Company: WCT
Filing Date: 2025-12-02
Form Type: F-1
Source: 0001213900-25-116978
Chunk: 25

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-12-02
Form: F-1
Chunk 25
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 Security Law, The Measures
for Cybersecurity Review (2021 Version) and the Regulations on Network Data Security Protection (Draft for Comments) do not apply to our
businesses in Hong Kong.

However, since these laws, regulations 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. It is also highly
uncertain what the potential impact such modified or new laws and regulations will have on our Operating Subsidiary’s daily business
operation and the continued listing of our Class A Ordinary Shares on a United States or other foreign exchanges. Since the Trial
Measures was newly promulgated, its interpretation, application and enforcement remain unclear and there also remains significant uncertainty
as to the enactment, interpretation and implementation of other regulatory requirements related to overseas securities offerings and other
capital markets activities. If the Trial Administrative Measures become applicable to us or our Operating Subsidiary in Hong Kong,
if our Operating Subsidiary is deemed to be an “Operator,” or if the Measures for Cybersecurity Review (2021) or the
PRC Personal Information Protection Law become applicable to the Operating Subsidiary in Hong Kong, the business operation of the
Operating Subsidiary and the continued listing of our Class A Ordinary Shares in the United States could be subject to the CAC’s
cybersecurity review or the CSRC Overseas Issuance and Listing review in the future. While we do not believe we are covered by the permission
requirements from CSRC or CAC, investors of our company and our business may face potential uncertainty from actions taken by the PRC
government affecting our business. If the applicable laws, regulations, or interpretations change and our Operating Subsidiary become
subject to the CAC or CSRC review, we cannot assure you that our Operating Subsidiary will be able to comply with the regulatory requirements
in all respects and our current practice of collecting and processing personal information may be ordered to be rectified or terminated
by regulatory authorities.

Moreover, if there is a significant change to
the current political arrangements between Mainland China and Hong Kong, or the applicable laws, regulations, or interpretations
change, and/or if we were required to obtain such permissions or approvals in the future in connection with the continued listing of
our securities on a stock exchange outside of the PRC, it is uncertain