Company: XHG
Filing Date: 2025-10-29
Form Type: F-3/A
Source: 0001213900-25-103499
Chunk: 99

Company: XChange TEC.INC
Filing Date: 2025-10-29
Form: F-3/A
Chunk 99
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 this prospectus will be set forth in the applicable prospectus
supplement relating to the offering of those securities.

<div align='center'>ENFORCEABILITY OF CIVIL LIABILITIES</div>

We are incorporated in the Cayman Islands to take
advantage of certain benefits associated with being a Cayman Islands exempted company, such as:

| ● | political and economic stability; |

| ● | an effective judicial system; |

| ● | a favorable tax system; |

| ● | the absence of exchange control 
 or currency restrictions; and   |

| ● | the availability of professional 
 and support services.            |

However, certain disadvantages accompany incorporation
in the Cayman Islands. These disadvantages include, but are not limited to:

| ● | the Cayman Islands has a less                                                                                                          
 developed body of securities laws as compared to the United States; and these securities laws provide significantly less protection to 
 investors as compared to the United States; and                                                                                        |

| ● | Cayman Islands companies may                                             
 not have standing to sue before the federal courts of the United States. |

<div align='center'>52</div>

Our constituent documents do not contain provisions
requiring that disputes, including those arising under the securities laws of the United States, between us, our officers, directors and
shareholders, be arbitrated.

Substantially all of our operations are conducted
in China, and substantially all of our assets are located in China. All of our directors and executive officers are nationals or residents
of jurisdictions other than the United States, and most of their assets are located outside the United States. As a result, it may be
difficult for a shareholder to effect service of process within the United States upon these individuals, or to bring an action against
us or against these individuals in the United States, in the event that you believe that your rights have been infringed under the securities
laws of the United States or any state in the United States.

We have appointed Cogency Global Inc., located
at 122 East 42nd Street, 18th Floor, New York, NY 10168, as our agent to receive service of process with respect to any action brought
against us in the U.S. District Court for the Southern District of New York in connection with any offering we may make under this prospectus
and any applicable prospectus supplement under the federal securities laws of the United States or the securities laws of any State in
the United States or any action brought against us in