Company: MEGL
Filing Date: 2025-07-11
Form Type: F-1/A
Source: 0001641172-25-018709
Chunk: 198

Company: Magic Empire Global Ltd
Filing Date: 2025-07-11
Form: F-1/A
Chunk 198
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 |      |  1,246,723 |   |     |      |  160,501 |   |
| Others                       |     |      |        — |   |     |      |          — |   |     |      |        — |   |
| Deferred                     
 tax assets                   |     |      |  750,087 |   |     |      |  1,246,723 |   |     |      |  160,501 |   |
| Less:                        
 Valuation allowance          |     |      | (750,087 | ) |     |      | (1,246,723 | ) |     |      | (160,501 | ) |
| Total                        
 deferred tax assets, net     |     |      |        — |   |     |      |          — |   |     |      |        — |   |

The Group evaluated the recoverable amounts of deferred tax assets to the extent that future taxable profits will be available against which the net operating loss and temporary difference can be utilized. As of December 31, 2024, the Group had tax loss carryforwards of approximately HK$7,555,895 (US$972,733). The carry forward of tax losses in Hong Kong generally has no time limit. As of December 31, 2024, the deferred tax assets were fully provided by a valuation allowance of HK$1,246,723 (US$160,501) as the Group does not expect to realize its deferred taxes in the near future.

As of December 31, 2024 and 2023, the Group had no tax recoverable and no taxes payables.

| F-25 |

<div align='center'>MAGIC EMPIRE GLOBAL LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

11. OTHER INCOME

|                            |     |             For 
 the years ended 
    December 31, |         |     |      |           |     |      |         |
|                            |     |            2023 |         |     | 2024 |           |     | 2024 |         |
|                            |     |             HK$ |         |     |  HK$ |           |     |  US$ |         |
| Gain on sale of investment |     |                 |       — |     |      | 1,105,998 |     |      | 142,384 |
| Sundry income              |     |