Company: LDDD
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-013782
Chunk: 214

Company: Longduoduo Co Ltd
Filing Date: 2025-02-14
Form: 10-Q
Item: Part II, Item 8
Chunk 214
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 months ended December 31, 2024 decreased by $1,050,447, primarily attributable to:

    ●
    $1,078,436 in advertising and promotion expenses incurred during the six months ended December 31, 2024, compared to $2,032,917 recorded during the six months ended December 31, 2023. The decrease was primarily attributable to a tactical decision by Management to reduce marketing expense while we await an economic recovery that will fund an increase in non-essential medical expenditures. Over the longer term, we intend to continue to devote available resources to expanded advertising and promotion expense for the purpose of achieving a broader market.

    ●
    $289,665 in salaries and benefit expenses in the six months ended December 31, 2024, compared to $353,588 during the six months ended December 31, 2023. The decrease in our labor costs was primarily caused by the company decreasing the number of employees due to adjustments in its operational policies.

    ●
    $336,981 in office expenses during the six months ended December 31, 2024, compared to $427,268 during the six months ended December 31, 2023. The decrease was mainly attributable to the fact that the decline of business has led to a decrease in daily expenses.

Our net income for the six months ended December
31, 2024 was $442,095, compared to a net income of $477,572 for the six months ended December 31, 2023. For the reasons discussed above,
the company return to profitability in the last quarter of 2024, as the government has recently introduced many policies to promote economic
recovery. But it may take some time for the situation to truly improve. Also, the company intends to improve its operations by adjusting
its operational policies. 

Our reporting currency is the U.S. dollar. Our
local currency, the Renminbi (RMB), is our functional currency. Results of operations and cash flow are translated at average exchange
rates during the period being reported upon, and assets and liabilities are translated at the unified exchange rate as quoted by OANDA
on the balance sheet date. Translation adjustments resulting from this process are included in other comprehensive income (loss). For
the six months ended December 31, 2024 and 2023, foreign currency translation adjustments of $(15,068) and $5,357, respectively,
have been reported as other comprehensive income