Company: XHG
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005499
Chunk: 13

Company: XChange TEC.INC
Filing Date: 2025-01-22
Form: 20-F
Item: Item 3
Chunk 13
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784                                                     
  Net loss from continuing operations to XHG                     (613,166                                   (8,479      (4,784        (4,496      4,496      (613,166  

                                                           For the Year Ended September 30, 2024                                                            
  Condensed Consolidating Schedule of Cash Flows           XChange                                                                                          
                                                           TEC. INC                                                                                         
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                           (RMB in thousands)                                                                               
  Net cash provided by (used in) operating activities      2,631                                      (14,893      13       2,479      —            (9,770  
  Net cash provided by (used in) investing activities      —                                                —       —        (694      10,868       10,174  
  Net cash provided by (used) in financing activities      (6,666                                      15,315      20           —      —             8,669  
  Effect of exchange rate                                  2,934                                          (23       —           —      —             2,911  
  Net increase in cash and cash equivalents                (1,101                                         399      33       1,785      10,868       11,984  
  CASH AND CASH EQUIVALENTS, beginning of year             1,101                                          102      59      10,707      (10,868       1,101  
  CASH AND CASH EQUIVALENTS, end of year                   —                                              501      92      12,492      —            13,085  

  B       Capitalization and Indebtedness  
 ───────────────────────────────────────────

Not applicable.

  C       Reasons for the Offer and Use of Proceeds  
 ─────────────────────────────────────────────────────

Not applicable.

  D       Risk Factors  
 ────────────────────────

Our business, financial condition and results
of operations are subject to various changing business, competitive, economic, political and social conditions. In addition to the factors
discussed elsewhere in this annual report, the following are some of the important factors that could adversely affect our operating
results, financial condition and business prospects, and cause our actual results to differ materially from those projected in any forward-looking
statements.

Summary of Risk Factors

An investment in our ADSs involves significant
risks