Company: LDDD
Filing Date: 2025-09-26
Form Type: 10-K
Source: 0001213900-25-091988
Chunk: 30

Company: Longduoduo Co Ltd
Filing Date: 2025-09-26
Form: 10-K
Item: Item 1
Chunk 30
---
uant
to the Holding Foreign Companies Accountable Act (“HFCAA”), as adopted by the United States Congress in 2020, the Public
Company Accounting Oversight Board (the “PCAOB”) issued a Determination Report on December 16, 2021 which found that the
PCAOB was unable to inspect or investigate completely registered public accounting firms headquartered in the PRC because of a position
taken by one or more authorities in mainland China. Under the HFCAA (as amended by the Consolidated Appropriations Act – 2023),
an issuer’s securities may be prohibited from trading on a U.S. stock exchange or facility if its auditor is not inspected by the
PCAOB for two consecutive years (reduced by Congress in 2023 from three consecutive years in the original HFCAA).

On
August 26, 2022, the China Securities Regulatory Commission (“CSRC”), the Ministry of Finance of China, and the PCAOB signed
a protocol governing inspections and investigations of audit firms based in China and Hong Kong. On December 15, 2022, the PCAOB
issued a new Determination Report which: (1) vacated the December 16, 2021 Determination Report; and (2) concluded that the PCAOB had
been able to conduct inspections and investigations completely in the PRC in 2022. The December 15, 2022 Determination Report cautions,
however, that authorities in the PRC might take positions at any time that would prevent the PCAOB from continuing to inspect or investigate
completely. As required by the HFCAA, if in the future the PCAOB determines it no longer can inspect or investigate completely because
of a position taken by an authority in the PRC, the PCAOB will act expeditiously to consider whether it should issue a new determination.
If the PCAOB is not able to fully conduct inspections of our auditor’s work papers in the PRC, our securities may be prohibited
from trading on a U.S. stock exchange or facility if our auditor is not inspected by the PCAOB for two consecutive years, and this ultimately
could result in our common stock being barred from listing in the United States, which would likely prevent our shareholders from being
able to sell their shares until the bar was lifted.

Longduoduo
recently engaged Bush & Associates CPA LLC as its independent auditor. Bush & Associates is headquartered in the State of Nevada.
The PCAOB is able to, and does, fully conduct