VISIONSYS AI INC. (FORMERLY KNOWN AS TCTM KIDS IT EDUCATION INC.) MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Form 6-K)

VISIONSYS AI INC. (FORMERLY KNOWN AS TCTM KIDS IT EDUCATION INC.)

MANAGEMENT'S DISCUSSION AND ANALYSIS

OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This Management's Discussion and Analysis of Financial Condition and Results of Operations (this "Management's Discussion and Analysis") is designed to provide you with a narrative explanation of the consolidated financial condition and results of operations of VisionSys AI Inc. (formerly known as tctm kids it education inc.) and its consolidated subsidiaries as of and for the six-month period ended June 30, 2025. Unless otherwise indicated or the context otherwise requires, all references in this Management's Discussion and Analysis to "VSA", the "Company", "we", "our", "ours" "us" or similar terms refer to VisionSys AI Inc. (formerly known as tctm kids it education inc.) together with its consolidated subsidiaries.

You should read this Management's Discussion and Analysis in conjunction with our summary of unaudited condensed consolidated interim financial statements information as of and for the six-month period ended June 30, 2025. You should also read this Management's Discussion and Analysis in conjunction with (i) our audited consolidated financial statements of 2024, including the notes thereto, and the section titled "Risk Factors" included in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2024 filed with the United States Securities and Exchange Commission ("SEC") on May 15, 2025.

Our unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"). All amounts in the unaudited interim condensed consolidated financial statements and notes and in this Management's Discussion and Analysis are expressed in Renminbi ("RMB"). Amounts in United States dollars ("US$") are presented solely for the convenience of readers and use an exchange rate of US$1.00 = RMB7.1636, representing the exchange rate as set forth in the H.10 statistical release of the U.S. Federal Reserve Board as of June 30, 2025. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate.