Company: FVN
Filing Date: 2025-05-02
Form Type: S-4
Source: 0001829126-25-003304
Chunk: 288

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-02
Form: S-4
Chunk 288
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 service costs. Our general and administrative expenses decreased by RMB 2.1 million, or 28.0%, from RMB 7.6 million, for the year ended September 30, 2023 to RMB 5.4 million, for the year ended September 30, 2024, which was mainly due to the reverse of bad debt allowance. We expect our general and administrative expenses, including, but not limited to, staff costs, to increase in the foreseeable future, as our business further grows. We expect our amortization of operating lease right-of-use assets to remain consistent unless we need to further expand our office spaces due to the expansion of our business. We expect our legal and professional fees for legal, audit, and consulting services will increase as we will incur audit, legal and advisory fees for the business combination.

Our research and development expenses mainly represented salaries and other compensation-related expenses to the Company’s research and product development personnel, as well as office rental, depreciation and related expenses for the Company’s research and product development team, and outsourced subcontractors’ expenses. Our research and development expenses decreased by RMB 13.0 million, or 16.6%, from RMB 78.4 million, for the year ended September 30, 2023 to RMB 65.4 million, for the year ended September 30, 2024, which was mainly due to the slowdown in the progress of outsourced technical development services.

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Other income

Other income mainly represents Income from short-term investment.

Income from finance income primarily related to the bank interest settlement of the income from purchasing wealth management products. Our operating subsidiaries received income from short-term investment totaling RMB 0.3 million and RMB 1.2 million (USD 0.2 million) for the years ended September 30, 2023 and 2024, respectively, and recognized as other income when they were received because they were not subject to any past or future conditions.

Finance expenses primarily related to interest expense on loans. Our operating subsidiaries accrued finance expenses totaling RMB 0.2 million and RMB 0.5 million (USD 0.07 million) for the years ended September 30, 2023 and 2024, respectively.

Provision for income taxes

Our operating subsidiaries are subject to income taxes within PRC at the applicable tax rate on taxable income. Our income tax expenses increase RMB 3.4 million