Company: FVN
Filing Date: 2025-04-14
Form Type: DRS/A
Source: 0001829126-25-002616
Chunk: 565

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-04-14
Form: DRS/A
Chunk 565
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 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 (268,588) and RMB 199,272 (USD 27,721) as of September 30, 2024 and December 31, 2024, respectively. The balance sheet amounts, with the exception of shareholders’ equity for at September 30, 2024 and December 31, 2024, were translated at USD 1.00 to RMB 7.0074 and to RMB 7.1884, respectively. The average translation rates applied to statement of income accounts for the three months ended December 31, 2023 and 2024 were USD 1.00 to RMB 7.1435 and to RMB 7.1587, 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.

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Translations of balances in the unaudited consolidated balance sheets, unaudited consolidated statements of income and unaudited consolidated statements of cash flows from RMB into USD as of and for the three months ended December 31, 2024 are solely for the convenience of the reader and were calculated at the rate of USD 1.00 to RMB 7.1884, representing the mid-point reference rate set by Peoples’ Bank of China on December 31, 2024. No representation is made that the RMB amounts represent or could have been, or could be, converted, realized or settled into USD at that rate, or at any other rate.

Cash and cash equivalents primarily consists of bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal and use.

The accounting standard regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company.

The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures