Company: VSA
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001410578-25-001300
Chunk: 107

Company: VisionSys AI Inc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 107
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, we developed and launched 61it.cn as an online platform to facilitate the live instruction of our STEM education courses targeting minors to deliver an interactive and engaging learning experience beyond the geographical limitation. We have also integrated the online platform with our proprietary learning management system Tarena Teaching System, or TTS, to enhance students’ learning performance after each class. As of December 31, 2023, there were 220 TongchengTongmei standalone learning centers covering 53 cities in mainland China.
Discontinued operations. We had offered IT professional education lectures through a group of experienced and passionate instructors based in Beijing to a nationwide network of learning centers since our inception, or professional education business. In December 2023, we entered into an equity transfer agreement to dispose of our equity interests in the professional education business, or the Divestiture. The Divestiture had been consummated at the end of March 2024. Upon the consummation of the Divestiture, the professional education business, including the business operated by the former VIE, had been divested. In 2022 and 2023, revenues generated from our professional education business represented a large portion of our total revenues. In 2024, due to its divestiture, revenues from the professional education business accounted for a remote proportion of our total revenues. See “-A. History and Development of the Company” and “Item 5. Operating and Financial Review and Prospects-A. Operating Results-Financial Impact by the Divestiture” for more details.

61

We are a holding company with no material operations of our own. We conduct our operations primarily through our subsidiaries and the variable interest entities in mainland China. We operate our 61it.cn website and Tongcheng Online App through Beijing Tongcheng, and such website and application have been included in the permitted operation scope under the ICP license held by Beijing Tongcheng. Our wholly owned subsidiaries in mainland China are currently not eligible as wholly owned foreign-invested enterprises to hold ICP licenses.
Our Education Platform
Our education platform has three key components: live distance instruction, classroom-based learning and online learning modules.
Live distance instruction
Our instructors deliver live courses from our headquarters in Beijing primarily via live webcast to our students. Our live broadcast method of course delivery ensures consistency in teaching quality across all our centers. All of our instructors that deliver the course through a webcasting system are located in Beijing, where we centralize our training support. Our headquarter-level quality control department monitors