Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 263

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 263
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 10,378 |   |
| Balance — March 31, 2025                            
 (unaudited)                                         |     |                 | — |     | $      | — |     |                 | 3,825,000 |     | $      | 382 |     | $          | — |     | $           | (4,710,870 | ) |     | $             | (4,710,488 | ) |

<div align='center'>The accompanying notes
are an integral part of the unaudited condensed financial statements.

F-25

BLACK SPADE ACQUISITION II CO

CONDENSED STATEMENT OF CASH FLOWS

FOR THE THREE MONTHS ENDED MARCH 31, 2025

(UNAUDITED)</div>

| Cash Flows from Operating Activities:                             |     |   |            |   |
|:------------------------------------------------------------------|:----|:--|-----------:|:--|
| Net income                                                        |     | $ |     10,378 |   |
| Adjustments to reconcile net income to net cash used in operating 
 activities:                                                       |     |   |            |   |
| Interest income on cash held in Trust Account                     |     |   | (1,648,030 | ) |
| Changes in operating assets and liabilities:                      |     |   |            |   |
| Prepaid expenses and other current assets                         |     |   |    (10,022 | ) |
| Accounts payable and accrued expenses                             |     |   |  1,355,534 |   |
| Due to related party                                              |     |   |     18,714 |   |
| Net cash used                                                     
 in operating activities                                           |     |   |   (273,426 | ) |
| Cash Flows from Investing Activities:                             |     |   |            |   |
| Cash withdrawn from Trust Account for                             
 working capital purposes                                          |     | $ |    117,248 |   |
| Net cash provided                                                 
 by investing activities                                           |     |   |    117,248 |   |
| Net Change in Cash                                                |     |   |   (156,178 | ) |
| Cash – Beginning of period                                        |     |   |  2,117,016 |   |
| Cash – End of period                                              |     | $ |  1,960,838 |   |

<div align='center'>The accompanying notes
are an integral part of