Company: VSA
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109735
Chunk: 66

Company: VisionSys AI Inc
Filing Date: 2025-11-13
Form: 424B5
Chunk 66
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 rates could have a material adverse effect on our results of operations and the value of your investment.

The conversion of Renminbi into foreign currencies,
including U.S. dollars, is based on rates set by the People’s Bank of China and by the Board of Governors of the Federal Reserve
System. The value of Renminbi against the U.S. dollar and other currencies is affected by changes in China’s political and economic
conditions and by China’s foreign exchange policies, among other things. The RMB has fluctuated against the U.S. dollar, at times
significantly and unpredictably. It is difficult to predict how market forces or PRC or U.S. government policy may impact the exchange
rate between the RMB and the U.S. dollar in the future.

Significant revaluation of the RMB may have a
material and adverse effect on your investment. For example, to the extent that we need to convert U.S. dollars into RMB for capital expenditures
and working capital and other business purposes, appreciation of the RMB against the U.S. dollar would have an adverse effect on the RMB
amount we would receive from the conversion. Conversely, if we decide to convert our RMB into U.S. dollars for the purpose of making payments
for dividends on our ordinary shares or ADSs or for other business purposes, appreciation of the U.S. dollar against the RMB would have
a negative effect on the U.S. dollar amount available to us. In addition, appreciation or depreciation in the value of the RMB relative
to U.S. dollars would affect the U.S. dollar equivalent of our earnings, regardless of any underlying change in our business or results
of operations.

We have not entered into any foreign currency
forward contract since 2017. Due to the fluctuation in the exchange rate between U.S. dollars and RMB, we may decide to enter into additional
foreign currency contracts in the future, the availability and effectiveness of these hedges may be limited and we may not be able to
adequately hedge our exposure or at all. In addition, our currency exchange losses may be magnified by exchange control regulations of
mainland China that restrict our ability to convert Renminbi into foreign currency. As a result, fluctuations in exchange rates may have
a material adverse effect on your investment.

<div align='center'>S-38</div>

Uncertainties exist with respect to the interpretation and implementation of the PRC Foreign Investment Law and its implementation regulations and