Company: VSA
Filing Date: 2025-02-18
Form Type: CORRESP
Source: 0001104659-25-014444
Chunk: 3

Company: VisionSys AI Inc
Filing Date: 2025-02-18
Form: CORRESP
Chunk 3
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 the funds necessary to pay dividends and other cash distributions to our shareholders and service any debt we may incur. If these subsidiaries incur debt on their own behalf in the future, the instruments governing the debt may restrict their ability to pay dividends or make other distributions to us. In addition, to the extent cash or assets in the business is in the PRC mainland China or Hong KongPRC mainland China or Hong Kongy, y the PRC mainland China or Hong Kong, , jpaying g
y , gy , , ()g y g y

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Holding Company Structure

We are a holding company with no material operations of our own. We conduct our operations primarily through our subsidiaries and the variable interest entities in mainland China. As a result, our ability to pay dividends depends upon dividends paid by our mainland China subsidiaries and service fees paid by the variable interest entities in mainland China. If our wholly owned subsidiaries or any newly formed subsidiaries incur any debt in the future, the instruments governing their debt may restrict their ability to pay dividends to us. To the extent cash or assets in the business is in the PRCmainland China or Hong KongPRC mainland China or Hong Kongy, y the PRC mainland China or Hong Kongy
g y the PRC mainland China or Hong KongPRC mainland China or Hong Kongy, y PRC mainland China or Hong Kong, , j , y y
In addition, our mainland China subsidiaries and the variable interest entities are required to
make appropriations to certain statutory reserve funds, which are not distributable as cash dividends except in the event of a solvent
liquidation of the companies.

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| 2. | We note your response to prior comment 5 and reissue in part. Acknowledge in the summary risk factors                                    
 that any actions by the Chinese government to exert more oversight and control over offerings that are conducted overseas and/or foreign 
 investment in China-based issuers could significantly limit or completely hinder your ability to offer or continue to offer securities   
 to investors and cause the value of such securities to significantly decline or be worthless.                                            |

In response to the Staff’s comment, the Company respectfully proposes to revise the referenced disclosure as follows (page reference is made to the 2023 Form 20-F to illustrate the approximate location of the disclosure) in its future Form 20-F filings (with deletions shown as strike-through and additions underlined), subject to updates and adjustments to be made in connection with any material development