Company: FVN
Filing Date: 2025-02-14
Form Type: DRS/A
Source: 0001829126-25-000945
Chunk: 102

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-02-14
Form: DRS/A
Chunk 102
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 offering at a foreign stock exchange. However, given the Cybersecurity Review Measures were relatively new, there are substantial uncertainties as to the interpretation, application and enforcement of the Cybersecurity Review Measures. It remains uncertain whether we should apply for cybersecurity review prior to any offshore offering and that we would be able to complete the applicable cybersecurity review procedures in a timely manner, or at all, if we are required to do so. In addition, on September 14, 2024, the State Council released the Administration Regulations on Network Data Security and will become effective on January 1, 2025, which provides that network data handlers carry out network data processing activities that affect or may affect national security, shall undergo a national security review in accordance with relevant national regulations.

Since the Administration Regulations on Network Data Security is relativity new, the implementation and interpretation are not yet clear. There are uncertainties about how such regulations will affect VIWO and its listing on Nasdaq. In the event that the Cyberspace Administration of China determines that VIWO is subject to these regulations, VIWO may be required to be delisted from Nasdaq and VIWO may be subject to fines and penalties.

VIWO cannot assure you that PRC regulatory agencies, including the CAC, would take the same view as VIWO does, and there is no assurance that VIWO can fully or timely comply with such laws. In the event that VIWO is subject to any mandatory cybersecurity review and other specific actions required by the CAC, VIWO faces uncertainty as to whether any clearance or other required actions can be timely completed, or at all. Given such uncertainty, VIWO may be further required to suspend VIWO’s relevant business, shut down VIWO’s website, or face other penalties, which could materially and adversely affect its business, financial condition, and results of operations.

VIWO, its subsidiaries have a limited customer base and depend on a small number of customers for a significant portion of revenues which may result in heightened concentration risk.

Due to the nature of VIWO’s business and its limited operating history, VIWO, its subsidiaries have a limited customer base and have depended on a small number of customers for a significant portion of revenues. For the year ended September 30, 2023, one customer accounted for 13% of the Company’s total revenues. For the year ended September 30, 2024, three customers accounted for 21%, 15% and 14% of the Company’s total revenues, respectively.

As of September 30,