Company: XHG
Filing Date: 2025-10-29
Form Type: F-3/A
Source: 0001213900-25-103499
Chunk: 38

Company: XChange TEC.INC
Filing Date: 2025-10-29
Form: F-3/A
Chunk 38
---

30, 2024, the Company repaid the notes payable of RMB 6,060 to MMTEC, Inc.

On June 6, 2024, the Company and Burgeon Capital
Inc (“Burgeon Capital”), one of the two prior shareholders of Alpha Mind, entered into a share subscription agreement and
a payoff letter, pursuant to which, the Company agreed to issue to Burgeon Capital and Burgeon Capital agreed to subscribe from the Company,
58,590,000,000,000 Class A ordinary shares, par value US$0.0000001 per share, of the Company (the “Converted Shares”), as
the repayment by the Company to Burgeon Capital of all outstanding principal amount and accrued interest under the Note with a total
amount of US$27,342. On the same date, the Company consummated the issuance of the Class A ordinary shares.

On December 31, 2024, the Company and
the sellers of Alpha Mind agreed to extend the maturity date of the remaining Note and accrued but unpaid interest to date to June 30,
2025.

Share Consolidation

On January 24, 2025, the Company’s shareholders
approved a share capital reorganization consisting of: (i) a 100,000-to-1 consolidation of issued and unissued shares into US$0.01 par
value shares; and (ii) an increase in authorized share capital. In addition, shareholders approved: (i) a reduction in the par value
of each issued Consolidated Share to US$0.0000001 and application of the resulting credit to offset accumulated losses with any balance
transferred to a distributable reserve; (ii) a corresponding subdivision of authorized but unissued shares; and (iii) a diminution of
authorized share capital.

As a result of the Company’s share consolidation,
capital reduction, and share subdivision, the 58,590,000,000,000 Class A ordinary shares issued to Burgeon Capital were reduced to 585,900,000
Class A ordinary shares.

Note Purchase Agreement with MMTEC and Infinity Asset Solutions

On April 23, 2025, the Company, MMTEC, Inc.
(the “Seller”), a holder of the certain Secured Promissory Note dated December 28, 2023 issued by the Company in the original
principal amount of US$153,000,000 (the “Note”), and Infinity Asset Solutions Ltd., (