Company: VSA
Filing Date: 2025-10-10
Form Type: 424B3
Source: 0001193805-25-001433
Chunk: 34

Company: VisionSys AI Inc
Filing Date: 2025-10-10
Form: 424B3
Chunk 34
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 required under applicable law in connection with its role as Depositary under the Deposit Agreement. At any time after
the Termination Date, the Depositary may sell the Deposited Property then held under the Deposit Agreement and shall after such sale hold
un-invested the net proceeds of such sale, together with any other cash then held by it under the Deposit Agreement, in an un-segregated
account and without liability for interest, for the pro rata benefit of the Holders whose ADSs have not theretofore been surrendered.
After making such sale, the Depositary shall be discharged from all obligations under the Deposit Agreement except (i) to account for
such net proceeds and other cash (after deducting, or charging, as the case may be, in each case, the fees and charges of, and expenses
incurred by, the Depositary, and all applicable taxes or governmental charges for the account of the Holders and Beneficial Owners, in
each case upon the terms set forth in Section 5.9 of the Deposit Agreement), and (ii) as may be required at law in connection with the
termination of the Deposit Agreement. After the Termination Date, the Company shall be discharged from all obligations under the Deposit
Agreement, except for its obligations to the Depositary under Sections 5.8, 5.9 and 7.6 of the Deposit Agreement. The obligations under
the terms of the Deposit Agreement of Holders and Beneficial Owners of ADSs outstanding as of the Termination Date shall survive the Termination
Date and shall be discharged only when the applicable ADSs are presented by their Holders to the Depositary for cancellation under the
terms of the Deposit Agreement.

(25) Compliance with U.S. Securities Laws. Notwithstanding any provisions in this ADR or the Deposit Agreement to the contrary,
the withdrawal or delivery of Deposited Securities will not be suspended by the Company or the Depositary except as would be permitted
by Instruction I.A.(1) of the General Instructions to the Form F-6 Registration Statement, as amended from time to time, under the Securities
Act.

(26) Certain Rights of the Depositary. The Depositary, its Affiliates and their agents, on their own behalf, may own and
deal in any class of securities of the Company and its Affiliates and in ADSs.

<div align='center'>(ASSIGNMENT AND TRANSFER SIGNATURE LINES)</div>

FOR VALUE RECEIVED, the unders