Company: HNIT
Filing Date: 2025-10-15
Form Type: 10-Q
Source: 0001493152-25-018080
Chunk: 31

Company: Huineng Technology Corp
Filing Date: 2025-10-15
Form: 10-Q
Item: Item 1
Chunk 31
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 value of $4,000.

On
July 11, 2024, the Company issued 1,545,000 shares of common stock being sold at $0.02 per share for a total of $30,900 through initial
public offering.

On
February 21, 2025, the Company issued 39,000,000 shares of common stock being subscribed by Kae Ren Tee at par value of $0.001 per share
for a total subscription value of $39,000.

On
August 1, 2025, a Stock Purchase Agreement was entered into between Kae Ren Tee and Ping Li, wherein Ping Li purchased 32,140,000 shares
of Common Shares at a price of $0.001 per shares, of Huineng Technology Corporation. As a result, Ping Li became an approximately 72.2%
holder of the voting rights of the issued and outstanding shares of the Company, on a fully-diluted basis, and became the controlling
shareholder.

As
of August 31, 2025, the Company has 44,545,000 shares of common stock issued and outstanding.

The
Company has 75,000,000 shares of commons stock authorized.

11.
INCOME TAX

The
loss from operation before income taxes of the Company for the nine months ended August 31, 2025 and August 31, 2024 were comprised of
the following:

SCHEDULE OF LOSS FROM OPERATION BEFORE INCOME TAX 

    For the nine months ended August 31, 2025  
    For the nine months ended August 31, 2024 
  
    Tax jurisdictions from: 

    – Local 
    $(25,772) 
     (27,694)

    Foreign, representing 

    – Malaysia 
     -  
     (746)
  
    Loss  before income tax 
    $(25,772) 
    $(28,440)

United
States of America

The
Company is registered in the State of Nevada and is subject to United States of America tax law. As of August 31, 2025, the operations
in the United States of America incurred $70,516 of cumulative net operating losses (NOL’s) which can be carried forward to offset
future taxable income. The NOL carryforwards begin to expire in 2045, if unutilized. The Company has provided for a full valuation allowance
of approximately $14,