Company: HNIT
Filing Date: 2025-01-23
Form Type: 10-K
Source: 0001493152-25-003324
Chunk: 203

Company: Huineng Technology Corp
Filing Date: 2025-01-23
Form: 10-K
Item: Item 9
Chunk 203
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 for external
purposes in accordance with U.S. generally accepted accounting principles. In an effort to remediate the identified material weaknesses
and other deficiencies and enhance our internal controls, we have initiated, or plan to initiate, the following series of measures:

We
will increase our personnel resources and technical accounting expertise within the accounting function. We will create a position to
segregate duties consistent with control objectives. And, we plan to appoint one or more outside directors to our board of directors
who shall be appointed to an audit committee resulting in a fully functioning audit committee who will undertake the oversight in the
establishment and monitoring of required internal controls and procedures such as reviewing and approving estimates and assumptions made
by management when funds are available to us.

We
anticipate that these initiatives will be at least partially, if not fully, implemented by the end of fiscal year 2025.

Changes
in Internal Control over Financial Reporting

There
was no change in our internal controls over financial reporting that occurred during the period covered by this Report, which has materially
affected, or is reasonably likely to materially affect, our internal controls over financial reporting:

This
annual report does not include an attestation report of the Company’s registered independent public accounting firm regarding internal
control over financial reporting. Management’s report was not subject to attestation by the Company’s registered independent
public accounting firm pursuant to rules of the Securities and Exchange Commission that permit the Company to provide only management’s
report in this Annual Report on Form 10-K.

ITEM
9B. OTHER INFORMATION

Insider
Trading Arrangements

During
the quarter ended November 30, 2024, none of our directors or officers adopted or terminated any contract, instruction or written plan
for the purchase or sale of our securities to satisfy the affirmative defense conditions of “Rule 10b5-1 trading arrangement”
or any “non-Rule 10b5-1 trading arrangement”.

ITEM
9C. DISCLOSURE REGARDING FOREIGN JURISDICTION THAT PREVENT INSPECTIONS

Not
applicable.

14

PART
III

ITEM
10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Set
forth below are the present directors and executive officers of the Company. Note that there are no other persons who have been nominated
or chosen to become directors nor are there any other persons who have been chosen to become executive officers. There are no arrangements
or understandings between any of the directors,