Company: BGHL
Filing Date: 2025-09-22
Form Type: F-1/A
Source: 0001213900-25-089787
Chunk: 86

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-09-22
Form: F-1/A
Chunk 86
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 directly from the suppliers to the customers. As a result, the inventory level as at December 31, 2024 had been dropped significantly as compared to 2023. Accounts receivable, net As at December 31, 2024, accounts receivable was HK$42,697,286, representing an increase of HK$30,433,288 or 248.2%, as compared to HK$12,263,998 as of December 31, 2023. The operating entity generally grants to its customers credit terms of 60 -90days. The significant increase in accounts receivable was mainly due to the increase in sales in the last quarter for the year ended December 31, 2024 as compared to the same period of 2023. The operating entity maintains allowances for credit losses for estimated losses. Allowance for credit losses is made at different rates on accounts receivable based on aging and 100% on any specifically identified receivables that may become uncollectible. There is no allowance for credit losses or write -offduring the years ended December 31, 2024 and 2023. Other current assets Other current assets solely represented advance payment to a supplier. As at December 31, 2024, other current assets were HK$174,057. The advance payment was resulted from overpayment made by the operating entity for settlement of purchase of goods to the supplier which is incidental and will be utilized for future purchases. There was no other current assets as of December 31, 2024. Amounts due from former related companies As at December 31, 2023, the amounts due from former related companies were HK$2,969,602. There were no amounts due from former related companies as at December 31, 2024 as all outstanding receivable balances were settled in full during the year ended December 31, 2024. Accounts payable As at December 31, 2024, accounts payable was HK$10,017,835, representing an increase of HK$1,084,861 or 12.1%, as compared to HK$8,932,974 as of December 31, 2023. The increase in accounts payable was due to the increase in purchases from suppliers for the year ended December 31, 2024 as compared to 2023 in order to cope with the increase in sales. Accrued expenses and other current liabilities As at December 31, 2024, accrued expenses and other current liabilities