
with customers in accordance with ASC 606 – Revenue from Contracts with Customers. The Company recognizes revenues when satisfying
the performance obligation of the associated contract that reflects the consideration expected to be received based on the terms of the
contract.

 Under ASC 606, a performance obligation is a promise
within a contract to transfer a distinct good or service, or a series of distinct goods and services, to a customer. Revenue is recognized
when performance obligations are satisfied and the customer obtains control of promised goods or services. The amount of revenue recognized
reflects the consideration to which the Company expects to be entitled to receive in exchange for goods or services. Under the standard,
a contract's transaction price is allocated to each distinct performance obligation. To determine revenue recognition for arrangements
that the Company determines are within the scope of ASC 606, the Company performs the following five steps:

 identify the contract with a customer;

 identify the performance obligations in the contract;

 determine the transaction price;

 allocate the transaction price to performance obligations in the contract; and

 recognize revenue as the performance obligation is satisfied.

 The transaction price for each contract is determined
based on the amount the Company expects to be entitled to receive in exchange for transferring the promised products or services to the
customer. Collectability of revenue is reasonably assured based on historical evidence of collectability of fees the Company charges its
customers. The transaction price in the contract is allocated to each distinct performance obligation in an amount that represents the
relative amount of consideration expected to be received in exchange for satisfying each performance obligation. Revenue is recognized
when performance obligations are satisfied. At contract inception, the Company determines whether it satisfies the performance obligation
over time or at a point in time.

 The Company currently does not derive any revenues.

 Cost of revenue

 Cost of revenue consists primarily of the fees
paid to contracted programmers and labor costs, which are directly attributable to the rendering of services.

 Income taxes

 The Company adopted the ASC 740 Income tax
provisions of paragraph 740-10-25-13, which addresses the determination of whether tax benefits claimed or expected to be claimed on a
tax return should be recorded in the consolidated financial statements. Under paragraph 740-10-25-13, the Company may recognize the tax
benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the
taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements
from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized
upon ultimate settlement. Paragraph 740-10-25-13 also provides guidance on de-recognition, classification, interest and penalties on income
taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for
unrecognized income tax benefits according to the provisions of paragraph 740-10-25-13.

 The estimated future tax effects of temporary
differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs
and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides
valuation allowances as management deems necessary.

 F- 9

 Uncertain tax positions

 The Company did not take any uncertain tax positions
and had no adjustments to its income tax liabilities or benefits pursuant to the ASC 740 provisions of Section 740-10-25 for the years
ended December 31, 2023 and 2022.

 Foreign currencies translation

 Transactions denominated in currencies other than
the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction.
Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency
using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the consolidated statement
of operations.

 The reporting currency of the Company is United
States Dollar ( US$) and the accompanying consolidated financial statements have been expressed in US$. In addition, the Company
is operating in Hong Kong and maintain its books and record in its local currency, Hong Kong Dollars ("HKD"), which is a functional
currency as being the primary currency of the economic environment in which their operations are conducted. In general, for consolidation
purposes, assets and liabilities of its subsidiary whose functional currency is not US$ are translated into US$, in accordance with ASC
Topic 830-30, " Translation of Financial Statement ", using the exchange rate on the balance sheet date. Revenues and
expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements
of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the statements of changes
in shareholders' equity.

 Translation of amounts from HKD into US$ has been
made at the following exchange rates for the years ended December 31, 2023 and 2022:

 Schedule of translation rates

 December
 31, 2023

 December
 31, 2022

 Year-end HKD:US$ exchange rate

 7.8105

 7.80776

 Annual average HKD:US$ exchange rate

 7.8290

 7.83025

 Comprehensive income

 ASC Topic 220, " Comprehensive Income ",
establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive income
as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive income, as presented
in the accompanying consolidated statements of changes in shareholders' equity, consists of changes in unrealized gains and losses
on foreign currency translation. This comprehensive income is not included in the computation of income tax expense or benefit.

 Retirement plan costs

 Contributions to retirement plans (which are defined
contribution plans) are charged to general and administrative expenses in the accompanying statements of operation as the related employee
service are provided.

 Share-based compensation

 The Company follows ASC 718, Compensation—Stock
Compensation ("ASC 718"), which requires the measurement and recognition of compensation expense for all share-based payment
awards, including restricted stock units, based on estimated grant date fair values. Restricted stock units are valued using the market
price of the Company's common shares on the date of grant. The Company records compensation expense, net of estimated forfeitures,
over the requisite service period.

 F- 10

 Debt issued with common stock

 Debt issued with common stock is accounted for
under the guidelines established by ASC 470-20 – Accounting for Debt With Conversion or Other Options. The Company recorded
the relative fair value of common stock and warrants related to the issuance of debt as a debt discount or premium. The discount or premium
is subsequently amortized to interest expense over the expected term of the debt.

 Leases

 The Company adopts the FASB Accounting Standards
Update ("ASU") 2016-02 "Leases (Topic 842)." for all periods presented. This standard requires lessees to
recognize lease assets ("right of use") and related lease obligations ("lease liabilities") on the balance sheet
for leases with terms in excess of 12 months.

 The Company determines if an arrangement is a
lease at inception. Operating leases are included in operating lease right-of-use ("ROU") assets and operating lease liabilities
in the consolidated balance sheets. Finance leases are included in finance lease ROU assets and finance lease liabilities in the consolidated
balance sheets.

 ROU assets represent the Company's right
to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising
from the lease. Operating lease and finance lease ROU assets and liabilities are recognized at commencement date based on the present
value of lease payments over the lease term discounted using the rate implicit in the lease. In cases where the implicit rate is not readily
determinable, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the
present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

 Related parties

 The Company follows the ASC 850-10, Related
Party for the identification of related parties and disclosure of related party transactions.

 Pursuant to section 850-10-20 the related
parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent
the election of the fair value option under the Fair Value Option Subsection of section 825–10–15, to be accounted for
by the equity method by the investing entity; c) trusts for the benefit of employees, such as pension and Income-sharing trusts that
are managed by or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other
parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of
the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g)
other parties that can significantly influence the management or operating policies of the transacting parties or that have an
ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the
transacting parties might be prevented from fully pursuing its own separate interests.

 The consolidated financial statements shall include
disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items
in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined
financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved;
b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods
for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions
on the financial statements; c) the dollar amounts of transactions for each of the periods for which income statements are presented
and the effects of any change in the method of establishing the terms from that used in the preceding period; and d) amount due from
or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.

 F- 11

 Commitments and contingencies

 The Company follows the ASC 450-20, Commitments
to report accounting for contingencies. Certain conditions may exist as of the date the financial statements are issued, which may result
in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such
contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal
proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the
perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected
to be sought therein.

 If the assessment of a contingency indicates that
it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would
be accrued in the Company's consolidated financial statements. If the assessment indicates that a potentially material loss contingency
is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an
estimate of the range of possible losses, if determinable and material, would be disclosed.

 Loss contingencies considered remote are generally
not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon
information available at this time that these matters will have a material adverse effect on the Company's financial position, results
of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company's
business, financial position, and results of operations or cash flows.

 Fair value of financial instruments

 The Company follows paragraph 825-10-50-10 of
the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37
of the FASB Accounting Standards Codification ("Paragraph 820-10-35-37") to measure the fair value of its financial instruments.
Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted
accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair
value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value
hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value
hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest
priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting
Standards Codification are described below:

 Level 1

 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.

 Level 2

 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

 Level 3

 Pricing inputs that are generally observable inputs and not corroborated by market data.

 Financial assets are considered Level 3 when their
fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant
model assumption or input is unobservable.

 The fair value hierarchy gives the highest priority
to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If
the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is
based on the lowest level input that is significant to the fair value measurement of the instrument.

 The carrying amounts of the Company's financial
assets and liabilities, such as cash and cash equivalents, accounts receivable, deposits, prepayment and other receivables, amount due
from a director and operating lease right-of-use assets, approximate their fair values because of the short maturity of these instruments.

 F- 12

 Recent accounting pronouncements

 Management does not believe that any recently
issued, but not yet effective, accounting standards could have a material effect on the accompanying CFS. As new accounting pronouncements
are issued, we will adopt those that are applicable under the circumstances.

 3.

 COVID-19 RELATED RISKS AND UNCERTAINTIES

 Since the beginning of 2020, COVID-19 has become
a global pandemic. As a result of the measures implemented by governments around the world, the business operations have been directly
affected. In order to mitigate the risk from COVID-19, the Company took expedited measures to reduce operating expenses and preserve cash,
including headcount reduction, freezing hiring and voluntary salary reductions from the senior leadership.

 Due to the speed and fluidity with which the COVID-19
pandemic continues to evolve, and the emergence of highly contagious variants, the Company has experienced by a certain extent of the
impact of COVID-19 on its business operations. The ultimate extent of the impact of any epidemic, pandemic, outbreak, or other public
health crisis on the business, financial condition and results of operations will depend on future developments, which are highly uncertain
and cannot be predicted, including new information that may emerge concerning the severity of such epidemic, pandemic, outbreak, or other
public health crisis and actions taken to contain or prevent the further spread, including the effectiveness of vaccination and booster
vaccination campaigns, among others. Accordingly, the Company cannot predict the extent to which our business, financial condition and
results of operations will be affected.

 4.

 GOING CONCERN UNCERTAINTIES

 The Company's consolidated financial statements
as of December 31, 2023 been prepared using generally accepted accounting principles in the United States of America applicable to a going
concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has
incurred a net loss of $303,197 for the current year. In addition, with respect to the ongoing and evolving coronavirus (COVID-19) outbreak,
which was designated as a pandemic by the World Health Organization on March 11, 2020, the outbreak has caused substantial disruption
in international and U.S. economies and markets and if repercussions of the outbreak are prolonged, could have a significant adverse impact
on the Company's business.

 In order to continue as a going concern, the Company
will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining
capital and the continued financial support from management and significant shareholders sufficient to meet its minimal operating expenses
and seeking third party equity and/or debt financing. Management believes the Company is currently pursuing additional financing for its
operations. However, there is no assurance that the Company will be successful in securing sufficient funds to sustain the operations.

 These and other factors raise substantial doubt
about the Company's ability to continue as a going concern. These consolidated financial statements do not include any adjustments
to reflect the possible future effects on the recoverability and classification of assets and liabilities that may result in the Company
not being able to continue as a going concern.

 5.

 BUSINESS SEGMENT

 The Company considers its business activities
to constitute no reportable segments. The Company's revenues for the years ended December 31, 2023 and 2022 are nil 0.

 6.

 ACCOUNTS AND RETENTION RECEIVABLE

 For the years ended December 31, 2023 and 2022,
the Company's account receivable are nil 0.

 F- 13

 7.

 PLANT AND EQUIPMENT

 The Company has no plant and equipment for the
years ended December 31, 2023 and 2022.

 8.

 DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES

 The Company has no deposits, prepayments and other
receivables for the years ended December 31, 2023 and 2022.

 9.

 INTELLIGENTIAL PROPERTY RIGHTS

 The Company, on July 21, 2023, entered into an
Agreement for Purchase of Commercial Movie Projects with Man Fai CHENG to purchase 20 commercial movie projects for a price of $4,000,000
payable by 20,000,000 shares of the Company's freely tradable common stock calculated with the quoted market price on OTC Markets
of $0.20 per share as of the date of the agreement. The Company, on July 21, 2023, entered separately into an Agreement for Purchase of
Animation Movie Projects with Woon Chun KWOK to purchase 5 animation movie projects for a price of $2,000,000 payable by 10,000,000 shares
of the Company's freely tradable common stock calculated with the quoted market price on OTC Markets of $0.20 per share as of the
date of the agreement. The Management, according to ASC Topic 820, Fair Value Measurements and Disclosures, uses Level 3 inputs such as
observable Hong Kong entertainment industry market for its valuation methodology of the movie projects. Collectively, the total $6,000,000
value of the movie projects is recognized as Intelligential Property Rights on the Company's balance sheet.

 10.

 AMOUNT DUE FROM (TO) A RELATED PARTY

 As of December 31, 2023, the Company do not have
any amount due from (to) a related party.

 11.

 SHAREHOLDERS' EQUITY

 Authorized shares

 As of December 31, 2023, the authorized share
capital of the Company consisted of 1,000,000,000 shares of common stock with $0.0001 par value (December 31, 2022: 100,000,000 shares
of common stock), and 20,000,000 shares of preferred stock also with $0.0001 par value (December 31, 2022: 20,000,000 shares of preferred
stock). No other classes of stock are authorized.

 The Company's first issuance of common stock,
totaling 580,000 shares, took place on March 6, 2014 pursuant to the Chapter 11 Plan of Reorganization confirmed by the U.S. Bankruptcy
Court in the matter of Pacific Shores Development, Inc. ("PSD"). The Court ordered the distribution of shares in the Company
to all general unsecured creditors of PSD, with these creditors to receive their Pro Rata share (according to amount of debt held) of
a pool of 80,000 shares in the Company. The Court also ordered the distribution of shares in the Company to all administrative creditors
of PSD, with these creditors to receive one share of common stock in the Company for each $0.10 of PSD's administrative debt which they
held. A total of 500,000 shares were issued to PSD's administrative creditors.

 The Court has also ordered the distribution of
2,500,000 warrants in the Company to all administrative creditors of PSD, with these creditors to receive five warrants in the Company
for each $0.10 of PSD's administrative debt which they held. These creditors received 2,500,000 warrants consisting of 500,000 "A
Warrants" each convertible into one share of common stock at an exercise price of $4.00; 500,000 "B Warrants" each convertible
into one share of common stock at an exercise price of $5.00; 500,000 "C Warrants" each convertible into one share of common
stock at an exercise price of $6.00; 500,000 D Warrants each convertible into one share of common stock at an exercise price
of $7.00; and 500,000 "E Warrants" each convertible into one share of common stock at an exercise price of $8.00. All warrants
are exercisable at any time prior to August 30, 2025. As of the date of this report, no warrants have been exercised.

 On May 22, 2020, the Company consummated the acquisition
of LHCL and agreed to issue to the shareholders of LHCL Ten Million (10,000,000) shares of its common stock, at a value of $0.10 per share,
for an aggregate value of $1,000,000.

 As of December 31, 2023 and 2022, the Company
has a total of 2,500,000 shares of warrants.

 F- 14

 Issued and outstanding shares

 On January 2, 2020, the Company declared and paid
a dividend of $184,919 to its shareholders.

 On May 8, 2020, the Company executed a Share Exchange
Agreement ("the "Share Exchange Agreement") with Luduson Holding Company Limited, a limited company organized under
the laws of the British Virgin Islands ("LHCL"), and the shareholders of LHCL. Pursuant to the Share Exchange Agreement, the
Company agreed to purchase Ten Thousand (10,000) ordinary shares representing 100% of the issued and outstanding ordinary shares of the
LHCL (the "LHCL Shares"). As consideration, the Company agreed to issue to the shareholders of LHCL Ten Million (10,000,000)
shares of its common stock, at a value of US$0.10 per share, for an aggregate value of US$1,000,000. The Company consummated the acquisition
of LHCL on May 22, 2020.

 On May 8, 2020, the Company and its shareholders
executed a Share Exchange Agreement ("the "Share Exchange Agreement") with Baji Custom Design Inc., a limited company
organized under the laws of the State of Delaware ("BJCD"). Pursuant to the Share Exchange Agreement, the Company agreed to
sell its aggregate of 10,000 ordinary shares representing 100% of the issued and outstanding ordinary shares of the Company. As consideration,
the Company's Shareholders were received 10,000,000 shares of BJCD's common stock, at a value of $0.10 per share, for an aggregate
value of $1,000,000 (the "Shares"). The parties are entitled to terminate the Share Exchange Agreement if closing has not
occurred on or prior to August 1, 2020. The consummation of the transactions contemplated in the Share Exchange Agreement is subject to
normal and customary conditions precedent including, without limitation, satisfactory due diligence of the Company by BJCD.

 On September 9, 2020, the Company issued 2,500,000
shares of its common stock to five individuals of consultants and service providers for the IT programming and marketing services rendered
to the Company, at the fair value of $0.13 per shares, totally $325,000.

 In September 2021, the Company issued 100,000
restricted shares of its common stock to Williamsburg as Initial Commitment Shares which is treated as debt discount and it will be amortized
to interest expense over the expected term of the debt.

 On May 30, 2023, the Company approved an issuance
of 47,000,000 common shares to Siu Chung Cheung and recipients ("CHEUNG el.") in regard to an outstanding debt of $4,700.
The shares were issued on July 12 and 13, 2023, respectively.

 On July 06, 2023, the Company completed the Reverse
Takeover of Glamourous Group Holding Limited ("GGHI"), a limited liability company incorporated in the United Kingdom of England
and Wales, by the issuance of 320,000,000 common shares to Ho Chi Wan, the sole shareholder of GGHI, on July 01, 2023. The issuance of
the shares was exempt from registration under the Securities Act of 1933 pursuant to Section 4(a)(2) thereof on the basis that the transaction
did not involve a public offering. The shares are subject to restrictions on resale pursuant to Commission Rule 144 under the Securities
Act.

 As of December 31, 2023, the Company has a total
of 503,466,410 shares of its common stock issued and outstanding (December 31, 2022: 348,210,000 common shares issued and outstanding).

 According to RTO accounting, the financial statement
presentation has been presented as if the merger had taken place on January 1, 2022. Therefore, the fully diluted shares as of December
31, 2022 is presented as 348,210,000 shares.

 F- 15

 12.

 INCOME TAX

 The provision for income taxes as shown in the
accompanying consolidated statements of operations consists of the following:

 Schedule of consolidated statements of operations

 2023

 2022

 Current:

 Domestic

 $
 –

 $
 –

 Foreign

 –

 –

 Deferred:

 Domestic

 –

 –

 Foreign

 –

 –

 Provision for income taxes

 $
 –

 $
 –

 The effective tax rate in the years presented
is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rate. The Company operates
in various countries: United States of America, Malaysia, Hong Kong, and other parts of Asia, that are subject to taxes in the jurisdictions
in which they operate, as follows:

 United States of America

 LDSN is registered in the State of Delaware and
is subject to US federal corporate income tax. The U.S. Tax Cuts and Jobs Act (the "Tax Reform Act") was signed into law.
The Tax Reform Act significantly revised the U.S. corporate income tax regime by, among other things, lowering the U.S. corporate tax
rate from 35% to 21% effective January 1, 2018. The Company's policy is to recognize accrued interest and penalties related to unrecognized
tax benefits in its income tax provision. The Company has not accrued or paid interest or penalties which were not material to its results
of operations for the periods presented. Deferred tax asset is not provided for as the tax losses may not be able to carry forward after
a change in substantial ownership of the Company in May 2020.

 As of December 31, 2023, the operations in the
United States of America incurred nil cumulative net operating income which can be carried forward to offset future taxable income. Any
net operating loss carry forwards begin to expire in 2038, if unutilized.

 ASC 740, Accounting for Income Taxes, which
requires an assessment of both positive and negative evidence when determining whether it is more likely than not that deferred tax assets
are recoverable. Such assessment is required on a jurisdiction by jurisdiction basis. The Company's history of cumulative losses,
along with expected future U.S. losses required that a full valuation allowance be recorded against all net deferred tax assets. The Company
intends to maintain a full valuation allowance on net deferred tax assets until sufficient positive evidence exists to support reversal
of the valuation allowance.

 BVI

 Under the current BVI law, the Company is not
subject to tax on income.

 F- 16

 Malaysia

 The income tax provision in respect of operations
in Malaysia is calculated at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations,
and practices. The principal legislation that governs a person's income tax in Malaysia is the Income Tax Act 1967 (the "ITA").
The regulatory body implementing and enforcing the ITA is the Inland Revenue Board of Malaysia. Pursuant to Section 3 of the ITA, income
tax shall be charged for each year of assessment upon the income of any person accruing in or derived from Malaysia or received in Malaysia
from outside Malaysia.

 Under the ITA, enterprises incorporated in Malaysia
are usually subject to a unified 24% enterprise income tax rate while preferential tax rates, tax holidays, and tax exemptions may be
granted on a case-by-case basis. The tax rate for small and medium sized companies (generally companies incorporated in Malaysia with
paid-in capital of MYR2,500,000 or less, and gross income of not more than MYR50 million) is 17% for the first MYR600,000 (or approximately
$150,000), with the remaining balance being taxed at the 24% rate.

 As of December 31, 2023, the operations in
the Malaysia incurred nil
0 cumulative net operating income which can be carried forward to offset future taxable income. Any net operating loss
carry forwards begin to expire in 2038, if unutilized.

 13.

 NET LOSS PER SHARE

 Basic net loss per share is computed using the
weighted average number of common shares outstanding during the year. The dilutive effect of potential common shares outstanding is included
in diluted net loss per share. The following table sets forth the computation of basic and diluted net loss per share for the years ended
December 31, 2023 and 2022:

 Schedule of computation of net income per share

 2023

 2022

 Net loss attributable to common shareholders

 $
)

 $
 (14,039,308
)

 Weighted average common shares outstanding – Basic and diluted

 416,663,107

 348,210,000

 Net loss per share – Basic and diluted

 $
 (0.00
)

 $
 (0.04
)

 14.

 PENSION COSTS

 The Company is required to make contribution under
a defined contribution pension scheme for all of its eligible employees in Hong Kong. The Company is required to contribute a specified
percentage of the participants' relevant income based on their ages and wages level. The total contributions made were $0 and $0 for the
years ended December 31, 2023 and 2022, respectively.

 15.

 RELATED PARTY TRANSACTIONS

 The Company, after the RTO with Glamourous Group
Holding Limited (UK), merged and replaced Glamourous Group Holding Limited (UK) with two Hong Kong entities, Glamourous Holdings International
Company Limited and Glamourous Holdings Company Limited (HK) (the "Wholly-owned Subsidiaries"), from Ho Chi WAN, the Company's
majority shareholder, Non-Executive Chairman and Director at a nominal value of $1.00 to execute the Company's main operations in Hong
Kong. Both Wholly-owned Subsidiaries were of stockholder deficit when acquired by the Company. The excess of the amount paid by the Company
for the acquisition of both over the net liabilities is recognized as goodwill. The Company's Management determines that the Wholly-owned
Subsidiaries are operational and are significant for the Company to carry out its operations that are mainly based in Hong Kong. Therefore,
no impairment for the goodwill recognized from the abovementioned acquisition.

 F- 17

 16.

 CONCENTRATIONS OF RISK

 The Company is exposed to the following concentrations of risk:

 (a)

 Economic and political risk

 The Company's major operations are conducted
in Hong Kong. Accordingly, the political, economic, and legal environments in Hong Kong, as well as the general state of Hong Kong's
economy may influence the Company's business, financial condition, and results of operations.

 (b)

 Exchange rate risk

 The Company cannot guarantee that the current
exchange rate will remain steady; therefore there is a possibility that the Company could post the same amount of profit for two comparable
periods and because of the fluctuating exchange rate actually post higher or lower profit depending on exchange rate of HKD converted
to US$ on that date. The exchange rate could fluctuate depending on changes in political and economic environments without notice.

 17.

 COMMITMENTS AND CONTINGENCIES

 As of December 31, 2023, the Company has no material
commitments or contingencies.

 On August 20, 2021, the Company entered into an
Equity Purchase Agreement with Williamsburg Venture Holdings, LLC, a Nevada limited liability company ("Investor"), pursuant
to which the Investor agreed to invest up to Thirty Million Dollars ($30,000,000) over a 36-month period in accordance with the terms
and conditions of that certain Equity Purchase Agreement, dated as of August 20, 2021, by and between the Company and the Investor (the
"Equity Purchase Agreement"). During the term, the Company shall be entitled to put to the Investor, and the Investor shall
be obligated to purchase, such number of shares of the Company's common stock and at such price as are determined in accordance
with the Equity Purchase Agreement. The per share purchase price for the Williamsburg Put Shares will be equal to 88% the lowest traded
price of the Common Stock on the principal market during the five (5) consecutive trading days immediately preceding the date which Williamsburg
received the Williamsburg Put Shares as DWAC Shares in its brokerage account (as reported by Bloomberg Finance L.P., Quotestream, or other
reputable source). In connection with the Equity Purchase Agreement, the parties also entered into a Registration Rights Agreement (the
"Registration Rights Agreement") pursuant to which the Company agreed to register with the SEC the common stock issuable under
the Equity Purchase Agreement, among other securities. The Company agreed to use its best efforts to file such registration statement
with the SEC by November 30, 2021 and Form S-1 became effective on June 29, 2022.

 18.

 SUBSEQUENT EVENTS

 In accordance with ASC Topic 855, " Subsequent
Events ", which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date
but before consolidated financial statements are issued, the Company has evaluated all events or transactions that occurred after December
31, 2023, up through the date the Company issued the audited consolidated financial statements. The Company determined that there are
no further events to disclose.

 F- 18

 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
AND FINANCIAL DISCLOSURE.

 None.

 ITEM 9A. CONTROLS AND PROCEDURES.

 Evaluation of Disclosure
Controls and Procedures

 Our management is responsible
for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act)
that is designed to ensure that information required to be disclosed by the Company in the reports that we file or submit under the Exchange
Act is recorded, processed, summarized and reported, within the time specified in the Commission's rules and forms. Disclosure controls
and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an
issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer's management, including
its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate
to allow timely decisions regarding required disclosure.

 As required by Rule 13a-15
under the Securities Exchange Act of 1934, as of the end of the period covered by this report, we have carried out an evaluation of the
effectiveness of the design and operation of our company's disclosure controls and procedures. Under the direction of our Chief
Executive Officer and our Chief Financial Officer, we evaluated our disclosure controls and procedures and internal control over financial
reporting and concluded that (i) there continue to be material weaknesses in the Company's internal controls over financial reporting,
that the weaknesses constitute a "deficiency" and that this deficiency could result in misstatements of the foregoing accounts
and disclosures that could result in a material misstatement to the financial statements for the period covered by this report that would
not be detected, and (ii) accordingly, our disclosure controls and procedures were effective as of December 31, 2023.

 However, it should be noted
that the design of any system of controls is based in part upon certain assumptions about the likelihood of future events, and there can
be no assurance that any design will succeed in achieving its stated goals under all potential future conditions, regardless of how remote.

 Management's Annual Report
On Internal Control Over Financial Reporting

 Our management is responsible
for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under
the Securities Exchange Act. Our management is also required to assess and report on the effectiveness of our internal control over financial
reporting in accordance with Section 404 of the Sarbanes-Oxley Act of 2002 ("Section 404"). Management assessed the effectiveness
of our internal control over financial reporting as of December 31, 2023. In making this assessment, we used the criteria set forth by
the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control – Integrated Framework. During our
assessment of the effectiveness of internal control over financial reporting as of December 31, 2023, management identified significant
deficiencies related to (i) the U.S. GAAP expertise of our internal accounting staff and chief financial officer, (ii) our internal audit
functions and (iii) a lack of segregation of duties within accounting functions. Although management believes that these deficiencies
do not amount to a material weakness, our internal controls over financial reporting were not effective at December 31, 2023.

 A material weakness is a
deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility
that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis. A significant
deficiency is a deficiency, or a combination of deficiencies, in internal control over financial reporting that is less severe than a
material weakness, yet important enough to merit attention by those responsible for oversight of the Company's financial reporting.

 In light of these material
weaknesses, we performed additional analyses and procedures in order to conclude that our consolidated financial statements for the year
ended December 31, 2023 included in this Annual Report on Form 10-K were fairly stated in accordance with the U.S. GAAP. Accordingly,
management believes that despite our material weaknesses, our consolidated financial statements for the year ended December 31, 2023 are
fairly stated, in all material respects, in accordance with the U.S. GAAP.

 This Annual Report does not
include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management's
report was not subject to attestation by our registered public accounting firm pursuant to rules of the Securities and Exchange Commission
that permit the Company to provide only management's report.

 Changes in Internal Control over Financial
Reporting

 There were no changes in
the Company's internal control over financial reporting that occurred during the last fiscal quarter that have materially affected,
or is reasonably likely to materially affect, the Company's internal control over financial reporting.

 ITEM 9B. OTHER INFORMATION.

 During the quarter ended December 31, 2023, no director or officer
of the Company adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement,"
as each term is defined in Item 408(a) of Regulation S-K.

 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT
INSPECTIONS.

 None.

 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.

 Set forth below are the present
directors and executive officers of the Company. Note that there are no other persons who have been nominated or chosen to become directors
nor are there any other persons who have been chosen to become executive officers. There are no arrangements or understandings between
any of the directors, officers and other persons pursuant to which such person was selected as a director or an officer. Directors are
elected to serve until the next annual meeting of stockholders and until their successors have been elected and have qualified. Officers
are appointed to serve until the meeting of the board of directors following the next annual meeting of stockholders and until their successors
have been elected and qualified.

 Name

 Age

 Positions

 Man Fai CHENG

 Chief Executive Officer, Director

 Eng Wah KUNG

 Chief Financial Officer, Secretary, Director

 Lap Yan CHEUNG

 Chief Operating Officer, Director

 Ho Chi WAN

 Non-Executive Chairman, Director

 Biographies

 Set forth below are brief
accounts of the business experience during the past five years of each director, executive officer and significant employee of the Company.

 Man Fai CHENG,
age 56, joined us as our Chief Executive Officer and Director on May 25, 2023. He holds a Bachelor of Social Science degree from
the University of Hong Kong. Mr. Fai is a film director, screenwriter and actor. He entered the Hong Kong film industry in 1995 as a scriptwriter
and assistant director in the film "Ten Brothers". After that, he was involved as a scriptwriter, assistant director and actor
in several Stephen Chow movies, including "The King of Comedy", "The Lucky Guys" and "The God of Cookery".
In 2020, he started to become a film director. His directed movies include "Dragon Battle", "Swimsuit Queen" and
"People Eater", which will be released in 2023 and 2024.

 Eng Wah KUNG,
age 62, joined us as our Chief Financial Officer, Secretary and Director on May 25, 2023. He holds a First Class Diploma in Hotel
Management from Les Roches, Switzerland. He was the General Manager with Hic Inn, Cambodia prior to joining the Company. Mr. Kung has
been a general manager for several Southeast Asian hotel operations companies since year 2003, including Nha Trang Lodge, Vietnam and
NCL Cambodia Pte Ltd. He has over 33 years in the senior general management position in the Meetings/Incentives/Convention/Exhibition
industry. He is responsible for over-seeing the future MICE operations of the Company using his extensive skills, knowledge and experience.
In fact, Mr. Kung has established good working relationships with the central governments and local authorities of Cambodia, Vietnam and
Malaysia.

 Lap Yan CHEUNG,
age 55, joined us as our Chief Operating Officer and Director on May 25, 2023. Mr. Cheunghas over 32 years of experience in the game industry.
In addition to the development of video and PC games, he is also experienced in the marketing, promotion and monetization of mobile and
social games. He was the pixel character designer of the world-famous Tamagotchi. He collaborated with Japanese game publisher CAPCOM
and mobile phone designer Nokia to release "Street Fighter WAP" game. In 2014, he continued to expand the value of game markets,
as he took the mission of promoting e-sports in Southeast Asia as the Vice President of Asia-Pacific E-Sports Association on December
1, 2016.

 Ho Chi WAN,
aged 44, joined us as our Non-Executive Chairman and Director on May 25, 2023. Ms. Wan has about 20 years of experience in the entertainment
industry. She built herself a strong connection with Hong Kong and Mainland artists, media companies, iconic movie directors and scriptwriters
of the Hong Kong movie Golden Era, to the latest high-on-demand Mainland short movies, variety shows to beauty pageant organizers. Ms.
Wan was awarded numerous distributorships in the past, including a few of the popular Chinese platforms, such as Bigolive - a live streaming
platform and social networking app that allows users to broadcast and view live videos, similar to Tiktok, popular among youngsters of
the Chinese community. All her connections and renewable distributorships will be put in the Group upcoming.

 Family Relationships.

 There are no family relationships between any
of our directors or executive officers.

 Involvement in Certain Legal Proceedings

 No executive officer or director
has been involved in the last ten years in any of the following:

 Any bankruptcy petition filed by or against any business or property of such person, or of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time;

 Any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);

 Being subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities;

 Being found by a court of competent jurisdiction (in a civil action), the SEC or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;

 Being the subject of or a party to any judicial or administrative order, judgment, decree or finding, not subsequently reversed, suspended or vacated relating to an alleged violation of any federal or state securities or commodities law or regulation, or any law or regulation respecting financial institutions or insurance companies, including but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order, or any law or regulation prohibiting mail, fraud, wire fraud or fraud in connection with any business entity; or

 Being the subject of or a party to any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act, any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

 Board Committees and Audit Committee Financial Expert

 We do not currently have
a standing audit, nominating or compensation committee of the board of directors, or any committee performing similar functions. Our board
of directors performs the functions of audit, nominating and compensation committees. As of the date of this report, no member of our
board of directors qualifies as an "audit committee financial expert" as defined in Item 407(d)(5) of Regulation S-K promulgated
under the Securities Act. We hope to attract a director who qualifies as an "audit committee financial expert" as our business
operations mature.

 Our board of directors does
not have a policy with regards to the consideration of any director candidates recommended by our shareholders. Our board of directors
has determined that it is in the best position to evaluate our company's requirements as well as the qualifications of each candidate
when the board considers a nominee for a position on our board of directors.

 There have not been any
material changes to the procedures by which security holders may recommend nominees to the registrant's board of directors since
December 31, 2023.

 Code of Ethics

 We have not yet adopted a
code of ethics that applies to our principal executive officer, principal financial officer principal accounting officer or controller
in light of our Company's current stage of development. We expect to adopt a code of ethics in the near future.

 ITEM 11. EXECUTIVE COMPENSATION.

 Compensation Philosophy and Objectives

 Currently, our executive
directors and officers do not receive compensation for services provided in such capacities. We anticipate providing cash compensation
for services in the future to our executive officers and directors. We expect to establish an incentive compensation plan as our
company matures. We expect that our executive compensation philosophy will be to create a long-term direct relationship between pay and
our performance. Our executive compensation program will be designed to provide a balanced total compensation package over the executive's
career with us. The compensation program objectives will be to attract, motivate and retain the qualified executives that help ensure
our future success, to provide incentives for increasing our profits by awarding executives when corporate goals are achieved and to align
the interests of executives and long-term stockholders. We expect the compensation package of our named executive officers to consist
of the following main elements:

 1.

 base salary for our executives that is competitive relative to the market, and that reflects individual performance, retention and other relevant considerations;

 2.

 incentive compensation consisting of stock options, restricted stock and the like; and

 3.

 discretionary bonus awards payable in cash and or securities of the Company tied to the satisfaction of corporate objectives.

 Process for Setting Executive Compensation

 As we do not have Compensation
Committee, our Board will be responsible for developing and overseeing the implementation of our philosophy with respect to the compensation
of executives and for monitoring the implementation and results of the compensation philosophy to ensure compensation remains competitive,
creates proper incentives to enhance stockholder value and rewards superior performance. The Board will annually review and approve for
each named executive officer, and particularly with regard to the Chief Executive Officer, all components of the executive's compensation.
The Board may award discretionary bonuses to each of the named executives, and reviews and approves the process and factors (including
individual and corporate performance measures and actual performance versus such measures) used by the Chief Executive Officer to recommend
such awards. Additionally, the Board will review and approve the base salary, equity-incentive awards (if any) and any other special or
supplemental benefits of the named executive officers.

 We expect our Chief Executive
Officer to periodically provide the Board with an evaluation of each named executive officer's performance, based on the individual
performance goals and objectives developed by the Chief Executive Officer at the beginning of the year, as well as other factors. The
Board will provide an evaluation for the Chief Executive Officer. These evaluations will serve as the bases for bonus recommendations
and changes in the compensation arrangements of our named executives.

 Our Compensation Peer Group

 We expect to engage in informal
market analysis in evaluating our executive compensation arrangements. As the Company and its businesses mature, we may retain compensation
consultants that will assist us in developing a formal benchmark and selecting a compensation peer group of companies similar to us in
size or business for the purpose of comparing executive compensation levels.

 Program Components

 We expect our executive compensation
program to consist of the following elements:

 Base Salary

 Our base salary structure
will be designed to encourage internal growth, attract and retain new talent, and reward strong leadership that will sustain our growth
and profitability. The base salary for each named executive officer will reflect our past and current operating profits, the named executive
officer's individual contribution to our success throughout his career, internal pay equity and informal market data regarding comparable
positions within similarly situated companies. In determining and setting base salary, the Board will consider all of these factors, though
it will not assign specific weights to any factor. The Board will generally review the base salary for each named executive officer on
an annual basis. For each of our named executive officers, we expect to review base salary data internally obtained by the Company for
comparable executive positions in similarly situated companies to ensure that the base salary rate for each executive is competitive relative
to the market.

 Discretionary Bonus

 The objectives of our bonus
awards will be to encourage and reward our employees, including the named executive officers, who contribute to and participate in our
success by their ability, industry, leadership, loyalty or exceptional service and to recruit additional executives who will contribute
to that success.

 Each of our named executive
officers will be eligible for consideration for a discretionary cash bonus. The Chief Executive Officer will make recommendations regarding
bonus awards for the named executive officers and the Board provides the bonus recommendation for the Chief Executive Officer. However,
the Board/Compensation Committee will have sole and final authority and discretion in designating to whom awards are made, the size of
the award, if any, and its terms and conditions. The bonus recommendation for each of the named executive officers depends on a number
of factors, including (i) the performance of the Company for the year, (ii) the satisfaction of certain individual and corporate
performance measures, and (iii) other factors which the Board may deem relevant. The Company did not award any cash bonuses during
fiscal year 2023.

 Stock Holdings

 The Board recognizes the
importance of having a portion of the named executive officers' compensation be paid in the form of equity, to help align the executives'
interests with the interests of the Company's shareholders. Initially, we expect the Board to emphasize the cash-based portion of
our compensation program over a stock program because it believes the discretionary nature of the cash-based compensation gives it the
needed flexibility to factor in and reward the attainment of longer-term goals for the Company and the executives, as the Board deems
appropriate.

 We have not timed nor do
we plan to time our release of material non-public information for the purpose of affecting the value of executive compensation.

 Summary Compensation Table

 The following summary compensation
table sets forth the aggregate compensation we paid or accrued during the fiscal years ended December 31, 2023 and 2022 to (i) our Chief
Executive Officer (principal executive officer), (ii) our two most highly compensated executive officers other than the principal executive
officer who were serving as executive officers on December 31, 2023, whose total compensation was in excess of $100,000, and (iii) up
to two additional individuals who would have been within the two-other-most-highly compensated but were not serving as executive officers
on December 31, 2023.

 Name and Principal Position

 Fiscal Year

 Salary

 ($)

 Bonus

 ($)

 Equity

 Awards

 ($)

 All Other

 Compen-

 sation ($)

 Total

 ($)

 Man Fai CHENG (1)

 2023

 (Chief Executive Officer and Director)

 2022

 Eng Wah KUNG (2)

 2023

 (Chief Financial Officer, Secretary and Director)

 2022

 _______________

 (1)

 Man Fai CHENG has served as our Chief Executive Officer and Director since May 25, 2023.

 (2)

 Eng Wah KUNG has served as our Chief Financial Officer, Secretary and Director since May 25, 2023.

 Narrative disclosure to Summary
Compensation

 Our executive officers are
not parties to employment agreements with the Company. As the Company matures, we expect to enter into compensation arrangements in the
near future.

 Other than set out above
and below, there are no arrangements or plans in which we provide pension, retirement or similar benefits for directors or executive officers.
We expect to establish one or more incentive compensation plans in the future. Our directors and executive officers may receive securities
of the Company as incentive compensation at the discretion of our board of directors in the future. We do not have any material bonus
or profit sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or executive officers.

 Equity Awards

 There are no unvested options,
warrants or convertible securities outstanding.

 At no time during the last
fiscal year with respect to any of any of our executive officers was there:

 any outstanding option or other equity-based award repriced or otherwise materially modified (such as by extension of exercise periods, the change of vesting or forfeiture conditions, the change or elimination of applicable performance criteria, or the change of the bases upon which returns are determined;

 any waiver or modification of any specified performance target, goal or condition to payout with respect to any amount included in non-stock incentive plan compensation or payouts;

 any option or equity grant;

 any non-equity incentive plan award made to a named executive officer;

 any nonqualified deferred compensation plans including nonqualified defined contribution plans; or

 any payment for any item to be included under All Other Compensation in the Summary Compensation Table.

 Compensation of Directors

 During our fiscal year ended
December 31, 2023, we did not provide compensation to any of our employee directors for serving as our director. We currently have no
formal plan for compensating our directors for their services in their capacity as directors, although we may elect to issue stock options
to such persons from time to time. Directors are entitled to reimbursement for reasonable travel and other out-of-pocket expenses incurred
in connection with attendance at meetings of our board of directors. Our board of directors may award special remuneration to any director
undertaking any special services on our behalf other than services ordinarily required of a director.

 Compensation Risk Management

 Our Board of directors and
human resources staff conducted an assessment of potential risks that may arise from our compensation programs. Based on this assessment,
we concluded that our policies and practices do not encourage excessive and unnecessary risk taking that would be reasonably likely to
have material adverse effect on the Company. The assessment included our cash incentive programs, which awards non-executives with cash
bonuses for punctuality. Our compensation programs are substantially identical among business units, corporate functions and global locations
(with modifications to comply with local regulations as appropriate). The risk-mitigating factors considered in this assessment included:

 the alignment of pay philosophy, peer group companies and compensation amounts relative to local competitive practices to support our business objectives; and

 effective balance of cash, short- and long-term performance periods, caps on performance-based award schedules and financial metrics with individual factors and Board and management discretion.

 Compensation Committee Interlocks and Insider
Participation

 We have not yet established
a Compensation Committee. Our Board of Directors performs the functions that would be performed by a compensation committee. During the
fiscal year ended December 31, 2023, none of our executive officers has served: (i) on the compensation committee (or other board committee
performing equivalent functions or, in the absence of any such committee, the entire board of directors) of another entity, one of whose
executive officers served on our board of directors; (ii) as a director of another entity, one of whose executive officers served on the
compensation committee (or other board committee performing equivalent functions or, in the absence of any such committee, the entire
board of directors) of the registrant; or (iii) as a member of the compensation committee (or other board committee performing equivalent
functions or, in the absence of any such committee, the entire board of directors) of another entity, one of whose executive officers
served as a director of the company.

 Compensation Committee Report

 Our board of directors has
reviewed and discussed the Compensation Discussion and Analysis in this report with management. Based on its review and discussion with
management, the board of directors recommended that the Compensation Discussion and Analysis be included in this Annual Report on Form
10-K for the year ended December 31, 2023. The material in this report is not deemed filed with the SEC and is not incorporated by reference
in any of our filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made on,
before, or after the date of this Report on Form 10-K and irrespective of any general incorporation language in such filing.

 Submitted by the board of directors:

 Man Fai CHENG

 Eng Wah KUNG

 Lap Yan CHEUNG

 Ho Chi WAN

 ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

 The following table sets
forth certain information concerning the number of shares of our common stock owned beneficially as of February 4, 2024 by: (i) each person
(including any group) known to us to own more than five percent (5%) of any class of our voting securities, (ii) each of our directors
and each of our named executive officers (as defined under Item 402(m)(2) of Regulation S-K), and (iii) officers and directors as a group.
Unless otherwise indicated, the shareholders listed possess sole voting and investment power with respect to the shares shown.

 Name of Beneficial Owner (2)

 Amount and

Nature of

Beneficial

Ownership(1)

 Percent of

Class

 Officers and Directors

 Man Fai CHENG (3)

 20,000,000

 3.97%

 Ho Chi WAN (4)

 290,000,000

 57.60%

 All executive officers and directors as a group (2 persons)

 310,000,000

 61.57%

 Shareholders Holding In Excess of 5%

 Wai Yiu CHAN

 40,000,000

 7.94%

 (1)

 Beneficial ownership is determined in accordance with SEC rules and generally includes voting or investment power with respect to securities. For purposes of this table, a person or group of persons is deemed to have "beneficial ownership" of any shares of common stock that such person has the right to acquire within 60 days of February 4, 2024. Applicable percentage ownership is based on 503,466,410 shares of common stock outstanding as of February 4, 2024, and any shares that such person or persons has the right to acquire within 60 days of February 4, 2024, is deemed to be outstanding for such person, but is not deemed to be outstanding for the purpose of computing the percentage ownership of any other person. The inclusion herein of any shares listed as beneficially owned does not constitute an admission of beneficial ownership.

 (2)

 Unless otherwise noted, the business address of each beneficial owner listed is 35/F, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong. Except as otherwise indicated, the persons listed below have sole voting and investment power with respect to all shares of our common stock owned by them, except to the extent that power may be shared with a spouse.

 (3)

 Man Fai CHENG was appointed to serve as our Chief Executive Officer and Director effective May 25, 2023.

 (4)

 Ho Chi WAN was appointed to serve as our Non-Executive Chairman and Director effective May 25, 2023.

 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS,
AND DIRECTOR INDEPENDENCE.

 Other than as disclosed below,
there are no transactions during our two most recent fiscal years ended December 31, 2023, and December 31, 2022, or any currently proposed
transaction, in which our Company was or to be a participant and the amount exceeds the lesser of $120,000 or one percent of the average
of our Company's total assets at year end for our last two completed years, and in which any of our directors, officers or principal
stockholders, or any other related person as defined in Item 404 of Regulation S-K, had or have any direct or indirect material interest.

 We have not adopted policies
or procedures for approval of related person transactions but review them on a case-by-case basis. We believe that all related party transactions
were on terms at least as favorable as we would have secured in arm's-length transactions with third parties. Except as set forth
above, we have not entered into any material transactions with any director, executive officer, and promoter, beneficial owner of five
percent or more of our common stock, or family members of such persons.

 Director Independence

 Our board of directors currently
consists of Man Fai CHENG, our CEO, Eng Wah KUNG, our CFO, Lap Yan CHEUNG, our COO, and Ho Chi WAN, our Non-Executive Chairman. Our directors
do not qualify as an independent director under the published listing requirements of the NASDAQ Stock Market or the NYSE because they
are executive officers of the Company. As of the date hereof, we have not adopted a standard of independence nor do we have a policy with
respect to independence requirements for our board members or that a majority of our board be comprised of "independent directors."

 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES.

 J&S Associate ("JS")
audited our financial statements for the fiscal years ended December 31, 2023, and 2022.

 All audit work was performed
by the full time employees of JS for the above mentioned fiscal years. Our board of directors does not have an audit committee. The functions
customarily delegated to an audit committee are performed by our full board of directors. Our board of directors approves in advance,
all services performed by JS, but have not adopted pre-approval policies or procedures. Our board of directors has considered whether
the provision of non-audit services is compatible with maintaining the principal accountant's independence, and has approved such
services.

 The following table sets
forth fees billed by our auditors during the last two fiscal years for services rendered for the audit of our annual financial statements
and the review of our quarterly financial statements, services by our auditors that are reasonably related to the performance of the audit
or review of our financial statements and that are not reported as audit fees, services rendered in connection with tax compliance, tax
advice and tax planning, and all other fees for services rendered.

 December 31, 2023

 December 31, 2022

 Audit fees

 $
 60,000

 $
 43,000

 Audit related fees

 –

 –

 Tax fees

 –

 –

 All other fees

 –

 –

 Total

 $
 60,000

 $
 43,000

 ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.

 The following documents are filed as part of this report:

 (1)

 Financial Statements

 Financial Statements are included in Part II, Item 8 of this report.

 (2)

 Financial Statement Schedules

 No financial statement schedules are included
because such schedules are not applicable, are not required, or because required information is included in the financial statements or
notes thereto.

 (3)

 Exhibits

 Exhibit Number

 Description

 List of Subsidiaries *

 31.1

 Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 *

 31.2

 Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 *

 32.1

 Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350 *

 32.2

 Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350 *

 _______________________

 *

 Filed Herewith.

 ITEM 16. FORM 10-K SUMMARY.

 None.

 SIGNATURES

 Pursuant to the requirements of Section 13 or
15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.

 March 28, 2024

 By:

 /s/Man Fai CHENG

 Man Fai CHENG

 Chief Executive Officer