Galaxy Payroll Group Limited is a reputable payroll outsourcing service, employment service and consultancy and market research service provider based in Hong Kong, providing services to our customers which are mainly categorized as (i) channels which are global human resources service providers engaged by companies/organizations to handle payroll and/or employment-related matters for their branch offices in different regions; (ii) end-users which are mainly multinational companies/organizations that outsource their payroll and/or employment functions to us directly; and (iii) end-users consult us for their future expansion worldwide. Galaxy HR (SZ), Galaxy Payroll (HK), Galaxy HR (TW) and Galaxy HR (Macau) provide payroll outsourcing services in the PRC, Hong Kong, Taiwan and Macau; Galaxy Payroll (HK), Galaxy GEO Services, Galaxy HR (TW) and Galaxy HR (Macau) provide employment services in the PRC, Hong Kong, Japan, Taiwan and Macau; and Galaxy Payroll (HK) provides consultancy and market research services in Hong Kong. End-users of our services may either be (i) our indirect customers engaging us through channels; or (ii) our direct customers. During the two fiscal years ended June 30, 2023 and 2022, end-users of our services included mainly multinational companies/organizations engaging in a wide variety of industries. For payroll outsourcing services, a majority of our end-users during the two fiscal years ended June 30, 2023 and 2022 engaged in the retail and trading, industrial, IT, financial and professional services industries. For employment services, a majority of our end-users during the two fiscal years ended June 30, 2023 and 2022 engaged in the IT, retail and trading, industrial, professional institution and education and healthcare industries. During the year ended June 30, 2022, the Company has offered consultancy and market research services, a majority of our end-users engaged in the IT, industrial, media, advertising and entertainment, professional services. The Company temporarily ceased the consultancy and market research services, since July 2022.
Since the founding of our Group in 2013, we have established stable business relationships with our major customers.
In providing payroll outsourcing services, we generally assist our end-users in (i) conducting computation of salaries and the amounts of contributions to be paid for MPF in Hong Kong, social security, housing provident funds and individual income tax in the PRC and any other deductions required to be made under the laws of the respective jurisdictions; (ii) arranging for payment to the employees’ bank accounts; (iii) monitoring and maintaining payroll records; and (iv) preparing and filing employment-related tax returns. For the two fiscal years ended June 30, 2023 and 2022, we handled approximately 65,400 and 62,200 payroll transactions for our payroll outsourcing service customers, respectively. During the two fiscal years ended June 30, 2023 and 2022, we provided payroll outsourcing services in Hong Kong, Macau and Taiwan directly and cooperated with in-country partners to provide payroll outsourcing services in the PRC and India where appropriate.
In providing employment services, our Group or our in-country partners (upon our request) (i) act as the employers of record to employ suitable candidates, who are sourced by our end-users, and second them back to our end-users; and (ii) handle the seconded employees’ payroll as their employers of record. Up to the date of this prospectus, we provided employment services in Hong Kong, Taiwan and Macau directly and cooperated with in-country partners to provide employment services in the PRC, Japan, Australia, Thailand, Malaysia, Vietnam, India, Indonesia, Philippines and Bangladesh where appropriate.
In providing consultancy and market research services, our Operating Entities (i) provide consultation for local policy in advanced level and delivery of country profile reports; (ii) deliver general consultation on different topics as well as Q&A session with local experts on a monthly basis. Galaxy Payroll (HK) provides consultancy and market research services in Hong Kong directly. The management of the Group reconsidered the business strategy of the consultancy and market research services and temporarily ceased the provision of the services starting from July 2022. The management of the Group plans to restart the provision of consultancy and market research services once the initial public offering is completed and therefore the Group would have sufficient funds to employ manpower to manage the service line.
We have more than seven years of experience in the payroll outsourcing service industry and employment service industry in the PRC and Hong Kong. Each of our executive officers, Mr. Lao, Mr. But and Mr. Yeung, has accumulated over 15 years of experience in the payroll outsourcing service and employment service industry. Our senior management personnel, Ms. Lo Ho and Mr. Wu Chunlei, also have more than 14 and 17 years of experience in the payroll outsourcing service industry and employment service industry. Leveraging on our industry experience and our established relationship with our major customers, we entered into the first agreements for the provision of services in Macau, Taiwan, Japan, Australia and multiple Asian countries starting from 2015 till now. With more than a decade of experience and understanding in payroll outsourcing service industry and employment service industry and human capital market, we established a new business, consultancy and market research services, in the second half of 2021.