Company: ILLRW
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001213900-25-006210
Chunk: 314

Company: Triller Group Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 314
---
 separately negotiated for each transaction and generally do not include rights of return, credits
or discounts, rebates, price protection or other similar privileges, and typically paid on or shortly after the transaction is completed.
Upon the purchase of an investment product, the Company earns a commission from customers, calculated as a fixed percentage of the investment
products acquired by its customers. The Company defines the “purchase of an investment product” for its revenue recognition
purpose as the time when the customers referred by the Company has entered into a subscription contract with the relevant product provider
and, if required, the customer has transferred a deposit to an escrow account designated by the Company to complete the purchase of the
investment products. After the contract is established, there are no significant judgments made when determining the one-time commission
price. Therefore, commissions are recorded at a point in time when the investment product is purchased.

The Company also facilitates the arrangement between
insurance providers and individuals or businesses by providing insurance placement services to the insureds, and is compensated in the
form of one-time commissions from the respective insurance providers. The Company primarily facilitates the placement of life, general
and MPF insurance products. The Company determines that insurance providers are the customers.

The Company primarily earns commission income
arising from the facilitation of the placement of an effective insurance policy, which is recognized at a point in time when the performance
obligation has been satisfied upon execution of the insurance policy as the Company has no future or ongoing obligation with respect to
such policies. The commission fee rate, which is paid by the insurance providers, based on the terms specified in the service contract
which are agreed between the Company and insurance providers for each insurance product being facilitated through the Company. The commission
earned is equal to a percentage of the premium paid to the insurance provider. Commission from renewed policies is variable consideration
and is recognized in subsequent periods when the uncertainty around variable consideration is subsequently resolved (e.g., when customer
renews the policy).

In accordance with ASC Topic 606, “Revenue Recognition: Principal Agent Considerations”, the Company evaluates the terms in the agreements with its channels and independent
contractors to determine whether or not the Company acts as the principal or as an agent in the arrangement with each party respectively.
The determination of whether to record the revenue in a gross or net basis depends upon whether the Company has control over the services
prior to transferring it. Control is demonstrated by the Company which is primarily responsible for fulfilling the provision of placement
services through the Company’s