Company: CHOW
Filing Date: 2025-03-19
Form Type: DRS/A
Source: 0001493152-25-010898
Chunk: 166

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-03-19
Form: DRS/A
Chunk 166
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cribed below) or the IRS consents to its revocation. The excess distribution rules generally do not
apply to a U.S. Holder for tax years for which a mark-to-market election is in effect. However, if a U.S. Holder makes a mark-to-market
election for PFIC stock after the beginning of the holder’s holding period for the stock, a coordination rule applies to ensure
that the holder does not avoid the tax and interest charge with respect to amounts attributable to periods before the election.

A mark-to-market
election is available only if the Ordinary Shares are considered “marketable” for these purposes. Shares will be marketable
if they are regularly traded on a national securities exchange that is registered with the Securities and Exchange Commission or on a
non-U.S. exchange or market that the IRS determines has rules sufficient to ensure that the market price represents a legitimate and
sound fair market value. For these purposes, Ordinary Shares will be considered regularly traded during any calendar year during which
they are traded, other than in de minimis quantities, on at least 15 days during each calendar quarter. Any trades that have as their
principal purpose meeting this requirement will be disregarded. Each U.S. Holder should ask its own tax advisor whether a mark-to-market
election is available or desirable

Because a mark-to-market election cannot technically be made for any lower-tier PFICs that we may own, a U.S. Holder may continue to be subject to the PFIC rules with respect to such U.S. Holder’s indirect interest in any investments held by us that are treated as an equity interest in a PFIC for U.S. federal income tax purposes.

If a U.S. Holder owns the Ordinary Shares during any taxable year that we are a PFIC, the holder must generally file an annual IRS Form 8621. A U.S. Holder must also provide such other information as may be required by the U.S. Treasury Department if the U.S. Holder (i) receives certain direct or indirect distributions from a PFIC, (ii) recognizes gain on a direct or indirect disposition of PFIC stock, or (iii) makes certain elections (including a QEF election or a mark-to-market election) reportable on IRS Form 8621. You should consult your tax advisor regarding the U.S. federal income tax consequences of owning and disposing of the Ordinary Shares if we are or become a PFIC.

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<div align='center'>Underwriting</div>

We will enter into an