Company: HNIT
Filing Date: 2025-01-23
Form Type: 10-K
Source: 0001493152-25-003324
Chunk: 221

Company: Huineng Technology Corp
Filing Date: 2025-01-23
Form: 10-K
Item: Item 9
Chunk 221
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 statements.

F-6

ACEZTECH
CORPORATION

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE YEAR ENDED NOVEMBER 30, 2024 AND FROM AUGUST 15, 2023 (DATE OF INCEPTION) TO NOVEMBER 30, 2023

(CURRENCY
EXPRESSED IN UNITED STATES DOLLARS (“US$”), EXCEPT FOR NUMBER OF SHARES)

1.
ORGANIZATION AND BUSINESS BACKGROUND

Aceztech
Corporation, a Nevada corporation, (herein referred as “the Company”) was incorporated under the laws of the State of Nevada
on August 15, 2023.

On
June 4, 2024, the Company acquired 100% of the equity interest of Aceztech Sdn. Bhd., a limited liability company incorporated in Malaysia.

Aceztech
Corporation is headquartered in Kuala Lumpur, Malaysia (herein referred as “Malaysia”). We primarily provide website related
services including website development, website design and website maintenance to companies and individual customers in Malaysia and
Hong Kong. Our mission is to serve as a trusted partner on our customers’ digital journeys.

The
Company’s executive office is located at 33-01, 33rd Floor, Menara Keck Seng, 203 Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia.

2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis
of Presentation

The
financial statements for Aceztech Corporation for the year ended November 30, 2024 are prepared in accordance with accounting principles
generally accepted in the United States of America (“US GAAP”). The Company has adopted November 30 as its fiscal year end.

The
reporting currency of the Company is United States Dollars (“US$”), which is also the functional currency of the Company.

Use
of Estimates

Management
uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect
the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported
revenue and expenses during the periods reported. Actual results may differ from these estimates.

Cash
and Cash Equivalents

Cash
and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions
and all highly liquid investments with an original maturity of three months or less as of the