Company: WCT
Filing Date: 2025-10-07
Form Type: DRS
Source: 0001213900-25-096917
Chunk: 3

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-10-07
Form: DRS
Chunk 3
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 Cayman Islands with no material operations of its own, and we conduct all our operations in Hong
Kong through Wching Tech Ltd Co. Limited or Wching HK. References to the “Company,” “we,” “us,” and
“our” in the prospectus are to Wellchange Holdings Company Limited, the Cayman Islands entity that will issue the Class A
Ordinary Shares being offered, and its subsidiaries. References to “Wching HK” or “Operating Subsidiary” are to
our sole operating subsidiary as of the date of this prospectus. This is an offering of the Class A Ordinary Shares of Wellchange Holdings
Company Limited, the holding company in the Cayman Islands, instead of the shares of Wching HK. Investors in this offering may never directly
hold any equity interests in Wching HK.

Investing in our Class A Ordinary Shares involves a high degree of risk, including the risk of losing your entire investment. See “Item 3.D. Risk Factors” which is
incorporated by reference from the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2024, as filed with
the U.S. Securities and Exchange Commission (the “SEC”) on May 16, 2025 (File No. 001-42294) (“2024 Annual Report”).

All of our operations are conducted by our indirect
wholly owned Operating Subsidiary in Hong Kong, a special administrative region of the People’s Republic of China (“China”
or the “PRC”), with its own governmental and legal system that is independent from Mainland China, including having its own
distinct laws and regulations. We do not have any operation or maintain office or personnel in Mainland China, Furthermore, none of our
customers and suppliers are located in Mainland China. We currently do not have or intend to set up any subsidiary in Mainland China,
and do not foresee the need to enter into any contractual arrangements with a variable interest entity (“VIE”) to establish
a VIE structure in Mainland China. As of the date of this prospectus, as advised by Khoo & Co., our counsel as to the laws of
Hong Kong, we are not subject to the PRC government’s direct influence or discretion over the manner in which we conduct our
business activities outside of the PRC.

However, due to long-arm provisions under
the current PRC laws and regulations, there remains regulatory uncertainty with respect to the implementation