Company: VSA
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001410578-25-001300
Chunk: 105

Company: VisionSys AI Inc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 105
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 entered into with the variable interest entities, see “Item 3. Key Information—D. Risk Factors—Risks Related to Our Corporate Structure.”
On April 1, 2025, we entered into share purchase agreements with certain investors, under which we sold and issued an aggregate of 25,000,000 Class A ordinary shares for a total purchase price of US$2.0 million. On the same day, we entered into an intangible asset purchase agreement with Jeethen International Co., Limited to acquire core algorithms and related software and hardware systems for brain-computer interfaces in consideration for the issuance of 135,625,000 Class A ordinary shares.
On April 3, 2025, we changed our ticker symbol from “TCTM” to “VSA”.
On April 24, 2025, our board of directors approved the engagement of certain advisors and the grant of an aggregate of 10,000,000 Class A ordinary shares to these advisors as compensation for their advisory services.

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The table below sets forth the percentages of the respective revenues from continuing operations and assets of our Company and its wholly owned subsidiaries, and the VIEs as of the dates and for the periods indicated:
​

                  ​                      ​         ​          ​         ​          ​         ​         ​         ​         ​
----------------------------------------------------------------------------------------------------------------------------
​                                        ​    ​              ​     ​              ​     ​              ​    Total           
​                                        ​    Net Revenues(1)                                          ​    Assets(1)       
​                                        ​    For the        ​     For the        ​     For the        ​    ​               
​                                        ​    year ended     ​     year ended     ​     year ended     ​    As of           
​                                        ​    December 31,   ​     December 31,   ​     December 31,   ​    December 31,    
​                                        2022                2023                 2024                 2024                ​
TCTM and its wholly owned subsidiaries   97.1                %     93.4           %     92.6           %    56.9           %
VIEs                                     2.9                 %     6.6            %     7.4            %    43.1           %
Total                                    100.0               %     100.0          %     100            %    100            %
Note:

(1)   The percentages exclude the inter-company transactions and balances between T