Company: VSA
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001410578-25-001300
Chunk: 175

Company: VisionSys AI Inc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 175
---
 million; and (c) a decrease in deferred income tax assets of RMB28.0 million; and (d) a decrease in deferred revenue of RMB92.8 million due to a slowdown in business activities of our STEM education segment; and (e) a decrease in prepaid expenses and other current assets of RMB 28.1 million.
Net cash provided by operating activities from continuing operations amounted to RMB21.5 million in 2023. It was primarily due to (a) a net income from continuing operations of RMB22.3 million, mainly adjusted by depreciation and amortization of RMB46.9 million, amortization of right-of-use asset of RMB121.3 million, loss on disposal of property and equipment of RMB1.3 million, and share based compensation expense of RMB2.7 million; (b) a decrease in operating lease liabilities of RMB147.7 million; and (c) an increase in deferred income tax assets of RMB9.8 million; and (d) a decrease in deferred revenue of RMB104.3 million due to the reduced collections of our STEM education business.
Net cash provided by operating activities from continuing operations amounted to RMB1.0 million in 2022. It was primarily due to (a) a net loss of RMB2.1 million, mainly adjusted by depreciation and amortization of RMB67.7 million, amortization of right-of-use asset of RMB136.9 million, loss on disposal of property and equipment of RMB0.6 million, and share based compensation expense of RMB11.4 million; (b) a decrease in operating lease liabilities of RMB142.6 million; and (c) an increase in deferred income tax assets of RMB18.3 million; and (d) a decrease in deferred revenue of RMB109.3 million due to the reduced collections of our STEM education business.
Investing Activities
Net cash used in investing activities from continuing operations was RMB89.2 million (US$12.2 million) in 2024, consisting of the purchase of property and equipment, including computers and servers, of RMB65.6 million for the replacement of obsolete items and loan provided to related parties of RMB33.4 million, partially offset by loan collected from related parties of RMB7.8 million. 
Net cash used in investing activities from continuing operations was RMB34.5 million in 2023, consisting