Company: BGHL
Filing Date: 2025-08-29
Form Type: F-1
Source: 0001213900-25-082403
Chunk: 180

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-08-29
Form: F-1
Chunk 180
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 accounts receivable. Overdue accounts receivable is reviewed regularly by the Board of Directors. There was no allowance for credit losses or write -offduring the years ended December 31, 2024 and 2023. As of the date of this report, all accounts receivable as of December 31, 2024 has been collected.

F-12

BILLION GROUP HOLDINGS LIMITED
NOTES TO THE COMBINED FINANCIAL STATEMENTS 5. ACCOUNTS RECEIVABLE, NET(cont.) A concentration analysis of accounts receivable is as follows:

|            |     |        As at 
 December 31, 
         2024 |   |     |        As at 
 December 31, 
         2023 |   |
|:-----------|:----|-------------:|:--|:----|-------------:|:--|
| Customer A |     |           20 | % |     |           23 | % |
| Customer B |     |            0 | % |     |           12 | % |
| Customer C |     |           11 | % |     |            0 | % |
| Customer D |     |           10 | % |     |            0 | % |
| Customer E |     |           22 | % |     |            0 | % |
| Customer F |     |           18 | % |     |           11 | % |
| Customer G |     |            3 | % |     |           10 | % |
| Customer H |     |            2 | % |     |           14 | % |

6. OTHER CURRENT ASSETS

|                               |     |        As at 
 December 31, 
         2024 |     |        As at 
 December 31, 
         2024 |     | As at        
 December 31, 
 2023         |
|:------------------------------|:----|-------------:|:----|-------------:|:----|:-------------|
|                               |     |          US$ |     |          HK$ |     | HK$          |
| Advance payment to a supplier |     |       22,315 |     |      174,057 |     | —            |

The advance payment resulted from overpaid payable for purchases of goods during the year ended December 31, 2024. The balance was fully utilized by netting off trade payable to the supplier in early 2025. 7.