Company: HNIT
Filing Date: 2025-04-14
Form Type: 10-Q
Source: 0001641172-25-003960
Chunk: 3

Company: Huineng Technology Corp
Filing Date: 2025-04-14
Form: 10-Q
Item: Item 1
Chunk 3
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tech Sdn. Bhd., a limited liability company incorporated in Malaysia.

On January 21, 2025, the Company’s Board of
Directors approved changing the corporate name from Aceztech Corporation to Huineng Technology Corporation (herein referred as the “Name
Change”) and approved the application for a new stock symbol (herein referred as the “Symbol Change”). On the same day,
the Company filed an Issuer Company-Related Action Notification Form with Financial Industry Regulatory Authority (herein referred as
“FINRA”) to request effectiveness of the Name Change and Symbol Change.

On February 14, 2025, FINRA announced that the Name Change and Symbol Change would be made effective in the marketplace
as of market open on February 18, 2025. Additionally, FINRA approved the Company’s request to change its stock symbol from “ACZT”
to “HNIT”.

On
February 20, 2025, our sole director and officer, Kae Ren Tee resigned his positions as Director, President, Chief Executive Officer,
Secretary and Treasurer of the Company. Upon such resignations, Mr. Guoxiang Ao was appointed as the new President, Chief Executive Officer,
Secretary, Treasurer and Director of the Company.

Huineng
Technology Corporation is headquartered in Kuala Lumpur, Malaysia (herein referred as “Malaysia”). We primarily provide website
related services including website development, website design and website maintenance to companies and individual customers in Malaysia
and Hong Kong. Our mission is to serve as a trusted partner on our customers’ digital journeys.

The
Company’s executive office is located at 33-01, 33rd Floor, Menara Keck Seng, 203 Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia.

2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis
of Presentation

The
financial statements for Huineng Technology Corporation for the period ended February 28, 2025 are prepared in accordance with accounting
principles generally accepted in the United States of America (“US GAAP”). The Company has adopted November 30 as its fiscal
year end.

The
reporting currency of the Company is United States Dollars (“US$”), which is also the functional currency of the Company.

Use
of Estimates

Management
uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect
the reported amounts of assets and liabilities, the disclosure of contingent assets