Company: WCT
Filing Date: 2025-12-05
Form Type: 424B3
Source: 0001213900-25-118563
Chunk: 23

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-12-05
Form: 424B3
Chunk 23
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 operations and the continued listing of our
Class A Ordinary Shares in the U.S. could be subject to cybersecurity review by the Cyberspace Administration of China, or the CAC,
in the future.

As confirmed by our Hong Kong counsel, pursuant
to the Basic Law of the Hong Kong Special Administrative Region, or the Basic Law, which is a national law of the PRC and the constitutional
document for Hong Kong, national laws of the PRC shall not be applied in Hong Kong except for those listed in Annex III
of the Basic Law (which shall be confined to laws relating to defense and foreign affairs as well as other matters outside the autonomy
of Hong Kong).Whilst the National People’s Congress of the PRC, or the NPC, has the power to amend the Basic Law, the Basic
Law also expressly provides that no amendment to the Basic Law shall contravene the established basic policies of the PRC regarding Hong Kong.
As a result, national laws of the PRC not listed in Annex III of the Basic Law, including the PRC Data Security Law, The Measures
for Cybersecurity Review (2021 Version) and the Regulations on Network Data Security Protection (Draft for Comments) do not apply to our
businesses in Hong Kong.

However, since these laws, regulations and regulatory
actions are new, it is highly uncertain how soon the legislative or administrative regulation making bodies will respond and what existing
or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any. It is also highly
uncertain what the potential impact such modified or new laws and regulations will have on our Operating Subsidiary’s daily business
operation and the continued listing of our Class A Ordinary Shares on a United States or other foreign exchanges. Since the Trial
Measures was newly promulgated, its interpretation, application and enforcement remain unclear and there also remains significant uncertainty
as to the enactment, interpretation and implementation of other regulatory requirements related to overseas securities offerings and other
capital markets activities. If the Trial Administrative Measures become applicable to us or our Operating Subsidiary in Hong Kong,
if our Operating Subsidiary is deemed to be an “Operator,” or if the Measures for Cybersecurity Review (2021) or the
PRC Personal Information Protection Law become applicable to the Operating Subsidiary in Hong Kong, the business operation of the
Operating Subsidiary and the continued listing of our Class A Ordinary Shares in the United States could be subject to the C