Company: CHOW
Filing Date: 2025-02-10
Form Type: DRS/A
Source: 0001493152-25-005658
Chunk: 215

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-02-10
Form: DRS/A
Chunk 215
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 TriTech Distribution Limited               |     |     |              14,242,299 |     |   | 78.2 |   |     |     |               3,219,804 |     |   | 45.5 |

* Represents less than 10%

| F-25 |

4. ACCOUNTS RECEIVABLE, NET

The following table provides a summary of the Company’s accounts receivable and the allowance for expected credit losses as of December 31, 2022 and 2023:

|                                                |     | As of December 31, |            |   |     |      |            |   |     |           |           |   |
|                                                |     |               2022 |            |   |     | 2023 |            |   |     |           |           |   |
|                                                |     |                HK$ |            |   |     |  HK$ |            |   |     | US$ (Note 
 2(e))     |           |   |
| Accounts receivable                            |     |                    | 23,213,963 |   |     |      | 16,178,935 |   |     |           | 2,074,222 |   |
| Less: allowance for the expected credit losses |     |                    |   (842,674 | ) |     |      |   (493,720 | ) |     |           |   (63,297 | ) |
| Net accounts receivable                        |     |                    | 22,371,289 |   |     |      | 15,685,215 |   |     |           | 2,010,925 |   |

Movement in the Allowance for Expected Credit Losses

The movement in the allowance for expected credit losses for the years ended December 31, 2022 and 2023 is as follows:

|                       |     | As of December 31, |         |     |      |          |   |     |           |         |   |
|                       |     |               2022 |         |     | 2023 |          |   |     |           |         |   |
|                       |     |                HK$ |         |     |  HK$ |          |   |     | US$ (Note 
 2(e))     |         |   |
| Beginning balance     |     |                    |       - |     |      |  842,674 |   |     |           |