Company: WCT
Filing Date: 2025-10-07
Form Type: DRS
Source: 0001213900-25-096917
Chunk: 49

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-10-07
Form: DRS
Chunk 49
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 making bodies will respond and what existing
or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any. Any failure of us
to fully comply with new regulatory requirements may significantly limit or completely hinder our ability to offer or continue to offer
the Class A Ordinary Shares, cause significant disruption to our business operations, severely damage our reputation, materially and adversely
affect our financial condition and results of operations, and cause the Class A Ordinary Shares to significantly decline in value or become
worthless.

Although we are currently not required to obtain
approvals from the PRC authorities to operate our business or list on the U.S. exchanges and offer securities, specifically, we are
currently not required to obtain any permission or approval from the CSRC, the CAC or any other PRC governmental authority to operate
our business or to continue to list our securities on a U.S. securities exchange or issue securities to foreign investors. We cannot
assure you that PRC regulatory agencies, including the CAC, would take the same view as we do, and there is no assurance that we can fully
or timely comply with such laws. In the event that we are subject to any mandatory cybersecurity review and other specific actions required
by the CAC, we face uncertainty as to whether any clearance or other required actions can be completed in a timely fashion or at all.
Given such uncertainty, we may be further required to suspend our relevant business, shut down our website, or face other penalties which
could materially and adversely affect our business, financial condition, and results of operations.

Furthermore, if the Trial Administrative Measures,
Measures for Cybersecurity Review (2021), the PIPL, become applicable to us or our Operating Subsidiary in Hong Kong, our operation
and the continued listing of our Class A Ordinary Shares in the United States could be subject to the CAC’s cybersecurity review
or the CSRC review in the future. If the applicable laws, regulations, or interpretations change and our Operating Subsidiaries become
subject to the CAC or CSRC review, we cannot assure you that our Operating Subsidiary will be able to comply with the regulatory requirements
in all respects and our current practice of collecting and processing personal information may be ordered to be rectified or terminated
by regulatory authorities. Compliance with these laws and regulations could significantly increase the cost to us of providing our service
offerings, require significant changes to our operations or even prevent us from providing certain service offerings