Company: CHOW
Filing Date: 2025-05-29
Form Type: F-1/A
Source: 0001641172-25-012773
Chunk: 211

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-05-29
Form: F-1/A
Chunk 211
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 meet short-term obligations. As of December 31, 2024, the Company has sufficient cash and cash equivalents to settle its current liabilities, including accounts payable, as they become due.

The Company does not anticipate any liquidity constraints in settling remaining payables and maintains adequate working capital reserves to ensure the timely settlement of all liabilities.

12. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

The following table presents the balances of accrued expenses and other current liabilities as of December 31, 2023, and December 31, 2024:

|                      |     |              As 
 of December 31, |           |     |      |         |     |             |         |
|                      |     |            2023 |           |     | 2024 |         |     |             |         |
|                      |     |             HK$ |           |     |  HK$ |         |     | US$         
 (Note 2(e)) |         |
| Payroll              
 and welfare payables |     |                 |   272,685 |     |      | 798,023 |     |             | 102,311 |
| Accrued              
 expenses             |     |                 | 1,250,987 |     |      |  40,788 |     |             |   5,229 |
|                      |     |                 | 1,523,672 |     |      | 838,811 |     |             | 107,540 |

| F-34 |

Payroll and Welfare Payables: The payroll and welfare payables represent amounts owed to employees for services rendered and the associated mandatory provident fund (MPF) contributions. Under the Hong Kong MPF Scheme, the Company is required to make contributions based on a percentage of qualified employees’ salaries. The Company recognized employee benefit expenses of HK$3,513,248 and HK$5,738,353 (US$735,686) for the years ended December 31, 2023, and 2024, respectively.

Composition of Accrued Expenses

Accrued expenses primarily consist of amounts due for office operating expenses related to ongoing operational activities. These expenses are recognized as liabilities when the Company has received the services but has not yet paid for them as of the balance sheet date.

Timing and Classification

All amounts recorded in accrued expenses and other current liabilities are classified as current liabilities and are expected to be settled within 12 months of the balance sheet date. These liabilities represent the