Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 144

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 144
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 delivery of magazines to subscribers and distribution network expenses spent on leases and equipment,
and (iii) printing expenses primarily including expenses on creating plates, printing materials and supplies such as paper, ink and
general office supplies, utilities and printing equipment acquisition and maintenance, as well as prepress expenses such as proofreading
and color correction. Our cost of production was US$1.5 million, US$3.8 million and US$7.1 million in 2022, 2023 and 2024,
respectively.

Cost of hotel operation. Cost
of hotel operation primarily includes utilities expenses, repair and maintenance of the hotel properties, travel agent commission and
cleaning expenses. Our cost of hotel operation was US$1.7 million, US$2.1 million and US$8.5 million in 2022, 2023 and 2024, respectively.

Other income

Our other income was US$0.5 million,
US$1.2 million and US$24.8 million in 2022, 2023 and 2024, respectively. Other income comprises gain on disposal of subsidiaries,
bank interest income and others.

Gain from a bargain
purchase

Our gain from a bargain purchase
was US$4.8 million and US$4.5 million in 2022 and 2023, respectively, representing the gain from our acquisition of the business
of L’Officiel and The Art Newspaper in April 2022 and October 2023, respectively. We recorded no gain from a bargain purchase
in 2024.

Other operating
expenses

Our other operating expenses
were US$3.5 million, US$5.7 million and US$15.5 million in 2022, 2023 and 2024, respectively. Other operating expenses
primarily include depreciation relating to our hotel properties, advertising and promotion expenses, IT related costs, legal and professional
fee, premises costs, travelling expenses and others.

Staff costs

Our staff costs were US$3.9 million,
US$7.9 million and US$13.1 million in 2022, 2023 and 2024, respectively. Salaries and bonus and pension scheme contributions
are the major components of our staff costs.

Share of profits
(losses) of joint ventures

Our share of profits (losses)
of joint ventures was US$0.8 million in profit, US$2.6 million in losses and US$0.6 million