Company: HNIT
Filing Date: 2025-10-15
Form Type: 10-Q
Source: 0001493152-25-018080
Chunk: 3

Company: Huineng Technology Corp
Filing Date: 2025-10-15
Form: 10-Q
Item: Item 2
Chunk 3
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 the amount due to our sole director and increase in deferred revenue.

Cash
Used in Investing Activity

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

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

For
the nine months ended August 31, 2024, the Company generated $30,900 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.

-5-

Critical
Accounting Policies

Recent
accounting pronouncements

In
November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03
Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) Disaggregation of Income
Statement Expenses. The guidance in ASU 2024-03 requires public business entities to disclose in the notes to the financial statements,
among other things, specific information about certain costs and expenses including purchases of inventory; employee compensation; and
depreciation, amortization and depletion expenses for each caption on the income statement where such expenses are included. ASU 2024-03
is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15,
2027. Early adoption is permitted, and the amendments may be applied prospectively to reporting periods after the effective date or retrospectively
to all periods presented in the financial statements. The Company is currently evaluating the provisions of this guidance and assessing
the potential impact on the Company’s financial statement disclosures.

In
March 2025, the FASB issued ASU 2025-02, Liabilities (Topic 405): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin
No. 122, which removes certain SEC guidance related to obligations to safeguard crypto-assets. The Company does not engage in activities
involving crypto-assets; therefore, the adoption of this ASU is