Company: XHG
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005499
Chunk: 222

Company: XChange TEC.INC
Filing Date: 2025-01-22
Form: 20-F
Item: Item 19
Chunk 222
---
,671      21,007,405,473,671  
  Net earnings (loss) per share attributable to ordinary                                                                                                                                0.00                           ( 0.00                            ( 0.00                  ( 0.00  
  Net losses per share from continuing operations attributable to ordinary shareholders of XChange TEC. INC— Basic and diluted                                                        ( 0.00                           ( 0.00                            ( 0.00                  ( 0.00  
  Net earnings (loss) from per share discontinued                                                                                                                                       0.00                           ( 0.00                              0.00                    0.00  

For the years ended September 30, 2022 and 2023, weighted average ordinary
shares included359,002,700and718,005,400stock options, which were vest but unexercised as of September 30, 2022 and 2023, respectively.
The Company included the stock options because they are exercisable at nil. For the years ended September 30, 2024, weighted average ordinary
shares did not included stock options.

For the years ended September 30, 2022, 2023 and 2024, potential ordinary
shares from assumed conversion of nil, niland nilconvertible notes as well as3,769,002,700,3,410,000,000and3,410,000,000options
have not been reflected in the calculation of diluted net losses per share as their inclusion would have been anti-dilutive.

F-28

  15.      INCOME TAXES  

Cayman Islands

Under the current laws of the Cayman Islands, the Company, XChange
TEC. INC is not subject to tax on income or capital gain.

BVI Islands

Under the current laws of the British Virgin Islands (“ BVI”),
Alpha mind BVI is incorporated in BVI is not subject to tax on income or capital gain.

Hong Kong

Alpha mind (HK) is incorporated in Hong Kong and is subject to Hong
Kong Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Hong Kong
tax laws. The applicable tax rate is16.5% in Hong Kong. The Company did not make any provisions for Hong Kong profit tax as there were
no assessable profits derived from or earned in Hong Kong since inception.

PRC

Under the Law of the People’s Republic of China on Enterprise
Income Tax (“