Company: XHG
Filing Date: 2025-09-09
Form Type: F-3
Source: 0001213900-25-086186
Chunk: 50

Company: XChange TEC.INC
Filing Date: 2025-09-09
Form: F-3
Chunk 50
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, the names of Chinese Communist Party, or CCP, members on the board of the
issuer or its operating entities, and whether the issuer’s article’s include a charter of the CCP, including the text of such
charter.

In addition to the issues under the HFCA discussed above, the PCAOB’s inability to conduct inspections in China and Hong Kong prevents it from fully evaluating the audits and quality control procedures of the independent registered public accounting firm. Our current independent registered public accounting firm, Onestop Assurance PAC, is headquartered in Singapore, and has been inspected by the PCAOB on a regular basis with the last inspection in 2022. However, as noted above, recent developments create uncertainty as to the PCAOB’s continued ability to conduct inspections of our independent accounting firm, Onestop Assurance PAC. The inability of the PCAOB to conduct inspections of auditors in China makes it more difficult to evaluate the effectiveness of a China-based independent registered public accounting firm’s audit procedures or quality control procedures as compared to auditors outside of China that are subject to the PCAOB inspections, which could cause investors and potential investors in the stock to lose confidence in the audit procedures and reported financial information and the quality of our financial statements.

<div align='center'>25

USE OF PROCEEDS</div>

We intend to use the net proceeds from the sale
of the securities as set forth in the applicable prospectus supplement.

<div align='center'>CAPITALIZATION AND INDEBTEDNESS</div>

Our capitalization and indebtedness will be set
forth in a prospectus supplement to this prospectus or in a report subsequently furnished to the SEC and specifically incorporated herein
by reference.

<div align='center'>DESCRIPTION OF SHARE CAPITAL</div>

We are a Cayman Islands exempted company with
limited liability and our corporate affairs are governed by our amended and restated memorandum and articles of association, as amended
from time to time and the Companies Act (2023 Revision), as amended and revised of the Cayman Islands (the “Companies Act”),
and the common law of the Cayman Islands.

As of the date of this prospectus, our authorized
share capital is US$500,000,000 divided into 5,000,000,000,000,000 ordinary shares with a par value of US$0.0000001 each, consisting of
4,374,500,000,000,000 Class A ordinary shares represented by 1,822,708,333,333 ADSs and