Company: WCT
Filing Date: 2025-12-05
Form Type: 424B3
Source: 0001213900-25-118563
Chunk: 42

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-12-05
Form: 424B3
Chunk 42
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 compliance, which could decrease demand for our services,
reduce revenues, increase costs, require us to obtain more licenses, permits, approvals or certificates, or subject us to additional liabilities.
To the extent any new or more stringent measures are required to be implemented, our business, financial condition and results of operations
could be adversely affected and such measured could materially decrease the value of our Class A Ordinary Shares, potentially rendering
it worthless.

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There remain significant uncertainties as to whether we will be required to obtain approvals from Chinese authorities to offer and continue to offer securities on U.S exchanges, and if required, we cannot assure you that we will be able to obtain such approval. We may become subject to a variety of PRC laws and other obligations regarding data security in relation to offerings that are conducted overseas, and any failure to comply with applicable laws and obligations could have a material and adverse effect on our business, financial condition and results of operations and may hinder our ability to offer or continue to offer Class A Ordinary Shares to investors and cause the value of our Class A Ordinary Shares to significantly decline or be worthless.

Recently, the PRC government initiated a series
of regulatory actions and statements to regulate business operations in certain areas in Mainland China with little advance notice, including
cracking down on illegal activities in the securities market, enhancing supervision over mainland-China-based companies listed overseas
using variable interest entity structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts
in anti-monopoly enforcement. For example, on July 6, 2021, the General Office of the Communist Party of China Central Committee
and the General Office of the State Council jointly issued a document to crack down on illegal activities in the securities market and
promote the high-quality development of the capital market, which, among other things, requires the relevant governmental authorities
to strengthen cross-border oversight of law-enforcement and judicial cooperation, to enhance supervision over mainland-China-based companies
listed overseas, and to establish and improve the system of extraterritorial application of the PRC securities laws.

On August 20, 2021, the 30 meeting
of the Standing Committee of the 13 National People’s Congress voted and passed the “Personal Information Protection
Law of the People’s Republic of China,” or “PRC Personal Information Protection Law,” or the “PIPL,”
which became effective on November 1, 2021. The PRC Personal Information Protection Law applies to the processing of