Company: BGHL
Filing Date: 2025-05-30
Form Type: DRS
Source: 0001213900-25-049553
Chunk: 161

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-05-30
Form: DRS
Chunk 161
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 the liabilities assumed and any non -controllinginterest in the acquired entity, and recognize and measure goodwill or a bargain gain from the purchase. The acquiree’s results are included in the Group’s consolidated financial statements from the date of acquisition. Assets acquired and liabilities assumed are recorded at their fair values on the date acquired and the excess of the purchase price over the amounts assigned is recorded as goodwill, or if the fair value of the net assets acquired exceeds the purchase price consideration, a bargain purchase gain is recorded. Adjustments to fair value assessment are generally recorded to goodwill over the measurement period (not longer than 12 months). The acquisition method also requires that acquisition -relatedtransaction and post -acquisitionrestructuring costs be charged to expense as committed, and requires the Group to recognize and measure certain assets and liabilities, including those arising from contingencies and contingent consideration in a business combination. (o)Transactions between entities under common control When accounting for a transfer of assets or exchange of shares between entities under common control of the Group, the carrying amounts of the assets and liabilities transferred shall remain unchanged subsequent to the transaction, and no gain or loss shall be recorded in the consolidated statements of comprehensive income. (p)Commitments and contingencies In the normal course of business, the Group is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover a wide range of matters, including, among others, government investigations, shareholder lawsuits, and non -incometax matters. An accrual for a loss contingency is recognized when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. If a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, is disclosed. As at December 31, 2024 and 2023, the Group had no such potential material loss contingency. F-10

BILLION GROUP HOLDINGS LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1. SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (cont.) (q)Recently issued accounting pronouncements In November 2023, the FASB issued ASU No. 2023 -07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the COD