Company: LDDD
Filing Date: 2025-09-26
Form Type: 10-K
Source: 0001213900-25-091988
Chunk: 326

Company: Longduoduo Co Ltd
Filing Date: 2025-09-26
Form: 10-K
Item: Item 3
Chunk 326
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 FINANCIAL STATEMENTS

FOR
THE YEARS ENDED JUNE 30, 2025 AND JUNE 30, 2024

China

Julong and its subsidiaries are subject to a 25%
standard enterprise income tax in the PRC. If the taxable income in the calendar year does not exceed RMB 3 million, only 25% of the
taxable income will be included in the tax base, which is then subject to a preferential tax rate of 20%. The Company accrued $222,268
and $523,207 of PRC income tax for the years ended June 30, 2025 and 2024.

A
summary of income (loss) before income taxes for domestic and foreign locations for the years ended June 30, 2025 and 2024 is as follows:

    For the year ended June 30, 

    2025  
    2024 
  
    United States 
    $(219,614) 
    $(200,515)
  
    Foreign 
     934,142  
     2,087,000 
  
    Total Income before income taxes 
    $714,528  
    $1,886,485 

The
difference between the U.S. federal statutory income tax rate and the Company’s effective tax rate was as follows:

    For the year ended 

    June 30,  
    June 30, 

    2025  
    2024 
  
    Income tax (benefit) at USA statutory rate 
     21% 
     21%
  
    U.S. valuation allowance 
     (21)% 
     (21)%
  
    Income tax (benefit) at USA effective rate 
     0% 
     0%

The
difference between the PRC statutory income tax rate and the PRC effective tax rate was as follows:

    For the year ended June 30, 

    2025  
    2024 
  
    Income tax (benefit) at PRC statutory rate 
     25% 
     25%
  
    Utilization of net operating loss carry forward 
     -  
     (1)%
  
    Tax preference 
     (10.2)% 
     - 
  
    PRC valuation allowance 
     3% 
     1%
  
    Income tax (benefit) at PRC effective rate