Company: FVN
Filing Date: 2025-01-07
Form Type: DRS/A
Source: 0001829126-25-000092
Chunk: 543

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-01-07
Form: DRS/A
Chunk 543
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 |     |       |         |     |       |        |
| Lease liabilities - current             |     |       | 127,135 |     |       | 18,143 |
| Lease liabilities - non current         |     |       |       - |     |       |      - |
| Total lease liabilities                 |     |       | 127,135 |     |       | 18,143 |

Operating lease liabilities are based on the net present value of the remaining lease payments over the remaining lease term. In determining the present value of lease payments, the Company used its incremental borrowing rate based on the information available at the lease commencement date. As of September 30, 2024, the weighted average remaining lease term is 6.4 months, and the weighted average discount rate used to determine the operating lease liabilities is 3.77%.

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Note 13 — Shareholders’ equity

Ordinary shares

The Company was established under the laws, of Cayman Islands on June 27, 2023, with authorized share of 1,000,000,000 ordinary shares of par value USD.0.00005 each.

The Company issued 55,000,000 and 45,000,000 ordinary shares of par value USD 0.00005 to its original shareholders on June 27, 2023 and December 1, 2023, respectively.

Statutory reserve

VIWO PRC entities are required to set aside at least 10% of their after-tax profits each year, if any, to fund certain statutory reserve funds until such reserve funds reach 50% of its registered capital. In addition, VIWO PRC entities may allocate a portion of its after-tax profits based on PRC accounting standards to enterprise expansion fund and staff bonus and welfare fund at its discretion. VIWO PRC entities may allocate a portion of its after-tax profits based on PRC accounting standards to a discretionary surplus fund at its discretion. The statutory reserve funds and the discretionary funds are not distributable as cash dividends. Remittance of dividends by a wholly foreign-owned company out of China is subject to examination by the banks designated by State Administration of Foreign Exchange. As of September 30, 2023 and 2024, VIWO PRC entities collectively attributed RMB 353,467 and RMB 2,459,161 (USD 350,938) to statutory reserves, respectively.

Restricted assets

The Company’s ability to pay dividends