Company: FVN
Filing Date: 2025-05-02
Form Type: S-4
Source: 0001829126-25-003304
Chunk: 104

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-02
Form: S-4
Chunk 104
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operators holding over one million users’ personal information must apply with the Cybersecurity Review Office for a cybersecurity
review before any public offering at a foreign stock exchange. In addition, on September 14, 2024, the State Council released the Administration
Regulations on Network Data Security and effected on January 1, 2025, which provides that network data handlers carry out network data
processing activities that affect or may affect national security, shall undergo a national security review in accordance with relevant
national regulations.

In the event that the Cyberspace Administration of China determines that VIWO is subject to these regulations, VIWO may be required to
be delisted from Nasdaq and VIWO may be subject to fines and penalties.

VIWO cannot assure you that PRC regulatory agencies, including the CAC, would take the same view as VIWO does, and there is no assurance
that VIWO can fully or timely comply with such laws. In the event that VIWO is subject to any cybersecurity review and other specific
actions required by the CAC, VIWO faces uncertainty as to whether any clearance or other required actions can be timely completed, or
at all. Given such uncertainty, VIWO may be further required to suspend VIWO’s relevant business, shut down VIWO’s website,
or face other penalties, which could materially and adversely affect its business, financial condition, and results of operations.

VIWO, its subsidiaries have a limited customer base and depend on a small number of customers for a significant portion of revenues which may result in heightened concentration risk.

Due to the nature of VIWO’s business and its limited operating history, VIWO, its subsidiaries have a limited customer base and have depended on a small number of customers for a significant portion of revenues. For the year ended September 30, 2023, one customer accounted for 13% of the Company’s total revenues. For the year ended September 30, 2024, three customers accounted for 21%, 15% and 14% of the Company’s total revenues, respectively.

As of September 30, 2023, two customers accounted for 58% and 40% of the Company’s accounts receivable, respectively. As of September 30, 2024, three customers accounted for 39%, 36% and 25% of the Company’s accounts receivable, respectively.

VIWO’s ability to maintain close relationships with its top customers is essential to the growth and profitability of VIWO’s business. If