Company: WCT
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044576
Chunk: 146

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 146
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 of December 31,                                     
                                   2023                                2024               
 ──────────────────────────────────────────────────────────────────────────────────────────
                                   US$                                 US$                
  Operating lease liabilities                                                             
  Current portion                                          84,883                 90,199  
  Non-current portion                                      —                      77,524  
  Total                                                    84,883                167,723  

During the years ended December 31,
2022, 2023 and 2024, the Company incurred lease expenses of approximately US$34,199, US$102,699and US$101,501, respectively.

Other supplemental information about the Company’s
operating lease as of December 31, 2023 and 2024:

                                                     As of December 31,                                
                                                                   2023                2024            
 ───────────────────────────────────────────────────────────────────────────────────────────────────────
  Operating leases:                                                                                    
  Weighted average remaining lease term (years)                              0.83                1.83  
  Weighted average discount rate                                             2.75                3.38  

The maturity analysis of the Company’s undiscounted
non-cancellable operating lease obligations as of December 31, 2024 is as follows:

                                                                      Operating  
                                                                            US$  
  Year ending December 31, 2025                                          94,208  
  Year ending December 31, 2026                                          78,507  
  Total undiscounted lease obligations                                  172,715  
  Less: imputed interest                                                ( 4,992  
  Lease liabilities recognized in the consolidated balance sheet        167,723  

12.
Shareholders’ equity

Ordinary shares

The Company was incorporated as an exempted company
with limited liability under the laws of the Cayman Islands on July 13, 2023. The authorized share capital of the Company was US$50,000divided into50,000ordinary shares with a par value of US$1.00each at the date of incorporation. During July and September 2023,
the Group performed a series of Group Reorganization (detailed in Note 1) and1,000issued and outstanding ordinary shares.

On January 26, 2024, the Company effected
a4,000-for-1share split of the Company’s ordinary shares. On February 8, 2024, the Company further effected a5-for-1share
split of the Company’s ordinary shares