Company: VSA
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109735
Chunk: 15

Company: VisionSys AI Inc
Filing Date: 2025-11-13
Form: 424B5
Chunk 15
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 net proceeds will be invested in a way that does not yield a favorable, or any, return for us. The failure
of our management to use such funds effectively could have a material adverse effect on our business, financial condition, operating results
and cash flow.

Future sales of our ADSs, whether by us or our shareholders, could cause our share price to decline

If our existing shareholders sell, or indicate an
intent to sell, substantial amounts of our ADSs in the public market, the trading price of our ADSs could decline significantly. Similarly,
the perception in the public market that our shareholders might sell of our ADSs could also depress the market price of our ADSs. A decline
in the price of our ADSs might impede our ability to raise capital through the issuance of additional of our ADSs or other equity securities.
In addition, the issuance and sale by us of additional of our ADSs or securities convertible into or exercisable for our ADSs, or the
perception that we will issue such securities, could reduce the trading price for our ADSs as well as make future sales of equity securities
by us less attractive or not feasible. The sale of ADSs issued upon the exercise of our outstanding options and warrants could further
dilute the holdings of our then existing shareholders.

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Securities analysts may not cover our Ordinary Shares or ADSs and this may have a negative impact on the market price of our ordinary shares

The trading market for our
ADSs will depend, in part, on the research and reports that securities or industry analysts publish about us or our business. We do not
have any control over independent analysts (provided that we have engaged various non-independent analysts). We do not currently have
and may never obtain research coverage by independent securities and industry analysts. If no independent securities or industry analysts
commence coverage of us, the trading price for our ADSs would be negatively impacted. If we obtain independent securities or industry
analyst coverage and if one or more of the analysts who covers us downgrades our ADSs, changes their opinion of our shares or publishes
inaccurate or unfavorable research about our business, our share price would likely decline. If one or more of these analysts ceases coverage
of us or fails to publish reports on us regularly, demand for our ADSs could decrease and we could lose visibility in the financial markets,
which could cause the price and trading volume of our ADSs to decline.

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