Company: FVN
Filing Date: 2025-03-27
Form Type: DRS/A
Source: 0001829126-25-002094
Chunk: 128

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-27
Form: DRS/A
Chunk 128
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 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 registration or filing, VIWO’s ability to use the proceeds it receives from VIWO’s offshore financing activities and to capitalize VIWO’s PRC operations may be negatively affected, which could adversely affect VIWO’s liquidity and ability to fund and expand its business. There is, in effect, no statutory limit on the amount of capital contribution that VIWO can make to its PRC subsidiaries. This is because there is no statutory limit on the amount of registered capital for VIWO’s PRC subsidiaries, and VIWO is allowed to make capital contributions to VIWO’s PRC subsidiaries by subscribing for their initial registered capital and increased registered capital, provided that the PRC subsidiaries complete the relevant filing and registration procedures.

With respect to loans to the VIWO’s PRC subsidiaries by VIWO, (i) if the PRC subsidiaries adopt the traditional foreign exchange administration mechanism, or the Current Foreign Debt Mechanism, the outstanding amount of the loans shall not exceed the difference between the total investment and the registered capital of the PRC subsidiaries; and (ii) if the PRC subsidiaries adopt the foreign exchange administration mechanism as provided in Notice of the People’s Bank of China on Matters concerning the Macro-Prudential Management of Full-Covered Cross-Border Financing, or the PBOC Notice No. 9, the risk-weighted outstanding amount of the loans, which shall be calculated based on the formula provided in PBOC Notice No. 9, shall not exceed 200% of the net asset of the PRC subsidiaries. According to the PBOC Notice No. 9, after a transition period of one year since the promulgation of PBOC Notice No. 9, the PBOC and SAFE will determine the cross-border financing administration mechanism for the foreign-invested enterprises after evaluating the overall implementation of PBOC Notice No. 9. As of