Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 151

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 151
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4 million in 2023, primarily
due to the increase in the unit room rate and occupancy rate of our hotels.

Our segment revenue from the
strategic investment segment increased from US$20.4 million in 2022 to US$22.7 million in 2023, primarily due to (i) the
increase in realized gain to the disposed investment from US$1.0 million in 2022 to US$50.5 million in 2023 resulting from the
realized gain in derivative contracts of upside participation and profit distribution agreements and future settlement contract (as described
in details in note 17 of TGE’s consolidated financial statements included herein), which contracts were terminated in 2023
and (ii) the increase in dividend income from US$6.4 million in 2022 to US$9.9 million in 2023. The increase was partially
offset by the unrealized loss on our investments in the listed shares of Bank of Qingdao and Guangzhou Rural Commercial Bank and derivative
financial instruments of US$37.8 million in year 2023, while an unrealized gain of US$13.0 million was recognized in 2022, due
to fluctuation in the stock market affecting the fair value of these listed shares.

Cost of production
and cost of hotel operation

Our cost of production and
cost of hotel operation increased from US$3.2 million in 2022 to US$5.9 million in 2023.

Our cost of production increased
from US$1.5 million in 2022 to US$3.8 million in 2023, mainly due to the additional cost incurred as a result of the expansion
of L’Officiel into various jurisdictions such as Singapore and Malaysia since 2023 and our acquisition of The Art Newspaper in October 2023.

Our cost of hotel operation
increased from US$1.7 million in 2022 to US$2.1 million in 2023, mainly due to the additional costs incurred to maintain the
operation of services resulting from the increase in occupancy rate of our hotels.

Other income

Our other income marginally
increased from US$0.5 million in 2022 to US$1.2 million in 2023.

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Gain from a bargain
purchase

Our gain from a bargain purchase
decreased from US$4.8 million in 2022 to US$4.