Company: XHG
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005499
Chunk: 12

Company: XChange TEC.INC
Filing Date: 2025-01-22
Form: 20-F
Item: Item 3
Chunk 12
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 payment for intercompany services, except for the standard value added taxes and/or
income taxes for the revenues and/or profits generated from such services.

During the fiscal year ended
September 30, 2024, cash and other asset transfers between the holding company, XChange TEC. INC, its subsidiaries, and the consolidated
VIE were as follows:

  During the Fiscal Year Ended September 30, 2024                                                                         
  Transfer                                             Transfer To           Approximate                   Type           
  From                                                                       Value (RMB)                                  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Alpha Mind HK                                        Xchange TEC. INC                       561,408      Cash Transfer  

Other than disclosed above, there were no cash
or other asset transfers during the fiscal years ended September 30, 2023 between the holding company, Xchange TEC. INC, its subsidiaries,
and the consolidated VIE.

  A                            [Reserved]  
  Selected Financial Data                  
 ───────────────────────────────────────────

Financial Information Related to the
VIE

The following tables present
the disaggregated condensed consolidating schedules of financial position as of September 30, 2024 and the disaggregated condensed consolidating
schedules of cash flows and results of operations for the years ended September 30, 2024 of all of the entities that are consolidated
in the consolidated financial statements included elsewhere in this annual report, which are the following entities: Xchange TEC. INC,
Alpha Mind HK, the VIE and its consolidated subsidiaries, and Alpha Mind WFOE which is the primary beneficiary of the VIE for accounting
purposes.

                                                                For the Year Ended September 30, 2024                                                                                   
  Condensed                                                     XChange                                                                                                                 
  Consolidating Schedule of Financial Position                  TEC. INC                                                                                                                
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                (RMB in thousands)                                                                                                      
  Cash and cash equivalents                                                                                —               502         92           7,491      —                 8,085  
  Short-term investment                                                                                    —               —           —            2,032      —                 2,032  
  Accounts receivable, net                                                                                 —               —           —           36,276      —                36,276  
  Advances to suppliers                                                                                    7,017           —           22           6,706