Company: FVN
Filing Date: 2025-05-30
Form Type: S-4/A
Source: 0001829126-25-004067
Chunk: 313

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-30
Form: S-4/A
Chunk 313
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 the investment amount of USD $300 million or above carried out by PRC enterprises through the overseas enterprises under their control, such PRC enterprises shall, before the implementation of the projects, submit a report describing the details about such large-amount non-sensitive projects to NDRC. Where the PRC resident natural persons make overseas investments through overseas enterprises under their control, the Measures shall apply mutatis mutandis. Subsequently on January 31, 2018, NDRC issued the Catalogue of Sensitive Overseas Investment Industry (2018 Version) effective from March 1, 2018 under which enterprises shall be restricted from making overseas investments in certain industries including without limitation real estate and hotel.

As advised by our PRC counsel, the ultimate shareholders of VIWO, who are subject to PRC laws, are domestic individual residents as defined under the Circular 37. As such, their offshore investments are subject to foreign exchange registration requirements pursuant to Circular 37 and Circular 13, which have already been completed as noted above. These investments are not governed by the Administrative Measures for the Overseas Investment of Enterprises or the Administrative Measures for Overseas Investment Management and therefore do not require overseas direct investment registration with the local MOFCOM and NDRC.

Laws and Regulations Relating to Dividend Distribution

The principal law governing dividend distributions by VIWO’s PRC Subsidiaries is the PRC Company Law, while the dividend distribution by wholly foreign-owned enterprises ( “WFOE”) is further governed by Foreign Investment Law and its implementation regulations. According to the above laws and regulations, Chinese companies (including foreign-owned enterprises) may only pay dividends based on the accumulated profits calculated in accordance with PRC accounting principles.

In addition, in accordance with the PRC Company Law, when a company distributes their after-tax profits for a given year, they shall allocate 10% of after-tax its profits to their statutory common reserve. Companies shall no longer be required to make allocations to their statutory common reserve once the aggregate amount of such reserve exceeds 50% of their registered capital unless the provisions of laws regarding foreign investment otherwise provided. If a company’s statutory common reserve is insufficient to make up its losses of the previous years, such losses shall be made up from the profit for the current year prior to making allocations to the statutory common reserve pursuant to the preceding paragraph. Such reserved cash cannot be distributed as cash dividends.

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<div align='center'>DIRECTORS, EXECUTIVE OFFICERS, EXECUT