Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 60

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 60
---
 financial
condition and results of operations.”

The continuing shift in customer
preference from print media to digital media, as well as growing customer engagement with digital media and social platforms, has introduced
significant new competition for advertising. Our revenues from print advertising may decline over time as the media industry has transitioned
from being primarily print-focused to digital. Print advertising revenue may decline more quickly than we anticipate, which could create
additional pressure on our profitability.

We also offer digital advertising
to our customers. We compete with companies with large digital platforms, which have greater audience reach, audience data and targeting
capabilities than we do. These companies may command a large share in the context of digital advertising, and we anticipate that this
will continue. In addition, there is increasing demand for digital advertising in formats that are dominated by these platforms, particularly
vertical short-form video and streaming, and we may not be able to compete effectively in these formats. The remaining market is subject
to significant competition among publishers and other content providers, as well as audience fragmentation. These dynamics have affected,
and will likely continue to affect, our ability to attract and retain advertisers and to maintain or increase our advertising rates.

Significant disruptions
in our printing and distribution channels, or a significant increase in the costs to print and distribute our print publications, would
have an adverse effect on our operating results.

Our print publications are
printed and distributed under contracts with print and distribution partners worldwide. Our print partners rely on suppliers for deliveries
of paper. The price of paper has historically been volatile, and its availability may be affected by various factors, including supply
chain disruptions, transportation issues, labor shortages or unrest, conversion to paper grades other than paper and other disruptions
that may affect production or deliveries of paper. A significant increase in the price of paper, or a significant disruption in our partners’
paper supply chain, would adversely affect our operating results.

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Financial pressures, print
publication industry trends or economics, labor shortages or unrest, changing legal obligations regarding classification of workers or
other circumstances that affect our print and distribution partners and lead to reduced operations or consolidations or closures of print
sites or distribution routes may increase the cost of printing and distributing our print publications, decrease our revenues if printing
and distribution are disrupted and impact the quality of our printing and distribution. The geographic scope and frequency with which
magazines are printed and distributed by our partners at times affects our ability to print and distribute our print publications and
can