Company: WCT
Filing Date: 2025-12-05
Form Type: 424B3
Source: 0001213900-25-118563
Chunk: 47

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-12-05
Form: 424B3
Chunk 47
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 any. It is also highly uncertain what the potential
impact such modified or new laws and regulations will have on the daily business operations of our Operating Subsidiary and the offering
and continuing to offer of our Class A Ordinary Shares on the U.S. or other foreign exchanges. As the Trial Administrative Measures
are newly issued, there remains uncertainty as to how it will be interpreted or implemented. Therefore, we cannot assure you that when
and whether we will be subject to such filing requirements or will be able to get clearance from the CSRC in a timely manner, or at all,
even though we believe that none of the situations that would clearly prohibit overseas offering applies to us.

Since these proposed rules, statements and regulatory
actions are new, it is highly uncertain how soon the legislative or administrative regulation making bodies will respond and what existing
or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any. Any failure of us
to fully comply with new regulatory requirements may significantly limit or completely hinder our ability to offer or continue to offer
the Class A Ordinary Shares, cause significant disruption to our business operations, severely damage our reputation, materially and adversely
affect our financial condition and results of operations, and cause the Class A Ordinary Shares to significantly decline in value or become
worthless.

Although we are currently not required to obtain
approvals from the PRC authorities to operate our business or list on the U.S. exchanges and offer securities, specifically, we are
currently not required to obtain any permission or approval from the CSRC, the CAC or any other PRC governmental authority to operate
our business or to continue to list our securities on a U.S. securities exchange or issue securities to foreign investors. We cannot
assure you that PRC regulatory agencies, including the CAC, would take the same view as we do, and there is no assurance that we can fully
or timely comply with such laws. In the event that we are subject to any mandatory cybersecurity review and other specific actions required
by the CAC, we face uncertainty as to whether any clearance or other required actions can be completed in a timely fashion or at all.
Given such uncertainty, we may be further required to suspend our relevant business, shut down our website, or face other penalties which
could materially and adversely affect our business, financial condition, and results of operations.

Furthermore, if the Trial Administrative Measures,
Measures for Cybersecurity Review (2021), the PIPL, become applicable to