Company: CHOW
Filing Date: 2025-04-01
Form Type: F-1
Source: 0001641172-25-001938
Chunk: 249

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-04-01
Form: F-1
Chunk 249
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 |    548,334 |     |   |  100 |

| F-54 |

The details of unbilled receivables (contract assets) are as follows:

|                                  |     |     | As of December 31, 2023 |     |   |      |     |     | As of June 30, 2024 |     |                 |            |     |   |      |
|:---------------------------------|:----|:----|------------------------:|:----|:--|-----:|:----|:----|--------------------:|:----|:----------------|-----------:|:----|:--|-----:|
|                                  |     | HK$ |                         |     | % |      |     | HK$ |                     |     | US$ (Note 2(e)) |            |     | % |      |
|                                  |     |     |                         |     |   |      |     |     |          -Unaudited |     |                 | -Unaudited |     |   |      |
| Maintenance and Support Services |     |     |               1,878,008 |     |   | 95.6 |     |     |              77,327 |     |                 |      9,914 |     |   |  6.1 |
| IT Professional Services         |     |     |                  76,948 |     |   |  3.9 |     |     |              19,686 |     |                 |      2,524 |     |   |  1.6 |
| Contracts with Multiple Promises |     |     |                   9,706 |     |   |  0.5 |     |     |           1,162,791 |     |                 |    149,075 |     |   | 92.3 |
|                                  |     |     |               1,964,662 |     |   |  100 |     |     |           1,259,804 |     |                 |    161,513 |     |   |  100 |

(o) Cost of revenues

Cost of revenues includes all direct costs associated with fulfilling the Company’s performance obligations for services and products. These costs primarily consist of:

| ● | Subcontracting fees,                                                                                                               
 which include amounts paid to third-party vendors and service providers for project-related services.                              |
| ● | Hardware costs,