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United States securities and exchange commission logo





                            September 23, 2021

       Yanming Liu
       Chief Executive Officer
       Venus Acquisition Corporation
       477 Madison
       Avenue, 6th Floor
       New York, NY 10022

                                                        Re: Venus Acquisition
Corp
                                                            Amendment No. 1 to
Registration Statement on Form S-4
                                                            Filed September 3,
2021
                                                            File No. 333-257518

       Dear Mr. Liu:

             We have reviewed your amended registration statement and have the
following
       comments. In some of our comments, we may ask you to provide us with
information so we
       may better understand your disclosure.

              Please respond to this letter by amending your registration
statement and providing the
       requested information. If you do not believe our comments apply to your
facts and
       circumstances or do not believe an amendment is appropriate, please tell
us why in your
       response.

              After reviewing any amendment to your registration statement and
the information you
       provide in response to these comments, we may have additional comments.
Unless we note
       otherwise, our references to prior comments are to comments in our
August 13, 2021 letter.

       Amendment No. 1 to Registration Statement on Form S-4

       Cover Page

   1.                                                   We note the revisions
made in response to prior comment 1. Please revise to
                                                        prominently state that
VIYI is not a Chinese operating company but a Cayman Islands
                                                        holding company with
its operations conducted by its subsidiaries and through contractual
                                                        arrangements with a
VIE.
   2.                                                   We note the revisions
made in response to prior comment 4, including disclosure on page
                                                        43 indicating that New
Venus will be a "controlled company" after the business
                                                        combination. Please
revise the cover page to disclose New Venus' expected status as a
 Yanming Liu
FirstName LastNameYanming
Venus Acquisition CorporationLiu
Comapany 23,
September NameVenus
              2021    Acquisition Corporation
September
Page 2    23, 2021 Page 2
FirstName LastName
         "controlled company."
Summary of the Proxy Statement/Prospectus, page 11

3.       We note your response to prior comment 11; however, we were unable to
locate a diagram
         that depicts your post-business combination structure and identifies
the ownership
         percentages of various securityholder groups. Please revise or advise.
4.       In response to prior comment 13, you state that VIYI is currently not
required to obtain
         approval from Chinese authorities to list on U.S. exchanges and thus
have not received
         any explicit permission or denial from the CSRC, CAC or other Chinese
authorities. We
         note that the above statement focuses on permissions required to list
on U.S. exchanges.
         Please broaden your disclosure to address any permissions required to
approve of the
         VIE   s operations and any permissions required to operate and issue
VIYI's securities to
         foreign investors. Please ensure that you affirmatively state whether
VIYI or its VIE and
         subsidiaries have received all such requisite permissions and whether
any such
         permissions have been denied.
5.       We note the risk factor disclosure you highlight in response to prior
comment 16. Please
         revise your summary section to provide all of the disclosure requested
by prior comment
         16 in the summary.
Risk Factors, page 22

6.       We note your response to prior comment 12. Please further revise to
specifically discuss
         risks and uncertainties regarding the enforcement of laws and that
rules and regulations in
         China can change quickly with little advance notice; the risk that the
Chinese government
         may intervene or influence your operations at any time, or may exert
more control over
         offerings conducted overseas and/or foreign investment in China-based
issuers, which
         could result in a material change in your operations and/or the value
of VIYI's ordinary
         shares. Also address the risks that any actions by the Chinese
government to exert more
         oversight and control over offerings that are conducted overseas
and/or foreign investment
         in China-based issuers could significantly limit or completely hinder
your ability to offer
         or continue to offer securities to investors and cause the value of
such securities to
         significantly decline or be worthless.
Summary of the Proxy Statement/Prospectus
Summary Financial Information of VIYI, page 25

7.       Please explain why the VIE's operating revenue significantly declines
over the reporting
         periods. For example, operating revenue reported in the year ending
December 31, 2019
         and 2020 was RMB 111,185,073 and RMB 149,575,631 then declines to RMB
7,112,735
         for the six months ending June 30, 2021. In addition, clarify why
there was no cost of
         revenue reported for the six months ending June 30, 2021. Indicate
whether these results
         are due to the January 11, 2021 transfers of equity interest in
certain entities by Shenzhen
         Yitian to Weidong. If so, clarify whether these business or entities
are not subject to risk
 Yanming Liu
FirstName LastNameYanming
Venus Acquisition CorporationLiu
Comapany 23,
September NameVenus
              2021    Acquisition Corporation
September
Page 3    23, 2021 Page 3
FirstName LastName
         that they might be in a restricted business. Lastly, please describe
the terms and reasons
         for the significant intercompany receivable on the VIE's balance sheet
as of June 30, 2021.
Background of the Business Combination
Basis for Venus Board of Directors' Recommendation - Fairness Opinion, page 90

8.       We note the revisions made in response to prior comment 25; however,
we were unable to
         locate disclosure responsive to Item 1015 of Regulation M-A. For
example, please revise
         to disclose any material relationship that existed during the past two
years or is mutually
         understood to be contemplated and any compensation received or to be
received as a
         result of the relationship between Venus and King Kee Appraisal and
Advisory Limited,
         including the amount of compensation that King Kee has received, and
will receive,
         related to the fairness opinion and any amount that is contingent upon
the successful
         completion of the business combination.
Business Combination Proposal
Projected Financial Metrics (000RMB), page 96

9.       You disclose that VIYI Algorithm Inc., previously known as VIYI
Technology Inc., is a
         company incorporated on September 24, 2020. Please expand your
disclosures to explain
         in greater detail your basis for presenting significant growth in your
financial projection
         when your company appears to have a limited operating history and
operates in a
         competitive industry. In this regard, please segregate your projected
revenue by each
         revenue stream and by geographic location. Disclose underlying
assumptions that are
         driving growth for each revenue stream (e.g., number of chips sold per
year). Separately
         disclose the projected operating revenue and results associated with
your VIE. Refer to
         Item 10 of Regulation S-K. In addition, explain why you are presenting
under Yen
         currency instead of using RMB.
10.      Please disclose the material assumptions underlying the projections
for Gross Profit,
         Adjusted EBITDA, and Net Profit. Refer to Item 10(b)(3)(i) of
Regulation S-K. If
         material, disclose projected operating and other expenses.
Additionally, provide projection
         disclosure for each reportable operating segment consistent with your
segment footnotes.
Management's Discussion and Analysis of Financial Condition and Results of
Operations of
VIYI
Key Factors Affecting Results of Operations, page 130

11.      We have reviewed your response to prior comment 28 and note that you
disclose total
         number of customers, new customers, average annualized revenue per
customer, and
         customer retention rate by segment. Please include a discussion of how
you define the
         average annualized revenue per customer. In addition, please revise to
include statements
         indicating the reasons why each metric provides useful information to
investors and how
         management uses the metrics in managing or monitoring the performance
of the business.
         Refer to SEC Release No. 33-10751.
 Yanming Liu
FirstName LastNameYanming
Venus Acquisition CorporationLiu
Comapany 23,
September NameVenus
              2021    Acquisition Corporation
September
Page 4    23, 2021 Page 4
FirstName LastName
Results of Operations, page 133

12.      You disclose that the increases in your operating expenses were mainly
due to the increase
         in the number of your employees as VIYI set up or acquired new
subsidiaries since May
         2020. Please tell us what consideration you gave in quantifying these
fluctuations. In this
         regard, it may be beneficial to provide comparative headcount data to
assist in explaining
         significant fluctuations related to changes in personnel levels. Refer
to Section III.D of
         SEC Release 33-6835. Additionally, given that your operating expenses
were impacted by
         an increase in the number of VIYI employees, please tell us why the
cost of revenues has
         not been similarly impacted.
13.      You disclose that while the overall cost of revenues has increased,
the cost of revenues for
         Central Processing Algorithm Services declined by 43.7% mainly due to
improvement in
         technology where VIYI   s algorithm could allow more advertisements to
be placed from
         the same internet traffic, thus reducing its channel costs. Please
clarify whether you
         anticipate this to be a continuing trend. Additionally, given that
your operating expenses
         were impacted by an increase in the number of VIYI employees, please
tell us why the
         cost of revenues of the Central Processing Algorithm Services segment
has not been
         similarly impacted.
Pro Forma Combined Statements of Operation, page 179

14.      Please revise to add a column to reflect the results of the Fe-da
Electronics as if the
         acquisition had been completed on January 1, 2020. We refer you to
Rule 11-02(b) of
         Regulation S-X.
Compensation of Directors and Executive Officers, page 189

15.      We note the revisions made in response to prior comment 39; however,
we were unable to
         locate executive compensation disclosure in compliance with Item 402
of Regulation S-
         K. Please revise to provide this disclosure or advise.
Security Ownership of Certain Beneficial Owners and Management Prior to the
Business
Combination, page 190

16.      We note the table added in response to prior comment 33. Please revise
to ensure that this
         table provides all of the disclosure required by Item 403 of
Regulation S-K, including the
         beneficial ownership of management and the natural persons who
directly or indirectly
         exercise sole or shared voting and/or dispositive power over shares
held by entities.
Venus Acquisition Corporation
Notes to Unaudited Condensed Consolidated Financial Statements
Note 2 - Revision of Previously Issued Financial Statements, page F-9

17.      You disclose that 4,600,000 of public warrants to be issued in the
offering are now
         classified in equity while previously you determined these warrants
did not meet the
 Yanming Liu
Venus Acquisition Corporation
September 23, 2021
Page 5
      criteria for equity treatment and recorded them as a liability. Please
provide us with an
      accounting analysis that supports this change in accounting treatment. In
addition, we note
      that this correction was identified on June 30, 2021 since you revisited
your prior position
      on accounting for public warrants. Please tell us why you have not filed
an Item 4.02 of
      Form 8-K to report this restatement.
VIYI Algorithm Inc and Subsidiaries
Note 2 - Summary of significant accounting policies
Revenue recognition, page F-49

18.   Please clarify why you believe revenue recognized from the resale of
intelligent chips
      products and accessories should be presented on a gross basis. We refer
you to ASC 606-
      10-55-36 to 55-40. Please clarify whether you purchase and warehouse the
products and
      accessories before delivery to your customers. You state that you have
the obligation to
      (i) fulfill the products delivery and (ii) bear any inventory risk as
legal owners. Please
      describe your role in delivering the product to a customer. In addition,
explain how you
      concluded you control setting the selling price in detail. Explain how
you evaluated
      whether the selling price is determined by the marketplace. Please
indicate whether the
      chip products are procured from one vendor.
General

19.   We note your response to prior comment 42. Please file a legal opinion
from the Zhou Ne
      Law Firm as an exhibit. Additionally, please ensure you identify each
prospectus
      disclosure that constitutes the opinion of the Zhou Ne Law Firm as such.
       You may contact Amanda Kim, Staff Accountant, at (202) 551-3241 or
Stephen
Krikorian, Accounting Branch Chief, at (202) 551-3488 if you have questions
regarding
comments on the financial statements and related matters. Please contact
Mitchell Austin, Staff
Attorney, at (202) 551-3574 or Jan Woo, Legal Branch Chief, at (202) 551-3453
with any other
questions.



                                                            Sincerely,
FirstName LastNameYanming Liu
                                                            Division of
Corporation Finance
Comapany NameVenus Acquisition Corporation
                                                            Office of
Technology
September 23, 2021 Page 5
cc:       Brian C. Daughney, Esq.
FirstName LastName
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