Company: MVNC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008388
Chunk: 63

Company: Marvion Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 63
---
, the Company files tax returns that are subject to examination
by the relevant tax authorities.

Segment reporting

Accounting Standards Codification
(“ASC”) 280, “Segment Reporting” establishes standards for reporting information about operating segments
on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business
segments and major customers in unaudited condensed consolidated financial statements for details on the Company’s business segments.

In accordance with ASU No.
2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures, the Company considered whether additional
disclosures were required, including significant segment expenses and measures used by the chief operating decision maker (“CODM”).
The Company’s CODM is the Chief Executive Officer, Mr. Chan Sze Yu, who is responsible for reviewing performance and making decisions
regarding resource allocation.

     18 

Based on the management’s
assessment, the Company determined that it has two reportable business segments, as defined by ASC 280, as follows:

–Supply chain segment 
    Provision of
logistic service and warehousing service

–Financial segment 
    Provision of financial
consulting service

For the three and nine months
ended September 30, 2025 and 2024, all of the Company’s revenue and assets are locally generated in Hong Kong. Therefore, no geographical
segments are presented.

Uncertain tax positions

The Company did not take
any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the ASC 740 provisions of Section
740-10-25 for the three and nine months ended September 30, 2025 and 2024.

Net income per share

The Company calculates net
income per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income per share is computed by dividing
the net income by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar
to basic income per share except that the denominator is increased to include the number of additional common shares that would have been
outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.

Foreign currencies transactions and translation

Transactions denominated
in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates
of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the
functional currency using the