Company: CHOW
Filing Date: 2025-09-16
Form Type: 424B4
Source: 0001493152-25-013607
Chunk: 192

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-09-16
Form: 424B4
Chunk 192
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 the customer receives the specified solution, including resolving any issues with the delivery or functionality of the underlying services, hardware, software, and applications. This indicates that the Company is accountable for the overall performance of the arrangement.

3. Pricing Discretion:

The Company determines the pricing for the bundled solution, further supporting its role as principal.

Although the Company partners with cloud and technology service providers and outsources certain components to third-party providers, these third parties act as subcontractors or suppliers within the Company’s broader performance obligation. The Company does not merely arrange for the third parties to provide goods or services directly to the customer.

Based on the above, the Company concluded that it acts as the principal in these transactions because it controls the specified goods and services before transferring them to the customer.

| F-16 |

The following table sets forth a breakdown of our revenues, in absolute amounts and percentages of total revenues for the years ended December 31, 2023 and 2024:

|                                                                                      |     |                          For 
 the Years Ended December 31, |             |     |   |      |     |      |             |     |             |            |     |   |      |
|                                                                                      |     |                         2023 |             |     |   |      |     | 2024 |             |     |             |            |     |   |      |
|                                                                                      |     |                          HK$ |             |     | % |      |     |  HK$ |             |     | US$         
 (Note 2(e)) |            |     | % |      |
| Revenue                                                                              
 from Products:                                                                       |     |                              |             |     |   |      |     |      |             |     |             |            |     |   |      |
| Contracts                                                                            
 with Multiple Promises*:                                                             |     |                              |             |     |   |      |     |      |             |     |             |            |     |   |      |
| -                                                                                    
 Sale of Hardware with IT Professional Services                                       |     |                              |  58,250,642 |     |   | 41.2 |     |      |  70,398,140 |     |             |  9,025,403 |     |   | 38.7 |
| -                                                                                    
 Sale of Software and IT Application products with IT Professional Services           |     |                              |  52,958,769 |     |   | 37.5 |     |      |