HNIT 10-K & 10-Q changes, risk factors and insider trading
Huineng Technology Corp · OTC · Services-Computer Processing & Data Preparation · CIK 1994373 · All filings on SEC.gov
At a glance
What changed in the latest 10-K
Risk Factors
We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.
No wording changes found in this section.
Full comparison: every changed paragraph (0)
Management's Discussion & Analysis (MD&A)
Largest changes
“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.”see in full comparison
“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.”see in full comparison
see in full comparisonFromForAugustthe15,year2023 (Date of Inception) toended November 30,2023,2024, the Companyreceivedhas$5,652used $27,461 from operating activities, which was primarily attributable to net loss and increase in prepayment and deposit contra by depreciation expenses, increase in accrued liabilities, increase in the amount due to our sole director andanincreaseincreasein deferredrevenue contra by net loss and increase in prepayment and deposit.revenue.
“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”.”see in full comparison
“On August 15, 2023, our sole officer and director, Mr. Kae Ren Tee, purchased 4,000,000 shares of restricted common stock at a purchase price of $0.001 (par value) per share. The $4,000 in proceeds went directly to the Company to be used for working capital.”see in full comparison
For the year ended November 30,see in full comparison2024,2025, the Company has used$27,461$55,784 in operating activities, which was primarily attributable to netlossandloss, increase inprepaymentprepayments anddepositdeposit,contra by depreciation expenses, increase in accrued liabilities, increasedecrease in the amount due toour soledirector and decrease in deferred revenue contra by depreciation expenses and increase indeferredaccruedrevenue.liabilities and other payable.
Full comparison: every changed paragraph (23)
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.
On April 9, 2025, the Company has decided to dissolve its wholly owned subsidiary, Aceztech Sdn. Bhd. As a result, Aceztech Sdn. Bhd. is being deconsolidated in the Company’s financial statements.
AceztechHuineng
Technology Corporation is currently headquartered in KualaKowloon, Lumpur,Hong MalaysiaKong (herein referred as “MalaysiaHong Kong”). We primarily provide
website related
services including application and 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 Flat 6, 15/F, Bell House 525-543 Nathan Road, Yau Ma Tei, Kowloon, Hong Kong.
The
Company’s executive office is located at 33-01, 33rd Floor, Menara Keck Seng, 203 Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia.
For
the year ended November 30, 2024,2025, the Company incurred a net loss of $39,224$34,968 and used cash in operating activities of $27,461$55,784 and borrowednet
$13,022cash fromprovided ourby director.financing activities of $46,524. These conditions raise substantial doubt about the Company’s ability to continue
as a going concern.
The ability to continue as a going concern is dependent upon the Company’s profit generating operations in
the future and/or obtaining
the necessary financing to meet its obligations and repay its liabilities arising from normal business operations
when they become due.
These consolidated financial statements do not include any adjustments to the recoverability and classification
of recorded asset amounts
and classification of liabilities that might be necessary should the Company be unable to continue as a going
concern.
For the year ended November 30, 2025, the Company has generated a revenue of $14,200.
From
August 15, 2023 (Date of Inception) to November 30, 2023, the Company has generated a revenue of $20,000.
The
revenue generated was from the Company providing website development anddevelopment, design services and website maintenance to the customers.
FromFor
Augustthe 15,year 2023 (Date of Inception) toended November 30, 2023,2024, the Company had general and administrative expenses in the amount of $25,520.
$64,924. These were primarily
comprised of legal and professional fees, company incorporation fees, and audit fees.
For the year ended November 30, 2025, the Company incurred a net loss of $34,968.
From
August 15, 2023 (Date of Inception) to November 30, 2023, the Company incurred a net loss of $5,520.
The
Company’s cash and cash equivalents has increaseddecreased by $3,022,$9,583, from $7,319 as of November 30, 2023 to $10,341 as of November 30, 2024 to $758 as of November 30, 2025.
2024. The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets
and the
settlement of liabilities and commitments in the normal course of business.
Cash
Used in/Provided by Operating Activities
For
the year ended November 30, 2024,2025, the Company has used $27,461$55,784 in operating activities, which was primarily attributable to net loss
andloss, increase in prepaymentprepayments and depositdeposit, contra by depreciation expenses, increase in accrued liabilities, increasedecrease in the amount due to
our sole director and decrease in deferred revenue contra by
depreciation expenses and increase in deferredaccrued revenue.liabilities and other payable.
FromFor
Augustthe 15,year 2023 (Date of Inception) toended November 30, 2023,2024, the Company receivedhas $5,652used $27,461 from operating activities, which was primarily
attributable to net
loss and increase in prepayment and deposit contra by depreciation expenses, increase in accrued liabilities, increase in the amount
due to our sole director and anincrease increase
in deferred revenue contra by net loss and increase in prepayment and deposit.revenue.
For the year ended November 30, 2025, the Company did not generate nor used any cash in investing activity.
From
August 15, 2023 (Date of Inception) to November 30, 2023, the Company used $2,333 in investing activity, which was primarily attributable
to the purchase of plant and equipment. Specifically, the equipment purchased was office equipment.
On
August 15, 2023, our sole officer and director, Mr. Kae Ren Tee, purchased 4,000,000 shares of restricted common stock at a purchase
price of $0.001 (par value) per share. The $4,000 in proceeds went directly to the Company to be used for working capital.
For
the year ended November 30, 2024,2025, the Company receivedgenerated $30,900$46,524 fromin financing activitiesactivity, primarilywhich was attributable to advances from
shareholder and issuance of shares of common
stock pursuant to our initial public offering closing at July 11, 2024.stock.
FromFor
Augustthe 15,year 2023 (Date of Inception) toended November 30, 2023,2024, the Company receivedgenerated $4,000$30,900 fromin financing activitiesactivity primarily from issuance
of shares of common stock
pursuant to our director,initial Kaepublic Renoffering Tee.closing at July 11, 2024.
What changed in the latest 10-Q
Risk Factors
We could not find a separate Risk Factors item in the latest 10-Q. Some companies leave it out of quarterly reports; see the annual 10-K risk factors and the original filing. Open the filing on SEC.gov.
Management's Discussion & Analysis (MD&A)
New heading “Six months ended May 31, 2026 and May 31, 2025”
New heading “General and Administrative Expenses”
New heading “Net Income/(Loss)”
Largest changes
“Net cash provided by operating activities was $5,120 for the three months ended February 28, 2026. The cash provided by operating activities was attributable to depreciation expenses, decrease in prepayments and deposit and increase in contract liabilities contra by net loss, decrease in accrued liabilities and decrease in amount due to a shareholder.”see in full comparison
“Net cash used in operating activities was $1,584 for the six months ended May 31, 2025. The cash used in operating activities was attributable to net loss, decrease in accrued liabilities contra by depreciation expenses, decrease in prepayments and deposit, increase in amount due from a shareholder and increase in deferred revenue.”see in full comparison
Net cash used in operating activities wassee in full comparison$9,697$254 for thethreesix months endedFebruaryMay28,31,2025.2026. The cash used in operating activities was attributableattributableto netloss, increase in accounts receivable, increase in the amount due from a shareholder, andincome, decrease in accrued liabilities contra by depreciation expenses, decrease in accounts receivable, decrease in prepayments and deposit,and increasedecrease incontractamountliabilities.due from a shareholder and decrease in deferred revenue.
Full comparison: every changed paragraph (31)
Our
cash and cash equivalents are $5,878$504 as of FebruaryMay 28,31, 2026. Our cash balance is not sufficient to fund our limited levels of operations for
for any period of time. In order to continue our current business plan and increase our current level of operations for the next twelve-month
period, we require further funding.
For
the threesix months ended FebruaryMay 28,31, 2026, the Company incurredgenerated a net lossincome of $4,420$10,067 and aused workingcash capitalin operating activities of $254. As of
May 31, 2026, the Company had an accumulated deficit of $11,815.$69,645. These conditions
raise substantial doubt about the Company’s ability
to continue as a going concern. The ability to continue as a going concern
is dependent upon the Company’s profit generating operations
in the future and/or obtaining the necessary financing to meet its
obligations and repay its liabilities arising from normal business
operations when they become due. These consolidated financial statements
do not include any adjustments to the recoverability and classification
of recorded asset amounts and classification of liabilities that
might be necessary should the Company be unable to continue as a going
concern.
Three
months ended FebruaryMay 28,31, 2026 and FebruaryMay 28,31, 2025
For
the three months ended FebruaryMay 28,31, 2026, the Company generated revenue in the amount of $5,600.$22,400.
For
the three months ended FebruaryMay 28,31, 2025, the Company generated revenue in the amount of $1,200.$3,400.
For
the three months ended February 28, 2026, the Company had general and administrative expenses in the amount of $10,020. These were primarily
comprised of audit fees, stock storage & registrar fees, OTC fee, other professional fees and service tax.
For
the three months ended FebruaryMay 28,31, 2025,2026, the Company had general and administrative expenses in the amount of $10,591.$7,913. These were primarily
comprised of audit fees, stock and registrar fees, OTC fee, other professional fees and service tax.
For the three months ended May 31, 2025, the Company had general and administrative expenses in the amount of $15,836. These were primarily comprised of audit fees, stock and registrar fees, OTC fee, other professional fees and service tax.
Net Income/(Loss)
For
the three months ended FebruaryMay 28,31, 2026, the Company has incurredgenerated a net lossincome of $4,420.$14,487.
For
the three months ended FebruaryMay 28,31, 2025, the Company has incurred a net loss of $9,391.$11,645.
Six months ended May 31, 2026 and May 31, 2025
Revenues
For the six months ended May 31, 2026, the Company generated revenue in the amount of $28,000.
For the six months ended May 31, 2025, the Company generated revenue in the amount of $4,600.
The revenue generated was from the Company providing website and application development, design and maintenance services to the customers.
General and Administrative Expenses
For the six months ended May 31, 2026, the Company had general and administrative expenses in the amount of $17,933. These were primarily comprised of audit fees, stock and registrar fees, OTC fee, other professional fees and service tax.
For the six months ended May 31, 2025, the Company had general and administrative expenses in the amount of $26,427. These were primarily comprised of audit fees, stock and registrar fees, OTC fee, other professional fees and service tax.
Net Income/(Loss)
For the six months ended May 31, 2026, the Company has generated a net income of $10,067.
For the six months ended May 31, 2025, the Company has incurred a net loss of $21,036.
Cash
Provided by/Used in Operating Activities
Net
cash provided by operating activities was $5,120 for the three months ended February 28, 2026. The cash provided by operating activities
was attributable to depreciation expenses, decrease in prepayments and deposit and increase in contract liabilities contra by net loss, decrease
in accrued liabilities and decrease in amount due to a shareholder.
Net
cash used in operating activities was $9,697$254 for the threesix months ended FebruaryMay 28,31, 2025.2026. The cash used in operating activities was attributable
attributable to net loss, increase in accounts receivable, increase in the amount due from a shareholder, andincome, decrease in accrued liabilities
contra by depreciation expenses, decrease in accounts receivable, decrease in prepayments
and deposit, and increasedecrease in contractamount liabilities.due from a shareholder and decrease in deferred revenue.
Net cash used in operating activities was $1,584 for the six months ended May 31, 2025. The cash used in operating activities was attributable to net loss, decrease in accrued liabilities contra by depreciation expenses, decrease in prepayments and deposit, increase in amount due from a shareholder and increase in deferred revenue.
For
the threesix months ended FebruaryMay 28,31, 2026, the Company did not generate nor used any cash in investing activity.
For
the threesix months ended FebruaryMay 28,31, 2025, the Company did not generate nor used any cash in investing activity.
For
the threesix months ended FebruaryMay 28,31, 2026, the Company did not generate nor used any cash in financing activity.
For the six months ended May 31, 2025, the Company did not generate nor used any cash in financing activity.
For
the three months ended February 28, 2025, the Company received $39,000 from financing activities primarily from issuance of shares of
common stock pursuant to subscription by a shareholder on February 21, 2025.
HNIT insider buying and selling (Form 4)
Since 2026-04-11, insiders reported open-market purchases in 0 Form 4 filings and open-market sales in 0 filings. Totals add up every open-market (code P and S) line in those filings, using the prices reported in the filings. Awards, option exercises, tax withholding and gifts are listed below but not counted.
No Form 4 stock transactions in this period.
Well-known investors holding HNIT (13F)
None of the 59 investors we track reported a position in their latest 13F.