Company: BGHL
Filing Date: 2025-09-25
Form Type: F-1/A
Source: 0001213900-25-091359
Chunk: 184

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-09-25
Form: F-1/A
Chunk 184
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 to extend or terminate the lease when it is reasonably certain that we will exercise that option. The Group generally uses the base, non -cancelable, lease term when determining the ROU assets and F-9 BILLION GROUP HOLDINGS LIMITED
NOTES TO THE COMBINED FINANCIAL STATEMENTS 1. SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (cont.) lease liabilities. ROU assets also include any prepaid lease payments and lease incentives. The current portion of operating lease liabilities is included in accrued expenses and other current liabilities. Should there be long term portion, the non -currentlease liabilities will be included in operating lease liabilities. Operating lease expense is recognized on a straight -linebasis over the lease term. (k)Convenience translation Translations of the combined balance sheets, combined statements of operations and comprehensive income and combined statements of cash flows from HK$ into US$ as of and for the year ended December 31, 2024 are solely for the convenience of the reader and were calculated at the rate of HK$7.80 = US$1, based on the pegged rate determined by the Hong Kong’s linked exchange rate system. No representation is made that the HK$ amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2024, or at any other rate. (l)Income taxes Income taxes are provided for in accordance with the laws and regulations applicable to the Group as enacted by the relevant tax authorities. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases (“temporary differences”). Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. The 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 December 31, 2024 and 2023, 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