Company: XHG
Filing Date: 2025-09-09
Form Type: F-3
Source: 0001213900-25-086186
Chunk: 33

Company: XChange TEC.INC
Filing Date: 2025-09-09
Form: F-3
Chunk 33
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 and/or Hong Kong or our PRC and/or Hong Kong entities, such funds and/or assets may not be available to fund operations or for other use outside of the PRC and/or Hong Kong due to interventions in or the imposition of restrictions and limitations on the ability of us or our subsidiaries by the PRC government to transfer cash and/or assets. The cash transfer among the holding company, XChange TEC.INC, its subsidiaries and the consolidated VIE is typically transferred through payment for intercompany services or intercompany borrowings between the holding company, XChange TEC.INC, its subsidiaries and the consolidated VIE. There are no tax consequences for intercompany borrowings or the payment for intercompany services, except for the standard value added taxes and/or income taxes for the revenues and/or profits generated from such services. During the six months ended March 31, 2025, cash and other asset transfers between the holding company, XChange TEC.INC, its subsidiaries, and the consolidated VIE were as follows:

| During the Six Months Ended March 31, 2025 |     |                 |     |             |            |     |                                                 |
|:-------------------------------------------|:----|:----------------|:----|:------------|-----------:|:----|:------------------------------------------------|
| Transfer                                   
 From                                       |     | Transfer To     |     | Approximate 
 Value (RMB) |            |     | Type                                            |
| Alpha Mind HK                              |     | XChange TEC.INC |     |             | 60,230,610 |     | Paid notes payable on behalf of XChange TEC.INC |

Other than disclosed above, there were no cash or other asset transfers during the six months ended March 31, 2025 between the holding company, XChange TEC.INC, its subsidiaries, and the consolidated VIE. Selected Financial Data Financial Information Related to the VIE The following tables present the disaggregated condensed consolidating schedules of financial position as of March 31, 2025 and the disaggregated condensed consolidating schedules of cash flows and results of operations for the six months ended March 31, 2025 of all of the entities that are consolidated in the consolidated financial statements included elsewhere in prospectus, which are the following entities: XChange TEC.INC, Subsidiaries (other than WFOE), WFOE, and the VIE and their subsidiaries which is the primary beneficiary of the VIE for accounting purposes.

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