Company: YDDL
Filing Date: 2025-01-21
Form Type: F-1
Source: 0001213900-25-004967
Chunk: 189

Company: One & one Green Technologies. INC
Filing Date: 2025-01-21
Form: F-1
Chunk 189
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 based on the weight of available evidence, it is more -likely - than-notthat some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized in statement of income and comprehensive income in the period that includes the enactment date. The Company uses a more likely than not threshold for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. As a result, the impact of an uncertain income tax position is recognized at the largest amount that is more -likely - than-notto be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. p)Value added tax (“VAT”) The Company is subject to VAT on revenue generated from production and trading of scrap metals. The Company records revenue net of VAT. This VAT may be offset by qualified input VAT paid by the Company to suppliers. Net VAT balance between input VAT and output VAT is recorded in the line item of other current assets on the consolidated balance sheets. The tax is equivalent to a uniform rate of 12%, based on the gross selling price of goods or properties sold, or gross receipts from the sale of services. The Company has a VAT exemption on importation and export sales as VAT -registeredpersons are zero -rated. q)Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker (the “CODM”), which is comprised of the chief executive officer of the Company’s management team. Consequently, the Company has determined that it has only one reportable operating segment. r)Comprehensive income Comprehensive income includes all changes in equity from transactions and other events and circumstances excluding transactions resulting from investments from owners and distributions to owners. For the periods presented, total comprehensive income included foreign currency translation adjustments. F-36 ONE AND ONE GREEN TECHNOLOGIES. INC
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 2.Summary of Significant Accounting Policies (cont.) s)Earnings per share Earnings per share is computed in accordance with ASC 260. For the six months ended June 30, 2024 and 2023, 20,000,000 shares were issued and outstanding at par value, on a retroactive basis to reflect the Reorganization. Basic earnings per ordinary share is computed by dividing net income attributable to holders of ordinary shares by the weighted