Company: FVN
Filing Date: 2025-03-27
Form Type: DRS/A
Source: 0001829126-25-002094
Chunk: 129

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-27
Form: DRS/A
Chunk 129
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 the date hereof, neither the PBOC nor SAFE has promulgated and made public any further rules, regulations, notices or circulars in this regard. It is uncertain which mechanism will be adopted by the PBOC and SAFE in the future and what statutory limits will be imposed on VIWO when providing loans to VIWO’s PRC subsidiaries. Currently, VIWO’s PRC subsidiaries have the flexibility to choose between the Current Foreign Debt Mechanism and the Notice No. 9 Foreign Debt Mechanism. However, if a more stringent foreign debt mechanism becomes mandatory, VIWO’s ability to provide loans to VIWO’s PRC subsidiaries or VIWO’s consolidated affiliated entities may be significantly limited, which may adversely affect VIWO’s business, financial condition and results of operations.

The Circular on Reforming the Administration of Foreign Exchange Settlement of Capital of Foreign-Invested Enterprises, or SAFE Circular 19, effective as of June 1, 2015, as amended by Circular of the State Administration of Foreign Exchange on Reforming and Regulating Policies on the Control over Foreign Exchange Settlement under the Capital Account, or SAFE Circular 16, effective on June 9, 2016, allows FIEs to settle their foreign exchange capital at their discretion, but continues to prohibit FIEs from using the Renminbi fund converted from their foreign exchange capitals for expenditure beyond their business scopes, and also prohibit FIEs from using such Renminbi fund to provide loans to persons other than affiliates unless otherwise permitted under its business scope. As a result, VIWO is required to apply Renminbi funds converted from the net proceeds VIWO received from its offshore financing activities within the business scopes of VIWO’s PRC subsidiaries. SAFE Circular 19 and SAFE Circular 16 may significantly limit VIWO’s ability to use Renminbi converted from the net proceeds from VIWO’s offshore financing activities to fund the establishment of new entities in China by their subsidiaries, to invest in or acquire any other PRC companies through VIWO’s PRC subsidiaries, which may adversely affect VIWO’s business, financial condition and results of operations.

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VIWO’s PRC subsidiaries are subject to restrictions on paying dividends or making other payments to VIWO, which may restrict its ability to satisfy liquidity requirements, conduct business and pay dividends to holders of VIWO’s ordinary shares.

VIWO is a holding company incorporated in the Cayman Islands. VIWO relies on dividends from its PRC subsidiaries for VIWO’s cash