Company: FVN
Filing Date: 2025-05-02
Form Type: S-4
Source: 0001829126-25-003304
Chunk: 125

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-02
Form: S-4
Chunk 125
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’s liquidity and its ability to fund and expand business.

Any transfer of funds by VIWO to its PRC subsidiaries, either as a shareholder loan or as an increase in registered capital, is subject to approval by or registration or filing with relevant governmental authorities in China. According to the relevant PRC regulations on foreign-invested enterprises in China, capital contributions to VIWO’s PRC subsidiaries are subject to registration with a local bank authorized by SAFE. In addition, (i) any foreign loan procured by VIWO’s PRC subsidiaries is required to be registered with SAFE or its local branches or filed with SAFE in its information system; and (ii) VIWO’s PRC subsidiaries may not procure loans which exceed the difference between their total investment amount and registered capital or, as an alternative, only procure loans subject to the calculation approach and limitation as provided in the People’s Bank of China Notice No. 9 (“PBOC Notice No. 9”). Any medium- or long-term loan to be provided by VIWO to the subsidiaries must be registered with the National Development and Reform Commission and SAFE or its local branches. VIWO may not be able to obtain these government approvals or complete such registrations on a timely basis, if at all, with respect to future capital contributions or foreign loans by VIWO to its PRC subsidiaries. If VIWO fails to receive such approvals or complete such registration or filing, VIWO’s ability to use the proceeds it receives from VIWO’s offshore financing activities and to capitalize VIWO’s PRC operations may be negatively affected, which could adversely affect VIWO’s liquidity and ability to fund and expand its business. There is, in effect, no statutory limit on the amount of capital contribution that VIWO can make to its PRC subsidiaries. This is because there is no statutory limit on the amount of registered capital for VIWO’s PRC subsidiaries, and VIWO is allowed to make capital contributions to VIWO’s PRC subsidiaries by subscribing for their initial registered capital and increased registered capital, provided that the PRC subsidiaries complete the relevant filing and registration procedures.

With respect to loans to the VIWO’s PRC subsidiaries by VIWO, (i) if the PRC subsidiaries adopt the traditional foreign exchange administration mechanism, or the Current Foreign Debt Mechanism, the outstanding amount of the loans shall not exceed the difference between the total investment and the registered capital of the PRC subsidiaries; and (ii) if the PRC subsidiaries adopt the foreign exchange administration mechanism as provided in Notice of the People’s Bank of