Company: WCT
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044576
Chunk: 145

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 145
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 The bank borrowings are all denominated in HK$.  

Bank borrowings as at December 31, 2023 and
2024 are as follows:

                                                                                                                                                               Balance as at                         
                                                                                                                                                               December 31,                          
  Lender                                                     Type           Maturity date                                Currency      Interest rate           2023                            2024  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                                                                                                               US$                             US$   
  The Hongkong and Shanghai Banking Corporation Limited      Term loan      8 years with repayable on demand clause      HK$           Prime rate – 2.25%                         496,517            

As of December 31, 2023, the contractual
repayment schedule is as follows:

  Year ending December 31, 2024       65,136  
  Year ending December 31, 2025      104,401  
  Year ending December 31, 2026      108,249  
  Year ending December 31, 2027      112,017  
  Year ending December 31, 2028       90,311  
  Thereafter                          16,403  
  Total bank borrowings              496,517  

As of December 31, 2024, the contractual
repayment schedule is as follows:

  Year ending December 31, 2025      105,732  
  Year ending December 31, 2026      109,084  
  Year ending December 31, 2027      112,542  
  Year ending December 31, 2028       90,305  
  Year ending December 31, 2029       16,328  
  Total bank borrowings              433,991  

F-23

WELLCHANGE HOLDINGS COMPANY LIMITED

11. RIGHT-OF-USE ASSETS AND OPERATING LEASE
LIABILITIES

The Company is a lessee of non-cancellable operating
leases for a corporate office in Hong Kong with a lease term of two years. The Company’s ROU assets and operating lease
liabilities recognized in the consolidated balances sheets consist of the following:

  As of December 31,                                      
  2023                                 2024               
 ──────────────────────────────────────────────────────────
  US$                                  US$                
  Right-of-use assets      84,883                167,723  

                                   As