NASDAQ: GRNQ

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

Greenpro
Financial Consulting (Shenzhen) Limited

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

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

5

Asia
UBS Global Limited (Hong Kong)

Provides
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.

Asia
UBS Global Limited (Belize)

Provides
business advisory services with a focus on offshore company formation advisory and company secretarial services, such as tax planning,
bookkeeping and financial review. It focuses on Southeast Asia and clients in China.

Falcon
Corporate Services Limited (Hong Kong)

Provides
offshore company formation advisory services and company secretarial services to clients based in Hong Kong and China.

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

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

Greenpro
Sparkle Insurance Brokers Limited (Hong Kong)

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

Greenpro
Family Office Limited (Hong Kong)

Provides
multi-family office services such as wealth planning and administration, asset protection and performance monitoring, charity services,
trusteeship and risk management, investment planning and business support services.

Greenpro
Financial Consulting Limited (Belize)

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

Greenpro
Capital Village Sdn. Bhd. (Malaysia)

Provides
business consulting and advisory services in Malaysia.

Green-X
Corp. (Malaysia)

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

Greenpro
Venture Capital Limited (Anguilla)

A
holding company.

Forward
Win International Limited (Hong Kong)

Holds
investment in commercial real estate in Hong Kong.

Global
Business Hub Limited (Malaysia)

Develops
a digital banking business in Malaysia.

6

Incorporation
of Subsidiaries and VIE

Incorporation
of Greenpro Resources Limited, a British Virgin Islands company

On
July 3, 2012, Greenpro Resources Limited (“GRBVI”) was founded and incorporated by our directors, Mr. Lee Chong Kuang and
Mr. Loke Che Chan Gilbert (“Messrs. Lee and Loke”) in the British Virgin Islands.

Incorporation
of Greenpro Resources Limited’s wholly owned subsidiaries

Greenpro
Resources (HK) Limited, a Hong Kong company

On
April 5, 2012, Greenpro Resources (HK) Limited (“GRHK”) was founded and incorporated by our directors, Messrs. Lee and Loke
in Hong Kong.

Greenpro
Financial Consulting Limited, a Belizean company

On
July 26, 2012, Greenpro Financial Consulting Limited (formerly known as Weld Asia Financial Consulting Limited) (“GFCL”)
was founded and incorporated by our director, Mr. Lee Chong Kuang (“Mr. Lee”), in Belize.

Greenpro
Resources Sdn. Bhd., a Malaysian company

On
April 25, 2013, Greenpro Resources Sdn. Bhd. (“GRSB”) was founded and incorporated by our director, Mr. Lee, and his spouse,
Ms. Yap Pei Ling (“Ms. Yap”), in Malaysia.

Greenpro
Holding Limited, a Hong Kong company

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

Greenpro
Management Consultancy Limited, a Shenzhen, China-based company

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

Development
of Greenpro Resources Limited and its wholly owned subsidiaries through acquisitions

On
January 1, 2014, Greenpro Resources Limited (“GRBVI”) acquired 100% of the outstanding shares of GFCL, from our director,
Mr. Lee, at a consideration of $1.

On
January 22, 2014, GHL acquired 2 shares, representing 100% of the outstanding shares of GRHK from its shareholders, Messrs. Lee and Loke
at a total consideration of HK$2 (approximately $0.26). On the same day after this acquisition, GRHK allotted an additional 1,075,000
shares to GHL for HK$1,075,000 (approximately $138,709).

On
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. Lee, and his spouse, Ms. Yap, for HK$2,943,298 (approximately $379,780). GRSB is principally engaged in commercial
real estate investments in Malaysia.

7

Incorporation
of Greenpro Venture Capital Limited, an Anguilla company

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

Incorporation
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-based company

On
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 to provide a borderless platform through networking events and programs in Hong Kong. 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, Messrs. Lee and Loke, are also the shareholders of GNFA.

The
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.

GHL
acquired a life insurance policy (the “Policy”) on May 15, 2015. On June 13, 2016, GHL transferred the ownership of the Policy
to GNFA. 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.

On
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 the provision of a borderless
platform through networking events and programs in China for our members to seek professional services and business opportunities and
to exchange sources of information and research. Currently, GFCSZ principally provides corporate advisory and financial consulting services
to clients in China.

On
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.

Incorporation
of Green-X Corp., a Labuan, Malaysian company

On
December 23, 2021, Green-X Corp. (“Green-X”) was founded and incorporated by our director, Mr. Lee Chong Kuang (“Mr.
Lee”) in Labuan, Malaysia and consolidated with our group on June 22, 2022.

8

Acquisition
and Reorganization of Subsidiaries

Acquisitions
of entities under common control:

Acquisition
of Greenpro Resources Limited, a British Virgin Islands company

On
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 907,000 shares
of our restricted Common Stock and paid $25,500 in cash.

At
the time of the acquisition of GRBVI, 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. Messrs. 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. Lee and Loke each held a 50% interest in GRBVI. Upon the consummation of the acquisition,
Messrs. Lee and Loke received, in 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.

Acquisition
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. 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. Messrs. 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 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.

9

Acquisition
of A&G International Limited, a Belizean company

On
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”). Ms. Yap, a director and sole shareholder of A&G, is the spouse
of our director, Mr. Lee.

In
connection therewith, we issued to Ms. Yap, 184,200 shares of our restricted Common Stock and the acquisition was accounted for as a
transfer among entities under common control.

A&G
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”).

On
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. Yap.

Acquisition
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-based company

On
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”), 208,020 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 $5.2 per share. The purchase price was determined based on the business value
generated by F&A at the time of acquisition. The acquisition was accounted for as a transfer among entities under common control.

Ms.
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.

10

Acquisition
of Greenpro ESG Solutions Sdn. Bhd., (formerly known as Greenpro Global Capital Sdn. Bhd.) a Malaysian company

On
May 23, 2016, our wholly owned subsidiary, Greenpro Holding Limited (“GHL”), acquired 400 shares, representing 40% of the
outstanding shares of Greenpro Wealthon Sdn. Bhd. (renamed to Greenpro Global Capital Sdn. Bhd. on June 13, 2018, and subsequently renamed
Greenpro ESG Solutions Sdn. Bhd. on June 1, 2023) (“GPESG”), 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, GPESG issued another 200 shares
to GHL at the price of MYR120,000 (approximately $30,000), resulting in GHL owning 60% of GPESG.

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

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

On
April 27, 2017, our wholly owned subsidiary, GRBVI and Gushen Credit Limited (renamed to Greenpro Credit Limited on May 16, 2017) (“GCL”),
a Hong Kong corporation, entered into an asset purchase agreement, pursuant to which GRBVI purchased all the assets of GCL. 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.

GCL
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 and GRBVI.

Acquisition
of Greenpro Family Office Limited, a Hong Kong company

On
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. Mr. Loke was the sole shareholder of GFOL before the acquisition. This acquisition was accounted for as
a transfer among entities under common control. On September 21, 2018, the remaining 49% of the shareholdings of GFOL were transferred
to GRBVI, and currently, GRBVI holds 100% of GFOL.

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

On
January 2, 2019, the Company acquired Sparkle Insurance Brokers Limited (renamed Greenpro Sparkle Insurance Brokers Limited on April
4, 2019) (“Sparkle”) 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 860 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 $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.

11

Acquisition
of Forward Win International Limited, a Hong Kong company

On
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.

On
April 15, 2024, we acquired the remaining 40% shares of FWIL from the non-controlling interest (the “NCI”) in exchange
for a distribution of 40% of FWIL’s real estate properties as consideration of its acquisition and settlement of a loan from
the NCI.

Acquisition
of Global Business Hub Limited, a Labuan, Malaysian company

On
June 6, 2024, we acquired Global Business Hub Limited (“GBHL”) from our Chief Executive Officer and director, Mr. Lee Chong
Kuang for a price of $100. We acquired GBHL and aim to develop a digital banking business in Malaysia.

Acquisition,
disposal, and reacquisition of Greenpro Capital Village Sdn. Bhd. (formerly known as Weld Asia Global Advisory Sdn. Bhd.), a Malaysian
company

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).
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.

In
2015, Weld Asia Global Advisory Sdn. Bhd. was renamed Greenpro Capital Village Sdn. Bhd. (“GCVSB”). 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
$12,794). 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).

On
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.

In
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 7,953 shares of the Company’s Common Stock valued at $69,191 or $8.7 per share. The total
consideration of the acquisition was $69,231. The Company’s reacquisition of GCVSB aimed to expand its business consulting services
in Malaysia.

Disposal
of subsidiaries

Disposal
of Greenpro Credit Limited, a Hong Kong company

On
August 2, 2021, the Company sold its entire 100% interest in Greenpro Credit Limited (“GCL”) to an unrelated party for HK$30,000
(approximately $3,847), due to continuing losses incurred by GCL.

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

Acquisition
of an associate company

Acquisition
of Greenpro KSP Holding Group Company Limited (formerly known as KSP Holding Group Company Limited), a Thailand company

On
July 20, 2018, our wholly owned subsidiary, Greenpro Venture Capital Limited (“GVCL”) entered into a sale and purchase agreement
with Mr. Prapakorn Saokliew and Ms. Surapa Jamjang, each holding 45.13% and 45.12% shareholdings of a Thailand company, KSP Holding Group
Company Limited (renamed to Greenpro KSP Holding Group Company Limited on August 7, 2018) (“KSP”), respectively. Pursuant
to the agreement, GVCL agreed to acquire approximately 49% of the shareholdings of KSP 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 the 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.

On
December 31, 2018, the Company determined that its investment in KSP was impaired and recorded an impairment of unconsolidated investment
of $363,930. We currently hold approximately 48% of the issued and outstanding shares of KSP.

12

Acquisitions
of other investments

Name (Domicile)
Acquisition Date
Equity Interest
Business

1.
Greenpro Trust Limited
March 30, 2015
8.33%
Provides trusteeship, custodial and fiduciary services.

(Hong Kong)
April 13, 2016
2.78%

2.
Millennium Fine Art Inc. (Wyoming, USA)
June 29, 2020
4.65%
Invests in art (Millennium Sapphire).

3.
Ata Plus Sdn. Bhd. (Malaysia)
July 8, 2020
4.45%
Provides an online equity crowd funding platform to assist small to medium-sized enterprises (SMEs) to access funding through its platform.

4.
Global Leaders Corporation (Nevada, USA)
August 30, 2020
5.83%
Provides training and consulting services.

5.
First Bullion Holdings Inc.
October 19, 2020
10%
Provides cryptocurrency trading and digital asset exchange services.

(British Virgin Islands)
February 17, 2021
8%

6.
New Business Media Sdn. Bhd. (Malaysia)
November 1, 2020
18%
Provides a capital market-focused portal to

browse business markets or corporate news.

7.
Angkasa-X Holdings Corp. (British Virgin Islands)
February 3, 2021
12.18%
Provides turnkey services, from strategic satellite anchor station solutions to fully deployable, integrated tactical platform solutions.

8.
Ata Global Inc. (Nevada, USA)
July 30, 2021
5%
Provides financial technology (FinTech) services.

9.
catTHIS Holdings Corp. (Nevada, USA)
August 27, 2021
1.58%
Provides a digital catalog management platform for users to upload, share and retrieve digital catalogs from any device.

10.
ACT Wealth Academy Inc. (Nevada, USA)
February 21, 2022
9.8%
Provides training, seminars, events and academies in fields related, but not limited to, financial and wealth.

11.
Best2bid Technology Corp. (Nevada, USA)
June 9, 2022
9.17%
Provides an online bidding platform for the art and creative industry stakeholders.

12.
SEATech Ventures Corp.

(Nevada, USA)
August 8, 2024
3.46%
Provision of mentoring and incubation services to clients.

13

1.
Acquisition
of Greenpro Trust Limited

On
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 the provision
of trusteeship, custodial and fiduciary services to clients in Hong Kong.

On
April 13, 2016, another wholly owned subsidiary of the Company, Asia UBS Global Limited, a Belizean 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
per share.

The
Company indirectly has an aggregate of approximately 11% interest in GTL with an investment value of $51,613. Messrs. Lee and Loke are
common directors of GTL and the Company.

On
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 at approximately $11,981. Hence, the Company recorded an impairment loss of $39,632 for the year ended
December 31, 2022.

From
2023 to 2024, our investment value in GTL remained the same at $11,981 as no impairment indicator occurred during these two years.

For
the year ended December 31, 2025, the Company recognized an impairment of $11,981 for the investment in GTL due to GTL’s failure
to provide updated financial statements for evaluation. As a result, our investment in GTL was fully impaired with a nil value as of
December 31, 2025.

2.
Acquisition
of Millennium Fine Art Inc.

On
June 29, 2020, the Company entered into a purchase and sale agreement with its Wyoming-incorporated subsidiary, Millennium Fine Art Inc.
(“MFAI”). 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
later. A gain on disposal of $1,000,000 was recorded at the Company level but was eliminated upon consolidation.

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

As
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 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.

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.

For
the year ended December 31, 2023, the Company recognized an impairment of $4,000,000 for the investment in MFAI due to continuing losses
incurred by MFAI and uncertainty of the existence of the Millennium Sapphire. As a result, our investment in MFAI was recorded with a
nil value as of December 31, 2023.

As
of December 31, 2025 and 2024, our investment in MFAI remains at nil value.

3.
Acquisition
of Ata Plus Sdn. Bhd.

On
July 8, 2020, GVCL entered into an acquisition agreement with all 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 shares 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.

On
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 at approximately $736,000. Hence, the Company recorded an impairment
loss of $13,992 for the year ended December 31, 2022.

For
the year ended December 31, 2023, the Company made a further impairment of $736,000 for investment in APSB due to APSB’s continuing
losses, and the Company’s shareholdings in APSB were diluted from 15% to approximately 4% at the end of 2023. As a result, our
investment in APSB was fully impaired with a nil value as of December 31, 2023.

As
of December 31, 2025, and 2024, our investment in APSB remains the same with a nil value.

14

4.
Acquisition
of Global Leaders Corporation

On
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 to provide training and consulting services to corporate clients
in Hong Kong and China.

Upon
acquisition, GVCL recognized the investment in GLC at a historical cost of $900 under other investments.

For
the year ended December 31, 2024, the Company recognized an impairment of $900 for the investment in GLC due to its continuous losses
and stockholders’ deficit. As a result, our investment in GLC was fully impaired with a nil value as of December 31, 2024.

As
of December 31, 2025, our investment in GLC remains the same with a nil value.

5.
Acquisition
of First Bullion Holdings, Inc.

On
October 19, 2020, GVCL entered into a stock purchase and option agreement with Mr. Tang Ka Siu Johnny and First Bullion Holdings Inc.
(“FBHI”). 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. Pursuant
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 68,587 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.

Pursuant
to the agreement, Mr. Tang and FBHI also granted 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 the acquisition
of the option, GVCL agreed to issue 25,000 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.

On
December 11, 2020, the Company issued 68,587 shares of its restricted Common Stock to two designees of Mr. 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.

On
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.

On
February 26, 2021, the Company issued additional 34,259 shares of its restricted Common Stock to two designees of Mr. Tang at $27 per
share (valued at approximately $925,000). Therefore, 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 a historical cost of $2,289,500 under other investments.

On
December 31, 2022, the fair value of FBHI was appraised by the Appraiser and according to our 18% interest in FBHI, our investment was
valued at approximately $246,000. The depreciation of FHBI’s fair value was mainly due to a significant decrease in its revenue.
Hence, the Company recorded an impairment loss of $2,043,500 for the year ended December 31, 2022.

For
the year ended December 31, 2023, the Company made a further impairment of $246,000 for the investment in FBHI due to FBHI’s dormant
status. As a result, our investment in FBHI was fully impaired with a nil value as of December 31, 2023.

As
of December 31, 2025, and 2024, our investment in FBHI remains the same with a nil value.

6.
Acquisition
of New Business Media Sdn. Bhd.

On
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. Bhd (“NBMSB”). NBMSB is a Malaysian company involved in operating a Chinese media portal that provides digital
news services focusing on Asian capital markets. NBMSB is also one of the biggest Chinese-language digital business news networks in
Malaysia and has readers from across Southeast Asia.

Pursuant
to the agreement, both Ms. Lee and Mr. Chia have agreed to sell to GVCL an 18% equity stake in NBMSB in consideration of a new issuance
of 25,759 shares of the Company’s restricted Common Stock, valued at $411,120 or $15.96 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, and
liabilities as of November 1, 2020. Therefore, GVCL recognized the investment in NBMSB at a historical cost of $411,120 under other investments.

On
December 31, 2022, the fair value of NBMSB was appraised by an independent appraiser, the Appraiser and according to our 18% interest
in NBMSB, our investment was valued at approximately $82,000. The depreciation of NBMSB’s fair value was mainly due to its significant
drop in revenue. Hence, the Company recorded an impairment loss of $329,120 for the year ended December 31, 2022.

During
2023, no indicator of impairment occurred and hence, our investment value in NBMSB remained the same at $82,000 as of December 31, 2023.

For
the year ended December 31, 2024, the Company recognized an impairment of $82,000 for the investment in NBMSB due to NBMSB’s failure
to provide updated financial statements for evaluation. As a result, our investment in NBMSB was fully impaired with a nil value as of
December 31, 2024.

As
of December 31, 2025, our investment in NBMSB remains the same with a nil value.

15

7.
Acquisition
of Angkasa-X Holdings Corp.

On
February 3, 2021, GVCL entered into a subscription agreement with Angkasa-X Holdings Corp., a British Virgin Islands corporation, which
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-X”). Pursuant to the agreement,
GVCL acquired 28,000,000 ordinary shares of Angkasa-X at a price of $2,800 or $0.0001 per share.

Upon
acquisition, GVCL recorded the investment in Angkasa-X at a historical cost of $2,800 under other investments.

For
the year ended December 31, 2024, the Company recognized an impairment of $2,800 for the investment in Angkasa-X due to its continuous
losses and stockholders’ deficit. As a result, our investment in Angkasa-X was fully impaired with a nil value as of December 31,
2024.

As
of December 31, 2025, our investment in Angkasa-X remains the same with a nil value.

8.

Acquisition
of Ata Global Inc.

On
July 30, 2021, GVCL entered into a subscription agreement with Ata Global Inc., a Nevada corporation, principally in the 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.

Upon
acquisition, the Company recorded the investment in Ata Global at a historical cost of $225 under other investments.

For
the year ended December 31, 2024, the Company recognized an impairment of $225 for the investment in Ata Global due to its failure to
provide updated financial statements for evaluation. As a result, our investment in Ata Global was fully impaired with a nil value as
of December 31, 2024.

As
of December 31, 2025, our investment in Ata Global remains the same with a nil value.

9.

Acquisition
of catTHIS Holdings Corp.

On
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 device (“catTHIS”). Pursuant
to the agreement, GVCL acquired 2,000,000 shares of common stock of catTHIS at a price of $200 or $0.0001 per share.

Upon
acquisition, the Company recorded the investment in catTHIS at a historical cost of $200 under other investments.

For
the year ended December 31, 2024, the Company recognized an impairment of $200 for the investment in catTHIS due to its continuous loss
and stockholders’ deficit. As a result, our investment in catTHIS was fully impaired with a nil value as of December 31, 2024.

As
of December 31, 2025, our investment in catTHIS remains the same with a nil value.

10.

Acquisition
of ACT Wealth Academy Inc.

On
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.

Upon
acquisition, the Company recorded the investment in ACT Wealth at a historical cost of $600 under other investments.

For
the year ended December 31, 2024, the Company recognized an impairment of $600 for the investment in ACT Wealth due to its failure to
provide updated financial statements for evaluation. As a result, our investment in ACT Wealth was fully impaired with a nil value as
of December 31, 2024.

As
of December 31, 2025, our investment in ACT Wealth remains the same with a nil value.

16

11.

Acquisition
of Best2bid Technology Corp.

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

Upon
acquisition, the Company recorded the investment in Best2Bid at a historical cost of $550 under other investments.

For
the year ended December 31, 2024, the Company recognized an impairment of $550 for the investment in Best2bid due to its failure to provide
updated financial statements for evaluation. As a result, our investment in Best2bid was fully impaired with a nil value as of December
31, 2024.

As
of December 31, 2025, our investment in Best2bid remains the same with a nil value.

12.

Acquisition
of SEATech Ventures Corp.

On
August 8, 2024, GVCL entered into a stock purchase agreement with an unrelated party, Seah Kok Wah (“Mr. Seah”). Pursuant
to the agreement, Mr. Seah agreed to sell his 923,544 shares of common stock of SEATech Ventures Corp. (“SEATech”) to GVCL
for approximately $92 or $0.0001 per share. SEATech is a Nevada corporation and principally provides mentoring and incubation services
to clients. The investment was recognized at a cost of $92 under other investments.

In
addition to the acquisition in August 2024, together with the remaining 2,279,813 SEATech shares which were acquired and impaired during
2018, GVCL in aggregate holds 3,203,357 shares of common stock of SEATech as of December 31, 2024.

As
of December 31, 2024, the Company recorded the investment in SEATech at a historical cost of $92 under other investments.

For
the year ended December 31, 2025, the Company recognized an impairment of $92 for the investment in SEATech due to its continuous losses
and stockholders’ deficit. As a result, our investment in SEATech was fully impaired with a nil value as of December 31, 2025.

Acquisition
and disposal of other investment

Acquisition and disposal of Jocom Holdings Corp.

On
June 2, 2021, our wholly owned subsidiary, Greenpro Venture Capital Limited (“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.

Upon
acquisition, the Company recorded the investment in Jocom at a historical cost of $150 under other investments.

For
the year ended December 31, 2024, the Company recognized an impairment of $150 for the investment in Jocom due to its continuous losses
and stockholders’ deficit. As a result, our investment in Jocom was fully impaired with a nil value as of December 31, 2024.

On
January 24, 2025, GVCL sold all 1,500,000 shares of Jocom’s common stock to an unrelated party, Chu, Hon Pong, at a price of $39,950.
As a result, GVCL recognized a gain on disposal of other investment of $39,800 and a reversal of impairment of investment of $150 for
the year ended December 31, 2025.

17

Recent Developments

Subsequent to December 31, 2025,
on February 13, 2026, the Company entered into a Share Exchange Agreement (the “Share Exchange Agreement”) with Forekast Limited,
a company incorporated in the British Virgin Islands (“Forekast”), and the shareholders of Forekast listed on Annex A thereto
(the “Forekast Shareholders”).

Upon closing of the transactions
contemplated by the Share Exchange Agreement, the Company will acquire from the Forekast Shareholders a number of Forekast ordinary shares
sufficient to result in the Company owning approximately 13.6% of Forekast’s outstanding equity interests on a fully diluted basis
as of the closing date. In consideration thereof, the Company will issue an aggregate of 8,500,000 shares of its common stock (the “Exchange
Shares”) to the Forekast Shareholders

This transaction, if completed,
is intended to expand the Company’s investment portfolio and provide exposure to additional strategic opportunities aligned with
our advisory, consulting, and venture capital activities. The closing is subject to customary conditions, including an outside date of
March 31, 2026. For additional details, see the Company’s Current Report on Form 8-K filed with the SEC on February 17, 2026, and
Note 14 – Subsequent Events to the consolidated financial statements.

Business
Overview

Since
2024, through our Labuan subsidiary, Green-X Corp. (“Green-X”), we have launched our blockchain initiative in Indonesia by
conducting training programs in collaboration with institutions like Dubai Blockchain Center. We also signed a strategic agreement with
Pondok Pesantren Darul Fiqhi to promote blockchain technology through Islamic boarding schools. Additionally, we plan to implement a
Brunei Darussalam, Indonesia, Malaysia and the Philippines East ASEAN Growth Area (BIMP-EAGA) digital wallet in Indonesia, that facilitates
and enables us to raise funds through digital means by issuing or offering Shariah-compliant securities token (RAMZ) in Labuan International
Business and Financial Centre (Labuan IBFC).

Green-X
is a platform operator licensed under the Labuan Financial Services and Securities Act 2010 (LFSSA) whereby security token issuers (“Issuers”)
offer their security tokens for subscription and trading by investors (“Investors”) through Green-X digital asset exchange
(“Green-X DAX”) platform. ISRA International Consulting Sdn. Bhd. (“ISRA Consulting/Shariah Adviser of the platform”)
is responsible for advising on and ensuring end-to-end Shariah compliance for the Green-X DAX platform’s operations.

Key
Highlights of Green-X DAX and Shariah Compliance

●
The
platform adopts the contract of Ijarah, which shall be subject to all rules and requirements relating thereto.

●
Ijarah
is a contract that involves the hiring of services from an entity for a specified period, in exchange for a fee (ujrah).
This contract enables Green-X, as a platform provider, to offer its services, including but not limited to the facilitation of security-token
trading, benefits, and platform access to counterparties, such as Listing Sponsors, Issuers and Investors, in exchange for a fee.

●
Digital
assets:

i.
The
digital assets consist of cryptocurrencies, stablecoins and security tokens.

ii.
Cryptocurrencies
(digital currencies) are recognized as assets (mal) from the Shariah perspective.

iii.
Cryptocurrencies
that are based on technology without any underlying assets are categorized as goods (`urudh) and not subject to the principle
of currency exchange (bay` al-sarf).

iv.
Stablecoins
are a type of cryptocurrency whereby their values are pegged and/or backed to another currency or commodity.

v.
In
the event that the stablecoins’ values are:

a)
pegged
and backed by ribawi items comprising gold, silver and currency, such as Tether, which is pegged and backed to USD, it is
categorized as a currency from the Shariah perspective and subject to the principle of currency exchange, which is the same value
of the same type and on a spot basis.

b)
pegged
and/or backed by non-ribawi items, such as crude oil, it is categorized as goods and not subject to the principle of currency
exchange.

vi.
The
security tokens can be categorized into two categories:

a)
asset-backed
tokens - represent the digitalization of valuable assets into fractional digital

certificates,
indicating ownership rights over the asset.

b)
equity-based
tokens - represent direct ownership or shares in a company, which may include rights to dividends, voting, and other benefits.

The
former a) is considered an asset, while the latter b) represents equity.

vii.
For
transactions on the platform, the usage of digital assets shall be limited to those that have been approved by the Shariah Adviser
of the platform.

18

●
Green-X
e-wallet:

i.
An
individual or entity wishing to trade on the platform must deposit their digital assets into the Green-X e-wallet. These assets will
be used as payment for the subscription to security tokens.

ii.
The
Green-X e-wallet operates on the principle of Wadi’ah, a custodianship based on trust. The custodian is responsible
for the safekeeping of the assets and must return them at the depositor’s request.

iii.
As
this is a trust-based arrangement, the custodian is not permitted to utilize the assets or derive any profits from them. The custodian
is also not liable for any loss or damage to the assets unless it results from misconduct, negligence, or a breach of specified terms.

iv.
The
custodian shall not transfer the assets to a third party without the depositor’s consent. If such a transfer occurs without
consent, the custodian will be fully responsible for any loss or damage to the assets.

v.
For
the Green-X e-wallet, a certain percentage of the stored digital assets will be transferred to a Cold Wallet provided by BitGo. A
Cold Wallet is a secure, offline storage solution designed to protect assets from theft, hacks, and similar risks.

vi.
The
Cold Wallet provided by BitGo also operates under the concept of Wadi’ah, wherein the custodian is responsible for the
safekeeping of the assets and must return them upon the depositor’s request.

●
STO
issuance:

i.
The
STO issuance on the platform shall adhere to the Shariah Tokenization Guidelines.

ii.
The
subscription of STO adopts a sale and purchase (al-bay’) contract, incorporating the hamish jiddiyyah.

iii.
Hamish
jiddiyyah refers to a security deposit taken at the promise stage and held as collateral until the execution of the contract.
Upon execution of the contract, hamish jiddiyyah is either refunded to the buyer or adjusted against the payable amount.

●
Smart
contract:

i.
A
program stored on a blockchain, representing a digital version of traditional contracts made between any parties, but without the
need to have independent third-party verification. The verification and validation tasks are handled instead by the Ethereum platform
itself. In other words, smart contracts are capable of self-execution and self-validation.

ii.
Works
in the form of “If…then…” statements whereby a network of computers executes specific actions when predetermined
conditions have been met and verified.

iii.
Smart
contracts are allowable from a Shariah perspective when all the necessary Shariah requirements are fully complied with as approved
by the Shariah Adviser of the platform.

●
Late
payment charges:

i.
Late
payment charges which consist of compensation (ta’widh) at actual loss incurred on overdue fees may be charged by Green-X.

ii.
The
amount of ta’widh is allowed to be recognized as income.

iii.
Rate
of ta’widh which may be imposed shall not be more than 1% per annum on the outstanding amount and shall not be compounded.

●
Shariah-compliant
purpose:

i.
The
purpose of utilization of the raised funds shall be compliant with the Shariah principle.

ii.
In
the event that the project involves investing in business activities which consist of both Shariah-compliant and Shariah Non-Compliant
(“SNC”) activities (collectively referred to as “Mixed Activities”), the SNC activities must not exceed the
designated benchmarks.

19

●
Below
are the parties on the Green-X DAX platform:

Green-X:
A platform operator, licensed under the LFSSA. Green-X operates a Shariah-compliant platform that facilitates the listing of the
Issuer’s security tokens, subscription for security tokens by the Investor and trading of security tokens.

Issuer:
A company that issues Shariah-compliant security tokens through the Green-X DAX platform and intends to raise funds for Shariah-compliant
purposes.

Investor:
Individual or entity that has successfully registered as a Green-X e-wallet user on the Green-X DAX platform and subscribes to security
tokens through payment of consideration in the form of digital assets on the Green-X DAX platform.

DAX
Listing Sponsor: The adviser who is authorized to undertake both Initial Listing Activities and Post Listing Activities including
but not limited to performing due diligence on the Issuer’s assets and business, preparing the Pre-Consultation Presentation and
drafting the STO Business Memorandum.

Shariah
Adviser of the Platform: Herein referred to ISRA Consulting, provides guidelines to the Green-X DAX platform and ensures operations
of the platform are compliant with Shariah rules and principles.

Shariah
Adviser of the Issuer: Shariah Adviser appointed by the Issuer to ensure that the Issuer’s assets and purpose of utilization
for security token issuance are operated and managed in compliance with Shariah rules and principles.

●
Structure
and mechanism of STO issuance on the Green-X DAX platform:

1.
Investor
(A) applies for an STO by allocating digital assets, such as Tether (USDT), as security deposits via its e-wallet on the platform.
The allocated digital assets will be held by Green-X as security deposits until the required fundraising threshold for the security
tokens is achieved.

2.
Upon
reaching the specified fundraising threshold, the Issuer issues the security tokens, which are stored on the platform until the listing
date.

3.
On
the listing date of the security tokens on the platform, the security deposits are disbursed to the Issuer via its e-wallet as the
sale payment. Upon the conclusion of the sale and purchase transaction, the ownership of the security tokens is transferred to Investor
(A).

4.
Income
(if any) is disbursed by the Issuer to Investor (A) via the platform.

5.
Investor
(A) may execute the trading of its security tokens to other Investors (Investor B, C and D) via the platform.

On
June 15, 2024, Green-X entered into a sale and purchase agreement with a founder of a Delaware company, Dignity Corp. (referred to
as “Seller”) and subsequently on December 12, 2024, entered into a supplementary agreement with the Seller
(collectively, the “SPA”). Pursuant to the SPA, in consideration of the total token of four million (4,000,000) in our
digital assets, GX Token, paid and / or exchange by Green-X, and in consideration of the total token five million (5,000,000) in
Dignity Token, an asset-backed crypto security token (“DiGau”), The Seller grants to Green-X an option whereby Green-X
may at the end of sixty (60) months of period, with consent from both parties require the Seller to exchange back whichever balance
of GX Token back to Green-X and vice versa (the “Option”).

DiGau
was initially traded on the Green-X digital asset exchange (“Green-X DAX”) platform on April 10, 2024, with a closing price
of $2.3204 per token. As of December 31, 2025, and 2024, DiGau was traded on the Green-X DAX platform with a closing price of $9.5934
and $3.9006 per token, respectively.

Based
on the pricing data from CoinGecko, a cryptocurrency data aggregator, DiGau’s closing price on December 31, 2025, was $9.05 per
token.

Despite
the token exchange, DiGau was not recognized in our consolidated balance sheets as of December 31, 2025, and 2024, respectively, as
the transaction did not meet the criteria for asset recognition. As of the date of this report, we have not yet determined the value
of DiGau due to a lack of observable market transactions and price information. As a result, the transaction was not disclosed in
our consolidated financial statements for the years ended December 31, 2025, and 2024, respectively.

We
do not expect that the exclusion of the transaction will have a significant effect on our consolidated financial statements as of December
31, 2025, and 2024, respectively.

20

As
our core business, we operate and provide a wide range of business solution services to small and medium-sized businesses located in
Southeast 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.

We
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. 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.

Our
Services

We
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.

Cross-Border
Business Solutions

We
provide a full range of cross-border services to small to medium-sized enterprises (SMEs) to assist them in conducting their business
effectively. Our “Cross-Border Business Solutions” includes the following services:

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

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

●
Providing
bank loan referral services;

●
Providing
company secretarial services;

●
Assisting
companies in applying for business registration certificates with the Inland Revenue Department of Hong Kong;

●
Providing
corporate finance consulting services;

●
Providing
due diligence investigations and valuations of companies;

●
Advising
clients regarding debt and company restructurings;

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

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

●
Providing
financial and liquidity analysis;

●
Assisting
in setting up cloud invoicing systems for clients;

●
Assisting
in liaising with investors for the purpose of raising capital;

●
Assisting
in setting up cloud inventory systems to assist clients in recording, maintaining and controlling their inventories and tracking
their inventory levels;

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

●
Assisting
clients in payroll matters operated in our cloud payroll system;

●
Assisting
clients in tax planning, preparing the tax computation, and making tax filings with the Inland Revenue Department of Hong Kong;

●
Providing
cross-border listing advisory services, including but not limited to, United States, United Kingdom, Hong Kong, and Australia;

●
Providing
international tax planning in China;

●
Advising
on trust and wealth management;

●
Providing
an online equity crowdfunding platform to assist small to medium-sized enterprises (SMEs) to access funding through its platform;

●
Providing
cryptocurrency trading and digital asset exchange services;

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

●
Providing
big data and focusing on artificial intelligence (AI) providing financial services;

●
Providing
financial technology (FinTech) services; and

●
Transaction
services.

21

There
is a growing market in Asia for 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 assist private companies in their desire to list and trade on public exchanges, including the NASDAQ and OTC Markets in the United
States. 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.

Through
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.

While
there are several alternatives for companies seeking to go public and trade on the U.S. OTC markets, we primarily focus on three methods:

●
Registration
Statement on Form S-1

●
Regulation
A+ offering

●
The
Form 10 shell company

The
way the OTC markets are structured provides companies the ability to “uplist” in the marketplace as they provide better transparency.
These OTC markets include:

●
OTCQX
Best Marketplace: offers transparent and efficient trading of established investor-focused U.S. and global companies.

●
OTCQB
Venture Marketplace: for early-stage and developing U.S. and international companies that are not yet able to qualify for OTCQX.

●
OTC
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.

We
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. national securities exchange.

22

With
growing competition and increasing economic sophistication, we believe more companies need strategies for cross-border restructuring
and other corporate matters. Our plan is to bundle our Cross-Border Business Solutions services with our cloud accounting solutions and
Accounting Outsourcing Services described below.

Accounting
Outsourcing Services

We
intend to develop relationships with professional firms from Hong Kong, Malaysia, China, and Thailand that can provide company secretarial,
business centers and virtual offices, bookkeeping, 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 who may need our bookkeeping, 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.

Our
Service Rates

We
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.

Our
Venture Capital Business Segment

Venture
Capital Investment

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

We
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.

●
Seed
stage: 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 ownership model is considered and implemented.

●
Start-up
stage: 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 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
revenue are starting to be generated.

●
Expansion
stage: 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 increase 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.

23

We
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. 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
companies.

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

●
Step
1. 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 also anticipate that entrepreneurs will approach us for financing.

●
Step
2. Investment Decision: We will evaluate, examine, and engage in the diligence of a prospective portfolio company, including but
not limited to product/service viability, market potential and integrity as well as the 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.

●
Step
3. Business Development and Value Adding: In addition to capital contribution, we expect to provide expertise, knowledge, and relevant
business contacts to the company.

●
Step
4. Exit: There are several ways to exit an investment in a company. Common exits are:

◌
Initial
Public Offering (IPO): The company’s shares are offered in a public sale on an established securities market.

◌
Trade
sale (Acquisition): The entire company is sold to another company.

◌
Secondary
sale: The company’s firm sells only part of its shares.

◌
Buyback
or management buyout (MBO): Either the entrepreneur or the management of the company buys back the company’s shares in the
firm.

◌
Reconstruction,
liquidation, or bankruptcy: If the project fails, the company will restructure or close its operations.

Our
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:

●
high-growth
prospects

●
ambitious
teams

●
viability
of product or service

●
experienced
management

●
ability
to convert plans into reality

●
justification
of venture capital investment and investment criteria

24

Our
Venture Capital Related Education and Support Services.

In
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:

●
Developing
their business globally;

●
Expanding
business with increased capital funding;

●
Creating
a sustainable SME business model;

●
Accelerating
the growth of the business; or

●
Significantly
increasing company cash flows.

The
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. We believe that this seminar will synergistically support
our venture capital business segment.

Sales
and Marketing

We
plan to deploy three strategies to market the Greenpro brand: leadership, market segmentation and sales management process development.

●
Building
Brand Image: 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.

●
Market
Segmentation: We plan to devote marketing resources to highly measurable and high return-on-investment tactics that specifically
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.

●
Social
Media: We plan to begin a social media campaign utilizing blogs, such as X (formerly 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-sized enterprises (“SMEs”) in different industries, including biotechnology, intellectual property,
information technologies and real estate.

25

Worldwide
Wealth Wisdom Development

Worldwide
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. The campaign involves sharing content,
knowledge, and information about wealth management, including wealth creation, wealth protection and wealth succession.

The
objectives of WWW are:

1.
To
increase public awareness and recognition of Greenpro as a well-known advocate of the wealth principles described above;

2.
For
our philosophy to gain recognition so that our clients are confident and comfortable with our services and trust us;

3.
To
educate existing clients and potential prospects; and

4.
To
act as a channel of communication to gather market data and feedback.

Set
forth below are the marketing strategies we expect to develop.

Awareness
and Optimization

1.
Email
Blasts and E-Newsletter

Email
blasts are one of the commonly used tactics to disseminate information. Our email database will be collected through leads generated
by online marketing (social media) and promotional events. Future event invitations and monthly/quarterly newsletters will be sent to
the email database to boost event participation and provide updates on Company development.

2.
Media
PR and News Releases

Our
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 of various industries
and industry trends with the media network providers for free. We believe that this strategy will strengthen the relationship between
Greenpro and the media network providers.

3.
Social
Media

To
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.

4.
Online
Search Engine Optimization

Online
Search Engine Optimization (“SEO”) will be used as a supporting strategy to enhance our online presence campaign. We will
seek an 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 engines worldwide.

26

Interaction
and Conversion

1.
Seminars
and Conferences

Seminars
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 know-how 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”.

2.
Private
Events by Invitation

Private
and exclusive events are planned to be held quarterly with a target of 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.

3.
Small
Group Meet Ups and Networking

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

Market
Opportunities

We
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.

We
intend to assist our clients in the preparation of their financial statements cost-effectively and provide security for 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. We
believe our services will create numerous competitive advantages for our clients. We believe that with us handling administrative and
logistic support, our clients can focus on developing their businesses and expanding their own client portfolio.

Customers

Our
revenues are generated from clients located globally, including those from Hong Kong, China, Malaysia, Singapore, Indonesia, Thailand,
Japan, Taiwan, the United Kingdom, 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.

We
generated revenues of $2,073,557 and $3,496,405 during the fiscal years ended December 31, 2025, and 2024, respectively. We are not a
party to any long-term agreements with our customers.

Competition

We
operate in a mature, competitive industry. 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 tax planning and corporate restructuring. The competition in China or 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. Bhd. 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.

We
believe that the principal competitive factors in our market include quality of analysis; applicability and efficacy of recommendations;
strength and depth of relationships with clients; ability to meet the changing needs of current and prospective clients; and service
scope. 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. We are confident we can retain and enlarge our market share.

27

Intellectual
Property

We
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
have registered trademarks as a means of protecting the brand names of our companies and products. We intend to protect our trademarks
against infringement and seek to register design protection where appropriate. Currently, there are six trademarks registered under the
name of Greenpro Resources (HK) Limited.

Trademark

Trademark
Owner

Country
/ Territory

Registration
Date

Brief
Description

Greenpro
Resources (HK)

Limited

Hong
Kong

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

Classes
35, 41, 42: Advertising, business management, business administration, office functions, research services, education and training.

U.S.A.

February
2, 2016

Class
35: Business administration services, business assistance, management and information services, business knowledge management and
consulting services.

China

December
28, 2014

Classes
35 and 42: Advertising, business management, business administration, office functions and research services.

Singapore

July
22, 2013

Classes
35 and 42: Advisory services related to business management and administration, computer software and security.

We
rely on trade secrets and unpatentable 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 is developed or made known to the individual through an individual’s relationship with us, to be kept confidential,
and not be disclosed to third parties except in specific circumstances. The agreement also provides 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 people 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 un-patentable know-how will not otherwise become known
or be independently developed by competitors.

Government
Regulation

We
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.

28

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

Hong
Kong

Our
businesses located in Hong Kong are subject to the laws and ordinances enacted in Hong Kong including, but not limited to, 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 shall be required to comply with all laws and ordinances enacted in Hong Kong including, inter alia, data usage
and regular terms of services 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).

The
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, 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.

An
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.

We
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.

We
comply with the above applicable ordinances and regulations in Hong Kong and have not been involved in any lawsuit or prosecuted by the
local authority resulting from any breach of the ordinances and regulations.

Malaysia

Our
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-based technology which we plan to use.

Our
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.

We
comply with the above applicable ordinances and regulations in Malaysia and have not been involved in any lawsuit or prosecuted by the
local authority resulting from any breach of the ordinances and regulations.

China

A
portion of our acquired businesses are 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.

29

Employment
Contracts

The
Employment Contract Law was promulgated by the National People’s Congress’ Standing Committee on June 29, 2007, and took
effect on January 1, 2008, and was revised at the 30th meeting of the Standing Committee of the 11th National People’s Congress
on December 28, 2012. 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.

a.
Execution of employment contracts

Under
the Employment Contract Law, an employer shall sign a written employment contract with an employee within one month from the date of
commencement of work. In the event of contravention, the employee is entitled to double wages every month during the period from the
day after one month of employment to the day before one year from the commencement that is the employee may receive up to 11 months of
additional wages due to the employer’s failure to provide a signed employment contract. If the employer does not sign an employment
contract with the employee for more than 12 months since commencement, it will be deemed that an employment contract with a non-fixed
term has been signed between the employer and the employee from the day after one year of employment.

b.
Right to non-fixed term contracts

Under
the Employment Contract Law, an employee may request a non-fixed term contract without an employer’s consent to renew, if the employee
has worked for ten consecutive years. In addition, when signing the third employment contract, the 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. Under the non-fixed term contract
period, the employer shall not arbitrarily terminate the employment, unless the employee is dismissed under any of the following situations:
(1) serious violations of the employer’s rules and regulations; (2) serious dereliction of duty, embezzlement, and causing significant
harm to the employer; (3) establishing employment relations with other employers at the same time, which seriously affects the completion
of the work tasks of the unit, or refusing to make corrections upon request by the employer; (4) employers who use fraudulent or coercive
means or take advantage of others, to force the employer to enter into or modify employment contracts against their true intentions.
Unless the employee requests to enter a fixed-term contract, an employer who fails to enter a non-fixed term contract pursuant
to the Employment Contract Law is liable to pay the employee double his/her salary from the date the employment contract should be renewed
a non-fixed term.

c.
Compensation for termination or expiry of employment contracts

Under
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 revoked; (iii)
has been ordered to cease or is revoked or dissolved; or (iv) according to the provisions of the Enterprise Bankruptcy Law, implements
economic layoffs during a reorganization; (v) implements economic layoffs due to serious difficulties in production and operation; (vi)
undergoes a transfer of production, major technological innovation, or adjustment of its business model, and after changing the employment
contract, it is still necessary to lay off employees; (vii) experiences unforeseeable significant changes in the objective economic situation
based on which the employment contract was concluded resulting the inability to perform the terms of the employment contract signed by
both parties. Where an employee has been employed for less than one year but more than 6 months, such an employee will be deemed to have
completed one full year of service, and will be entitled to such compensation equivalent to one month’s salary; if an employee
has been employed for less than six months, the employee will be entitled to such compensation equivalent to half month’s salary.

d.
Trade union and collective employment contracts

Under
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 fails to be settled through negotiations. Employment Contract Law also permits a trade union to enter
a collective employee contract with an employer on behalf of all the employees.

Where
a trade union has not been formed, a representative appointed by an employee under the guidance of a high-level trade union may execute
the collective employment contract. Within districts below the 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.

As
a result of the Employment Contract Law, all our employees have executed standard written employment agreements with us. We have not
experienced any significant labor disputes or any difficulties in recruiting staff for our operations.

30

On
October 28, 2010, the National People’s Congress of China promulgated the PRC Social Insurance Law, which became effective on July
1, 2011. The decision to amend the Social Insurance Law of the People’s Republic of China was made by the Standing Committee of
the National People’s Congress on December 29, 2018, and came into effect on December 29, 2018. 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 an 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,
and it was revised again by the State Council in 2019 and implemented on March 24, 2019. PRC companies must register with applicable
housing fund management centers and establish a special housing fund account in an entrusted bank. All employees of PRC companies are required
to contribute to the housing funds, and PRC companies are required to make contributions to the housing funds for their employees.

The
Ministry of Human Resources and Social Security promulgated the Interim Provisions on Labor Dispatch on January 24, 2014. The 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 provide 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.

Foreign
Exchange Control and Administration

Foreign
exchange in China is primarily regulated by:

●
The
Regulations of the People’s Republic of China on Foreign Exchange Administration (revised in 2008) (“Foreign Exchange
Administration Regulations”); and

●
The
Administration Provisions of the Settlement, Sale and Payment of Foreign Exchange (1996).

Under
the Foreign Exchange Administration Regulations, 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.

Under
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.

As
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
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. For example:

●
Capital
contributions to our PRC subsidiaries, whether existing or newly established ones, must be approved by the Ministry of Commerce or
its local authorities;

●
Loans
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; and

●
Loans
from 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.

31

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. Circular 19 requires that RMB converted from the foreign currency-dominated capital of an 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.

An
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) direct account indirectly used for securities investment; (iii) 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; (iv) except for foreign-invested real estate enterprises, it shall not be used to pay related expenses for purchasing
non-self-use real estate. 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 into 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.

Violations
of the applicable circulars and rules may result in severe penalties, including substantial fines as set forth in the Foreign Exchange
Administration Regulations.

In
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.

Currently,
we are following the above applicable ordinances and regulations in China and have not been involved in any lawsuit or prosecuted by
the local authority resulting from any breach of the ordinances and regulations.

Insurance

We
do not currently 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.

Seasonality

Our
businesses are not subject to seasonality.

32

Employees

As
of March 30, 2026, we have 41 employees, located in the following territories:

Country/Territory

Number
of Employees

Malaysia

7

China

25

Hong
Kong

9

As
a result of the Employment Contract Law, all our employees in China have executed standard written employment agreements with us.

We
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 our contributions together with accrued returns regardless of their
length of service with the Company. For the years ended December 31, 2025, and 2024, the contributions were $21,583 and $27,070, respectively.

We
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 levels. For the years
ended December 31, 2025, and 2024, the MPF contributions by the Company were $19,942 and $23,385, respectively. We have not experienced
any significant labor disputes or any difficulties in recruiting staff for our operations.

We
are required to contribute to the Social Insurance Schemes and Housing Fund Schemes for all eligible employees in the PRC. For the years
ended December 31, 2025, and 2024, the contributions were $53,269 and $41,768, respectively.

Executive
Office and Other Information

Our
principal executive offices are located at B-23A-02, G-Vestor Tower, Pavilion Embassy, 200 Jalan Ampang, 50450 W.P. Kuala Lumpur, Malaysia.
Our principal telephone number is +60 3 8408 - 1788, 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.

We
are required to file periodic reports and current reports with the Securities and Exchange Commission (“SEC”). Access to
our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and our Proxy Statements, and any amendments
to these reports, is available on the SEC’s website at www.sec.gov.

33

Future
Development Plan

We
are in the process of conducting the following development plans.

1.
Security
Token Offering:

We
will continue our focus on security token offering (STO), a regulated way to raise funds through blockchains that keep investors protected
by regulated and asset-backed digital securities. This aligns with our mission to provide ethical, sustainable, and Shariah-compliant
investment opportunities to investors. We aim to tap into underserved communities by providing financial inclusion through digital asset
solutions. By expanding our reach in Southeast Asia and beyond, we seek to bridge the gap between traditional finance and blockchain
technology, ensuring accessibility and transparency for a wider range of investors.

2.
Expansion
of Corporate Finance Services:

We
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 (NYSE, NASDAQ or OTC Markets) or 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.

3.
ADAQ
Development:

ADAQ
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 equipping 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 the
New York Stock Exchange (NYSE), NASDAQ and Hong Kong Stock Exchange (HKEX).

●
ADAQ
has three major functions:

1.
Corporate Value Building Program

2.
Online platform and acceleration process to International Capital Market Listing

3.
Online Financial Information Market

We
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. An
increasing number of companies across Southeast 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.

●
Wealth
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 assistance with 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
put more effort into the development of our Wealth Network Database focusing on wealth-related information sharing.

For
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 increase market confidence. 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 synergy and licensed financial institutions to strengthen the capabilities and scope of our services with
the aim of widening our market coverage.

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