Company: XHG
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005499
Chunk: 176

Company: XChange TEC.INC
Filing Date: 2025-01-22
Form: 20-F
Item: Item 16G
Chunk 176
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ITEM
16G. CORPORATE GOVERNANCE

As
a Cayman Islands company listed on the NASDAQ Capital Market, we are subject to the NASDAQ Capital Market corporate governance listing
standards. However, NASDAQ Capital Market rules permit a foreign private issuer like us to follow the corporate governance practices
of its home country. Certain corporate governance practices in the Cayman Islands, which is our home country, may differ significantly
from the NASDAQ Capital Market corporate governance listing standards. We opt to follow our home country practices and rely on certain
exemptions provided by the NASDAQ Capital Market corporate governance listing standards to a foreign private issuer, including exemptions
from the requirements to have:

  majority of independent               

  a minimum of three members in our audit committee;  

  only independent directors being involved in the selection                 

  regularly scheduled executive sessions of independent  

  a quorum of annual general meeting which is no less  

  shareholder approval prior to an issuance of securities                                                                           

As
a result of our reliance on the corporate governance exemptions available to foreign private issuers, holders of our ADSs will not have
the same protection afforded to shareholders of companies that are subject to all of NASDAQ Capital Market corporate governance requirements.

ITEM
16H. MINE SAFETY DISCLOSURE