Company: XHG
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005499
Chunk: 209

Company: XChange TEC.INC
Filing Date: 2025-01-22
Form: 20-F
Item: Item 19
Chunk 209
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09,
which is an update to Topic 740, Income Taxes. The amendments in this update related to the rate reconciliation and income taxes paid
disclosures improve the transparency of income tax disclosures by requiring (1) adding disclosures of pretax income (or loss) and income
tax expense (or benefit) to be consistent with U. S. Securities and Exchange Commission (SEC) Regulation S-X 210.4-08(h), Rules of General
Application - General Notes to Financial Statements: Income Tax Expense, and (2) removing disclosures that no longer are considered
cost beneficial or relevant. For public business entities, the amendments in this Update are effective for annual periods beginning after
December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December
15, 2025. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The
amendments in this Update should be applied on a prospective basis. Retrospective application is permitted.

In October 2023, the FASB issued ASU 2023-06,
Disclosure Improvements - codification amendments in response to SEC’s disclosure Update and Simplification initiative which
amend the disclosure or presentation requirements of codification subtopic 230-10 Statement of Cash Flows - Overall, 250-10 Accounting
Changes and Error Corrections - Overall, 260-10 Earnings Per Share - Overall, 270-10 Interim Reporting - Overall, 440-10
Commitments - Overall, 470-10 Debt - Overall, 505-10 Equity - Overall, 815-10 Derivatives and Hedging - Overall, 860-30
Transfers and Servicing - Secured Borrowing and Collateral, 932-235 Extractive Activities - Oil and Gas - Notes to Financial
Statements, 946-20 Financial Services - Investment Companies - Investment Company Activities, and 974-10 Real Estate - Real
Estate Investment Trusts - Overall. The amendments represent changes to clarify or improve disclosure and presentation requirements
of above subtopics. Many of the amendments allow users to more easily compare entities subject to the SEC’s existing disclosures
with those entities that were not previously subject to the SEC’s requirements. Also, the amendments align the requirements in the
Codification with the SEC’s regulations. For entities subject to existing SEC disclosure requirements or those that must provide
financial statements to the SEC for securities purposes without