Company: HNIT
Filing Date: 2025-10-15
Form Type: 10-Q
Source: 0001493152-25-018080
Chunk: 51

Company: Huineng Technology Corp
Filing Date: 2025-10-15
Form: 10-Q
Item: Item 8
Chunk 51
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 2024, the Company has $0 and $18,164 respectively, outstanding amount due to a shareholder, which
is unsecured and non-interest bearing with no fixed terms of repayment.

    F-9

8.
ACCRUED LIABILITIES

As
of August 31, 2025 and November 30, 2024, the Company has other accruals of $3,100 and $9,500 respectively which comprise of outstanding
audit fees.

9.
DEFERRED REVENUE

As
of August 31, 2025 and November 30, 2024, the Company has deferred revenue of $2,000 and $3,000 respectively which consist of website
development, design and maintenance fees received in advance from customers but have yet to provide the service.

10.
SHAREHOLDERS’ EQUITY

On
August 15, 2023, upon the incorporation of the Company, Kae Ren Tee, subscribed 4,000,000 shares of common stock at par value of $0.001
per share for a total subscription value of $4,000.

On
July 11, 2024, the Company issued 1,545,000 shares of common stock being sold at $0.02 per share for a total of $30,900 through initial
public offering.

On
February 21, 2025, the Company issued 39,000,000 shares of common stock being subscribed by Kae Ren Tee at par value of $0.001 per share
for a total subscription value of $39,000.

On
August 1, 2025, a Stock Purchase Agreement was entered into between Kae Ren Tee and Ping Li, wherein Ping Li purchased 32,140,000 shares
of Common Shares at a price of $0.001 per shares, of Huineng Technology Corporation. As a result, Ping Li became an approximately 72.2%
holder of the voting rights of the issued and outstanding shares of the Company, on a fully-diluted basis, and became the controlling
shareholder.

As
of August 31, 2025, the Company has 44,545,000 shares of common stock issued and outstanding.

The
Company has 75,000,000 shares of commons stock authorized.

11.
INCOME TAX

The
loss from operation before income taxes of the Company for the nine months ended August 31, 2025 and August 31,