Company: CHOW
Filing Date: 2025-09-02
Form Type: F-1/A
Source: 0001641172-25-026148
Chunk: 203

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-09-02
Form: F-1/A
Chunk 203
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$9,873,451 and HK$10,522,032 (US$1,348,978) were deposited with financial institutions located in Hong Kong, respectively.In accordance with the relevant regulations in Hong Kong, the maximum insured bank deposit amount is HK$800,000 (year ended December 31, 2023: HK$500,000) for each financial institution. The bank deposit amounts of the Company that are were not covered by the insurance were approximately HK$9,373,451 and HK$9,722,032 (US$1,246,414) as of the years ended December 31, 2023 and 2024 respectively. While the Company believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.

TheCompany is also exposed to risk from its accounts receivable, unbilled receivables, amounts due from related companies and other current assets. These assets are subject to credit evaluations. An allowance has been made for estimated unrecoverable amounts which have been determined by reference to past default experience and the current economic environment.

| F-24 |

(d) Concentration risk

There were three andtwo customers from whom revenues individually represent greater than 10% of the total revenues of theCompany for the fiscal years ended December 31, 2023 and 2024 , respectively. The total sales to these customers accounted for approximately62.2 % and28.5 % of total revenues for the fiscal years ended December 31, 2023 and 2024 , respectively. There were two and three customers individually represent greater than 10% of the total gross accounts receivable of the Company as of December 31, 2023 and 2024 respectively. The total receivables from these customers accounted for approximately31.5% and 56.3 % of the Company’s accounts receivable as of December 31, 2023 and 2024 respectively.

The following customers accounted for 10% or more of revenue for the years ended December 31, 2023 and 2024:

|                        |     | For                         
 the Year Ended December 31, |       2023 |     |   |      |     |     |       2024 |     |   |      |   |
|:-----------------------|:----|:----------------------------|-----------:|:----|:--|-----:|:----|:----|-----------:|:----|:--|-----:|:--