Company: XHG
Filing Date: 2025-10-29
Form Type: F-3/A
Source: 0001213900-25-103499
Chunk: 63

Company: XChange TEC.INC
Filing Date: 2025-10-29
Form: F-3/A
Chunk 63
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or to make the transfer;                                            |

| ● | the instrument of transfer                          
 is in respect of only one class of ordinary shares; |

| ● | the instrument of transfer        
 is properly stamped, if required; |

| ● | a fee of such maximum sum as                                                                                                               
 the Nasdaq may determine to be payable or such lesser sum as our directors may from time to time require is paid to us in respect thereof. |

If our directors refuse to register a transfer,
they shall, within three months after the date on which the instrument of transfer was lodged, send to each of the transferor and the
transferee notice of such refusal.

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The registration of transfers may, after compliance
with any notice required of the Nasdaq, be suspended and the register of members closed at such times and for such periods as our board
of directors may from time to time determine, provided, however, that the registration of transfers shall not be suspended nor the register
of members closed for more than 30 days in any year as our board may determine.

Liquidation

On a return of capital on winding up or otherwise
(other than on conversion, redemption or purchase of ordinary shares), assets available for distribution among the holders of ordinary
shares shall be distributed among the holders of the ordinary shares on a pro rata basis. If our assets available for distribution are
insufficient to repay all of the paid-up ordinary share capital, the assets will be distributed so that the losses are borne by our holders
of ordinary shares proportionately.

Calls on Ordinary Shares and Forfeiture of Ordinary Shares

Our board of directors may from time to time make
calls upon shareholders for any amounts unpaid on their ordinary shares in a notice served to such shareholders at least 14 clear days
prior to the specified time of payment. The ordinary shares that have been called upon and remain unpaid are subject to forfeiture.

Redemption of Ordinary Shares

The Companies Act and our existing articles of
association permit us to purchase our own shares. In accordance with our existing articles of association and provided the necessary shareholders
or board approval have been obtained, we may issue shares on terms that are subject to redemption, at our option or at the option of the
holders of these shares, on such terms and in such manner, including out of capital, as may be determined by our board of directors.

Variations of Rights of Shares

All or any of the special rights attached to any
class of shares may, subject to the provisions