Company: FVN
Filing Date: 2025-05-30
Form Type: S-4/A
Source: 0001829126-25-004067
Chunk: 285

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-30
Form: S-4/A
Chunk 285
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 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 6.4 million, or 19.5%, from RMB 32.7 million, for the six months ended March 31, 2024 to RMB 26.3 million for the six months ended March 31, 2025, 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 3.3 million or 1,794.8%, from RMB 0.2 million for the six months ended March 31, 2024 to RMB 3.5 million for the six months ended March 31, 2025.

As a result of the foregoing, we reported a net profit of RMB 2.0 million for the six months ended March 31, 2024, as compared to a net profit of RMB 16.7 million for the six months ended March 31, 2025.

Foreign currency translation adjustment amounted to RMB 5,309 and RMB 436,779 for the six months ended March 31, 2024 and 2025, respectively. The balance sheet amounts, with the exception of equity, on March 31, 2025 were translated at $1.00 to RMB 7.1782, as compared to $1.00 to RMB 7.0074 on September 30, 2024. The equity accounts were stated at their historical rate. The average translation rates applied to the income statements accounts for the six months ended March 31, 2025 was $1.00 to RMB 7.1671. The change in the value of the U.S. dollar relative to the RMB may affect our financial results reported in RMB terms without