Company: CLIK
Filing Date: 2025-02-19
Form Type: 20-F
Source: 0001213900-25-015041
Chunk: 7

Company: Click Holdings Ltd.
Filing Date: 2025-02-19
Form: 20-F
Item: Item 5
Chunk 7
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. Selling and marketing expenses are mainly advertising expense for online marketing campaigns. The increase in selling and marketing expenses by approximately $1,520 or 13.0% was mainly attributable to more online marketing advertisements placed in 6M2024.
 
4

 

Other (expense) income
 
Government subsidies
 
Our government subsidies mainly were subsidiaries received from Hong Kong government as relief measures against COVID-19 in 6M2023. The government subsidies decreased from $8,536 in 6M2023 to nil in 6M2024.
 
Net interest expenses
 
Our finance expense mainly comprised interest expense on bank loans. The interest expense increased by $2,811, or 21.8%, from $12,891 in 6M2023 to $15,702 in 6M2024, and such increase was in line with the increase in interest rate, which is determined by Hong Kong Interbank Offer Rate (“HIBOR”).
 
Total other expense, net
 
Other expense, net increased by approximately 169.2% from $4,355 in 6M2023 to $11,725 in 6M2024, which was mainly due to the increase in interest expense on bank loans.
 
Income tax expense
 
We are subject to income tax on an entity basis on profit arising in or derived from the jurisdiction in which our Company and its subsidiaries domicile or operate. Some of our subsidiaries are companies incorporated in the BVI. Under the current law of the British Virgin Islands, we are not subject to income, corporation or capital gains tax in the BVI. In addition, payment of dividends by the BVI subsidiaries to their respective shareholders who are not resident in the BVI, if any, is not subject to withholding tax in the BVI.
 
Income tax expense is comprised mainly of Hong Kong income tax. Income tax expense was $50,415 and $18,055 for each of 6M2024 and 6M2023, respectively. The increase was mainly due to the increase in net income before provision for income taxes. The income before provision of income tax in 6M2023 was partly absorbed by the tax loss carried forwards from the year ended 31 December 2022, thus less income tax expense was provided in 6M2023.
 
Net income
 
We recorded net income of approximately $0.5 million in 6M2024, compared to approximately $0.4 million in 6M2023. Such increase was attributable to