Company: YDDL
Filing Date: 2025-01-21
Form Type: F-1
Source: 0001213900-25-004967
Chunk: 164

Company: One & one Green Technologies. INC
Filing Date: 2025-01-21
Form: F-1
Chunk 164
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 production and trading of scrap metals. The Company records revenue net of VAT. This VAT may be offset by qualified input VAT paid by the Company to suppliers. Net VAT balance between input VAT and output VAT is recorded in the line item of other current assets on the consolidated balance sheets. The tax is equivalent to a uniform rate of 12%, based on the gross selling price of goods or properties sold, or gross receipts from the sale of services. The Company has a VAT exemption on importation and export sales as VAT -registeredpersons are zero -rated. q)Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker (the “CODM”), which is comprised of the chief executive officer of the Company’s management team. Consequently, the Company has determined that it has only one reportable operating segment. r)Comprehensive income Comprehensive income includes all changes in equity from transactions and other events and circumstances excluding transactions resulting from investments from owners and distributions to owners. For the years presented, total comprehensive income included foreign currency translation adjustments. s)Earnings per share Earnings per share is computed in accordance with ASC 260. For the years ended December 31, 2023 and 2022, 20,000,000 shares were issued and outstanding at par value, on a retroactive basis to reflect the Reorganization. Basic earnings per ordinary share is computed by dividing net income attributable to holders of ordinary shares by the weighted average number of Ordinary Shares outstanding during the year. Diluted earnings per share is calculated by dividing net income attributable to ordinary shareholders by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the year. Ordinary equivalent shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti -dilutiveor in the case of contingently issuable shares that all necessary conditions for issuance have not been satisfied. For the years ended December31, 2023 and 2022, there was no dilution impact. F-12 ONE AND ONE GREEN TECHNOLOGIES. INC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 2.Summary of Significant Accounting Policies (cont.) t)Commitments and contingencies The Company accrues estimated losses from loss contingencies by a charge to income when information available before financial statements are issued or are available to be issued indicates that it is probable that an asset had been impaired, or a liability had been incurred at the date of the financial statements and the amount of the loss