Company: LDDD
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-108744
Chunk: 187

Company: Longduoduo Co Ltd
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 8
Chunk 187
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 considers assumptions that market participants would use when pricing the
asset or liability.

ASC 820 establishes a fair value hierarchy that
requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC
820 establishes three levels of inputs that may be used to measure fair value. The hierarchy gives the highest priority to unadjusted
quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving
significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

Level 1: Unadjusted quoted prices in active markets
that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2: Quoted prices, other than those in Level
1, in markets that are not active, or inputs that are observable, either directly 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 three months ended September 30, 2025 and 2024.

F-8

LONGDUODUO COMPANY LIMITED AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2025
AND 2024

(UNAUDITED)

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

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