Company: ILLRW
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001213900-25-006210
Chunk: 376

Company: Triller Group Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 376
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 share for HK$1 No operations since inception                                                 |     | 100% owned by OIL             |
| FinLiving Limited (“FLL”)                   |     | ● ● ● ●   | Hong Kong company Incorporated on September 14, 2021 Issued and outstanding 100 ordinary shares for HK$100 ($13) No operations since inception                                     |     | 100% owned by AGBA Innovation |

AGBA and its subsidiaries are hereinafter referred
to as the “Company”.

<div align='center'>F-52

AGBA GROUP HOLDING LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

NOTE 2 — RESTATEMENT OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS

The Company has restated the accompanying consolidated
financial statements and related disclosure for the year ended December 31, 2022 that were previously included in the Form 10-K filed
with the SEC on April 3, 2023.

Restatement Background

In June 2021, the Company received the offer from
JP Morgan Chase Holdings LLC to purchase all its equity interest in Nutmeg Saving and Investment Limited (“Nutmeg”). Nutmeg
is incorporated in the United Kingdom and engaged in the provision of online discretionary investment management services. The cash consideration
was approximately $ million (equivalent to approximately GBP million) and fully received in September 2021, resulting in a realized
gain of approximately $ million (equivalent to approximately GBP million). As of December 31, 2021, the Company recorded an income
tax payable of $ million based on the Hong Kong profit tax rate of %.

The Company corrected its previous conclusion
of provision of income tax liabilities of $ million related to the disposal of Nutmeg. The Company had previously believed that the
gain from the sale of Nutmeg should have been taxed at the % profit tax rate in Hong Kong during the year of disposal, resulting in
a recorded income tax liability of $ million. After reassessing whether income tax should be provided, the Company reviewed that there
was an error resulting from the improper application of US tax law and Hong Kong tax law due to the mistaken omission of the consideration
of Hong Kong tax law, and came to the conclusion that there should be no income tax applied when selling a long-term investment in Hong
Kong.

The impact of restatement

The impact of the accounting errors was a cumulative
reduction in the income tax provision of $ million and a