Company: FVN
Filing Date: 2025-04-14
Form Type: DRS/A
Source: 0001829126-25-002616
Chunk: 554

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-04-14
Form: DRS/A
Chunk 554
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 maintained at financial institutions in Hong Kong, of which nil was subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.

Most of the Company’s expense transactions are denominated in RMB and a significant portion of the Company and its subsidiaries’ assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, certain foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China (“PBOC”). Remittances in currencies other than RMB by the Company in China must be processed through the PBOC or other China foreign exchange regulatory bodies which require certain supporting documentation to affect the remittance.

To the extent that the Company needs to convert U.S. dollars into RMB for capital expenditures and working capital and other business purposes, appreciation of RMB against U.S. dollar would have an adverse effect on the RMB amount the Company would receive from the conversion. Conversely, if the Company decides to convert RMB into U.S. dollar for the purpose of making payments for dividends, strategic acquisition or investments or other business purposes, appreciation of U.S. dollar against RMB would have a negative effect on the U.S. dollar amount available to the Company.

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.

For the year ended September 30, 2023, one vendor accounted for 19% of the Company’s total purchases. For the year ended September 30, 2024, four vendors accounted for 22%, 17%, 15% and 15% of the Company’s total purchases, respectively.

As of September 30, 2023, four vendors accounted for 54%, 13%, 11% and 10% of the Company’s accounts payable, respectively. As of September 30, 2024, three vendors