Company: HNIT
Filing Date: 2025-10-15
Form Type: 10-Q
Source: 0001493152-25-018080
Chunk: 38

Company: Huineng Technology Corp
Filing Date: 2025-10-15
Form: 10-Q
Item: Item 1
Chunk 38
---
 ended August 31, 2025. The cash used in operating activities was attributable
to net loss, decrease in accrued liabilities, decrease in deferred revenue contra by depreciation expenses, decrease in prepayments and
deposit, decrease in amount due from a shareholder.

Net
cash used in operating activities was $18,770 for the nine months ended August 31, 2024. The cash used in operating activities was attributable
to net loss, increase in accounts receivable, increase in prepayment and deposit and decrease in accrued liabilities contra by depreciation
expenses, increase in the amount due to our sole director and increase in deferred revenue.

Cash
Used in Investing Activity

For
the nine months ended August 31, 2025, the Company did not generate nor used any cash in investing activity.

For
the nine months ended August 31, 2024, the Company used $729 in investing activity, which was primarily attributable to the purchase
of plant and equipment. Specifically, the equipment purchased was office equipment.

Cash
Provided by Financing Activity

For
the nine months ended August 31, 2025, the Company did not generate nor used any cash in financing activity.

For
the nine months ended August 31, 2024, the Company generated $30,900 in financing activity, which was attributable to the share application
money pending allotment resulted from the shares subscription by an investor.

Off-Balance
Sheet Arrangements

The
Company has no off-balance sheet arrangements.

-5-

Critical
Accounting Policies

Recent
accounting pronouncements

In
November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03
Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) Disaggregation of Income
Statement Expenses. The guidance in ASU 2024-03 requires public business entities to disclose in the notes to the financial statements,
among other things, specific information about certain costs and expenses including purchases of inventory; employee compensation; and
depreciation, amortization and depletion expenses for each caption on the income statement where such expenses are included. ASU 2024-03
is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15,
2027. Early adoption is permitted, and the amendments may be applied prospectively to reporting periods after the effective date or retrospectively