Company: FVN
Filing Date: 2025-03-10
Form Type: DRS/A
Source: 0001829126-25-001610
Chunk: 565

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-10
Form: DRS/A
Chunk 565
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 the Martech Services,the Company’s
performance obligation is to help customers to accurately match consumers and traffic users, and thereby increasing the conversion rate
of product sale using intelligent and data-driven technologies. Revenue is recognized at a point in time when the related services have been delivered based on the specific terms of the contract, which are commonly based on specific action (i.e. cost per Mille impression (“CPM”) for online display.)

<div align='center'>F-55</div>

The Company enters advertising contracts with advertisers where the amounts charged per specific action are fixed and determinable, the specific terms of the contracts were agreed on by the Company, and the advertisers. Revenue is recognized on a CPM basis as impressions.

(ii)
Software development services

The Company also offers Software development services based on customers’ specific needs. The contract is typically fixed priced and does not provide any post-contract customer support or upgrades. The Company’s performance obligation is to design, develop, test and install the related software for customers, all of which are considered one performance obligation as the customers do not obtain benefit for each separate service.

The duration of the development period is generally short, usually less than one month. Therefore, the Company’s Software development service revenue is recognized at a point in time when the software product has been delivered to and accepted by customers.

The contract liability represents the billings or cash received for services in advance of revenue recognition which is recognized as revenue when all the Company’s revenue recognition criteria are met. The Company’s contract liabilities amounted to RMB 1,176,621 and RMB 1,454,125 as of September 30, 2024 and December 31, 2024, respectively. The Company expects to recognize this balance as revenue over the next 12 months.

Cost
of revenue for Martech Services comprised of costs paid to channel distributors based on the sales agreements.

For
Software development services, the cost of revenue consists primarily of the third-party software development costs.

The
Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share”. ASC 260 requires
companies to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average ordinary shares outstanding
for the period. Diluted EPS presents the dilutive effect on a per share basis of the potential ordinary shares (e.g., convertible securities,
options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential