Company: BGHL
Filing Date: 2025-10-01
Form Type: F-1/A
Source: 0001213900-25-094318
Chunk: 102

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-10-01
Form: F-1/A
Chunk 102
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 offer lower price of food products in return. As a result, accounts payable was zero as at June 30, 2025. Accrued expenses and other current liabilities As at June 30, 2025, accrued expenses and other current liabilities were HK$1,706,179, representing an increase of HK$1,203,332 or 239.3%, as compared to HK$502,847 as of December 31, 2024. The significant increase was contributed by the increase in accrued staff costs and legal and professional fees. The Group used to engage with former related companies for management services which provided office space, human resources management, supplies of electricity and water, equipment usage and other office supplies under management fee contracts. However, starting from January 2025, the Group has employed certain new staffs. The Group no longer paid any management fee to the former related companies during the six months ended June 30, 2025. In addition, the management decided to proceed for IPO listing in the United States in 2025 which led to the increase in legal and professional fees incurred. Amounts due to shareholders As at June 30, 2025, amounts due to shareholders were HK$1,657,321. The advances from the shareholders were to provide additional funding for the Group to proceed for IPO application in the United States as well as to support its daily operations. There were no outstanding payables to the shareholders as at December 31, 2024. Amounts due to former related companies As at December 31, 2024, amounts due to former related companies were HK$24,467,821. The amounts due were fully settled during the six months ended June 30, 2025. There was no outstanding payable to former related companies as at June 30, 2025. Current tax liabilities The operating entity has been profit making for the six months ended June 30, 2025 and 2024 and is subject to income taxes in Hong Kong. As at June 30, 2025, current tax liabilities were HK$1,664,000, representing an increase of HK$689,000 or 70.7%, as compared to HK$975,000 as of December 31, 2024. The increase was solely caused by the income tax payable in relation to its assessable income for the six months ended June 30, 2025. There was no income tax paid during the six months ended June 30, 202