Company: FVN
Filing Date: 2025-03-27
Form Type: DRS/A
Source: 0001829126-25-002094
Chunk: 539

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-27
Form: DRS/A
Chunk 539
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 consolidation.

The preparation of consolidated
financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements
and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s
consolidated financial statements include the useful lives of property and equipment, allowance for credit loss, impairment for long-lived
assets, provision for contingent liabilities, revenue recognition, right-of-use assets and lease liabilities, deferred taxes and uncertain
tax position. Actual results could differ from these estimates.

The Company uses Renminbi (“RMB”)
as its reporting currency. The functional currency of the Company and its subsidiaries which are incorporated in Hong Kong and PRC are
USD and RMB, respectively, which are their respective local currencies based on the criteria of ASC 830, “Foreign Currency Matters”.

In the consolidated financial
statements, the financial information of the Company and other entities located outside of the PRC has been translated into RMB. Assets
and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange
rates, and revenues, expenses, gains and losses are translated using the average rate for the period.

Translation adjustments included
in accumulated other comprehensive loss amounted to RMB 5,985 and RMB 268,588 (USD 38,329) as of September 30, 2023 and 2024, respectively.
The balance sheet amounts, with the exception of shareholders’ equity for at September 30, 2023 and 2024 were translated at
USD 1.00 to RMB 7.1798 and to RMB 7.0074, respectively. The average translation rates applied to statement of income accounts for the
years ended September 30, 2023 and 2024 were USD 1.00 to RMB 7.0078 and to RMB 7.1177, respectively. The shareholders’ equity
accounts were stated at their historical rate. Cash flows are also translated at average translation rates for the periods, therefore,
amounts reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated
balance sheets.

Translations of balances in
the consolidated balance sheets, consolidated statements of income and consolidated statements of cash flows from RMB into USD as of
and for the year ended September 30,