Company: WCT
Filing Date: 2025-12-05
Form Type: 424B3
Source: 0001213900-25-118563
Chunk: 38

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-12-05
Form: 424B3
Chunk 38
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 services, products and other assets. Accordingly, we may
need to engage in equity or debt financings to secure additional funds. Additional financing may not be available on favorable terms,
if at all. If adequate funds are not available on acceptable terms, we may be unable to invest in future growth opportunities, which could
harm our business, operating results and financial condition. If we incur additional debt, the debt holders could have rights senior to
holders of Class A Ordinary Shares to make claims on our assets. If we raise additional funds through future issuances of equity or convertible
debt securities, our shareholders may experience dilution, and the new equity securities could have rights senior to those of our Class
A Ordinary Shares. Because our decision to issue securities in the future offering will depend on numerous considerations, including factors
beyond our control, we cannot predict or estimate the amount, timing or nature of any future issuances of debt or equity securities. As
a result, our shareholders bear the risk of future issuances of debt or equity securities reducing the value of our Class A Ordinary Shares
and diluting their interest.

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Risks Related to Doing Business in Hong Kong

All of our operations are in Hong Kong. However, due to the long-arm application of the current PRC laws and regulations, the PRC government may exercise significant direct oversight and discretion over the conduct of our business and may intervene or influence our operations, which could result in a material change in our operations and/or the value of our Class A Ordinary Shares. Our Class A Operating Subsidiary in Hong Kong may be subject to the laws and regulations of Mainland China, which may impact our ability to operate profitably and result in a material negative impact on our operations and/or the value of our Class A Ordinary Shares. Furthermore, the changes in the policies, laws, regulations, rules, and enforcement of laws of Mainland China may also occur quickly with little advance notice and our assertions and beliefs of the risk imposed by the Mainland China legal and regulatory system cannot be certain.

Wellchange Cayman is a holding company, and we
conduct our operations in Hong Kong through Wching HK, our wholly owned Operating Subsidiary, formed in Hong Kong. Substantially
all our operations are located in Hong Kong and none of our customers or suppliers are located in Mainland China. Our Operating Subsidiary
does not have operations in Mainland China or is not regulated by any regulator in Main