Company: HNIT
Filing Date: 2025-01-23
Form Type: 10-K
Source: 0001493152-25-003324
Chunk: 48

Company: Huineng Technology Corp
Filing Date: 2025-01-23
Form: 10-K
Item: Item 2
Chunk 48
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 of Nevada
on August 15, 2023.

On
June 4, 2024, the Company acquired 100% of the equity interest of Aceztech Sdn. Bhd., a limited liability company incorporated in Malaysia.

Aceztech
Corporation is headquartered in Kuala Lumpur, Malaysia (herein referred as “Malaysia”). We primarily provide website related
services including website development, website design and website maintenance to companies and individual customers in Malaysia and
Hong Kong. Our mission is to serve as a trusted partner on our customers’ digital journeys.

The
Company’s executive office is located at 33-01, 33rd Floor, Menara Keck Seng, 203 Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia.

Our
cash and cash equivalents are $10,341 as of November 30, 2024. Our cash balance is not sufficient to fund our limited levels of operations
for any period of time. In order to continue our current business plan and increase our current level of operations for the next twelve-month
period, we require further funding.

For
the year ended November 30, 2024, the Company incurred a net loss of $39,224 and used cash in operating activities of $27,461 and borrowed
$13,022 from our director. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.
The ability to continue as a going concern is dependent upon the Company’s profit generating operations in the future and/or obtaining
the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due.
These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts
and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

The
Company expects to finance its operations primarily through cash flow from revenue and continuing financial support from a shareholder.
In the event that we require additional funding to finance the growth of the Company’s current and expected future operations as
well as to achieve our strategic objectives, the shareholder has indicated the intent and ability to provide additional financing.

No
assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory
to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations,
in the case of debt financing, or