Company: WCT
Filing Date: 2025-10-07
Form Type: DRS
Source: 0001213900-25-096917
Chunk: 68

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-10-07
Form: DRS
Chunk 68
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 significant volatility since their initial public offerings, including, in some cases, substantial
price declines in the trading prices of their securities. The trading performances of other Hong Kong and Chinese companies’ securities
after their offerings may affect the attitudes of investors towards Hong Kong-based U.S. - listed companies, which consequently may affect
the trading performance of our Class A Ordinary Shares, regardless of our actual operating performance. In addition, any negative news
or perceptions about inadequate corporate governance practices or fraudulent accounting, corporate structure or matters of other Hong
Kong and Mainland Chinese companies may also negatively affect the attitudes of investors towards Hong Kong and Mainland Chinese companies
in general, including us, regardless of whether we have conducted any inappropriate activities. Furthermore, securities markets may, from
time-to-time experience significant price and volume fluctuations that are not related to our operating performance, which may have a
material and adverse effect on the trading price of our Class A Ordinary Shares.

In addition to the above factors, the price and
trading volume of our Class A Ordinary Shares may be highly volatile due to multiple factors, including the following:

| ● | regulatory developments affecting 
 us or our industry;               |

| ● | variations in our revenues, 
 profit, and cash flow;      |

| ● | the general market reactions                                                    
 and financial market fluctuation due to the continuous Russo-Ukraine conflicts; |

| ● | new product and service introductions 
 by our competitors;                   |

| ● | technical difficulties, defects, 
 or interruptions in our service; |

| ● | general economic, political,                                                                                                      
 and social conditions in Hong Kong that may adversely affect either our existing customers’ ability or willingness to renew their 
 subscription, purchase additional subscriptions or upgrade their service, delay a prospective customer’s purchasing decision, or  
 reduce the value of new subscription;                                                                                             |

| ● | actual or anticipated fluctuations                                             
 in our results of operations and changes or revisions of our expected results; |

| ● | fluctuations of exchange rates                         
 among Hong Kong dollar, Renminbi, and the U.S. dollar; |

| ● | changes in financial estimates   
 by securities research analysts; |

| ● | detrimental negative publicity                                                                                                           
 about us, our services, our officers, directors, controlling shareholder, other beneficial owners, professional parties we partner with, 
 or our industry;                                                                                                                         |

| ● | announcements by us or our                                                                                                            
 competitors of new service offerings, acquisitions, strategic relationships, joint ventures, capital raisings or capital commitments; |