Company: WCT
Filing Date: 2025-10-07
Form Type: DRS
Source: 0001213900-25-096917
Chunk: 53

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-10-07
Form: DRS
Chunk 53
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31, 2023, also have indicated an intent to exert
more oversight and control over offerings that are conducted overseas and/or foreign investments in Mainland China-based issuers. It remains
uncertain as to the enactment, interpretation and implementation of regulatory requirements related to overseas securities offering and
other capital markets activities and due to the possibility that laws, regulations, or policies in the PRC could change rapidly in the
future.

It remains uncertain whether the PRC government
will adopt additional requirements or extend the existing requirements to apply to our Operating Subsidiary located in Hong Kong.
It is also uncertain whether the Hong Kong government will be mandated by the PRC government, despite the constitutional constraints
of the Basic Law, to control offerings conducted overseas and/or foreign investment of entities in Hong Kong, including our Operating
Subsidiary. Any actions by the PRC government to exert more oversight and control over offerings (including of businesses whose primary
operations are in Hong Kong) that are conducted overseas and/or foreign investments in Hong Kong-based issuers could significantly
limit or completely hinder our ability to offer or continue to offer securities to investors. If there is a significant change to current
political arrangements between Mainland China and Hong Kong, or the applicable laws, regulations, or interpretations change, and,
in such event, if we are required to obtain such approvals in the future, and we do not receive or maintain the approvals or is denied
permission from Mainland China or Hong Kong authorities, we will not be able to continue to list our Class A Ordinary Shares on a
U.S. exchange, or continue to offer securities to investors, which would materially affect the interests of the investors and cause
significant the value of our Class A Ordinary Shares significantly decline or be worthless.

There are some political risks associated with conducting business in Hong Kong.

Our operations are based in Hong Kong. Accordingly,
the political and legal developments in Hong Kong will affect our Operating Subsidiary’s business operations and financial
conditions. During the period covered by the financial information incorporated by reference into and included in this prospectus, we
derive all of our revenue from operations in Hong Kong. Any adverse economic, social and/or political conditions, material social
unrest, strike, riot, civil disturbance or disobedience, as well as significant natural disasters, may affect the market and may adversely
affect the business operations of Wching HK, our Operating Subsidiary. Hong Kong is a special administrative region of the PRC and
the basic