Company: VSA
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109735
Chunk: 157

Company: VisionSys AI Inc
Filing Date: 2025-11-13
Form: 424B5
Chunk 157
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 for the registration of transfer                                                               
 of deposited securities on any applicable register in connection with the deposit or withdrawal of deposited securities; and |

| ● | in connection with the conversion of foreign currency into                                                                               
 U.S. dollars, the depositary or the custodian shall deduct out of such foreign currency the fees and expenses charged by it or its agent 
 so appointed in connection with such conversion.                                                                                         |

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We will pay all other charges and expenses of the depositary and any
agent of the depositary (except the custodian) pursuant to agreements from time to time between us and the depositary. The charges described
above may be amended from time to time by agreement between us and the depositary.

The depositary has agreed to reimburse us for certain expenses we incur
that are related to establishment and maintenance of the ADR program upon such terms and conditions as we and the depositary may agree
from time to time. The Depositary may make available to us a set amount or a portion of the depositary fees charged in respect of the
ADR program or otherwise upon such terms and conditions as we and the Depositary may agree from time to time. The depositary collects
fees for the issuance and cancellation of ADSs directly from investors depositing shares or surrendering ADSs for the purpose of withdrawal
or from intermediaries acting for them. The depositary collects fees for making distributions to investors by deducting those fees from
the amounts distributed or by selling a portion of distributable property to pay the fees. The depositary may collect the fees for depositary
services by deduction from cash distributions, or by directly billing investors, or by charging the book-entry system accounts of participants
acting for them. The depositary will generally set off the amounts owing from distributions made to holders of ADSs. If, however, no distribution
exists and payment owing is not timely received by the depositary, the depositary may refuse to provide any further services to holders
that have not paid those fees and expenses owing until such fees and expenses have been paid. At the discretion of the depositary, all
fees and charges owing under the deposit agreement are due in advance and/or when declared owing by the depositary.

Payment of Taxes

ADS holders must pay any tax or other governmental charge payable by
the custodian or the depositary on any ADS or ADR, deposited security or distribution. If an ADS holder owes any tax or other governmental
charge, the depositary