Company: WCT
Filing Date: 2025-12-02
Form Type: F-1
Source: 0001213900-25-116978
Chunk: 28

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-12-02
Form: F-1
Chunk 28
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 foreign jurisdiction and that PCAOB is unable to inspect or
investigate completely because of a position taken by an authority in foreign jurisdictions. On December 16, 2021, the PCAOB issued
a Determination Report, which found that the PCAOB is unable to inspect or investigate completely registered public accounting firms headquartered
in (i) China, and (ii) Hong Kong.

On August 26, 2022, the PCAOB announced and
signed a Statement of Protocol (the “Protocol”) with the China Securities Regulatory Commission and the Ministry of Finance
of the PRC. The Protocol provides the PCAOB with (1) sole discretion to select the firms, audit engagements and potential violations
it inspects and investigates, without any involvement of Chinese authorities; (2) procedures for PCAOB inspectors and investigators
to view complete audit work papers with all information included and for the PCAOB to retain information as needed; (3) direct access
to interview and take testimony from all personnel associated with the audits the PCAOB inspects or investigates.

On December 15, 2022, the PCAOB issued a
new Determination Report which: (1) vacated the December 16, 2021 Determination Report; and (2) concluded that the PCAOB
has been able to conduct inspections and investigations completely in the PRC in 2022. The December 15, 2022 Determination Report
cautions, however, that authorities in the PRC might take positions at any time that would prevent the PCAOB from continuing to inspect
or investigate completely. As required by the HFCAA, if in the future the PCAOB determines it can no longer inspect or investigate completely
because of a position taken by an authority in the PRC, the PCAOB will act expeditiously to consider whether it should issue a new determination.

Our previous auditor, WWC, P.C., the independent
registered public accounting firm that issued the audit report included elsewhere in this prospectus, as a firm headquartered in California
and registered with the PCAOB, is subject to laws in the United States pursuant to which the PCAOB conducts regular inspections to
assess our auditor’s compliance with the applicable professional standards with the last inspection in November 2021. Our current
auditor, SR CPA & Co., is also an independent registered public accounting firm registered with the PCAOB and subject to PCAOB
inspections with the applicable professional standards. SR CPA & Co. has not undergone a PCAOB inspection