Company: FVN
Filing Date: 2025-03-10
Form Type: DRS/A
Source: 0001829126-25-001610
Chunk: 281

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-10
Form: DRS/A
Chunk 281
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. Our general and
administrative expenses increased by RMB 3.1 million, or 919.9%, from RMB (0.3) million for the three months ended December 31, 2023
to RMB 2.8 million, for the three months ended December 31, 2024, which was mainly due to the reverse of bad debt allowance in 2023.
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 3.9 million, or 23.0%, from RMB
17.1 million, for the three months ended December 31, 2023 to RMB 13.2 million, for the three months ended December 31, 2024, which was
mainly due to the slowdown in the progress of outsourced technical development services.

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 1.5 million
or 939.0%, from RMB 0.2 million, for the three months ended December 31, 2023 to RMB 1.6 million, for the three months ended December
31, 2024.

As a result of the foregoing,
we reported a net profit of RMB 2.2 million for the three months ended December 31, 2023, as compared to a net profit of RMB 7.3 million
for the three months ended December 31, 2024.

Foreign currency translation
adjustment amounted to RMB (6,051) and RMB (467,860) for the three months ended December 31, 2023 and 2024, respectively. The balance