Company: CHOW
Filing Date: 2025-02-28
Form Type: DRS/A
Source: 0001493152-25-008591
Chunk: 284

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-02-28
Form: DRS/A
Chunk 284
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 considered historical performance, future profitability
projections, and tax planning strategies.

| F-72 |

Uncertain Tax Positions

In accordance with ASC 740-10, the Company evaluates
each uncertain tax position based on its technical merits, and measures any unrecognized benefits associated with tax positions. Each
position is reviewed individually, considering past audits, interpretations of tax law, and developments in tax regulations. The Company
assesses whether it is more likely than not that a tax position will be sustained upon examination by the relevant tax authorities, based
solely on the technical merits of the position.

As of December 31, 2023 and June 30, 2024, the Company
did not have any significant unrecognized uncertain tax positions. The Company also did not accrue any liability, interest, or penalties
related to uncertain tax positions, as there were no positions where it was determined that an unfavourable outcome was probable.

The Company continues to monitor developments in
tax law and evaluates any changes in its tax positions on a quarterly basis. Should any uncertain tax positions arise in the future,
the Company will measure and record any potential liabilities in accordance with ASC 740.

14. BANK BORROWINGS

The following table presents the balances of bank
borrowings as of December 31, 2023 and June 30, 2024:

|                                      |     | As                   
 of December 31, 2023 |   |     | As of June 30, 2024 |           |     |                 |         |
|:-------------------------------------|:----|:---------------------|:--|:----|:--------------------|----------:|:----|:----------------|--------:|
|                                      |     | HK$                  |   |     | HK$                 |           |     | US$ (Note 2(e)) |         |
|                                      |     |                      |   |     | -Unaudited          |           |     | -Unaudited      |         |
| Bank borrowings, current portion     |     |                      | - |     |                     |    38,934 |     |                 |   4,992 |
| Bank borrowings, non-current portion |     |                      | - |     |                     | 4,961,066 |     |                 | 636,034 |
|                                      |     |                      | - |     |                     | 5,000,000 |     |                 | 641,026 |

On May 27,