Company: WCT
Filing Date: 2025-10-07
Form Type: DRS
Source: 0001213900-25-096917
Chunk: 67

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-10-07
Form: DRS
Chunk 67
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 with the enactment of the HFCAA. However, some of the recommendations were more stringent than the HFCAA. For example, if
a company’s auditor was not subject to PCAOB inspection, the report recommended that the transition period before a company would
be delisted would end on January 1, 2022. The SEC has announced that the SEC staff is preparing a consolidated proposal for the rules
regarding the implementation of the HFCAA and to address the recommendations in the PWG report. It is unclear when the SEC will complete
its rulemaking and when such rules will become effective and what, if any, of the PWG recommendations will be adopted. The implications
of this possible regulation in addition to the requirements of the HFCAA are uncertain. Such uncertainty could cause the market price
of our Class A Ordinary Shares to be materially and adversely affected, and our securities could be delisted or prohibited from being
traded on the national securities exchange earlier than would be required by the HFCAA. If our Class A Ordinary Shares are unable to be
listed on another securities exchange by then, such a delisting would substantially impair your ability to sell or purchase our Class
A Ordinary Shares when you wish to do so, and the risk and uncertainty associated with a potential delisting would have a negative impact
on the price of our Class A Ordinary Shares.

Further, new laws and regulations or changes in
laws and regulations in both the United States and the PRC could affect our ability to continue to list our Class A Ordinary Shares, which
could materially impair the market for and market price of our Class A Ordinary Shares.

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We may experience extreme stock price volatility unrelated to our actual or expected operating performance, financial condition, or prospects, making it difficult for prospective investors to assess the rapidly changing value of our Class A Ordinary Shares.

From the closing of our initial public offering
on October 3, 2024 to the date of this prospectus, the trading price of our Class A Ordinary Shares has ranged from $0.12 to $9.36 per
Class A Ordinary Share. The trading prices of our Class A Ordinary Shares are likely to be highly volatile and could fluctuate widely
due to factors beyond our control. This may happen due to broad market and industry factors, such as performance and fluctuation in the
market prices or underperformance or deteriorating financial results of other listed companies based in Hong Kong and China. The securities
of some of these companies have experienced