Company: BGHL
Filing Date: 2025-10-01
Form Type: F-1/A
Source: 0001213900-25-094318
Chunk: 89

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-10-01
Form: F-1/A
Chunk 89
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 2023, the amounts due from former related companies were HK$2,969,602. There were no amounts due from former related companies as at December 31, 2024 as all outstanding receivable balances were settled in full during the year ended December 31, 2024. Accounts payable As at December 31, 2024, accounts payable was HK$10,017,835, representing an increase of HK$1,084,861 or 12.1%, as compared to HK$8,932,974 as of December 31, 2023. The increase in accounts payable was due to the increase in purchases from suppliers for the year ended December 31, 2024 as compared to 2023 in order to cope with the increase in sales. Accrued expenses and other current liabilities As at December 31, 2024, accrued expenses and other current liabilities were HK$502,847, representing an increase of HK$70,237 or 16.2%, as compared to HK$432,610 as of December 31, 2023. The increase was contributed by the increase in accrued transportation fee. The operating entity used to engage with a logistics company to deliver its wines during peak season. Given the increase in orders of wines for the year ended December 31, 2024, the related transportation fee also increased and remained unsettled as at December 31, 2024. 47 Amounts due to former related companies As at December 31, 2024, amounts due to former related companies were HK$24,467,821, representing an increase of HK$7,616,492 or 45.2%, as compared to HK$16,851,329 as of December 31, 2023. The amounts due were resulted mainly from advances from the former holding company and fellow subsidiaries to support the business operations of the operating entity. The operating entity was making loss in 2022. There was improvement in the operating results so that the operating entity was able to reach a modest profit in 2023. Still its operations were relied upon the financial support from the former group companies. The increase in amounts due to former related companies was due to the increase in working capital requirements of the operating entity to support its business operations in the first quarter of 2024. The current shareholder acquired all equity interest of Harmony Alliance at March 31, 2024. Current tax liabilities The operating entity has been profit making for the years ended December