Company: GRAN
Filing Date: 2025-03-14
Form Type: F-1/A
Source: 0001213900-25-023979
Chunk: 250

Company: Grande Group Ltd/HK
Filing Date: 2025-03-14
Form: F-1/A
Chunk 250
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 850 -10-50-5: “Transactions involving related parties cannot be presumed to be carried out on an arm’s -lengthbasis, as the requisite conditions of competitive, free -marketdealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s -lengthtransactions unless such representations can be substantiated.” Foreign currency translation The accompanying consolidated financial statements are presented in United States dollar (“$”). The functional currency of Grande Capital is the Hong Kong dollar (“HK$”). The assets and liabilities of Grande Capital are translated into $ from HK$ at the year -endexchange rate. Its revenues and expenses are translated at the average exchange rate during the year. Capital accounts are translated at their historical exchange rates when the capital transactions occurred. The year -endand year -averageexchange rates are as follows:

|        |     | March 31, |     |              |     |          |     |              |
|        |     |      2024 |     |              |     |     2023 |     |              |
|        |     |  Year-end |     | Year-average |     | Year-end |     | Year-average |
| $: HK$ |     |    7.8000 |     |       7.8000 |     |   7.8000 |     |       7.8000 |

Adoption of new accounting standard In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014 -09, “Revenue from Contracts with Customers” (Topic 606). ASU 2014 -09provides a single comprehensive revenue recognition framework and supersedes almost all existing revenue recognition guidance including industry -specificrevenue guidance. Included in the new principle -basedrevenue recognition model are changes to the basis for determining the timing of revenue recognition. In addition, the standard expands and improves revenue

F-9

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) disclosures. The Company adopted the new standard effective April 1, 2021, the first day of the Company’s fiscal year, using the modified retrospective approach. As part of the adoption of this standard, the Company was required to apply the standard to new contracts and those not completed as of the date of adoption. In June 2016, the FASB