Company: CHOW
Filing Date: 2025-08-22
Form Type: F-1/A
Source: 0001641172-25-025146
Chunk: 23

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-08-22
Form: F-1/A
Chunk 23
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 approximately 62.2% and 38.2% of our total revenue, respectively. Specifically, Motto Group Limited, Servicesky Limited, and Asia Top Loyalty Limited, our top three customers in the fiscal year ended December 31, 2023, contributed approximately 32.8%, 17.9% and 11.5% of our total revenue, respectively; while Conversant Technologies Pte. Ltd., Motto Group Limited and Star-tech Computing Limited, our top three customers in the fiscal year ended December 31, 2024, contributed approximately 16.4%, 12.1%, and 9.7% of our total revenue, respectively.

Inherent risks exist whenever a large percentage of total revenues are concentrated with a limited number of customers. It is not possible for us to predict the future level of demand for our solutions and services that will be generated by these customers or the future demand for our solutions and services by these customers in the marketplace. If any of these customers experience declining or delayed sales due to market, economic or competitive conditions, we could be pressured to reduce our prices or they could decrease the purchase quantity of our solutions and services, which could have an adverse effect on our margins and financial position, and could negatively affect our revenues and results of operations. If any of our largest customers terminates the purchase of our solutions and services, such termination would materially negatively affect our revenues, results of operations and financial condition.

Many of our customers have entered into short-term contracts, with terms of one year or less, which do not provide for automatic renewal and require the customer to opt-in to extend the term. Our customers have no obligation to renew, upgrade, or expand their agreements with us after the terms of their existing agreements have expired. If one or more of our customers terminate their contracts with us, whether for convenience, for default in the event of a breach by us, or for other reasons specified in our contracts, as applicable; if our customers elect not to renew their contracts with us; or if our customers renew their contractual arrangements with us for shorter contract lengths or for a reduced scope; our business and results of operations could be adversely affected. This adverse impact would be even more pronounced for customers that represent a material portion of our revenue or business operations.

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We depend on a small number of key suppliers for continued provision of our services.

Our purchases are concentrated among a small number of suppliers. In the fiscal years ended December 31, 2023 and