{"url_path":"/sec/gibow/10-k/2026/item-7","section_key":"item-7","section_title":"Item 7 MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/2034520/0001493152-26-023628-index.html","accession_number":"0001493152-26-023628","cik":"0002034520","ticker":"GIBO","issuer_name":"GIBO HOLDINGS Ltd","edgar_url":"https://www.sec.gov/Archives/edgar/data/2034520/0001493152-26-023628-index.html","primary_entity_key":"0002034520","primary_entity_name":"GIBO HOLDINGS Ltd"},"word_count":905,"has_tables":true,"body_markdown":"**ITEM\n7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS**\n\n \n\n**A.**\n**Major\nShareholders**\n\n \n\nThe\nfollowing table sets forth information regarding the beneficial ownership of our Ordinary Shares by:\n\n \n\n \n●\neach\nperson who is expected to beneficially own 5.0% or more of our outstanding Ordinary Shares;\n\n \n \n \n\n \n●\neach\nof our executive officers and directors; and\n\n \n \n \n\n \n●\nall\nof those executive officers and directors as a group.\n\n \n\nBeneficial\nownership is determined in accordance with the rules of the SEC and includes voting or investment power with respect to, or the power\nto receive the economic benefit of ownership of, the securities. In computing the number of shares beneficially owned by a person and\nthe percentage ownership of that person, shares that the person has the right to acquire within 60 days are included, including through\nthe exercise of any option or other right or the conversion of any other security. However, these shares are not included in the computation\nof the percentage ownership of any other person.\n\n \n\n64\n\n \n\n \n\nThe percentage of our Ordinary Shares beneficially owned by the parties\nlisted below is calculated based on 65,117,623 Ordinary Shares (including 60,849,977 Class A Ordinary Shares and 4,267,646 Class B Ordinary\nShares) issued and outstanding as of April 15, 2026.\n\n \n\n \n \n\n**Number of**\n\n**Class A Ordinary**\n\n**Shares**\n\n \n \n\n**Number of**\n\n**Class B Ordinary Shares**\n\n \n \n**% of Ordinary Shares**\n \n \n**% of Voting Power**\n \n\n**Directors and Executive Officers (1)**\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\nChun Yen “Dereck” Lim\n \n \n-\n \n \n \n2,371,870\n \n \n \n3.6\n%\n \n \n32.4\n%\n\nJing Tuang “Zelt” Kueh\n \n \n-\n \n \n \n1,313,237\n \n \n \n2.0\n%\n \n \n18.0\n%\n\nKwan Chen “Katrina” Hung\n \n \n35,662\n \n \n \n-\n \n \n \n0.1\n%\n \n \n0.0\n%\n\nLi Noi Chia\n \n \n-\n \n \n \n-\n \n \n \n-\n \n \n \n-\n \n\nBee Lian Ooi\n \n \n25\n \n \n \n-\n \n \n \n0.0\n%\n \n \n0.0\n%\n\nPeter Ban\n \n \n-\n \n \n \n-\n \n \n \n-\n \n \n \n-\n \n\n**All Director and Executive Officers as a Group**\n \n \n35,687\n \n \n \n3,695,107\n \n \n \n5.7\n%\n \n \n50.4\n%\n\n**5.0% Shareholders**\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\nChen Xiaoping\n \n \n-\n \n \n \n3,277,300\n \n \n \n5.0\n%\n \n \n2.2\n%\n\nQuan Qinghua\n \n \n-\n \n \n \n3,269,988\n \n \n \n5.0\n%\n \n \n2.2\n%\n\n \n\n*Notes:*\n\n \n\n \n(1)\nThe business address of each of our directors and officers is 3A-1A, Menara Khuan Choo, Jalan Raja Chulan,\nBukit Bintang, 50200, Kuala Lumpur, Malaysia.\n\n \n\n**B.**\n**Related\nParty Transactions**\n\n** **\n\n**Agreements\nRelated to the Business Combination**\n\n \n\nOn\nMay 8, 2025, we consummated the Business Combination pursuant to the Business Combination Agreement. See “*Item 4. Information\nOn the Company—A. History and Development of the Company.” In connection with and pursuant to the Business Combination Agreement,\ncertain agreements were entered into between us and certain related parties*.”\n\n* *\n\n**Registration\nRights Agreement**\n\n \n\nAt\nthe Second Merger Effective Time, we and certain other parties entered into a Registration Rights Agreement, pursuant to which we granted\ncertain registration rights with respect to our securities held by such other parties following the closing of the Business Combination.\n\n* *\n\n**Assignment,\nAssumption and Amendment Agreement**\n\n \n\nIn\nconjunction with the closing of the Second Merger, we entered into an Assignment, Assumption and Amendment Agreement with BUJA and Continental\nStock Transfer & Trust Company, LLC (the “Warrant Agent”), which amended that certain Warrant Agreement, dated as of\nJune 27, 2023 (the “Warrant Agreement”), by and between BUJA and the Warrant Agent pursuant to which (i) BUJA assigned to\nus, and we assumed, all of BUJA’s right, title and interest in and to the Warrant Agreement, and (ii) each whole BUJA warrant were\nmodified to no longer entitle the holder to purchase BUJA’s ordinary shares and instead acquire an equal number of our Class A\nOrdinary Shares under terms as described therein.\n\n** **\n\n65\n\n \n\n** **\n\n**Transactions\nwith Related Parties**\n\n****\n\n \n\n*Services\nreceived from related parties*\n\n \n\nIn 2025, 2024 and 2023, we\nreceived services from related parties consisting of the following:\n\n \n\n  \nFor the year ended December 31,\n \n\nName \n2025  \n2024 \n \n**2023**\n \n\nChinese Top Asset Management Holdings Limited \n$-  \n$115,000,000 \n \n \n\n-\n\n \n\nBillion Start Enterprise Limited \n -  \n 19,000,000 \n \n \n\n-\n\n \n\nDragon Huge Development Limited \n 6,800,000  \n 13,000,000 \n \n \n\n-\n\n \n\nTreasure Nice Investment Limited \n -  \n 9,000,000 \n \n \n\n-\n\n \n\nTotal Services received from related parties \n$6,800,000  \n$156,000,000 \n \n\n-\n\n \n\n \n\n*Due\nto related parties*\n\n \n\nAs of December 31, 2025, 2024\nand 2023, amounts due to related parties were $26.1 million, $24.1 million and $1.5 million, respectively.\n\n \n\nOn\nNovember 11, 2024, we entered into an equipment purchase agreement with a related party supplier, Chinese Top Asset Management\nHoldings Limited (“CTA”), to purchase a set of equipment from CTA with an aggregate purchase price of $51.8 million. On\nNovember 25, 2024, we notified one of our customers, Grand Harvest Corporation Limited, to pay $30 million owed to us to CTA, in\norder to speed up the settlement process and streamline cash flow management of each party. As a result, our of due to CTA was\n$21,800,000 and $21,800,000 as of December 31,\n2025 and 2024, respectively.\n\n \n\nAs of December 31, 2025, 2024\nand 2023, our balance due to other related parties, excluding CTA, was comprised of advance from our directors, officers and shareholders\nand was non-trade in nature and unsecured, used for working capital during our normal course of business. Such advance was non-interest\nbearing and due on demand.\n\n \n\n66\n\n \n\n \n\n*Loan\nfrom related parties*\n\n \n\nAs\nof December 31, 2025, 2024 and 2023, the balance of\nloan from related parties was $114.1 million, $1.1 million and nil, respectively. Such loan was comprised of loan from our shareholders and was non-trade in nature and unsecured, used for working capital during our\nnormal course of business. Such loan was 3% or 5% per annum interest rate bearing and due after year 2026.\n\n \n\n**Employment\nAgreements and Indemnification Agreements**\n\n \n\nSee “Item 6. Directors, Senior Management and Employees—B. Compensation.”\n\n \n\n**C.**\n**Interests\nof Experts and Counsel**\n\n \n\nNot applicable."}