Company: WCT
Filing Date: 2025-12-02
Form Type: F-1
Source: 0001213900-25-116978
Chunk: 54

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-12-02
Form: F-1
Chunk 54
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one country, two systems.” However, there is no assurance that there will not
be any changes in the economic, political and legal environment in Hong Kong in the future. Since all of our Operating Subsidiary’s
operations are based in Hong Kong, any change of such political arrangements may pose an immediate threat to the stability of the
economy in Hong Kong, thereby directly and adversely affecting our results of operations and financial positions.

Under the Basic Law of the Hong Kong Special
Administrative Region of the People’s Republic of China, Hong Kong is exclusively in charge of its internal affairs and external
relations, while the government of the PRC is responsible for its foreign affairs and defense. As a separate customs territory, Hong Kong
maintains and develops relations with foreign states and regions. Based on certain recent development, including the Law of the People’s
Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region issued by the Standing Committee
of the PRC National People’s Congress in June 2020, the U.S. State Department has indicated that the United States
no longer considers Hong Kong to have significant autonomy from China and President Trump signed an executive order and Hong Kong
Autonomy Act, or HKAA, to remove Hong Kong’s preferential trade status and to authorize the U.S. administration to impose
blocking sanctions against individuals and entities who are determined to have materially contributed to the erosion of Hong Kong’s
autonomy. The United States may impose the same tariffs and other trade restrictions on exports from Hong Kong that it places
on goods from Mainland China. These and other recent actions may represent an escalation in political and trade tensions involving the
U.S., China and Hong Kong, which could potentially harm our business.

Our revenue is susceptible to ongoing incidents
or factors which affect the stability of the social, economic and political conditions in Hong Kong. Any drastic events may adversely
affect our Operating Subsidiary’s business operations. Such adverse events may include changes in economic conditions and regulatory
environment, social and/or political conditions, civil disturbance, or disobedience, as well as significant natural disasters. Given the
relatively small geographical size of Hong Kong, any of such incidents may have a widespread effect on our Operating Subsidiary’s
business operations, which could in turn, adversely and materially affect our business, results of operations and financial condition.
It is difficult to predict the full impact of the HKAA on Hong Kong and companies with operations in Hong Kong like us