Company: XHG
Filing Date: 2025-09-09
Form Type: F-3
Source: 0001213900-25-086186
Chunk: 77

Company: XChange TEC.INC
Filing Date: 2025-09-09
Form: F-3
Chunk 77
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 that, to the extent
permitted by law, ADS holders waive the right to a jury trial of any claim they may have against us or the depositary arising out of or
relating to our shares, the ADSs or the deposit agreement, including any claim under the U.S. federal securities laws. If we or the depositary
opposed a jury trial demand based on the waiver, the court would determine whether the waiver was enforceable in the facts and circumstances
of that case in accordance with applicable case law.

You will not, by agreeing to the terms of the
deposit agreement, be deemed to have waived our or the depositary’s compliance with U.S. federal securities laws or the rules and
regulations promulgated thereunder.

<div align='center'>DESCRIPTION OF PREFERRED SHARES</div>

Subject to the provisions of the Companies Act
and in our existing memorandum and articles of association, our board of directors has the authority, without further action by our shareholders,
to issue preferred shares in one or more classes or series and to fix their designations, powers, preferences, privileges, and relative,
participating, optional and other rights and the qualifications, limitations or restrictions, including dividend rights, conversion rights,
voting power, redemption privileges, and liquidation preferences, any or all of which may be greater than the rights associated with our
ordinary shares. Preferred shares could be issued quickly with terms calculated to delay or prevent a change in control of our company
or make removal of management more difficult. Although we do not currently intend to issue any preferred shares, we cannot assure you
that we will not do so in the future.

The material terms of any series of preferred
shares that we offer, together with any material U.S. federal income tax considerations relating to such preferred shares, will be described
in the applicable prospectus supplement.

Holders of our preferred shares are entitled to
certain rights and subject to certain conditions as set forth in our currently effective memorandum and articles of association and the
Companies Act. See “Description of Share Capital.”

<div align='center'>41

DESCRIPTION OF WARRANTS</div>

We may issue and offer warrants under the material
terms and conditions described in this prospectus and any accompanying prospectus supplement. The accompanying prospectus supplement may
add, update or change the terms and conditions of the warrants as described in this prospectus.

General

We may issue warrants to purchase our ADSs, Class
A ordinary shares, preferred shares or debt securities. W