Company: LDDD
Filing Date: 2025-09-26
Form Type: 10-K
Source: 0001213900-25-091988
Chunk: 321

Company: Longduoduo Co Ltd
Filing Date: 2025-09-26
Form: 10-K
Item: Item 3
Chunk 321
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 or indirectly,
for substantially the full term of the asset or liability,

Level
3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported
by little or no market activity).

There
were no transfers between level 1, level 2 or level 3 measurements for the years ended June 30, 2025 and 2024.

Financial
assets and liabilities of the Company are primarily comprised of cash and cash equivalents, other receivables, prepayments, due from
related parties, accounts payable, deferred revenue, accrued expenses, due to related parties and other payables. As of June 30, 2025
and 2024, the carrying values of these financial instruments approximated their fair values due to the short-term maturity of these instruments.

F-10

LONGDUODUO
COMPANY LIMITED AND SUBSIDIARIES

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE YEARS ENDED JUNE 30, 2025 AND JUNE 30, 2024

J.
Segment information and geographic data

The
Company is operating in one segment in accordance with the accounting guidance in FASB ASC Topic 280, Segment Reporting.
The company’s revenues are from customers in the People’s Republic of China (“PRC”). Substantially all assets
of the Company are located in the PRC.

K.
Revenue recognition

The
Company adopted FASB ASC Section 606 — Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from
the sales of products and services by applying the following steps: (1) identify the contract with a customer; (2) identify the performance
obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in
the contract; and (5) recognize revenue when each performance obligation is satisfied.

The
Company recognizes revenue when the amount of revenue can be reliably measured, it is probable that economic benefits will flow to the
entity, and specific criteria have been met for each of the Company’s activities as described below.

Service
Revenue

The
Company sells healthcare service packages to customers, which represent the rights to services purchased by the Company. The delivery
of a healthcare service package to a customer represents a separate performance obligation. The Company’s policy is to recognize
service revenue at that time when the healthcare service package has been sold, ownership and risk