Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 488

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 488
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.5%. The profits of group entities not qualifying for the two -tieredprofits tax rates regime will continue to be taxed at a flat rate of 16.5%. For the year ended December 31, 2022 and 2023 and six months ended June 30, 2024, the Hong Kong Profits Tax of the qualifying group entity is calculated at 8.25% on the first HK$2 million of the estimated assessable profits and at 16.5% on the estimated assessable profits above HK$2 million.

F-50

WORLD MEDIA AND ENTERTAINMENT UNIVERSAL INC.
NOTES TO THE COMBINED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2022 and 2023 and
six months ended June 30, 2023 AND 2024 9.INCOME TAX EXPENSE (cont.) A reconciliation of income tax expense and profit before tax at the statutory tax rate in which the Group’s major operating subsidiaries are domiciled is as follows:

|                                                                                    |     |   Year ended 
 December 31, 
         2022 |   |     |    2023 |   |     | Six months ended 
         June 30, 
             2023 |   |     |    2024 |   |
|:-----------------------------------------------------------------------------------|:----|-------------:|:--|:----|--------:|:--|:----|-----------------:|:--|:----|--------:|:--|
|                                                                                    |     |      US$’000 |   |     | US$’000 |   |     |          US$’000 |   |     | US$’000 |   |
|                                                                                    |     |              |   |     |         |   |     |       -unaudited |   |     |         |   |
| Profit before tax                                                                  |     |       23,722 |   |     |  19,059 |   |     |           19,258 |   |     |  36,486 |   |
| Tax at statutory tax rate of 16.5%                                                 |     |        3,914 |   |     |   3,145 |   |     |            3,178 |   |     |   6,020 |   |
| Tax effect of different tax rates of subsidiaries operating in other jurisdictions |     |           86 |   |     |