Company: HNIT
Filing Date: 2025-01-23
Form Type: 10-K
Source: 0001493152-25-003324
Chunk: 205

Company: Huineng Technology Corp
Filing Date: 2025-01-23
Form: 10-K
Item: Item 9
Chunk 205
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 by the Company; and strives
to be compliant with applicable governmental laws, rules and regulations. The Company has not formally adopted a written code of business
conduct and ethics that governs the Company’s employees, officers and or directors as the Company is not required to do so.

In
lieu of an Audit Committee, the Company’s directors are responsible for reviewing and making recommendations concerning the selection
of outside auditors, reviewing the scope, results and effectiveness of the annual audit of the Company’s financial statements and
other services provided by the Company’s independent public accountants.

At
this time the Board of Directors, is comprised of only one individual, Mr. Kae Ren Tee, who reviews the Company’s internal accounting
controls, practices and policies.

Committees
of the Board

Our
Company currently does not have nominating, compensation, or audit committees or committees performing similar functions nor does our
Company have a written nominating, compensation or audit committee charter. Our sole director, Mr. Tee, believes that it is not necessary
to have such committees, at this time, because he believes he can adequately perform the functions of such committees.

15

Audit
Committee Financial Expert

Our
Board of Directors has determined that we do not have a board member that qualifies as an “audit committee financial expert”
as defined in Item 407(D)(5) of Regulation S-K, nor do we have a Board member that qualifies as “independent” as the term
is used in Item 7(d)(3)(iv)(B) of Schedule 14A under the Securities Exchange Act of 1934, as amended, and as defined by Rule 4200(a)(14)
of the FINRA Rules.

We
believe that our Director(s) are capable of analyzing and evaluating our financial statements and understanding internal controls and
procedures for financial reporting. The Director(s) of our Company does not believe that it is necessary to have an audit committee because
management believes that the Board of Directors can adequately perform the functions of an audit committee. In addition, we believe that
retaining an independent Director who would qualify as an “audit committee financial expert” would be overly costly and burdensome
and is not warranted in our circumstances given the stage of our development and the fact that we have not generated any positive cash
flows from operations to date.

Involvement
in Certain Legal Proceedings

Our
Directors and our Officers have not been involved in any of the following events during the past ten years