Company: CHOW
Filing Date: 2025-04-01
Form Type: F-1
Source: 0001641172-25-001938
Chunk: 276

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-04-01
Form: F-1
Chunk 276
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 at cost, which includes development costs paid to the system developer and other directly
attributable costs of preparing the asset for its intended use.

Capitalization Criteria: Development costs are
capitalized when they meet the criteria for recognition as an intangible asset under ASC 350. Specifically, only costs incurred during
the application development stage are capitalized. Costs incurred to enhance or extend the performance of the asset beyond its original
specifications are also capitalized if they meet the recognition criteria. Maintenance costs or costs incurred during the preliminary
project stage are expensed as incurred.

Following initial recognition, the intangible asset
is carried at cost less accumulated amortization and any accumulated impairment losses. The asset is amortized on a straight-line basis
over its estimated useful life of 5 years, reflecting the period over which the Company expects to derive economic benefits from the
asset.

| F-68 |

As of December 31, 2023 and June 30, 2024, the balances
of the intangible asset are as follows:

|                                                  |     |     |                   As 
 of December 31, 2023 |   |     |            | As of June 30, 2024 |   |     |                 |         |   |
|:-------------------------------------------------|:----|:----|---------------------:|:--|:----|:-----------|--------------------:|:--|:----|:----------------|--------:|:--|
|                                                  |     | HK$ |                      |   |     | HK$        |                     |   |     | US$ (Note 2(e)) |         |   |
|                                                  |     |     |                      |   |     | -Unaudited |                     |   |     | -Unaudited      |         |   |
| Information technology service management system |     |     |            2,206,846 |   |     |            |           3,404,742 |   |     |                 | 436,505 |   |
|                                                  |     |     |            2,206,846 |   |     |            |           3,404,742 |   |     |                 | 436,505 |   |
| Less: Accumulated amortization                   |     |     |             (378,801 | ) |     |            |            (639,415 | ) |     |                 | (81,976 | ) |
| Intangible asset, net                            |     |     |