Company: FVN
Filing Date: 2025-05-02
Form Type: S-4
Source: 0001829126-25-003304
Chunk: 281

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-02
Form: S-4
Chunk 281
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 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 three months ended December 31, 2024 was RMB 32.2 million (USD 4.5 million), an increase of RMB 17.2 million or 114.7% from the RMB 15.0 million for the three months ended December 31, 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 three months ended December 31, 2023 and 2024:

|                               |     | For the three months ended December 31, |             |   |     |         |       |   |     |      |             |   |     |         |       |   |     |          |            |   |     |   |       |    |
|                               |     |                                    2023 |             |   |     |         |       |   |     | 2024 |             |   |     |         |       |   |     | Variance |            |   |     |   |       |    |
|                               |     |                                    -RMB |             |   |     | % of    
 cost of 
 revenue |       |   |     | -RMB |             |   |     | % of    
 cost of 
 revenue |       |   |     | Amount   |            |   |     | % |       |    |
| Cost of revenue               |     |                                         |             |   |     |         |       |   |     |      |             |   |     |         |       |   |     |          |            |   |     |   |       |    |
| Martech services              |     |                                         | (36,753,118 | ) |     |         |  71.9 | % |     |      | (29,721,266 | ) |     |         |  58.3 | % |     |          |  7,031,852 |   |     |   | (19.1 | )% |
| Software development services |     |                                         | (14,364,936 | ) |     |         |  28.