Company: XHG
Filing Date: 2025-09-09
Form Type: F-3
Source: 0001213900-25-086186
Chunk: 80

Company: XChange TEC.INC
Filing Date: 2025-09-09
Form: F-3
Chunk 80
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 exercise the debt warrants will commence and the date on which the right will expire; |

| ● | if applicable, a discussion                                                                              
 of United States federal income tax, accounting or other considerations applicable to the debt warrants; |

| ● | whether the debt warrants represented                                                                                                           
 by the debt warrant certificates will be issued in registered or bearer form, and, if registered, where they may be transferred and registered; |

| ● | anti-dilution provisions of 
 the debt warrants, if any;  |

| ● | redemption or call provisions,               
 if any, applicable to the debt warrants; and |

| ● | any additional terms of the                                                                                            
 debt warrants, including terms, procedures and limitations relating to the exchange and exercise of the debt warrants. |

Debt warrant certificates will be exchangeable
for new debt warrant certificates of different denominations and, if in registered form, may be presented for registration of transfer,
and debt warrants may be exercised at the corporate trust office of the debt warrant agent or any other office indicated in the related
prospectus supplement. Before the exercise of debt warrants, holders of debt warrants will not be entitled to payments of principal of,
premium, if any, or interest, if any, on the debt securities purchasable upon exercise of the debt warrants, or to enforce any of the
covenants in the indentures governing such debt securities.

<div align='center'>43

DESCRIPTION OF UNITS</div>

We may issue units composed of any combination
of our Class A ordinary shares, ADSs, preferred shares, debt securities or warrants. We will issue each unit so that the holder of the
unit is also the holder of each security included in the unit. As a result, the holder of a unit will have the rights and obligations
of a holder of each included security. The unit agreement under which a unit is issued may provide that the securities included in the
unit may not be held or transferred separately, at any time or at any time before a specified date.

The following description is a summary of selected
provisions relating to units that we may offer. The summary is not complete. When units are offered in the future, a prospectus supplement,
information incorporated by reference or a free writing prospectus, as applicable, will explain the particular terms of those securities
and the extent to which these general provisions may apply. The specific terms of the units as described in a prospectus supplement, information
incorporated by reference, or free writing prospectus will supplement