Company: WCT
Filing Date: 2025-10-07
Form Type: DRS
Source: 0001213900-25-096917
Chunk: 42

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-10-07
Form: DRS
Chunk 42
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PRC laws or regulations may have on our business.

<div align='center'>16</div>

The laws, regulations, and other government directives
in Mainland China may also be costly to comply with, and such compliance or any associated inquiries or investigations or any other government
actions may:

| ● | delay or impede our development; |

| ● | result in negative publicity or increase our operating costs; |

| ● | require significant management time and attention; |

| ● | cause a devaluation of our securities or delisting; and, |

| ● | subject us to remedies, administrative penalties and even                                                                                
 criminal liabilities that may harm our business, including fines assessed for our current or historical operations, or demands or orders 
 that we modify or even cease our business operations.                                                                                    |

We are aware that recently, the PRC government
initiated a series of regulatory actions and statements to regulate business operations in certain areas in Mainland China with little
advance notice, including cracking down on illegal activities in the securities market, enhancing supervision over Mainland China-based
companies listed overseas using a variable interest entity structure, adopting new measures to extend the scope of cybersecurity reviews,
and expanding the efforts in anti-monopoly enforcement. We have no operations in Mainland China. Our Operating Subsidiary is located and
operates in Hong Kong, a special administrative region of the PRC. As advised by Khoo & Co., our counsel as to the
laws of Hong Kong, pursuant to the Basic Law of Hong Kong, or the Basic Law, which is a national law of the PRC and the constitutional
document for Hong Kong, national laws of the PRC shall not be applied in Hong Kong except for those listed in Annex III
of the Basic Law (which shall be confined to laws relating to defense and foreign affairs as well as other matters outside the autonomy
of Hong Kong). Whilst the National People’s Congress of the PRC, or the NPC, has the power to amend the Basic Law, the Basic
Law also expressly provides that no amendment to the Basic Law shall contravene the established basic policies of the PRC regarding Hong Kong.
As a result, national laws of the PRC not listed in Annex III of the Basic Law, including rules and regulations established by the
China Securities Regulatory Commission (the “CSRC”) do not apply to our businesses in Hong Kong. Therefore, we are not
currently required to obtain permission from the PRC government to continue to list on a U.S. securities