Company: HNIT
Filing Date: 2025-10-15
Form Type: 10-Q
Source: 0001493152-25-018080
Chunk: 52

Company: Huineng Technology Corp
Filing Date: 2025-10-15
Form: 10-Q
Item: Item 8
Chunk 52
---
 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 $14,808 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards
as the management believes it is more likely than not that these assets will not be realized in the future.

SCHEDULE OF DEFERRED TAX ASSETS 

    As of  August 31, 2025  
    As of  November 30, 2024 
  
    Deferred tax assets: 

    Net operating loss carryforwards 

    – United States of America 
    $14,808  
    $9,236 
  
    – Malaysia 
     -  
     114 
  
    Net operating loss carryforwards 
     -  
     114 

    Less: valuation allowance 
     (14,808) 
     (9,350)
  
    Deferred tax assets 
    $-  
    $- 

Management
believes that it is more likely than not that the deferred tax assets will not be fully realizable in the future. Accordingly, the Company
provided for a full valuation allowance against its deferred tax assets of $14,808 as of August 31, 2025.

    F-10

12.
CONCENTRATIONS OF RISK

Customer
Concentration

For
the nine months ended August 31, 2025, there were two customers who accounted for more than 10