Company: BGHL
Filing Date: 2025-09-22
Form Type: F-1/A
Source: 0001213900-25-089787
Chunk: 187

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-09-22
Form: F-1/A
Chunk 187
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 provision for write -downon inventories of HK$5,260 and nil during the years ended December 31, 2024 and 2023, respectively. 5. ACCOUNTS RECEIVABLE, NET

|                     |     |        As at 
 December 31, 
         2024 |     |        As at 
 December 31, 
         2024 |     |        As at 
 December 31, 
         2023 |
|:--------------------|:----|-------------:|:----|-------------:|:----|-------------:|
|                     |     |          US$ |     |          HK$ |     |          HK$ |
| Accounts receivable |     |    5,474,011 |     |   42,697,286 |     |   12,263,998 |

The Group normally allows credit terms to customers ranging from 60 to 90 days. The Group seeks to maintain strict control over its accounts receivable. Overdue accounts receivable is reviewed regularly by the Board of Directors. There was no allowance for credit losses or write -offduring the years ended December 31, 2024 and 2023. As of the date of this report, all accounts receivable as of December 31, 2024 has been collected.

F-12

BILLION GROUP HOLDINGS LIMITED
NOTES TO THE COMBINED FINANCIAL STATEMENTS 5. ACCOUNTS RECEIVABLE, NET(cont.) A concentration analysis of accounts receivable is as follows:

|            |     |        As at 
 December 31, 
         2024 |   |     |        As at 
 December 31, 
         2023 |   |
|:-----------|:----|-------------:|:--|:----|-------------:|:--|
| Customer A |     |           20 | % |     |           23 | % |
| Customer B |     |            0 | % |     |           12 | % |
| Customer C |     |           11 | % |     |            0 | % |
| Customer D |     |           10 | % |     |            0 | % |
| Customer E |     |           22 | % |     |            0 | % |
| Customer F |     |           18 | % |     |           11 | % |
| Customer G |     |            3 | % |     |