Company: LDDD
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-042963
Chunk: 228

Company: Longduoduo Co Ltd
Filing Date: 2025-05-14
Form: 10-Q
Item: Part II, Item 8
Chunk 228
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 other than those in Level
1, in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the
asset or liability,

Level 3: Prices or valuation techniques that require
inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

There were no transfers between level 1, level
2 or level 3 measurements for nine months ended March 31, 2025 and 2024.

F-8

LONGDUODUO COMPANY LIMITED AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED MARCH 31, 2025 AND
MARCH 31, 2024

(UNAUDITED)

Financial assets and liabilities of the Company
are primarily comprised of cash and cash equivalents, other receivables, due from related parties, accounts payable, accrued expenses,
due to related parties, loan from third party, security deposits and other payables. As of March 31, 2025 and June 30, 2024, the carrying
values of these financial instruments approximated their fair values due to the short-term maturity of these instruments.

J. Segment information and geographic data

The Company is operating in one segment in accordance
with the accounting guidance in FASB ASC Topic 280, Segment Reporting. The Company’s revenues are from customers in
the People’s Republic of China (“PRC”). Substantially all assets of the Company are located in the PRC.

K. Revenue recognition

The Company adopted FASB ASC Section 606 —
Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the sales of products and services by applying
the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine
the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when
each performance obligation is satisfied.

The Company recognizes revenue when the amount
of revenue can be reliably measured, it is probable that economic benefits will flow to the entity, and specific criteria have been met
for each of the Company’s activities as described below.

Service Revenue

The Company sells healthcare service packages
to customers, which represent the rights to services purchased by the Company. The delivery of a healthcare service package to a customer
rep