What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2022-07-18 compared with 2021-04-12 · 839 added, 778 removed, 288 unchanged (85% of the section changed)

were incorporated on July 19, 2013 in the state of Nevada under the name “Greenpro, Inc.”.

On May 6, 2015,

we changed our name to “Greenpro Capital Corp.”.

Our corporate structure is set forth below:

Corporate History

We were incorporated on July 19, 2013 in the state of Nevada under

the name “Greenpro, Inc.”.

On May 6, 2015, we changed our name to “Greenpro Capital Corp.”.

Our corporate structure

is set forth below:

list of our subsidiaries with a brief description of their business is set forth below:

7 unchanged sentences

Resources (HK) Limited (Hong Kong)

Greenpro’s intellectual property and currently holds six trademarks and

applications thereof.

Greenpro’s intellectual property and currently holds six trademarks and applications thereof.

Resources Sdn.

investment in commercial real estate in Malaysia.

Management Consultancy (Shenzhen) Limited (China)

Management Consultancy Limited (China)

corporate advisory services such as tax planning, cross-border listing solution and advisory, transaction services in China.

1 unchanged sentence

Hong Kong company formation advisory services and company secretarial services and financial services.

It focuses on

China clients.

It focuses on China clients.

Global Capital Sdn.

5 unchanged sentences

UBS Global Limited (Belize)

business advisory services with a main focus on offshore company formation advisory

and company secretarial services, such as tax planning, bookkeeping and financial

business advisory services with a main focus on offshore company formation advisory and company secretarial services, such as tax

planning, bookkeeping and financial review.

It focuses on South-East Asia and China clients.

UBS Global Limited (Hong Kong)

business advisory services with a main focus on Hong Kong company formation advisory

and company secretarial services, such as tax planning, bookkeeping and financial

business advisory services with a main focus on Hong Kong company formation advisory and company secretarial services, such as tax

planning, bookkeeping and financial review.

It focuses on Hong Kong clients.

3 unchanged sentences

Accounting & Secretaries Limited (formerly known as Falcon Secretaries Limited) (Hong Kong)

Hong Kong company formation advisory services and company secretarial services.

Clients based in Hong Kong and China.

Credit Limited (Hong Kong)

loan and credit services in Hong Kong.

Holder of Money Lenders License.

company formation advisory services and company secretarial services in Hong Kong.

Family Office Limited (Hong Kong)

professional multi-family office offers services such as wealth planning, administration, asset protection and management,

asset consolidation, asset performance monitoring, charity services, tax and legal services, trusteeship and risk management,

investment planning and management, and business support services.

professional multi-family office offers services such as wealth planning, administration, asset protection and management, asset

consolidation, asset performance monitoring, charity services, tax and legal services, trusteeship and risk management, investment

planning and management, and business support services.

Venture Capital Limited (Anguilla)

5 unchanged sentences

Synergy Network (Shenzhen) Limited (China)

a borderless platform through networking events and programs in China for our members

to seek professional services, business opportunities, and to exchange sources of information

a borderless platform through networking events and programs in China for our members to

seek professional services, business opportunities, and to exchange sources of information

and research.

1 unchanged sentence

insurance brokerage services with an insurance broker license in Hong Kong.

Capital Village Sdn.

business consulting and advisory services in Malaysia.

Incorporation

2 unchanged sentences

of Greenpro Resources Limited, a British Virgin Islands company

July 3, 2012, Greenpro Resources Limited (“GRBVI”) was founded and incorporated by our directors, Mr.

Lee Chong Kuang

Loke Che Chan Gilbert (“Messrs.

Lee and Loke”) in the British Virgin Islands.

July 3, 2012, Greenpro Resources Limited (“GRBVI”) was founded and incorporated by our directors, Mr.

Lee Chong Kuang and

Loke Che Chan Gilbert (“Messrs.

Lee and Loke”) in the British Virgin Islands.

Incorporation

of Greenpro Resources Limited’s wholly owned subsidiaries

Resources (HK) Limited, a Hong Kong company

April 5, 2012, Greenpro Resources (HK) Limited (“GRHK”)

was founded and incorporated by our directors, Messrs.

1 unchanged sentence

Financial Consulting Limited, a Belize company

July 26, 2012, Greenpro Financial Consulting Limited (“GFCL”, formerly known as Weld Asia Financial Consulting Limited)

was founded and incorporated by our director, Mr.

Lee Chong Kuang (“Mr.

Lee”) in Belize.

July 26, 2012, Greenpro Financial Consulting Limited (“GFCL”, formerly known as Weld Asia Financial Consulting Limited) was

founded and incorporated by our director, Mr.

Lee Chong Kuang (“Mr.

Lee”) in Belize.

Resources Sdn.

1 unchanged sentence

April 25, 2013, Greenpro Resources Sdn.

(“GRSB”) was founded and incorporated by our director, Mr.

Yap Pei Ling (“Ms.

Yap”) in Malaysia.

(“GRSB”) was founded and incorporated by our director, Mr.

Lee and his spouse,

Yap Pei Ling (“Ms.

Yap”) in Malaysia.

Holding Limited, a Hong Kong company

July 22, 2013, Greenpro Holding Limited (“GHL”) was founded and incorporated by GRBVI in Hong Kong.

Management Consultancy (Shenzhen) Limited, a Shenzhen, China company

August 30, 2013, Greenpro Management Consultancy (Shenzhen) Limited (“GMCSZ”) was founded and incorporated by GRHK

in Shenzhen, China.

July 22, 2013, Greenpro Holding Limited (“GHL”) was founded and incorporated by GRBVI in Hong Kong.

Management Consultancy Limited, a Shenzhen, China company

August 30, 2013, Greenpro Management Consultancy Limited (“GMCSZ”) was founded and incorporated by GRHK in Shenzhen,

of Greenpro Resources Limited and its wholly owned subsidiaries through acquisitions

January 1, 2014 , Greenpro Resources Limited (“GRBVI”)

January 1, 2014, Greenpro Resources Limited (“GRBVI”)

acquired 100% of the outstanding shares of GFCL , from our director, Mr.

1 unchanged sentence

January 22, 2014, GHL acquired 2 shares, representing 100% of the outstanding shares of GRHK from its shareholders, Messrs.

and Loke for a total consideration of HK$2 (approximately $0.26).

the same day after this acquisition, GRHK allotted additional 1,075,000 shares to GHL for

HK$1,075,000 (approximately $138,709).

June 30, 2014, GRHK acquired 100% of the issued and outstanding shares of Greenpro

Resources Sdn.

Bhd., a Malaysian company (“GRSB”) from our director, Mr.

and his spouse, Ms.

for a total consideration of HK$2 (approximately $0.26).

the same day after this acquisition, GRHK allotted additional 1,075,000 shares to GHL for HK$1,075,000

(approximately $138,709).

June 30, 2014, GRHK acquired 100% of the issued and outstanding shares of Greenpro Resources

Bhd., a Malaysian company (“GRSB”) from our director, Mr.

Lee and his spouse,

Yap for HK$2,943,298 (approximately $379,780) .

GRSB is principally

engaged in commercial real estate investments in Malaysia.

GRSB is principally engaged in commercial

real estate investments in Malaysia.

Incorporation

of Greenpro Venture Capital Limited, an Anguilla company and its wholly owned subsidiary, Global Leaders Corporation, an Anguilla

September 5, 2014, Greenpro Venture Capital Limited (“GVCL”) was founded and incorporated by our directors, Messrs.

Lee and Loke in Anguilla.

September 5, 2014, Greenpro Venture Cap (Qianhai) Limited (“GVCQH”, renamed to Global Leaders Corporation

on June 26, 2020) was founded and incorporated

by our director, Mr.

Lee in Anguilla.

July 18, 2015, GVCL acquired all shareholdings of GVCQH from our director, Mr.

Lee was a sole shareholder of GVCQH

before the transaction.

of Greenpro Venture Capital Limited, an Anguilla company

September 5, 2014, Greenpro Venture Capital Limited (“GVCL”) was founded and incorporated by our directors, Messrs.

Loke in Anguilla.

Incorporation

and restructure of VIE, Greenpro New Finance Academy Limited, a Hong Kong company and its wholly owned subsidiary, Greenpro Synergy

Network (Shenzhen) Limited, a Shenzhen, China company

March 2, 2016, Greenpro New Finance Academy Limited (formerly known as Greenpro Synergy Network Limited) (“GNFA”)

was incorporated in Hong Kong, as a variable interest entity (the “VIE”), which is required to consolidate with the

The principal activity of GNFA is providing a borderless platform through networking events and programs in Hong

The Company controlled GNFA through a series of contractual arrangements (the “VIE

Agreements”) between Greenpro Holding Limited, a subsidiary of the Company (“GHL”) and GNFA.

Our directors,

and restructure of VIE, Greenpro New Finance Academy Limited, a Hong Kong company and its wholly owned subsidiary, Greenpro Synergy Network

(Shenzhen) Limited, a Shenzhen, China company

March 2, 2016, Greenpro New Finance Academy Limited (formerly known as Greenpro Synergy Network Limited) (“GNFA”)

was incorporated in Hong Kong, as a variable interest entity (the “VIE”), which is required to consolidate with the Company.

The principal activity of GNFA is providing a borderless platform through networking events and programs in Hong Kong.

Company controlled GNFA through a series of contractual arrangements (the “VIE Agreements”) between Greenpro Holding Limited,

a subsidiary of the Company (“GHL”) and GNFA.

Our directors, Messrs.

Lee and Loke, are also the shareholders of GNFA.

VIE agreements included (i) an Exclusive Business Cooperation Agreement, (ii) a Loan Agreement, (iii) a Share Pledge Agreement,

(iv) a Power of Attorney and (v) an Exclusive Option Agreement with the shareholders of GNFA.

forth below is a more detailed description of each of the VIE agreement.

Business Cooperation Agreement:

Pursuant to the Exclusive Business Cooperation Agreement, GHL serves as an exclusive provider

of technical support, consulting services and management services to GNFA.

Pursuant to the Loan Agreement, GHL granted interest-free loans to the shareholders of GNFA for the sole purpose of

increasing the registered capital of GNFA.

These loans are eliminated with the capital of GNFA during consolidation.

Pledge Agreement:

Pursuant to the Share Pledge Agreement, the shareholders of GNFA pledged to GHL a first security interest in

all their equity interests in GNFA to secure GNFA’s timely and complete payment, and performance of its obligations under

the Exclusive Business Cooperation Agreement.

Pursuant to the Power of Attorney, Messrs.

Lee and Loke, as the shareholders of GNFA, granted to GHL the right to

(i) attend the shareholder meetings of GNFA (ii) exercise all shareholder rights (including voting rights) with respect to such

equity interests in GNFA and (iii) designate and appoint on behalf of such shareholders any legal representatives, directors,

supervisors, and other senior management members of GNFA.

Option Agreement:

Pursuant to the Exclusive Option Agreement, the shareholders of GNFA granted to GHL an irrevocable and exclusive

right and option to purchase all their equity interests in GNFA.

acquired a life insurance policy (the “Policy”) on May 15, 2015.

On June 13, 2016, GHL transferred the ownership of

the Policy to GNFA.

VIE agreements included (i) an Exclusive Business Cooperation Agreement, (ii) a Loan Agreement, (iii) a Share Pledge Agreement, (iv)

a Power of Attorney and (v) an Exclusive Option Agreement with the shareholders of GNFA.

acquired a life insurance policy (the “Policy”) on May 15, 2015.

On June 13, 2016, GHL transferred the ownership of the Policy

On December 19, 2019, GNFA redeemed the Policy valued at $156,058.

After deducting the loan balance of $115,889

and the insurance expense of $531 from the value of the Policy, GNFA received a net cash surrender value of $39,638.

July 28, 2017, Greenpro Synergy Network (Shenzhen) Limited (“GSNSZ”), a wholly owned subsidiary of GNFA, was incorporated

After deducting the loan balance of $115,889 and the insurance

expense of $531 from the value of the Policy, GNFA received a net cash surrender value of $39,638.

July 28, 2017, Greenpro Synergy Network (Shenzhen) Limited (“GSNSZ”), a wholly owned subsidiary of GNFA, was incorporated

in Shenzhen, China.

GSNSZ provides a borderless platform

through networking events and programs in China for our members to seek professional services, business opportunities, and to

exchange sources of information and research.

through networking events and programs in China for our members to seek professional services, business opportunities, and to exchange

sources of information and research.

April 20, 2020, after our directors, Messrs.

Lee and Loke transferred all shareholdings of GNFA to GHL, the VIE was dissolved

and restructured as a subsidiary of the Company.

Lee and Loke transferred all shareholdings of GNFA to GHL, the VIE was dissolved and restructured

as a subsidiary of the Company.

and Reorganization of Subsidiaries

1 unchanged sentence

of Greenpro Resources Limited, a British Virgin Islands company

July 31, 2015, we acquired 100% of the issued and outstanding securities of Greenpro Resources Limited, a British Virgin Islands

corporation (“GRBVI”), which had been our affiliate at the time of the acquisition.

As consideration thereof, we issued

9,070,000 restricted shares of our Common Stock and paid $25,500 in cash.

July 31, 2015, we acquired 100% of the issued and outstanding securities of Greenpro Resources Limited, a British Virgin Islands corporation

(“GRBVI”), which had been our affiliate at the time of the acquisition.

As consideration thereof, we issued 9,070,000 shares

of our restricted Common Stock and paid $25,500 in cash.

the time of the acquisition of GRBVI, Mr.

Lee was the Company’s Chief Executive Officer, President and director of

the Company, and Mr.

Loke was the Company’s Chief Financial Officer, Secretary, Treasurer and director, and Messrs.

Lee and Loke each held a 44.6% interest in the Company.

Lee was the Company’s Chief Executive Officer, President and director, and Mr.

the Company’s Chief Financial Officer, Secretary, Treasurer and director.

Lee and Loke each held a 44.6% interest

in the Company.

Before the transaction, Mr.

Lee was GRBVI’s Chief

Executive Officer and director, and Mr.

Loke was GRBVI’s Chief Financial Officer and director, and Messrs.

each held a 50% interest in GRBVI.

Upon the consummation of the acquisition, Messrs.

Lee and Loke received, in the aggregate,

$25,500 in cash and 9,070,000 shares of restricted Common Stock of the Company, and the acquisition was accounted for as

a transfer among entities under common control.

Lee was GRBVI’s Chief Executive Officer and director, and Mr.

Loke was GRBVI’s

Chief Financial Officer and director, and Messrs.

Lee and Loke each held a 50% interest in GRBVI.

Upon the consummation of the acquisition,

Lee and Loke received, in the aggregate, $25,500 in cash and 9,070,000 shares of restricted Common Stock of the Company, and

the acquisition was accounted for as a transfer among entities under common control.

of Greenpro Venture Capital Limited, an Anguilla corporation

September 30, 2015, the Company acquired all the issued and outstanding securities of Greenpro Venture Capital Limited, an Anguilla

corporation (“GVCL”), from its shareholders, Messrs.

On September 30, 2015, the Company

acquired all the issued and outstanding securities of Greenpro Venture Capital Limited, an Anguilla corporation (“GVCL”),

from its shareholders, Messrs.

Lee and Loke, respectively.

At the time of the acquisition of

Lee was the Company’s Chief Executive Officer, President and director, and Mr.

Loke was the Company’s Chief

Financial Officer, Secretary, Treasurer and director of the Company, and Messrs.

Lee and Loke each held a 43.02% interest in the

At the time of the acquisition of GVCL, Mr.

Lee was GVCL’s Chief Executive Officer and director, and Mr.

GVCL’s Chief Financial Officer and director, and Messrs.

Lee and Loke each held a 50% interest in GVCL.

Upon the consummation

of the acquisition, Messrs.

Lee and Loke received, in the aggregate, $6,000 in cash and 13,260,000 shares of restricted Common

Stock of the Company, and the acquisition was accounted for as a transfer among entities under common control.

Lee was the Company’s Chief

Executive Officer, President and director, and Mr.

Loke was the Company’s Chief Financial Officer, Secretary, Treasurer and director.

Lee and Loke each held a 43.02% interest in the Company.

At the time of the acquisition of GVCL, Mr.

Lee was GVCL’s

Chief Executive Officer and director, Mr.

Loke was GVCL’s Chief Financial Officer and director, and Messrs.

Lee and Loke each held

a 50% interest in GVCL.

Upon the consummation of the acquisition, Messrs.

Lee and Loke received, in the aggregate, $6,000 in cash and

13,260,000 shares of restricted Common Stock of the Company, and the acquisition was accounted for as a transfer among entities under

common control.

of A&G International Limited, a Belize company

September 30, 2015, we acquired 100% of the issued and outstanding securities of A&G International Limited, a Belize corporation

(“A&G”), from Ms.

Yap Pei Ling (“Ms.

Yap, a director and sole shareholder

of A&G, is the spouse of our director, Mr.

(“A&G”), from Ms.

Yap Pei Ling (“Ms.

Yap, a director and sole shareholder of A&G, is the spouse

of our director, Mr.

connection therewith, we issued to Ms.

Yap, 1,842,000 restricted shares of our Common Stock and the acquisition

was accounted for as a transfer among entities under common control.

provided corporate and business advisory services through its wholly owned subsidiaries, Asia UBS Global Limited, a Hong Kong

limited company (“AUH”) and Asia UBS Global Limited, a Belize corporation (“AUB”).

December 30, 2015, A&G transferred all the issued and outstanding securities of AUH and AUB to GRBVI in order to simplify

our corporate structure.

Yap, 1,842,000 shares of our restricted Common Stock and the acquisition was accounted for as

a transfer among entities under common control.

provided corporate and business advisory services through its wholly owned subsidiaries, Asia UBS Global Limited, a Hong Kong limited

company (“AUH”) and Asia UBS Global Limited, a Belize corporation (“AUB”).

December 30, 2015, A&G transferred all the issued and outstanding securities of AUH and AUB to GRBVI to simplify our corporate structure.

Then A&G, a corporation with no assets, was subsequently transferred back to Ms.

of Falcon Accounting & Secretaries Limited (formerly known as Falcon Secretaries Limited) and Falcon Corporate Services Limited

(formerly known as Ace Corporate Services Limited), Hong Kong companies, and Shenzhen Falcon Financial Consulting Limited, a Shenzhen,

China company

September 30, 2015, we acquired all the issued and outstanding securities of Falcon Secretaries Limited (renamed to

Falcon Accounting & Secretaries Limited on February 25, 2020), Ace Corporate Services Limited (renamed to Falcon Corporate

Services Limited on August 26, 2016) and Shenzhen Falcon Financial Consulting Limited (these companies collectively known

as “F&A”).

As consideration thereto, we issued to Ms.

Chen Yanhong, a sole shareholder of F&A (“Ms.

Chen”), 2,080,200 restricted shares of our Common Stock, representing an aggregate purchase price of $1,081,704 based

on the average closing price of the ten trading days preceding the date of the acquisition agreement on July 31, 2015, of $0.52

The purchase price was determined based on the business value generated from F&A at the time of acquisition.

acquisition was accounted for as a transfer among entities under common control.

Chen, a director and sole shareholder of F&A, is also a director and legal representative of Greenpro Management Consultancy

(Shenzhen) Limited, one of our subsidiaries in Shenzhen, China.

of Falcon Accounting & Secretaries Limited (formerly known as Falcon Secretaries Limited) and Falcon Corporate Services Limited (formerly

known as Ace Corporate Services Limited), Hong Kong companies, and Shenzhen Falcon Financial Consulting Limited, a Shenzhen, China company

September 30, 2015, we acquired all the issued and outstanding securities of Falcon Secretaries Limited (renamed to Falcon Accounting

& Secretaries Limited on February 25, 2020), Ace Corporate Services Limited (renamed to Falcon Corporate Services Limited on August

26, 2016) and Shenzhen Falcon Financial Consulting Limited (these companies collectively known as “F&A”).

As consideration

thereto, we issued to Ms.

Chen Yanhong, a sole shareholder of F&A (“Ms.

Chen”), 2,080,200 shares of our restricted Common

Stock, representing an aggregate purchase price of $1,081,704 based on the average closing price of the ten trading days preceding the

date of the acquisition agreement on July 31, 2015, of $0.52 per share.

The purchase price was determined based on the business value

generated from F&A at the time of acquisition.

The acquisition was accounted for as a transfer among entities under common control.

Chen, a director and sole shareholder of F&A, is also a director and legal representative of Greenpro Management Consultancy Limited, one of our subsidiaries in Shenzhen, China.

of Greenpro Global Capital Sdn.

Bhd., a Malaysian company

May 23, 2016, our wholly owned subsidiary, Greenpro Holding Limited (“GHL”) acquired 400 shares, representing

40% of the outstanding shares of Greenpro Wealthon Sdn.

(“GGCSB”, renamed to Greenpro Global Capital Sdn.

on June 13, 2018), from our director, Mr.

May 23, 2016, our wholly owned subsidiary, Greenpro Holding Limited (“GHL”) acquired 400 shares, representing 40% of the

outstanding shares of Greenpro Wealthon Sdn.

(“GGCSB”, renamed to Greenpro Global Capital Sdn.

on June 13, 2018),

from our director, Mr.

Lee for MYR1 (approximately $0.25) and the

acquisition was accounted for as a transfer among entities under common control.

On June 7, 2016, GGCSB issued another 200 shares to GHL at the price of MYR120,000

(approximately $30,000), resulting in GHL owing 60% of GGCSB.

August 30, 2018, the remaining 40% of the outstanding shares of GGCSB were transferred to GHL, and currently GHL holds 100% of

On June 7, 2016,

GGCSB issued another 200 shares to GHL at the price of MYR120,000 (approximately $30,000), resulting in GHL owing 60% of GGCSB.

August 30, 2018, the remaining 40% of the outstanding shares of GGCSB were transferred to GHL, and currently GHL holds 100% of GGCSB.

of Greenpro Credit Limited (formerly known as Gushen Credit Limited), a Hong Kong company

April 27, 2017, our wholly owned subsidiary, GRBVI and Gushen Credit Limited (“GCL”, renamed to Greenpro Credit Limited

on May 16, 2017), a Hong Kong corporation, entered into an asset purchase agreement, pursuant to which GRBVI purchased all the

assets of GCL.

April 27, 2017, our wholly owned subsidiary, GRBVI and Gushen Credit Limited (“GCL”, renamed to Greenpro Credit Limited on

May 16, 2017), a Hong Kong corporation, entered into an asset purchase agreement, pursuant to which GRBVI purchased all the assets of

As consideration thereto, GRBVI agreed to pay a purchase price of $105,000 and the

acquisition was accounted for as a transfer among entities under common control .

operates a money lending business in Hong Kong, located at 1701-03, 17/F, Metropolis Tower, 10 Metropolis Drive, Hung Hom, Kowloon,

On April 28, 2017, GCL sold two (2) ordinary shares, representing 100% of its ownership, at a total consideration of

$0.26 in cash to GRBVI.

operates a money lending business in Hong Kong.

On April 28, 2017, GCL sold two (2) ordinary shares, representing 100% of its ownership,

at a total consideration of $0.26 in cash to GRBVI.

The purchase price was determined based on the mutual agreement between GCL

of Greenpro Family Office Limited, a Hong Kong company

July 21, 2017, our wholly owned subsidiary, GRBVI acquired 51% of the outstanding shares of Greenpro Family Office

Limited (“GFOL”) from our director, Mr.

Loke was the sole shareholder of GFOL before the transaction

and the acquisition was accounted for as a transfer among entities under common control.

On September 21, 2018, the remaining

49% shareholdings of GFOL were transferred to GRBVI, and currently GRBVI holds

July 21, 2017, our wholly owned subsidiary, GRBVI acquired 51% of the outstanding shares of Greenpro Family Office Limited (“GFOL”)

from our director, Mr.

Loke was the sole shareholder of GFOL before the transaction and the acquisition was accounted for as

a transfer among entities under common control.

On September 21, 2018, the remaining 49% shareholdings

of GFOL were transferred to GRBVI, and currently GRBVI holds

100% of GFOL.

of Greenpro Sparkle Brokers Limited (formerly known

as Sparkle Insurance Brokers Limited), a Hong Kong company

January 2, 2019, the Company acquired Sparkle Insurance Brokers Limited (“Sparkle”, renamed Greenpro Sparkle Brokers

Limited on April 4, 2019) from Mr.

of Greenpro Sparkle Brokers Limited (formerly known as Sparkle Insurance Brokers Limited), a Hong Kong company

January 2, 2019, the Company acquired Sparkle Insurance Brokers Limited (“Sparkle”, renamed Greenpro Sparkle Brokers Limited

on April 4, 2019) from Mr.

Teh Boo Yim and Ms.

Teh Jocelyn Nga Man, the former

100% shareholders of Sparkle for total consideration of $170,322, made up of $129,032 in cash and the issuance of 8,602 shares

of the Company’s Common Stock valued at $41,290.

The shares were valued based on the closing price of the Company’s

Common Stock of $4.80 per share at acquisition and the acquisition was accounted for as a transfer among entities under common

The Company aims to expand its long term and general insurance services through the acquisition of Sparkle.

Teh Jocelyn Nga Man, the former 100% shareholders

of Sparkle for total consideration of $170,322, made up of $129,032 in cash and the issuance of 8,602 shares of the Company’s Common

Stock valued at $41,290.

The shares were valued based on the closing price of the Company’s Common Stock of $4.80 per share at

acquisition and the acquisition was accounted for as a transfer among entities under common control.

The Company aims to expand its long

term and general insurance services through the acquisition of Sparkle.

of controlling interests:

of Forward Win International Limited, a Hong Kong company

February 25, 2015, we acquired 60% of the issued and outstanding shares of Forward Win International

Limited, a Hong Kong company (“FWIL”) at a consideration of $774.

FWIL is principally engaged in commercial real estate

investments in Hong Kong.

of Yabez (Hong Kong) Company Limited, a Hong Kong company and its wholly owned subsidiary, Yabez Business Service (SZ) Company

Limited, a Shenzhen, China company

September 30, 2015, we acquired 60% of the issued and outstanding securities of Yabez (Hong Kong) Company Limited, a Hong Kong

corporation, together with its wholly owned subsidiary, Yabez Business Service (SZ) Company Limited in Shenzhen, China (collectively,

“Yabez”).

As consideration thereto, we issued to the shareholders of Yabez 486,171 restricted shares of our Common

Stock, representing an aggregate purchase price of $252,808 based on the average closing price of the ten trading days preceding

the date of the acquisition agreement on July 31, 2015, of $0.52 per share.

The purchase price was determined based on the business

value generated from Yabez at the time of acquisition.

Yabez provides company formation advisory services, corporate secretarial

services and IT-related services to both of Hong Kong and Shenzhen-based clients.

February 25, 2015, we acquired 60% of the issued and outstanding shares of Forward Win International Limited, a Hong Kong company (“FWIL”)

at a consideration of $774.

FWIL is principally engaged in commercial real estate investments in Hong Kong.

disposal, and reacquisition of Greenpro Capital Village Sdn.

(formerly known as Weld Asia Global Advisory Sdn.

Bhd.), a Malaysian

On February 25, 2013, Greenpro

Financial Consulting Limited, a subsidiary of the Company, acquired 100% of Weld Asia Global Advisory Sdn.

Bhd., a Malaysian company,

from its shareholders, Mr.

Lee Chong Kuang, and his spouse, Ms.

Yap Pei Ling, for MYR2 (approximately $0.50).

of the acquisition, Mr, Lee Chong Kuang was the Company’s Chief Executive Officer, President and director and the acquisition

was accounted for as a transfer among entities under common control.

2015, Weld Asia Global Advisory Sdn.

was renamed Greenpro Capital Village Sdn.

On October 1, 2015, the

Company sold 49% of the outstanding shares of GCVSB to QSC Asia Sdn.

Bhd., an unrelated party (“QSC”), for MYR49,000 (approximately

On June 26, 2019, the Company disposed of GCVSB due to continued losses incurred by GCVSB and sold its remaining 51% interest

in GCVSB to Ms.

Tan Tee Yong, an unrelated party (“Ms.

Tan”), for MYR51 (approximately $12).

June 22, 2020, our director, Mr.

Lee acquired respective 51% and 49% shareholdings of GCVSB (51,000 shares and 49,000 shares of common

stock of GCVSB) from Ms.

Tan and QSC at a price of MYR51,000 and MYR49,000, respectively or MYR1 per share.

July 2021, the Company acquired all the issued and outstanding shares of common stock of GCVSB from our director, Mr.

Lee at a consideration

of MYR167 (approximately $40) and redeemed 347,000 shares out of a total of 504,750 shares of preferred stock from 25 preferred

stock shareholders of GCVSB by issuance of 79,530 shares of the Company’s Common Stock valued at $69,191 or $0.87 per share.

consideration of the acquisition was $69,231.

The Company acquired GCVSB to expand its business consulting services.

of subsidiaries

of Yabez (Hong Kong) Company Limited, a Hong Kong company and its wholly owned subsidiary, Yabez Business Service (SZ) Company

Limited, a Shenzhen, China company

February 29, 2020, the Company sold its entire 60% interest in Yabez (Hong Kong) Limited and Yabez Business Service (SZ) Company

Limited (collectively, “Yabez”) to an unrelated party for $1.

The transaction closed on February 29, 2020, and Yabez

was deconsolidated following the closing.

February 29, 2020, Yabez’s assets totaled $167,017, and consisted of cash of $24,887, trade accounts receivable of $129,792,

and other assets of $12,338.

At February 29, 2020, Yabez’s liabilities consisted of trade accounts payables of $173,680.

At February 29, 2020, Yabez’s net deficit was ($6,663), of which the non-controlling interest was ($7,446) and the Company’s

basis was $783, resulting in a loss on disposal of $727, after consideration of foreign currency adjustments.

of Global Leaders Corporation, an Anguilla corporation

May 20, 2020, Global Leaders Corporation (“GVCQH”) allotted an additional 196 shares to an unrelated party

at a price of $196.

As a result, an immediate holding company of GVCQH, Greenpro Venture Capital Limited (“GVCL”),

holds a 2% interest in GVCQH, and GVCQH’s sole asset, cash of $129, was disposed and a loss on disposal of $125 was

On August 17, 2020, GVCL sold the balance of the 2% interest in GVCQH to the unrelated party for $4.

of Greenpro Credit Limited, a Hong Kong company

August 2, 2021, the Company sold its entire 100% interest in Greenpro Credit Limited to an unrelated party for HK$30,000 (approximately

$3,847), due to continuing losses incurred by GCL.

of August 2, 2021, GCL had no assets or liabilities, resulting in a gain on disposal of $3,847, after consideration of foreign currency

of an associate company

2 unchanged sentences

Prapakorn Saokliew and Ms.

Surapa Jamjang, each holding 45.13% and 45.12% shareholdings in KSP Holding Group Company Limited, respectively (collectively,

the “Sellers”).

Pursuant to the agreement, GVCL agreed to acquire approximately 49% of the shareholdings of KSP Holding

Group Company Limited (“KSP”, renamed to Greenpro KSP Holding Group Company Limited on August 7, 2018) in exchange

for $363,930, made up of $75,000 in cash and 38,524 shares of the Company’s Common Stock valued at $288,930.

also issued 578 shares of the Company’s Common Stock valued at $7.50 per share, or a total of $4,335, as a commission that

was also capitalized as cost of investment in KSP.

KSP provides accounting, auditing and consulting services in Thailand.

Company accounted for its investment in KSP under the equity method of accounting.

at December 31, 2018, the Company determined that its investment in KSP was impaired and recorded an impairment of unconsolidated

investment of $363,930.

Jamjang, each holding 45.13% and 45.12% shareholdings in KSP Holding Group Company Limited, respectively.

Pursuant to the agreement, GVCL agreed to acquire approximately 49% of the shareholdings of KSP Holding Group Company Limited (“KSP”,

renamed to Greenpro KSP Holding Group Company Limited on August 7, 2018) in exchange for $363,930, made up of $75,000 in cash and 38,524

shares of the Company’s Common Stock valued at $288,930.

The Company also issued 578 shares of the Company’s Common Stock

valued at $7.50 per share, or a total of $4,335, as a commission that was also capitalized as cost of investment in KSP.

accounting, auditing and consulting services in Thailand.

The Company accounted for its investment in KSP under the equity method of

December 31, 2018, the Company determined that its investment in KSP was impaired and recorded an impairment of unconsolidated investment

We currently hold approximately 48% of the issued and outstanding shares of KSP.

of other investments

Trust Limited

trusteeship, custodial and

ATP Corporation

Shareholdings

Greenpro Trust Limited

March 30, 2015

Provides trusteeship,

April 13, 2016

and fiduciary services

Corporation (Nevada, US)

health and wellness products

Fine Art Inc.

(Wyoming, US)

in art (Millennium Sapphire)

an online equity crowdfunding

Leaders Corporation

training and consulting services

Bullion Holdings Inc.

Ata Plus Sdn.

Provides an online equity crowdfunding platform to assist small to medium-sized

enterprises (SMEs) to access funding through its platform

Global Leaders Corporation

August 30, 2020

Provides training and

consulting services

First Bullion Holdings

October 19, 2020

Provides cryptocurrency

(British Virgin Islands)

February 17, 2021

and digital asset exchange

New Business Media Sdn.

November 1, 2020

Provides a capital

market focused portal to

browse business markets or corporate news

Adventure Air Race Company

Limited (Nevada, US)

December 22, 2020

Organizes international

air race series

Pentaip Technology Inc.

December 29, 2020

Provides big data and

artificial intelligence (AI) to provide

financial services

Angkasa-X Holdings Corp.

(British Virgin Islands)

February 3, 2021

Provides internet connectivity

to rural areas in Southeast Asia

Simson Wellness Tech.

February 19, 2021

Provides a digital

platform that acts as middleware for distribution of optical products

Innovest Energy Fund (Cayman

April 7, 2021

Develops a multi-faceted

suite of products and services for the cryptocurrency industry and economy

Jocom Holdings Corp.

Operates a Malaysia-based

m-commerce platform specializing in online grocery shopping via smartphones

72 Technology Group Limited

(Cayman Islands)

July 13, 2021

Provides digital marketing

services using 5G and artificial intelligence (AI) technology

Ata Global Inc.

July 30, 2021

Provides financial

technology (FinTech) services

catTHIS Holdings Corp.

August 27, 2021

Provides a digital

catalog management platform for users to upload, share and retrieve digital catalogs from any devices

Fruita Bio Limited (British

Virgin Islands)

cryptocurrency trading and

asset exchange services

Business Media Sdn.

a capital market focused portal to

business markets or corporate news

Air Race Company Limited

international air race series

Technology Inc.

big data and focuses on

intelligence (AI) to provide

September 27, 2021

Produces bio-degradable

packaging materials

of Greenpro Trust Limited

March 30, 2015, our wholly owned subsidiary, GRBVI acquired 300,000 shares, representing approximately 8% of the issued and outstanding

shares of Greenpro Trust Limited, a Hong Kong company (“GTL”), from its shareholders at a price of HK$300,000 (approximately

$38,710) or HK$1 per share.

GTL is principally engaged in provision of trusteeship, custodial and fiduciary services to clients

in Hong Kong.

April 13, 2016, another wholly owned subsidiary of the Company, Asia UBS Global Limited, a Belize company (“AUB”)

acquired 100,000 shares, representing approximately 3% of the issued and outstanding shares of GTL for HK$100,000 (approximately

shares of Greenpro Trust Limited, a Hong Kong company (“GTL”), from its shareholders at a price of HK$300,000 (approximately

$38,710) or HK$1 per share.

Company indirectly has an aggregate of approximately 11% interest in GTL with an investment value of $51,613 which was recorded

at cost and approximates its fair value.

GTL is principally engaged in provision of trusteeship, custodial and fiduciary services to clients in Hong

April 13, 2016, another wholly owned subsidiary of the Company, Asia UBS Global Limited, a Belize company (“AUB”) acquired

100,000 shares, representing approximately 3% of the issued and outstanding shares of GTL for HK$100,000 (approximately $12,903) or HK$1

Company indirectly has an aggregate of approximately 11% interest in GTL with an investment value of $51,613 which was recorded at cost

and approximates its fair value.

Lee and Loke are common directors of GTL and the Company.

of Agape ATP Corporation

April 14, 2017, GVCL acquired 17,500,000 shares of common stock of Agape ATP Corporation, a Nevada corporation (“Agape”),

par value of $0.0001 per share, for $1,750.

Agape is principally engaged in providing health and wellness products and advisory

services to clients in Malaysia.

Currently, we hold approximately 5% of the total outstanding shares of Agape.

Agape is principally engaged in providing health and wellness products and advisory services

to clients in Malaysia.

As of December 31, 2021, GVCL holds approximately 5% of the total outstanding shares of Agape and recognized

the investment at historical cost of $1,750 under other investments.

of Millennium Fine Art Inc.

June 29, 2020, the Company entered into a purchase and sale agreement with the Company’s subsidiary, Millennium Fine Art

(“MFAI”), pursuant to which the Company agreed to sell its 4% ownership interest in a 12.3 kilogram carved natural

blue sapphire (the “Millennium Sapphire”) to MFAI and MFAI agreed to acquire the 4% ownership of the Millennium Sapphire

June 29, 2020, the Company entered into a purchase and sale agreement with its Wyoming incorporated subsidiary, Millennium Fine Art Inc.

Pursuant to the agreement, the Company agreed to sell its 4% ownership interest in a 12.3 kilogram carved natural

blue sapphire (the “Millennium Sapphire”) to MFAI and MFAI agreed to acquire the 4% ownership of the Millennium Sapphire

from the Company.

As consideration thereto, on July 1, 2020, MFAI issued 2,000,000 restricted shares of its Class B common stock

to the Company valued at $5,000,000 ($5 per share), in which 1,000,000 shares were retained by the Company and the other 1,000,000

shares were reserved as a dividend to the shareholders of the Company.

The Company expects to distribute these 1,000,000 shares

to its shareholders in 2021.

As consideration thereto, on July 1, 2020, MFAI issued 2,000,000 restricted shares of its Class B common stock to the

Company valued at $5,000,000 ($5 per share), in which 1,000,000 shares were retained by the Company and the other 1,000,000 shares were

reserved as a dividend to the shareholders of the Company.

The Company expects to distribute these 1,000,000 shares to its shareholders

A gain on disposal of $1,000,000 was recorded at the Company level but was eliminated upon consolidation.

July 1, 2020, MFAI issued 19,200,000 restricted shares of its Class A common stock to the a majority owner of the Millennium Sapphire,

July 1, 2020, MFAI issued 19,200,000 restricted shares of its Class A common stock to a majority owner of the Millennium Sapphire, Mr.

Daniel McKinney valued at $96,000,000 ($5 per share) to acquire the remaining 96% interest in the Millennium Sapphire.

is an investment company and has a 100% interest in the Millennium Sapphire.

of December 31, 2020, the Company owns 2,000,000 shares of Class B common stock of MFAI, in which 1,000,000 shares were retained

by the Company and recognized at historical cost of $4,000,000 under other investments, representing approximately 5% of the issued

and outstanding shares of MFAI and approximately 1% of MFAI’s total voting rights.

The other 1,000,000 shares were reserved

as a dividend to the shareholders of the Company and the Company expects to distribute these 1,000,000 shares to its shareholders

MFAI is an investment

company and has a 100% interest in the Millennium Sapphire.

of December 31, 2021, the Company owns 2,000,000 shares of Class B common stock of MFAI, in which 1,000,000 shares were retained by the

Company and recognized at historical cost of $4,000,000 (by issuance of 4,444,444 shares of the Company’s restricted Common Stock

at $0.9 per share) under other investments, representing approximately 5% of the issued and outstanding shares of MFAI and approximately

1% of MFAI’s total voting rights.

The other 1,000,000 shares were reserved as a dividend to the shareholders of the Company, and

as of the date of this report, the dividend has not been distributed.

of Ata Plus Sdn.

July 8, 2020, GVCL entered into an acquisition agreement with all of eight shareholders of Ata Plus Sdn.

and Ata Plus Sdn.

Bhd., a company incorporated in Malaysia and a Recognized Market Operator (RMO) by the Securities Commission of Malaysia (“APSB”).

July 8, 2020, GVCL entered into an acquisition agreement with all the eight shareholders of Ata Plus Sdn.

Bhd., a company incorporated in Malaysia and a Recognized Market Operator (RMO) by the Securities Commission of Malaysia (“APSB”).

Pursuant to the agreement, GVCL agreed to acquire 15% of the issued and outstanding share of APSB for a purchase price of $749,992.

The purchase price was paid by the Company issuing to the shareholders approximately 457,312 restricted shares of the Company’s

Common Stock, which was based on the average closing price of the Company’s Common Stock for the five trading days preceding

the date of the agreement, $1.64 per share, on November 18, 2020.

purchase price was paid by the Company issuing to the shareholders approximately 457,312 shares of the Company’s restricted Common

Stock, which was based on the average closing price of the Company’s Common Stock for the five trading days preceding the date

of the agreement, $1.64 per share, on November 18, 2020.

of December 31, 2021, GVCL holds 15% shareholdings of APSB and recognized the investment at historical cost of $749,992 under other investments.

of Global Leaders Corporation

August 30, 2020, GVCL entered into a subscription agreement with Global Leaders Corporation, a Nevada corporation (“GLC”)

to acquire 9,000,000 shares of common stock of GLC at a price of $900 or $0.0001 per share, representing approximately 6% of the

total issued and outstanding shares of GLC.

GLC’s principal activities are providing training and consulting services to

corporate clients in Hong Kong and China.

August 30, 2020, GVCL entered into a subscription agreement with Global Leaders Corporation, a Nevada corporation (“GLC”)

to acquire 9,000,000 shares of common stock of GLC at a price of $900 or $0.0001 per share, representing approximately 6% of the total

issued and outstanding shares of GLC.

GLC’s principal activities are providing training and consulting services to corporate clients

in Hong Kong and China.

As of December 31, 2021, GVCL recognized the investment at historical cost of $900 under other investments.

of First Bullion Holdings, Inc.

October 19, 2020, the Company entered into a stock purchase and option agreement with Mr.

Tang Ka Siu Johnny and First Bullion

Holdings Inc., a British Virgin Islands company (“FBHI”).

Pursuant to the agreement, the Company agreed to acquire

10% of the issued and outstanding shares of FBHI for a purchase price of $1,000,000 by issuing approximately 685,871 restricted

shares of the Company’s Common Stock to Mr.

Tang, which was based on the average closing price of the Company’s Common

Stock for the five trading days preceding the date of the agreement, $1.458 per share.

December 11, 2020, the Company issued 685,871 shares of its Common Stock to two designees of Mr.

Tang at $1.458 per share.

is in the business of banking, payment gateway, credit cards, debit cards, money lending, crypto trading and securities token

offerings, with corporate offices in the Philippines and Hong Kong.

October 19, 2020, GVCL entered into a stock purchase and option agreement with Mr.

Tang Ka Siu Johnny and First Bullion Holdings Inc.

FBHI, a British Virgin Islands company, operates the businesses of banking, payment gateway, credit cards, debit

cards, money lending, crypto trading and securities token offerings, with corporate offices in the Philippines and Hong Kong.

to the agreement, GVCL agreed to acquire 10% of the issued and outstanding shares of FBHI for a purchase price of $1,000,000 by issuing

approximately 685,871 shares of the Company’s restricted Common Stock to Mr.

Tang, which was based on the average closing price

of the Company’s Common Stock for the five trading days preceding the date of the agreement.

to the agreement, Mr.

Tang and FBHI also granted to the Company an option for 180 days following the date of the agreement to

purchase an additional 8% of the issued and outstanding shares of FBHI, at an agreed valuation of FBHI equal to $20,000,000.

consideration of acquisition of the option, the Company agreed to issue 250,000 restricted shares of the Company’s Common

Tang, which shall constitute partial payment for the option should the Company elect to exercise the option.

to the agreement, the purchase price of the option shall be based on the average closing price of the Company’s Common Stock

for the five trading days preceding the date of exercise of the option.

February 17, 2021, the Company exercised its option and FBHI issued to our wholly owned subsidiary, GVCL, 160,000 ordinary shares

of FBHI, comprising the additional 8% of the shares sold under the agreement valued at $20,000,000.

February 26, 2021, the Company issued an additional 342,592 restricted shares of its Common Stock to two designees of Mr.

at $2.70 per share (valued at approximately $925,000).

Tang and FBHI also granted to GVCL an option for 180 days following the date of the agreement to purchase an additional

8% of the issued and outstanding shares of FBHI, at an agreed valuation of FBHI equal to $20,000,000.

In consideration of acquisition

of the option, GVCL agreed to issue 250,000 shares of the Company’s restricted Common Stock to Mr.

Tang, which shall constitute

partial payment for the option should GVCL elect to exercise the option.

December 11, 2020, the Company issued 685,871 shares of its restricted Common Stock to two designees of Mr.

Tang at $1.458 per share

to acquire 10% of the issued and outstanding shares of FBHI for a purchase price of $1,000,000 and issued 250,000 shares of its restricted

Common Stock at $364,500 or $1.458 per share in partial consideration of the additional 8% shareholdings of FBHI.

February 17, 2021, GVCL exercised its option and FBHI issued to GVCL 160,000 ordinary shares of FBHI, comprising the additional 8% of

the shares sold under the agreement valued at $20,000,000.

February 26, 2021, the Company issued an additional 342,592 shares of its restricted Common Stock to two designees of Mr.

Tang at $2.70

per share (valued at approximately $925,000).

of December 31, 2021, GVCL, in aggregate, holds 360,000 ordinary shares of FBHI, representing 18% of the total issued and

outstanding shares of FBHI.

The investment was recognized at historical cost of $2,289,500 under other investments.

of New Business Media Sdn.

November 1, 2020, the Company entered into an acquisition agreement with Ms.

November 1, 2020, GVCL entered into an acquisition agreement with Ms.

Lee Yuet Lye and Mr.

Chia Min Kiat, shareholders

of New Business Media Sdn.

Chia Min Kiat, shareholders of New Business

New Business Media Sdn.

Bhd., a Malaysian company involved in operating a Chinese media portal,

which provides digital news services focusing on Asian capital markets (“NBMSB”).

NBMSB is one of the biggest Chinese

language digital business news networks in Malaysia and has readers from across South East Asia.

is a Malaysian company involved in operating a Chinese media portal, which provides

digital news services focusing on Asian capital markets (“NBMSB”).

NBMSB is one of the biggest Chinese language digital business

news networks in Malaysia and has readers from across Southeast Asia.

to the agreement, both Ms.

Chia have agreed to sell to the Company an 18% equity stake in NBMSB in consideration of

a new issuance of 257,591 restricted shares of the Company’s Common Stock, valued at $411,120.

Chia have agreed to sell to GVCL an 18% equity stake in NBMSB in consideration of a new issuance

of 257,591 shares of the Company’s restricted Common Stock, valued at $411,120 or $1.596 per share.

The consideration was derived

from an agreed valuation of NBMSB of $2,284,000, based on its assets including customers, fixed assets, cash and cash equivalents,

liabilities as of November 1, 2020.

from an agreed valuation of NBMSB of $2,284,000, based on its assets including customers, fixed assets, cash and cash equivalents, liabilities

as of November 1, 2020.

of December 31, 2021, GVCL recognized the investment at historical cost of $411,120 under other investments.

of Adventure Air Race Company Limited

December 21, 2020, GVCL entered into a subscription agreement with Adventure Air Race Company Limited, a company incorporated

in Nevada and is principally engaged in promoting and managing an air race series (“AARC”).

Pursuant to the agreement,

GVCL acquired 2,000,000 shares of common stock of AARC at a price of $200 or $0.0001 per share.

December 22, 2020, GVCL entered another subscription agreement with AARC to acquire an additional 996,740 shares of common stock

of AARC at a price of $249,185 or $0.25 per share.

Company in aggregate holds approximately 4% of the issued and outstanding shares of AARC.

December 21, 2020, GVCL entered into a subscription agreement with Adventure Air Race Company Limited, a company incorporated in Nevada

and is principally engaged in promoting and managing an air race series (“AARC”).

Pursuant to the agreement, GVCL acquired

2,000,000 shares of common stock of AARC at a price of $200 or $0.0001 per share.

December 22, 2020, GVCL entered another subscription agreement with AARC to acquire an additional 996,740 shares of common stock of AARC

at a price of $249,185 or $0.25 per share.

of December 31, 2021, GVCL, in aggregate, holds approximately 4% of the issued and outstanding shares of AARC and recognized the

investment at historical cost of $249,385 under other investments.

of Pentaip Technology Inc.

December 29, 2020, GVCL entered into a subscription agreement with Pentaip Technology Inc., a Nevada corporation (“PTI”)

to acquired 4,000,000 shares of common stock of PTI at a price of $400 or $0.0001 per share, representing 10% of the issued and

outstanding shares of PTI.

December 29, 2020, GVCL entered into a subscription agreement with Pentaip Technology Inc., a Nevada corporation (“PTI”)

to acquired 4,000,000 shares of common stock of PTI at a price of $400 or $0.0001 per share, representing 10% of the issued and outstanding

shares of PTI.

PTI uses artificial intelligence (“AI”) to provide investors and traders with financial data.

currently operate and provide a wide range of business solution services to small and medium-size businesses located in South-East

Asia and East Asia, with an initial focus on Hong Kong, China and Malaysia, and subsequently in Thailand and Taiwan.

Our comprehensive

range of services includes cross-border business solutions, record management services, and accounting outsourcing services.

cross-border business services include, among other services, tax planning, trust and wealth management, cross border listing

advisory services and transaction services.

As part of the cross-border business solutions, we have developed a package solution

of services (“Package Solution”) that can reduce business costs and enhance revenues.

The investment

was recognized at historical cost of $400 under other investments.

of Angkasa-X Holdings Corp.

February 3, 2021, GVCL entered into a subscription agreement with Angkasa-X Holdings Corp., a British Virgin Islands corporation, which

principally provides internet connectivity to rural areas in Southeast Asia (“Angkasa”).

Pursuant to the agreement, GVCL

acquired 28,000,000 ordinary shares of Angkasa at a price of $2,800 or $0.0001 per share.

The investment was recognized at historical

cost of $2,800 under other investments.

of Simson Wellness Tech.

February 19, 2021, GVCL entered into a subscription agreement with Simson Wellness Tech.

Corp., a Nevada corporation, which is a digital

platform that acts as middleware for distribution of optical products (“Simson”).

Pursuant to the agreement, GVCL acquired

5,000,000 shares of common stock of Simson at a price of $500 or $0.0001 per share.

The investment was recognized at historical cost

of $500 under other investments.

of Innovest Energy Fund

On February 11, 2021, Greenpro

Resources Limited, a subsidiary of the Company (“GRL”) entered into a subscription agreement with Innovest Energy Fund, a

global multi-asset fund incorporated in the Cayman Islands and principally engaged in developing a multi-faceted suite of products and

services for the cryptocurrency industry and economy (the “Fund”).

Pursuant to the agreement, GRL agreed to subscribe for

$7,206,000 worth of Class B shares of the Fund by issuing 3,000,000 shares of the Company’s

restricted Common Stock, valued at $7,206,000 to the Fund.

April 7, 2021, the Company issued 3,000,000 shares of its restricted Common Stock to the Fund and issued 60,000 shares of its restricted

Common Stock to a designee of the Fund as a subscription fee of $144,120 ($2.402 per share) associated with the Fund.

December 31, 2021, GRL determined that its investment in the Fund was impaired and revalued at $1,856,400, and an impairment loss of

$5,349,600 was recorded.

of Jocom Holdings Corp.

June 2, 2021, GVCL entered into a subscription agreement with Jocom Holdings Corp., a Nevada corporation, which operates a Malaysia-based

m-commerce platform specializing in online grocery shopping via smartphones (“Jocom”).

Pursuant to the agreement, GVCL acquired

1,500,000 shares of common stock of Jocom at a price of $150 or $0.0001 per share.

The investment was recognized at historical cost of

$150 under other investments.

of 72 Technology Group Limited

On July 13, 2021, GVCL entered

into a subscription agreement with 72 Technology Group Limited, a Cayman Islands media corporation based in China which

provides digital marketing services using 5G and AI technology (“72 Technology”).

Pursuant to the agreement, GVCL acquired

600,000 shares of common stock of 72 Technology at a price of $6,000 or $0.01 per share.

The investment was recognized at historical

cost of $6,000 under other investments.

of Ata Global Inc.

July 30, 2021, GVCL entered into a subscription agreement with Ata Global Inc., a Nevada corporation, provides financial technology (“FinTech”)

services (“Ata Global”).

Pursuant to the agreement, GVCL acquired 2,250,000 shares of common stock of Ata Global at a

price of $225 or $0.0001 per share.

The investment was recognized at historical cost of $225 under other investments.

of catTHIS Holdings Corp.

August 27, 2021, GVCL entered into a subscription agreement with catTHIS Holdings Corp., a Nevada corporation, which provides a digital

catalog management platform for users to upload, share and retrieve digital catalogs from any devices (“catTHIS”).

to the agreement, GVCL acquired 2,000,000 shares of common stock of catTHIS at a price of $200 or $0.0001 per share.

The investment was

recognized at historical cost of $200 under other investments.

of Fruita Bio Limited

On September 27, 2021, GVCL entered

into a subscription agreement with Fruita Bio Limited., a British Virgin Islands corporation with major business operations in Thailand

and principally engaged in production of bio-degradable packaging materials (“Fruita”).

Pursuant to the agreement,

GVCL acquired 10,000,000 ordinary shares of Fruita at a price of $1,000 or $0.0001 per share.

The investment was recognized at

historical cost of $1,000 under other investments.

currently operate and provide a wide range of business solution services to small and medium-size businesses located in South-East Asia

and East Asia, with an initial focus on Hong Kong, China and Malaysia, and subsequently in Thailand and Taiwan.

Our comprehensive range

of services includes cross-border business solutions, record management services, and accounting outsourcing services.

Our cross-border

business services include, among other services, tax planning, trust and wealth management, cross border listing advisory services and

transaction services.

As part of the cross-border business solutions, we have developed a package solution of services (“Package

Solution”) that can reduce business costs and enhance revenues.

also operate a venture capital business through Greenpro Venture Capital Limited, an Anguilla corporation.

Our venture capital

business is focused on (1) establishing a business incubator for start-up and high growth companies to support such companies

during critical growth periods, which includes education and support services, and (2) searching for investment opportunities

in selected start-up and high growth companies, which we expect can generate significant returns to the Company.

target companies located in Asia including Hong Kong, Malaysia, China, Thailand and Singapore.

We anticipate our venture capital

business will also engage in the purchase or lease of commercial properties in the same Asian region.

Our venture capital business

is focused on (1) establishing a business incubator for start-up and high growth companies to support such companies during critical

growth periods, which includes education and support services, and (2) searching for investment opportunities in selected start-up and

high growth companies, which we expect can generate significant returns to the Company.

We expect to target companies located in Asia

including Hong Kong, Malaysia, China, Thailand and Singapore.

We anticipate our venture capital business will also engage in the purchase

or lease of commercial properties in the same Asian region.

provide a range of services to our clients as part of the Package Solution that we have developed.

We believe that our clients

can reduce their business costs and enhance their revenues by utilizing our Package Solution.

We believe that our clients can reduce

their business costs and enhance their revenues by utilizing our Package Solution.

Business Solutions/Cross-Border Listing Solutions

provide a full range of cross-border services to small to medium-sized businesses to assist them in conducting their business

Our “Cross-Border Business Solution”

includes the following services:

provide a full range of cross-border services to small to medium-sized enterprises (SMEs) to assist them in conducting their business

Our “Cross-Border Business Solution” includes the following services:

clients on company formation in Hong Kong, the United States, the British Virgin Islands and other overseas jurisdictions;

companies to set up bank accounts with banks in Hong Kong to facilitate clients’

banking operations;

companies to set up bank accounts with banks in Hong Kong to facilitate clients’ banking operations;

bank loan referral services;

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liquidation, insolvency, bankruptcy and individual voluntary arrangement advice and assistance;

a marketing strategy and promoting the company’s business, products and services;

financial and liquidity analysis;

1 unchanged sentence

in liaising with investors for the purposes of raising capital;

in setting up cloud inventory systems to assist clients to record, maintain and control their inventories and track their

inventory levels;

in setting up cloud inventory systems to assist clients to record, maintain and control their inventories and track their inventory

in setting up cloud accounting systems to enable clients to keep track of their financial performance;

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on Trust and wealth management;

is a growing market in Asia of companies who are seeking to go public and become listed on a recognized exchange in a foreign

jurisdiction.

an online equity crowdfunding platform to assist small to medium sized enterprises (SMEs)

to access funding through its platform;

cryptocurrency trading and digital asset exchange services;

a capital market focused portal to browse business markets or corporate news;

Providing big data and focusing on artificial

intelligence (AI) to provide financial services;

financial technology (FinTech) services;

is a growing market in Asia of companies who are seeking to go public and become listed on a recognized exchange in a foreign jurisdiction.

We see tremendous opportunity to the extent that this trend continues worldwide.

With respect to cross border listing

advisory services, we are assisting private companies in their desire to list and trade on public exchanges, including the U.S.

With respect to cross border listing advisory services,

we are assisting private companies in their desire to list and trade on public exchanges, including the U.S.

NASDAQ and OTC Markets.

The Jumpstart Our Business Startups Act, or JOBS Act, signed in 2012, eases the initial public offering

(“IPO”) process for “emerging growth companies”

and reduces their regulatory burden, (2) improves the

ability of these companies to access capital through private offerings and small public offerings without SEC registration, and

(3) allows private companies with a substantial shareholder base to delay becoming a public reporting company.

our cross-border listing advisory services, we seek to form the bridge between these companies seeking to conduct their IPO (or

in some cases, self-directed public offerings), and their goal of becoming a listed company on a recognized U.S.

exchange, such as NASDAQ and the NYSE.

The Jumpstart Our Business Startups Act, or JOBS Act, signed in 2012, eases the initial public offering (“IPO”) process for

“emerging growth companies” and reduces their regulatory burden, (2) improves the ability of these companies to access capital

through private offerings and small public offerings without SEC registration, and (3) allows private companies with a substantial shareholder

base to delay becoming a public reporting company.

our cross-border listing advisory services, we seek to form the bridge between these companies seeking to conduct their IPO (or in some

cases, self-directed public offerings), and their goal of becoming a listed company on a recognized U.S.

national exchange, such as NASDAQ

and the NYSE.

there are several alternatives for companies seeking to go public and trade on the U.S.

OTC markets, we primarily focus on three

OTC markets, we primarily focus on three methods:

Statement on Form S-1

Form 10 shell company

manner in which the OTC markets are structured provides companies the ability to “uplist”

in the marketplace as they

provide better transparency.

manner in which the OTC markets are structured provides companies the ability to “uplist” in the marketplace as they provide

better transparency.

These OTC markets include:

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for early-stage and developing U.S.

and international companies that are not yet able to qualify for

and international companies that are not yet able to qualify for OTCQX.

Pink Open Marketplace:

offers trading in a wide spectrum of securities through any broker.

With no minimum financial standards,

this market includes foreign companies that limit their disclosure, penny stocks and shells, as well as distressed, delinquent,

and dark companies not willing or able to provide adequate information to investors.

act as a case reference for our clients, as we originally had our shares quoted in the OTC markets and subsequently “uplisted”

With no minimum financial standards, this

market includes foreign companies that limit their disclosure, penny stocks and shells, as well as distressed, delinquent, and dark

companies not willing or able to provide adequate information to investors.

act as a case reference for our clients, as we originally had our shares quoted in the OTC markets and subsequently “uplisted”

to The Nasdaq Stock Market LLC., a U.S.

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and other corporate matters.

Our plan is to bundle our Cross-Border Business Solution services with our cloud accounting solutions

and Accounting Outsourcing Services described below.

Our plan is to bundle our Cross-Border Business Solution services with our cloud accounting solutions and

Accounting Outsourcing Services described below.

Outsourcing Services

intend to develop relationships with professional firms from Hong Kong, Malaysia, China and Thailand that can provide company

secretarial, business centers and virtual offices, book-keeping, tax compliance and planning, payroll management, business valuation,

and wealth management services to our clients.

We intend to include local accounting firms within this network to provide general

accounting, financial evaluation and advisory services to our clients.

Our expectation is that firms within our professional network

will refer their international clients to us that may need our book-keeping, payroll, company secretarial and tax compliance services.

We believe that this accounting outsourcing service arrangement will be beneficial to our clients by providing a convenient, one-stop

firm for their local and international business and financial compliance and governance needs.

intend to develop relationships with professional firms from Hong Kong, Malaysia, China and Thailand that can provide company secretarial,

business centers and virtual offices, book-keeping, tax compliance and planning, payroll management, business valuation, and wealth management

services to our clients.

We intend to include local accounting firms within this network to provide general accounting, financial evaluation

and advisory services to our clients.

Our expectation is that firms within our professional network will refer their international clients

to us that may need our book-keeping, payroll, company secretarial and tax compliance services.

We believe that this accounting outsourcing

service arrangement will be beneficial to our clients by providing a convenient, one-stop firm for their local and international business

and financial compliance and governance needs.

Service Rates

intend to have a two-tiered rate system based upon the type of services being offered.

We may impose project-based fees, where

we charge 10% -25% of the revenues generated by the client on projects that are completed using our services, such as transaction

projects, contract compliance projects, and business planning projects.

We may also charge a flat rate fee or fixed fee based

on the estimated complexity and timing of a project when our professionals provide specified expertise to our clients on a project.

For example, for our Cross-Border Business Solutions services, we plan to charge our client a monthly fixed fee.

We may impose project-based fees, where we charge

10% - 25% of the revenues generated by the client on projects that are completed using our services, such as transaction projects, contract

compliance projects, and business planning projects.

We may also charge a flat rate fee or fixed fee based on the estimated complexity

and timing of a project when our professionals provide specified expertise to our clients on a project.

For example, for our Cross-Border

Business Solutions services, we plan to charge our client a monthly fixed fee.

Venture Capital Business Segment

Capital Investment

a result of our acquisition of Greenpro Venture Capital Limited (“GVCL”) in 2015, we entered the venture capital business

in Hong Kong with a focus on companies located in South-East Asia and East Asia, including Hong Kong, Malaysia, China, Thailand

and Singapore.

Our venture capital business is focused on (1) establishing a business incubator for start-up and high growth companies

to support such companies during critical growth periods and (2) investment opportunities in select start-up and high growth companies.

believe that a company’s life cycle can be divided into five stages, including the seed stage, start-up stage, expansion

stage, mature stage and decline stage.

We anticipate that most of a company’s funding needs will occur during these first

three stages.

a result of our acquisition of Greenpro Venture Capital Limited (“GVCL”) in 2015, we entered the venture capital business

in Hong Kong with a focus on companies located in South-East Asia and East Asia, including Hong Kong, Malaysia, China, Thailand and Singapore.

Our venture capital business is focused on (1) establishing a business incubator for start-up and high growth companies to support such

companies during critical growth periods and (2) investment opportunities in select start-ups and high growth companies.

believe that a company’s life cycle can be divided into five stages, including the seed stage, start-up stage, expansion stage,

mature stage and decline stage.

We anticipate that most of a company’s funding needs will occur during these first three stages.

Financing is needed for assets, and research and development of an initial business concept.

The company usually has

relatively low costs in developing the business idea.

The company usually has relatively

low costs in developing the business idea.

The ownership model is considered and implemented.

Financing is needed for product development and initial marketing.

Firms in this phase may be in the process of setting

up a business or they might have been in operating the business for a short period of time but may not have sold their products

commercially.

Firms in this phase may be in the process of setting up

a business or they might have been in operating the business for a short period of time but may not have sold their products commercially.

In this phase, costs are increasing due to product development, market research and the need to recruit personnel.

Low levels of revenues are starting to generate.

Low levels of

revenues are starting to generate.

Financing is needed for growth and expansion.

Capital may be used to finance increased production capacity, product

or marketing development or to hire additional personnel.

In the early expansion phase, sales and production increases but

there is not yet any profit.

In the later expansion stage, the business typically needs extra capital in addition to organically

generated profit, for further development, marketing or product development.

intend for our business incubators to provide valuable support to young, emerging growth and potential high growth companies at

critical junctures of their development.

Capital may be used to finance increased production capacity, product or marketing

development or to hire additional personnel.

In the early expansion phase, sales and production increases but there is not yet any

In the later expansion stage, the business typically needs extra capital in addition to organically generated profit, for

further development, marketing or product development.

intend for our business incubators to provide valuable support to young, emerging growth and potential high growth companies at critical

junctures of their development.

For example, our incubators will offer office space at a below market rental rate.

will also provide our expertise, business contacts, introductions and other resources to assist their development and growth.

Depending on each individual circumstance, we may also take an active advisory role in our venture capital companies including

board representation, strategic marketing, corporate governance, and capital structuring.

We believe that there will be potential

investment opportunities for us in these start-up companies.

We will also provide

our expertise, business contacts, introductions and other resources to assist their development and growth.

Depending on each individual

circumstance, we may also take an active advisory role in our venture capital companies including board representation, strategic marketing,

corporate governance, and capital structuring.

We believe that there will be potential investment opportunities for us in these start-up

business processes for our investment strategy in select start-up and high growth companies are as follows:

Generating Deal Flow:

We expect to actively search for entrepreneurial firms and to generate deal flow through our business

incubator and the personal contacts of our executive team.

We expect to actively search for entrepreneurial firms and to generate deal flow through our business incubator

and the personal contacts of our executive team.

We also anticipate that entrepreneurs will approach us for financing.

Investment Decision:

We will evaluate, examine and engage in due diligence of a prospective portfolio company, including

but not limited to product/services viability, market potential and integrity as well as capability of the management.

that, both parties arrive at an agreed value for the deal.

Following that is a process of negotiation, which if successful,

ends with capital transformation and restructuring.

We will evaluate, examine and engage in due diligence of a prospective portfolio company, including but not

limited to product/services viability, market potential and integrity as well as capability of the management.

After that, both parties

arrive at an agreed value for the deal.

Following that is a process of negotiation, which if successful, ends with capital transformation

and restructuring.

Business Development and Value Adding:

In addition to capital contribution, we expect to provide expertise, knowledge and

relevant business contacts to the company.

In addition to capital contribution, we expect to provide expertise, knowledge and relevant

business contacts to the company.

There are several ways to exit an investment in a company.

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(Initial Public Offering):

The company’s shares are offered in a public sale on an established securities market.

sale (Acquisition):

The entire company is sold to another company.

The company’s firm sells only part of its shares.

Either the entrepreneur or the management of the company buys back the company’s shares of the firm.

The company’s firm sells only part of its shares.

Either the entrepreneur or the management of the company buys back the company’s shares of the firm.

Reconstruction,

liquidation or bankruptcy:

If the project fails, the company will restructure or close down the operations.

If the project fails, the company will restructure or close down its operations.

objective is to achieve a superior rate of return through the eventual and timely disposal of investments.

We expect to look for

businesses that meet the following criteria:

We expect to look for businesses

that meet the following criteria:

growth prospects

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Venture Capital Related Education and Support Services.

addition to providing venture capital services through GVCL, we also provide educational and support services that we believe

will be synergistic with our venture capital business.

We have arranged seminars called the CEO & Business Owners Strategic

Session (“CBOSS”) in Malaysia and Singapore for business owners who are interested in the following:

addition to providing venture capital services through GVCL, we also provide educational and support services that we believe will be

synergistic with our venture capital business.

We have arranged seminars called the CEO & Business Owners Strategic Session (“CBOSS”)

in Malaysia and Singapore for business owners who are interested in the following:

their business globally;

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increasing company cash flows.

objective of the CBOSS seminar is to educate the chief executive officers or business owners on how to acquire “smart capital”

and the considerations involved.

The seminar includes an introduction to the basic concepts of “smart capital,”

“wealth

and value creation,”

recommendation and planning and similar topics.

The seminar includes an introduction to the basic concepts of “smart capital,” “wealth

and value creation,” recommendation and planning and similar topics.

We believe that this seminar will synergistically support

our venture capital business segment.

Service Centers Expansion

expansion strategy is to establish service centers in Northern and Southwest China, as well as the Greater Bay Area in Guangdong

Province (the Chinese government’s plan to link the cities of Hong Kong, Macau, Guangzhou, Shenzhen, Zhuhai, Dongguan, Foshan,

Zhongshan, Jiangmen, Zhaoqing and Huizhou (i.e.

“2+9”) into an integrated economic and business hub).

will cater to customers’

needs by providing and delivering professional, high quality service and assistance before, during,

and after the customer’s requirements are met.

The expansion plan in each city would be based on various factors, such as

business opportunities, office property availability and job market conditions.

We also intend to cooperate with different business

partners, utilizing their networks and resources in the target markets, to establish additional business opportunities.

and Marketing

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leadership, market segmentation and sales management process development.

Greenpro’s marketing efforts will focus on building the image of our extensive expertise and knowledge

of our professionals.

We intend to conduct a marketing campaign through media visibility, seminars, webinars, and the creation

of a wide variety of white papers, newsletters, books, and other information.

Greenpro’s marketing efforts will focus on building the image of our extensive expertise and knowledge of

our professionals.

We intend to conduct a marketing campaign through media visibility, seminars, webinars, and the creation of a

wide variety of white papers, newsletters, books, and other information.

segmentation:

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target those industries and areas where Greenpro has particularly deep experience and capabilities.

These efforts typically

involve local, regional or national trade show and event sponsorships, targeted direct mail, email, and telemarketing campaigns,

and practice and industry specific micro-sites and newsletters in the Asian region.

We plan to begin a social media campaign utilizing blogs, Twitter, Facebook and LinkedIn after we secure sufficient

These efforts typically involve

local, regional or national trade show and event sponsorships, targeted direct mail, email, and telemarketing campaigns, and practice

and industry specific micro-sites and newsletters in the Asian region.

We plan to begin a social media campaign utilizing blogs, Twitter, Facebook and LinkedIn after we secure sufficient financing.

A targeted campaign will be made to the following groups of clients:

law firms, auditing firms, consulting firms

and small to medium-size enterprises in different industries, including biotechnology, intellectual property, information

technologies and real estate.

law firms, auditing firms, consulting firms and small to medium-sized

enterprises (“SMEs”) in different industries, including biotechnology, intellectual property, information technologies and

Wealth Wisdom Development

Wealth Wisdom Development (“WWW”) is our marketing and promotional campaign, which is focused on building long-term

awareness of our brand.

Wealth Wisdom Development (“WWW”) is our marketing and promotional campaign, which is focused on building long-term awareness

of our brand.

WWW targets the following markets (i) business owners and senior management;

(ii) high and medium net

worth individuals in China and (iii) financial services providers, such as Certified Financial Planners in China.

involves sharing content, knowledge and information about wealth management, including wealth creation, wealth protection and

wealth succession.

(ii) high and medium net worth individuals

in China and (iii) financial services providers, such as Certified Financial Planners in China.

The campaign involves sharing content,

knowledge and information about wealth management, including wealth creation, wealth protection and wealth succession.

objectives of WWW are:

increase public awareness and recognition of Greenpro as a well-known advocate

of the wealth principles described above;

increase public awareness and recognition of Greenpro as a well-known advocate of the wealth principles described above;

our philosophy to gain recognition so that our clients are confident and comfortable with our services and trust us;

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by online marketing (social media) and promotional events.

Future event invitations and monthly/quarterly newsletters will be

sent to the email database in order to boost event participation and provide updates on Company development.

Future event invitations and monthly/quarterly newsletters will be sent to

the email database to boost event participation and provide updates on Company development.

PR and News Releases

post event information will be sent to news and media platforms as part of our publicity effort to increase public awareness about

our events and developments, and to encourage more participants to join our upcoming events.

We will also share our analysis on

various industries and industry trends to the media network providers for free.

We believe that this strategy will strengthen

the relationship between Greenpro and the media network providers.

post event information will be sent to news and media platforms as part of our publicity effort to increase public awareness about our

events and developments, and to encourage more participants to join our upcoming events.

We will also share our analysis on various industries

and industry trends to the media network providers for free.

We believe that this strategy will strengthen the relationship between Greenpro

and the media network providers.

generate more leads and subscribers, two to four articles related to wealth management will be shared in our official WeChat account.

These articles are tools we use to share content online, through social media platforms such as WeChat, Jinri Toutiao and Facebook,

which increases our online presence.

These articles are tools we use to share content online, through social media platforms such as WeChat, Jinri Toutiao and Facebook, which

increases our online presence.

Search Engine Optimization

Search Engine Optimization (“SEO”) will be used as a supporting strategy to enhance our online presence campaign.

We will seek a

SEO expert team in China and Malaysia to assist in the promotion of the campaign by using an advertising and keyword tagging strategy

to drive traffic to our social media accounts and our company website.

We will seek a SEO expert team in China and Malaysia to assist in the promotion of the campaign by using an advertising and keyword tagging

strategy to drive traffic to our social media accounts and our company website.

The major search engines are Baidu and Google as these

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and conferences will be held once a month to deliver and educate the attendees on wealth management.

We target between 80 and

100 attendees each time.

We intend to invite professionals and strategic partners to share their ideas, resources and knowhow

in the seminars and conferences.

The seminars and conferences will focus on our three core wealth management principles, namely

“Wealth Creation, Wealth Protection and Wealth Succession”.

We target between 80 and 100 attendees

We intend to invite professionals and strategic partners to share their ideas, resources and knowhow in the seminars and conferences.

The seminars and conferences will focus on our three core wealth management principles, namely “Wealth Creation, Wealth Protection

and Wealth Succession”.

Events by Invitation

and exclusive events are planned to be held quarterly with a target between 30 and 40 attendees.

These events are exclusive and

by-invitation only, at which we will share insights into our services and explain to attendees how they can proceed with wealth

management planning.

These events are exclusive and by-invitation

only, at which we will share insights into our services and explain to attendees how they can proceed with wealth management planning.

Group Meet Ups and Networking

Group Meet Ups will be held twice a month targeting the public with an estimated five to ten attendees per session.

The objective

of these sessions is to encourage idea exchanges, to provide a platform for networking and potentially future collaboration opportunities,

The objective of

these sessions is to encourage idea exchanges, to provide a platform for networking and potentially future collaboration opportunities,

and foster better understanding between the participants and us, as well as among themselves.

Opportunities

believe the main drivers for the growth of our business are the products and services together with the resources such as an office

network, professional staff members and operational tools to make the advisory and consulting business more competitive.

intend to assist our clients in the preparation of their financial statements cost-effectively and provide security to

such financial information since the data will be stored in a cloud system.

We anticipate a market with growing needs

We believe that there is currently an increasing need for enterprises in different industries to maximize their performance

with cost-effective methods.

We believe our services will create numerous competitive advantages for our clients.

We believe that

with us handling the administrative and logistic support, our clients can focus on developing their businesses and expanding their

own client portfolio.

believe the main drivers for the growth of our business are the products and services together with the resources such as an office network,

professional staff members and operational tools to make the advisory and consulting business more competitive.

intend to assist our clients in the preparation of their financial statements cost-effectively and provide security to such financial

information since the data will be stored in a cloud system.

We anticipate a market with growing needs in Asia.

We believe that there

is currently an increasing need for enterprises in different industries to maximize their performance with cost-effective methods.

believe our services will create numerous competitive advantages for our clients.

We believe that with us handling the administrative

and logistic support, our clients can focus on developing their businesses and expanding their own client portfolio.

revenues are generated from clients located globally, including those from Hong Kong, China, Malaysia, Singapore, Indonesia, Thailand,

Australia, Japan, Taiwan, Russia and the United States.

Our venture capital business will initially focus on Hong Kong and other

Asian start-ups and high growth companies.

We hope to generate deal flow through personal contacts of our management team as well

as through our business incubator.

Our venture capital business will initially focus on Hong Kong and other Asian

start-ups and high growth companies.

We hope to generate deal flow through personal contacts of our management team as well as through

our business incubator.

generated revenues of $2,949,780 during the fiscal year ended December 31, 2021 and $2,254,811 during the fiscal year ended December

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We consider our focus to be on a niche market of small and medium-sized businesses.

Competition in the general field of business advisory services is quite intense, particularly in Hong Kong.

We face competition

principally from established law firms and consulting service providers in the corporate finance industry, such as Marbury, King

& Wood Mallesons, QMIS Financial Group, First Asia Finance Group Limited and their respective affiliates, as well as from

certain accounting firms, including those that specialize in a tax planning and corporate restructuring.

The competition in China

and Malaysia is not as fierce as in Hong Kong.

Our major competitors in China are JP Investment Group and QMIS Financial Group

while our major competitors in Malaysia are Global Bridge Management Sdn.

in the general field of business advisory services is quite intense, particularly in Hong Kong.

We face competition principally from

established law firms and consulting service providers in the corporate finance industry, such as Marbury, King & Wood Mallesons,

QMIS Financial Group, First Asia Finance Group Limited and their respective affiliates, as well as from certain accounting firms, including

those that specialize in a tax planning and corporate restructuring.

The competition in China and Malaysia is not as fierce as in Hong

Our major competitors in China are JP Investment Group and QMIS Financial Group while our major competitors in Malaysia are Global

Bridge Management Sdn.

and QMIS Financial Group.

These competitors generate

significant traffic and have established brand recognition and financial resources.

New or existing competition that uses a business

model that is different from our business model may pressure us to change so that we can remain competitive.

These competitors generate significant traffic and have established brand recognition

and financial resources.

New or existing competition that uses a business model that is different from our business model may pressure

us to change so that we can remain competitive.

believe that the principal competitive factors in our market include quality of analysis;

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ability to meet the changing needs of current and prospective clients;

By utilizing our competitive strengths, we believe that we have a competitive edge over other competitors due to the breadth

of our service offerings, one stop convenience, pricing, marketing expertise, coverage network, service levels, track record,

brand and reputation.

By utilizing our competitive strengths, we believe that we have a competitive edge over other competitors due to the breadth of

our service offerings, one stop convenience, pricing, marketing expertise, coverage network, service levels, track record, brand and

We are confident we can retain and enlarge our market share.

intend to protect our investment in the research and development of our products and technologies.

We intend to seek the widest

possible protection for significant product and process developments in our major markets through a combination of trade secrets,

trademarks, copyrights and patents, if applicable.

We anticipate that the form of protection will vary depending upon the level

of protection afforded by a particular jurisdiction.

Currently, our revenue is derived principally from our operations in Hong

Kong, China and Malaysia, 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 intellectual property.

We intend to seek the widest possible

protection for significant product and process developments in our major markets through a combination of trade secrets, trademarks,

copyrights and patents, if applicable.

We anticipate that the form of protection will vary depending upon the level of protection afforded

by a particular jurisdiction.

Currently, our revenue is derived principally from our operations in Hong Kong, China and Malaysia, 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 intellectual property.

have registered trademarks as a means of protecting the brand names of our companies and products.

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against infringement, and also seek to register design protection where appropriate.

Currently, there are six trademarks registered

under the name of Greenpro Resources (HK) Limited.

Currently, there are six trademarks registered under

the name of Greenpro Resources (HK) Limited.

Resources (HK)

11, 2010, June 25, 2013 and December 3, 2014

Advertising, business management, business administration,

office functions, research services, education, training

Business administration services, Business assistance,

management and information services, Business knowledge management and consulting services

Advertising, business management, business administration,

office functions and research services

Advisory services related to business management

and administration, computer software and security

Advertising, business management, business administration, office functions, research services, education, training

Business administration services, Business assistance, management and information services, Business knowledge management and

consulting services

Advertising, business management, business administration, office functions and research services

Advisory services related to business management and administration, computer software and security

rely on trade secrets and un-patentable know-how that we seek to protect, in part, by confidentiality agreements.

Our policy is

to require all employees to execute confidentiality agreements upon the commencement of employment with us.

These agreements provide

that all confidential information developed or made known to the individual through individual’s relationship with us, to

be kept confidential and do not disclose to third parties except in specific circumstances.

The agreements 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

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.

provide our Package Solution initially in Hong Kong, China and Malaysia, which we believe are locations that would need outsourcing

support services.

Further, we believe these markets are the central and regional markets for many customers doing cross border

business in Asia.

We target those customers from Asia doing international business and plan to provide our Package Solution to

meet their needs.

Our planned Package Solution will be structured in Hong Kong, but services may be outsourced to lower cost jurisdictions

such as Malaysia and China, which encourage and welcome outsourcing services.

Our policy is to require

all employees to execute confidentiality agreements upon the commencement of employment with us.

These agreements provide that all confidential

information developed or made known to the individual through individual’s relationship with us, to be kept confidential and do

not disclose to third parties except in specific circumstances.

The agreements 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.

provide our Package Solution initially in Hong Kong, China and Malaysia, which we believe are locations that would need outsourcing support

Further, we believe these markets are the central and regional markets for many customers doing cross border business in Asia.

We target those customers from Asia doing international business and plan to provide our Package Solution to meet their needs.

Package Solution will be structured in Hong Kong, but services may be outsourced to lower cost jurisdictions such as Malaysia and China,

which encourage and welcome outsourcing services.

following regulations are the laws and regulations that may be applicable to us:

businesses located in Hong Kong are subject to the general laws in Hong Kong governing businesses, including labor, occupational

safety and health, general corporations, intellectual property and other similar laws.

Because our website is maintained through

the server in Hong Kong, we expect that we will be required to comply with the rules and regulations and Hong Kong governing the

data usage and regular terms of service applicable to our potential customers.

As the information of our potential customers is

preserved in Hong Kong, we will need to comply with the Hong Kong Personal Data (Privacy) Ordinance (Cap 486).

businesses located in Hong Kong are subject to the general laws in Hong Kong governing businesses, including labor, occupational safety

and health, general corporations, intellectual property and other similar laws.

Because our website is maintained through the server

in Hong Kong, we expect that we will be required to comply with the rules and regulations and Hong Kong governing the data usage and

regular terms of service applicable to our potential customers.

As the information of our potential customers is preserved in Hong Kong,

we will need to comply with the Hong Kong Personal Data (Privacy) Ordinance (Cap 486).

Employment Ordinance is the main piece of legislation governing conditions of employment in Hong Kong.

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.

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 and Protection against Anti-Union Discrimination.

employer must also comply with all legal obligations under the Mandatory Provident Fund Schemes Ordinance, (Cap 485).

These include

enrolling all qualifying employees in Mandatory Provident Fund (“MPF”) schemes and making MPF contributions for them.

Except for exempt persons, employers 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.

These include enrolling

all qualifying employees in Mandatory Provident Fund (“MPF”) schemes and making MPF contributions for them.

Except for exempt

persons, employers 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

are required to make MPF contributions for our Hong Kong employees once every contribution period (generally the wage period).

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.

comply with the above applicable ordinances and regulations in Hong Kong and have not been involved any lawsuit or prosecuted

by the local authority resulting from any breach of the ordinances and regulations.

businesses located in Malaysia are subject to the general laws in Malaysia governing businesses including labor, occupational

safety and health, general corporations, intellectual property and other similar laws including the Computer Crime Act 1997 and

We believe that the focus of these laws is censorship in Malaysia, however we believe this

does not impact our businesses because the censorship focus is on media controls and does not relate to cloud base technology

which we plan to use.

real estate investments are subject to extensive local, city, county and state rules and regulations regarding permitting, zoning,

subdivision, utilities and water quality as well as federal rules and regulations regarding air and water quality and protection

of endangered species and their habitats.

Such regulation may result in higher than anticipated administrative and operational

comply with the above applicable ordinances and regulations in Malaysia and have not involved any lawsuit or prosecuted by the

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.

comply with the above applicable ordinances and regulations in Hong Kong and have not been involved any lawsuit or prosecuted by the

local authority resulting from any breach of the ordinances and regulations.

portion of our acquired businesses located in China and subject to the general laws in China governing businesses including labor,

occupational safety and health, general corporations, intellectual property and other similar laws.

Employment Contract Law was promulgated by the National People’s Congress’

Standing Committee on June 29, 2007 and

took effect on January 1, 2008.

The Employment Contract Law governs labor relations and employment contracts (including the entry

into, performance, amendment, termination and determination of employment contracts) between domestic enterprises (including foreign-invested

companies), individual economic organizations and private non-enterprise units (collectively referred to as the “employers”)

and their employees.

businesses located in Malaysia are subject to the general laws in Malaysia governing businesses including labor, occupational safety

and health, general corporations, intellectual property and other similar laws including the Computer Crime Act 1997 and The Copyright

(Amendment) Act 1997.

We believe that the focus of these laws is censorship in Malaysia, however we believe this does not impact our

businesses because the censorship focus is on media controls and does not relate to cloud base technology which we plan to use.

real estate investments are subject to extensive local, city, county and state rules and regulations regarding permitting, zoning, subdivision,

utilities and water quality as well as federal rules and regulations regarding air and water quality and protection of endangered species

and their habitats.

Such regulation may result in higher than anticipated administrative and operational costs.

comply with the above applicable ordinances and regulations in Malaysia and have not involved any lawsuit or prosecuted by the local

authority resulting from any breach of the ordinances and regulations.

portion of our acquired businesses located in China and subject to the general laws in China governing businesses including labor, occupational

safety and health, general corporations, intellectual property and other similar laws.

Employment Contract Law was promulgated by the National People’s Congress’ Standing Committee on June 29, 2007 and took effect

on January 1, 2008.

The Employment Contract Law governs labor relations and employment contracts (including the entry into, performance,

amendment, termination and determination of employment contracts) between domestic enterprises (including foreign-invested companies),

individual economic organizations and private non-enterprise units (collectively referred to as the “employers”) and their

Execution of employment contracts

the Employment Contract Law, an employer is required to execute written employment contracts with its employees within one month

from the commencement of employment.

In the event of contravention, an employee is entitled to receive double salary for the period

during which the employer fails to execute an employment contract.

If an employer fails to execute an employment contract for

more than 12 months from the commencement of the employee’s employment, an employment contract would be deemed to have been

entered into between the employer and employee for a non-fixed term.

the Employment Contract Law, an employer is required to execute written employment contracts with its employees within one month from

the commencement of employment.

In the event of contravention, an employee is entitled to receive double salary for the period during

which the employer fails to execute an employment contract.

If an employer fails to execute an employment contract for more than 12 months

from the commencement of the employee’s employment, an employment contract would be deemed to have been entered into between the

employer and employee for a non-fixed term.

Right to non-fixed term contracts

the Employment Contract Law, an employee may request a non-fixed term contract without an employer’s consent to renew.

addition, an employee is also entitled to a non-fixed term contract with an employer if he has completed two fixed term employment

contracts with such employer;

however, such employee must not have committed any breach or have been subject to any disciplinary

actions during his employment.

Unless the employee requests to enter into a fixed term contract, an employer who fails to enter

into a non-fixed term contract pursuant to the Employment Contract Law is liable to pay the employee double salary from the date

the employment contract is renewed.

the Employment Contract Law, an employee may request a non-fixed term contract without an employer’s consent to renew.

an employee is also entitled to a non-fixed term contract with an employer if he has completed two fixed term employment contracts with

such employer;

however, such employee must not have committed any breach or have been subject to any disciplinary actions during his

Unless the employee requests to enter into a fixed term contract, an employer who fails to enter into a non-fixed term contract

pursuant to the Employment Contract Law is liable to pay the employee double salary from the date the employment contract is renewed.

Compensation for termination or expiry of employment contracts

the Employment Contract Law, employees are entitled to compensation upon the termination or expiry of an employment contract.

Employees are entitled to compensation even in the event the employer (i) has been declared bankrupt;

(ii) has its business license

(iii) has been ordered to cease or withdraw its business;

are entitled to compensation even in the event the employer (i) has been declared bankrupt;

(ii) has its business license revoked;

has been ordered to cease or withdraw its business;

or (iv) has been voluntarily liquidated.

Where an employee

has been employed for more than one year, the employee will be entitled to such compensation equivalent to one month’s salary

for every completed year of service.

Where an employee has been employed for less than one year, such employee will be deemed

to have completed one full year of service.

Where an employee has been employed for

more than one year, the employee will be entitled to such compensation equivalent to one month’s salary for every completed year

Where an employee has been employed for less than one year, such employee will be deemed to have completed one full year

Trade union and collective employment contracts

the Employment Contract Law, a trade union may seek arbitration and litigation to resolve any dispute arising from a collective

employment contract provided that such dispute failed to be settled through negotiations.

The Employment Contract Law also permits

a trade union to enter into a collective employee contract with an employer on behalf of all the employees.

a trade union has not been formed, a representative appointed under the recommendation of a high-level trade union may execute

the collective employment contract.

Within districts below county level, collective employment contracts for industries such as

those engaged in construction, mining, food and beverage and those from the service sector, etc., may be executed on behalf of

employees by the representatives from the trade union of each respective industry.

Alternatively, a district-based collective

employment contract may be made.

the Employment Contract Law, a trade union may seek arbitration and litigation to resolve any dispute arising from a collective employment

contract provided that such dispute failed to be settled through negotiations.

The Employment Contract Law also permits a trade union

to enter into a collective employee contract with an employer on behalf of all the employees.

a trade union has not been formed, a representative appointed under the recommendation of a high-level trade union may execute the collective

employment contract.

Within districts below county level, collective employment contracts for industries such as those engaged in construction,

mining, food and beverage and those from the service sector, etc., may be executed on behalf of employees by the representatives from

the trade union of each respective industry.

Alternatively, a district-based collective employment contract may be made.

a result of the Employment Contract Law, all our employees have executed standard written employment agreements with us.

not experienced any significant labor disputes or any difficulties in recruiting staff for our operations.

October 28, 2010, the National People’s Congress of China promulgated the PRC Social Insurance Law, which became effective

on July 1, 2011.

In accordance with the PRC Social Insurance Law, the Interim Regulations on the Collection and Payment of Social

Security Fund and other relevant laws and regulations, China establishes a social insurance system including basic pension insurance,

basic medical insurance, work-related injury insurance, unemployment insurance and maternity insurance.

An employer shall pay

the social insurance for its employees in accordance with the rates provided under relevant regulations and shall withhold the

social insurance that should be assumed by the employees.

The authorities in charge of social insurance may request an employer’s

compliance and impose sanctions if such employer fails to pay and withhold social insurance in a timely manner.

Under the Regulations

on the Administration of Housing Fund effective in 1999, as amended in 2002, PRC companies must register with applicable housing

fund management centers and establish a special housing fund account in an entrusted bank.

Both PRC companies and their employees

are required to contribute to the housing funds.

experienced any significant labor disputes or any difficulties in recruiting staff for our operations.

October 28, 2010, the National People’s Congress of China promulgated the PRC Social Insurance Law, which became effective on July

In accordance with the PRC Social Insurance Law, the Interim Regulations on the Collection and Payment of Social Security Fund

and other relevant laws and regulations, China establishes a social insurance system including basic pension insurance, basic medical

insurance, work-related injury insurance, unemployment insurance and maternity insurance.

An employer shall pay the social insurance

for its employees in accordance with the rates provided under relevant regulations and shall withhold the social insurance that should

be assumed by the employees.

The authorities in charge of social insurance may request an employer’s compliance and impose sanctions

if such employer fails to pay and withhold social insurance in a timely manner.

Under the Regulations on the Administration of Housing

Fund effective in 1999, as amended in 2002, PRC companies must register with applicable housing fund management centers and establish

a special housing fund account in an entrusted bank.

Both PRC companies and their employees are required to contribute to the housing

Ministry of Human Resources and Social Security promulgated the Interim Provisions on Labor Dispatch on January 24, 2014.

Interim Provisions on Labor Dispatch, which became effective on March 1, 2014, sets forth that labor dispatch should only be applicable

to temporary, auxiliary or substitute positions.

Temporary positions shall mean positions subsisting for no more than six months,

auxiliary positions shall mean positions of non-major business that serve positions of major businesses, and substitute positions

shall mean positions that can be held by substitute employees for a certain period of time during which the employees who originally

hold such positions are unable to work as a result of full-time study, being on leave or other reasons.

The Interim Provisions

further provides that, the number of the dispatched workers of an employer shall not exceed 10% of its total workforce, and the

total workforce of an employer shall refer to the sum of the number of the workers who have executed labor contracts with the

employer and the number of workers who are dispatched to the employer.

Provisions on Labor Dispatch, which became effective on March 1, 2014, sets forth that labor dispatch should only be applicable to temporary,

auxiliary or substitute positions.

Temporary positions shall mean positions subsisting for no more than six months, auxiliary positions

shall mean positions of non-major business that serve positions of major businesses, and substitute positions shall mean positions that

can be held by substitute employees for a certain period of time during which the employees who originally hold such positions are unable

to work as a result of full-time study, being on leave or other reasons.

The Interim Provisions further provides that, the number of

the dispatched workers of an employer shall not exceed 10% of its total workforce, and the total workforce of an employer shall refer

to the sum of the number of the workers who have executed labor contracts with the employer and the number of workers who are dispatched

to the employer.

Exchange Control and Administration

2 unchanged sentences

Administration Rules of the Settlement, Sale and Payment of Foreign Exchange (1996), or the Administration Rules.

the Foreign Currency Administration Rules, if documents certifying the purposes of the conversion of RMB into foreign currency

are submitted to the relevant foreign exchange conversion bank, the RMB will be convertible for current account items, including

the distribution of dividends, interest and royalty payments, and trade and service-related foreign exchange transactions.

of RMB for capital account items, such as direct investment, loans, securities investment and repatriation of investment, however,

is subject to the approval of SAFE or its local counterpart.

the Administration Rules for the Settlement, Sale and Payment of Foreign Exchange, foreign-invested enterprises may only buy,

sell and/or remit foreign currencies at banks authorized to conduct foreign exchange business after providing valid commercial

documents and, in the case of capital account item transactions, obtaining approval from SAFE or its local counterpart.

an offshore holding company with a PRC subsidiary, we may (i) make additional capital contributions to our PRC subsidiaries, (ii)

establish new PRC subsidiaries and make capital contributions to these new PRC subsidiaries, (iii) make loans to our PRC subsidiaries

or consolidated affiliated entities, or (iv) acquire offshore entities with business operations in China in offshore transactions.

However, most of these uses are subject to PRC regulations and approvals.

contributions to our PRC subsidiaries, whether existing or newly established ones, must be approved by the Ministry of Commerce

or its local counterparts;

the Foreign Currency Administration Rules, if documents certifying the purposes of the conversion of RMB into foreign currency are submitted

to the relevant foreign exchange conversion bank, the RMB will be convertible for current account items, including the distribution of

dividends, interest and royalty payments, and trade and service-related foreign exchange transactions.

Conversion of RMB for capital

account items, such as direct investment, loans, securities investment and repatriation of investment, however, is subject to the approval

of SAFE or its local counterpart.

the Administration Rules for the Settlement, Sale and Payment of Foreign Exchange, foreign-invested enterprises may only buy, sell and/or

remit foreign currencies at banks authorized to conduct foreign exchange business after providing valid commercial documents and, in

the case of capital account item transactions, obtaining approval from SAFE or its local counterpart.

an offshore holding company with a PRC subsidiary, we may (i) make additional capital contributions to our PRC subsidiaries, (ii) establish

new PRC subsidiaries and make capital contributions to these new PRC subsidiaries, (iii) make loans to our PRC subsidiaries or consolidated

affiliated entities, or (iv) acquire offshore entities with business operations in China in offshore transactions.

However, most of these

uses are subject to PRC regulations and approvals.

contributions to our PRC subsidiaries, whether existing or newly established ones, must be approved by the Ministry of Commerce or

its local counterparts;

by us to our PRC subsidiaries, each of which is a foreign-invested enterprise, to finance their activities cannot exceed statutory

limits and must be registered with SAFE or its local branches;

by us to our consolidated affiliated entities, which are domestic PRC entities, must be approved by the National Development

and Reform Commission and must also be registered with SAFE or its local branches.

August 29, 2008, SAFE promulgated the Circular on the Relevant Operating Issues concerning the Improvement of the Administration

of Payment and Settlement of Foreign Currency Capital of Foreign-invested Enterprises, or “Circular 142”.

30, 2015, SAFE issued the Circular of the State Administration of Foreign Exchange Concerning Reform of the Administrative Approaches

to Settlement of Foreign Exchange Capital of Foreign-invested Enterprises, or “Circular 19”, which became effective

on June 1, 2015, to regulate the conversion by foreign invested enterprises, or FIEs, of foreign currency into RMB by restricting

how the converted RMB may be used.

Circular 19 requires that RMB converted from the foreign currency-dominated capital of a FIE

shall be managed under the Accounts for FX settlement and pending payment.

The expenditure scope of such Accounts includes expenditure

within the business scope, payment of funds for domestic equity investment and RMB deposits, repayment of the RMB loans after

completed utilization and so forth.

A FIE shall truthfully use its capital by itself within the business scope and shall not,

directly or indirectly, use its capital or RMB converted from the foreign currency-dominated capital for (i) expenditure beyond

its business scope or expenditure prohibited by laws or regulations, (ii) disbursing RMB entrusted loans (unless permitted under

its business scope), repaying inter-corporate borrowings (including third-party advance) and repaying RMB bank loans already refinanced

to any third party.

Where a FIE, other than a foreign-invested investment company, foreign-invested venture capital enterprise

or foreign-invested equity investment enterprise, makes domestic equity investment by transferring its capital in the original

currency, it shall obey the current provisions on domestic re-investment.

Where such a FIE makes domestic equity investment by

its RMB conversion, the invested enterprise shall first go through domestic re-investment registration and open a corresponding

Accounts for FX settlement and pending payment, and the FIE shall thereafter transfer the conversion to the aforesaid Account

according to the actual amount of investment.

In addition, according to the Regulations of the People’s Republic of China

on Foreign Exchange Administration, which became effective on August 5, 2008, the use of foreign exchange or RMB conversion may

not be changed without authorization.

of the applicable circulars and rules may result in severe penalties, including substantial fines as set forth in the Foreign

Exchange Administration Regulations.

light of the various requirements imposed by PRC regulations on loans to and direct investment in PRC entities by offshore holding

companies, we cannot assure you that we will always be able to complete the necessary government registrations or obtain the necessary

government approvals on a timely basis, if at all, with respect to future loans to our PRC subsidiaries or future capital

contributions by us to our PRC subsidiaries.

If we fail to complete such registrations or obtain such approvals, our ability

to capitalize or otherwise fund our PRC operations may be negatively affected, which could materially and adversely affect our

liquidity and our ability to fund and expand our business.

we are in compliance with the above applicable ordinances and regulations in China and have not involved any lawsuit or prosecuted

by the local authority resulting from any breach of the ordinances and regulations.

by us to our consolidated affiliated entities, which are domestic PRC entities, must be approved by the National Development and

Reform Commission and must also be registered with SAFE or its local branches.

August 29, 2008, SAFE promulgated the Circular on the Relevant Operating Issues concerning the Improvement of the Administration of Payment

and Settlement of Foreign Currency Capital of Foreign-invested Enterprises, or “Circular 142”.

On March 30, 2015, SAFE issued

the Circular of the State Administration of Foreign Exchange Concerning Reform of the Administrative Approaches to Settlement of Foreign

Exchange Capital of Foreign-invested Enterprises, or “Circular 19”, which became effective on June 1, 2015, to regulate the

conversion by foreign invested enterprises, or FIEs, of foreign currency into RMB by restricting how the converted RMB may be used.

19 requires that RMB converted from the foreign currency-dominated capital of a FIE shall be managed under the Accounts for FX settlement

and pending payment.

The expenditure scope of such Accounts includes expenditure within the business scope, payment of funds for domestic

equity investment and RMB deposits, repayment of the RMB loans after completed utilization and so forth.

A FIE shall truthfully use its

capital by itself within the business scope and shall not, directly or indirectly, use its capital or RMB converted from the foreign

currency-dominated capital for (i) expenditure beyond its business scope or expenditure prohibited by laws or regulations, (ii) disbursing

RMB entrusted loans (unless permitted under its business scope), repaying inter-corporate borrowings (including third-party advance)

and repaying RMB bank loans already refinanced to any third party.

Where a FIE, other than a foreign-invested investment company, foreign-invested

venture capital enterprise or foreign-invested equity investment enterprise, makes domestic equity investment by transferring its capital

in the original currency, it shall obey the current provisions on domestic re-investment.

Where such a FIE makes domestic equity investment

by its RMB conversion, the invested enterprise shall first go through domestic re-investment registration and open a corresponding Accounts

for FX settlement and pending payment, and the FIE shall thereafter transfer the conversion to the aforesaid Account according to the

actual amount of investment.

In addition, according to the Regulations of the People’s Republic of China on Foreign Exchange Administration,

which became effective on August 5, 2008, the use of foreign exchange or RMB conversion may not be changed without authorization.

of the applicable circulars and rules may result in severe penalties, including substantial fines as set forth in the Foreign Exchange

Administration Regulations.

light of the various requirements imposed by PRC regulations on loans to and direct investment in PRC entities by offshore holding companies,

we cannot assure you that we will always be able to complete the necessary government registrations or obtain the necessary government

approvals on a timely basis, if at all, with respect to future loans to our PRC subsidiaries or future capital contributions by us to

our PRC subsidiaries.

If we fail to complete such registrations or obtain such approvals, our ability to capitalize or otherwise fund

our PRC operations may be negatively affected, which could materially and adversely affect our liquidity and our ability to fund and

expand our business.

we are in compliance with the above applicable ordinances and regulations in China and have not involved any lawsuit or prosecuted by

the local authority resulting from any breach of the ordinances and regulations.

do not current maintain property, business interruption and casualty insurance.

As our business matures, we expect to obtain such

insurance in accordance with customary industry practices in Malaysia, Hong Kong and China, as applicable.

As our business matures, we expect to obtain such insurance

in accordance with customary industry practices in Malaysia, Hong Kong and China, as applicable.

businesses are not subject to seasonality.

As of March 29,

2021, we have 60 employees, located in the following territories:

of March 29, 2022, we have 55 employees, located in the following territories:

Country/Territory

a result of the Employment Contract Law, all our employees in China have executed standard written employment agreements with

are required to contribute to the Employees Provident Fund under a defined contribution pension plan for all eligible employees

in Malaysia between the ages of eighteen and fifty-five.

We are required to contribute a specified percentage of the participant’s

income based on their ages and wage level.

The participants are entitled to all of our contributions together with accrued returns

regardless of their length of service with the Company.

For the years ended December 31, 2020 and 2019, the contributions

are $60,536 and $48,216, respectively.

a result of the Employment Contract Law, all our employees in China have executed standard written employment agreements with us.

are required to contribute to the Employees Provident Fund under a defined contribution pension plan for all eligible employees in Malaysia

between the ages of eighteen and fifty-five.

We are required to contribute a specified percentage of the participant’s income based

on their ages and wage level.

The participants are entitled to all of our contributions together with accrued returns regardless of their

length of service with the Company.

For the years ended December 31, 2021 and 2020, the contributions are $35,977 and $60,536, respectively.

are required to contribute to the MPF for all eligible employees in Hong Kong between the ages of eighteen and sixty-five.

are required to contribute a specified percentage of the participant’s income based on their ages and wage level.

years ended December 31, 2020 and 2019, the MPF contributions by the Company were $33,455 and $54,638, respectively.

experienced any significant labor disputes or any difficulties in recruiting staff for our operations.

We are required

to contribute a specified percentage of the participant’s income based on their ages and wage level.

For the years ended December

31, 2021 and 2020, the MPF contributions by the Company were $25,663 and $33,455, respectively.

We have not experienced any significant

labor disputes or any difficulties in recruiting staff for our operations.

are required to contribute to the Social Insurance Schemes and Housing Fund Schemes for all eligible employees in PRC.

years ended December 31, 2020 and 2019, the contributions were $17,854 and $34,460, respectively.

principal executive office is located at B-7-5, Northpoint Office, Mid Valley City, No.

1 Medan Syed Putra Utara, 59200 Kuala

Lumpur, Malaysia.

For the years

ended December 31, 2021 and 2020, the contributions were $44,603 and $17,854, respectively.

principal executive office is located at B-7-5, Northpoint, Mid Valley City, No.

1 Medan Syed Putra Utara, 59200 Kuala Lumpur, Malaysia.

Our principal telephone number is +60 3 2201 - 3192.

1 unchanged sentence

http://www.greenprocapital.com .

The information contained on our website is not, and should not be interpreted to be, a part of this Form 10-K.

The information contained

on our website is not, and should not be interpreted to be, a part of this Form 10-K.

We have regional offices

in Hong Kong and Shenzhen, China which principally serve their respective clients and provide support to the Company.

Development Plan

are in the process of carrying out the following development

are in the process of carrying out the following development plans.

of Corporate Finance Services:

plan to further expand our corporate finance services business.

Our corporate finance services include financial advisory services

relating to listings in the US capital markets (e.g., NASDAQ and OTC Markets) and listings in Hong Kong, mergers and acquisitions,

investment valuation, project management and other financial advisory services.

We intend to enhance our corporate finance business

in China, Hong Kong, Malaysia and Thailand, by engaging in more marketing activities and expanding our business network to these

is a next generation online financial information platform which facilitates connecting private high growth emerging companies

with access to potential investors and synergetic companies.

ADAQ is dedicated to equip emerging growth companies in the Asia

Pacific region with the guidance and information to identify, build and stream their sustainable core values.

In addition, it

offers an acceleration program to incubate and assist companies to accelerate the process by which they seek to list on international

exchanges such as New York Stock Exchange (“NYSE”), NASDAQ and Hong Kong Stock Exchange (“HKEX”).

Our corporate finance services include financial advisory services relating

to listings in the US capital markets (e.g., NASDAQ and OTC Markets) and listings in Hong Kong, mergers and acquisitions, investment

valuation, project management and other financial advisory services.

We intend to enhance our corporate finance business in China, Hong

Kong, Malaysia and Thailand, by engaging in more marketing activities and expanding our business network to these regions.

is a next generation online financial information platform which facilitates connecting private high growth emerging companies with access

to potential investors and synergetic companies.

ADAQ is dedicated to equip emerging growth companies in the Asia Pacific region with

the guidance and information to identify, build and stream their sustainable core values.

In addition, it offers an acceleration program

to incubate and assist companies to accelerate the process by which they seek to list on international exchanges such as New York Stock

Exchange (“NYSE”), NASDAQ and Hong Kong Stock Exchange (“HKEX”).

has three major functions:

2 unchanged sentences

Online Financial Information Market

intend to strengthen the development of ADAQ as an acceleration platform to assist high growth emerging companies in the ASEAN

regions covering Malaysia, Thailand, Singapore, Indonesia, Myanmar, Laos and Vietnam, and China to obtain funding and prepare

An increasing number of companies across South-East Asia and the Greater Bay Area are interested in listing on the

ADAQ market platform.

We believe the successful development of the platform will heighten the prospects of Greenpro’s venture

capital projects, aiming to achieve success and to widen market coverage to source for new potential projects.

intend to strengthen the development of ADAQ as an acceleration platform to assist high growth emerging companies in the ASEAN regions

covering Malaysia, Thailand, Singapore, Indonesia, Myanmar, Laos and Vietnam, and China to obtain funding and prepare for an IPO.

increasing number of companies across South-East Asia and the Greater Bay Area are interested in listing on the ADAQ market platform.

We believe the successful development of the platform will heighten the prospects of Greenpro’s venture capital projects, aiming

to achieve success and to widen market coverage to source for new potential projects.

Management Portfolio Development.

The increase in the number of high-net-worth individuals in the Asia Pacific Region has

created opportunities and needs for cross-border wealth management services.

Leveraging our competitive advantages with integrated

financial services and strategic offices, we look forward to enhancing our strategic development in wealth management, fund

management and asset management businesses.

We continue to look for partnerships to explore the potential of wealth management,

fund management and asset management services, and provide with the assistance from our affiliates customized wealth creation,

wealth protection and wealth succession solutions for medium, high and ultra-high net worth individuals/families in the Asian

We also expect to place more efforts into the development of our Wealth Network Database focusing on wealth related

information sharing.

our long-term plan and development, we look forward to initiating the “Greenpro Capital Tower”

plan in ASEAN

as an effort to further develop our brand, strengthen our operational and client base with stronger customers and market confidence.

We are currently in the planning stage to build a 20-storey building located in the Commercial Business District of Malaysia as

our ASEAN headquarters, enabling the market in the region to have better access to our services while also strengthening our market

In addition, we plan to continue to grow through mergers and acquisitions of related services to enhance our services

horizontally and vertically.

We are continuously sourcing synergetic and licensed financial institutions to strengthen our capabilities

and scope of our services with the aim to widen our market coverage.

The increase in the number of high-net-worth individuals in the Asia Pacific Region has created

opportunities and needs for cross-border wealth management services.

Leveraging our competitive advantages with integrated financial

services and strategic offices, we look forward to enhancing our strategic development in wealth management, fund management and

asset management businesses.

We continue to look for partnerships to explore the potential of wealth management, fund management

and asset management services, and provide with the assistance from our affiliates customized wealth creation, wealth protection

and wealth succession solutions for medium, high and ultra-high net worth individuals/families in the Asian region.

We also expect

to place more efforts into the development of our Wealth Network Database focusing on wealth related information sharing.

our long-term plan and development, we look forward to initiating the “Greenpro Capital Tower” plan in ASEAN as an effort

to further develop our brand, strengthen our operational and client base with stronger customers and market confidence.

we plan to continue to grow through mergers and acquisitions of related services to enhance our services horizontally and vertically.

We are continuously sourcing synergetic and licensed financial institutions to strengthen our capabilities and scope of our services

with the aim to widen our market coverage.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K/A

Item 1. Business