Company: FVN
Filing Date: 2025-05-02
Form Type: S-4
Source: 0001829126-25-003304
Chunk: 574

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-02
Form: S-4
Chunk 574
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1,608,150 | ) |     |              | (223,715 | ) |

Uncertain tax positions

The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of September 30, 2024 and December 31, 2024, the Company did not have any significant unrecognized uncertain tax positions. The Company did not incur any interest and penalties related to potential underpaid income tax expenses for the three months ended December 31, 2023 and 2024 and does not anticipate any significant increases or decreases in unrecognized tax benefits in the next 12 months from December 31, 2024.

Value added taxes (“VAT”) and goods and services taxes (“GST”)

Revenue represents the invoiced value of service, net 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, |           |     | December 31, |           |     | December 31, |         |
|                      |     |          2024 |           |     |         2024 |           |     |         2024 |         |
|                      |     |           RMB |           |     |          RMB |           |     |          USD |         |
| VAT taxes payable    |     |               |    75,383 |     |              |   148,686 |     |              |  20,685 |
| Income taxes payable |     |               | 3,476,874 |     |              | 5,172,431 |     |              | 719,552 |
| Other taxes payable  |     |               |     4,151 |     |              |     4,292 |     |              |     597 |
| Totals               |     |               | 3,556,408 |     |              | 5,325,409 |     |              | 740,834 |

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Note 7 — Concentration of risk

Credit risk

Financialinstruments 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