Company: CHOW
Filing Date: 2025-04-01
Form Type: F-1
Source: 0001641172-25-001938
Chunk: 257

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-04-01
Form: F-1
Chunk 257
---
 |   |  100 |     |      | 98,293,397 |     |             | 12,601,718 |     |   |  100 |

(x) Recent accounting pronouncements

ASC 326 (Credit Losses): In May 2019, the Financial
Accounting Standards Board (“FASB”) issued ASU 2019-05 as an update to ASU 2016-13, Financial Instruments — Credit
Losses (Topic 326). ASU 2016-13 introduced the expected credit losses methodology for measuring credit losses on financial assets measured
at amortized cost, replacing the incurred loss model. This update also modified the accounting for available-for-sale debt securities,
requiring individual assessment of credit losses when the fair value is less than the amortized cost. The Company irrevocably elected
the fair value option for certain financial assets to align with the transition relief provided by ASU 2019-05. The Company adopted this
standard effective April 1, 2022, for annual and interim reporting periods beginning January 1, 2023, in line with the delayed effective
date for non-public entities as provided by ASU 2019-10. The adoption of this standard did not have a material impact on the Company’s
unaudited condensed consolidated financial statements.

ASC 280 (Segment Reporting): In November 2023, FASB
issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The amended guidance
requires incremental reportable segment disclosures, primarily about significant segment expenses. The amendments also require entities
with a single reportable segment to provide all disclosures required by these amendments, and all existing segment disclosures. The amendments
will be applied retrospectively to all prior periods presented in the unaudited condensed consolidated financial statements and
is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024,
with early adoption permitted. The Company is currently in the process of evaluating the impact this amended guidance may have on the
footnotes to its unaudited condensed consolidated financial statements

ASC 740 (Income Taxes): In December 2023, FASB issued
ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This update requires additional quantitative
and qualitative disclosures about income taxes to provide financial statement