Company: FVN
Filing Date: 2025-01-07
Form Type: DRS/A
Source: 0001829126-25-000092
Chunk: 269

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-01-07
Form: DRS/A
Chunk 269
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 30, 2023.

For the year ended September 30, 2024, our operating expenses were RMB 72.9 million (USD 10.4 million), a decrease of RMB 14.8 million or 16.8% from the RMB 87.7 million for the year ended September 30, 2023.

For the year ended September 30, 2024, our net income was RMB 19.2 million (USD 2.7 million), an increase of RMB 17.7 million or 1,138.4% from our net income of RMB 1.6 million as of September 30, 2023.

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Key Factors that Affect Operating Results

We believe the following key factors may affect our financial condition and results of operations:

Market demand and competition

Our financial performance largely depends on the demand in the Intelligent digital technology markets. The changes in market demand depend on the interaction of various factors, including the global economic climate and China’s social, economic, and market conditions.

The competition in China’s streaming media and advertising industry is very fierce. Although we are a leader in the Chinese industry, especially in the Intelligent digital technology services market, we may face competition from existing competitors or market newcomers who may be able to provide higher quality services at lower prices. If we are unable to maintain or enhance our competitiveness in the industry, it may lead to a decrease in gross profit margin and a loss of market share, which may have an adverse impact on our profitability and business performance.

Our ability to acquire and retain customers

The corporate clients we serve are relatively unique. We do not directly target individual consumers. Therefore, we will not promote our services on mass media such as television or radio advertisements. Most of our customer base directly contacts us through recommendations, reputation, and online search. We participated in exhibitions to showcase our technology and general brand promotion capabilities, and we did not engage in any sales driven marketing activities to attract new customers.

Difficulty in retaining and recruiting Intelligent digital technology and other skilled workers

Our operating subsidiary relies on a skilled R&D team, including programmers in the fields of artificial intelligence, digital technology, gaming, and advertising. Recruiting these skilled professionals is challenging. We cannot determine whether our operating subsidiary can retain existing employees and other skilled workers and recruit more qualified professionals to support future operations and growth. Any failure to do so may have a negative impact on business and future growth. The number