Company: WCT
Filing Date: 2025-10-07
Form Type: DRS
Source: 0001213900-25-096917
Chunk: 37

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-10-07
Form: DRS
Chunk 37
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 of the World Health Organization declared the outbreak a “Public Health Emergency of International Concern”
(“PHEIC”), and later on March 11, 2020, a global pandemic. The COVID-19 outbreak has led governments across the globe
to impose a series of measures intended to contain its spread, including border closures, travel bans, quarantine measures, social distancing,
and restrictions on business operations and large gatherings. From 2020 to the middle of 2021, COVID-19 vaccination programs were greatly
promoted around the globe. However, several types of COVID-19 variants emerged in different parts of the world.

Our business may be adversely affected if
concerns relating to COVID-19 continue to restrict travel or result in the Company’s personnel, vendors, and services
providers being unavailable to pursue their business objectives free of COVID-19-related restrictions. The extent to which COVID-19
impacts our business in the future will depend on future developments, which are highly uncertain and cannot be predicted, including
new information that may emerge concerning the severity of COVID-19 and the actions to contain COVID-19 or treat its impact, among
others. If the disruptions posed by COVID-19 or other matters of global concerns continue for an extended period of time, our
ability to pursue our business objectives may be materially adversely affected. In addition, our ability to raise equity and debt
financing, which may be adversely impacted by COVID-19 and other events, including as a result of increased market volatility,
decreased market liquidity, and third-party financing became unavailable on terms acceptable to us or at all.

By mid-2023, the global situation had stabilized
to some degree, with most countries having lifted the majority of COVID-19 restrictions. However, the pandemic has left an indelible mark,
both in terms of the lives lost and the profound economic and social disruption it has caused. Businesses across many industries, including
our own, have had to adapt to the challenges posed by lockdowns, supply chain disruptions, changing consumer behavior, and ongoing uncertainty.

Any future impact on our results of operations
will depend on, to a large extent, future developments and new information that may emerge regarding the duration and severity of the
COVID-19 pandemic and the actions taken by government authorities and other entities to contain the spread or treat its impact, almost
all of which are beyond our control. Given the general slowdown in economic conditions globally and volatility in the capital markets,
as well as the general negative impact