Company: CHOW
Filing Date: 2025-01-13
Form Type: DRS/A
Source: 0001493152-25-001833
Chunk: 76

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-01-13
Form: DRS/A
Chunk 76
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 underwriting discounts and commissions and estimated offering expenses payable by us.                                                |

| 45 |

<div align='center'>Dilution</div>

If you invest in our Ordinary Shares, your interest will be diluted to the extent of the difference between the initial public offering price per Ordinary Share and our net tangible book value per Ordinary Share after this offering. Dilution results from the fact that the initial public offering price per Ordinary Share is substantially in excess of the book value per Ordinary Share attributable to the existing shareholders for our presently outstanding Ordinary Share.

Our net tangible book value as of December 31, 2023 was US$256,622, or US$0.0079 per Ordinary Share as of that date. Net tangible book value represents the amount of our total consolidated tangible assets, less the amount of our total consolidated liabilities. Dilution is determined by subtracting net tangible book value per Ordinary Share, after giving effect to the additional proceeds we will receive from this offering, from the assumed initial public offering price of US$[ ] per Ordinary Share, which is the mid-point of the estimated initial public offering price range set forth on the cover page of this prospectus, and after deducting underwriting discounts and commissions and estimated offering expenses payable by us.

Without taking into account any other changes in net tangible book value after December 31, 2023, other than to give effect to our sale of the Ordinary Shares offered in this offering at the assumed initial public offering price of US$[ ] per Ordinary Share, the mid-point of the estimated range of the initial public offering price, after deduction of the underwriting discounts and commissions and estimated offering expenses payable by us, our pro forma as adjusted net tangible book value as of December 31, 2023 would have been US$[ ] or US$[ ] per Ordinary Share. This represents an immediate increase in net tangible book value of US$[ ] per Ordinary Share to the existing shareholders and an immediate dilution in net tangible book value of US$[ ] per Ordinary Share to investors purchasing Ordinary Shares in this offering. The following table illustrates such dilution:

| Assumed initial public offering price                                              
 Net tangible book value as of December                                             
 31, 2023                                                                           |     | Per Ordinary Share 
 US$                
 US$                | [    ]     
 [       ]  |
|:-----------------------------------------------------------------------------------|:----|:-------------------|:-----------|
| Pro forma as adjusted net tangible book value after giving effect to this offering |     | US