Corporate GovernanceJul 1, 2026, 04:43 PM
VisionSys AI Adopts Dual-Class Share Structure with Unequal Voting Rights
AI Summary
VisionSys AI Inc. has adopted its Sixth Amended and Restated Memorandum and Articles of Association, effective June 26, 2026. The updated documents establish a dual-class share structure, comprising Class A Ordinary Shares with one vote per share and Class B Ordinary Shares with 100 votes per share. This structure allows for differential voting power, with Class B shares automatically converting to Class A upon transfer to non-affiliates. The company's authorized share capital is set at US$260 million, divided into 260 billion shares across these classes and other potential preference shares.
Key Highlights
- Adopted Sixth Amended and Restated Memorandum and Articles of Association.
- Established dual-class share structure with Class A and Class B Ordinary Shares.
- Class A Ordinary Shares carry one vote per share.
- Class B Ordinary Shares carry 100 votes per share.
- Class B shares automatically convert to Class A upon transfer to non-affiliates.
- Authorized share capital set at US$260 million, divided into 260 billion shares.
- Directors can issue preference shares without member approval.
- Shareholder requisition for general meetings requires 1/3 of aggregate votes.
Price Impact
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