GRNQ on Nasdaq

Greenpro Capital Corp.

Greenpro Capital Corp. is an American management consulting services company based in Kuala Lumpur.1 Its shares trade on Nasdaq under the symbol GRNQ.1

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Last updated Oct 21, 2026.

Overview

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  • TickerGRNQ on Nasdaq1
  • IndustryServices-Management Consulting Services1
  • HeadquartersNV1
  • Incorporated inNV2
  • Business addressB-23A-02, G-Vestor Tower,, Pavilion Embassy, 200 Jalan Ampang,, 50450 W.P. Kuala Lumpur,, 504502
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

Mr. Loke Che Chan Gilbert (“Messrs. Lee and Loke”) in the British Virgin Islands.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

80.4%Gross margin4
-103.8%Operating margin4
-143.8%Net margin4
-40.7%Revenue growth, 20254
-83.9%Return on equity4
-$1.8MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Corporate Advisory Non Listing Services brought in 46% of the revenue Greenpro Capital Corp. broke down this way in fiscal 2025.

  1. Corporate Advisory Non Listing Services$1.1M446%down 26% from 2024
  2. Corporate Advisory Listing Services$780.4K434%down 53% from 2024
  3. Digital Revenue$168.2K47%down 49% from 2024
  4. Provision of a Digital Platform and Trading of Digital Assets$168.2K47%down 49% from 2024
  5. Rental of Real Estate Properties$61.3K43%down 20% from 2024
  6. Rental Revenue$61.3K43%down 20% from 2024
Products and services by year
Products and services20242025
Corporate Advisory Non Listing Services$1.4M$1.1M
Corporate Advisory Listing Services$1.7M$780.4K
Digital Revenue$327.8K$168.2K
Provision of a Digital Platform and Trading of Digital Assets$327.8K$168.2K
Rental of Real Estate Properties$76.7K$61.3K
Rental Revenue$76.7K$61.3K

Regions

[Canada] brought in 41% of the revenue Greenpro Capital Corp. broke down this way in fiscal 2025.

  1. [Canada]$856.3K441%down 15% from 2024
  2. Hong Kong$786.7K438%down 57% from 2024
  3. MY$430.5K421%down 34% from 2024
Regions by year
Regions20242025
[Canada]$1.0M$856.3K
Hong Kong$1.8M$786.7K
MY$655.7K$430.5K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue20¢$407.4K
  • Other costs80¢$1.7M
  • Income tax1¢$12.2K

Out of $2.1M in revenue.4 The company lost money this year.

Financial statements

Revenue567894$2.1M in 2025−54% since 2019
0$2.0M$4.0M$6.0M2019: $4.5M$4.5M20192020: $2.3M$2.3M2020−50%2021: $2.9M$2.9M2021+31%2022: $3.7M$3.7M2022+25%2023: $3.5M$3.5M2023−5%2024: $3.5M$3.5M2024+1%2025: $2.1M$2.1M2025−41%
Gross profit567894$1.7M in 2025−46% since 2019
0$1.0M$2.0M$3.0M$4.0M2019: $3.1M$3.1M20192020: $1.7M$1.7M2020−47%2021: $2.5M$2.5M2021+50%2022: $2.7M$2.7M2022+7%2023: $2.9M$2.9M2023+10%2024: $3.1M$3.1M2024+6%2025: $1.7M$1.7M2025−46%
Operating income567894-$2.2M in 2025+35% since 2019
-$3.0M-$2.0M-$1.0M02019: -$1.6M-$1.6M20192020: -$2.9M-$2.9M2020+83%2021: -$2.8M-$2.8M2021−5%2022: -$1.5M-$1.5M2022−45%2023: -$1.5M-$1.5M2023−1%2024: -$969.3K-$969.3K2024−36%2025: -$2.2M-$2.2M2025+122%
Net income567894-$3.0M in 2025+122% since 2019
-$15.0M-$10.0M-$5.0M0$5.0M2019: -$1.3M-$1.3M20192020: -$3.8M-$3.8M2020+180%2021: -$14.3M-$14.3M2021+281%2022: -$6.4M-$6.4M2022−56%2023: $1.1M$1.1M20232024: -$715.3K-$715.3K20242025: -$3.0M-$3.0M2025+317%

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2025-12-312024-12-312022-12-31
Total revenues$2.1M$3.5M
Total cost of revenues-$407.4K-$426.4K
GROSS PROFIT$1.7M$3.1M
General and administrative expenses (including $145,505 and $149,817 of general and administrative expenses to related parties for the years ended December 31, 2025, and 2024, respectively)-$3.8M-$4.0M
LOSS FROM OPERATIONS-$2.2M-$969.3K
Other income (including $38,729 and $47,635 of other income from related parties for the years ended December 31, 2025, and 2024, respectively)$67.3K$53.3K
Interest income (including $6,103 and $5,073 of interest income from related party for the years ended December 31, 2025, and 2024, respectively)$9.3K$19.2K
Gain on disposal of real estate held for investment$21.6K
Gain on disposal of investments (including $39,800 and $324,917 of related party investments for the years ended December 31, 2025, and 2024, respectively)$39.8K$324.9K
Reversal of impairment of investment (including $150 of related party investment for the year ended December 31, 2025)$150
Interest expense-$883-$1.1K
Impairment of property and equipment-$813.6K
Impairment of real estate held for sale-$96.8K
Impairment of other investments (including $12,073 and $87,425 of related party investments for the years ended December 31, 2025, and 2024, respectively)-$12.1K-$87.4K
Impairment of goodwill-$6.0K-$82.6K-$263.2K
Fair value loss on digital assets-$4.8K
Total other (expenses) income-$817.7K$247.9K
LOSS BEFORE INCOME TAX-$3.0M-$721.4K
Income tax expense-$12.2K-$4.4K
NET LOSS-$3.0M-$725.8K
Net loss attributable to noncontrolling interests$10.5K
NET LOSS ATTRIBUTED TO COMMON SHAREHOLDERS OF GREENPRO CAPITAL CORP.-$3.0M-$715.3K
- Foreign currency translation income (loss)$143.9K-$25.9K
COMPREHENSIVE LOSS-$2.8M-$741.2K
NET LOSS PER SHARE, BASIC-$0.37-$0.09
NET LOSS PER SHARE, DILUTED-$0.37-$0.09
WEIGHTED AVERAGE NUMBER OF COMMON STOCK OUTSTANDING, BASIC8.0M shares7.6M shares
WEIGHTED AVERAGE NUMBER OF COMMON STOCK OUTSTANDING, DILUTED8.0M shares7.6M shares
Cost of service revenue$407.4K$426.4K
Impairment of related party investments$12.1K$87.4K
Loss on disposal of investment ,related party$100

Compare Greenpro Capital Corp. with another company

Corporate structure

Greenpro Capital Corp. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Greenpro Capital Corp.

  • Lee C.k. Filed SCHEDULE 13D/A on Greenpro Capital Corp., latest Jul 6, 2026 (3 filings since Apr 30, 2026)
  • Greenpro Capital Corp. NV

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Greenpro Capital Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Furniture and fixtures$52.1K4 Dec 31, 2025$52.1K4 Dec 31, 20240%
Leasehold improvements$92.6K4 Dec 31, 2025$92.6K4 Dec 31, 20240%
Property and equipment, before depreciation$2.5M4 Dec 31, 2025$3.3M4 Dec 31, 2024−24.6%
Accumulated depreciation$1.1M4 Dec 31, 2025$1.1M4 Dec 31, 2024+5.4%
Property and equipment, net$1.4M4 Dec 31, 2025$2.2M4 Dec 31, 2024−39.0%
Finance-lease assets$15.8K4 Dec 31, 2025$20.3K4 Dec 31, 2024−22.1%
Operating-lease assets (leased space)$19.9K4 Dec 31, 2025$19.9K4 Dec 31, 2024−0.2%

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$378.2K4 Dec 31, 2025$352.9K4 Dec 31, 2024+7.2%
Real estate investments, at cost$555.4K4 Dec 31, 2025$919.7K4 Dec 31, 2024−39.6%
Real estate accumulated depreciation$177.3K4 Dec 31, 2025$202.6K4 Dec 31, 2024−12.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$636.7K4 Dec 31, 2025$1.1M4 Dec 31, 2024−43.4%
Equity securities at fair value$8.3M4 Dec 31, 2025$8.3M4 Dec 31, 20240%
Stakes in other companies (equity method)$12.1K4 Dec 31, 2024$100.1K9 Dec 31, 2023−87.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$6.0K4 Dec 31, 2024$82.6K9 Dec 31, 2023−92.7%
Indefinite-lived intangibles (excluding goodwill)$351.8K4 Dec 31, 2025$345.8K4 Dec 31, 2024+1.7%
Finite-lived intangibles, gross$480.8K4 Dec 31, 2025$480.8K4 Dec 31, 20240%
Accumulated amortization$480.3K4 Dec 31, 2025$480.1K4 Dec 31, 2024+0.1%
Finite-lived intangibles, net$4374 Dec 31, 2025$7094 Dec 31, 2024−38.4%

Properties, in its own words

Our principal executive offices are located at B-23A-02, G-Vestor Tower, Pavilion Embassy, 200 Jalan Ampang, 50450 W.P. Kuala Lumpur, Malaysia.

Location · Owner · Use

The rest of Item 2

D-07-06 and D-07-07~Sky Park @ One City, Jalan USJ 25/1, 47650 Subang Jaya, Selangor Darul Ehsan, Malaysia · Greenpro Resources Sdn. Bhd. · Holding investment for rental income and capital gains

Units 6, 7 and 8, 22/F., Di Wang Building, No. 5002 Shennan Dong Road, Luohu District, Shenzhen, China · Greenpro Management Consultancy Limited · Self-use business premises

Units A8, B1, B6, B7, C9, D8 of 14/F. and roofs, Wang Cheung Industrial Building, 6 Tsing Yeung Circuit, Tuen Mun, New Territories, Hong Kong · Forward Win International Limited · Holding investment for rental income and capital gains

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

Item 2 of the 10-K filed Mar 30, 2026.3

Leadership

Who has led Greenpro Capital Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Lee C.k.2016–now

Chief financial officer

  1. Loke Gilbert2016–2021
20202025
Board members and other officers (14)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorChe Chan Gilbert Loke named Jun 11, 2025 to Jul 6, 202627
  • Executive Officer, DirectorChong Kuang Lee named Jun 11, 2025 to Jul 6, 202627
  • DirectorChee Wah Chew named Jun 11, 2025 to Jul 6, 202627
  • DirectorSrirat Chuchottaworn named Jun 11, 2025 to Jul 6, 202627
  • DirectorChristopher Yu Nien Wong named Jun 11, 2025 to Apr 30, 202628

Former names

  • Greenpro, Inc.Jan 27, 2014 to Feb 13, 20152

Timeline

  1. Sep 28, 20268-K Completed an acquisition or sale29
  2. Sep 23, 20268-K Entered a material agreement; Other events30
  3. Aug 3, 20268-K Bylaws or fiscal year changed; Regulation FD disclosure31
  4. Jul 6, 20268-K Entered a material agreement; Unregistered sale of shares32
  5. Jul 1, 20268-K Entered a material agreement33
  6. Jun 26, 20268-K Shareholder vote; Other events34
  7. Jun 2, 20268-K Entered a material agreement; Unregistered sale of shares35
  8. Apr 30, 20268-K Entered a material agreement; Unregistered sale of shares36
  9. Apr 24, 20268-K Executive or director change37
  10. Apr 21, 20268-K Entered a material agreement; Unregistered sale of shares38
  11. Apr 6, 20268-K Entered a material agreement; Unregistered sale of shares39
  12. Feb 17, 20268-K Entered a material agreement40
  13. Feb 3, 2016New chief executive Lee C.k. becomes CEO13

Calendar

Coming up

  1. Nov 12, 2026Reports results for the quarter ending Sep/202641

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

126 filings to the SEC since October 2021: 6 annual reports, 18 quarterly reports, 41 major events, 10 insider forms, 3 large holders, 8 private raises, 40 other. The latest 20:

  1. Sep 28, 20268-K EDGAR
  2. Sep 23, 20268-K EDGAR
  3. Aug 5, 202610-Q EDGAR
  4. Aug 3, 20268-K EDGAR
  5. Jul 6, 2026DEF 14C EDGAR
  6. Jul 6, 20268-K EDGAR
  7. Jul 6, 2026SCHEDULE 13D/A EDGAR
  8. Jul 6, 20264 EDGAR
  9. Jul 6, 2026D EDGAR
  10. Jul 1, 20268-K EDGAR
  11. Jun 26, 2026PRE 14C EDGAR
  12. Jun 26, 20268-K EDGAR
  13. Jun 2, 20264 EDGAR
  14. Jun 2, 2026D EDGAR
  15. Jun 2, 20268-K EDGAR
  16. Jun 2, 2026SCHEDULE 13D/A EDGAR
  17. May 8, 202610-Q EDGAR
  18. Apr 30, 20264 EDGAR
  19. Apr 30, 2026D EDGAR
  20. Apr 30, 20268-K EDGAR

The 126 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 3 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 30, 2026LEE CHONG KUANGChief Executive OfficerBuy65,591$1.52$99.7KForm 4
May 29, 2026LEE CHONG KUANGChief Executive OfficerBuy28,949$1.73$50.1KForm 4
Apr 28, 2026LEE CHONG KUANGChief Executive OfficerBuy107,310$2.33$250.0KForm 4
Dec 7, 2021LOKE CHE CHAN GILBERTChief Financial OfficerSale385,000$1.00$385.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • Lee C.k.SCHEDULE 13D/A, 3 filings Apr 30, 2026 to Jul 6, 202642

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$19.5M 2025–2026
Money received by yearMoney received by year, 2025–2026: $19.5M in all. Private raises (Form D) $19.5M.$0$5M$10M$15M$20M2025 · Private raises (Form D): $890.0K20252026 · Private raises (Form D): $18.6M2026
Figures by year
YearPrivate raises (Form D)Total
2026$18.6M$18.6M
2025$890.0K$890.0K

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Jun 30, 2026Raised $100,000 in a private offering of equity27 Form D: 1 investor so far Form D
  2. May 29, 2026Raised $50,000 in a private offering of equity43 Form D: 1 investor so far Form D
  3. Apr 28, 2026Raised $250,000 in a private offering of equity28 Form D: 1 investor so far Form D
  4. Apr 16, 2026Raised $1.2 million in a private offering of equity44 Form D: 1 investor so far Form D
  5. Mar 31, 2026Raised $17 million in a private offering of equity45 Form D: 6 investors so far Form D
  6. Oct 1, 2025Raised $130,000 in a private offering of equity46 Form D: 4 investors so far Form D
  7. Jun 23, 2025Raised $260,000 in a private offering of equity47 Form D: 1 investor so far Form D
  8. Jun 10, 2025Raised $500,000 in a private offering of equity48 Form D: 5 investors so far Form D

SEC filer profile

How Greenpro Capital Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARGreenpro Capital Corp.1
  • CIK0001597846
  • Employer ID (EIN)98-11468213
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company3
  • Incorporated inNevada3
  • Fiscal year endsDecember 311
  • Industry code (SIC)8742 Services-Management Consulting Services1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business addressB-23A-02, G-Vestor Tower,, Pavilion Embassy, 200 Jalan Ampang,, 50450 W.P. Kuala Lumpur,, Malaysia 50450, Malaysia1
  • Phone60-3 8408 17881
  • Shares outstanding18,127,663 as of Aug 5, 202611
  • Public float$7.6M as of Jun 30, 20253
  • AuditorSFAI MALAYSIA PLT, Malaysia PCAOB ID 7167; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceJan 27, 20141
  • Filings330 in all: 8-K (101), 10-Q (36), 4 (30), CORRESP (18), UPLOAD (16), 10-K (12), 3 (12), S-3/A (9)1
    All 36 form types

    D (8), DEF 14A (8), 8-K/A (7), S-1/A (7), 5 (6), DEFA14A (6), 10-Q/A (5), 424B3 (5), DEF 14C (4), EFFECT (4), PRE 14C (4), SC 13G (4), 10-K/A (3), NT 10-K (3), SC 13D (3), SCHEDULE 13D/A (3), 5/A (2), DEFR14C (2), PRE 14A (2), S-1 (2), 10-QT (1), 4/A (1), 8-A12B (1), 8-A12G (1), CERT (1), NT 10-Q (1), POS AM (1), S-3 (1)

  • Latest filingsAnnual report (10-K) Mar 30, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Oct 15, 2024
    Latest 8-K (8-K) Sep 28, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.0001 par valueGRNQNASDAQ

From the cover page of the 10-K filed Mar 30, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Greenpro Capital Corp. names in Item 1A of its 10-K filed Mar 30, 2026: 47 risks under these headings, as written.3

  • Risks Related to Natural Disasters and Public Health Crises
  • We may be adversely affected by natural disasters, pandemics, and other catastrophic events, and by human-caused problems such as terrorism, which could disrupt our business operations, and our business continuity and disaster recovery plans may not adequately protect us from a serious disaster.
  • Risks Related to Our Business
  • We are not currently profitable and may not become profitable.
  • We may not be able to continue to operate as a going concern.
  • Our operating results may prove unpredictable which could negatively affect our profit.
  • Our operating results have and will significantly fluctuate, and this will be due to the highly volatile nature of crypto.
  • Our revenue is dependent on the prices of crypto assets and the volume of transactions conducted on our platform. If such a price or volume declines, our business, operating results, and financial condition would be adversely affected, and the price of our Common Stock could decline.
  • If we are unable to gain any significant market acceptance for our service or establish a significant market presence, we may be unable to generate sufficient revenue to continue our business.
  • Management’s ability to implement the business strategy may be slower than expected and we may be unable to generate a profit.
  • Competitors may enter this sector with superior service which would affect our business adversely.
  • Our use of open-source and third-party software could impose limitations on our ability to commercialize our services.
The other 37 risks
  • The security of our computer systems may compromise and harm our business.
  • Adverse development in our existing areas of operation could adversely impact our results of operations, cash flows, and financial condition.
  • Risks Related to Crypto Assets
  • Due to unfamiliarity and some negative publicity associated with crypto asset platforms, confidence or interest in crypto asset platforms may decline.
  • Future developments regarding the treatment of crypto assets for U.S. and foreign tax purposes could adversely affect our business, operating results, and financial condition.
  • The nature of our business requires the application of complex financial accounting rules, and there is limited guidance from accounting standard setting bodies on certain topics. If financial accounting standards undergo significant changes, our operating results could fluctuate.
  • Risks Relating to Green-X and Its Business of Digital Asset Exchange
  • The slowing or stopping of the development or acceptance of blockchain networks and blockchain-based assets could have a material adverse effect on the successful development and adoption of our business.
  • The future development and growth of the digital asset industry is subject to a variety of factors that are difficult to predict and evaluate.
  • Our operating results have and will significantly fluctuate, due to inherent volatility associated with the digital asset industry, including, but not limited to, the price of digital assets, regulatory scrutiny of certain digital assets or related products and services, or changes in applicable laws.
  • Our failure to safeguard and manage our and our users’ fiat currencies and digital assets could adversely impact on our business, operating results, and financial condition.
  • The loss or destruction of a private key required to access our or our users’ digital assets may be irreversible. If we are unable to access our private keys or if we experience a hack or other data loss relating to the digital assets that we are holding on behalf of users, our users may be unable to access their digital assets, which could harm user trust in us and our products and services and cause regulatory scrutiny.
  • Risks Related to Cybersecurity
  • Cyberattacks and security breaches of our platform, or those impacting on our customers or third parties, could adversely affect our brand, reputation, business, operating results, and financial condition.
  • We obtain and process a large amount of sensitive customer data. Any real or perceived improper use of, disclosure of, or access to such data could harm our reputation, as well as adversely affect our business, operating results, and financial condition.
  • Risks Related to Doing Business in Southeast Asia and East Asia
  • We face the risk that changes in the world economy and political developments in Malaysia may adversely affect our business.
  • You may have difficulty enforcing judgments against us.
  • Payment of dividends is subject to restrictions under Nevada, Hong Kong, Malaysia, and the PRC laws.
  • Risks Related to Doing Business in Hong Kong and China
  • The introduction of new laws or changes to existing laws by the PRC government may adversely affect our business.
  • We face the risk that changes in the policies of the PRC government could have a significant impact upon the business we may be able to conduct in the PRC and the profitability of such business.
  • The recent state government interference in business activities on U.S.-listed Chinese companies may negatively impact our existing and future operations in Hong Kong and China.
  • Our shares may be delisted and prohibited from trading in the United States under the Holding Foreign Companies Accountable Act, or the HFCAA, as amended by the Accelerating Holding Foreign Companies Accountable Act, if the PCAOB is unable to inspect or investigate completely our auditors. The delisting of our shares, or the threat of their being delisted, may materially and adversely affect the value of your investment.
  • Changes in China’s economic, political, or social conditions or government policies could have a material adverse effect on our future business and operations.
  • Interpretation of PRC laws and the implementation of National Security Law in Hong Kong involve uncertainty.
  • We may be exposed to liabilities under the Foreign Corrupt Practices Act and Chinese anti-corruption law.
  • The PRC government may issue further restrictive measures in the future.
  • Our Hong Kong and China subsidiaries may be subject to a variety of laws and other obligations regarding cyber security and data protection, and any failure to comply with applicable laws and obligations could have a material and adverse effect on their business, financial condition, and results of operations.
  • It may be difficult for overseas shareholders and/or regulators to conduct investigations or collect evidence within China.
  • Failure to comply with laws and regulations applicable to our business in China could subject us to fines and penalties and could also cause us to lose customers or otherwise harm our business.
  • The recent joint statement by the SEC, proposed rule changes submitted by NASDAQ, and an act passed by the U.S. Senate and the U.S. House of Representatives, all call for additional and more stringent criteria to be applied to U.S.-listed companies with significant operations in China. These developments could add uncertainties to our future offerings, business operations, share price and reputation.
  • NASDAQ may apply additional and more stringent criteria for our continued listing.
  • We face risks related to potential delisting from the Nasdaq Capital Market due to non-compliance with minimum bid price requirements.
  • The current tension in international trade, particularly regarding U.S. and China trade policies, may adversely impact our business, financial condition, and results of operations.
  • The Hong Kong legal system embodies uncertainties which could limit the legal protections available to the Company.
  • The Standing Committee of the National People’s Congress (“SCNPC”) or PRC regulatory authorities may in the future promulgate laws, regulations or implementing rules that require us or our subsidiaries to obtain regulatory approval from Chinese authorities before or after listing in the U.S.
  • The Opinions recently issued by the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council, and the New Overseas Listing Rules promulgated by the CSRC may subject us to additional compliance requirements in the future.
  • Risks Related to Our Common Stock
  • Future sales of substantial amounts of the shares of Common Stock by existing shareholders could adversely affect the price of our Common Stock.
  • In the event our shares trade under $5.00 per share, they will be considered penny stock. Trading in penny stocks has many restrictions, and these restrictions could severely affect the price and liquidity of our shares.
  • We do not anticipate paying cash dividends on our Common Stock in the foreseeable future.
  • Together, our Chief Executive Officer, Mr. Lee, Chong Kuang, and our Chief Financial Officer, Mr. Loke, Che Chan Gilbert own a large percentage of our outstanding stock and could significantly influence the outcome of our corporate matters.

Legal proceedings

On August 24, 2021, Millennium Fine Art Inc. (“MFAI”) filed a complaint against the Company in the 8th District Court of Clark County, State of Nevada, captioned Millennium Fine Art Inc. v. Greenpro Capital Corp. (Case No. A-21-840033-B). MFAI alleges that on or about April 21, 2021, MFAI and the Company entered into a contract (the “Contract”) pursuant to which MFAI agreed to create approximately 7,700 non-fungible tokens (“NFTs”) in exchange for $16 million in shares of the Company’s common stock. MFAI contends that the Company breached the Contract by refusing delivery of the NFTs and failing to issue the agreed-upon shares. The complaint asserts cause of action for breach of contract, special damages, and promissory estoppel, and seeks approximately $66 million in damages, specific performance of the alleged Contract, and attorney’s fees and costs.

On October 18, 2021, the Company filed a motion, denying all the material allegations of the complaint, and seeking to stay the litigation and compel arbitration pursuant to the purported the Contract’s arbitration clause. The Company’s motion sought only to enforce the arbitration provision and otherwise denied the existence of a valid and binding contract. Over MFAI’s opposition, the court granted the Company’s motion and stayed the proceeding pending arbitration.

On or about April 1, 2022, MFAI filed a Request for Arbitration with Judicial Arbitration and Mediation Services, Inc. (JAMS). The Company subsequently filed its Statement of Answer, denying the material allegations and asserting that the claims are without merit. The arbitration remains in the discovery phase, and the Company intends to vigorously defend this matter. A final arbitration hearing is currently scheduled to be held in Las Vegas, Nevada, from July 14 through July 17, 2026.

The opening of Item 3, Legal Proceedings.3

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