Company: XHG
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005499
Chunk: 78

Company: XChange TEC.INC
Filing Date: 2025-01-22
Form: 20-F
Item: Item 4
Chunk 78
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 2023, we adjusted the
ratio of ADS from one (1) ADS representing fifteen thousand (15,000) Class A ordinary shares to one (1) ADS representing six hundred
thousand (600,000) Class A ordinary shares.

On May 20, 2024, our authorized share capital
was changed to US$48,000,000 divided into 480,000,000,000,000 shares of a nominal or par value of US$0.0000001 each, of which 419,500,000,000,000
were designated as Class A Ordinary Shares of a nominal or par value of US$0.0000001 each, 60,000,000,000,000 were designated as Class
B Ordinary Shares of a nominal or par value of US$0.0000001 each, and 500,000,000,000 were designated as Preferred Shares of a nominal
or par value of US$0.0000001 each.

On May 20, 2024, we changed our company name
from “ FLJ Group Limited” to “ XChange TEC. INC,” effective on May 21, 2024. Our ADSs began trading under the new
ticker symbol “ XHG” on the NASDAQ effective on June 3, 2024.

On June 6, 2024, the Company and Burgeon Capital
Inc entered into the Conversion Documents, pursuant to which, the Company agreed to issue to Burgeon Capital and Burgeon Capital agreed
to subscribe from the Company, the Converted Shares, as the repayment by the Company to Burgeon Capital of all outstanding principal
amount and accrued interest under the promissory note issued to Burgeon Capital on December 28, 2023, with a total amount of US$27,342,000.

On October 24, 2024, Mr. Yong Zhang purchased
from Mr. Chengcai Qu, the then sole shareholder and sole director of Golden Stream, all issued and outstanding ordinary shares held by
Mr. Qu in Golden Stream, and became the sole shareholder and sole director of Golden Stream.

Effective on November 8, 2024, we adjusted the
ratio of ADS from one (1) ADS representing six hundred thousand (600,000) Class A ordinary shares to one (1) ADS representing twelve
million (12,000,000) Class A ordinary shares.

See “ Item 4. C. Information