Company: VSA
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109735
Chunk: 18

Company: VisionSys AI Inc
Filing Date: 2025-11-13
Form: 424B5
Chunk 18
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 to 
 meet those projections;                                                                                                              |

| ● | variations                                     
 in our net revenues, net income and cash flow; |

| ● | announcements                                                                
 of new investments, acquisitions, strategic partnerships, or joint ventures; |

| ● | announcements                                            
 of new services and expansions by us or our competitors; |

| ● | changes                                        
 in financial estimates by securities analysts; |

| ● | additions                       
 or departures of key personnel; |

| ● | release                                                                                                                  
 of lock-up or other transfer restrictions on our outstanding equity securities or sales of additional equity securities; |

| ● | potential                                                                          
 litigation, regulatory investigations or other legal proceedings involving us; and |

| ● | detrimental                                  
 negative publicity about us or our industry. |

Any of these factors may result in large and sudden
changes in the volume and price at which our ADSs will trade.

If we fail to meet Nasdaq’s minimum bid price or minimum market value of publicly held shares requirements, our ADSs could be subject to delisting, which may significantly reduce the liquidity of our ADSs and cause further declines to the market price of our ADSs.

Our ADSs were previously listed on the Nasdaq
Global Select Market and we transferred the listing of our ADSs from the Nasdaq Global Select Market to Nasdaq Capital Market in November
2023. The Nasdaq Listing Rules have minimum requirements that a company must meet for continued listing on Nasdaq Global Select Market
and Nasdaq Capital Market.

The requirements for continued listing when our
ADSs were listed on the Nasdaq Global Select Market include maintaining a minimum closing bid price of US$1.00 per ADS and a minimum Market
Value of Publicly Held Shares, or MVPHS, of US$15 million for a period of 30 consecutive trading days. On December 10, 2021 and January
20, 2022, we received written notifications from Nasdaq advising us that (i) our ADS had been trading at a price that would subject our
ADSs to delisting if we fail to regain compliance with the Nasdaq minimum bid price requirement by June 8, 2022 and that (ii) we no longer
meet the minimum MVPHS requirement for the Nasdaq Global Select Market and were granted a grace period of 180 calendar days, expiring
on July 19, 2022, to regain compliance, respectively. We regained compliance with (i) the Nasdaq minimum bid price requirement by changing
the ratio of our ADS to