Company: CHOW
Filing Date: 2025-04-01
Form Type: F-1
Source: 0001641172-25-001938
Chunk: 283

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-04-01
Form: F-1
Chunk 283
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 the balances of bank
borrowings as of December 31, 2023 and June 30, 2024:

|                                      |     | As                   
 of December 31, 2023 |   |     | As of June 30, 2024 |           |     |                 |         |
|:-------------------------------------|:----|:---------------------|:--|:----|:--------------------|----------:|:----|:----------------|--------:|
|                                      |     | HK$                  |   |     | HK$                 |           |     | US$ (Note 2(e)) |         |
|                                      |     |                      |   |     | -Unaudited          |           |     | -Unaudited      |         |
| Bank borrowings, current portion     |     |                      | - |     |                     |    38,934 |     |                 |   4,992 |
| Bank borrowings, non-current portion |     |                      | - |     |                     | 4,961,066 |     |                 | 636,034 |
|                                      |     |                      | - |     |                     | 5,000,000 |     |                 | 641,026 |

On May 27, 2024, Sereno secured an instalment bank
loan of HK$5,000,000 (US$641,026) under the SME Financing Guarantee Scheme with a 100% guarantee provided by HKMC Insurance Limited.
The loan is backed by an unlimited personal guarantee from the Company’s shareholders. The loan carries an annual interest rate
of 3.625% and is scheduled to be repaid over 120 monthly instalments, starting from June 26, 2024, and continuing through May 26, 2034.

Interest related to the bank borrowings was HK$ Nil
and HK$14,857 (US$1,905) for the period ended June 30, 2023, and 2024 respectively.

As of June 30, 2024, the borrowing will be due according
to the following schedule:

|                       |     | As         
 of         
 June       
 30, 2024   |           |
|:----------------------|:----|:-----------|----------:|
|                       |     | HK$        |           |
|                       |     | -Unaudited |           |
| Within 1 Year         |     |            |    38,934 |