Company: WCT
Filing Date: 2025-10-07
Form Type: DRS
Source: 0001213900-25-096917
Chunk: 31

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-10-07
Form: DRS
Chunk 31
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 company until the earliest of: (i) the last day of the first fiscal year in which our annual gross revenue exceeds $1.235 billion; (ii) the last day of the fiscal year during which the fifth anniversary of the date of this Offering occurs; (iii) the date that we become a “large accelerated filer” as defined in Rule 12b-2 under the Exchange Act, which would occur if the market value of our Class A Ordinary Shares that are held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter; or (iv) the date on which we have issued more than $1.00 billion in non-convertible debt securities during any three-year period.

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Implication of Being a Foreign Private Issuer We are reporting under the Exchange Act as a non-U.S. company with foreign private issuer status. Even after we may no longer qualify as an emerging growth company, as long as we qualify as a foreign private issuer under the Exchange Act we are exempt from certain provisions of the Exchange Act that are applicable to U.S. domestic public companies, including:

| ● | the sections of the Exchange Act regulating the solicitation                                       
 of proxies, consents or authorizations in respect of a security registered under the Exchange Act; |

| ● | the sections of the Exchange Act requiring insiders                                                                                      
 to file public reports of their stock ownership and trading activities and liability for insiders who profit from trades made in a short 
 period of time; and                                                                                                                      |

| ● | the rules under the Exchange Act requiring the filing                                                                            
 with the SEC of quarterly reports on Form 10-Q containing unaudited financial and other specific information, or current reports 
 on Form 8-K, upon the occurrence of specified significant events.                                                                |

Both foreign private issuers and emerging growth companies are also exempt from certain more stringent executive compensation disclosure rules. Thus, even if we no longer qualify as an emerging growth company but remain a foreign private issuer, we will continue to be exempt from the more stringent compensation disclosures required of companies that are neither an emerging growth company nor a foreign private issuer. Implications of Being a “Controlled Company” We are a “controlled company” as defined under the Nasdaq Listing Rules, because Shek Kin Pong, our controlling shareholder who beneficially owns approximately 69.32% of the aggregate voting power of our issued and outstanding ordinary shares, will continue to own more than a majority