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美国

证券交易委员会

华盛顿特区 20549

表格 10-K

(选择一项)

☒ 根据《1934年证券交易法》第13或15(d)条的年度报告

截至2026年6月30日的财年

或

☐ 根据《1934年证券交易法》第13或15(d)条的过渡报告

从_________至_________的过渡期

委员会文件编号：333-269343

Protopia Global Holdings Inc.

(注册人章程中指定的全名)

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

开曼群岛		00-0000000 不适用
州或其他司法管辖区成立或组织		(I.R.S. 雇主识别编号)

408B&C室，4^层楼, Lippo Sun Plaza, 第28号广东道, 尖沙咀，九龙, 香港		00000 不适用
(主要执行办公室地址)		(邮政编码)

注册人的电话号码，包括地区代码： (852) 6686-0563

根据《法案》第12(b)条注册的证券：

\n \n \n \n \n \n \n \n \n \n \n \n \n

每类证券的名称		交易符号		每种证券的注册交易所名称
不适用		不适用		不适用

根据《法案》第12(g)条注册的证券：

不适用

(证券类别名称)

通过勾选方框表明注册人是否为《证券法》第405条中定义的知名资深发行人。 ☐ 是 ☒ 否

通过勾选方框表明注册人是否不需要根据《法案》第13或第15(d)条提交报告。 ☐ 是 ☒ 否

通过勾选方框表明注册人(1)是否已提交根据《1934年证券交易法》第13或15(d)条在前12个月内（或注册人需要提交此类报告的较短期间）要求提交的所有报告，以及(2)是否在过去90天内受到此类提交要求的约束。 ☐ 是 ☒ 否

注册人是自愿提交人，不受《1934年证券交易法》第13或15(d)条的提交要求约束。然而，注册人已提交根据《1934年证券交易法》第13或15(d)条在前12个月内要求提交的所有报告。

通过勾选方框表明注册人是否在前12个月内（或注册人需要提交此类文件的较短期间）根据S-T法规第405条（本章第232.405条）提交了所有要求提交的交互式数据文件。 ☒ 是 ☐ 否

用复选标记表明注册人是大型加速申报者、加速申报者、非加速申报者、较小的报告公司，还是新兴成长公司。请参见《交易法》第12b-2条中“大型加速申报者”、“加速申报者”、“较小的报告公司”和“新兴成长公司”的定义。

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

大型加速申报者	☐	加速申报者	☐
非加速申报者	☐	较小的报告公司	☒
	新兴成长公司	☒

如果是一家新兴成长公司，请用复选标记表明注册人是否已选择不使用《交易法》第13(a)条规定的任何新修订的财务会计标准的延长过渡期。 ☐

请用复选标记表明注册人是否已由为其审计报告提供或出具的注册公众会计公司提交了其管理层对财务报告内部控制有效性的评估报告和鉴证报告。 ☐

如果证券根据《法案》第12(b)条注册，请用复选标记表明注册人提交的文件中包含的财务报表是否反映了对以前发布的财务报表的更正。 ☐

请用复选标记表明这些更正中的任何一项是否为需要根据§240.10D-1(b)对注册人任何高管在相关回收期内收到的基于激励的补偿进行回收分析的重述。 ☐

请用复选标记表明注册人是否为壳公司（根据《法案》第12b-2条定义）。 ☐ 是 ☒ 否

截至2025年12月31日，即注册人最近完成的第二财季的最后一个营业日，注册人有21,500,000股普通股流通，其中1,100,000股投票股票由注册人的非关联方持有。

注册人非关联方持有的股票总价值无法计算，因为注册人的普通股未在国家级证券交易所上市或由OTC Markets Group报价。

截至2026年10月7日，注册人已发行和流通的普通股为21,500,000股。

Protopia Global Holdings Inc.

表格 10-K

截至2026年6月30日的财年

第一部分。	\n
	项目 1。	业务。	1
	项目 1A。	风险因素。	5
	项目 1B。	未解决的工作人员意见。	5
	项目1C。	网络安全。	5
	项目 2。	财产。	6
	项目 3。	法律诉讼。	6
	项目 4。	矿山安全披露。	6

第二部分。	\n
	项目 5。	注册人的股票市场、相关股东事项和发行人购买权益证券。	7
	项目 6。	保留。	7
	项目 7。	管理层讨论与分析财务状况和经营成果。	8
	项目 7A。	市场风险的定量和定性披露。	11
	第8项。	财务报表和补充数据。	F-1
	第9项。	与会计师在会计和财务披露方面的变更和分歧。	12
	第9A项。	控制和程序。	12
	第9B项。	其他信息。	13
	第9C项。	关于阻止检查的外国司法管辖区的披露。	13

第三部分。	\n
	第10项。	董事、高管和公司治理。	14
	第11项。	高管薪酬。	17
	第12项。	特定受益所有人和管理层的证券所有权及相关股东事项。	18
	第13项。	有关与董事独立性和相关交易的关系。	19
	第14项。	主要会计费用和业务。	20

第四部分。	\n
	第15项。	附录和财务报表附表。	21
	第16项。	10-K表格摘要。	21
	\n	签名。	22

前瞻性声明

本10-K表格年度报告（“年度报告”）包含前瞻性声明，涉及风险和不确定性。我们使用诸如“项目”、“相信”、“预期”、“计划”、“估计”、“打算”、“应该”、“会”、“可能”或“可以”等词语，或未来时态的动词，以及传达类似含义和未来事件或结果不确定性的词语和短语，以识别这些前瞻性声明。

前瞻性声明基于我们目前的假设、期望和信念，涉及未来的发展及其对我们业务的潜在影响。在某些情况下，您可以通过以下词语识别前瞻性声明：“可能”、“将”、“可以”、“应该”、“预期”、“打算”、“计划”、“预期”、“相信”、“大约”、“估计”、“预测”、“项目”、“潜在”、“继续”、“持续”或这些术语的否定形式或其他类似术语，尽管没有这些词语并不一定意味着该声明不是前瞻性声明。这些前瞻性声明可能涉及已知和未知的风险、不确定性和其他因素，这些因素可能导致我们的实际结果、表现或成就与任何前瞻性声明中明示或暗示的未来结果、表现或成就有重大差异。这些前瞻性声明包括有关我们运营的可能或假设的未来结果的信息，包括关于我们业务策略的声明；未来现金流；融资计划；管理层的计划和目标；流动性、完成融资的能力、与公司签订未来协议的能力以及成功扩展我们的业务运营和产品销售的计划。我们主要基于我们目前的期望和对可能影响我们财务状况、经营成果、业务策略和财务需求的未来事件和财务趋势的预测来制定这些前瞻性声明。

我们无法预测所有风险和不确定性。因此，此类信息不应被视为我们对上述声明中描述的结果或条件，或我们目标和计划将得以实现的陈述，我们不对任何此类前瞻性声明的准确性或完整性承担任何责任。请仔细阅读并考虑我们在本年度报告中以及向证券交易委员会（“委员会”）提交的其他报告中所做的各种披露。所有前瞻性声明仅针对本年度报告的日期。除法律要求外，我们不承担更新或修订任何前瞻性声明或其他本文件中包含的信息的义务，无论是否由于新信息、未来事件、导致此类声明的基础事件、条件、情况或假设发生变化，或其他原因。

第一部分

项目 1. 业务。

业务概览

Protopia Global Holdings Inc. 是一家于 2022 年 8 月 18 日根据开曼群岛法律成立的控股公司，自身没有实质性的业务运营。它通过其全资运营子公司 Protopia International Company Limited（“Protopia HK”）在香港开展所有业务，Protopia HK 于 2022 年 8 月 26 日在香港成立，并于 2022 年底开始业务运营。Protopia HK 是一家咨询和顾问公司，同时也为在香港有业务运营的小型和中型公司提供项目管理服务，以帮助其进入国际资本市场。我们通过提供咨询、联络和协调服务，帮助这些公司完成在美国全国认可的股票交易所（如纳斯达克全球市场、纳斯达克资本市场、纽约证券交易所美国市场或场外交易市场公司（OTCQX、OTCQB 和 OTCID/Pink））的首次上市过程。我们还协助这些或其它在国家证券交易所或 OTCQX 和 OTCQB 上市的上市公司维持持续的资格要求，并遵守适用的上市规则、法规或标准。虽然我们的客户主要位于香港，但我们打算在有机会时将服务的分布扩展到中国大陆。

我们于 2023 年 5 月 12 日向证券交易委员会（“委员会”）提交的表格 S-1 注册声明中，注册了一项由我们自行承销的尽力而为的公开募股，发行 1,000,000 股我们面值为 0.00001 美元的普通股（每只普通股，合称“普通股”）。该注册声明由委员会宣布生效。我们并未在该公开募股中出售任何普通股，并于 2023 年 11 月 8 日终止。

自成立之日起，我们的主要精力都投入到开发活动中，包括以下内容：

\n \n \n \n \n

获得启动资金；

\n \n \n \n

开发我们的服务；

\n \n \n \n

在市场中寻找可能的商业联盟；以及

\n \n \n \n

积极寻求客户使用我们的服务。

主要服务和主要市场

我们作为项目经理，为非美国公司提供咨询、联络和协调服务。此外，当我们的客户成为上市公司后，我们将为其提供与遵守相关司法管辖区和监管机构要求相关的持续咨询服务。我们打算提供的此类咨询、联络和协调服务包括但不限于以下内容：

\n \n \n \n

在美国境外为客户提供公司注册和设立服务；

\n \n \n \n

开发和准备商业和运营计划；

\n \n \n \n

提供法律文件形式，供客户聘请的持牌律师进一步审查和准备；

\n \n \n \n

建立会计控制系统；

\n \n \n \n

为客户推荐独立的会计师事务所；

\n \n \n \n

为客户推荐独立的第三方法律和其他专业服务公司；

\n \n \n \n

作为客户与专业服务公司之间信息和文件流动的中介；以及

\n \n \n \n

其他根据客户要求或需要提供的普通咨询服务。

当我们的客户聘请我们为其在美国进行证券首次上市的流程提供咨询服务时，我们将提供与初始资格要求相关的商业建议，并评估该客户拟议的商业计划，并讨论对该商业计划的拟议建议。

我们与任何独立的第三方会计、法律或其他专业服务公司之间没有预先安排的协议，以向我们的客户提供服务。我们可能会向客户提供此类专业人士的名单，供其选择和决定他们希望聘请哪些专业人士。

最新进展

2026年6月24日，我们与Capstone 72, Inc.（“Capstone”，一家俄亥俄州公司）签订了《委托服务协议》（“咨询协议”），以提供与Capstone拟议的首次公开募股相关的咨询服务，并协助Capstone回应Nasdaq Stock Market, LLC提供的监管查询和审查意见。该咨询协议反映了我们为寻求进入美国资本市场的中小型企业提供咨询服务的持续扩展。根据咨询协议，公司将以25,000美元的价格向Capstone提供上述咨询服务，其中50%须在签署咨询协议时支付，其余50%将在Capstone完成首次公开募股并在纳斯达克资本市场上市后支付。

我们服务的专业协议条款.

\n \n \n \n

公司拟执行的专业服务的描述和范围，通常包括：

\n \n \n \n

协助根据开曼群岛法律设立新实体，以及根据中华人民共和国香港特别行政区法律设立将成为其全资子公司的公司，

\n \n \n \n

开发和准备商业和运营计划，可能包括

\n \n \n \n

法律文件准备及其他咨询服务，以及

\n \n \n \n

ii.

将客户转介给独立的第三方法律及其他专业服务公司和

\n \n \n \n

iii.

作为客户与专业服务公司之间信息和文件流通的联络人，具体由客户决定。

所有与客户的咨询服务协议均包含明确的免责声明，说明我们不向客户提供法律建议。

\n \n \n \n

项目时间表和付款条款（典型合同，不具约束力）：

\n \n \n \n

项目管理费用的45%在签署我们标准的咨询服务协议时支付；

\n \n \n \n

项目管理费用的45%在公司实质性履行咨询服务协议中描述的服务时支付；以及

\n \n \n \n

项目管理费用的剩余10%在项目完成后支付。

\n \n \n \n

项目时间表和付款条款：

\n \n \n \n

进入国际资本市场 – 在美国发行证券为非美国公司提供了比当地非美国股票交易所更多的流动性。反过来，这增加了其产品和服务的市场吸引力，并且如果需要，相比在本地交易所上市，可以获得更多范围的资本融资。

\n \n \n \n

进入新产品和服务的新市场 – 在美国上市可以提升品牌在美国的知名度；因此，美国公司可能更倾向于与在美国上市的外国公司进行业务往来，而不是与私人持有或在外国交易所上市的公司。

\n \n \n \n

上市成本 – 在非美国股票交易所（如中国或香港）上市，相比在OTC Markets Group（OTCQX、OTCQB和Pink）上市，专业费用要高得多。此外，这些非美国股票交易所通常有上市要求，小型发展期公司无法满足。

我们在东亚的咨询行业中从事企业咨询服务领域。我们服务的市场主要由希望进入国际资本市场（特别是美国）的非美国公司组成。

我们认为，根据1940年《投资公司法》第3条的规定，我们目前不符合“投资公司”的定义。《投资公司法》将投资公司定义为：(a) 主要或拟主要从事证券投资、再投资或交易业务的发行人，(b) 从事或拟从事分期付款面额证书业务的发行人，或已从事此类业务且仍有此类证书未偿付的发行人，或(c) 从事或拟从事证券投资、再投资、拥有、持有或交易业务的发行人，并且拥有或拟收购价值超过发行人总资产（不包括政府证券和现金项目）40%的投资证券。我们从事的是管理非美国公司上市的业务。我们在上市任务中收到或购买的客户公司普通股只是我们主营业务的附带事项，通常在至少12个月的持有期后向公众出售。我们不计划持有价值超过我们总资产40%的投资证券。然而，如果我们将来无意中符合《投资公司法》对“投资公司”的定义，且没有可行的豁免，我们将注册为投资公司。

我们服务的分发方式

我们目前向总部位于香港的公司提供服务。我们的营销策略是与管理层之前业务伙伴、第三方律师事务所和会计事务所及其他专业服务公司建立战略联盟，通过这些方式我们预计可以以最低成本获得推荐并提升品牌曝光度。我们已就产生推荐事宜与一些个人和实体进行了接触，尽管我们不能保证一定能成功。

如果我们收到独立顾问的直接推荐，我们会在责任由我们共同承担的情况下作为联合项目经理共同服务客户，或者在推荐顾问未参与服务提供的情况下作为唯一项目经理。在联合项目管理的情况下，不会向推荐顾问支付推荐费。相反，我们会与顾问分享联合项目管理费，通常基于我们应得的标准联合项目管理费现金部分的60%，以及任何股票补偿的协商金额。如果现金补偿超过我们标准金额，超出部分的分享将根据协商确定。在唯一项目管理的情况下，我们仅向推荐顾问支付推荐费。我们推荐费的最大金额为唯一项目管理费的15%。每个单独项目的推荐费由协商确定，并且仅在推荐任务成功完成后支付。我们标准联合项目管理费的当前现金部分为15万美元。我们当前的唯一项目管理费为9万美元至15万美元，具体取决于协商，加上协商确定的股票补偿金额。我们的董事定期审查这些费用，并根据当前市场条件调整以增强我们的竞争力。

如果由于任何这些方的推荐，我们作为联合项目经理或唯一项目经理成功完成任务，我们预计会向任何股东、高管、董事和员工支付推荐费。我们向这些方支付的推荐费金额由协商确定，并与向独立顾问支付的推荐费一致，其最高为我们的总项目管理费的15%。

我们已制定政策，如果推荐机构同时在持续基础上为推荐客户提供建议服务，我们不会向会计事务所和律师事务所支付推荐费。如果这些支付符合适用的法律法规和职业伦理标准，我们将向这些专业机构支付相当于向独立顾问支付的推荐费。自成立以来，我们尚未收到任何会计事务所或律师事务所的推荐。

我们并未就运营历史、最低收益、最低资产、最低净值或其他运营或财务标准为我们的客户或潜在客户制定具体标准。因此，我们可能会为存在亏损、无显著运营历史、有限或无立即收益潜力、有限资产、负净值或其他负面特征的潜在客户提供服务。然而，我们可能会考虑其他因素，包括（但不限于）潜在客户的长期增长潜力，以及其在其所在地区和行业中的战略地位，以决定是否与潜在客户建立业务关系。尽管在客户选择方面没有既定标准，我们更倾向于招募具有长期增长潜力运营历史的客户，以及/或与美国公司有业务关系的客户。

竞争性商业条件和发行人的竞争地位

我们没有获得由独立且合格的专业人士进行的市场调研，以确定我们打算提供的服务类型的需求。我们也没有获取有关提供与我们类似服务的专业公司数量的信息。然而，我们的董事和高管知道，大多数主要的美国投资银行都在香港设立了办事处。这些办事处为香港和中国的公司提供全面的投资银行服务，包括在美国的首次公开发行和其他资本市场咨询业务。我们的董事和高管也了解到，几家小型和中型美国投资银行以及香港和中国的本地顾问也提供类似的美国公开上市服务。

我们\n认为投资银行通过使公司能够在\n股票交易所上市来协助公司进入资本市场。投资银行提供咨询和顾问服务，帮助公司成为报告公司和上市公司。\n我们相信，这就是我们与投资银行竞争的方式。尽管为公司筹集或寻找资金是投资银行提供的众多服务之一，但我们无意提供这些服务。当我们的客户有意筹集资金时，我们将将其介绍给在资金筹集地司法管辖区有执照的融资来源。如果成功，将向这些来源收取介绍费。在任何情况下，我们都不会直接参与客户筹集资金的决策过程。然而，我们将协助我们的客户收集公司和行业信息以用于展示目的，并在筹集资金过程中协调所有相关方之间的信息传播。我们打算根据协商确定的费率向客户收取项目管理费用。

有许多咨询公司和金融服务公司，其财务和人员资源以及技术专长都明显优于我们。在某些情况下，我们的竞争对手将是规模更大、更成熟的公司，其中一些公司可能拥有比我们显著更多的财务、营销和运营资源。鉴于我们有限的财务和人力资源，与竞争对手相比，我们存在显著的竞争劣势。

公司结构

本公司是Protopia International Company Limited的100%所有者，该公司是一家于2022年8月26日在香港注册成立的公司。

豁免公司是主要在开曼群岛境外开展业务的开曼群岛公司，因此根据《公司法》的某些条款被豁免。作为一家豁免公司，我们已申请并获得了开曼群岛政府的税务豁免承诺，根据开曼群岛《税收优惠法》（2020年修订版）第6条，在承诺日期起的20年内，任何在开曼群岛颁布的对利润、收入、收益或增值征税的法律都不适用于我们或我们的业务，并且，任何对利润、收入、收益或增值征税或属于遗产税或继承税性质的税款，（i）对我们股票、债券或其他债务或（ii）通过我们向股东支付股息或其他收入或资本分配，或支付债券或其他债务我们应付的本金或利息或其他款项的全部或部分预提税，都不应缴纳。

员工

截至2026年6月30日，我们没有员工。

知识产权

我们不拥有或授权任何知识产权。

第1A项。风险因素。

作为按《1934年证券交易法》（经修订）第12b-2条定义的小型报告公司（“证券交易法”），我们无需提供本项要求的信息。

第1B项。未解决的工作人员意见。

无。

第1C项。网络安全。

我们已开发并维护一种网络安全风险管理方法，旨在保护我们关键系统和信息的机密性、完整性和可用性。我们的网络安全风险管理方法已融入整体企业风险管理中，并与其他法律、合规、战略、运营和财务风险领域适用的共同方法、报告渠道和治理流程相结合。作为我们整体风险管理流程和程序的一部分，我们制定了网络安全意识计划，旨在识别、评估和管理来自网络安全威胁的重大风险。网络安全风险管理方法包括风险评估、安全措施的实施以及对系统和网络（包括我们依赖的网络）的持续监控。通过我们的网络安全意识，我们积极监控当前的威胁环境，以识别由新型和不断演变的网络安全威胁产生的重大风险。我们可能会聘请外部专家，包括网络安全评估人员、顾问和审计师，根据需要评估网络安全措施和风险管理流程。我们还依赖并聘请各种第三方，包括供应商、经销商和服务提供商，以支持我们的运营。我们的风险管理、法律和合规人员负责监督和识别（包括通过第三方网络安全服务提供商）与我们使用这些实体相关的网络安全威胁的重大风险。

网络安全治理

我们的董事会负责监督我们的风险管理，包括我们的信息技术和网络安全政策、程序和风险评估。管理层根据需要向我们的董事会报告信息安全事项，包括任何重大网络安全事件，以及潜在影响较小的事件。

我们董事会的主要职能是了解并监督我们各种风险管理流程。对风险的总体审查是我们董事会在持续考虑我们的长期战略、交易和其他提交和讨论事项时的固有组成部分。这包括讨论各种风险的可能性和潜在影响程度。

项目 2. 财产。

我们目前没有与租赁或办公用途的房产租用相关的书面协议或任何具有法律约束力的安排。我们也不拥有任何不动产。公司经Flywheel Financial Strategy (Hong Kong) Company Ltd（一家香港公司，“Flywheel”）的许可，免费使用Flywheel的办公空间和设备。因此，Flywheel可以随时且无需通知而停止提供免费办公空间。公司认为其当前的办公空间和可用的业务设备足以满足运营需求。公司目前没有房地产投资或权益，也没有房地产抵押或与主要从事房地产活动的人士相关的证券或权益，且无意投资于房地产、房地产抵押或证券，或与主要从事房地产活动的人士相关的权益。

如果Flywheel在任何时候停止无偿提供办公空间，我们认为我们可以成功与Flywheel或其他本地办公空间提供商协商租赁办公空间，而不会产生重大成本或对公司运营造成干扰。

第3项法律诉讼。

我们不知道有任何针对我们的正在进行或待决的法律诉讼，我们也未作为原告参与任何诉讼或待决的诉讼。没有任何诉讼涉及我们的董事、高管或关联方，或任何持有5%或更多受益股份的股东作为对方当事人或与我们有重大利益冲突。

第4项矿山安全披露。

不适用。

第二部分

第5项公司股权的市场、相关股东事项和发行人购买股权证券。

市场信息

截至本年度报告日期，我们的普通股未在任何全国性认可的股票交易所或报价系统（如OTC Markets Group, Inc.）上市，且公司普通股或其他任何类别的股权均无已建立的公开交易市场。

股东

截至2026年10月7日，我们已发行和流通的普通股为21,500,000股，未发行和流通的优先股为0股。

截至2026年10月7日，我们有53名记录在册的股东。

股息

我们从未就我们的普通股宣布或支付过任何股息。我们预计在可预见的未来不会支付任何股息。我们目前打算将未来可能产生的收益用于融资运营并扩展我们的业务。我们的董事有权单独决定是否支付股息。

我们的董事会在决定是否分配股息方面拥有完全的自主权，但受开曼群岛法律的某些限制，即我们公司只能从利润或股本溢价中支付股息，并且在任何情况下，如果支付股息会导致我们公司无法在正常业务过程中偿还到期债务，则不得支付股息。此外，我们的股东可以通过特别决议宣布股息，但任何股息不得超过我们的董事会建议的金额。即使我们的董事会决定支付股息，未来股息的支付时间、金额和形式（如有）将取决于诸多因素，包括但不限于我们的未来经营成果和现金流、我们的资本需求和盈余、我们从子公司收到的任何分配、我们的财务状况、合同限制以及其他董事会认为相关的因素。

开曼群岛公司法（“公司法”）对我们宣布和支付股息的能力施加了限制。

期权和认股权证

我们没有任何尚未行权的期权或认股权证。

股权激励计划信息

无。

未注册证券的近期销售；已注册证券的收益用途

无。

第6项。[保留]

第7项管理层讨论与分析财务状况和经营成果。

本管理层讨论与分析（“MD&A”）中所载的信息包含根据《1933年证券法》（经修订）第27A条、《1934年证券交易法》（经修订）第21E条以及《1995年私人证券诉讼改革法案》定义的“前瞻性声明”，包括但不限于（I）我们收入和盈利能力的增加，（ii）潜在的商业机会以及（iii）我们为融资业务制定的策略。前瞻性声明是指除历史信息或当前状况的声明以外的声明。某些前瞻性声明可能通过使用“相信”、“预期”、“意图”或“预计”等术语来识别。这些前瞻性声明涉及我们的计划、流动性、完成融资的能力、与公司签订未来协议的能力以及成功扩展我们的业务运营和产品销售的计划。我们主要根据当前的期望和对未来事件和财务趋势的预测来制定这些前瞻性声明，我们认为这些事件和趋势可能影响我们的财务状况、经营成果、业务策略和财务需求。

尽管我们认为与前瞻性声明相关的期望是基于我们对业务和运营的了解范围内的合理假设，但鉴于所有未来预测中固有的风险和不确定性，本年度报告中包含前瞻性声明不应被视为我们或任何其他人对我们的目标或计划能够实现的陈述。所有前瞻性声明仅反映本年度报告的日期。除法律要求外，我们不承担更新或修订任何前瞻性声明或其他本报告中包含的信息的义务，无论是否由于新信息、未来事件、事件、条件、情况或此类声明的基础假设发生变化，或其他原因。因此，我们提醒您不要将这些前瞻性声明视为历史事实的陈述，或作为未来表现的保证或担保。

概述

Protopia Global Holdings Inc. 是一家于2022年8月18日根据开曼群岛法律注册的控股公司，自身没有重大业务运营。它通过其全资运营子公司Protopia International Company Limited（“Protopia HK”）在香港开展所有业务运营，Protopia HK于2022年8月26日在香港注册，已于2022年底开始其业务运营。

Protopia HK 是一家咨询公司，同时也为在香港开展业务的小型和中型公司提供项目管理服务，以帮助它们进入国际资本市场。我们通过提供咨询、联络和协调服务，帮助这些公司完成在美国全国认可的股票交易所（如纳斯达克全球市场、纳斯达克资本市场、纽约证券交易所美国市场或OTC市场公司（OTCQX、OTCQB 和 OTCID））的首次上市过程。我们还协助这些公司或其他在国家证券交易所或OTCQX和OTCQB上市的上市公司维持持续的资格要求，并遵守适用的上市规则、法规或标准。虽然我们的客户主要位于香港，但我们计划在有机会的情况下将服务扩展到中国大陆。

最新进展

2026年6月24日，我们与俄亥俄州公司 Capstone 72, Inc.（“Capstone”）签订了委托书（“咨询服务协议”），以提供与 Capstone 拟议的首次公开募股相关的咨询服务，并协助 Capstone 回应纳斯达克证券市场有限责任公司提供的监管询问和审查意见。咨询服务协议反映了我们为寻求进入美国资本市场的小型和中型公司提供的咨询服务的持续扩展。根据咨询服务协议，公司将在考虑25,000美元的情况下，为 Capstone 提供上述咨询服务，其中50%在签署咨询服务协议时支付，其余50%在 Capstone 完成首次公开募股并在纳斯达克资本市场首次上市后支付。

经营成果

截至2026年6月30日及2025年6月30日止年度的经营成果

收入、收入成本和毛利

截至2026年6月30日及2025年6月30日的财年，公司没有收入、收入成本或毛利。

一般及行政费用

截至2026年6月30日，公司 incurred 一般及行政费用总额为202,098美元（包括银行手续费711美元，秘书服务费4,060美元，审计费31,025美元，Edgar 文件费用8,291美元，法律费用24,768美元，商业注册费916美元，银行账户开设费用828美元，计算机和软件费用861美元，股票转让代理费1,337美元以及递延发行成本的冲销129,301美元），而截至2025年6月30日的年度一般及行政费用为73,835美元（包括银行手续费415美元，秘书服务费3,910美元，审计费32,227美元，Edgar 文件费用7,800美元，法律费用24,000美元，托管代理费2,500美元，计算机和软件费用1,646美元以及股票转让代理费1,337美元）。由于截至2026年6月30日公司尚未有足够具体和可执行的发行计划，因此递延发行成本在合并损益表和综合损益表中作为运营费用的支出处理。

税项支出

截至 2026年6月30日及2025年6月30日的年份，公司未产生任何税务费用。

净亏损

由于上述原因，截至2026年6月30日的年度净亏损为202,098美元，而截至2025年6月30日的年度净亏损为73,835美元。这种增加主要是由于截至2026年6月30日年度的递延发行费用支出129,301美元所致。

流动性与资本资源

截至2026年6月30日，我们拥有11,327美元现金，其中全部将用于支付预计的普通管理和行政费用以维持公司的运营。我们主要依赖融资活动来提供流动性及资本资源，我们需要满足营运资金需求，并在持续运营中进行资本投资。从公司成立之日，即2022年8月18日到2026年6月30日，我们通过出售普通股以及主要执行官兼董事Sin Yi Cheng的出资来满足这些需求.

经营活动使用的现金

截至 June 30, 2026，经营活动使用的净现金为63,201美元。净亏损202,098美元包括非现金递延发行费用的冲销129,301美元。经营性资产和负债的变化包括预付款增加4,000美元，应计费用增加1,089美元，以及合同负债增加12,500美元。其余的经营性现金流出主要与专业费用、文件费用和其他行政费用有关。

截至 June 30, 2025，经营活动使用的净现金为85,897美元，净亏损为73,835美元，经营性资产和负债的变化包括预付款的使用60美元和应计费用减少12,135美元。

投资活动产生的现金

截至2026年6月30日及2025年6月30日的年份，公司没有发生任何投资活动。

融资活动产生的现金

截至2026年6月30日的年度，融资活动产生的净现金为73,875美元，这是由于公司股东Ms. Sin Yi Cheng提供的预付款73,455美元和银行透支420美元所致，而截至2025年6月30日的年度为85,057美元，这是由于股东提供的预付款85,057美元所致。融资活动产生的净现金减少是由于截至2026年6月30日的经营活动现金使用减少所致。

运营计划

我们计划将大量精力投入到向潜在客户推广我们的服务。我们打算利用股东、高管、董事和员工的商业网络来识别潜在机会。

我们的董事会已制定一项政策，即在我们因任何上述方的推荐而成功完成作为联合项目经理或独立项目经理的项目时，向我们的股东、高管、董事和员工支付推荐费。我们向上述任何一方支付的推荐费是通过协商确定的，与支付给独立顾问的费用一致，最高可达我们项目管理费的15%，包括现金部分和任何股票补偿。如果我们收到独立顾问的直接推荐，我们则根据责任是否由我们共同承担，与客户一起作为联合项目经理，或如果推荐的顾问不参与服务提供，则我们作为独立项目经理。每个项目的推荐费通过协商确定，并且仅在推荐的项目成功完成后支付。我们的董事会会定期审查这些费用，并根据当前的市场条件进行调整以增强我们的竞争力。向我们的股东、高管、董事和员工支付基于成功的推荐费旨在激励他们共同努力发展我们的业务。

我们预计未来12个月的成本将为80,000美元。我们正在探索融资活动，以提供我们满足营运资金需求和进行与持续运营相关的资本投资所需的流动性和资本资源。我们无法保证我们能够获得所需资本来支持我们的日常运营。如果我们没有足够的资本支持日常运营，我们的股东可能会失去其全部投资。

表外安排

该公司没有表外安排。

持续经营的不确定性

如本年度报告中包含的财务报表附注所述，截至2026年6月30日，该公司拥有11,327美元的现金，全部将用于维持公司的日常运营。如果该公司未来无法筹集到足够的资金，它将不得不探索其他融资活动，以提供其满足营运资金需求和进行与持续运营相关的资本投资所需的流动性和资本资源。该公司无法保证其在需要时能够获得必要的资金。因此，该公司对能否继续作为持续经营实体运营产生重大疑虑。该公司作为持续经营的能力取决于其产生足够的现金流以支付运营费用并减少运营费用。该公司的业务计划可能无法成功解决现金流问题。如果该公司无法继续作为持续经营实体运营，其股东可能会失去其在该公司中的全部投资。

关键会计估计

我们的财务报表及附注已按照GAAP编制。编制这些财务报表需要管理层做出影响所报告的资产、负债、收入和费用金额的估计、判断和假设。我们持续评估用于编制财务报表的会计政策和估计。这些估计基于历史经验，并基于当前事实和情况下的合理假设。实际金额和结果可能与管理层做出的这些估计不同。某些需要重大管理层估计的会计政策，被认为对我们的经营成果或财务状况至关重要。我们对关键会计估计的详细讨论见本文件中经审计的财务报表的第3号附注估计和假设的使用。

第7A项。关于市场风险的定量和定性披露。

由于我们是一家较小的报告公司，因此不适用。

第8项。财务报表和补充数据。

Protopia Global Holdings Inc

财务报表

合并财务报表索引

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内容		页码
独立注册公共会计公司的报告（PCAOB ID：2485）		F-2

独立注册公共会计公司的报告（PCAOB ID：7158）		F-3

截至2026年6月30日及2025年6月30日的合并资产负债表		F-4

截至2026年及2025年6月30日止年度的合并损益表及全面损失表		F-5

截至2026年及2025年6月30日止年度的股东权益变动合并表		F-6

截至2026年及2025年6月30日止年度的合并现金流量表		F-7

合并财务报表附注		F-8 – F-14

F-1

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独立注册公共会计公司的报告

Protopia Global Holdings Inc的股东和董事会

Protopia Global Holdings Inc

对合并财务报表的意见

我们审计了Protopia Global Holdings Inc及其子公司（“公司”）截至2026年6月30日的合并资产负债表，以及截至2026年止年度的合并损益表及全面损失表、股东权益（赤字）变动表和现金流量表，以及相关附注（统称为“合并财务报表”）。我们认为，合并财务报表在所有重大方面公允地反映了公司截至2026年6月30日的财务状况，以及截至2026年止年度的经营成果和现金流量，符合美国通用会计原则。

公司持续经营能力存在重大疑虑

随附的合并财务报表是假设该公司将继续作为持续经营的企业编制的。如合并财务报表第2号注释所述，该公司已连续出现经营亏损，累计亏损，并且经营活动产生的现金流为负。这些情况引发了对公司持续作为持续经营企业能力的重大疑虑。管理层对这些事项的事件和条件的评估以及管理层的相关计划也将在第2号注释中描述。合并财务报表中未包含可能因该不确定性结果而产生的任何调整。

意见基础

这些合并财务报表是该公司管理层的责任。我们的责任是根据我们的审计，对公司的合并财务报表发表意见。我们是一家在美国公共公司会计监督委员会（“PCAOB”）注册的会计师事务所，并根据美国联邦证券法律以及证券交易委员会和PCAOB的相关规则和法规要求，必须在与该公司有关方面保持独立。

我们按照PCAOB的标准进行审计。这些标准要求我们计划和执行审计，以获得关于合并财务报表是否不存在重大错报的合理保证，无论该错报是由于错误还是舞弊所致。该公司无需进行，我们也未被委托对其财务报告内部控制进行审计。作为我们审计的一部分，我们需了解财务报告内部控制，但并非为了对该公司财务报告内部控制的有效性发表意见。因此，我们不发表此类意见。

我们的审计包括执行程序以评估合并财务报表的重大错报风险，无论是由于错误还是舞弊所致，并执行针对这些风险的程序。此类程序包括基于测试检查合并财务报表中金额和披露的相关证据。我们的审计还包括评估管理层使用的会计原则和重大估计，以及评估合并财务报表的整体呈现。我们认为，我们的审计为我们的意见提供了合理基础。

/s/ Simon & Edward, LLP

We have served as the Company’s auditor since 2026

PCAOB ID: 2485

Rowland Heights, California

October 7, 2026

F-2

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the shareholders and the board of directors of

Protopia Global Holdings Inc.

Opinion on the Consolidated Financial Statements

We have audited the accompanying consolidated balance sheet of Protopia Global Holdings Inc. (the “Company”) as of June 30, 2025 and 2024, the related consolidated statements of operations and comprehensive income (loss), shareholders’ equity, and cash flow for the year ended June 30, 2025 and 2024, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2025 and 2024, and the results of its operations and its cash flow for the year ended June 30, 2025 and 2024, in conformity with accounting principles generally accepted in the United States.

Substantial Doubt about the Company’s Ability to Continue as a Going Concern

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated financial statements, the Company’s significant operating losses raise substantial doubt about its ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matters

Critical audit matters are matters arising from the current period audit of the consolidated financial statements that were communicated or are required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the consolidated financial statements and (2) involved especially challenging, subjective, or complex judgments.

We determined that there are no critical audit matters.

/s/ BCRG Group

BCRG Group (PCAOB ID 7158)

We have served as the Company’s auditor since 2024.

Irvine, CA

September 29, 2025

F-3

PROTOPIA GLOBAL HOLDINGS INC. AND SUBSIDIARY

CONSOLIDATED BALANCE SHEETS

(In U.S. Dollars, except share data or otherwise stated)

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	As of June 30, 2026			As of June 30, 2025
ASSETS:
Current assets:
Cash	$	11,327			$	653
Prepayments		4,000				-
Deferred offering costs		-				129,301
Total current assets		15,327				129,954

Total Assets	$	15,327			$	129,954

LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current liabilities:
Bank overdraft	$	420			$	-
Accrued expenses		29,553				28,464
Contract liabilities		12,500				-
Total current liabilities		42,473				28,464

Total Liabilities	$	42,473			$	28,464

Commitments and contingencies		-				-

Shareholders’ Equity:
Ordinary shares, $0.00001 par value; 500,000,000 shares authorized; 21,500,000 shares issued and outstanding as of June 30, 2026 and 2025	$	215			$	215
Additional paid-in capital		373,329				299,874
Accumulated deficit		(400,684	)			(198,586	)
Accumulated other comprehensive loss		(6	)			(13	)
Total Shareholders’ (Deficit)/Equity	$	(27,146	)		$	101,490

Total Liabilities and Shareholders’ Equity	$	15,327			$	129,954

See accompanying notes to the consolidated financial statements.

F-4

PROTOPIA GLOBAL HOLDINGS INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In U.S. Dollars, except share data or otherwise stated)


	From July 1, 2025 to June 30, 2026			From July 1, 2024 to June 30, 2025
Revenue	$	-			$	-
General and administrative expenses		(202,098	)			(73,835	)
Loss before tax expense	$	(202,098	)		$	(73,835	)

Tax expense		-				-

Net loss	$	(202,098	)		$	(73,835	)

Other comprehensive Income/(loss)
Foreign currency translation gain/(loss)	$	7			$	13
Total comprehensive loss	$	(202,091	)		$	(73,822	)

Weighted average shares outstanding, basic and diluted		21,500,000				21,500,000

Basic and diluted net loss per ordinary share	$	(0.01	)		$	(0.00	)

See accompanying notes to the consolidated financial statements.

F-5

PROTOPIA GLOBAL HOLDINGS INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(In U.S. Dollars, except share data or otherwise stated)


	Ordinary shares		Additional paid-in			Accumulated		Accumulated other comprehensive	Total shareholders’ equity/
	Shares		Amount			capital		deficit	loss			(deficit)
Balance as of June 30, 2024		21,500,000		$	215		$	214,817	$	(124,751	)		$	(26	)	$	90,255
Capital contribution from a shareholder		-			-			85,057		-				-			85,057
Net loss		-			-			-		(73,835	)			-			(73,835	)
Foreign currency translation		-			-			-		-				13			13
Balance as of June 30, 2025		21,500,000		$	215		$	299,874	$	(198,586	)		$	(13	)	$	101,490
Capital contribution from a shareholder		-			-			73,455		-				-			73,455
Net loss		-			-			-		(202,098	)			-			(202,098	)
Foreign currency translation		-			-			-		-				7			7
Balance as of June 30, 2026		21,500,000		$	215		$	373,329	$	(400,684	)		$	(6	)	$	(27,146	)

See accompanying notes to the consolidated financial statements.

F-6

PROTOPIA GLOBAL HOLDINGS INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In U.S. Dollars, except share data or otherwise stated)


	From July 1, 2025 to June 30, 2026			From July 1, 2024 to June 30, 2025
Cash flows from operating activities:
Net loss	$	(202,098	)		$	(73,835	)
Adjustments to reconcile net loss to net cash used in operating activities						-
Write off of deferred offering costs		129,301				-
Foreign currency translation adjustment		7				13
Changes in operating assets and liabilities
Accrued expenses		1,089				(12,135	)
Contract liabilities		12,500				-
Prepayments		(4,000	)			60
Net cash used in operating activities		(63,201	)			(85,897	)

Cash flows from financing activities:
Bank overdraft		420				-
Capital contribution from a shareholder		73,455				85,057
Net cash provided by financing activities		73,875				85,057

Net increase (decrease) in cash		10,674				(840	)
Cash – beginning of the period		653				1,493
Cash – end of the period	$	11,327			$	653

Supplemental cash flow information:
Cash paid for income tax		-				-
Cash paid for interest		-				-

See accompanying notes to the consolidated financial statements.

F-7

PROTOPIA GLOBAL HOLDINGS INC. AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2026 and 2025

1. ORGANIZATION AND BUSINESS DESCRIPTION

Protopia Global Holdings Inc. (the “Company”) was incorporated in the Cayman Islands on August 18, 2022 with the authorized capital of 500 million shares of ordinary shares, par value of $0.00001 per share.

On August 26, 2022, Protopia International Company Limited (“Protopia HK”), was incorporated in Hong Kong as the Company’s wholly-owned subsidiary, and its principal activities are to assist small- and medium-sized non-U.S. businesses in accessing international capital markets through listings on nationally recognized stock exchanges such as the Nasdaq Global Market, the Nasdaq Capital Market, NYSE American or the OTC Markets Group (OTCQX, OTCQB and OTCID).

The fiscal year end of the Company is June 30.

2. GOING CONCERN

The Company has incurred loss of US$202,098 during the year ended June 30, 2026 and had net cash used in operating activities of US$63,201. If the Company fails to raise sufficient capital, it will have to explore financing activities to provide it with the liquidity and capital resources it needs to meet its working capital requirements and to make capital investments in connection with ongoing operations. Management anticipates that the Company will be dependent, for the near future, on investment capital to fund operating expenses. The Company intends to position itself so that it will be able to raise funds through the capital markets. Since the Company cannot give assurance that it will be able to secure the necessary capital when needed, there is a substantial doubt that the Company will be able to continue operations as a going concern following one year from the issuance of these financial statements. The financial statements do not include any adjustments that might result from its inability to consummate any financings or its inability to continue as a going concern.

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of preparation and principles of consolidation

The accompanying consolidated financial statements of the Company and its subsidiary are prepared pursuant to the rules and regulations of the U.S Securities and Exchanges Commission (“SEC”) and in conformity with generally accepted accounting principles in the U.S. (“US GAAP”). The accompanying consolidated financial statements reflect all adjustments that management considers necessary for a fair presentation of the results of operations for the period.

The accompanying consolidated financial statements have been prepared on a consolidated basis and reflect the consolidated financial statements of the Company and Protopia HK. All intercompany transactions and balances are eliminated on consolidation.

Emerging growth company

The Company is an “emerging growth company”, as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

F-8

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to optout is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of estimates and assumptions

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

Foreign currency translation

The Company’s consolidated financial statements are reported in United States dollars (“US$”), the Company’s presentation currency. The functional currency for the Company is US$ and the Company’s subsidiary in Hong Kong is Hong Kong dollars (“HK$”). The translation of the functional currencies of its subsidiary into U.S. dollars is performed for balance sheet accounts using the exchange rates in effect as of the balance sheet date and for revenues and expense accounts using an average exchange rate prevailing during the respective period. The gains or losses resulting from such translation are reported as currency translation adjustments under other comprehensive loss under accumulated other comprehensive loss as a separate component of equity.

Monetary assets and liabilities of the Company and its subsidiary denominated in currencies other than the functional currency of the Company and subsidiary are translated into their respective functional currency at the rates of exchange prevailing on the balance sheet date.

Transactions of the Company and its subsidiary in currencies other than the Company’s and the subsidiary’s functional currencies are translated into the respective functional currencies at the average monthly exchange rate prevailing during the period of the transaction. The gains or losses resulting from foreign currency transactions are included in the consolidated statements of operation and comprehensive loss.

The exchange rates used to translate amounts in HK$ into US$ for the purposes of preparing the consolidated financial statements were as follows:

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Schedule of exchange rates used to translate amounts
\n	June 30, 2026	June 30, 2025
Balance sheet items, except for ordinary shares, additional paid-in capital and retained earnings, as of period end	US$1=HK$7.8430	US$1=HK$7.8496

Amounts included in the statements of operations and cash flows for the period	US$1=HK$7.8116	US$1=HK$7.7897

F-9

Financial instruments and concentration of credit risk

Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account placed in a financial institution, through an escrow agent, with high investment grade ratings. As of June 30, 2026, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

Fair value of financial instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 825, “Financial Instruments,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.

Cash and cash equivalents

The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had US$11,327 in cash and no cash equivalents as of June 30, 2026. The Company’s cash is held in hand, through escrow agent and at well capitalized financial institutions, but they are not FDIC insured. However, management does not believe there is a significant risk of loss.

Deferred offering costs

The Company complies with the requirements of the ASC 340-10-S99 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A - “Expenses of Offering”. Pursuant to ASC 340-10-S99-1, IPO costs directly attributable to an offering of equity securities are deferred and would be charged against the gross proceeds of the offering as a reduction of additional paid-in capital. Deferred offering costs consist of professional and registration fees that are directly related to the registration statement on Form S-1 (SEC File No. 333-269343) that was declared effective by the SEC on May 12, 2023. As the in-process equity financing was abandoned during the year, the deferred offering costs were expensed as a charge to operating expenses in the consolidated statements of operations and comprehensive loss. As of June 30, 2026, the Company has $Nil deferred offering costs (2025: $129,301).

Accrued expenses

Accrued expenses primarily include accrued professional fees.

Revenue and expense recognition

The Company follows ASC 606 — Revenue from Contracts with Customers. Under ASC 606, the Company derives revenue principally from providing corporate advisory services. The Company enters into agreements with customers that create enforceable rights and obligations and for which it is probable that the Company will collect the consideration to which it will be entitled as services transfer to the customer. It is customary practice for the Company to have written agreements with its customers and revenue on oral or implied arrangements is generally not recognized. The Company recognizes revenue based on the consideration specified in the applicable agreement.

Revenue from contracts with customers is recognized by: (1) identifying the contract (if any) with a customer; (2) identifying the performance obligations in the contract (if any); (3) determining the transaction price; (4) allocating the transaction price to each performance obligation in the contract (if any); and (5) recognizing revenue when each performance obligation is satisfied.

Generally, revenue is recognized when the Company has negotiated the terms of the transaction, which includes determining either the overall price, or the price for each performance obligation in the form of a service, the service has been delivered to the customer, no obligation is outstanding regarding that service, and the Company is reasonably assured that funds have been or will be collected from the customer. Upfront fees are recognized over the estimated period that the related services are performed. Deferred revenues are recorded for fees received that have not yet been earned.

F-10

The Company provides consultancy services towards small- and medium-sized non-U.S. businesses for initial public offering process.

The Company has one outstanding contract with its customer as of June 30, 2026. However, no revenue was generated for the year ended June 30, 2026 as performance obligations had not yet been satisfied.

Contract liabilities (Deferred Revenue)

The Company records contract liabilities, which consist of deferred revenue, when cash payments are received in advance of the Company’s performance. The following table presents significant changes in contract liabilities during the period.

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Schedule of significant changes in contract liabilities
	\n Year ended \n June 30, 2026		\n Year ended \n June 30, 2025
Contract liabilities, beginning of year	$	-		$	-
Cash received		12,500			-
Contract liabilities, end of year	$	12,500		$	-

Remaining Performance Obligations

As of June 30, 2026, the aggregate amount of the transaction price allocated to remaining performance obligations was $12,500. This amount represents contractually committed future revenue for which no performance obligations have been satisfied during the year ended June 30, 2026.

Income taxes

The Company accounts for income taxes under the FASB Codification Topic 740-10-25 (“ASC 740-10-25”). Under ASC 740-10-25, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under Statement 109, the effect on deferred tax assets and liabilities of a change in tax rates is recognized as income in the period included the enactment date.

There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s consolidated financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.

Protopia HK is incorporated in Hong Kong and is subject to Hong Kong Profits Tax on the taxable income derived from its activities conducted in Hong Kong. The applicable tax rate is 16.5% in Hong Kong. From year of assessment of 2019/2020 onwards, Hong Kong profits tax rates are 8.25% on assessable profits up to US$255,004 (HK$2,000,000), and 16.5% on any part of assessable profits over US$255,004 (HK$2,000,000).

Comprehensive income (loss)

ASC Topic 220, “Comprehensive Income”, establishes standards for reporting and display of comprehensive loss, its components and accumulated balances. Comprehensive loss as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive loss, as presented in the accompanying consolidated statements of changes in shareholders’ equity, consists of changes in unrealized gains and losses on foreign currency translation. This comprehensive loss is not included in the computation of income tax expense or benefit.

F-11

Commitments and contingencies

The Company follows ASC 450-20, “Loss Contingencies”, to report accounting for contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. Legal costs incurred in connection with such liabilities are expensed as incurred.

Other Legal Matters

From time to time in the ordinary course of business, the Company may be subject to various claims, charges, and litigation. At June 30, 2026, the Company did not have any pending litigations.

Loss per share

Basic loss per share is computed by dividing loss available to stockholders by the weighted average number of shares outstanding during the period. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional shares that would have been outstanding if the potential shares had been issued and if the additional shares were diluted. There were no potentially dilutive securities for the year ended June 30, 2026.

Recently adopted accounting standards

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU improves the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in rate reconciliation, and (2) income taxes paid disaggregated by jurisdiction. Additionally, the amendments in this ASU improve the effectiveness and comparability of disclosures by: (1) adding disclosures of pretax income (or loss) and income tax expense (or benefit) to be consistent with Regulation S-X, and (2) removing disclosures that no longer are considered cost beneficial or relevant. The amendments in this update are effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted this guidance prospectively during the fourth quarter of 2025 and determined it did not have a material financial impact on the Company’s financial statements.

In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses (“ASU 2024 03”), and in January 2025, the FASB issued ASU No. 2025-01, Clarifying the Effective Date (“ASU 2025-01”). The amendments are intended to enhance disclosures regarding an entity’s costs and expenses by requiring additional disaggregated information disclosures about certain income statement expense line items. The amendments, as clarified by ASU 2025-01, are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is evaluating the effect of adopting the new disclosure requirements.

4. CASH

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Schedule of cash
	As of		As of
	June 30, 2026		June 30, 2025
Cash on hand	$	383		$	383
Cash at bank account of an escrow agent		857			270
Cash at bank account		10,087			-
Total	$	11,327		$	653

The Company has an escrow arrangement with Jimmy Cheung & Co., Certified Public Accountants of Hong Kong, to hold the Company’s money at their bank accounts established specially for their clients. The Company’s money is deposited at the Hong Kong and Shanghai Banking Corporation. Under the escrow arrangement, Jimmy Cheung & Co. Certified Public Accountants can only instruct the bank to carry out a transaction upon receipt of instructions from the Company.

F-12

5. SHARE CAPITAL

On August 18, 2022 (date of inception), one share of the Company’s ordinary shares was issued at the par value of $0.00001 to the company-incorporating service provider. This share was immediately transferred to Sin Yi Cheng, the president and director of the Company. On the same day, Sin Yi Cheng purchased an additional 99,999 shares of the Company’s ordinary shares at $0.00001 per share. The monies from the issuance of a total of 100,000 shares of the Company’s ordinary shares on August 18, 2022, which totaled $1, went to the Company to be used as initial working capital.

On August 20, 2022, the Company sold 3,200,000 shares of its ordinary shares to the other founding shareholders of the Company at $0.00001 per share. The monies from this transaction, which totaled $32, went to the Company to be used as working capital.

On August 23, 2022, the Company sold 18,150,000 shares of its ordinary shares to Sin Yi Cheng and 4 private investors at $0.007 per share. The monies from this transaction, which totaled $127,050, went to the Company to be used as working capital.

On September 19, 2022, the Company sold 50,000 shares of its ordinary shares to 50 private investors at $0.007 per share. The monies from this transaction, which totaled $350, went to the Company to be used as working capital.

There have been no other issuances of the Company’s ordinary shares.

As of June 30, 2026, the Company had 21,500,000 issued and outstanding ordinary shares.

For the years ended June 30, 2026 and 2025, our principal executive officer and director, Sin Yi Cheng, made capital contributions of $73,455 and $85,057, respectively, without any issuance of the Company’s shares. The contributions are not repayable, bear no interest and were recorded as additional paid-in capital. Cumulative capital contributions since inception were $246,111 and $172,656 as of June 30, 2026 and 2025, respectively.

Additional paid-in capital comprised the following:

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Schedule of additional paid-in capital
	June 30, 2026		June 30, 2025
Proceeds from share issuances in excess of par value	$	127,218		$	127,218
Capital contributions from a shareholder		246,111			172,656
Additional paid-in capital	$	373,329		$	299,874

6. INCOME TAXES

Cayman Islands - The Company is not subject to tax on income or capital gains under current Cayman Islands law.

Hong Kong - Protopia HK is subject to Hong Kong Profits Tax at 8.25% on the first HK$2,000,000 of assessable profits and 16.5% thereafter. No provision was made as Protopia HK had no assessable profits for the years ended June 30, 2026 and 2025.

Loss before income taxes:

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Schedule of loss before income tax
	2026			2025
Cayman Islands	$	(200,159	)		$	(72,808	)
Hong Kong		(1,939	)			(1,027	)
Total	$	(202,098	)		$	(73,835	)

F-13

Income tax expense was nil 0 for the years ended June 30, 2026 and 2025. The effective tax rate of 0% equals the Cayman Islands statutory rate, and there were no reconciling items.

Protopia HK has no tax losses available for carry forward and has not filed any Hong Kong profits tax return. Accordingly, no deferred tax assets or valuation allowance were recognized as of June 30, 2026 and 2025.

The Company had no unrecognized tax benefits, and no related interest or penalties, as of June 30, 2026 and 2025. No income taxes were paid in any jurisdiction during either year.

7. CONCENTRATION AND RISKS

(a) Concentration

As of June 30, 2026, 100% of the Company’s assets were located in Hong Kong.

(b) Economics and political risk

The Company’s major operations are conducted in Hong Kong. Accordingly, the political, economic, and legal environments in Hong Kong, as well as the general state of Hong Kong’s economy may influence the Company’s business, financial condition, and results of operations.

8. SUBSEQUENT EVENTS

The Company evaluated subsequent events and transactions that occurred after the balance sheet date of June 30, 2026 and up through October 7, 2026, the date that the consolidated financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the consolidated financial statements.

F-14

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.

On August 11, 2026, the Company dismissed BCRG Group (“BCRG”), as the Company’s independent registered public accounting firm, and on the same date, the board of directors of the Company appointed Simon & Edward LLP (“S&E”) as its new independent registered public accounting firm, beginning with the audit of the Company’s consolidated financial statements for the fiscal year ended June 30, 2026. This change follows the acquisition of BCRG’s attest business by S&E, effective June 15, 2026.

During the fiscal years ended June 30, 2025 and 2024 and the subsequent interim period through the date of the Form 8-K filed on August 17, 2026, there were (a) no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and BCRG on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of BCRG, would have caused BCRG to make reference to the subject matter of the disagreements in connection with BCRG’s reports on the Company’s financial statements, and (b) no “reportable events” (as defined in Item 304(a)(1)(v) of Regulation S-K and the related instructions), except for the material weaknesses in the Company’s internal control over financial reporting previously disclosed under Part II, Item 9A of the Company’s Annual Report on Form 10-K for the year ended June 30, 2025.

During the fiscal years ended June 30, 2025 and 2024 and the subsequent interim period through the date of the Form 8-K filed on August 17, 2026, neither the Company nor anyone acting on its behalf consulted S&E regarding (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s financial statements, and no written report was provided to the Company or oral advice was provided that S&E concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue, or (ii) any matter that was either the subject of a disagreement (as described in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K and the related instructions).

BCRG’s audit reports on the Company’s consolidated financial statements for the fiscal years ended June 30, 2025 and 2024 contained no adverse opinion or disclaimer of opinion and was not qualified or modified as to uncertainty, audit scope, or accounting principles, except that the report on the consolidated financial statements of the Company for the fiscal years ended June 30, 2025 and 2024 included an explanatory paragraph indicating that there was substantial doubt as to the Company’s ability to continue as a going concern.

ITEM 9A. CONTROLS AND PROCEDURES.

Our management has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, as of June 30, 2026. Based on such evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that as of June 30, 2026, our disclosure controls and procedures were ineffective to provide reasonable assurance that information required to be disclosed by us in the reports that we file or submit under the Exchange Act (a) is recorded, processed, summarized and reported within the time periods specified by the Commission rules and forms and (b) is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding any required disclosure.

Management has identified control deficiencies regarding inadequate accounting resources, the lack of segregation of duties and the need for a stronger internal control environment. Management of the Company believes that these material weaknesses are due to the small size of the Company’s accounting staff. The small size of the Company’s accounting outsourced staff may prevent adequate controls in the future due to the cost/benefit of such remediation.

To mitigate the current limited resources and limited employees, we rely heavily on direct management oversight of transactions, along with the use of external legal and accounting professionals. As we grow, we expect to increase our number of employees, which will enable us to implement adequate segregation of duties within the internal control framework.

These control deficiencies could result in a misstatement of account balances that would result in a reasonable possibility that a material misstatement to our financial statements may not be prevented or detected on a timely basis. In light of this material weakness, we performed additional analyses and procedures in order to conclude that our financial statements for the year ended June 30, 2025 included in this Annual Report on Form 10-K were fairly stated in accordance with GAAP. Accordingly, management believes that despite our material weaknesses, our financial statements for the year ended June 30, 2026 are fairly stated, in all material respects, in accordance with GAAP.

Management’s Report on Internal Control Over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) of the Exchange Act. Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Our internal control over financial reporting includes those policies and procedures that:

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●

pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets;

\n \n \n \n

●

provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and

\n \n \n \n

●

provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements.

Because of the inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Our management assessed the effectiveness of our internal control over financial reporting as of June 30, 2026. In making this assessment, our management used the criteria set forth by the Committee of Sponsoring Organizations of the 2013 Treadway Commission (“COSO”) in Internal Control-Integrated Framework. Based upon this assessment, our Chief Executive Officer and Chief Financial Officer concluded that as of June 30, 2026 our internal controls over financial reporting were ineffective.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal controls over financial reporting that occurred during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Limitations on Effectiveness of Controls and Procedures

In designing and evaluating the disclosure controls and procedures and internal control over financial reporting, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. In addition, the design of disclosure controls and procedures and internal control over financial reporting must reflect the fact that there are resource constraints and that management is required to apply judgment in evaluating the benefits of possible controls and procedures relative to their costs.

ITEM 9B. OTHER INFORMATION.

Insider Trading Arrangements and policies

During the period ended June 30, 2026, no director or officer of the Company adopted or terminated any contract, instruction or written plan for the purchase or sale of securities of the registrant intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (a “Rule 10b5-1 trading arrangement”) or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) and (c) of Regulation S-K.

There was no information required to be disclosed in a report on Form 8-K during the fourth quarter of the fiscal year covered by this Annual Report on Form 10-K that was not previously reported.

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS.

Not applicable.

PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.

Directors and Executive Officers

The following table sets forth information regarding our director and executive officer as of the date of this Annual Report.

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Directors and Executive Officers	Age	Position/Title
Sin Yi Cheng	40	President and Director

Ka Ki Wong	45	Chief Financial Officer, Chief Operating Officer and Director

The following are brief biographies of each of our executive officers and directors:

Sin Yi Cheng, President and Director,

Sin Yi Cheng was appointed as our director on August 18, 2022, and as our President on August 30, 2022. Ms. Cheng has accumulated over 15 years of experience in business management and finance. Ms. Cheng has served as Chief Financial Officer at Goldman Technology Holdings Limited since February 2018; she co-founded Road to Greatness Consultancy Company Ltd., a company engaged in career development trainings, in 2017; she was an Executive Officer of Cherry Body Fashions Manufacturing Limited, handling all operational matters and external affairs from December 2012 to October 2017, and a wealth and financial planner at MassMutual Asia Ltd. from August 2008 to August 2012. Ms. Cheng obtained a degree of Bachelor of International Hotel & Tourism Management from the International Hotel Management Institute, Switzerland in December 2004 and a Master of Business Administration from Kurt Bosch University in Switzerland in July 2008.

Ms. Cheng’s business management and financial experience led to the conclusion that she should serve as one of our directors.

Ka Ki Wong, Chief Financial Officer, Chief Operating Officer and Director

Mr. Wong has served as our Chief Financial Officer, Chief Operating Officer and director since August 30, 2022. Mr. Wong has over 15 years of experience in corporate management, financial budgeting and risk management, analyzing and managing companies.

He has served as a director of Flywheel Financial Strategy (Hong Kong) Company Limited, a Hong Kong financial company, since 2020; he co-founded Keypoint Group Limited, an educational company in 2019, where he also served as a director until March 2020, managing e-marketing, management and production of events and developing technology, including VR technology, to be used in education environment; he was the chief data analyst officer at Road to Greatness Corporation, from April 2017 to May 2019; and prior to that, from 2007 to 2017, he was a data analyst manager at Wilson Parking Australia. Mr. Wong obtained his Bachelor of Computer Science and Technology in 2005 from University of Sydney, Australia.

Mr. Wong’s extensive experience in corporate management, financial budgeting and risk management led to the conclusion that he should serve as one of our directors.

Terms of Directors and Officers

The directors of the Company may be elected by a resolution of our board of directors, or by an ordinary resolution of our shareholders. The directors are not subject to a term of office and hold office until such time as they are removed from office by ordinary resolution of the shareholders. A director will cease to be a director if, among other things, the director (i) becomes bankrupt or makes any arrangement or composition with his creditors; (ii) dies or is found by our company to be or becomes of unsound mind, (iii) resigns his office by notice in writing to the company, or (iv) without special leave of absence from our board, is absent from three consecutive board meetings and our directors resolve that his office be vacated, or (v) is removed from office by ordinary resolution, or pursuant to any other provisions of our articles of association.

A director is not required to hold any shares in our company to qualify to serve as a director. A director who is in any way, whether directly or indirectly, interested in a contract or transaction or proposed contract or transaction with our company is required to declare the nature of his interest at a meeting of our directors. A director may vote with respect to any contract or transaction or proposed contract or transaction notwithstanding that he may be interested therein, and if he does so his vote shall be counted and he may be counted in the quorum at any meeting of our directors at which any such contract or transaction is considered. Our directors may exercise all the powers of our company to borrow money, mortgage or charge its undertaking, property and uncalled capital and to issue debentures or other securities whenever money is borrowed or as security for any debt, liability or obligation of our company or of any third party.

Our officers are elected by and serve at the discretion of the board of directors. Our directors are not subject to a term of office and hold office until their resignation, death or incapacity, or until their respective successors have been elected and qualified or until his or her office is otherwise vacated in accordance with our articles of association.

Family Relationships

There are no family relationships among our directors or executive officers and the Company.

Insider Trading Policy

The Company has not adopted an insider trading policy.

Involvement in Certain Legal Proceedings

During the past ten years, none of our current directors, executive officers, promoters, control persons, or nominees has been:

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●

the subject of any bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time;

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●

convicted in a criminal proceeding or is subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);

\n \n \n \n \n

●

subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction or any Federal or State authority, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities;

\n \n \n \n \n

●

found by a court of competent jurisdiction (in a civil action), the Commission or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law.

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the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of (a) any Federal or State securities or commodities law or regulation; (b) any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or (c) any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or

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●

the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

Compliance with Section 16(a) of the Exchange Act

As a voluntary filer, the Company is not subject to reporting obligations under Section 16(a) of the Exchange Act.

Code of Business Conduct and Ethics

On November 22, 2022, we adopted a Code of Business Conduct and Ethics that applies to our officers, directors and employees. The Code of Business Conduct and Ethics is attached as Exhibit 14.1 to the Form S-1 registration statement filed with the Commission on January 20, 2023, and is incorporated by reference hereto.

Committees of the Board of Directors

The Company does not currently have, and does not currently intend to establish, any committees of the Board of Directors.

ITEM 11. EXECUTIVE COMPENSATION.

Executive Compensation

No executive compensation was paid during the fiscal year period ended June 30, 2026. Our Board of Directors does not currently receive any consideration for their services as members of the Board of Directors. The Board of Directors reserves the right in the future to award our executives or the members of the Board of Directors cash or stock-based consideration for their services to the Company, which awards, if granted shall be in the sole determination of the Board of Directors.

Outstanding Equity Awards at Fiscal Year-End

We had no outstanding equity awards at the year ended June 30, 2026.

Potential Payments Upon Termination or Change-of-Control

None of our named executive officers or directors are entitled to any payments upon termination or change-of-control.

Retirement or Similar Benefit Plans

There are no arrangements or plans in which we provide retirement or similar benefits for our directors or executive officers.

Employment Agreements

We have no employment agreements with any of our named executive officers or directors.

Compensation Committee Interlocks and Insider Participation

The Company does not currently have, and does not currently intend to establish, a Compensation Committee of the Board of Directors.

Compensation Committee Report

Not applicable.

Compensation Clawback Disclosures

None.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

The following table sets forth, as of the date of this Annual Report, the beneficial ownership of our Ordinary Shares by each executive officer and director, by each person known by us to beneficially own more than 5% of our Ordinary Shares and by the executive officers and directors as a group. As used in this table, “beneficial ownership” means the sole or shared power to vote, or to direct the voting of, a security, or the sole or shared investment power with respect to a security (i.e., the power to dispose of, or to direct the disposition of, a security). In addition, for purposes of this table, a person is deemed, as of any date, to have “beneficial ownership” of any security that such person has the right to acquire within 60 days after such date.

The persons named above have full voting and investment power with respect to the Ordinary Shares indicated. Under the rules of the Commission, a person (or group of persons) is deemed to be a “beneficial owner” of a security if he or she, directly or indirectly, has or shares the power to vote or to direct the voting of such security, or the power to dispose of or to direct the disposition of such security. Accordingly, more than one person may be deemed to be a beneficial owner of the same security. A person is also deemed to be a beneficial owner of any security, which that person has the right to acquire within 60 days, such as options or warrants to purchase our Ordinary Shares.

Except as otherwise indicated, all shares are owned directly and the percentage shown is based on 21,500,000 Ordinary Shares issued and outstanding. We do not have any outstanding options, warrants or other securities exercisable for or convertible into shares of our Ordinary Shares.

Title of Class	Name of Beneficial Owner	\n Ordinary Shares \n Beneficially Owned		Percent of Class
5% or more beneficial owners (Ordinary Shares)	-		-		-	%

Executive Officers and Directors	Sin Yi CHENG⁽¹⁾		18,200,000		84.65	%
	Ka Ki WONG⁽²⁾		2,200,000		10.23	%

Officers and Director as a Group (2 persons)			20,400,000		94.88	%

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⁽¹⁾	The address of Sin Yi Cheng is 18 8 Wang Sin House, Cheung Wang Estate, Tsing Yi Central, New Territories, Hong Kong
⁽²⁾	The address of Ka Ki Wong is Room 3222, Shin Lai House, Tseung Kwan O, New Territories, Hong Kong

As of the date of this Annual Report, none of our outstanding Ordinary Shares are held by record holders in the United States. We are not aware of any arrangement that may result in a change of control of the Company at a subsequent date.

Outstanding Equity Awards at Fiscal Year-End

We had no outstanding equity compensation plans or equity awards at the year ended June 30, 2026.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.

Related Party Transactions

Other than transactions listed\nbelow, there were no transactions since July 1, 2025, or any currently proposed transactions, in which the Company was or is to be a\nparticipant, in which the amount involved exceeded or will exceed the lesser of $120,000 or, and in which any of our executive officers,\ndirectors or holders of more than 5% of any class of our voting securities, or an affiliate or immediate family member thereof, had or\nwill have a direct or indirect material interest.

Our principal executive officer and director, Sin Yi Cheng, made capital contributions of $73,455 to support the Company’s operation, which are not repayable and were recorded as additional paid-in capital.

Office Space and Equipment

We utilize the office space and equipment of Flywheel at no cost with Flywheel’s permission. Ka Ki Wong, our director, Chief Financial Officer and Chief Operating Officer is also a director of Flywheel.

Director Independence

We are not listed on any exchange that requires directors to be independent. We have not:

\n \n \n \n

●

Established our own definition for determining whether our directors or nominees for directors are “independent,” nor have we adopted any other standard of independence employed by any national securities exchange or inter-dealer quotation system, though our current directors would not be deemed to be “independent” under any applicable definition given that they are officers of the Company; nor

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●

Established any committees of our Board of Directors.

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Below is the approximate aggregate amount of fees billed for professional services rendered by our principal accountants with respect to the years ended June 30, 2025 and June 30, 2026.

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BCRG Group	As of June 30, 2025
Audit fees	$	30,000
Audit-related fees	$	-
Tax fees	$	-
All other fees	$	-
Total	$	30,000

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BCRG Group	As of June 30, 2026
Audit fees	$	15,000
Audit-related fees	$	-
Tax fees	$	-
All other fees	$	-
Total	$	15,000

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Simon & Edward LLP	As of June 30, 2026
Audit fees	$	15,000
Audit-related fees	$	-
Tax fees	$	-
All other fees	$	-
Total	$	15,000

Audit Fees. These fees were comprised of (i) professional services rendered in connection with the audit of our consolidated financial statements for our Annual Report on Form 10-K, (ii) the review of our quarterly consolidated financial statements for our quarterly reports on Form 10-Q, (iii) audit services provided in connection with other regulatory or statutory filings, if any.

Audit-Related Fees. Consists of fees billed for assurance and related services that are reasonably related to the performance of the audit or review of our financial statements and are not reported under “Audit Fees”, if any.

Tax Fees. These fees relate to our tax compliance and tax advisory projects, if any.

All Other Fees. These fees were comprised of assistance in preparation of our periodical reports to the Company, if any.

Pre-Approval Policies and Procedures

Currently, we do not have a separately designed audit committee. Instead, our entire board of directors performs those functions. Accordingly, our board of directors was responsible for pre-approving all services provided by our independent registered public accounting firm. The above fees were reviewed and approved by our board of directors before the services were rendered.

PART IV

ITEM 15. EXHIBIT AND FINANCIAL STATEMENT SCHEDULES.

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(a)

List the following documents filed as a part of the report:

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(1)

Our financial statements are listed in the index under Item 8 of this document; and

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(2)

Any financial statement schedules omitted because they are not applicable, not material or the required information are shown in the financial statements or notes thereto.

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(b)

Exhibits required by Item 601 of Regulation S-K.

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Exhibit No.		Description
3.1		Articles of Association of Protopia Global Holdings Inc. (incorporated by reference to Exhibit 3.1 to form S-1 Registration Statement filed on January 20, 2023)
3.2		Memorandum of Association of Protopia Global Holdings Inc. (incorporated by reference to Exhibit 3.2 to form S-1 Registration Statement filed on January 20, 2023)
10.1		Professional services agreement between Protopia International Company Limited and Bosung Meditech Co., Ltd. (incorporated by reference to Exhibit 10.1 to form S-1 Registration Statement filed on January 20, 2023)
10.2*		Engagement Letter between Protopia International Company Limited and Capstone 72, Inc., dated June 24, 2026
14.1		Code of Business Conduct and Ethics of the Registrant (incorporated by reference to Exhibit 14.1 to form S-1 Registration Statement filed on January 20, 2023)
21.1		List of Subsidiaries of the Company (incorporated by reference to Exhibit 21.1 to form S-1 Registration Statement filed on January 20, 2023)
\n 31.1*		\n Certification of the Company’s Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
\n 31.2*		\n Certification of the Company’s Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
\n 32.1*		\n Certification of the Company’s Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2*		Certification of the Company’s Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS		XBRL Instance Document ***
101.SCH		XBRL Taxonomy Extension Schema ***
101.CAL		XBRL Taxonomy Extension Calculation Linkbase ***
101.DEF		XBRL Taxonomy Extension Definition Linkbase ***
101.LAB		XBRL Taxonomy Extension Label Linkbase ***
101.PRE		XBRL Taxonomy Extension Presentation Linkbase ***

\n \n \n \n \n \n \n

\n	*	Filed herewith.
\n	***	In accordance with Regulation S-T, the XBRL-formatted interactive data files that comprise Exhibit 101 in this Annual Report on Form 10-K shall be deemed “furnished” and not “filed”.

Item 16. Form 10–K Summary.

Not applicable.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: October 7, 2026

Protopia Global Holdings Inc.

\n \n \n \n \n \n \n \n \n \n \n \n \n

By:	/s/ Sin Yi Cheng
	Sin Yi Cheng
	President and Director

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

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Name	Title	Date

/s/ Sin Yi Cheng	President and Director	October 7, 2026
	(Principal Executive Officer)


/s/ Ka Ki Wong	Chief Financial Officer	October 7, 2026
	(Principal Financial and Accounting Officer)

SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT

No annual report to security holders covering the registrant’s last fiscal year nor any proxy statement, form of proxy or other proxy soliciting material sent to more than ten of the registrant’s security holders with respect to any annual or other meeting of security holders. We do not expect to furnish to security holders subsequent to the filing of this Annual Report on Form 10-K for the fiscal year ended June 30, 2026, any such annual report or proxy statement, form of proxy or other proxy soliciting material.

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