Company: LDDD
Filing Date: 2025-09-26
Form Type: 10-K
Source: 0001213900-25-091988
Chunk: 66

Company: Longduoduo Co Ltd
Filing Date: 2025-09-26
Form: 10-K
Item: Item 1
Chunk 66
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inputs when measuring fair value. ASC 820 establishes three levels of inputs that may be used to measure fair value. The hierarchy gives
the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the
lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value
hierarchy are as follows:

Level
1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level
2: Quoted prices, 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 the years ended June 30, 2025 and 2024.

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

F-10

LONGDUODUO
COMPANY LIMITED AND SUBSIDIARIES

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE YEARS ENDED JUNE 30, 2025 AND JUNE 30, 2024

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)