Company: XHG
Filing Date: 2025-10-29
Form Type: F-3/A
Source: 0001213900-25-103499
Chunk: 67

Company: XChange TEC.INC
Filing Date: 2025-10-29
Form: F-3/A
Chunk 67
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 and exempted
companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands may apply to
be registered as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except
for the exemptions and privileges listed below:

| ● | an exempted company does not                                                       
 have to file an annual return of its shareholders with the Registrar of Companies; |

| ● | an exempted company’s                          
 register of members is not open to inspection; |

| ● | an exempted company does not            
 have to hold an annual general meeting; |

| ● | an exempted company may issue 
 no par value shares;          |

| ● | an exempted company may obtain                                                                                                         
 an undertaking against the imposition of any future taxation (such undertakings are usually given for 20 years in the first instance); |

| ● | an exempted company may register                                                          
 by way of continuation in another jurisdiction and be deregistered in the Cayman Islands; |

| ● | an exempted company may register   
 as a limited duration company; and |

| ● | an exempted company may register   
 as a segregated portfolio company. |

“Limited liability” means that the
liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company. We are subject to reporting
and other informational requirements of the Exchange Act, as applicable to foreign private issuers. We currently intend to comply with
the Nasdaq rules in lieu of following home country practice. The Nasdaq rules require that every company listed on the Nasdaq hold an
annual general meeting of shareholders. In addition, our amended and restated articles of association allow directors to call special
meeting of shareholders pursuant to the procedures set forth in our articles.

Differences in Corporate Law

The Companies Act is modeled after that of England
and Wales but does not follow recent statutory enactments in England. In addition, the Companies Act differs from laws applicable to United
States corporations and their shareholders. Set forth below is a summary of the significant differences between the provisions of the
Companies Act applicable to us and the laws applicable to companies incorporated in the State of Delaware.

Mergers and Similar Arrangements

A merger of two or more constituent companies
under Cayman Islands law requires a plan of merger or consolidation to be approved by the directors of each constituent company and authorization
by a special resolution of the members of each constituent company.

A merger