Company: WCT
Filing Date: 2025-10-07
Form Type: DRS
Source: 0001213900-25-096917
Chunk: 5

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-10-07
Form: DRS
Chunk 5
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 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 Cyberspace Administration of China (the “CAC”) and the China Securities Regulatory Commission (the “CSRC”),
do not apply to our businesses in Hong Kong.

Uncertainties still exist, however, due to the
possibility that laws, regulations, or policies in the PRC could change rapidly in the future. In the event that (i) the PRC government
expanded the categories of industries and companies whose foreign securities offerings are subject to review by the CSRC or the CAC and
that we are required to obtain such permissions or approvals, or (ii) we inadvertently concluded that relevant permissions or approvals
were not required or that we did not receive or maintain relevant permissions or approvals required, any action taken by the PRC government
could significantly limit or completely hinder our operations in Hong Kong and our ability to offer or continue to offer our Class
A Ordinary Shares to investors and could cause the value of such securities to significantly decline or be worthless and even delisting
if our Class A Ordinary Shares. The delisting of our Class A Ordinary Shares, or the threat of their being delisted, may materially and
adversely affect the value of your investment in the future.

Furthermore, as more stringent criteria, including
the Holding Foreign Companies Accountable Act (the “HFCAA”), have been imposed by the SEC and the Public Company Accounting
Oversight Board (“PCAOB”), recently, our Class A Ordinary Shares may be prohibited from trading if our auditor cannot be fully
inspected. Our previous auditor, WWC, P.C., the independent registered public accounting firm that issued the audit report included in
this prospectus, as an auditor of companies that are traded publicly in the United States and a firm registered with the PCAOB, is
subject to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess WWC, P.C.’s compliance
with applicable professional standards. WWC, P.C. is headquartered in San Mateo, CA, and can be inspected by the PCAOB. As of