Company: CHOW
Filing Date: 2025-02-28
Form Type: DRS/A
Source: 0001493152-25-008591
Chunk: 279

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-02-28
Form: DRS/A
Chunk 279
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 cash flows, an impairment loss is recognized for the difference between the carrying
amount and the fair value of the asset. For the six months ended June 30, 2023, and 2024, no impairment indicators were identified, and
no impairment losses were recognized.

11. ACCOUNTS PAYABLE

The following table presents the balances of accounts
payable as of December 31, 2023 and June 30, 2024:

|                  |     |     |                   As 
 of December 31, 2023 |     |            | As of June 30, 2024 |     |                 |         |
|:-----------------|:----|:----|---------------------:|:----|:-----------|--------------------:|:----|:----------------|--------:|
|                  |     | HK$ |                      |     | HK$        |                     |     | US$ (Note 2(e)) |         |
|                  |     |     |                      |     | -Unaudited |                     |     | -Unaudited      |         |
| Accounts payable |     |     |            7,079,837 |     |            |           3,456,847 |     |                 | 443,185 |

Accounts payable represent amounts due to suppliers
for subcontracting fees, hardware costs, software license costs, and IT application license costs.

Payment Terms

The Company’s accounts payable are current
liabilities, typically due within 30 to 90 days of the invoice date, depending on the terms negotiated with each supplier. The Company’s
payment practices aim to align with standard industry terms and cash flow management practices.

Liquidity and Risk Management

The Company regularly assesses its liquidity needs
and monitors its ability to meet short-term obligations. As of June 30, 2024, the Company has sufficient cash and cash equivalents to
settle its current liabilities, including accounts payable, as they become due. The reduction in accounts payable from HK$7,079,837 as
of December 31, 2023 to HK$3,456,847 as of June 30, 2024 reflects the settlement of key project-related costs.

The Company does not anticipate any liquidity constraints
in settling remaining payables and maintains adequate working capital reserves to ensure the timely settlement of all liabilities.

| F-69 |

12. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

The following table presents the balances of accrued
expenses and