Company: WCT
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044576
Chunk: 118

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 118
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 Foreign currency translation adjustment                     —               —          —               —              1,727            1,727  
  BALANCE, December 31, 2022                                  20,000,000      1,000      244,463         682,722        127,558        811,973  
  Settlement of subscription receivables by shareholders      —               —          —               —              —              243,770  
  Net income                                                  —               —          —               937,609        —              937,609  
  Foreign currency translation adjustment                     —               —          —               —              3,542            3,542  
  BALANCE, December 31, 2023                                  20,000,000      1,000      244,463         1,620,331      131,100      1,996,894  
  Net loss                                                    —               —          —               ( 431,544      —            ( 431,544  
  Proceeds from initial public offerings                      1,265,000       63         3,339,520       —              —            3,339,583  
  Foreign currency translation adjustment                     —               —          —               —              7,818            7,818  
  BALANCE, December 31, 2024                                  21,265,000      1,063      3,583,983       1,188,787      138,918      4,912,751  

  The shares and per share data are presented on a retroactive  

The accompanying notes are an integral part of
these consolidated financial statements.

F-6

WELLCHANGE HOLDINGS COMPANY LIMITED

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2022, 2023
AND 2024

                                                                               Years ended December 31,                                  
                                                                                                   2022           2023             2024  
                                                                                                    US$            US$              US$  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  CASH FLOWS FROM OPERATING ACTIVITIES:                                                                                                  
  Net income (loss)                                                                             780,648        937,609        ( 431,544  
  Adjustments to reconcile net income (loss) to net cash provided                                                                        
  Depreciation