Company: XHG
Filing Date: 2025-10-29
Form Type: F-3/A
Source: 0001213900-25-103499
Chunk: 79

Company: XChange TEC.INC
Filing Date: 2025-10-29
Form: F-3/A
Chunk 79
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 provisions of our existing memorandum and articles of association or similar documents,
to vote or to have its agents vote the shares or other deposited securities as instructed by ADS holders. If we do not request the depositary
to solicit your voting instructions, you can still send voting instructions, and, in that case, the depositary may try to vote as you
instruct, but it is not required to do so.

<div align='center'>39</div>

Except by instructing the depositary as described
above, you won’t be able to exercise voting rights unless you surrender your ADSs and withdraw the shares. However, you may not
know about the meeting enough in advance to withdraw the shares. In any event, the depositary will not exercise any discretion in voting
deposited securities and it will only vote or attempt to vote as instructed.

We cannot assure you that you will receive the
voting materials in time to ensure that you can instruct the depositary to vote your shares. In addition, the depositary and its agents
are not responsible for failing to carry out voting instructions or for the manner of carrying out voting instructions. This means that
you may not be able to exercise voting rights and there may be nothing you can do if your shares are not voted as you requested.

In order to give you a reasonable opportunity
to instruct the depositary as to the exercise of voting rights relating to deposited securities, if we request the Depositary to act,
we agree to give the depositary notice of any such meeting and details concerning the matters to be voted upon at least 45 days in advance
of the meeting date.

Fees and Expenses

An ADS holder will be required to pay the following
fees under the terms of the deposit agreement:

| Persons depositing or withdrawing shares or ADS holders must pay:                                                                                         |     | For:                                                                                                                                               |
| US$5.00 (or less) per 100 ADSs (or portion of 100 ADSs)                                                                                                   |     | Issuance of ADSs, including issuances resulting                                                                                                    
 from a distribution of shares or rights or other property                                                                                          
 Cancelation of ADSs for the purpose of withdrawal,                                                                                                 
 including if the deposit agreement terminates                                                                                                      |
| US$.05 (or less) per ADS                                                                                                                                  |     | Any cash distribution to ADS holders                                                                                                               |
| A fee equivalent to the fee that would be payable if securities distributed to you had been shares and the shares had been deposited for issuance of ADSs