Company: BGHL
Filing Date: 2025-09-22
Form Type: F-1/A
Source: 0001213900-25-089787
Chunk: 95

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-09-22
Form: F-1/A
Chunk 95
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 For the year ended December 31, 2024, other income of the operating entity was HK$5,077, representing a decrease of HK$18,188 or 78.2%, as compared to HK$23,265 for the year ended December 31, 2023. The decrease was due to that there was no exchange gain recognized for the year ended December 31, 2024. Income Taxes Harmony Alliance incorporated in the British Virgin Islands is not subject to taxation. The result of operation of the operating entity is subject to income taxes in Hong Kong. For the year ended December 31, 2024, income taxes of the operating entity were HK$975,000. The operating entity had no income tax expense 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. Net Income For the year ended December 31, 2024, net income of the operating entity was HK$7,451,582, as compared to that of HK$830,707 for the year 2023. The increase in net income was the result of the increase in revenues, cost of revenues, administrative expenses and income tax expenses; and the decrease in operating expenses and other income. Liquidity and Capital Resources COMBINED STATEMENTS OF CASH FLOWS

|                                                          |     |   Year Ended 
 December 31, 
         2024 |   |     |   Year Ended 
 December 31, 
         2024 |   |     |   Year Ended 
 December 31, 
         2023 |   |
|:---------------------------------------------------------|:----|-------------:|:--|:----|-------------:|:--|:----|-------------:|:--|
|                                                          |     |          US$ |   |     |          HK$ |   |     |          HK$ |   |
| Cash flows from operating activities                     |     |              |   |     |              |   |     |              |   |
| Net income                                               |     |      955,331 |   |     |    7,451,582 |   |     |      830,707 |   |
| Adjustments:                                             |     |              |   |     |              |   |     |              |   |
| Current tax liabilities                                  |     |      125,