Company: HNIT
Filing Date: 2025-01-23
Form Type: 10-K
Source: 0001493152-25-003324
Chunk: 231

Company: Huineng Technology Corp
Filing Date: 2025-01-23
Form: 10-K
Item: Item 9
Chunk 231
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30, 2023 

    Revenue  
    Percentage of Revenue  
    Accounts receivable 
  
    Customer A 
    $10,000  
     50% 
    $- 
  
    Customer B 
     10,000  
     50% 
     - 
  
    Total 
    $20,000  
     100% 
    $- 

12.
SEGMENT REPORTING

ASC
280, “Segment Reporting” establishes standards for reporting information about operating segments on a basis consistent with
the Company’s internal organization structure as well as information about services categories, business segments and major customers
in financial statements. The Company has single reportable segment based on business unit, information technology services business and
two reportable segments based on country, Malaysia and Hong Kong.

The Company adheres to the provisions of ASC 280, Segment Reporting, which
establishes standards for the way public business enterprises report information about operating segments in annual financial statements
and requires that those enterprises report selected information about operating segments in financial statements issued to shareholders. The
Company’s Chief Operating Decision Maker, its Chief Executive Officer (CEO), reviews the financial information presented for purposes
of allocating resources and evaluating its financial performance. Accordingly, the Company has determined that it operates in a single
reportable segment. All of the Company’s long-lived assets are located in the United States. Since the Company operates in one operating
segment, all required financial segment information can be found in the condensed financial statements.

The Company follows ASC 280, Segment Reporting. The Company’s chief
operating decision maker, the Chief Executive Officer, reviews the consolidated results of operations when making decisions about allocating
resources and assessing the performance of the Company as a whole and, hence, the Company has only one reportable segment. The Company
does not distinguish between markets or segments for the purpose of internal reporting. For the three months ended September 30, 2024
and 2023, sales through Amazon to Canada and other foreign countries were approximately 13.4% and 8.2% of the Company’s
total sales. During the three months ended September 30, 2024, sales of hydroponic products, including ventilation and grow light systems,
was approximately 17.2% of the Company’s total sales and the remaining 82.8% consisted of general gardening, home goods,
and other products and accessories. During the three months ended September 30