Company: WCT
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044576
Chunk: 9

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-05-16
Form: 20-F
Item: Item 4
Chunk 9
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% and 363.43%,
respectively. We are selling our customized software solutions primarily by identifying business needs. In addition, as of the
date of this annual report, we have developed and upgraded our ERP SaaS modules from 7 to 10, enabling our customers and the
employee-end users of our customers to handle more activities than before with one platform. We believe that our portfolio of
products, services, and business model allow us to attain high customer satisfaction. Due to the decrease in the demand for
self-developed software for SMBs as the cost of maintenance in terms of IT knowledge, skill, and time is relatively higher than
customized software, as a result, for the year ended December 31, 2024, revenue generated from white label software increased by
US$366,243 or 95.7% from US$382,527 to US$748,770 and for the year ended December 31, 2023, revenue generated from white label
software decreased by US$383,684 or 50.08% from US$766,211 to U$382,527. As of the date of this annual report, we have
gathered feedback from our customers and identified areas of improvement. We will continuously improve and enhance our white label
software solutions to make it more attractive to customers. We still consider white label software as part of our business
development strategy, and we believe we will achieve greater customer satisfaction with these changes.

An experienced and proven senior management
team consisting of industry veterans.

Our management team has substantial expertise
in information technology, software research and development, project execution and management. Our management team is led by our founder,
Chairman of the Board, and Chief Executive Officer, Mr. Shek Kin Pong, who is responsible for managing, executing, and supervising
our operations. Mr. Shek Kin Pong has 24 years of experience in the IT and services industries. Mr. Tang Chi Hin, our
Chief Technology Officer, contributes his extensive 20 years of experience in the IT industry to our daily operations regarding
user interface design, project management and monitoring, and customer support. Leveraging on our industry veterans’ expertise
in the software and IT industry, experience, and network gained from managing and developing large numbers of software development projects,
we believe that we are able to respond promptly and appropriately to the ever-changing market conditions and environment, as well as
continue to expand our customer base and products and services offering.