Company: CHOW
Filing Date: 2025-04-01
Form Type: F-1
Source: 0001641172-25-001938
Chunk: 267

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-04-01
Form: F-1
Chunk 267
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’s
contract assets totalled HK$1,964,662, all of which were transferred to accounts receivable during the six months ended June 30, 2024.
As of June 30, 2024, contract assets totalled HK$1,249,804 (US$161,513). The Company expects that this balance will be transferred to
accounts receivable during the year ending December 31, 2024, once the associated performance obligations are completed and billing milestones
are reached.

|                                             |     | As                   
 of December 31, 2023 |              |   |     | As of June 30, 2024 |             |   |     |                 |             |   |
|:--------------------------------------------|:----|:---------------------|-------------:|:--|:----|:--------------------|------------:|:--|:----|:----------------|------------:|:--|
|                                             |     | HK$                  |              |   |     | HK$                 |             |   |     | US$ (Note 2(e)) |             |   |
|                                             |     |                      |              |   |     | -Unaudited          |             |   |     | -Unaudited      |             |   |
| Deferred revenue (Contract liabilities):    |     |                      |              |   |     |                     |             |   |     |                 |             |   |
| Balance at beginning of the year / period   |     |                      |    7,790,830 |   |     |                     |  18,585,792 |   |     |                 |   2,382,794 |   |
| Additions                                   |     |                      |  150,177,340 |   |     |                     |  82,766,958 |   |     |                 |  10,611,148 |   |
| Revenue recognized during the year / period |     |                      | (139,382,378 | ) |     |                     | (97,075,745 | ) |     |                 | (12,445,608 | ) |
| Balance at end of year / period             |     |                      |   18,585,792 |   |     |                     |   4,277,005 |   |     |                 |     548,334 |   |

|                                                              |     |     | As of December 31, 2023 |