Company: MEGL
Filing Date: 2025-06-27
Form Type: F-1/A
Source: 0001641172-25-016831
Chunk: 91

Company: Magic Empire Global Ltd
Filing Date: 2025-06-27
Form: F-1/A
Chunk 91
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,000.

We recorded nil income tax as we had no assessable profit during the year ended December 31, 2024 as interest income from bank and redemption of investments are non-taxable and we had available tax losses brought forward from prior year.

Net loss

As a result of the above, our net loss increased from HK$483,812 for the year ended December 31, 2023 to HK$4,729,852 (US$608,912) for the year ended December 31, 2024, primarily due to the increase in staff costs.

LIQUIDITY AND CAPITAL RESOURCES

The following table set forth our current assets and current liabilities as of the dates indicated:

|                             |     |              As 
 of December 31, |            |     |      |             |     |      |            |
|                             |     |            2023 |            |     | 2024 |             |     | 2024 |            |
|                             |     |             HK$ |            |     |  HK$ |             |     |  US$ |            |
| Current assets              |     |                 |            |     |      |             |     |      |            |
| Cash                        |     |                 | 92,407,813 |     |      | 127,511,687 |     |      | 16,415,630 |
| Accounts receivable         |     |                 |  2,302,436 |     |      |   1,794,218 |     |      |    230,984 |
| Interest receivables        |     |                 |    449,550 |     |      |     449,605 |     |      |     57,881 |
| Deposits and prepayments    |     |                 |  1,096,249 |     |      |     885,448 |     |      |    113,991 |
| Total                       
 current assets              |     |                 | 96,256,048 |     |      | 130,640,958 |     |      | 16,818,486 |
| Current liabilities         |     |                 |            |     |      |             |     |      |            |
| Accruals and other payables |     |                 |  1,079,000 |     |      |     693,234 |     |      |     89,246 |
| Contract liabilities