Company: VSA
Filing Date: 2025-09-19
Form Type: 424B3
Source: 0001193805-25-001308
Chunk: 21

Company: VisionSys AI Inc
Filing Date: 2025-09-19
Form: 424B3
Chunk 21
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 (i) unless and until a registration
statement under the Securities Act (or other applicable law) covering such offering is in effect or (ii) unless the Company furnishes
the Depositary opinion(s) of counsel for the Company in the United States and counsel to the Company in any other applicable country in
which rights would be distributed, in each case reasonably satisfactory to the Depositary, to the effect that the offering and sale of
such securities to Holders and Beneficial Owners are exempt from, or do not require registration under, the provisions of the Securities
Act or any other applicable laws.

In the event that the Company, the Depositary or
the Custodian shall be required to withhold and does withhold from any distribution of Deposited Property (including rights) an amount
on account of taxes or other governmental charges, the amount distributed to the Holders of ADSs shall be reduced accordingly. In the
event that the Depositary determines that any distribution of Deposited Property (including Shares and rights to subscribe therefor) is
subject to any tax or other governmental charges which the Depositary is obligated to withhold, the Depositary may dispose of all or a
portion of such Deposited Property (including Shares and rights to subscribe therefor) in such amounts and in such manner, including by
public or private sale, as the Depositary deems necessary and practicable to pay any such taxes or charges.

<div align='center'>A-15</div>

There can be no assurance that Holders generally,
or any Holder in particular, will be given the opportunity to receive or exercise rights on the same terms and conditions as the holders
of Shares or be able to exercise such rights. Nothing herein shall obligate the Company to file any registration statement in respect
of any rights or Shares or other securities to be acquired upon the exercise of such rights.

Whenever the Company intends to distribute to the
holders of Deposited Securities property other than cash, Shares or rights to purchase additional Shares, the Company shall give timely
notice thereof to the Depositary and shall indicate whether or not it wishes such distribution to be made to Holders of ADSs. Upon receipt
of a notice indicating that the Company wishes such distribution be made to Holders of ADSs, the Depositary shall consult with the Company,
and the Company shall assist the Depositary, to determine whether such distribution to Holders is lawful and practicable. The Depositary
shall not make such distribution unless (i) the Company shall have requested the Depositary