Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 159

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 159
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           | 102,622 |
| Amount due to subsidiaries’ non-controlling shareholders |     |                                   |  63,019 |     |                       | 63,019 |     |           |       — |
| Lease liabilities                                        |     |                                   |     520 |     |                       |    253 |     |           |     267 |
| Total                                                    |     |                                   | 385,770 |     |                       | 63,448 |     |           | 322,322 |

Other than as shown above,
we did not have any other significant capital and other commitments, long-term obligations or guarantees as of December 31, 2024.

To provide additional consideration
to Black Spade II Public Shareholders, The Generation Essentials Group will make a cash payment equal to $1.25 multiplied by the
number of BSII Class A Ordinary Shares held by eligible Black Spade II Public Shareholders on the Closing Date immediately before
the Merger Effective Time (the “Non-Redemption Payment Amount”). This additional cash payment will be made no earlier than
60 days and no later than 90 days after the Closing Date. The aggregate Non-Redemption Payment Amount that we currently expect to pay
to eligible Black Spade II Public Shareholders is US$1.7 million.

Off-Balance Sheet Commitments
and Arrangements

We have not entered into any
financial guarantees or other commitments to guarantee the payment obligations of any third parties. In addition, we have not entered
into any derivative contracts that are indexed to our shares and classified as shareholders’ equity or that are not reflected in
our combined financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an unconsolidated
entity that serves as credit, liquidity or market risk support to such entity. We do not have any variable interest in any unconsolidated
entity that provides financing, liquidity, market risk or credit support to us or engages in leasing, hedging or product development services
with us.

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Critical Accounting Estimates

Impairment assessment
of intangible assets

Determining whether intangible
assets are impaired requires an estimation of the recoverable amount of the cash-generating unit to which intangible assets have been
allocated, which is the higher of the value in use or fair value less costs of disposal. The value in use calculation requires us to estimate
the future cash flows from the cash-generating unit and a suitable