Company: CHOW
Filing Date: 2025-03-19
Form Type: DRS/A
Source: 0001493152-25-010898
Chunk: 221

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-03-19
Form: DRS/A
Chunk 221
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 type of service provided and the method of measuring progress, such as output methods (e.g., deliverables completed).

Revenue to be Recognized in Future Periods

As of December 31, 2023, the Company expects to recognize most of its contract liabilities as revenue during the year ending December 31, 2024, as performance obligations are fulfilled. However, the actual timing of revenue recognition may be impacted by factors such as changes in customer requirements, delays in project execution, or other uncertainties. The Company regularly assesses its contract liabilities and adjusts revenue recognition estimates as necessary.

6. PREPAYMENT AND OTHER CURRENT ASSETS, NET AND OTHER NON-CURRENT ASSETS, NET

Prepayment and other current assets, net consisted of the following as of December 31, 2022 and 2023:

|                                          |     | As of December 31, |         |     |      |            |     |           |           |
|                                          |     |               2022 |         |     | 2023 |            |     |           |           |
|                                          |     |                HK$ |         |     |  HK$ |            |     | US$ (Note 
 2(e))     |           |
| Prepayment and other current assets, net |     |                    |         |     |      |            |     |           |           |
| Advances to suppliers (i)                |     |                    |  22,701 |     |      | 11,593,320 |     |           | 1,486,323 |
| Rental deposits (ii)                     |     |                    | 121,503 |     |      |          - |     |           |         - |
| Other deposit                            |     |                    |   3,850 |     |      |      3,850 |     |           |       494 |
|                                          |     |                    | 148,054 |     |      | 11,597,170 |     |           | 1,486,817 |

Other non-current assets, net consisted of the following as of December 31, 2022, and December 31, 2023:

|                               |     | As of December 31, |   |     |      |         |     |           |        |
|                               |     |               2022 |   |     | 2023 |         |     |           |        |
|                               |     |                HK$ |   |