Company: WCT
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044576
Chunk: 117

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 117
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, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ WWC, P. C.

WWC, P. C.
Certified Public Accountants
PCAOB ID: 1171

We have served as the Company’s auditor from November 1, 2022
to December 2, 2024.
San Mateo, California

June 10, 2024

F-3

WELLCHANGE HOLDINGS COMPANY LIMITED

CONSOLIDATED BALANCE SHEETS

AS OF DECEMBER 31, 2023 AND 2024

                                                                                                                                                                                                              As of December 31,                                          
                                                                                                                                                                                                   Notes      2023                                   2024                 
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                                                                                                                                                              US$                                    US$                  
  ASSETS                                                                                                                                                                                                                                                                  
  Current assets:                                                                                                                                                                                                                                                         
  Cash and cash equivalents                                                                                                                                                                                                              12,783                  250,312  
  Accounts receivable, net                                                                                                                                                                             4                                720,245                  452,823  
  Deposits, prepayments and other receivables, net                                                                                                                                                                                       36,510                  875,823  
  Amount due from a director                                                                                                                                                                          15                                 18,414                        —  
  Total current assets                                                                                                                                                                                                                  787,952                1,578,958  
  Non-current assets:                                                                                                                                                                                                                                                     
  Property and equipment, net                                                                                                                                                                          5                                110,486                   70,359  
  Intangible assets, net                                                                                                                                                                               6                              1,500,264                4,220,021  
  Right-of-use assets, net                                                                                                                                                                            11                                 84,883                  167,723  
  Investment, net                                                                                                                                                                                      7                                  5,820                    6,029  
  Rental deposit, net                                                                                                                                                                                                                         —                   32,068  
  Prepayments for acquisition of intangible assets                                                                                                                                                                                      128,000                        —  
  Deferred offering costs                                                                                                                                                                                                               680,090                  620,193  
  Total non-current assets