Company: FVN
Filing Date: 2025-05-02
Form Type: S-4
Source: 0001829126-25-003304
Chunk: 284

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-02
Form: S-4
Chunk 284
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 personnel, as well as office rental, depreciation and related expenses for the Company’s research and product development team, and outsourced subcontractors’ expenses. Our research and development expenses decreased by RMB 3.9 million, or 23.0%, from RMB 17.1 million, for the three months ended December 31, 2023 to RMB 13.2 million, for the three months ended December 31, 2024, which was mainly due to the slowdown in the progress of outsourced technical development services.

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 1.5 million or 939.0%, from RMB 0.2 million, for the three months ended December 31, 2023 to RMB 1.6 million, for the three months ended December 31, 2024.

As a result of the foregoing, we reported a net profit of RMB 2.2 million for the three months ended December 31, 2023, as compared to a net profit of RMB 7.3 million for the three months ended December 31, 2024.

Foreign currency translation adjustment amounted to RMB (6,051) and RMB (467,860) for the three months ended December 31, 2023 and 2024, respectively. The balance sheet amounts, with the exception of equity, on December 31, 2024 were translated at $1.00 to RMB 7.1884, as compared to $1.00 to RMB 7.0074 on September 30, 2024. The equity accounts were stated at their historical rate. The average translation rates applied to the income statements accounts for the three months ended December 31, 2024 was $1.00 to RMB 7.1587. 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.

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Year Ended September 30, 2023 Compared to the Year Ended September 30, 2024

Revenue

The following table sets forth our revenue for the years ended September 30, 2023 and 2024, respectively:

|                               |     | For the Years Ended September