Company: CHOW
Filing Date: 2025-08-22
Form Type: F-1/A
Source: 0001641172-25-025146
Chunk: 209

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-08-22
Form: F-1/A
Chunk 209
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              As 
 of December 31, |           |     |      |         |     |             |         |
|                      |     |            2023 |           |     | 2024 |         |     |             |         |
|                      |     |             HK$ |           |     |  HK$ |         |     | US$         
 (Note 2(e)) |         |
| Payroll              
 and welfare payables |     |                 |   272,685 |     |      | 798,023 |     |             | 102,311 |
| Accrued              
 expenses             |     |                 | 1,250,987 |     |      |  40,788 |     |             |   5,229 |
|                      |     |                 | 1,523,672 |     |      | 838,811 |     |             | 107,540 |

| F-34 |

Payroll and Welfare Payables: The payroll and welfare payables represent amounts owed to employees for services rendered and the associated mandatory provident fund (MPF) contributions. Under the Hong Kong MPF Scheme, the Company is required to make contributions based on a percentage of qualified employees’ salaries. The Company recognized employee benefit expenses of HK$3,513,248 and HK$5,738,353 (US$735,686) for the years ended December 31, 2023, and 2024, respectively.

Composition of Accrued Expenses

Accrued expenses primarily consist of amounts due for office operating expenses related to ongoing operational activities. These expenses are recognized as liabilities when the Company has received the services but has not yet paid for them as of the balance sheet date.

Timing and Classification

All amounts recorded in accrued expenses and other current liabilities are classified as current liabilities and are expected to be settled within 12 months of the balance sheet date. These liabilities represent the Company’s short-term obligations and are due in the normal course of business operations.

Employee Benefit Accrual Methodology

The Company calculates its employee benefit liabilities, including MPF contributions, based on statutory requirements and internal compensation policies. Contributions are calculated as a percentage of each eligible employee’s gross salary and are accrued monthly in accordance with ASC 710 (Compensation). The contributions are made to the MPF on behalf of employees as required under the Hong Kong Legislative Council’s regulations.

Liquidity Management

The Company continually monitors its cash flow and liquidity to ensure that it can meet its short