Company: HNIT
Filing Date: 2025-07-14
Form Type: 10-Q
Source: 0001641172-25-018889
Chunk: 43

Company: Huineng Technology Corp
Filing Date: 2025-07-14
Form: 10-Q
Item: Item 8
Chunk 43
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 2025, the Company has incurred a net loss of $21,036.

For
the six months ended May 31, 2024, the Company has incurred a net loss of $7,298.

Liquidity
and Capital Resources

Cash
Used in/Provided by Operating Activities

Net
cash used in operating activities was $1,584 for the six months ended May 31, 2025. The cash used in operating activities was attributable
to net loss, decrease in accrued liabilities contra by depreciation expenses, decrease in prepayments and deposit, decrease in amount
due from a shareholder and increase in deferred revenue.

Net
cash used in operating activities was $5,596 for the six months ended May 31, 2024. The cash used in operating activities was attributable
to net loss, increase in accounts receivable, increase in prepayment and deposit and decrease in accrued liabilities contra by depreciation
expenses, increase in the amount due to our sole director and increase in deferred revenue.

Cash
Used in Investing Activity

For
the six months ended May 31, 2025, the Company did not generate nor used any cash in investing activity.

For
the six months ended May 31, 2024, the Company used $729 in investing activity, which was primarily attributable to the purchase of plant
and equipment. Specifically, the equipment purchased was office equipment.

Cash
Provided by Financing Activity

For
the six months ended May 31, 2025, the Company did not generate nor used any cash in financing activity.

For
the six months ended May 31, 2024, the Company generated $900 in financing activity, which was attributable to the share application
money pending allotment resulted from the shares subscription by an investor.

Off-Balance
Sheet Arrangements

The
Company has no off-balance sheet arrangements.

-4-

Critical
Accounting Policies

Recent
accounting pronouncements

In
December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which requires
disaggregated information about the reporting entity’s effective tax rate reconciliation as well as information on income taxes
paid. The ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The standard can
be applied prospectively or retrospectively. The Company is currently evaluating this guidance to determine