Company: CHOW
Filing Date: 2025-01-13
Form Type: DRS/A
Source: 0001493152-25-001833
Chunk: 188

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-01-13
Form: DRS/A
Chunk 188
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 maintains its operations under a strong governance framework, ensuring compliance with the relevant legal, regulatory, and contractual obligations across all markets served.

AI-Powered Proactive Cloud Managed Services:Solutions designed to monitor, manage, and optimize clients’ cloud environments using artificial intelligence for improved efficiency and reduced downtime.

IT Infrastructure Solutions:Design, implementation, and management of scalable IT infrastructure, including hardware, software, and cloud environments tailored to clients’ specific needs.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and in conformity with the requirements of the Securities Exchange Commission (“SEC”). Additionally, these consolidated financial statements have been audited in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”).

(b) Principles of consolidation

The consolidated financial statements include the accounts of the Company and its subsidiary. All intercompany balances and transactions have been eliminated in consolidation.

(c) Use of estimates

The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses, as well as the disclosure of contingent assets and liabilities at the date of the consolidated financial statements. These estimates and assumptions are evaluated regularly based on historical experience, current conditions, and reasonable and supportable forecasts of future economic conditions.

Significant accounting estimatesreflected in the Company’s consolidated financial statements include, but are not limited to:

| ● | Incremental                                                                                       
 borrowing rate used in the recognition of right-of-use assets and lease liabilities under         
 ASC 842 (Leases), which is determined based on the Company’s cost of borrowing,                   
 adjusted for the specific term and the economic environment.                                      |
| ● | Allowance                                                                                         
 for expected credit losses on accounts receivable under ASC 326 (Credit Losses),                  
 which is determined based on historical collection experience, the creditworthiness of individual 
 customers, and expected changes in macroeconomic conditions.                                      |
| ● | Useful                                                                                            
 lives of property and equipment, which are determined based on the Company’s experience           
 with similar assets and expected usage patterns.                                                  |
| ● | Valuation                                                                                         
 allowance for deferred tax assets under ASC 740 (Income Taxes), which is based                    
 on management’s assessment of the likelihood of future taxable income and the ability             
 to utilize deferred tax assets before expiration.                                                 |
| ●