Company: BGHL
Filing Date: 2025-10-28
Form Type: F-1/A
Source: 0001213900-25-102958
Chunk: 57

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-10-28
Form: F-1/A
Chunk 57
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 strict control over our accounts receivable and review overdue accounts regularly. During the six months ended June30, 2025 and the years ended December31, 2024 and 2023, there was no allowance for credit losses or write -offrelated to our trade receivables. Our ability to secure adequate financing to sustain operations and execute growth initiatives is subject to material uncertainties. Future expansion beyond the scope supported by this Offering’s net proceeds may require additional external financing, including equity issuance or debt facilities. However, our access to such financing could be constrained by insufficient collateral to secure loans or unfavorable market conditions. There is no assurance that financing will be available on acceptable terms, or at all, when required. A failure to obtain necessary capital could impair operational scalability, limit strategic investments, and adversely affect business continuity and competitiveness. Our growth prospects may be limited if we fail to execute our expansion strategies amid evolving market dynamics. Our plans outlined in the “Growth Strategies” and “Use of Proceeds” sections assume continued demand for premium ingredients, successful geographic expansion into new markets (including Mainland China and international regions), diversification of procurement sources, and sustained effectiveness of sales and marketing initiatives. These assumptions are contingent on factors such as: (a) stable or growing discretionary spending in luxury hospitality and restaurants; (b) our ability to secure new consumer partnerships and penetrate untapped markets; (c) maintaining rigorous quality standards while broadening supplier networks; and (d) adapting to shifting consumer preferences and competitive pressures in high -endfood distribution. However, our strategies face inherent uncertainties, including supply chain disruptions in sourcing scarce ingredients, regulatory changes affecting cross -bordertrade, and intensified competition from established global distributors. For instance, efforts to diversify procurement could be delayed by challenges in qualifying new suppliers or negotiating favorable terms, while geographic expansion may encounter logistical complexities or cultural mismatches in product positioning. Additionally, the premiumization trend driving our growth is sensitive to macroeconomic downturns, which could reduce demand from luxury hospitality clients. If key assumptions underlying our plans prove inaccurate or external risks materialize, our ability to achieve targeted growth rates, scale operations, or maintain profitability may be materially impaired. Our operations face material risks from reliance on third-party food processors’ ability to maintain valid licenses required under Hong Kong regulations. We depend on contracted food processing facilities in Hong Kong to conduct critical services such as repackaging and labeling of premium perishable products. These facilities must hold active food factory licenses issued by the Food and Environmental Hygiene Department (“FEHD”)