NASDAQ : VSA
VisionSys AI Inc. — Financial statements
Consumer Staples · Education & Training Services · China
Last price 1.665 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.64M
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Financial statements
VisionSys AI Inc. (VSA) reported revenue of 1.04M CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.04M | 1.04M | 1.40B | 1.24B | ||
| Cost of Revenue | 810.00K | 810.00K | 728.42M | 795.67M | ||
| Gross Profit | 229.00K | 229.00K | 671.43M | 440.60M | ||
| Selling, General & Admin | 19.19M | 19.19M | 14.40M | 11.62M | 677.53M | 796.94M |
| Research & Development | 20.25M | 40.31M | ||||
| Operating Expenses | 19.19M | 19.19M | 14.40M | 11.62M | 697.78M | 837.25M |
| Operating Income | -18.96M | -18.96M | -14.40M | -11.62M | -26.35M | -396.65M |
| Interest Expense | -95.00K | -95.00K | -68.00K | -2.81M | -117.00K | |
| Interest & Investment Income | 31.00K | 4.77M | 2.73M | |||
| Currency Exchange Gain (Loss) | 42.00K | 42.00K | 621.00K | 105.00K | -325.00K | -267.00K |
| Other Non Operating Income (Expenses) | 1.00K | 1.00K | 8.15M | 1.47M | ||
| EBT Excluding Unusual Items | -19.01M | -19.01M | -13.85M | -11.49M | -16.57M | -392.84M |
| Asset Writedown | -21.02M | -21.02M | ||||
| Pretax Income | -40.03M | -40.03M | -13.85M | -11.49M | -16.57M | -392.84M |
| Income Tax Expense | 20.83M | 114.06M | ||||
| Earnings From Continuing Operations | -40.03M | -40.03M | -13.85M | -11.49M | -37.40M | -506.89M |
| Earnings From Discontinued Operations | 1.76B | 1.76B | -573.25M | 21.84M | 122.63M | 31.11M |
| Net Income to Company | 1.72B | 1.72B | -587.10M | 10.35M | 85.23M | -475.78M |
| Minority Interest in Earnings | 19.00K | 19.00K | 560.00K | -1.43M | -1.71M | 1.23M |
| Net Income | 1.72B | 1.72B | -586.54M | 8.93M | 83.52M | -474.55M |
| Net Income to Common | 1.72B | 1.72B | -586.54M | 8.93M | 83.52M | -474.55M |
| Shares Outstanding (Basic) | 77.53K | 77.53K | 20.01K | 21.55K | 21.86K | 22.50K |
| Shares Outstanding (Diluted) | 77.53K | 77.53K | 20.01K | 21.55K | 23.09K | 22.50K |
| EPS (Basic) | 22,169.20 | 22,169.20 | -29,309.51 | 414.20 | 3,820.15 | -21,087.23 |
| EPS (Diluted) | 22,169.20 | 22,169.20 | -29,309.51 | 414.20 | 3,820.15 | -21,087.23 |
| Free Cash Flow | -264.37M | -264.37M | -121.45M | -118.94M | -56.93M | -38.30M |
| Free Cash Flow Per Share | -3,409.63 | -3,409.63 | -6,069.11 | -5,519.03 | -2,465.31 | -1,701.92 |
| Gross Margin | 22.04% | 22.04% | 47.96% | 35.64% | ||
| Operating Margin | -1,825.02% | -1,825.02% | -1.88% | -32.08% | ||
| Profit Margin | 165,436.86% | 165,436.86% | 5.97% | -38.39% | ||
| Free Cash Flow Margin | -25,444.27% | -25,444.27% | -4.07% | -3.10% | ||
| EBITDA | -15.15M | -15.15M | 26.70M | 35.26M | 41.35M | -325.10M |
| EBITDA Margin | 2.95% | -26.30% | ||||
| D&A For EBITDA | 3.81M | 3.81M | 41.10M | 46.88M | 67.70M | 71.55M |
| EBIT | -18.96M | -18.96M | -14.40M | -11.62M | -26.35M | -396.65M |
| EBIT Margin | -1.88% | -32.08% | ||||
| Advertising Expenses | 42.02M | 77.95M |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 53.45M | 53.45M | 1.50M | 220.69M | 198.53M | 423.77M |
| Short-Term Investments | 300.00K | 6.26M | ||||
| Cash & Short-Term Investments | 53.45M | 53.45M | 1.50M | 220.99M | 198.53M | 430.02M |
| Accounts Receivable | 48.66M | |||||
| Other Receivables | 44.00K | 92.00K | 13.64M | |||
| Receivables | 44.00K | 92.00K | 82.88M | |||
| Inventory | 9.36M | 7.18M | 5.87M | |||
| Prepaid Expenses | 11.23M | 7.68M | 36.57M | |||
| Restricted Cash | 6.58M | 255.00K | ||||
| Other Current Assets | 1.69M | 1.69M | 99.11M | 312.40M | 454.07M | 63.74M |
| Total Current Assets | 55.13M | 55.13M | 100.62M | 560.60M | 667.55M | 619.33M |
| Property, Plant & Equipment | 303.12M | 326.70M | 795.38M | |||
| Long-Term Investments | 41.86M | 46.29M | 46.57M | |||
| Goodwill | 49.42M | 49.42M | 52.78M | |||
| Other Intangible Assets | 51.43M | 51.43M | 5.29M | 7.03M | 9.91M | |
| Long-Term Accounts Receivable | 90.00K | |||||
| Long-Term Deferred Tax Assets | 28.48M | 18.63M | 41.00M | |||
| Other Long-Term Assets | 29.48M | 221.88M | 59.90M | |||
| Total Assets | 106.56M | 106.56M | 100.62M | 1.02B | 1.34B | 1.64B |
| Accounts Payable | 4.99M | 5.26M | 8.91M | |||
| Accrued Expenses | 3.82M | 3.82M | 8.88M | 89.28M | 124.54M | 287.64M |
| Short-Term Debt | 30.00M | 30.00M | ||||
| Current Portion of Leases | 111.84M | 148.58M | 239.94M | |||
| Current Income Taxes Payable | 6.11M | 4.28M | 89.00M | |||
| Current Unearned Revenue | 1.44B | 1.47B | 2.08B | |||
| Other Current Liabilities | 1.90B | 759.96M | 873.40M | 200.45M | ||
| Total Current Liabilities | 3.82M | 3.82M | 1.90B | 2.41B | 2.66B | 2.94B |
| Long-Term Leases | 107.80M | 109.11M | 272.57M | |||
| Long-Term Unearned Revenue | 16.77M | |||||
| Other Long-Term Liabilities | 433.00K | 78.12M | 4.77M | |||
| Total Liabilities | 3.82M | 3.82M | 1.90B | 2.52B | 2.84B | 3.23B |
| Common Stock | 4.03M | 4.03M | 444.00K | 438.00K | 433.00K | 429.00K |
| Additional Paid-In Capital | 1.83B | 1.83B | 1.64B | 1.36B | 1.36B | 1.35B |
| Retained Earnings | -1.30B | -1.30B | -3.01B | -2.43B | -2.44B | -2.52B |
| Treasury Stock | -486.71M | -486.71M | -486.71M | -479.35M | -476.92M | -459.81M |
| Comprehensive Income & Other | 54.85M | 54.85M | 54.27M | 48.22M | 49.66M | 48.70M |
| Total Common Equity | 102.74M | 102.74M | -1.80B | -1.50B | -1.50B | -1.58B |
| Minority Interest | -737.00K | -3.57M | -6.79M | -8.50M | ||
| Shareholders' Equity | 102.74M | 102.74M | -1.80B | -1.50B | -1.51B | -1.59B |
| Total Liabilities & Equity | 106.56M | 106.56M | 100.62M | 1.02B | 1.34B | 1.64B |
| Total Debt | 219.64M | 287.69M | 542.51M | |||
| Net Cash (Debt) | 53.45M | 53.45M | 1.50M | 1.34M | -89.17M | -112.49M |
| Net Cash Per Share | 689.30 | 689.30 | 75.15 | 62.41 | -3,861.29 | -4,998.62 |
| Filing Date Shares Outstanding | 621.51K | 621.51K | 19.91K | 19.66K | 21.52K | 22.13K |
| Total Common Shares Outstanding | 220.64K | 220.64K | 19.88K | 21.58K | 21.51K | 22.64K |
| Working Capital | 51.31M | 51.31M | -1.80B | -1.85B | -1.99B | -2.32B |
| Book Value Per Share | 465.65 | 465.65 | -90,668.78 | -69,393.21 | -69,733.32 | -69,964.22 |
| Tangible Book Value | 51.31M | 51.31M | -1.80B | -1.55B | -1.56B | -1.65B |
| Tangible Book Value Per Share | 232.56 | 232.56 | -90,668.78 | -71,927.63 | -72,357.62 | -72,733.25 |
| Buildings | 169.76M | |||||
| Machinery | 182.54M | 180.59M | 436.62M | |||
| Leasehold Improvements | 80.78M | 134.78M | 247.65M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.72B | 1.72B | -586.54M | 8.93M | 83.52M | -474.55M |
| Depreciation & Amortization | 3.81M | 3.81M | 204.58M | 221.29M | ||
| Loss (Gain) From Sale of Assets | 636.00K | 934.00K | ||||
| Asset Writedown & Restructuring Costs | 21.02M | 21.02M | ||||
| Loss (Gain) From Sale of Investments | -2.57M | -1.38M | ||||
| Stock-Based Compensation | 11.38M | 14.11M | ||||
| Provision & Write-off of Bad Debts | 378.00K | |||||
| Other Operating Activities | -1.76B | -1.76B | 572.07M | -20.52M | -16.26M | 114.82M |
| Change in Accounts Payable | 1.08M | -283.00K | ||||
| Change in Unearned Revenue | -109.34M | 77.02M | ||||
| Change in Income Taxes | 3.80M | 486.00K | ||||
| Change in Other Net Operating Assets | -7.58M | -7.58M | 20.19M | 67.09M | -88.86M | 10.49M |
| Operating Cash Flow | -188.10M | -188.10M | -121.45M | -118.94M | -27.53M | 8.61M |
| Capital Expenditures | -76.26M | -76.26M | -29.40M | -46.91M | ||
| Sale of Property, Plant & Equipment | 583.00K | 954.00K | ||||
| Investment in Securities | -2.00K | |||||
| Other Investing Activities | -190.00K | -190.00K | -91.04M | 72.05M | 6.11M | 79.65M |
| Investing Cash Flow | -76.45M | -76.45M | -91.04M | 72.05M | -22.71M | 33.69M |
| Short-Term Debt Issued | 5.00M | 30.00M | 30.00M | |||
| Total Debt Issued | 5.00M | 30.00M | 30.00M | |||
| Short-Term Debt Repaid | -30.00M | -10.71M | ||||
| Total Debt Repaid | -30.00M | -10.71M | ||||
| Net Debt Issued (Repaid) | 5.00M | 19.29M | ||||
| Issuance of Common Stock | 185.82M | 185.82M | 142.00K | 227.00K | 107.00K | 3.95M |
| Repurchase of Common Stock | -7.36M | -2.43M | -17.10M | |||
| Other Financing Activities | -46.29M | -46.29M | 13.06M | -33.58M | 14.89M | |
| Financing Cash Flow | 139.53M | 139.53M | 10.84M | -35.78M | -2.10M | 23.24M |
| Foreign Exchange Rate Adjustments | 91.73M | 91.73M | 93.00K | -1.45M | 2.29M | -67.00K |
| Net Cash Flow | -33.30M | -33.30M | -201.56M | -84.11M | -50.05M | 65.47M |
| Free Cash Flow | -264.37M | -264.37M | -121.45M | -118.94M | -56.93M | -38.30M |
| Free Cash Flow Margin | -25,444.27% | -25,444.27% | -4.07% | -3.10% | ||
| Free Cash Flow Per Share | -3,409.63 | -3,409.63 | -6,069.11 | -5,519.03 | -2,465.31 | -1,701.92 |
| Levered Free Cash Flow | -1.89B | -1.89B | -163.85M | -56.70M | -303.17M | 171.84M |
| Unlevered Free Cash Flow | -1.89B | -1.89B | -163.81M | -56.70M | -301.41M | 171.92M |
| Cash Interest Paid | 1.34M | 463.00K | ||||
| Cash Income Tax Paid | 45.00K | |||||
| Change in Working Capital | -7.58M | -7.58M | 20.19M | 67.09M | -193.32M | 87.70M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.64M | 2.54M | 7.15M | 11.30M | 51.68M | 20.82M |
| Enterprise Value | -3.00M | 24.06M | 27.62M | 9.41M | 60.22M | 74.33M |
| Last Close Price | 1.67 | 24.30 | 360.30 | 525.00 | 2,335.00 | 920.00 |
| PE Ratio | 0.00 | 0.01 | 8.98 | 4.27 | ||
| Forward PE | 5.73 | 5.73 | 5.73 | 134.75 | 134.75 | |
| PS Ratio | 31.23 | 17.12 | 0.26 | 0.11 | ||
| PB Ratio | 0.03 | 0.17 | -0.03 | -0.05 | -0.24 | -0.08 |
| P/TBV Ratio | 0.63 | 0.35 | ||||
| P/OCF Ratio | 15.36 | |||||
| PEG Ratio | 17.38 | 17.38 | 17.38 | 17.38 | 17.38 | |
| EV/Sales Ratio | 161.94 | 0.30 | 0.38 | |||
| EV/EBITDA Ratio | 7.55 | 1.89 | 10.04 | |||
| Debt / Equity Ratio | -0.15 | -0.19 | -0.34 | |||
| Debt / EBITDA Ratio | 1.23 | 1.46 | ||||
| Net Debt / Equity Ratio | -0.52 | -0.52 | 0.00 | 0.00 | -0.06 | -0.07 |
| Net Debt / EBITDA Ratio | 3.53 | 3.53 | -0.06 | -0.04 | 2.16 | -0.35 |
| Net Debt / FCF Ratio | 0.20 | 0.20 | 0.01 | 0.01 | -1.57 | -2.94 |
| Asset Turnover | 0.01 | 0.01 | 0.94 | 0.69 | ||
| Inventory Turnover | 111.63 | 151.61 | ||||
| Quick Ratio | 13.99 | 13.99 | 0.00 | 0.09 | 0.07 | 0.17 |
| Current Ratio | 14.43 | 14.43 | 0.05 | 0.23 | 0.25 | 0.21 |
| Return on Assets (ROA) | -11.44% | -11.44% | -1.61% | -0.62% | -1.11% | -13.77% |
| Return on Capital Employed (ROCE) | -18.50% | -18.50% | 0.80% | 0.80% | 2.00% | 30.60% |
| Earnings Yield | 190,364.23% | 9,662.32% | -1,124.38% | 11.14% | 23.43% | -358.74% |
| FCF Yield | -856.61% | -1,486.07% | -232.82% | -148.44% | -15.97% | -28.95% |
| Buyback Yield / Dilution | -279.78% | -287.44% | 7.14% | 6.68% | -2.61% | -3.53% |