Company: BGHL
Filing Date: 2025-09-11
Form Type: F-1/A
Source: 0001213900-25-086807
Chunk: 179

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-09-11
Form: F-1/A
Chunk 179
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 after the reorganization; therefore, the reorganization is considered a recapitalization of entities under common control. The recapitalization of the Group was accounted for at historical cost, with no goodwill or intangible assets recorded, and the combined financial statements are presented as if the aforementioned transactions were effective as of the beginning of the first period presented. Results and operations for the periods presented comprise those of the previous separate entities combined from January1, 2023. (b)Basis of presentation under common control business combination A business combination involving entities under common control is a business combination in which all the combining entities or businesses are ultimately controlled by the same party or parties both before and after the business combination, and that control is not transitory. For such common control business combinations, the merger accounting principles are applied to include the assets, liabilities, results, changes in equity and cash flows of the combining entities in the combined financial statements. In applying merger accounting, components of financial statements of the combining entities or businesses for the reporting periods in which the common control combination occurs are included in the combined financial statements of the combined entities as if the combination had occurred from the date when the combining entities or businesses first came under the control of the controlling party or parties. A single uniform set of accounting policies is adopted by the combined entities. Therefore, the combined entity recognized the assets, liabilities and equity of the combining entities or businesses at the carrying amounts recognized previously in the combined financial statements of the controlling party or parties prior to the common control combination. The carrying amounts are included as if such combined financial statements had been prepared by the controlling party or parties, including adjustments required to conform to the combined entity’s accounting policies and applying those policies to all periods presented. There is no recognition of any goodwill or excess of the acquirer’s interest in the net fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities over cost at the time of the common control combination. The effects of all transactions between the combining entities or businesses, whether occurring before or after the combination, are eliminated in preparing the combined financial statements of the combined entity.

F-7 BILLION GROUP HOLDINGS LIMITED
NOTES TO THE COMBINED FINANCIAL STATEMENTS 1. SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (cont.) The combined financial statements include the financial statements of Harmony Alliance and Billion Enterprise International Limited. Subsidiaries are all entities over which the Group has control. Control exists when the Group has the power to govern the financial and operating policies of