Company: XHG
Filing Date: 2025-10-29
Form Type: F-3/A
Source: 0001213900-25-103499
Chunk: 7

Company: XChange TEC.INC
Filing Date: 2025-10-29
Form: F-3/A
Chunk 7
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 Act, the SEC will prohibit the trading of our ADSs. A trading prohibition for our ADSs, or the threat of a trading prohibition, may materially and adversely affect the value of your investment. Additionally, the inability of the PCAOB to conduct inspections of our auditors would deprive our investors of the benefits of such inspections” in this prospectus.

Our historical corporate structure is subject
to risks associated with our contractual arrangements with the VIE entities. Our historical contractual arrangements might not be as effective
as direct ownership in providing us with control over the VIE entities and the termination of these agreements may incur additional costs.
If the PRC government deems that our historical contractual arrangements with the VIE entities do not comply with PRC regulatory restrictions
on foreign investment in the relevant industries, or if these regulations or the interpretation of existing regulations change or are
interpreted differently in the future, we could be subject to severe penalties or be forced to relinquish our interests in those operations.
Our Cayman Islands holding company, our PRC subsidiaries and VIE entities, and investors of our company face uncertainty about potential
future actions by the PRC government that could affect the enforceability of the historical contractual arrangements with the VIE entities
and, consequently, significantly affect the historical financial performance of the VIE entities and our Company as a whole. See “Risk
Factors—Risks Related to Our Corporate Structure—If the PRC government determines that the contractual arrangements with the
VIE entities did not comply with PRC regulations, or if these regulations change or are interpreted differently in the future, our shares
and/or ADSs may decline in value if we are deemed to be unable to assert our contractual control rights over the assets of the VIE entities”
in this prospectus.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or completeness of this prospectus, including any prospectus supplement, free writing prospectus and documents incorporated by reference. Any representation to the contrary is a criminal offense.

<div align='center'>The date of this prospectus is October 29, 2025.

TABLE OF CONTENTS</div>

|                                              |     | Page |
| ABOUT THIS PROSPECTUS                        |     |    1 |
| INCORPORATION OF DOCUMENTS BY REFERENCE      |     |    2 |
| SPECIAL NOTE ON FORWARD-LOOKING STATEMENTS   |     |    3 |
| PROSPECTUS                                   
 SUMMARY