Company: FVN
Filing Date: 2025-04-14
Form Type: DRS/A
Source: 0001829126-25-002616
Chunk: 105

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-04-14
Form: DRS/A
Chunk 105
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 major customers, then VIWO’s revenue could decline, which may adversely affect VIWO’s results of operations. Please refer to page 173 of the proxy statement/prospectus for a more detailed description of VIWO’s arrangements with each of its major customers.

VIWO, its subsidiaries depend on a limited number of vendors for a significant portion of its purchase which may result in heightened concentration risk.

VIWO, its subsidiaries also conduct business with a limited number of vendors. For the year ended September 30, 2023, one vendor accounted for 19% of the Company’s total purchases. For the year ended September 30, 2024, four vendors accounted for 22%, 17%, 15% and 15% of the Company’s total purchases, respectively.

As of September 30, 2023, four vendors accounted for 54%, 13%, 11% and 10% of the Company’s accounts payable, respectively. As of September 30, 2024, three vendors accounted for 65%, 18%, and 13% of the Company’s accounts payable, respectively.

VIWO’s financial results could be materially and adversely affected if any one supplier fails to fulfill its contractual obligations, or if VIWO is unable to find other suppliers to provide the same level of supplies. In addition, VIWO cannot assure you that performance by third-party vendors will be satisfactory, and if they under-perform, it will have a material adverse effect on the cash flows or profitability of VIWO’s business.

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Risk Factors Relating to Doing Business in China

Substantial uncertainties exist with respect to the enactment timetable, interpretation and implementation of PRC Foreign Investment Law and how it may impact the viability of VIWO’s current corporate structure, corporate governance and business operations.

In March 2019, the Standing Committee of the National People’s Congress of the PRC passed the Foreign Investment Law of the People’s Republic of China (“Foreign Investment Law”). Among other things, the Foreign Investment Law defines the “foreign investment” as the investment activities in China conducted by foreign individuals, enterprises and other organizations (collectively, the “Foreign Investors”) in a direct or indirectly manner, including any of the following circumstances: (1) the foreign investor establishes a foreign-invested enterprise within the territory of China, independently or jointly with any other investor; (2) the foreign investor acquires shares, equities, property shares or any other similar rights and interests of an enterprise within