Company: BGHL
Filing Date: 2025-10-01
Form Type: F-1/A
Source: 0001213900-25-094318
Chunk: 214

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-10-01
Form: F-1/A
Chunk 214
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 impact of an uncertain income tax position on the income tax return is recognized at the largest amount that is more -likely - than-notto be sustained upon audit of the related tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. As at June 30, 2025 and December 31, 2024, the Group had no uncertain income tax position. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. (m)Fair value measurement The Group defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. The Group follows the provisions of ASC 820, “Fair Value Measurements and Disclosures”. ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. F-27 BILLION GROUP HOLDINGS LIMITED
NOTES TO INTERIM COMBINED FINANCIAL STATEMENTS (Unaudited) 1.SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (cont.) Level 2 applies to assets or liabilities for which there are inputs, other than quoted prices in level, that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model -derivedvaluations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the asset or liability. The carrying value of financial instruments included in current assets and liabilities approximate their fair values because of the short -termnature of these instruments. (n)Commitments and contingencies In the normal course of business, the Group is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover