Company: WCT
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044576
Chunk: 45

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-05-16
Form: 20-F
Item: Item 4A
Chunk 45
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 marketing expenses for the year
ended December 31, 2024, increase by US$645,687 or 100.0% from Nil for the year ended December 31, 2023 to US$645,687 for the
year ended December 31, 2024 was mainly due to the increase in advertising expenses in 2024.

The legal and professional fee increase by US$249,145
or 66.5% from US$374,594 for the year ended December 31, 2023 to US$623,739 for the year ended December 31, 2024 was mainly due to increase
in fee on the acquisition of new target company.

The provision of expected credit losses increased
by US$297,675 or 2,147.1% from US$13,864 for the year ended December 31, 2023 to US$311,539 for the year ended December 31, 2024 was mainly
due to the increase in provision on long outstanding account receivables.

Other income (expense), net

For the years ended December 31, 2023 and 2024, total other
expense, net was US$14,798 and US$28,114, respectively. The other income (expenses) mainly represented the interest income and investment
(loss) gain for investment, interest expense on bank borrowings, government subsidies and foreign exchange. Increase in other expense,
net is mainly due to the increase in foreign exchange by US$30,813 or 100.0% from Nil for year ended December 31, 2023 to US$30,813 for
year ended December 31, 2024.

Income tax

We are subject to income tax on an entity basis
on profit arising in or derived from the jurisdiction in which members of our Group domicile or operate.

Cayman Islands

The Cayman Islands currently levy no taxes on
individuals or corporations based upon profits, income, gains or appreciations and there is no taxation in the nature of inheritance tax
or estate duty. There are no other taxes likely to be material to the Company levied by the Government of the Cayman Islands save for
certain stamp duties which may be applicable, from time to time, on certain instruments.

BVI

Victory Hero is incorporated in the BVI and is
not subject to tax on income or capital gains under current BVI law. In addition, upon payments of dividends by these entities to their