Company: BGHL
Filing Date: 2025-07-31
Form Type: DRS/A
Source: 0001213900-25-069626
Chunk: 177

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-07-31
Form: DRS/A
Chunk 177
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 or liabilities. Level 2 applies to assets or liabilities for which there are inputs, other than quoted prices in level, that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model -derivedvaluations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the asset or liability. The carrying value of financial instruments included in current assets and liabilities approximate their fair values because of the short -termnature of these instruments. (n)Business combination Business acquisitions are accounted for under the acquisition method. The acquisition method requires the reporting entity to identify the acquirer, determine the acquisition date, recognize and measure the identifiable assets acquired, the liabilities assumed and any non -controllinginterest in the acquired entity, and recognize and measure goodwill or a bargain gain from the purchase. The acquiree’s results are included in the Group’s consolidated financial statements from the date of acquisition. Assets acquired and liabilities assumed are recorded at their fair values on the date acquired and the excess of the purchase price over the amounts assigned is recorded as goodwill, or if the fair value of the net assets acquired exceeds the purchase price consideration, a bargain purchase gain is recorded. Adjustments to fair value assessment are generally recorded to goodwill over the measurement period (not longer than 12 months). The acquisition method also requires that acquisition -relatedtransaction and post -acquisitionrestructuring costs be charged to expense as committed, and requires the Group to recognize and measure certain assets and liabilities, including those arising from contingencies and contingent consideration in a business combination. (o)Transactions between entities under common control When accounting for a transfer of assets or exchange of shares between entities under common control of the Group, the carrying amounts of the assets and liabilities transferred shall remain unchanged subsequent to the transaction, and no gain or loss shall be recorded in the consolidated statements of comprehensive income. (p)Commitments and contingencies In the normal course of business, the Group is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover a wide range of matters, including, among others, government investigations, shareholder lawsuits, and non -incometax matters. An accrual for a loss contingency is recognized when it is