Company: VSA
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109735
Chunk: 76

Company: VisionSys AI Inc
Filing Date: 2025-11-13
Form: 424B5
Chunk 76
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 not all, of our available funds and any future earnings to operate and expand our business.

Our board of directors has complete discretion
in deciding the payment of any future dividends, subject to applicable laws. Under Cayman Islands law, a Cayman Islands company may pay
a dividend on its shares out of its profits, realized or unrealized, or from any reserve set aside from profits which its directors determine
is no longer required or out of the share premium account or any other fund or account that can be authorized for this purpose in accordance
with the Companies Act, provided that in no circumstances may a dividend be paid if this would result in the company being unable to pay
its debts due in the ordinary course of business. In addition, our shareholders may by ordinary resolution declare a dividend, but no
dividend may exceed the amount recommended by our board of directors. The declaration and payment of dividends will depend upon, among
other things, our future operations and earnings, capital requirements and surplus, our financial condition, contractual restrictions,
general business conditions and other factors as our board of directors may deem relevant.

We are a holding company incorporated in the Cayman
Islands. We may rely on dividends from our subsidiary in mainland China for our cash requirements, including any payment of dividends
to our shareholders. PRC regulations may restrict the ability of our PRC subsidiaries to pay dividends to us.

If we pay any dividends, we will pay those dividends
which are payable in respect of the Class A ordinary shares underlying the ADSs to the depositary, as the registered holder of such
Class A ordinary shares, and the depositary will then pay such amounts to our ADS holders in proportion to the Class A ordinary
shares underlying the ADSs held by such ADS holders, subject to the terms of the deposit agreement, including the fees and expenses payable
thereunder. Cash dividends on our Class A ordinary shares, if any, will be paid in U.S. dollars.

<div align='center'>S-44

CAPITALIZATION</div>

The following table sets forth our capitalization
as of June 30, 2025 presented on:

| · | an actual basis; and |

| · | a pro forma basis to reflect (1) the issuance and sale of 9,230,750 ADSs at the purchase price of US$1.30 per ADS, (2) the Series A Warrants to purchase 9,230,750 ADSs at the price of US$1.30 per ADS, and (