Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 299

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 299
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S GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

| 14. | FINANCIAL ASSETS AT FVTPL (cont.) |

During the year ended December 31,
2022, 2023 and 2024, the Group entered into movie income right agreements with certain production houses. The Group is entitled to certain
percentage of the variable profit derived from the release of the films upon entering into relevant agreements. The Group may be required
to further contribute to the movie production programs due to the budget overruns. Any agreed further contribution to the film programs
due to the budget overruns will be added to the carrying amounts of financial assets.

During the year ended December 31,
2024, AMTD Digital Inc. injected 34,819,047 Class A ordinary shares into the Group in exchange for the issuance of the shares of
the Company to AMTD Digital Inc. with details disclosed in note 28. As of December 31, 2024, the carrying amount of the listed equity
shares of AMTD Digital Inc. is US$257,661,000.

Certain listed equity shares, unlisted
equity shares and movie income right investments are not held for trading. Instead, they are held for medium to long-term strategic purposes.
The directors of the Company do not expect to realize these investments within 12 months and, accordingly, these investments are
classified as non-current assets.

| 15. | ACCOUNTS RECEIVABLE |

|                                                                 |     | As of December 31, |       |     |         |       |     |         |       |
|                                                                 |     |               2022 |       |     |    2023 |       |     |    2024 |       |
|                                                                 |     |            US$’000 |       |     | US$’000 |       |     | US$’000 |       |
| Receivables from media and entertainment services               |     |                    | 2,759 |     |         | 5,228 |     |         | 4,973 |
| Receivables from hotel operations, hospitality and VIP services |     |                    |    72 |     |         |   111 |     |         | 1,484 |
| Total                                                           |     |                    | 2,831 |     |         | 5,