Company: FVN
Filing Date: 2025-02-14
Form Type: DRS/A
Source: 0001829126-25-000945
Chunk: 284

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-02-14
Form: DRS/A
Chunk 284
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 the year ended September 30, 2023 to RMB 3.5 million, for the year ended September 30, 2024.

As a result of the foregoing, we reported a net profit of RMB 1.6 million for the year ended September 30, 2023, as compared to a net profit of RMB 19.2million for the year ended September 30, 2024.

Foreign currency translation adjustment amounted to RMB (5,985) and RMB (262,603) for the years ended September 30, 2023 and 2024, respectively. The balance sheet amounts, with the exception of equity, on September 30, 2024 were translated at $1.00 to RMB 7.0074, as compared to $1.00 to RMB 7.1798 on September 30, 2023. The equity accounts were stated at their historical rate. The average translation rates applied to the income statements accounts for the year ended September 30, 2024 was $1.00 to RMB 7.1177. The change in the value of the U.S. dollar relative to the RMB may affect our financial results reported in RMB terms without giving effect to any underlying change in our business or results of operation.

Liquidity and Capital Resources

To date, we have financed our operations primarily through cash flows from operations and loans from banks and related parties, if necessary. We plan to support our future operations primarily from cash generated from our operations and the business combination proceeds.

As reflected in our audited consolidated financial statements, we had net profit of RMB 1.6 million for the year ended September 30, 2023, as compared to net profit of RMB 19.2 million for the year ended September 30, 2024. As of September 30, 2023, we had cash and cash equivalents in aggregate of RMB 73.2 million compared to RMB 68.3 million as of September 30, 2024. We had working capital that amounted to RMB 79.2 million and RMB 75.1 million as of September 30, 2023 and 2024, respectively. Our working capital requirements are influenced by the size of our operations, the volume and value of our client contracts, and the timing for collecting accounts receivable, and repayment of accounts payable.

We believe that our current cash and cash