Company: XHG
Filing Date: 2025-05-13
Form Type: SCHEDULE 13D/A
Source: 0001213900-25-042664
Chunk: 0

Company: XChange TEC.INC
Filing Date: 2025-05-13
Form: SCHEDULE 13D/A
Chunk 0
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00 |
| 12                                                                 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions) |
| 13                                                                 |                                                                               9.59 % |
| 14                                                                 |                                                                                   CO |

Comment for Type of Reporting Person: 1. Represents 11,863,927,890 Class B ordinary shares, par value $0.0000001 per share ("Class B Ordinary Shares") (the "Shares") directly held by Golden Stream Ltd. ("Golden Stream"). Mr. Yong Zhang is the current sole shareholder and sole director of Golden Stream. As disclosed in the Schedule 13D amendment filed by Golden Stream on October 29, 2024, on June 6, 2024, the Issuer adopted an equity incentive plan (the "2024 Plan") and issued thereunder 6,142,789,000,000 Class B Ordinary Shares to Golden Stream, pursuant to which Golden Stream owned a total of 6,392,789,000,000 Class B Ordinary Shares, par value $0.0000001 per share, which became 63,927,890 Class B Ordinary Shares, par value $0.0000001 per share, effective May 9, 2025 as a result of the proposed share consolidation, capital reduction, and share subdivision as disclosed in the report on Form 6-K filed by the Issuer on February 5, 2025. On May 9, 2025, the Issuer adopted an equity incentive plan (the "2025 Plan") and issued thereunder 11,800,000,000 Class B Ordinary Shares to Golden Stream, pursuant to which Golden Stream owns a total of 11,863,927,890 Class B Ordinary Shares, par value $0.0000001. Golden Stream holds the Shares underlying the share-based awards pursuant to the 2024 Plan and the 2025 Plan and will act upon the instructions of a senior management committee of the Issuer consisting of Yong Zhang and Jiaxing Chang determined on a unanimous basis in relation to the voting and, prior to the vesting of the Shares to the relevant grantee of the share-based awards the Company may grant under the 2024 and/or the 2025 Plan, the disposition of the Shares. According to the Sixth Amended and Restated Articles of the Issuer, each Class B ordinary share is convertible into one (1) Class A ordinary share (the Class A ordinary shares and Class B Ordinary Shares, together as