Company: CHOW
Filing Date: 2025-05-29
Form Type: F-1/A
Source: 0001641172-25-012773
Chunk: 100

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-05-29
Form: F-1/A
Chunk 100
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4 mainly driven by the drop of one-off government subsidy during the year ended December 31, 2024.

Income tax expenses

For the year ended December 31, 2024, the Company recorded a profit before tax of HK$14.1 million (US$1.8 million), which was comparable to the previous fiscal year. As a result, the income tax expense for the year ended December 31, 2024 was HK$2.2 million (US$0.3 million), consistent with the previous fiscal year

Net income

As a result of the above discussed, we recorded a net income of HK$11.9 million (US$ 1.5million) for the year ended December 31, 2024, representing a slightly decrease of HK$ 0.2million or 1.9% from a net income of HK$12.1 million for the year ended December 31, 2023.

| 61 |

Liquidity and Capital Resources

We financed our daily operations and business development through cash generated from the operations of SCS. As of December 31, 2023 and 2024, our cash and cash equivalents balance were HK$ 9.9million and HK$ 10.5million (US$ 1.3million), respectively.

The following table set forth a summary of our cash flows for the years indicated:

|                                       |     | Year               
 ended December 31, |       2023 |   |     |     |       2024 |   |     |     |      2024 |   |
|:--------------------------------------|:----|:-------------------|-----------:|:--|:----|:----|-----------:|:--|:----|:----|----------:|:--|
|                                       |     | HK$                |            |   |     | HK$ |            |   |     | US$ |           |   |
| Net                                   
 cash provided by operating activities |     |                    |  8,249,163 |   |     |     |  7,934,436 |   |     |     | 1,017,235 |   |
| Net                                   
 cash used in investing activities     |     |                    |   (980,807 | ) |     |     | (1,213,177 | ) |     |     |  (153,536 | ) |
| Net                                   
 cash used in financing activities