Company: XHG
Filing Date: 2025-10-29
Form Type: F-3/A
Source: 0001213900-25-103499
Chunk: 60

Company: XChange TEC.INC
Filing Date: 2025-10-29
Form: F-3/A
Chunk 60
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We intend to use the net proceeds from the sale
of the securities as set forth in the applicable prospectus supplement.

<div align='center'>CAPITALIZATION AND INDEBTEDNESS</div>

Our capitalization and indebtedness will be set
forth in a prospectus supplement to this prospectus or in a report subsequently furnished to the SEC and specifically incorporated herein
by reference.

<div align='center'>DESCRIPTION OF SHARE CAPITAL</div>

We are a Cayman Islands exempted company with
limited liability and our corporate affairs are governed by our amended and restated memorandum and articles of association, as amended
from time to time and the Companies Act (2023 Revision), as amended and revised of the Cayman Islands (the “Companies Act”),
and the common law of the Cayman Islands.

As of the date of this prospectus, our authorized
share capital is US$500,000,000 divided into 5,000,000,000,000,000 ordinary shares with a par value of US$0.0000001 each, consisting of
4,374,500,000,000,000 Class A ordinary shares represented by 1,822,708,333,333 ADSs and 625,000,000,000,000 Class B ordinary shares.,
and 500,000,000,000 preferred shares, of which 123,715,022,675 ordinary shares are issued and outstanding.

Our Fourth Amended and Restated Memorandum and Sixth Amended and Restated Articles of Association

The following are summaries of material provisions
of our fourth amended and restated memorandum and sixth amended and restated articles of association and the Companies Act insofar as
they relate to the material terms of our Class A ordinary shares and Class B ordinary shares. You should read the forms of our current
memorandum and articles of association filed with the SEC. For information on how to obtain copies of our current memorandum and articles
of association, see “Where You Can Find More Information About Us.”

Ordinary Shares

General

Our ordinary shares are divided into Class A ordinary
shares and Class B ordinary shares. Holders of our Class A ordinary shares and Class B ordinary shares have the same rights except for
voting and conversion rights. Our ordinary shares are issued in registered form and are issued when registered in our register of members.
Our shareholders who are non-residents of the Cayman Islands may freely hold and vote their shares.

Conversion

Each Class B ordinary share is convertible into
one