Company: CHOW
Filing Date: 2025-01-13
Form Type: DRS/A
Source: 0001493152-25-001833
Chunk: 103

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-01-13
Form: DRS/A
Chunk 103
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:--|------:|:----|:----|--------:|:----|:----|-------:|:----|:--|------:|:----|:--|-------:|:--|
|                      |     | HK$                     |         |     | % |       |     | HK$ |         |     | US$ |        |     | % |       |     | % |        |   |
| Government subsidies |     |                         | 280,000 |     |   |  63.9 |     |     | 148,556 |     |     | 19,046 |     |   |  41.4 |     |   |  (46.9 | ) |
| Exchange gain, net   |     |                         |       - |     |   |       |     |     |  32,614 |     |     |  4,181 |     |   |   9.1 |     |   |    100 |   |
| Sundry income        |     |                         | 158,168 |     |   |  36.1 |     |     | 177,271 |     |     | 22,727 |     |   |  49.5 |     |   |   12.1 |   |
| Total                |     |                         | 438,168 |     |   | 100.0 |     |     | 358,441 |     |     | 45,954 |     |   | 100.0 |     |   |  (18.2 | ) |

Other income decreased by HK$0.08 million or 18.2% from HK$0.44 million for the year ended December 31, 2022 to HK$0.36 million (US$0.05 million) for the year ended December 31, 2023 mainly driven by the drop of subsidy under the Employment Support Scheme we received from the Hong Kong government during the year ended December 31, 2023.

Income tax expenses

Income tax expenses was HK$ 2.2million (US$ 0.3million) for the year ended December 31, 2023, as compared to HK$ 0.7million for the same period of 2022. The significant increase in income tax expenses by HK$ 1.5million or 205.1% was due to increase in gross