Company: VSA
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109735
Chunk: 21

Company: VisionSys AI Inc
Filing Date: 2025-11-13
Form: 424B5
Chunk 21
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 2025, our Class B ordinary shares represent 14.5% of our total issued and outstanding
ordinary shares on an as-converted basis and entitle their holders to 62.9% of our total voting power.

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As a result of the dual class share structure
and the concentration of ownership, holders of our Class B ordinary shares have substantial influence over our business, including decisions
regarding mergers, consolidations and the sale of all or substantially all of our assets, election of directors and other significant
corporate actions. They may take actions that are not in the best interest of us or our other shareholders. This concentration of ownership
may discourage, delay or prevent a change in control of our company, which could deprive our shareholders of an opportunity to receive
a premium for their shares as part of a sale of our company and may reduce the price of our ADSs. This concentrated control will limit
your ability to influence corporate matters and could discourage others from pursuing any potential merger, takeover or other change of
control transactions that holders of Class A ordinary shares and ADSs may view as beneficial. For more information regarding our principal
shareholders and their affiliated entities, see “Item 7. Major Shareholders and Related Party Transactions.”

The sale or availability for sale of substantial amounts of our ADSs could adversely affect their market price.

Sales of substantial amounts of our ADSs in the
public market, or the perception that these sales could occur, could adversely affect the market price of our ADSs and could materially
impair our ability to raise capital through equity offerings in the future. We cannot predict what effect, if any, market sales of securities
held by our significant shareholders or any other shareholder or the availability of these securities for future sale will have on the
market price of our ADSs.

We may be classified as a passive foreign investment company, or PFIC, which could result in adverse U.S. federal income tax consequences to U.S. Holders of our ADSs or Class A ordinary shares.

A non-U.S. corporation, such as our company, will
be classified as a passive foreign investment company, or PFIC, for U.S. federal income tax purposes for any taxable year, if either (i)
75% or more of its gross income for such year consists of certain types of “passive” income, or (ii) 50% or more of the value
of its assets (generally based on