Company: LDDD
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-013782
Chunk: 194

Company: Longduoduo Co Ltd
Filing Date: 2025-02-14
Form: 10-Q
Item: Part II, Item 8
Chunk 194
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 the functional currency at the exchange rates prevailing at the dates of the transactions.
Foreign currency exchange gains and losses resulting from these transactions are included in operations.

The exchange rates used for foreign currency translation are as follows:

    For the Six Months Ended  December 31, 

    2024  
    2023 

    (RMB/HKD to USD)  
    (RMB/HKD to USD) 
  
    Assets and liabilities 
    period end exchange rate 
     7.2985/7.7658 
     7.0798/7.8085
  
    Revenue and expenses 
    period weighted average 
     7.1772/7.7868 
     7.2208/7.8191

F. Concentration of credit risk

The Company
maintains cash in state-owned banks in China. In China, the insurance coverage of each bank is RMB500,000 (approximately USD$69,000).
As of December 31, 2024 and June 30, 2024, the Company had $1,084,327 and $826,853 cash in excess of the insured amount,
respectively.

For each
of the six months ended December 31, 2024 and 2023, one customer accounted for 99.9% of commission revenue.

For the six months ended December
31, 2024 and 2023, the Company had three major suppliers that each accounted for over 10% of its total cost of revenue.

    For the Six Months Ended December 31, 2024  
    For the Six Months Ended December 31, 2023 

    Cost of revenue  
    Percentage of Cost of revenue  
    Cost of revenue  
    Percentage of Cost of revenue 
  
    Supplier A 
    $6,431  
     15% 
    $25,144  
     24%
  
    Supplier B 
     11,103  
     25% 
     38,176  
     36%
  
    Supplier C 
     22,137  
     50% 
     29,179  
     28%

There are
three suppliers that accounts for 11%, 23% and 34% of the account payable as of December 31, 2024 and one supplier that accounts for 68%
of the account payable as of June 30