What changed in this filing

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Item 1. Business

2023-03-31 compared with 2022-03-29 · 330 added, 274 removed, 853 unchanged (41% of the section changed)

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:

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 group including all subsidiaries with a brief description of respective business is set forth below:

Capital Corp.

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Management Consultancy Limited (China)

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

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

Falcon Financial Consulting Limited (China)

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corporate advisory services such as company review, bank loan advisory and bank products analysis services.

Financial Consulting Limited (Belize)

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

New Finance Academy Limited (formerly known as Greenpro Synergy Network Limited) (Hong Kong)

a borderless platform through networking events and programs in Hong Kong.

Financial Consulting (Shenzhen) Limited

known as Greenpro Synergy Network (Shenzhen) Limited) (China)

corporate advisory services such as tax planning, cross-border listing solution and financial consulting for clients in China.

UBS Global Limited (Hong Kong)

business advisory services with a 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.

UBS Global Limited (Belize)

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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 review.

It focuses on Hong Kong clients.

Corporate Services Limited (Hong Kong)

3 unchanged sentences

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

Sparkle Insurance Brokers Limited (Hong Kong)

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

Family Office Limited (Hong Kong)

2 unchanged sentences

planning and management, and business support services.

Financial Consulting Limited (Belize)

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

Capital Village Sdn.

business consulting and advisory services in Malaysia.

licensed asset exchange operator under Labuan Financial Services Authority (LFSA), Malaysia.

Venture Capital Limited (Anguilla)

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investment in commercial real estate in Hong Kong.

New Finance Academy Limited (formerly known as Greenpro Synergy Network Limited) (Hong Kong)

a borderless platform through networking events and programs in Hong Kong.

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

and research.

Sparkle Insurance Brokers Limited (Hong Kong)

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

Capital Village Sdn.

business consulting and advisory services in Malaysia.

Incorporation

18 unchanged sentences

Resources Sdn.

Bhd., a Malaysian company

Bhd., a Malaysia company

April 25, 2013, Greenpro Resources Sdn.

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Management Consultancy Limited, a Shenzhen, China company

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

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

of Greenpro Resources Limited and its wholly owned subsidiaries through acquisitions

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

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

at 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

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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,

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

Lee and his spouse, Ms.

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

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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

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

Consulting (Shenzhen) Limited (formerly known as 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”)

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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.

July 28, 2017, Greenpro Financial Consulting (Shenzhen)

Limited (formerly known as Greenpro Synergy Network (Shenzhen) Limited) (“GFCSZ”),

a wholly owned subsidiary of GNFA, was incorporated in Shenzhen, China.

GFCSZ was initially engaged in provision of 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.

Currently, GFCSZ provides corporate advisory and financial consulting services to the clients

April 20, 2020, after our directors, Messrs.

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as a subsidiary of the Company.

Incorporation

of Green-X Corp., a Labuan, Malaysia company

June 22, 2022, Green-X Corp.

(“Green-X”) was founded and incorporated by our director, Mr.

Lee Chong Kuang (“Mr.

in Labuan, Malaysia.

and Reorganization of Subsidiaries

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

Lee and Loke each held a 44.6% interest

in the Company.

Lee and Loke each held a 44.6% interest in the

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.

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.

Lee and Loke received, in the aggregate, $25,500 in cash and 907,000 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

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.

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 GVCL, Mr.

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.

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.

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.

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 and Loke received, in the aggregate,

$6,000 in cash and 1,326,000 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

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connection therewith, we issued to Ms.

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

a transfer among entities under common control.

Yap, 184,200 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

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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.

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

Bhd., a Malaysia company

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

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from our director, Mr.

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

Loke was the sole shareholder of GFOL before the acquisition.

This acquisition was accounted for as

a transfer among entities under common control.

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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.

The shares were valued based on the closing price of the Company’s Common Stock of $48 per share at acquisition.

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:

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(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.

Bhd.), a Malaysia

February 25, 2013, Greenpro Financial Consulting Limited, a subsidiary of the Company, acquired 100% of Weld Asia Global Advisory Sdn.

Bhd., a Malaysia 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

At the time 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.

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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

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

in GCVSB to Ms.

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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 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 7,953 shares of the Company’s Common Stock valued at $69,191 or $8.7 per share.

Total consideration

of the acquisition was $69,231.

The Company’s reacquisition of GCVSB aimed to expand its business consulting services in Malaysia.

of subsidiaries

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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

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 3,852 shares of the Company’s

Common Stock valued at $288,930.

The Company also issued 58 shares of the Company’s Common Stock valued at $75 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.

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

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

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of other investments

Shareholdings

Name (Domicile)

Acquisition Date

Equity Interest

Greenpro Trust Limited

March 30, 2015

Provides trusteeship,

Provides trusteeship, custodial and fiduciary services.

April 13, 2016

and fiduciary services

Corporation (Nevada, US)

health and wellness products

Fine Art Inc.

(Wyoming, US)

in art (Millennium Sapphire)

Agape ATP Corporation (Nevada, USA)

April 14, 2017

Supplies health and wellness products.

Millennium Fine Art Inc.

(Wyoming, USA)

June 29, 2020

Invests in art (Millennium Sapphire).

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

Provides an online equity crowd funding platform to assist small to medium-sized enterprises (SMEs) to access funding through its platform.

Global Leaders Corporation (Nevada, USA)

August 30, 2020

Provides training and

consulting services

First Bullion Holdings

Provides training and consulting services.

First Bullion Holdings Inc.

October 19, 2020

Provides cryptocurrency

Provides crypto currency trading and digital asset exchange services.

(British Virgin Islands)

February 17, 2021

and digital asset exchange

New Business Media Sdn.

November 1, 2020

Provides a capital

market focused portal to

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.

Adventure Air Race Company Limited (Nevada, USA)

December 22, 2020

Provides big data and

artificial intelligence (AI) to provide

financial services

Organizes international air race series.

Angkasa-X Holdings Corp.

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February 3, 2021

Provides internet connectivity

to rural areas in Southeast Asia

Provides turnkey services, from strategic satellite anchor station solutions to fully deployable, integrated tactical platform solutions.

Simson Wellness Tech.

(Nevada, USA)

February 19, 2021

Provides a digital

platform that acts as middleware for distribution of optical products

Innovest Energy Fund (Cayman

Provides a digital platform that acts as middleware for distribution of optical products.

Innovest Energy Fund (Cayman Islands)

April 7, 2021

Develops a multi-faceted

suite of products and services for the cryptocurrency industry and economy

Develops a multi-faceted suite of products and services for the crypto currency 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

(Nevada, USA)

Operates a Malaysia-based m-commerce platform specializing in online grocery shopping via smartphones.

Ata Global Inc.

(Nevada, USA)

July 30, 2021

Provides financial

technology (FinTech) services

Provides financial technology (FinTech) services.

catTHIS Holdings Corp.

(Nevada, USA)

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)

September 27, 2021

Produces bio-degradable

packaging materials

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

ACT Wealth Academy Inc.

(Nevada, USA)

February 21, 2022

Provides trainings, seminars, events and academy in fields related, but not limited to, financial and wealth.

REBLOOD Biotech Corp.

(Nevada, USA)

April 1, 2022

Provides health management and biotechnology services.

Best2bid Technology Corp.

(Nevada, USA)

Provides an online bidding platform for the art and creative industry stakeholders.

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

March 30, 2015, our wholly owned subsidiary, Greenpro Resources Limited, a British Virgin Islands company (“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 $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.

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

Lee and Loke are

common directors of GTL and the Company.

of December 31, 2022, the net asset value (“NAV”) of GTL was $107,835 and according to the Company’s 11% interest in

GTL’s NAV, our investment was valued approximately $11,981.

Hence, the Company recorded an impairment loss of $39,632 for the year

ended December 31, 2022.

of December 31, 2022, our investment in GTL was revalued at $11,981.

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.

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.

April 14, 2017, our wholly-owned subsidiary, Greenpro Venture Capital Limited (“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 provision of 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.

January 21, 2022 , GVCL entered into a forfeiture agreement with Agape.

Pursuant to the agreement,

GVCL agreed to transfer 16,500,000 shares out of its total invested 17,500,000 shares of common stock of Agape to Agape for nil consideration.

As a result, GVCL holds approximately 1% of the total outstanding shares of Agape and recognized a loss on forfeiture of other investment

of December 31, 2022, GVCL owns 1,000,000 shares of common stock of Agape and recognized our investment in Agape under a historical cost

of $100 or $0.0001 per share.

of Millennium Fine Art Inc.

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of December 31, 2022, 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.

Company and recognized our investment in MFAI at historical cost of $4,000,000 (by issuance of 444,444 shares of the Company’s

restricted Common Stock at $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.

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 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.

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.

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 45,731 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, $16.4

per share, on November 18, 2020.

of December 31, 2021, GVCL holds 15% of APSB’s issued and outstanding shares of common stock and recognized our investment in APSB

at historical cost of $749,992 under other investments.

of December 31, 2022, the fair value of APSB was appraised by an independent appraiser, Ravia Global Appraisal Advisory Limited (the

“Appraiser”) and according to our 15% interest in APSB, our investment was valued approximately $736,000.

Hence, the Company

recorded an impairment loss of $13,992 for the year ended December 31, 2022.

of December 31, 2022, our investment in APSB was revalued at $736,000.

of Global Leaders Corporation

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in Hong Kong and China.

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

of December 31, 2022, GVCL recognized the investment in GLC at historical cost of $900 under other investments.

of First Bullion Holdings, Inc.

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December 11, 2020, the Company issued 68,587 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

Tang at $14.58 per share to

acquire 10% of the issued and outstanding shares of FBHI for a purchase price of $1,000,000 and issued 25,000 shares of its restricted

Common Stock at $364,500 or $14.58 per share in partial consideration of the additional 8% shareholdings of FBHI.

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February 26, 2021, the Company issued an additional 34,259 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.

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 December 31, 2022, GVCL, the fair value of FBHI was appraised by an independent appraiser, Ravia Global Appraisal Advisory Limited

(the “Appraiser”) and according to our 18% interest in FBHI, our investment was valued approximately $246,000.

The depreciation

of FHBI’s fair value was mainly due to a significant decrease of its revenue.

Hence, the Company recorded an impairment loss of

$2,043,500 for the year ended December 31, 2022.

of December 31, 2022, our investment in FBHI was revalued at $246,000.

of New Business Media Sdn.

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New Business Media Sdn.

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

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

is a Malaysia 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

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as of November 1, 2020.

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

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

of December 31, 2022, the fair value of NBMSB was appraised by an independent appraiser, Ravia Global Appraisal Advisory Limited (the

“Appraiser”) and according to our 18% interest in NBMSB, our investment was valued approximately $82,000.

The depreciation

of NBMSB’s fair value was mainly due to its significant drop of revenue.

Hence, the Company recorded an impairment loss of $329,120

for the year ended December 31, 2022.

of December 31, 2022, our investment in NBMSB was revalued at $82,000.

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”).

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

Pursuant to the agreement, GVCL acquired 2,000,000

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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.

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

The investment

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

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

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

of December 31, 2022, GVCL holds approximately 4% interest of AARC.

The Company made a provision of impairment of $249,385 for our investment

in AARC for the year ended December 31, 2022 and impaired our investment in AARC to nil as of December 31, 2022.

The provision of full

impairment was due to AARC’s failure in proving its updated financial condition and performance for evaluation.

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.

principally provides turnkey services, from strategic satellite anchor station solutions, including

construction and facility design, and antenna integration to fully deployable, integrated tactical platform solutions (“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.

of December 31, 2022, GVCL recorded the investment in Angkasa at historical cost of $2,800 under other investments.

of Simson Wellness Tech.

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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 December 31, 2022, GVCL recorded the investment in Simson 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.

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, is principally engaged in developing a multi-faceted

suite of products and services for the crypto currency 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 300,000 shares

of the Company’s restricted Common Stock, valued at $7,206,000 to the Fund.

April 7, 2021, the Company issued 300,000 shares of its restricted Common Stock to the Fund and issued 6,000 shares of its restricted

Common Stock to a designee of the Fund as a subscription fee of $144,120 ($24.02 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.

December 31, 2021, GRL determined that the value of its investment in the Fund based on the closing stock price of the Company’s

Common Stock was impaired.

Hence, an impairment loss of $5,349,600 was recorded for the year ended December 31, 2021, and the investment

in the Fund was revalued at $1,856,400 as of December 31, 2021.

December 31, 2022, GRL made a further impairment of $1,532,400 and revalued the investment in the Fund at $324,000 based on the closing

stock price of our Common Stock as of December 31, 2022.

of Jocom Holdings Corp.

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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 December 31, 2022, the Company recorded the investment in Jocom at historical cost of $150 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.

July 30, 2021, GVCL entered into a subscription agreement with Ata Global Inc., a Nevada corporation, is principally in provision of

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.

of December 31, 2022, the Company recorded the investment in Ata Global at historical cost of $225 under other investments.

of catTHIS Holdings Corp.

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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”).

of December 31, 2022, the Company recorded the investment in catTHIS at historical cost of $200 under other investments.

of ACT Wealth Academy Inc.

February 21, 2022, GVCL entered into a subscription agreement with ACT Wealth Academy Inc., a Nevada corporation, which provides training,

seminars, and events in the academic fields (“ACT Wealth”).

Pursuant to the agreement, GVCL acquired 6,000,000 shares of

common stock of ACT Wealth at a price of $600 or $0.0001 per share.

of December 31, 2022, the Company recorded the investment in ACT Wealth at a historical cost of $600 under other investments.

of REBLOOD Biotech Corp.

April 1, 2022, GVCL entered into a subscription agreement with REBLOOD Biotech Corp., a Nevada corporation, which is principally in provision

of health management and biotechnology services (“REBLOOD”).

Pursuant to the agreement, GVCL acquired 1,000,000 shares of

common stock of REBLOOD at a price of $100 or $0.0001 per share.

of December 31, 2022, the Company recorded the investment in REDBLOOD at a historical cost of $100 under other investments.

of Best2bid Technology Corp.

June 9, 2022, GVCL entered into a subscription agreement with Best2bid Technology Corp., a Nevada corporation, which provides an online

bidding cum e-commerce platform enabling participants to auction or sell their merchandise to bidders (“Best2bid”).

to the agreement, GVCL acquired 5,500,000 shares of common stock of Best2bid at a price of $550 or $0.0001 per share.

of December 31, 2022, the Company recorded the investment in Best2Bid at a historical cost of $550 under other investments.

and disposal or write off of other investments

and disposal 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.

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

Our investment

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

December 16, 2022, GVCL agreed with Pentaip’s repurchase request, sold back our 4,000,000 owned PTI shares to PTL at $400.

cash of $400 from PTI in exchange for our return of PTI shares.

of December 31, 2022, we had no investments in PTI.

and write-off of 72 Technology Group Limited

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 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.

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

Our investment in 72 Technology

was recognized at historical cost of $6,000 under other investments.

2022, 72 Technology decided to discontinue its IPO plan and upon mutual agreement, the IPO service agreement entered between 72 Technology

and the Company was terminated.

consideration of 72 Technology’s discontinuity of its IPO plan and dormant status, we decided to write off our investment in

72 Technology.

the year ended December 31, 2022, we recorded a loss from the written off of investment of $6,000, and as of December 31, 2022, we

had no investment in 72 Technology.

and write-off of Fruita Bio Limited

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”).

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

Our investment in Fruita

was recognized at historical cost of $1,000 under other investments.

2022, Fruita decided to discontinue its IPO plan and upon mutual agreement, the IPO service agreement entered between Fruita and the

Company was terminated.

consideration of Fruita’s discontinuity of its IPO plan and dormant status, we decided to write off our investment in

the year ended December 31, 2022, we recorded a loss from written off of investment of $1,000, and as of December 31, 2022, we had no

investment in Fruita.

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

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on Trust and wealth management;

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;

an online equity crowd funding platform to assist small to medium sized enterprises (SMEs) to access funding through its platform;

crypto currency 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;

big data and focusing on artificial intelligence (AI) to provide financial services;

financial technology (FinTech) services;

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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.

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

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

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

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

and real estate.

Wealth Wisdom Development

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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.

The major search engines are Baidu and Google as these

are the common search engine worldwide.

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 are the

common search engine worldwide.

and Conversion

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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

would have adequate remedies for any breach, or that our trade secrets or un-patentable know-how will not otherwise become known or be

independently developed by competitors.

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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.

of employment protection and benefits for employees, including Wage Protection, Rest Days, Holiday 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).

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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.

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,

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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

an offshore holding company with PRC subsidiaries, 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

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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.

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.

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.

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.

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.

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

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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.

we are following 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.

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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.

are required to contribute to the Employees Provident Fund (EPF) under a defined contribution pension plan for all eligible employees

in Malaysia between the ages of 18 and 55.

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

The participants are entitled to all 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.

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.

For the years ended December 31, 2022, and 2021, the contributions were $36,593 and $35,977, respectively.

are required to contribute to the Mandatory Provident Fund (MPF) for all eligible employees in Hong Kong between the ages of 18 and 65.

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, 2022, and 2021, the MPF contributions by the Company were $22,025 and $25,663, 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.

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1 Medan Syed Putra Utara, 59200, Kuala Lumpur, Malaysia.

Our principal telephone number is +60 3 2201 - 3192.

Our website is at:

http://www.greenprocapital.com .

Our principal telephone number is +60 3 2201 - 3192 and our website is “ greenprocapital.com ”.

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.

have regional offices in Hong Kong and Shenzhen, China which principally serve their respective clients and provide support to the Company.

Development Plan

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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

Item 1. Business