Company: MEGL
Filing Date: 2025-06-09
Form Type: F-1/A
Source: 0001641172-25-014301
Chunk: 178

Company: Magic Empire Global Ltd
Filing Date: 2025-06-09
Form: F-1/A
Chunk 178
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 contract terms. There is no contract asset that the Group has right to consideration in exchange for its CA services that the Group has transferred to its clients. Such right is not conditional on something other than the passage of time.

| 5. | Corporate                                                                                                                         
 services: The Company acts as a consultant to clients to advise them on the company secretarial and accountancy matter, in return 
 for advisory fee.                                                                                                                 |

The Group enters a distinct contract with its clients for the provision of corporate services. The Group concludes that each monthly corporate service (1) is distinct and (2) meets the criteria for recognizing revenue over time. In addition, the Group concludes that the services provided each month are substantially similar and result in the transfer of substantially similar services to the clients each month. That is, the benefit consumed by the clients is substantially similar for each month, even though the exact volume of services may vary. Therefore, the Group concludes that the monthly corporate services satisfy the requirements of ASC 606-10-25-14(b) to be accounted for as a single performance obligation. There is no variable consideration, significant financing components or noncash consideration in the contracts. Accordingly, based on the output methods, the Group recognizes revenues from corporate services on a monthly basis when it satisfies its performance obligations throughout the contract terms. There is no contract asset that the Group has right to consideration in exchange for its corporate services that the Group has transferred to its clients. Such right is not conditional on something other than the passage of time.

| F-17 |

<div align='center'>MAGIC EMPIRE GLOBAL LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

| 2. | SUMMARY                                    
 OF SIGNIFICANT ACCOUNTING POLICIES (cont.) |

Disaggregation of revenue from contracts with clients, in accordance with ASC Topic 606, by major service lines is as follows:

|                          |     | For the years ended 
        December 31, |            |     |      |            |     |      |           |
|                          |     |                2023 |            |     | 2024 |            |     | 2024 |           |
|                          |     |                 HK$ |            |     |  HK$ |            |     |  US$ |           |
| Revenue:                 |     |                     |            |     |      |            |     |      |           |
| IPO Sponsorship services |     |                     |  4,500,000 |