Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 148

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 19
Chunk 148
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,647,738 2,014,462

In
June 2023, the Group made an investment of HK$ 1,963,000 253,000

The
Company has performed the investment analysis, the equity investment is determined as equity investment without a readily determinable
fair value (as defined under ASC 321-10-35), therefore the equity investment shall measure at cost less impairment, if any, adjusted
plus or minus changes resulting from observable price changes for an identical or similar investment of the same issuer. As of December
31, 2023, the total cost, net of provision, of long-term investment is HK$ 38,647,738 4,975,442

During
the year ended December 31, 2023, the Group recorded loss due to mark-to-market of a derivative asset of HK$ 1,963,000 252,713

During the year ended December 31, 2024, the Group has new investment of
HK$ 8,500,000 1,094,275 48,253,736 6,212,101 1,105,998 142,384

MAGIC
EMPIRE GLOBAL LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

7. ACCRUALS AND OTHER PAYABLES

Accruals
and other payables consist of the following:

SCHEDULE
OF ACCRUALS AND OTHER PAYABLES

                        As                                                                           
                        of December 31,                                                              
                        2023                                2024                   2024              
                        HK$                                 HK$                    US$               
 ─────────────────────────────────────────────────────────────────────────────────────────────────────
  Accrued                                      892,000                670,113                86,269  
  Other                                        187,000                 23,121                 2,977  
  Total                                      1,079,000                693,234                89,246  

8. RELATED PARTY TRANSACTIONS AND BALANCES

As of December 31, 2022, the Group has balances due from related parties
of HK$ 96,700

In
March 2023, the related parties repaid all the outstanding balances of HK$ 96,700

As
of December 31, 2024 and 2023, the balance with related parties was nil.

9. CONTRACT LIABILITIES

The
Group’s contract liabilities include