Company: VSA
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001410578-25-001300
Chunk: 2

Company: VisionSys AI Inc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 3
Chunk 2
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 shareholders of the variable interest entities are directors and members of our management body. We consider such people suitable to act as the nominee shareholders of the variable interest entities because of, among other considerations, their contribution to us, their competence, and their length of service with and loyalty to us. For more details of these contractual arrangements, see “Item 4. Information on the Company—A. History and Development of the Company.”
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The following diagram illustrates our corporate structure, including our principal subsidiaries, the principal VIEs and other entities that are material to our business, as of the date of this annual report:
Notes:

(1)   Shaoyun Han, our founder and chairman, owns 70% of the equity interest in Beijing Tongcheng. Mr. Jin Li, a member of our management body, owns 30% of the equity interest in Beijing Tongcheng. On June 5, 2024, Banyan Enterprises Limited, or Banyan, and Banyan Enterprises A Limited, or Banyan A, filed for asset preservation at the Hong Kong International Arbitration Centre, or the HKIAC. This action stemmed from disputes related the share transfer agreement dated December 7, 2018, entered in to by and among Mr. Han Shaoyun and his wholly owned company, Techedu Limited, or Techedu, and Banyan and Banyan A, concerning the equity interest in Tarena International, Inc., or Tarena International, held by Techedu. As part of the asset preservation measures, Mr. Shaoyun Han’s 70% equity interest in Beijing Tongcheng was frozen. According to the Civil Ruling No. (2024) Jing 04 Cai Bao 77 issued by the Fourth Intermediate People’s Court of Beijing, along with the asset preservation notice (Case No. (2024) Jing 04 Zhi Bao 172), and with the assistance of the Haidian District Market Supervision Administration of Beijing, such equity interest has been frozen from September 19, 2024 to September 18, 2027.
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(2)   Wenwei Jia is the principal of Tongcheng Technology Education Co., Ltd.; Jiping Xing is the principal of Jinan Lixia Tongcheng Tongmei Training School Co., Ltd. and Zibo Tongcheng Tongmei Training