Company: WCT
Filing Date: 2025-12-02
Form Type: F-1
Source: 0001213900-25-116978
Chunk: 20

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-12-02
Form: F-1
Chunk 20
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 Basic Law expressly provides that the national laws of the PRC, which may be listed in Annex III
of the Basic Law shall be confined to those relating to defense and foreign affairs as well as other matters outside the autonomy of Hong Kong.
The basic policies of the PRC regarding Hong Kong as a special administrative region of the PRC are reflected in the Basic Law, providing
Hong Kong with a high degree of autonomy and executive, legislative and independent judicial powers, including that of final adjudication
under the principle of “one country, two systems.”

In light of China’s recent expansion of
authority in Hong Kong, there are risks and uncertainties which we cannot foresee for the time being, and rules, regulations and
the enforcement of laws in China can change quickly with little or no advance notice. If there is a significant change to current political
arrangements between Mainland China and Hong Kong, we may be subject to uncertainty about any future actions of the PRC government
or authorities in Hong Kong, and it is possible that all the legal and operational risks associated with being based in and having
operations in the PRC may also apply to operations in Hong Kong in the future. There is no assurance that there will not be any changes
in the economic, political and legal environment in Hong Kong in the future. The PRC government may intervene or influence our current
and future operations in Hong Kong at any time, or may exert more control over offerings conducted overseas and/or foreign investment
in issuers like ourselves. Such governmental actions, if and when occur: (i) could significantly limit or completely hinder our ability
to continue our operations; (ii) could significantly limit or hinder our ability to offer or continue to offer our Class A Ordinary
Shares to investors; and (iii) may cause the value of our Class A Ordinary Shares to significantly decline or be worthless.

We are aware that, recently, the PRC government
initiated a series of regulatory actions and statements to regulate business operations in certain areas in Mainland China, including
cracking down on illegal activities in the securities market, enhancing supervision over Mainland China-based companies listed overseas
using a variable interest entity structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts
in anti-monopoly enforcement. For example, on June 10, 2021, the Standing Committee of the National People’s Congress enacted
the PRC Data Security Law, which took effect on September 1, 2021. The law requires data