Company: FVN
Filing Date: 2025-05-02
Form Type: S-4
Source: 0001829126-25-003304
Chunk: 554

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-02
Form: S-4
Chunk 554
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 of VAT or GST. The VAT and GST are based on gross sales price and VAT rates range up to 13% in China, depending on the type of service provided or product sold.

Taxes payable consisted of the following:

|                      |     | September 30, |         |     | September 30, |           |     | September 30, |         |
|                      |     |          2023 |         |     |          2024 |           |     |          2024 |         |
|                      |     |           RMB |         |     |           RMB |           |     |           USD |         |
| VAT taxes payable    |     |               | 194,618 |     |               |    75,383 |     |               |  10,758 |
| Income taxes payable |     |               | 187,467 |     |               | 3,476,874 |     |               | 496,172 |
| Other taxes payable  |     |               |   3,358 |     |               |     4,151 |     |               |     592 |
| Totals               |     |               | 385,443 |     |               | 3,556,408 |     |               | 507,522 |

<div align='center'>F-41</div>

Note 11 — Concentration of risk

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash. In China, the insurance coverage of each bank is RMB 500,000 (approximately USD 70,000). As of September 30, 2024, cash with short-term investment balance of RMB 63,772,200 (USD 9,100,694) was deposited with financial institutions located in China. The Hong Kong Deposit Protection Board pays compensation up to a limit of HKD 500,000 (approximately USD 64,000) if the bank with which an individual/a company hold its eligible deposit fails. As of September 30, 2024, no cash balance was maintained at financial institutions in Hong Kong, of which nil was subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.

Most of the Company’s expense transactions are denominated in RMB and a significant portion of the Company and its subsidiaries’ assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies