Company: XHG
Filing Date: 2025-09-09
Form Type: F-3
Source: 0001213900-25-086186
Chunk: 12

Company: XChange TEC.INC
Filing Date: 2025-09-09
Form: F-3
Chunk 12
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 industry results
in significant uncertainties for any projections or estimates relating to the growth prospects or future condition of our market. Furthermore,
if any one or more of the assumptions underlying the market data are later found to be incorrect, actual results may differ from the projections
based on these assumptions. You should not place undue reliance on these forward-looking statements.

The forward-looking statements made in this prospectus,
any accompanying prospectus supplement and the documents that we reference in this prospectus relate only to events or information as
of the date on which the statements are made in the respective documents. You should not rely upon forward-looking statements as predictions
of future events. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether
as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence
of unanticipated events.

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OUR COMPANY</div>

Overview

We acquired Alpha Mind, an insurance agency and
insurance technology business in the PRC, on December 28, 2023, and conduct insurance agency and insurance technology businesses in the
PRC through the Current WFOE and Current VIEs which provides a wide variety of insurance products underwritten by major insurance companies,
including industry leading and/or state-owned property and casualty insurance companies as well as certain regional property and casualty
insurance companies in China. Through the Current VIEs, we hold the insurance agent operating license which is required under applicable
PRC laws to conduct insurance agency business in China.

As an insurance agency, we are not involved in
underwriting insurance policies. We are committed to providing insurance purchasers with comprehensive services, spanning from application
to claim settlement, through our professional and dedicated approach. We have accumulated substantial expertise and successfully expanded
our insurance product portfolio to encompass a wide range of offerings. These include life, health, group accident, and various other
property-related insurances. Leveraging the growing ubiquity of mobile internet, we introduced the SaaS platform in 2023. This technological
advancement has streamlined and popularized our insurance agency business, enhancing accessibility and convenience for our customers.

Our role as an insurance agent is mainly to facilitate
insurance companies to promote market penetration of their products through our extensive nationwide sales network. Insurance companies
may leverage our marketing network to promote their products with cost efficiency rather than having to build a marketing network of their
own. With respect to end customers, or insurance purchasers,