Company: VSA
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109735
Chunk: 75

Company: VisionSys AI Inc
Filing Date: 2025-11-13
Form: 424B5
Chunk 75
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 business conditions may result
in application of the proceeds of this offering in a manner other than as described in this prospectus supplement.

To the extent that the net proceeds we receive
from this offering are not immediately applied for the above purposes, we plan to invest the net proceeds in bank deposits.

In utilizing the proceeds from this offering,
as an offshore holding company, we are permitted under PRC laws and regulations to provide funding to our PRC subsidiaries only through
loans or capital contributions and to the affiliated entities only through loans, subject to applicable government registration and approvals.
Subject to satisfaction of applicable government reporting, registration and approval requirements, we may extend intercompany loans to
our wholly foreign-owned subsidiary in mainland China or make additional capital contributions to our wholly-foreign-owned subsidiary
to fund its capital expenditures or working capital. For an increase of registered capital of our wholly foreign-owned subsidiary, we
need to submit a report of such modification information to the Ministry of Commerce or its local counterparts through the Enterprise
Registration System. If we provide funding to our wholly foreign-owned subsidiary through loans, the total amount of such loans may not
exceed either (1) the difference between the entity’s total investment as approved by the foreign investment authorities and
its registered capital, or (2) such amount as calculated based on certain benchmarks, including capital or net assets and the cross-border
financing leverage ratio. Such loans must be registered with local counterpart of SAFE within 15 days immediately following the execution
of the loan agreement as required by the SAFE regulations. We cannot assure you that we will be able to obtain these government registrations
or approvals on a timely basis, if at all. Any failure will delay or prevent us from applying the net proceeds from this offering to our
PRC subsidiary and affiliated entities. See “Risk Factors—Risks Related to Doing Business in China—PRC regulation of
loans to and direct investment in PRC entities by offshore holding companies and governmental control of currency conversion may delay
or prevent us from using the proceeds of this offering to make loans to or make additional capital contributions to our PRC subsidiary,
which could materially and adversely affect our liquidity and our ability to fund and expand our business”.

<div align='center'>S-43

DIVIDEND POLICY</div>

We have not declared or paid any dividends. We
do not have any present plans to pay any cash dividends on our ordinary shares or the ADSs in the foreseeable future after this offering.
We currently intend to retain most, if