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VSA

TCTM Kids IT Education Inc ADR

VSA

TCTM Kids IT Education Inc ADR • NASDAQ
$0.12 ▼ -7.30% (-0.01)
Market Cap $5.19 M
52w High $4.24
52w Low $0.11
Dividend Yield 0%
P/E -0.02
Volume 11.34M
Outstanding Shares 44.91M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2023 $545.012M ▲ $285.514M ▲ $7.527M ▲ 1.381% ▲ $0.7 ▲ $-6.803M ▲
Q1-2023 $385.104M ▼ $259.826M ▼ $-50.233M ▼ -13.044% ▼ $-4.67 ▼ $-58.823M ▼
Q4-2022 $552.444M ▼ $326.945M ▼ $-18.506M ▼ -3.35% ▼ $-1.72 ▼ $-4.568M ▼
Q3-2022 $643.307M ▼ $333.227M ▲ $27.736M ▼ 4.311% ▼ $2.55 ▼ $20.998M ▼
Q2-2022 $648.817M $328.494M $47.729M 7.356% $4.36 $48.017M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $15.302M ▼ $100.617M ▼ $1.904B ▼ $-1.803B ▼
Q2-2024 $83.163M ▼ $673.968M ▼ $2.006B ▼ $-1.331B ▲
Q2-2023 $282.196M ▼ $1.226B ▼ $2.776B ▼ $-1.544B ▲
Q1-2023 $364.767M ▲ $1.295B ▼ $2.851B ▲ $-1.549B ▼
Q4-2022 $198.529M $1.337B $2.844B $-1.5B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow

Five-Year Company Overview

Income Statement

Income Statement Revenue has been drifting down from its earlier peak and is now quite small, suggesting the legacy kids IT education business has been shrinking rather than scaling. Gross profit remains positive, but after accounting for operating costs the company has produced operating losses in most of the last several years, with a particularly large loss in the most recent year. Profitability has been volatile, swinging between small profits and sizeable losses, which points to an unstable business model and limited cost flexibility. Overall, the income statement shows a company that has struggled to earn consistent profits and is entering its new AI-focused phase from a position of financial weakness rather than strength.

Balance Sheet

Balance Sheet The balance sheet looks fragile. Total assets have steadily shrunk, and the cash balance has fallen to a very low level compared with prior years. Debt has not come down meaningfully alongside this drop in assets, which means leverage is high relative to the company’s size. Shareholders’ equity has been negative for several years, reflecting accumulated losses and a thin or even inverted capital cushion. Put together, the company appears financially strained, with limited resources to support an ambitious transformation without fresh external capital or asset revaluation.

Cash Flow

Cash Flow Cash generation from the core business has been weak, with operating cash flow negative in most recent years. After including investment in fixed assets, free cash flow has consistently been negative, meaning the company has been burning cash rather than generating it. Capital spending itself is not large, but the underlying operations have not been strong enough to fund even this modest level of investment. This pattern suggests a reliance on outside financing or one-off transactions to keep the business funded, which adds financial risk during a period of strategic reinvention.

Competitive Edge

Competitive Edge The company is in the middle of a drastic shift from children’s IT education to advanced AI, brain‑computer interfaces, and biotech‑related services, rebranding as VisionSys AI. In its new arenas, it is a small, early‑stage player entering highly competitive markets where there are many larger technology, biotech, and AI companies with deeper resources and longer track records. Its strategy is unusual: combining AI‑powered clinical trial tools, brain‑machine interaction ambitions, and a large planned cryptocurrency treasury. This gives it a distinctive story but not yet a proven moat. Until its acquisitions are completed, integrated, and translated into paying customers, its competitive position should be considered emerging and unproven.

Innovation and R&D

Innovation and R&D Innovation is being pursued mainly through acquisitions and bold strategic bets rather than through a long, established in‑house R&D program. The planned purchase of HopeAI brings in concrete, specialized AI tools for clinical trials, which is one of the more tangible and credible pieces of the story. Beyond that, the company is talking about brain‑machine interaction and AI‑plus‑blockchain solutions, but publicly available details remain high level and early stage. The Solana‑based digital treasury and AI‑driven DeFi concepts are innovative but unconventional and carry both technology and regulatory uncertainty. In short, the innovation agenda is ambitious and imaginative, but at this point still long on vision and short on demonstrated, mature products and recurring revenue.

Summary

VSA (VisionSys AI) is attempting a radical transformation from a shrinking education business into a speculative, high‑tech AI and biotech platform with a crypto‑finance twist. The historical numbers reflect a small company with declining revenue, persistent losses, a weakened balance sheet, and ongoing cash burn. Against that backdrop, management is pursuing a high‑risk, high‑concept strategy built on acquisitions like HopeAI and novel ideas at the intersection of AI, healthcare, brain‑computer interfaces, and blockchain. The upside case depends on successful deal completion, integration, productization, and market adoption in entirely new fields, none of which is yet visible in the financials. Overall, this looks like an early‑stage, high‑uncertainty story where execution and access to capital will be critical to whether the ambitious pivot can overcome the current financial fragility.

NEWS

October 10, 2025 · 7:00 AM UTC

VisionSys AI Inc. Appoints Tom Trowbridge as Senior Advisor to Drive Digital Currency Treasure Strategy

Read more

October 1, 2025 · 7:00 AM UTC

VisionSys AI Launches an up to $2 Billion Solana Treasury Initiative in Exclusive Partnership with Marinade Finance

Read more

September 30, 2025 · 7:00 AM UTC

VisionSys AI Inc. Announces Appointment of Chief Strategy Officer

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September 15, 2025 · 8:00 AM UTC

TCTM Kids IT Education Inc. Announces Name Change to VisionSys AI Inc.

Read more