Company: XHG
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005499
Chunk: 134

Company: XChange TEC.INC
Filing Date: 2025-01-22
Form: 20-F
Item: Item 6
Chunk 134
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 agreed by the recipient, unless
otherwise specified in the 2019 Plan.

2022 Share Incentive Plan

In November 2022, our board of directors has approved
and adopted the 2022 Plan. The maximum number of shares available for issuance under the 2022 Plan is 2,500,000,000 Class B ordinary shares
of the Company. The board of directors has also approved the issuance of 2,500,000,000 Class B ordinary shares to Golden Stream Ltd.,
the ESOP Platform of the Company, which is holding these shares (which became 250,000,000,000 Class B ordinary shares effective September
18, 2023, par value $0.0000001 per share, as a result of the share subdivision). Golden Stream Ltd. and its controlling shareholder Mr.
Yong Zhang have agreed to act upon the instructions of the ESOP Operation Committee of the Company, consisting of Mr. Yong Zhang and Ms.
Jiaxing Chang determined on a unanimous basis in relation to the voting and, prior to the vesting of the shares to the relevant grantee
of the share-based awards under the 2024 Plan, the disposition of the shares. The shares held by Golden Stream Ltd. are reserved for share-based
awards that the Company may grant in the future under the 2022 Plan. As of December 31, 2024, no share-based awards have been granted
under the 2022 Plan.

The principal terms of the 2022 Plan are substantially
the same as those of the 2019 Plan.

2024 Share Incentive Plan

In June 2024, our board of directors has approved
and adopted the 2024 Plan. The maximum number of shares available for issuance under the 2024 Plan is 6,142,789,000,000 Class B ordinary
shares of the Company. The board of directors has also approved the issuance of 6,142,789,000,000 Class B ordinary shares to Golden Stream
Ltd., the ESOP Platform of the Company, which is holding these shares. Golden Stream Ltd. and its controlling shareholder Mr. Yong Zhang
have agreed to act upon the instructions of the ESOP Operation Committee of the Company, consisting of Mr. Yong Zhang and Ms. Jiaxing
Chang determined on a unanimous basis in relation to the voting and, prior to the vesting of the shares to the relevant grantee of the
share-based awards under the