Company: FVN
Filing Date: 2025-05-30
Form Type: S-4/A
Source: 0001829126-25-004067
Chunk: 287

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-30
Form: S-4/A
Chunk 287
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 increased by RMB 52.0 million or 18.8%, from RMB 276.6 million for the year ended September 30, 2023 to RMB 328.6 million for the year ended September 30, 2024, primarily because of we have expanded our market share and increased Software development services for enterprise customers. The Martech services revenue for the year ended September 30, 2024 was RMB 219.0 million (USD 31.2 million), a decrease of RMB 42.9 million or 16.4% from the RMB 261.8 million for the year ended September 30, 2023, mainly due to the uncertain global economy and our strategic adjustment. Many enterprises prioritized cutting their digital marketing budgets during periods of uncertain global economy, which results in a decline in customer demand. Moreover, in order to optimize the business structure, we actively adjusted our customer base in 2024, reducing our reliance on some low-quality customers and focusing on high-value customers, which has led to the decline in the revenue of the Martech. The Software development services revenue for the year ended September 30, 2024 was RMB 110.0 million (USD 15.6 million), an increase of RMB 94.9 million or 643.8% from the RMB 14.7 million for the year ended September 30, 2023, primarily because of we increased more Software development services for enterprise customers.

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Cost of revenue

The following table sets forth the breakdown of our cost of revenue for the financial years ended September 30, 2023 and 2024:

|                               |     | For the Years Ended September 30, |              |   |     |         |       |   |     |      |              |   |     |         |       |   |     |          |             |   |     |   |       |    |
|                               |     |                              2023 |              |   |     |         |       |   |     | 2024 |              |   |     |         |       |   |     | Variance |             |   |     |   |       |    |
|                               |     |                              -RMB |              |   |     | % of    
 cost of 
 revenue |       |   |     | -RMB |              |   |     | % of    
 cost of