Company: CHOW
Filing Date: 2025-02-28
Form Type: DRS/A
Source: 0001493152-25-008591
Chunk: 115

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-02-28
Form: DRS/A
Chunk 115
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3, approximately HK$9,011,947 and HK$9,873,451 (US$1,265,827) were deposited with financial institutions located in Hong Kong, respectively. In accordance with the relevant regulations in Hong Kong, the maximum insured bank deposit amount is HK$500,000 for each financial institution. While we believe that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.

We are also exposed to risk from our accounts receivable, amounts due from related companies and prepayment and other current assets. These assets are subjected to credit evaluations. An allowance has been made for estimated unrecoverable amounts which have been determined by reference to past default experience and the current economic environment.

Concentration Risk

There were two and three customers from whom revenues individually represent greater than 10% of our total revenues for the fiscal years ended December 31, 2022 and 2023, respectively. The total sales to these customers accounted for approximately 53.8% and 62.2% of total revenues for the fiscal years ended December 31, 2022 and 2023, respectively. There were two and two customers from whom receivables individually represent greater than 10% of our total gross accounts receivable as of December 31, 2022 and 2023 respectively. The total receivables from these customers accounted for approximately 72.4% and 31.5% of our accounts receivable as of December 31, 2022 and 2023 respectively.

Future Financings

We may sell our Ordinary Shares in order to fund our business growth. Issuances of additional shares will result in dilution to existing shareholders. There is no assurance that we will achieve sales of our equity securities or arrange for debt or other financing to fund our growth in case it is necessary, or if we are able to do so, there is no guarantee that existing shareholders will not be substantially diluted.

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<div align='center'>Business</div>

OUR MISSION

To provide comprehensive, easy-to-use cloud solutions that help our valued clients grow and evolve their business by combining advanced cloud technologies with innovative digital solutions.

OVERVIEW

We are a pioneer in providing one-stop cloud solutions that support companies across the IT industry value chain throughout their entire cloud transformation journey from consulting, deployment and migration to cloud environment building and management. We were founded in December 2014 by a group of passionate and experienced professionals, who envisioned the potential of cloud technology