Company: CHOW
Filing Date: 2025-02-28
Form Type: DRS/A
Source: 0001493152-25-008591
Chunk: 100

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-02-28
Form: DRS/A
Chunk 100
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4.

Income tax expenses

Income tax expenses was HK$ 1.2million (US$ 0.2million) for the six months ended June 30, 2024, as compared to HK$ 1.1million for the same period of 2023. The increase in income tax expenses by HK$0.1 million or 10.9%
was due to the increase in gross profit during six months ended June 30, 2024.

Net income

As a result of the above discussed, we recorded a net income of HK$6.9 million (US$ 0.9million) for the six months ended June 30, 2024, representing an increase of HK$ 0.4million or 6.8% from a net income of HK$6.5 million for the six months ended June 30, 2023.

Years ended December 31, 2022 and 2023

Results of Operations

The following table sets forth a summary of our consolidated results of operations for the years indicated, both in absolute amount.

|                                                          |     | Year ended December 31, |        2022 |   |     |     |         2023 |   |     |     |             |   |     |     |    Variance |   |     |          |       |   |
|:---------------------------------------------------------|:----|:------------------------|------------:|:--|:----|:----|-------------:|:--|:----|:----|------------:|:--|:----|:----|------------:|:--|:----|:---------|------:|:--|
|                                                          |     | HK$                     |             |   |     | HK$ |              |   |     | US$ |             |   |     | HK$ |             |   |     | % Change |       |   |
| Revenues                                                 |     |                         | 107,628,218 |   |     |     |  141,372,358 |   |     |     |  18,124,661 |   |     |     |  33,744,140 |   |     |          |  31.4 |   |
| Cost of revenues                                         |     |                         | (97,227,521 | ) |     |     | (121,462,858 | ) |     |     | (15,572,161 | ) |