Company: XHG
Filing Date: 2025-10-29
Form Type: F-3/A
Source: 0001213900-25-103499
Chunk: 100

Company: XChange TEC.INC
Filing Date: 2025-10-29
Form: F-3/A
Chunk 100
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 the Supreme Court of the State of New York in the County of New York in connection
with any offering we may make under this prospectus and any applicable prospectus supplement under the securities laws of the State of
New York.

Conyers Dill & Pearman, our counsel as to
Cayman Islands law, and Beijing Kingdom Law Firm, our counsel as to PRC law, have advised us, respectively, that there is uncertainty
as to whether the courts of the Cayman Islands and China, respectively, would:

| ● | recognize or enforce judgments                                                                                                        
 of U.S. courts obtained against us or our directors or officers predicated upon the civil liability provisions of the securities laws 
 of the United States or any state in the United States; or                                                                            |

| ● | entertain original actions                                                                                                               
 brought in each respective jurisdiction against us or our directors or officers predicated upon the securities laws of the United States 
 or any state in the United States.                                                                                                       |

We have been advised by our Cayman Islands legal
counsel, Conyers Dill & Pearman, that the courts of the Cayman Islands are unlikely (i) to recognize or enforce against us judgments
of courts of the United States predicated upon the civil liability provisions of the securities laws of the United States or any state
in the United States; and (ii) in original actions brought in the Cayman Islands, to impose liabilities against us predicated upon the
civil liability provisions of the securities laws of the United States or any state in the United States, so far as the liabilities imposed
by those provisions are penal in nature. The courts of the Cayman Islands would recognize as a valid judgment, a final and conclusive
judgment in personam obtained in the United States Courts against our company under which a sum of money is payable (other than a sum
of money payable in respect of multiple damages, taxes or other charges of a like nature or in respect of a fine or other penalty) or,
in certain circumstances, an in personam judgment for non-monetary relief, and would give a judgment based thereon provided that (a) such
courts had proper jurisdiction over the parties subject to such judgment, (b) such courts did not contravene the rules of natural justice
of the Cayman Islands, (c) such judgment was not obtained by fraud, (d) the enforcement of the judgment would not be contrary to the public
policy of the Cayman Islands, (e) no new admissible