Company: EZOO
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001493152-25-020156
Chunk: 53

Company: Ezagoo Ltd
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 53
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 into US$1 has been made at the following exchange rates for the respective periods:

SCHEDULE OF FOREIGN CURRENCY TRANSLATION OF
EXCHANGE RATES

    2025  
    2024 

    As of and for the six months ended June 30, 

    2025  
    2024 
  
    Period-end RMB: US$1 exchange rate 
     7.17  
     7.26 
  
    Period-average RMB: US$1 exchange rate 
     7.25  
     7.20 
  
    Period-end HK$: US$1 exchange rate 
     7.84  
     7.81 
  
    Period-average HK$: US$1 exchange rate 
     7.79  
     7.82 
  
    Foreign exchange rate 
     7.79  
     7.82 

●
Cash and cash equivalents

The
company considers all highly liquid instruments with a maturity of six months or less at the time of issuance to be cash equivalents.
Cash and cash equivalents consist of cash on hand, demand deposits placed with banks that located in US, the Hong Kong and mainland China.

    F-7

EZAGOO
LIMITED

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(Currency
expressed in United States Dollars (“US$”), except for number of shares)

●
Property and equipment

Property
and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the
straight-line method. Estimated useful lives of the property and equipment are as follows:

 SCHEDULE
OF PLANT AND EQUIPMENT EXPECTED USEFUL LIVES

    Office
    equipment 
    3-5
    years

The
cost of maintenance and repairs is charged to expenses as incurred, whereas significant renewals and betterments are capitalized.

●
Lease

The
Company accounts for its leases in accordance with ASC 842 Leases. The Company leases office space. The Company concludes on whether
an arrangement is a lease at inception. This determination as to whether an arrangement contains a lease is based on an assessment as
to whether a contract conveys the right to the Company to control the use of identified property, plant or equipment for period of time
in exchange for consideration. Leases with an initial term of 12 months or less are