Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 131

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 19
Chunk 131
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736 6,212,101 1,105,998 142,384

The
following tables present information about the Group’s assets that were measured at fair value on a recurring basis as of December
31, 2024 and 2023 and indicate the fair value hierarchy of the valuation techniques the Group utilized to determine such fair value.

SCHEDULE OF FAIR VALUE ON A
RECURRING BASIS

                                       Quoted       Significant      Significant   
                                       Prices       Other            Other         
                                       In           Observable       Unobservable  
                                       Active                                      
                         December      Markets      Inputs           Inputs        
                         31,                                                       
                         2024          (Level       (Level           (Level        
                                       1)           2)               3)            
                         HK$           HK$          HK$              HK$           
 ───────────────────────────────────────────────────────────────────────────────────
  Assets:                                                                          
  Non-marketable                                                                   

MAGIC
EMPIRE GLOBAL LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

  SUMMARY                                     
  OF SIGNIFICANT ACCOUNTING POLICIES (cont.)  
 ──────────────────────────────────────────────

                                       Quoted       Significant      Significant   
                                       Prices       Other            Other         
                                       In           Observable       Unobservable  
                                       Active                                      
                         December      Markets      Inputs           Inputs        
                         31,                                                       
                         2023          (Level       (Level           (Level        
                                       1)           2)               3)            
                         HK$           HK$          HK$              HK$           
 ───────────────────────────────────────────────────────────────────────────────────
  Assets: -                                                                        
  Non-marketable                                                                   

The
Group’s non-marketable equity securities are investments in privately held companies, which are without readily determinable market
values and are classified as Level 3, due to the absence of quoted market prices, the inherent lack of liquidity and the fact that inputs
used to measure fair value are unobservable and require management’s judgment.

Fair
value estimates are made at a specific point in time based on relevant market information about the financial instrument. These estimates
are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision.
Changes in assumptions could significantly affect the estimates.

Revenue
recognition

The
Group applied ASC Topic 606 “ Revenue from Contracts with Customers” (“ ASC 606”) for all periods presented.

The
five-step model defined by ASC 606 requires