Company: FVN
Filing Date: 2025-03-27
Form Type: DRS/A
Source: 0001829126-25-002094
Chunk: 577

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-27
Form: DRS/A
Chunk 577
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 a significant portion of the Company and its subsidiaries’
assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, certain foreign exchange
transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the The People's
Bank of China (“PBOC”). Remittances in currencies other than RMB by the Company in China must be processed through the PBOC
or other China foreign exchange regulatory bodies which require certain supporting documentation to affect the remittance.

To
the extent that the Company needs to convert U.S. dollars into RMB for capital expenditures and working capital and other business purposes,
appreciation of RMB against U.S. dollar would have an adverse effect on the RMB amount the Company would receive from the conversion.
Conversely, if the Company decides to convert RMB into U.S. dollar for the purpose of making payments for dividends, strategic acquisition
or investments or other business purposes, appreciation of U.S. dollar against RMB would have a negative effect on the U.S. dollar amount
available to the Company.

Customer concentration risk

For the three months ended December 31, 2024, four customers accounted for 22%, 16%, 10% and 10% of the Company’s total revenues, respectively. For the three months ended December 31, 2023, three customers accounted for 24%, 14% and 11% of the Company’s total revenues, respectively.

As of December 31, 2024, four customers accounted for 35%, 34%, 20% and 11% of the Company’s accounts receivable, respectively. As of September 30, 2024, three customers accounted for 39%, 36% and 25% of the Company’s accounts receivable, respectively.

Vendor concentration risk

For the three months ended December 31, 2024, five vendors accounted for 23%, 22%, 12%, 10% and 10% of the Company’s total purchases, respectively. For the three months ended December 31, 2023, two vendors accounted for 19% and 19% of the Company’s total purchases, respectively.

As of December 31, 2024, three vendors accounted for 57%, 17% and 11% of the Company’s accounts payable, respectively. As ofSeptember
30, 2024, three vendors accounted for 65%,