Company: BGHL
Filing Date: 2025-09-11
Form Type: F-1/A
Source: 0001213900-25-086807
Chunk: 184

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-09-11
Form: F-1/A
Chunk 184
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 liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model -derivedvaluations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the asset or liability. The carrying value of financial instruments included in current assets and liabilities approximate their fair values because of the short -termnature of these instruments. F-10

BILLION GROUP HOLDINGS LIMITED
NOTES TO THE COMBINED FINANCIAL STATEMENTS 1. SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (cont.) (n)Commitments and contingencies In the normal course of business, the Group is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover a wide range of matters, including, among others, government investigations, shareholder lawsuits, and non -incometax matters. An accrual for a loss contingency is recognized when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. If a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, is disclosed. As at December 31, 2024 and 2023, the Group had no such potential material loss contingency. (o)Recently issued accounting pronouncements In November 2023, the FASB issued ASU No. 2023 -07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the CODM and included within each reported measure of a segment’s profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The Group adopted this guidance for the year beginning January 1, 2024 and the adoption of this standard does not have a material impact on the combined financial statements. In December 2023, the FASB issued ASU No. 2023 -09, Improvements to