Company: VSA
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109735
Chunk: 44

Company: VisionSys AI Inc
Filing Date: 2025-11-13
Form: 424B5
Chunk 44
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 has been uneven, both geographically and among various sectors of the economy, and the rate of growth
has been slowing. Some of the government measures may benefit the overall Chinese economy, but may have a negative effect on us. For example,
our financial condition and results of operations may be adversely affected by government control over capital investments or changes
in tax regulations. Any stimulus measures designed to boost the Chinese economy may contribute to higher inflation, which could adversely
affect our results of operations and financial condition.

<div align='center'>S-25</div>

COVID-19 had a severe and negative impact on the Chinese and the global
economy from 2020 through 2022, and the global macroeconomic environment still faces numerous challenges. The growth rate of the Chinese
economy has been slowing since 2010 and the Chinese population began to decline in 2022. The Federal Reserve and other central banks outside
of China have raised interest rates. The Russia-Ukraine conflict, the Hamas-Israel conflict and the attacks on shipping in the Red Sea
have heightened geopolitical tensions across the world. The impact of the Russia-Ukraine conflict on Ukraine food exports has contributed
to increases in food prices and thus to inflation more generally. There have also been concerns about the relationship between China and
other countries which may potentially have economic effects. In particular, there is significant uncertainty about the future relationship
between the United States and China with respect to a wide range of issues including trade policies, treaties, government regulations
and tariffs. Economic conditions in China are sensitive to global economic conditions, as well as changes in domestic economic and political
policies and the expected or perceived overall economic growth rate in China. It is unclear whether these challenges and uncertainties
will be contained or resolved and what effects they may have on the global political and economic conditions in the long term. Therefore,
a slowdown in China’s economy or the global economy may lead to a reduction in demand for our services, which could materially and
adversely affect our financial condition and results of operations.

The legal system in China embodies uncertainties which could limit the legal protections available to us or impose additional requirements and obligations on our business, and PRC laws, rules, and regulations can evolve quickly, which may materially and adversely affect our business, financial condition, and results of operations.

We conduct our business through our PRC subsidiary in China. Our operations
in China are governed by PRC laws and regulations. The legal system in China is a civil law system based on statutes.