Company: WCT
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044576
Chunk: 139

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 139
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 that increase income per share or decrease loss per share) are excluded
from the calculation of diluted EPS. For the years ended December 31, 2023 and 2024, there were no dilutive shares.

Recently issued accounting pronouncements

The Company maintains a proactive approach in
evaluating the impact of new accounting pronouncements on its financial reporting. Upon identifying potential effects on its financial
statements, the Company conducts a thorough analysis to assess the necessary adjustments to its Consolidated Financial Statements. Furthermore,
the Company conducts a comprehensive review to understand the implications of the changes and ensures the implementation of appropriate
controls to safeguard the accuracy and integrity of its Consolidated Financial Statements.

New and amended standards adopted by the Company:

Accounting Standards Update (ASU) No. 2023-07,
Improvements to Reportable Segment Disclosures (Topic 280): Segment Reporting

On November 27, 2023, the Financial Accounting
Standards Board (“ FASB”) issued Accounting Standards Update No. 2023-07, Improvements to Reportable Segment Disclosures (“ ASU
2023-07”). ASU 2023-07 amends ASC 280, Segment Reporting(“ ASC 280”) to expand segment disclosures by requiring disclosure
of significant segment expenses that are regularly provided to the Company’s chief operating decision maker (“ CODM”),
the amount and description of other segment items, the title and position of the CODM, and an explanation of how the CODM uses the reported
measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. ASU 2023-07 further permits
disclosure of more than one measure of segment profit or loss and extends the full disclosure requirements of ASC 280 to companies with
single reportable segments. The Company adopted ASU 2023-07 on January 1, 2024, which did not have a material impact on the Consolidated
Financial Statements.

New Accounting Standards That Have Not Yet
Been Adopted:

Accounting Standards Update (ASU) No. 2023-08,
Intangibles - Goodwill and Other- Crypto Assets (Topic 350-60): Accounting for and Disclosure of Crypto Assets

In December 2023, the FASB issued ASU No.
2023-08, Intangibles - Goodwill and Other - Crypto Assets. ASU 2023-08 amends ASC 350, Intangibles - Goodwill and Other, to
provide