Company: AOAO
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001493152-25-001624
Chunk: 124

Company: Alpha One Inc.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 124
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. Income and expense items are translated into US$ using the periodic average exchange rates. The resulting foreign currency translation adjustments are recorded in other comprehensive income in the consolidated statements of comprehensive income (loss), and the accumulated foreign currency translation adjustments are presented as a component of accumulated other comprehensive income in the consolidated statements of shareholders’ equity if any.

Translation of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the respective periods:

|                                       |     |                              As 
 of and for the six months ended 
                       September 
                             30, |          |     |      |          |
|                                       |     |                            2024 |          |     | 2023 |          |
| Period-end RMB:US$1 exchange rate     |     |                                 | 0.142488 |     |      | 0.137447 |
| Period-average RMB:US$1 exchange rate |     |                                 | 0.138859 |     |      | 0.140513 |

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.

| F-25 |

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. 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