Company: FVN
Filing Date: 2025-04-14
Form Type: DRS/A
Source: 0001829126-25-002616
Chunk: 130

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-04-14
Form: DRS/A
Chunk 130
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 19, effective as of June 1, 2015, as amended by Circular of the State Administration of Foreign Exchange on Reforming and Regulating Policies on the Control over Foreign Exchange Settlement under the Capital Account, or SAFE Circular 16, effective on June 9, 2016, allows FIEs to settle their foreign exchange capital at their discretion, but continues to prohibit FIEs from using the Renminbi fund converted from their foreign exchange capitals for expenditure beyond their business scopes, and also prohibit FIEs from using such Renminbi fund to provide loans to persons other than affiliates unless otherwise permitted under its business scope. As a result, VIWO is required to apply Renminbi funds converted from the net proceeds VIWO received from its offshore financing activities within the business scopes of VIWO’s PRC subsidiaries. SAFE Circular 19 and SAFE Circular 16 may significantly limit VIWO’s ability to use Renminbi converted from the net proceeds from VIWO’s offshore financing activities to fund the establishment of new entities in China by their subsidiaries, to invest in or acquire any other PRC companies through VIWO’s PRC subsidiaries, which may adversely affect VIWO’s business, financial condition and results of operations.

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VIWO’s PRC subsidiaries are subject to restrictions on paying dividends or making other payments to VIWO, which may restrict its ability to satisfy liquidity requirements, conduct business and pay dividends to holders of VIWO’s ordinary shares.

VIWO is a holding company incorporated in the Cayman Islands. VIWO relies on dividends from its PRC subsidiaries for VIWO’s cash and financing requirements, such as the funds necessary to pay dividends and other cash distributions to VIWO’s shareholders, including holders of VIWO’s ordinary shares, and service any debt VIWO may incur. Current PRC regulations permit VIWO’s PRC subsidiaries to pay dividends to VIWO only out of their accumulated after-tax profits upon satisfaction of relevant statutory condition and procedures, if any, determined under Chinese accounting standards and regulations. In addition, VIWO’s PRC subsidiaries are required to set aside at least 10% of their accumulated profits each year, if any, to fund certain reserve funds until the total amount set aside reaches 50% of its registered capital. Furthermore, if VIWO’s PRC subsidiaries incur debt on their behalf in the future, the instruments governing the debt may restrict their ability to pay dividends or make other payments to VIWO, which may restrict VIWO’s ability to satisfy