Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 75

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 5
Chunk 75
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 the contractual obligations of the Company as of December 31, 2024:

                              Payments                                                                                             
                              Less                              1                              3               More         Total  
                              HK$                               HK$                            HK$             HK$          HK$    
  Contractual                                                                                                                      
  Operating                                      1,411,265                      3,227,400                                          
  Total                                          1,411,265                      3,227,400                                          

  50  

                              Payments                                                                                         
                              Less                            1                            3               More         Total  
                              US$                             US$                          US$             US$          US$    
  Contractual                                                                                                                  
  Operating                                      181,684                      415,490                                          
  Total                                          181,684                      415,490                                          

As
of December 31, 2024, we did not have any capital expenditure commitment.

Off-balance
sheet arrangements

The
Company has no off-balance sheet arrangements, including arrangements that would affect its liquidity, capital resources, market risk
support, and credit risk support or other benefits.

C.
Research and development, patents and licenses

See
ITEM 4. B “business overviews” above for our licenses.

D.
Trend information

See
ITEM 5. A “operating results” above for our trend information.

E.
Critical Accounting Estimates

We
prepare our consolidated financial statements in accordance with U. S. GAAP, which requires us to make judgments, estimates and assumptions
that affect (i) the reported amounts of our assets and liabilities; (ii) the disclosure of our contingent assets and liabilities at the
end of each reporting period; and (iii) the reported amounts of revenues and expenses during each reporting period. We continually evaluate
these judgments, estimates and assumptions based on our own historical experience, knowledge and assessment of current business and other
conditions and our expectations regarding the future based on available information, which together form our basis for making judgments
about matters that are not readily apparent from other sources. Since the use of estimates is an integral component of the financial
reporting process, our actual results could differ from those estimates. Some of our accounting policies require a higher degree of judgment
than others in their application.

When
reading our consolidated financial statements, you should consider our selection of critical accounting policies, the judgment and other
uncertainties affecting the application of such policies and the sensitivity of reported results to changes in conditions and assumptions.
Our critical accounting policies and practices