2024 Q2 Form 20-F Financial Statement

#000121390024095660 Filed on November 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 2023 Q2
Revenue $3.858M $31.47M
YoY Change -87.74%
Cost Of Revenue $1.787M $13.00M
YoY Change -86.26%
Gross Profit $2.071M $18.47M
YoY Change -88.78%
Gross Profit Margin 53.69% 58.69%
Selling, General & Admin $1.159M $7.962M
YoY Change -85.83%
% of Gross Profit 55.94% 43.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization 110.2K hkds $70.37K
YoY Change -28.65%
% of Gross Profit 5.32% 0.38%
Operating Expenses $1.172M $8.117M
YoY Change -85.56%
Operating Profit $899.6K $10.35M
YoY Change -91.31%
Interest Expense $63.12K
YoY Change
% of Operating Profit 0.61%
Other Income/Expense, Net $33.91K $403.0K
YoY Change -92.72%
Pretax Income $933.5K $10.82M
YoY Change -91.37%
Income Tax $228.5K $1.806M
% Of Pretax Income 24.47% 16.69%
Net Earnings $705.1K $9.011M
YoY Change -92.18%
Net Earnings / Revenue 18.28% 28.64%
Basic Earnings Per Share $0.04 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 16.00M shares 16.00M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2024 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.44M
YoY Change 26.71%
Cash & Equivalents $1.390M 17.45M hkds
Short-Term Investments
Other Short-Term Assets $4.006M
YoY Change 38.49%
Inventory
Prepaid Expenses $89.47K 614.5K hkds
Receivables $327.4K 2.250M hkds
Other Receivables 83.78K hkds
Total Short-Term Assets $2.075M 24.15M hkds
YoY Change -91.41% -9.3%
LONG-TERM ASSETS
Property, Plant & Equipment $26.47K 258.6K hkds
YoY Change -89.77% -89.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.936M
YoY Change 34.79%
Total Long-Term Assets $1.330M 6.124M hkds
YoY Change -78.28% -0.05%
TOTAL ASSETS
Total Short-Term Assets $2.075M 24.15M hkds
Total Long-Term Assets $1.330M 6.124M hkds
Total Assets $3.405M 30.28M hkds
YoY Change -88.75% -7.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.356K 66.08K hkds
YoY Change -91.89% -37.12%
Accrued Expenses $235.5K 746.2K hkds
YoY Change -68.44% -65.93%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $2.001M
YoY Change -31.81%
Total Short-Term Liabilities $2.416M 19.94M hkds
YoY Change -87.88% 20.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $159.9K
YoY Change
Total Long-Term Liabilities $159.9K 0.000 hkds
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.416M 19.94M hkds
Total Long-Term Liabilities $159.9K 0.000 hkds
Total Liabilities $2.576M 19.94M hkds
YoY Change -87.08% 13.55%
SHAREHOLDERS EQUITY
Retained Earnings $817.2K 10.26M hkds
YoY Change -92.03%
Common Stock $10.00K 77.63K hkds
YoY Change -87.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $829.3K 10.34M hkds
YoY Change
Total Liabilities & Shareholders Equity $3.405M 30.28M hkds
YoY Change -88.75% -7.57%

Cashflow Statement

Concept 2024 Q2 2024 2023 Q2
OPERATING ACTIVITIES
Net Income $705.1K $9.011M
YoY Change -92.18%
Depreciation, Depletion And Amortization 110.2K hkds $70.37K
YoY Change -28.65%
Cash From Operating Activities $861.3K $8.032M
YoY Change -94.65%
INVESTING ACTIVITIES
Capital Expenditures 59.45K hkds $11.74K
YoY Change 134.95%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$7.614K -$11.74K
YoY Change -69.91%
FINANCING ACTIVITIES
Cash Dividend Paid 9.461M hkds
YoY Change -4.28%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.702M -3.029M
YoY Change -86.49%
NET CHANGE
Cash From Operating Activities $861.3K 8.032M
Cash From Investing Activities -$7.614K -11.74K
Cash From Financing Activities -$1.702M -3.029M
Net Change In Cash -$847.9K 4.991M
YoY Change -124.46%
FREE CASH FLOW
Cash From Operating Activities $861.3K $8.032M
Capital Expenditures 59.45K hkds $11.74K
Free Cash Flow $801.9K $8.021M
YoY Change -95.01%

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CY2024 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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Cash
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CY2024Q2 us-gaap Cash
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CY2024 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022 us-gaap Stock Issued1
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StockIssued1
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CY2024 us-gaap Stock Issued1
StockIssued1
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CY2024 us-gaap Stock Issued1
StockIssued1
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CY2024 glxg Unpaid Deferred Ipo Costsin Dollars
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CY2024 glxg Unpaid Deferred Ipo Costsin Dollars
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CY2024 us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration:underline">Use of estimates and assumptions</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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 including provision for credit losses, and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates. Significant accounting estimates reflected in the Group’s consolidated financial statements include the estimates of provision for credit losses.</p>
CY2024Q2 us-gaap Deposits
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CY2024Q2 us-gaap Cash
Cash
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CY2024Q2 us-gaap Lessor Direct Financing Lease Term Of Contract1
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CY2024 us-gaap Concentration Risk Credit Risk
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Concentration of Risks</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Concentration of credit risk</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of cash and cash equivalents and account receivable. The Group places its cash and cash equivalents with financial institutions with high-credit ratings and quality. The Group’s credit risk with respect to cash and cash equivalents is discussed under “Cash and restricted cash” in this section.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Accounts receivable primarily comprise of amounts receivable from the service clients. Other receivables consist of out-of-pocket payments to be receivable from the service clients. To reduce credit risk, the Group performs on-going credit evaluations of the financial condition of these service clients. The Group establishes a provision for credit losses based upon estimates, factors surrounding the credit risk of specific service clients and other information.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Concentration of customers</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 30, 2024, four customers accounted for 29.0%, 23.5%, 21.0% and 18.5%, respectively, of the Group’s total accounts receivable. As of June 30, 2023, three customers accounted for 39.5%, 26.7% and 18.2%, respectively, of the Group’s total accounts receivable.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended June 30, 2024, three major customers accounted for 23.3%, 22.1% and 12.8%, respectively, of the Group’s total revenues. For the year ended June 30, 2023, three major customers accounted for 36.4%, 14.7% and 13.4%, respectively, of the Group’s total revenues. For the year ended June 30, 2022, two major customers accounted for 28.2% and 10.6%, respectively, of the Group’s total revenues.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Concentration of vendors</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 30, 2024 and 2023, one vendor accounted for 100% of the Group’s total account payable.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended June 30, 2024, three major vendors accounted for 34.4%, 20.7% and 10.4% of the Group’s total in-country partner costs, respectively. For the year ended June 30, 2023, two major vendors accounted for 37.9% and 27.7% of the Group’s total in-country partner costs, respectively. For the year ended June 30, 2022, three major vendors accounted for 54.3%, 12.1% and 10.6% of the Group’s total in-country partner costs, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Foreign currency exchange risk</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There is a linked exchange rate system implemented in Hong Kong to stabilize the exchange rate between the Hong Kong dollar (HKD) and the United States dollar (USD). The value of RMB against the U.S. dollar and other currencies may fluctuate and is affected by, among other things, changes in political and economic conditions and the foreign exchange policy adopted by the PRC government. It is difficult to predict how market forces or PRC or U.S. government policy may impact the exchange rate between the RMB and the U.S. dollar in the future. There remains significant international pressure on the PRC government to adopt a more flexible currency policy, which could result in greater fluctuation of the RMB against the U.S. dollar. The Group is a holding Group and it relies on dividends paid by the Group’s operating subsidiaries in China for its cash needs. Any significant revaluation of the RMB may materially and adversely affect its liquidity and cash flows. To the extent that the Group needs to convert U.S. dollars into RMB for its operations, appreciation of the RMB against the U.S. dollar would have an adverse effect on the RMB amount the Group would receive. Conversely, if the Group decides to convert RMB into U.S. dollars for other business purposes, appreciation of the U.S. dollar against the RMB would have a negative effect on the U.S. dollar amount the Group would receive.</p>
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CY2024 us-gaap Revenues
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CY2024 us-gaap Revenues
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CY2022 us-gaap Revenues
Revenues
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Revenues
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CY2024 us-gaap Revenues
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CY2024 us-gaap Revenues
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CY2024 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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CY2024 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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CY2024 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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CY2024 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
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CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
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CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
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CY2024Q2 us-gaap Prepaid Expense Current
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CY2024Q2 glxg Other Deposits
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CY2024Q2 glxg Other Deposits
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CY2023Q2 us-gaap Rental Properties
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CY2024Q2 us-gaap Other Receivables
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CY2024Q2 us-gaap Other Receivables
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CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
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CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
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CY2023Q2 us-gaap Property Plant And Equipment Gross
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CY2024Q2 us-gaap Property Plant And Equipment Gross
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CY2024Q2 us-gaap Property Plant And Equipment Gross
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CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2024Q2 us-gaap Property Plant And Equipment Net
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CY2024 us-gaap Depreciation
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CY2024 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023Q2 us-gaap Accrued Liabilities Current
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CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
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CY2024Q2 us-gaap Accrued Liabilities Current
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CY2023Q2 glxg Refundable Deposits Received For Employment Services
RefundableDepositsReceivedForEmploymentServices
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CY2024Q2 glxg Refundable Deposits Received For Employment Services
RefundableDepositsReceivedForEmploymentServices
4374532 hkd
CY2024Q2 glxg Refundable Deposits Received For Employment Services
RefundableDepositsReceivedForEmploymentServices
560241 usd
CY2023Q2 us-gaap Employee Related Liabilities Current
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EmployeeRelatedLiabilitiesCurrent
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DepositLiabilityCurrent
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CY2024Q2 us-gaap Deposit Liability Current
DepositLiabilityCurrent
10257 usd
CY2023Q2 us-gaap Dividends Payable Current
DividendsPayableCurrent
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CY2024Q2 us-gaap Dividends Payable Current
DividendsPayableCurrent
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CY2024Q2 us-gaap Dividends Payable Current
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CY2023Q2 us-gaap Deferred Income Current
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CY2024Q2 us-gaap Deferred Income Current
DeferredIncomeCurrent
47000 hkd
CY2024Q2 us-gaap Deferred Income Current
DeferredIncomeCurrent
6019 usd
CY2023Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
13165562 hkd
CY2024Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
14466134 hkd
CY2024Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1852661 usd
CY2023Q2 us-gaap Loans Payable To Bank Current
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CY2024 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
729 usd
CY2024Q2 glxg Percentage Of Share Capital
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0.50 pure
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1203099 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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10816343 hkd
CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2024 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2024 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
228450 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2024Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2024Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
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CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
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CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
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CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
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CY2024Q2 us-gaap Foreign Currency Transaction Gain Before Tax
ForeignCurrencyTransactionGainBeforeTax
9969 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
27254343 hkd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
10816343 hkd
CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
7289292 hkd
CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.165 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.165 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2024 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2024 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
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CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
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CY2024 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
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CY2024 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
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CY2022 glxg Income Tax Rate Reconciliation Nontaxable Income
IncomeTaxRateReconciliationNontaxableIncome
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CY2023 glxg Income Tax Rate Reconciliation Nontaxable Income
IncomeTaxRateReconciliationNontaxableIncome
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CY2024 glxg Income Tax Rate Reconciliation Nontaxable Income
IncomeTaxRateReconciliationNontaxableIncome
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CY2024 glxg Income Tax Rate Reconciliation Nontaxable Income
IncomeTaxRateReconciliationNontaxableIncome
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CY2022 glxg Income Tax Rate Reconciliation Preferential Rate
IncomeTaxRateReconciliationPreferentialRate
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CY2023 glxg Income Tax Rate Reconciliation Preferential Rate
IncomeTaxRateReconciliationPreferentialRate
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CY2024 glxg Income Tax Rate Reconciliation Preferential Rate
IncomeTaxRateReconciliationPreferentialRate
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CY2024 glxg Income Tax Rate Reconciliation Preferential Rate
IncomeTaxRateReconciliationPreferentialRate
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CY2022 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
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CY2023 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
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CY2024 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
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CY2024 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
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CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
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CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2024 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
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CY2024 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
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CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
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CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
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CY2024 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
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CY2024 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
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CY2023 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
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CY2024 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
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CY2024 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.17 pure
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2024 us-gaap Effective Income Tax Rate Continuing Operations
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CY2024 us-gaap Effective Income Tax Rate Continuing Operations
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CY2024Q2 us-gaap Earnings Per Share Diluted
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CY2023Q2 us-gaap Earnings Per Share Basic
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CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2024Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
181237 usd
CY2024 us-gaap Related Party Transaction Amounts Of Transaction
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78086 hkd
CY2024 us-gaap Related Party Transaction Amounts Of Transaction
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CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2024 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2024 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2023Q2 us-gaap Operating Lease Liability Current
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CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1095621 hkd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
140315 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1248510 hkd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2344131 hkd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
300210 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P0Y10M24D
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P2Y2M12D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.047 pure
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.036 pure
CY2023 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
1147124 hkd
CY2024 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
1159214 hkd
CY2024 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
148459 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1167568 hkd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
149529 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
126106 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
306849 hkd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
39298 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2459088 hkd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
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CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
14723 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
300210 usd
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OperatingLeaseExpense
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CY2024 us-gaap Short Term Lease Cost
ShortTermLeaseCost
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CY2024Q2 glxg Shares Issued Percentage
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0.50 pure
CY2024 us-gaap Dividends
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CY2024 us-gaap Payments Of Dividends
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CY2024Q2 us-gaap Dividends Payable Amount Per Share
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CY2024Q2 us-gaap Stockholders Equity Note Subscriptions Receivable
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10000 usd
CY2024 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
1,600:1
CY2024 dei Document Accounting Standard
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U.S. GAAP
CY2024Q2 us-gaap Restricted Cash Current
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CY2024Q2 us-gaap Restricted Cash Current
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CY2023Q2 us-gaap Deposits Assets Noncurrent
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CY2024Q2 us-gaap Loans Payable To Bank Current
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CY2024Q2 us-gaap Loans Payable To Bank Current
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CY2023Q2 us-gaap Operating Lease Liability Noncurrent
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CY2023Q2 us-gaap Commitments And Contingencies
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CY2024Q2 us-gaap Commitments And Contingencies
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CY2024Q2 us-gaap Commitments And Contingencies
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CY2023 us-gaap Common Stock Shares Authorized Unlimited
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Unlimited
CY2024 us-gaap Common Stock Shares Authorized Unlimited
CommonStockSharesAuthorizedUnlimited
Unlimited
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Proceeds From Bank Debt
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CY2024 us-gaap Proceeds From Bank Debt
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CY2024 us-gaap Proceeds From Bank Debt
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CY2024Q2 us-gaap Restricted Cash
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CY2024Q2 us-gaap Restricted Cash
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CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022 glxg Unpaid Deferred Ipo Costsin Dollars
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CY2023Q2 us-gaap Accounts Receivable Net
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19022 hkd
CY2024Q2 us-gaap Cash
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CY2023Q2 us-gaap Cash
Cash
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CY2024Q2 us-gaap Deposits
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OperatingLeaseExpense
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CY2022 us-gaap Operating Lease Expense
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CY2023 glxg Consultancyand Market Research Services Revenue
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CY2024 glxg Consultancyand Market Research Services Revenue
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CY2024 us-gaap Provision For Doubtful Accounts
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CY2023 us-gaap Provision For Doubtful Accounts
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CY2022 us-gaap Provision For Doubtful Accounts
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CY2024Q2 us-gaap Rental Properties
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CY2024Q2 us-gaap Rental Properties
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CY2024Q2 us-gaap Other Receivables Net Current
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CY2024Q2 us-gaap Other Receivables Net Current
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CY2024 us-gaap Depreciation
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CY2023 us-gaap Depreciation
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CY2022 us-gaap Depreciation
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CY2024 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
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CY2024Q2 us-gaap Loans Payable To Bank Current
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CY2023Q2 us-gaap Deferred Tax Assets Net
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CY2024Q2 us-gaap Deferred Tax Assets Net
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CY2024Q2 us-gaap Deferred Tax Assets Net
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CY2022 us-gaap Income Tax Reconciliation Prior Year Income Taxes
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CY2024 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
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CY2024 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
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CY2022 us-gaap Income Tax Reconciliation Other Adjustments
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CY2023 us-gaap Income Tax Reconciliation Other Adjustments
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CY2024Q2 us-gaap Unrecognized Tax Benefits
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CY2023Q2 us-gaap Income Tax Reconciliation Tax Exempt Income
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600000 mop
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CY2024Q2 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2024Q2 us-gaap Foreign Currency Transaction Gain Before Tax
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CY2023 us-gaap Related Party Transaction Amounts Of Transaction
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OperatingLeaseExpense
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OperatingLeaseExpense
1251597 hkd
CY2024 us-gaap Short Term Lease Cost
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27467 hkd
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
86395 hkd
CY2022 us-gaap Short Term Lease Cost
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94376 hkd
CY2024Q2 us-gaap Dividends Payable Amount Per Share
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CY2023Q2 us-gaap Dividends Payable Amount Per Share
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CY2024 dei Amendment Flag
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CY2024 dei Document Fiscal Period Focus
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CY2024 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
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CY2024 dei Entity Central Index Key
EntityCentralIndexKey
0001905920

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0001213900-24-095660-index.html Edgar Link pending
0001213900-24-095660.txt Edgar Link pending
0001213900-24-095660-xbrl.zip Edgar Link pending
ea0217525-20f_galaxy.htm Edgar Link pending
ea021752501ex12-1_galaxy.htm Edgar Link pending
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ea021752501ex97-1_galaxy.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
glxg-20240630.xsd Edgar Link pending
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report.css Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
glxg-20240630_cal.xml Edgar Link unprocessable
glxg-20240630_lab.xml Edgar Link unprocessable
glxg-20240630_def.xml Edgar Link unprocessable
glxg-20240630_pre.xml Edgar Link unprocessable