Company: WCT
Filing Date: 2025-12-05
Form Type: 424B3
Source: 0001213900-25-118563
Chunk: 22

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-12-05
Form: 424B3
Chunk 22
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 Hong Kong subsidiary
are covered by permission requirements from the CAC that is required to approve our Hong Kong subsidiary’s operations, as we
do not believe that we may be deemed to be an “operator of critical information infrastructure” or a “data processor”
controlling personal information of no less than one million users, that are required to file for cybersecurity review before listing
in the U.S., because (i) all of our operations are conducted by our Hong Kong subsidiary which currently solely serve the Hong Kong
local market, we currently have no operations in Mainland China; (ii) we do not have or intend to have any subsidiary, nor do we
have or intend to establish a VIE structure with any entity in Mainland China, nor we are controlled by any Mainland Chinese company or
individual directly or indirectly; (iii) as of the date of this prospectus, Wching HK did not collect or store any personal information
of individual customers of Mainland China; (v) we do not place any reliance on collection and processing of any personal information
to maintain our business operation; (vi) data processed in our business should not have a bearing on national security nor affect
or may affect national security; (vii) all of the data our Operating Subsidiary have collected is stored in servers located in Hong Kong;
and (viii) as of the date of this prospectus, Wching HK has not been informed by any PRC governmental authority of any requirement
that it file for a cybersecurity review. Moreover, pursuant to the Basic Law of the Hong Kong Special Administrative Region, or the
Basic Law, PRC laws and regulations shall not be applied in Hong Kong except for those listed in Annex III of the Basic Law
(which is confined to laws relating to national defense, foreign affairs and other matters that are not within the scope of autonomy).

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However, there remains uncertainty as to how the
Trial Administrative Measures will be interpreted or implemented, and the relevant PRC governmental authority may not take a view that
is consistent with our Hong Kong counsel. Also, significant uncertainty exists in relation to the interpretation and enforcement
of relevant PRC cybersecurity laws and regulations. If we were deemed to be an “operator of critical information infrastructure”
or a “data processor” controlling the personal information of no less than one million users under the Measures, or if other
regulations promulgated in relation to the Measures are deemed to apply to us, our business