Company: XCH
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0000950170-25-056976
Chunk: 7

Company: XCHG Ltd
Filing Date: 2025-04-23
Form: 20-F
Item: Item 3
Chunk 7
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 capital on terms acceptable to us, or at all, which would have a material adverse impact on our business, results of operations, financial condition and prospects. See “Item 3. Key Information—3.D. Risk Factors—Risks Related to Regulations—The ADSs will be prohibited from trading in the United States under the Holding Foreign Companies Accountable Act, or the HFCAA, if the PCAOB is unable to inspect and investigate completely our auditor. The prohibition from trading the ADSs, or the threat of their being prohibited from trading, may cause the value of the ADSs to significantly decline or be worthless.”
3.A. [Reserved]
3.B. Capitalization and Indebtedness
Not applicable.
3.C. Reason for the Offer and Use of Proceeds
Not applicable.

3.D. Risk Factors
Below please find a summary of the principal risks we face, organized under relevant headings. Unless otherwise indicated, all the legal and operational risks associated with being based in and having operations in the PRC also apply to operations in Hong Kong.
Risks Related to Our Business
Risks and uncertainties related to our business include, but are not limited to, the following:
•Risks associated with the management of our future growth. For details, see “Item 3. Key Information—3.D. Risk Factors—Risks Related to Our Business—We may not be able to manage our expected growth. If we fail to manage growth effectively, our business, results of operations, financial condition and prospects could be adversely affected.”
•Risks associated with the adoption of and demand for EVs. For details, see “Item 3. Key Information—3.D. Risk Factors—Risks Related to Our Business—Our growth and success are highly correlated with and thus dependent upon the continuing rapid adoption of and demand for EVs.”
•Risks associated with our limited operating history. For details, see “Item 3. Key Information—3.D. Risk Factors—Risks Related to Our Business—Our limited operating history may make it difficult to predict our future prospects and the risks and challenges we may encounter in the rapidly evolving EV charger market.”
•Risks associated with the rapid technological change in the EV charger market and our ability to develop new products and product innovations. For details, see “Item 3. Key Information—3.D. Risk Factors—Risks Related to Our Business—The EV charger market is characterized by rapid technological change, which requires us to continue to develop new products and product innovations.