Company: VSA
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109735
Chunk: 60

Company: VisionSys AI Inc
Filing Date: 2025-11-13
Form: 424B5
Chunk 60
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. This may restrict our ability to implement
our acquisition strategy and could adversely affect our business and prospects.

<div align='center'>S-34</div>

Failure to comply with regulations of mainland China regarding the registration requirements for employee share ownership plans or share option plans may subject the mainland China plan participants or us to fines and other legal or administrative sanctions.

In February 2012, SAFE promulgated the Notices
on Issues Concerning the Foreign Exchange Administration for Domestic Individuals Participating in Stock Incentive Plans of Overseas Publicly
Listed Companies, or the Stock Option Rules. Under the Stock Option Rules and other rules and regulations, mainland China residents who
participate in a stock incentive plan in an overseas publicly listed company are required to register with the SAFE or its local branch
and complete certain other procedures. Participants of a stock incentive plan who are mainland China residents must retain a qualified
mainland China agent, which could be a mainland China subsidiary of the overseas publicly listed company or another qualified institution
selected by the mainland China subsidiary, to conduct the SAFE registration and other procedures with respect to the stock incentive plan
on behalf of its participants. The participants must also retain an overseas entrusted institution to handle matters in connection with
their exercise of stock options, the purchase and sale of corresponding stocks or interests and fund transfers. In addition, the mainland
China agent is required to amend the SAFE registration with respect to the stock incentive plan if there is any material change to the
stock incentive plan, the mainland China agent or the overseas entrusted institution or other material changes. See “Item 4. Information
on the Company-B. Business Overview-Government Regulations-Regulations on Stock Incentive Plans.” We and our mainland China employees
who have been granted share options and restricted share units are subject to these regulations and we have completed the registrations
of our stock incentive plans with the local SAFE as required by laws of mainland China. Failure of our mainland China share option holders
or restricted shareholders to complete their SAFE registrations may subject these mainland China residents to fines and legal sanctions
and may also limit our ability to contribute additional capital into our subsidiaries in mainland China, limit our mainland China subsidiaries’
ability to distribute dividends to us, or otherwise materially and adversely affect our business.

Regulation of direct investment and loans by offshore holding companies to mainland China entities and governmental control of currency conversion may delay or limit us from using the proceeds of offshore offerings to make loans to our subsidiaries and the variable interest entities in mainland China, or making