Company: FVN
Filing Date: 2025-01-07
Form Type: DRS/A
Source: 0001829126-25-000092
Chunk: 121

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-01-07
Form: DRS/A
Chunk 121
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 direct or indirect interest of VIWO, nor can VIWO compel its shareholders to comply with the requirements of SAFE Circular 37. As a result, VIWO cannot assure you that all of its shareholders who are PRC residents or entities have complied with, and will in the future make or obtain any applicable registrations or approvals required by, SAFE Circular 37. Failure by such shareholders to comply with SAFE Circular 37, or failure by VIWO to amend the foreign exchange registrations of its PRC subsidiaries, could subject VIWO to fines or legal sanctions, restrict VIWO’s overseas or cross-border investment activities, limit VIWO’s PRC subsidiaries’ ability to make distributions or pay dividends to VIWO or affect VIWO’s ownership structure, which could adversely affect VIWO’s business and prospects.

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PRC regulation of loans to and direct investment in PRC entities by offshore holding companies and governmental control of currency conversion may delay or prevent VIWO from using the proceeds it receives from offshore financing activities to make loans to or make additional capital contributions to VIWO’s PRC subsidiaries, which could materially and adversely affect VIWO’s liquidity and its ability to fund and expand business.

Any transfer of funds by VIWO to its PRC subsidiaries, either as a shareholder loan or as an increase in registered capital, is subject to approval by or registration or filing with relevant governmental authorities in China. According to the relevant PRC regulations on foreign-invested enterprises in China, capital contributions to VIWO’s PRC subsidiaries are subject to registration with a local bank authorized by SAFE. In addition, (i) any foreign loan procured by VIWO’s PRC subsidiaries is required to be registered with SAFE or its local branches or filed with SAFE in its information system; and (ii) VIWO’s PRC subsidiaries may not procure loans which exceed the difference between their total investment amount and registered capital or, as an alternative, only procure loans subject to the calculation approach and limitation as provided in the People’s Bank of China Notice No. 9 (“PBOC Notice No. 9”). Any medium- or long-term loan to be provided by VIWO to the subsidiaries must be registered with the National Development and Reform Commission and SAFE or its local branches. VIWO may not be able to obtain these government approvals or complete such registrations on a timely basis, if at all, with respect to future capital contributions or foreign loans by VIWO to its PRC subsidiaries. If VIWO fails to receive such approvals or complete such