Company: KPEA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010699
Chunk: 21

Company: Kun Peng International Ltd.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 21
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 forth in the H.10 statistical release of the Federal Reserve Board used for translation:

SCHEDULE
OF FOREIGN EXCHANGE RATES

    Hong Kong Dollar (HKD)  
    Chinese Renminbi (RMB) 
  
    As of March 31, 2025 (Closing Rate) 

    United States dollar ($1) 
     7.7799  
     7.2567 

    For the six months ended March 31, 2025 (Average Rate) 

    United States dollar ($1) 
     7.7771  
     7.2308 

    Hong Kong Dollar (HKD)  
    Chinese Renminbi (RMB) 
  
    As of September 30, 2024 (Closing Rate) 

    United States dollar ($1) 
     7.7693  
     7.0176 

    Hong Kong Dollar (HKD)  
    Chinese Renminbi (RMB) 

    For the six months ended March 31, 2024 (Average Rate) 

    United States dollar ($1) 
     7.8172  
     7.2064 

Cash and Cash Equivalents

Cash and cash equivalents are
carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and a certain amount of
cash kept in electronic wallets, “e-wallets.”

We consider all highly liquid
investments with an original maturity of three months or less when purchased to be cash equivalents. We maintain accounts with various
financial institutions in the PRC, and also e-wallets. As of March 31, 2025 and 2024, cash balances held in PRC banks are uninsured. Monies
that are held in e-wallets are deemed equivalent to cash, are highly liquid, and are relatively unsafe compared to cash in banks. We have
not experienced any losses in bank accounts or e-wallets and believe that we are not exposed to significant risks with respect to our
cash in bank accounts and that we are exposed to low risk with respect to our cash kept in e-wallets.

Inventory

Inventory consists of finished
goods, which include wines, gel and essence for beauty, ointment for health, prepaid cards, and detection kits. Inventory is measured at
the lower of cost or net realizable value on a first-in, first-out