Company: HNIT
Filing Date: 2025-01-23
Form Type: 10-K
Source: 0001493152-25-003324
Chunk: 232

Company: Huineng Technology Corp
Filing Date: 2025-01-23
Form: 10-K
Item: Item 9
Chunk 232
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, 2023, sales of hydroponic products, including ventilation
and grow light systems, were approximately 16.8% of the Company’s total sales and the remaining 83.2% consisted of general
gardening, home goods and other products and accessories. As of September 30, 2024 and June 30, 2024, the Company had approximately $1.6 million
and $1.9 million of inventory stored in China. The Company’s majority of long-lived assets are located in California, United
States, majority of the deferred tax assets are US related, and a majority of the Company’s revenues are derived from within the
United States.

In
accordance with the “Segment Reporting” Topic of the ASC, the Company’s chief operating decision maker has been identified
as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing
performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements
to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers,
and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation
under “Segment Reporting” due to their similar customer base and similarities in economic characteristics; nature of products
and services; and procurement, manufacturing and distribution processes.

    F-12

SCHEDULE
OF SEGMENT REPORTING BY BUSINESS UNIT 

    By
    Business Unit 
    Website
    Development  
    Website
    Design  
    Website
    Maintenance  
    Total 

    For the Year Ended and As of November 30, 2024 
  
    By Business Unit 
    Website Development  
    Website Design  
    Website Maintenance  
    Total 
  
    Revenue 
    $14,333  
    $7,167  
    $4,200  
    $25,700 

    Cost of revenue 
     -  
     -  
     -  
     - 
  
    General and administrative expenses 
     (36,208) 
     (18,106) 
     (10,610) 
     (64,924)

    Loss from operations 
     (21,875) 
     (10,939) 
     (6,410) 
     (39,224)

    Total assets