Company: WCT
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044576
Chunk: 75

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-05-16
Form: 20-F
Item: Item 7
Chunk 75
---
ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

7. A. Major Shareholders

See “Item 6. Directors, Senior Management
and Employees - E. Share Ownership” for a description of our major shareholders.

7. B. Related Party Transactions

Relationships with related parties

  Name                                                                       Relationship                                                                    
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Mr. Shek Kin Pong                                                          Chairman and Executive Director of the Company and the Controlling Shareholder  
  Super Power Tech Limited (previously known as Mr. Cloud App Limited)*      Entity controlled by Mr. Shek Kin Pong                                          
  Chill Out (Hong Kong) Company Limited                                      Entity controlled by Mr. Shek Kin Pong                                          

The balances with related parties consist of the
following:

                                                 As of December 31,                                             As of June 30,                           
  Name                                           Nature                  2021                                             2023                           
                                                                                         US$           US$                          US$         US$      
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Mr. Shek Kin Pong (1)                          Fund transfer                     1,066,392        38,878                          18,414      145,367  
  Super Power Tech Limited (2)                   Fund transfer                      (195,016      (135,040                          —           —        
  Chill Out (Hong Kong) Company Limited (3)      Fund transfer                      (504,778      (245,037                          —           —        

  (1)      The balances with related parties are unsecured, interest               

  (2)      The balances with related parties are unsecured, interest               

  (3)      The balances with related parties are unsecured, interest               

The Company does not have significant related
party transactions incurred during the years ended December 31, 2023 and 2024.

Remuneration to senior management for the years
ended December 31, 2022, 2023 and 2024 were:

                                                        Years ended December 31,                                                            
                                                        2022                                      2023                   2024               
                                                        US$                                       US$                    US$                
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Salaries and other short term employee benefits                                     84,570