Company: AOAO
Filing Date: 2025-07-30
Form Type: S-1/A
Source: 0001641172-25-021532
Chunk: 96

Company: Alpha One Inc.
Filing Date: 2025-07-30
Form: S-1/A
Chunk 96
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 |      |          |
|                                   |     |                 2025 |          |     | 2024 |          |
| Period-end RMB:US$1 exchange rate |     |                      | 0.137729 |     |      | 0.138498 |
| Period-average RMB:US$1 exchange  
 rate                              |     |                      | 0.138587 |     |      | 0.139526 |

| F-9 |

The RMB is not freely convertible into foreign currency and all foreign exchange transactions must take place through authorized institutions. No representation is made that the RMB amounts could have been, or could be, converted into U.S. dollars at the rates used in translation.

Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, demand deposits placed with banks or other financial institutions and have original maturities of less than three months. The Company’s primary bank deposits are located in the PRC.

Accounts receivable and allowance for credit losses

Accounts receivable represents the amounts that the Company has an unconditional right to consideration and is recorded net of allowance for credit losses. The Company estimated allowance for credit losses to reserve for potentially uncollectible receivable amounts periodically, considering factors in assessing the collectability of its accounts receivable, such as historical distribution of the age of the amount due, payment history, creditworthiness, forward-looking factor, historical collections data of. The credit term for the customers of telecommunication engineering services was 90 working days after the quality acceptance checked and the customers of sales of intelligent products was 10 days payment after the contract takes effect (signed and chopped by both parties). The customers, to assess the credit risk characteristics. If there is strong evidence indicating that the accounts receivable is likely to be unrecoverable, the Company also makes specific allowance in the period in which a loss is determined to be probable. Accounts receivable are considered impaired and written-off when it is probable that all contractual payments due will not be collected after all collection efforts have been exhausted.

Contract costs

Contract costs comprises direct labour costs and those overheads during the implementation of telecommunication construction that have been incurred , where the costs were temporarily capitalised as a balance sheet item. Contract costs are recognised as part of cost of sales in the statement of profit or loss and other comprehensive income in the period in which revenue is recognised.

Property and equipment, net

Property and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives,