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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 20-F

(Mark one)

☐REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

For the fiscal year ended December 31,2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☐SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report:

For the transition period from __________ to ____________

Commission file number:001-41467

Magic Empire Global Limited

(Exact name of the Registrant as specified in its charter)

N/A

(Translation of registrant’s name into English)

British Virgin Islands

(Jurisdiction of incorporation or organization)

3/F,8 Wyndham Street

Central, Hong Kong

(Address of principal executive offices)

Ms. Vivien Tai

Tel:(852) 3577 8770

Email: meglir@giraffecap.com

3/F,8 Wyndham Street

Central, Hong Kong

(Name, Telephone, E-mail and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each classTrading symbol(s)Name of each exchange on which registered
Class A ordinary shares, no par valueMEGLThe Nasdaq Capital Market, LLC

Securities registered or to be registered pursuant to Section 12(g) of the Act:

Warrants, each to purchase one ordinary share

Title of Class

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:

None

The registrant had 20,256,099 ordinary shares issued and outstanding as of December 31, 2024. As of the date of this Annual Report, the registrant had 4,064,050 Class A ordinary shares and 1,000,000 Class B ordinary shares issued and outstanding.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

☒Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

☒Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

☐ Large Accelerated filer☐ Accelerated filer☒ Non-accelerated filer
☒ Emerging growth company

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.☐

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

☒ U.S. GAAP☐ International Financial Reporting Standards as issued by the International Accounting Standards Board☐ Other

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.

☐ Item 17 ☐ Item 18

If this is an Annual Report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

TABLE OF CONTENTS

FORWARD-LOOKING STATEMENTS4
DEFINITIONS5
PART I6
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS6
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE6
ITEM 3. KEY INFORMATION6
B. Capitalization and Indebtedness.6
C. Reason for the Offer and Use of Proceeds.6
D. Risk Factors.6
ITEM 4. INFORMATION ON THE COMPANY28
A. History and Development of the Company.28
B. Business overview.29
C. Organizational structure.40
D. Property, plant and equipment.41
ITEM 4A. UNRESOLVED STAFF COMMENTS41
ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS41
A. Operating results.41
B. Liquidity and capital resources.47
C. Research and development, patents and licenses, etc.51
D. Trend information.51
E. Critical accounting estimates51
ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES52
A. Directors and senior management.52
B. Compensation.53
C. Board Practices.54
D. Employees.57
E. Share Ownership.57
F. Disclosure of a registrant’s action to recover erroneously awarded compensation.57
ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS58
A. Major Shareholders.58
B. Related Party Transactions.58
C. Interests of Experts and Counsel58
ITEM 8. FINANCIAL INFORMATION58
A. Consolidated Statements and Other Financial Information.58
B. Significant Changes.59
ITEM 9. THE OFFER AND LISTING59
A. Offer and Listing Details.59
B. Plan of Distribution.59
C. Markets.59
D. Selling Shareholders.59
E. Dilution.60
F. Expenses of the Issue.60
ITEM 10. ADDITIONAL INFORMATION60
A. Share Capital.60
B. Memorandum and Articles of Association.60
C. Material Contracts.63
D. Exchange controls.63
E. Taxation.63
F. Dividends and paying agents.68
G. Statement by experts.68
H. Documents on display.69
I. Subsidiary Information69
ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK69
ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES69
PART II70
ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES70
ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS70
ITEM 15. CONTROLS AND PROCEDURES70
ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT71
ITEM 16B. CODE OF ETHICS71
ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES71
ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES72
ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS72
ITEM 16F. CHANGES IN REGISTRANT’S CERTIFYING ACCOUNTANT72
ITEM 16G. CORPORATE GOVERNANCE72
ITEM 16H. MINE SAFETY DISCLOSURE72
ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTION THAT PREVENT INSPECTIONS72
ITEM 16J. INSIDER TRADING POLICIES72
ITEM 16K. CYBERSECURITY72
PART III73
ITEM 17. FINANCIAL STATEMENTS73
ITEM 18. FINANCIAL STATEMENTS73
ITEM 19. EXHIBITS73
REPORTS OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMSF-2
CONSOLIDATED BALANCE SHEETSF-3
CONSOLIDATED STATEMENTS OF OPERATIONSF-4
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITYF-5
CONSOLIDATED STATEMENTS OF CASH FLOWSF-6
NOTES TO CONSOLIDATED FINANCIAL STATEMENTSF-7
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.