Company: CHOW
Filing Date: 2025-02-28
Form Type: DRS/A
Source: 0001493152-25-008591
Chunk: 17

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-02-28
Form: DRS/A
Chunk 17
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 the laws of Cayman Islands to provide funding to our subsidiary in Hong Kong through loans or capital contributions without restrictions on the amount of the funds. There are no restrictions or limitation on CCCI’s ability to distribute earnings from its businesses, including subsidiaries, to the U.S. investors. Our equity structure is a direct holding structure, that is, the overseas entity to be listed in the U.S., CCCI, directly controls Vigorous Elite Holdings Limited, a holding company incorporated in the British Virgin Islands (“BVI”), which holds 100% of shares of SCS, our Hong Kong operating entity. Cash is transferred through our organization in the following manner: (i) funds may be transferred from CCCI, the holding company incorporated in the Cayman Islands to SCS through Vigorous Elite Holdings Limited in the form of capital contributions or shareholder loans, as the case may be; and (ii) dividends or other distributions may be paid by SCS to CCCI through Vigorous Elite Holdings Limited. SCS is permitted under the laws of Hong Kong to provide funding to CCCI through dividend distribution without restrictions on the amount of the funds or restrictions on foreign exchange. If CCCI intends to distribute dividends to its shareholders, it will depend on payment of dividends from SCS to Vigorous Elite Holdings Limited in accordance with the laws and regulations of Hong Kong, and Vigorous Elite Holdings Limited will transfer the dividends to CCCI, and the dividends will be distributed by the CCCI to all shareholders respectively in proportion to the shares they hold, regardless of whether the shareholders are U.S. investors or investors in other countries or regions. If SCS incurs debt on its own in the future, the instruments governing such debt may restrict SCS’s ability to pay dividends, make distribution or transfer funds to CCCI. On December 31, 2023, SCS declared a dividend of HKD17.5 million (US$2.2 million) to its individual shareholders before the reorganization, of which HKD8.5 million (US$1.1 million) and HKD14.0 million (US$1.8 million) were paid as of December 31, 2023 and June 30, 2024, respectively. However, SCS has not declared any dividend to CCCI through Vigorous Elite, and CCCI has not declared any dividend to its shareholders, after the reorganization and up to the date of this prospectus. As of the date of this prospectus, we do not have any