Company: KVACU
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001213900-25-074277
Chunk: 62

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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 be read in conjunction
with the Company’s financial statements and notes thereto for the year ended December 31, 2024 included in the Company’s Form
10-K filed with the SEC on March 7, 2025. Certain information or footnote disclosures normally included in financial statements prepared
in accordance with U.S. GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting.
Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results
of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include
all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating
results and cash flows for the periods presented.

●Principles of consolidation

The unaudited condensed consolidated financial statements include the
unaudited condensed financial statements of the Company and its subsidiaries. All significant intercompany transactions and balances between
the Company and its subsidiaries are eliminated upon consolidation.

A subsidiary is the entity in which the Company,
directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies,
to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors.

The accompanying unaudited condensed consolidated
financial statements reflect the activities of the Company and each of the following entities:

  Name   Background   Ownership  KVAC (Cayman) Limited (“Acquirer”)   A Cayman Islands company
Incorporated on August 28, 2024   100% owned by the Company  KVAC MS (Cayman) Limited   A Cayman Islands company
Incorporated on July 10, 2024   100% owned by the Acquirer 

●Emerging growth company

The Company is an “emerging growth company,”
as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”),
and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that
are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting
firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure