Company: XHG
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005499
Chunk: 135

Company: XChange TEC.INC
Filing Date: 2025-01-22
Form: 20-F
Item: Item 6
Chunk 135
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2024 Plan, the disposition of the shares. The shares held by Golden Stream Ltd. are reserved for share-based
awards that the Company may grant in the future under the 2024 Plan. As of the date of this annual report, no share-based awards have
been granted under the 2024 Plan.

The principal terms of the 2024 Plan are substantially
the same as those of the 2022 Plan.

  Board Practices  
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Our board of directors consists of Four (4) directors.
A director is not required to hold any shares in our company to qualify to serve as a director. A director may vote with respect to any
contract, proposed contract or arrangement notwithstanding that he may be interested therein, and if he does so his vote shall be counted
and he may be counted in the quorum at any meeting of our directors at which any such contract or proposed contract or arrangement is
considered, provided (a) such director, if his interest (whether direct or indirect) in such contract or arrangement is material, has
declared the nature of his interest at the earliest meeting of the board at which it is practicable for him to do so, either specifically
or by way of a general notice and (b) if such contract or arrangement is a transaction with a related party, such transaction has been
approved by the audit committee. The directors may exercise all the powers of the company to borrow money, to mortgage or charge its undertaking,
property and uncalled capital, and to issue debentures or other securities whenever money is borrowed or as security for any debt, liability
or obligation of the company or of any third party. None of our non-executive directors has a service contract with us that provides for
benefits upon termination of service.

Committees of the Board of Directors

We have established three committees under the
board of directors: an audit committee, a compensation committee and a nominating and corporate governance committee. We have adopted
a charter for each of the three committees. Each committee’s members and functions are described below.

Audit Committee. Our audit committee consists
of Dr. Guofu Wu and Ms. Nini Qiao. Ms. Nini Qiao is the chairman of our audit committee. We have determined that each of Dr. Guofu Wu and
Ms. Nini Qiao satisfies the “independence” requirements of Rule 5605(c)(2) of the Listing Rules of the NASDAQ and Rule 10