Company: BGHL
Filing Date: 2025-09-12
Form Type: F-1/A
Source: 0001213900-25-087202
Chunk: 88

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-09-12
Form: F-1/A
Chunk 88
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 was making loss in 2022. There was improvement in the operating results so that the operating entity was able to reach a modest profit in 2023. Still its operations were relied upon the financial support from the former group companies. The increase in amounts due to former related companies was due to the increase in working capital requirements of the operating entity to support its business operations in the first quarter of 2024. The current shareholder acquired all equity interest of Harmony Alliance at March 31, 2024. Current tax liabilities The operating entity has been profit making for the years ended December 31, 2024 and 2023 and is subject to income taxes in Hong Kong. As at December 31, 2024, current tax liabilities of the operating entity were HK$975,000. The operating entity had no income tax payable as at December 31, 2023 as all taxable income was being netted off by available tax losses accumulated from prior years. However, all available deductible temporary differences were fully utilized during the year ended December 31, 2024. 48

COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

|                                                     |     |   Year Ended 
 December 31, 
         2024 |     |   Year Ended 
 December 31, 
         2024 |     |   Year Ended 
 December 31, 
         2023 |     |   Variance |   |     |        |   |
|:----------------------------------------------------|:----|-------------:|:----|-------------:|:----|-------------:|:----|-----------:|:--|:----|-------:|:--|
|                                                     |     |          US$ |     |          HK$ |     |          HK$ |     |        HK$ |   |     |      % |   |
| Revenues                                            |     |    6,773,938 |     |   52,836,714 |     |   20,811,124 |     | 32,025,590 |   |     |  153.9 |   |
| Cost of revenues – third parties                    |     |    5,456,836 |     |   42,563,319 |     |   16,550,256 |     | 26,013,063 |   |     |  157.2 |   |
| Cost of revenues – related party                    |     |            — |     |