Company: FVN
Filing Date: 2025-03-27
Form Type: DRS/A
Source: 0001829126-25-002094
Chunk: 544

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-27
Form: DRS/A
Chunk 544
---
 based on the information available at the commencement date in determining the present value of lease payments.
The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis, an amount
equal to the lease payments, in a similar economic environment and over a similar term.

Lease terms used to calculate
the present value of lease payments generally do not include any options to extend, renew, or terminate the lease, as the Company does
not have reasonable certainty at lease inception that these options will be exercised. The Company generally considers the economic life
of its operating lease ROU assets to be comparable to the useful life of similar owned assets. The Company has elected the short-term
lease exception, therefore operating lease ROU assets and liabilities do not include leases with a lease term of twelve months or less.
Its leases generally do not provide a residual guarantee. The operating lease ROU asset also excludes lease incentives. Lease expense
is recognized on a straight-line basis over the lease term.

The Company reviews the impairment
of its ROU assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its
long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable.
The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted
future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of operating lease liabilities
in any tested asset group and include the associated operating lease payments in the undiscounted future pre-tax cash flows.

Research and development expenses
include salaries and other compensation-related expenses to the Company’s research and product development personnel, as well as
office rental, depreciation and related expenses for the Company’s research and product development team, and outsourced subcontractors
expenses.

<div align='center'>F-33</div>

Revenue represents the invoiced
value of service, net of VAT. The VAT is based on gross sales price and VAT rates range up to 6%, depending on the type of service provided.
Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities.
Net VAT balance between input VAT and output VAT is recorded in tax payable. All the VAT returns filed by the Company’s subsidiaries
in China, have been and remain subject to examination by the tax authorities for five years from the date of filing.

The Company accounts for