Company: FVN
Filing Date: 2025-04-14
Form Type: DRS/A
Source: 0001829126-25-002616
Chunk: 288

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-04-14
Form: DRS/A
Chunk 288
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MB 1.2 million (USD 0.2 million) for the years ended September 30, 2023 and 2024, respectively, and recognized as other income when they were received because they were not subject to any past or future conditions.

Finance expenses primarily related to interest expense on loans. Our operating subsidiaries accrued finance expenses totaling RMB 0.2 million and RMB 0.5 million (USD 0.07 million) for the years ended September 30, 2023 and 2024, respectively.

Provision for income taxes

Our operating subsidiaries are subject to income taxes within PRC at the applicable tax rate on taxable income. Our income tax expenses increase RMB 3.4 million or 3809.9%, from RMB 0.09 million, for the year ended September 30, 2023 to RMB 3.5 million, for the year ended September 30, 2024.

As a result of the foregoing, we reported a net profit of RMB 1.6 million for the year ended September 30, 2023, as compared to a net profit of RMB 19.2million for the year ended September 30, 2024.

Foreign currency translation adjustment amounted to RMB (5,985) and RMB (262,603) for the years ended September 30, 2023 and 2024, respectively. The balance sheet amounts, with the exception of equity, on September 30, 2024 were translated at $1.00 to RMB 7.0074, as compared to $1.00 to RMB 7.1798 on September 30, 2023. The equity accounts were stated at their historical rate. The average translation rates applied to the income statements accounts for the year ended September 30, 2024 was $1.00 to RMB 7.1177. The change in the value of the U.S. dollar relative to the RMB may affect our financial results reported in RMB terms without giving effect to any underlying change in our business or results of operation.

Liquidity and Capital Resources

To date, we have financed our operations primarily through cash flows from operations and loans from banks and related parties, if necessary. We plan to support our future operations primarily from cash generated from our operations and the business combination proceeds.

As reflected in our unaudited consolidated financial statements, we had net profit of RMB 2.