Company: XHG
Filing Date: 2025-09-09
Form Type: F-3
Source: 0001213900-25-086186
Chunk: 58

Company: XChange TEC.INC
Filing Date: 2025-09-09
Form: F-3
Chunk 58
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“Limited liability” means that the
liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company. We are subject to reporting
and other informational requirements of the Exchange Act, as applicable to foreign private issuers. We currently intend to comply with
the Nasdaq rules in lieu of following home country practice. The Nasdaq rules require that every company listed on the Nasdaq hold an
annual general meeting of shareholders. In addition, our amended and restated articles of association allow directors to call special
meeting of shareholders pursuant to the procedures set forth in our articles.

Differences in Corporate Law

The Companies Act is modeled after that of England
and Wales but does not follow recent statutory enactments in England. In addition, the Companies Act differs from laws applicable to United
States corporations and their shareholders. Set forth below is a summary of the significant differences between the provisions of the
Companies Act applicable to us and the laws applicable to companies incorporated in the State of Delaware.

Mergers and Similar Arrangements

A merger of two or more constituent companies
under Cayman Islands law requires a plan of merger or consolidation to be approved by the directors of each constituent company and authorization
by a special resolution of the members of each constituent company.

A merger between a Cayman parent company and its
Cayman subsidiary or subsidiaries does not require authorization by a resolution of shareholders. For this purpose, a company is a “parent”
of a subsidiary if it holds issued shares that together represent at least ninety percent (90%) of the votes of a general meeting of the
subsidiary.

The consent of each holder of a fixed or floating
security interest over a constituent company is required unless this requirement is waived by a court in the Cayman Islands.

Save in certain circumstances, a dissentient shareholder
of a Cayman constituent company is entitled to payment of the fair value of his shares upon dissenting to a merger or consolidation. The
exercise of appraisal rights will preclude the exercise of any other rights save for the right to seek relief on the grounds that the
merger or consolidation is void or unlawful.

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In addition, there are statutory provisions that
facilitate the reconstruction and amalgamation of companies by way of schemes of arrangement, provided that the arrangement is approved
by (i) in the case of a members’ scheme of arrangement, seventy-five percent in value of the members or class of members, as the
case may