Company: CHOW
Filing Date: 2025-05-29
Form Type: F-1/A
Source: 0001641172-25-012773
Chunk: 184

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-05-29
Form: F-1/A
Chunk 184
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 which the carrying amount exceeds the fair value of the asset group.

Fair value is typically determined by discounting the expected future cash flows to present value using a rate commensurate with the risk associated with the asset group. When market prices are not readily available, the Company may also consider appraisals or other market-based valuation techniques.

The carrying amount of long-lived assets includes any accumulated depreciation and amortization. Impairment losses are recognized in the period in which the impairment occurs and are recorded as part of operating expenses. For the years ended December 31, 2023, and 2024, the Company did not recognize any impairment of its long-lived assets.

(m) Revenue recognition

The Company’s revenues are primarily generated from (1) Sale of Hardware Product, (2) Sale of Software and IT Application Products, (3) Maintenance and Support Services, (4) IT Professional Services, and (5) Contracts with Multiple Promises.

The Company accounts for its revenue under ASC Topic 606, Revenue from Contracts with Customers. Revenue is recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. To achieve this core principle, the Company applies the following five steps:

| 1. | Identification                                                                                  
 of the contract(s) with the customer;                                                           |
| 2. | Identification                                                                                  
 of the performance obligations in the contract;                                                 |
| 3. | Determination                                                                                   
 of the transaction price, including any variable consideration;                                 |
| 4. | Allocation                                                                                      
 of the transaction price to the performance obligations in the contract based on their relative 
 standalone selling prices; and                                                                  |
| 5. | Recognition                                                                                     
 of revenue when, or as, the Company satisfies a performance obligation.                         |

Sale of Hardware Products

Revenue from the sale of hardware products is recognized at the point in time when control of the hardware is transferred to the customer. This typically occurs upon delivery and acceptance of the hardware, when the customer gains the ability to use and benefit from the hardware.

Sale of Software and IT Application Products

Revenue from the sale of software and IT application products, which may include packaged software, customized setup implementation, or integrated hardware and software platforms, is recognized at the point in time when control of the software is transferred to the customer.

| F-12 |

The software or IT application license constitutes a “right to use” intellectual property (IP), as defined in ASC