Company: WCT
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044576
Chunk: 143

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 143
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                                      US$                                    US$                  
  Self-developed software                                        95,106                   95,626  
  Acquired ERP system                                         1,627,904                4,609,458  
  Total                                                       1,723,010                4,705,084  
  Less: accumulated amortization                              ( 222,746                ( 485,063  
  Intangible assets, net                                      1,500,264                4,220,021  

Amortization expenses recognized in cost of revenue
for the years ended December 31, 2022, 2023, and 2024 were US$56,887, US$146,401and US$259,997, respectively.

F-21

WELLCHANGE HOLDINGS COMPANY LIMITED

7. INVESTMENT, NET

Investment, net consists of the following:

  As of December 31,                                            
  2023                                         2024             
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  US$                                          US$              
  Marketable equity securities      5,820                6,029  

Investments in Marketable Equity Securities

Equity securities with readily available marketable
trading price consist of investment in mutual fund marketed by a financial institution. The equity securities are not insured against
loss of principal and bearing a fixed interest of HK$231(approximately US$30) per month. This investment is accounted for as financial
instruments that are marked to fair market value at the end of each reporting period with any unrealized gains or losses reported in statements
in operations. As of December 31, 2023 and 2024, the investment was recorded at fair value of US$5,820and US$6,029, which were traded
at a closing price of HK$9.08and HK$9.32per share, respectively.

For the years ended December 31, 2022., 2023 and 2024, the
Company had unrealized investment loss of US$693, unrealized investment gain of US$337and US$356, respectively, and interest income of
US$289, US$305and US$356, respectively.

8. ACCRUALS AND OTHER PAYABLES

Accruals and other payables consist of the following:

                                     As of December 31,                                      
                                     2023                                 2024               
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