Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 107

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 107
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4. Bondly HK is an investment holding company wholly owned by Legend Consulting HK.

Bondly XM, which is wholly owned and established
by Bondly HK on August 25, 2022, is engaged in providing financial and taxation solution services.

F-9

Reorganization and Share Issuance

On April 28, 2021, Lichen passed a resolution
to increase the share capital. Pursuant to such resolution, the authorized share capital of Lichen was increased from HK$50,000divided
into5,000,000shares with a nominal or par value of HK$0.01each (“ HKD Shares”) to the aggregate of (i) HK$50,000divided
into5,000,000HKD Shares and (ii) US$50,000divided into (a)400,000,000Class A Ordinary Shares with a nominal or par value of US$0.0001each and (b)100,000,000Class B Ordinary Shares with a nominal or par value of US$0.0001each. 5,400,000Class A Ordinary Shares and3,600,000Class B Ordinary Shares (collectively, the “ USD Shares”) were issued at the consideration of US$0.0001per share.
Upon the completion of the share issuance, all HKD Shares issued were repurchased by Lichen at the consideration HK$0.01per share and
cancelled immediately upon repurchase. Upon completion of the repurchase, the5,000,000unissued HKD Shares of the Company were cancelled
resulting in the reduction of the authorized share capital of the Company to US$50,000divided into (a)400,000,000Class A Ordinary Shares
with a nominal or par value of US$0.0001each and (b)100,000,000Class B Ordinary Shares with a nominal or par value of US$0.0001, each
in accordance with section 13 of the Cayman Islands Companies Act. The issuance of5,400,000Class A Ordinary Shares and3,600,000Class
B Ordinary Shares, the repurchase and the cancellation of HKD Shares were completed on April 28, 2021.

On December 15, 2021, Lichen executed a special
resolution to change the par value of the ordinary shares from $0.0001to $0.00004. Pursuant to such resolution, the authorized share