Company: CHOW
Filing Date: 2025-04-01
Form Type: F-1
Source: 0001641172-25-001938
Chunk: 85

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-04-01
Form: F-1
Chunk 85
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, which may include packaged software, customized setup implementation, or integrated hardware and software platforms, at the point in time when control of the software is transferred to the customer.

The software or IT application license constitutes a “right to use” intellectual property (IP), as defined in ASC 606-10-55-54, because it provides the customer with control over the software from the point of delivery or activation.

A right-to-use license grants the customer a license to the software as it exists at the time the license is granted, with no significant ongoing updates or support that would make it a “right to access” license.

As such, revenue for the license is recognized at a point in time when control is transferred, typically upon delivery or activation of the software, in accordance with ASC 606.

| 53 |

Maintenance and Support Services

Maintenance and support services related to software products typically consist of unspecified future updates and upgrades, as well as technical support provided over a period of one to 12 months. These services represent stand-alone performance obligations, and we recognize revenue rateably over the service period. Revenue for maintenance and support is deferred and recognized over time as we satisfy our obligation to provide updates and technical support.

IT Professional Services

IT
professional services related to IT system setup, development, customization or integration services. These services represent stand-alone
performance obligations, and revenue is recognized upon the completion of the services, when the customer gains the ability to use the
system and benefit from the services provided by us.

Revenue from IT professional services is recognized at a point in time upon the completion of services. This determination is based on the following considerations under ASC 606-10-25-27:

| (i)   | Simultaneous                                                                                                                           
 Receipt and Consumption: The customer does not simultaneously receive and consume the benefits of the IT professional services         
 as they are performed. The services are delivered as a complete solution, and the customer derives value only upon full completion.    |
| (ii)  | Creation                                                                                                                               
 or Enhancement of Customer-Controlled Asset: The services provided do not create or enhance an asset that the customer                 
 controls as the services are performed. The customer does not gain control until the services are completed.                           |
| (iii) | No                                                                                                                                     
 Alternative Use and Enforceable Right to Payment: While the deliverables                                                               
 are tailored to customer-specific requirements, they do not meet the “no alternative                                                   
 use” criterion because, in practice, the Company can reconfigure partially completed