# EDGAR Filing Document

**Accession Number:** 0002058007
**File Stem:** 0001493152-25-026548
**Filing Date:** 2025-12
**Character Count:** 31746
**Document Hash:** 5cf519396f2c9b14f1b0c52df67ba631
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-026548.hdr.sgml**: 20251208

**ACCESSION NUMBER**: 0001493152-25-026548

**CONFORMED SUBMISSION TYPE**: F-1/A

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20251208

**DATE AS OF CHANGE**: 20251208

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ECST Holdings Ltd
- **CENTRAL INDEX KEY:** 0002058007
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** F-1/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-289562
- **FILM NUMBER:** 251554866

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** FLAT B5, 25/F, TML TOWER
- **STREET 2:** NO. 3 HOI SHING ROAD, TSUEN WAN
- **CITY:** NEW TERRITORIES
- **PROVINCE COUNTRY:** K3
- **BUSINESS PHONE:** 852-3596-2046

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** FLAT B5, 25/F, TML TOWER
- **STREET 2:** NO. 3 HOI SHING ROAD, TSUEN WAN
- **CITY:** NEW TERRITORIES
- **PROVINCE COUNTRY:** K3

**As filed with the United States Securities and Exchange Commission on December 8, 2025.**

**Registration No. 333-289562**

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION** **<br> Washington, D.C. 20549**

**Amendment No. 4 to**

**Form F-1**

**<br> REGISTRATION STATEMENT<br> *UNDER<br> THE SECURITIES ACT OF 1933***

 ****

 

**ECST HOLDINGS LIMITED** **<br> (Exact Name of Registrant as Specified in its Charter)**

---

| | | |
|:---|:---|:---|
| **Cayman Islands** | **7372** | **Not Applicable** |
| **(State or Other Jurisdiction of <br> Incorporation or Organization)** | **(Primary Standard Industrial <br> Classification Code Number)** | **(I.R.S. Employer <br> Identification No.)** |

---

**Flat B5, 25/F, TML Tower**

**No. 3 Hoi Shing Road**

**Tsuen Wan, New Territories**

**Hong Kong**

**+852 3596 2046**

(Address, including zip code, and telephone number, including area code, of Registrant's principal executive offices)

**Cogency Global Inc.<br> 122 East 42nd Street, 18th Floor<br> New York, NY 10168<br> +1 800-221-0102**

(Name, address, including zip code, and telephone number, including area code, of agent for service)

***Copies to:***

 ****

---

| | |
|:---|:---|
| **Lawrence Venick Esq.**<br> **Loeb & Loeb LLP**<br> **2206-19 Jardine House**<br> **1 Connaught Place, Central**<br> **Hong Kong**<br> **Telephone: +1 310 7285129** | **Sanny Choi, Esq.**<br> **CFN Lawyers LLC**<br> **#4607 Albany**<br> **NY 12207**<br> **USA**<br> **Telephone: +1 (646) 386 8128** |

---

**Approximate date of commencement of proposed sale to the public:** As soon as practicable after effectiveness of this registration statement.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ☐

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933.

Emerging growth company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the U.S. Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.**

**EXPLANATORY NOTE** 

This Amendment No. 4 is being filed solely for the purpose of filing exhibit 23.1 to this registration statement on Form F-1, or the Registration Statement, and to amend and restate the exhibit index set forth in Part II of the Registration Statement. No changes have been made to the Registration Statement other than this explanatory note as well as revised versions of the cover page and exhibit index of the Registration Statement. This Amendment No. 4 does not contain copies of the prospectus included in the Registration Statement, which remains unchanged from the Registration Statement filed on September 8, 2025, and consists only of the cover page, this explanatory note and Part II of the Registration Statement.

**PART II<br> INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 6. Exculpation, Insurance, and Indemnification of Office Holders (Including Directors and Officers).**

Cayman Islands law does not limit the extent to which a company's memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. Our memorandum and articles provide that to the extent permitted by law, we shall indemnify each existing or former director (including alternate director), secretary and other officer of us (including an investment adviser or an administrator or liquidator) and their personal representatives against:

&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or sustained by the existing or former director
 (including alternate director), secretary or officer in or about the conduct of our business or affairs or in the execution or discharge
 of the existing or former director's (including alternate director's), secretary's or officer's duties, powers,
 authorities or discretions; and

(b) without
 limitation to paragraph (a), all costs, expenses, losses or liabilities incurred by the existing or former director (including alternate
 director), secretary or officer in defending (whether successfully or otherwise) any civil, criminal, administrative or investigative
 proceedings (whether threatened, pending or completed) concerning us or our affairs in any court or tribunal, whether in the Cayman
 Islands or elsewhere.

No such existing or former director (including alternate director), secretary or officer, however, shall be indemnified in respect of any matter arising out of his own dishonesty.

To the extent permitted by the Companies Act, we may make a payment, or agree to make a payment, whether by way of advance, loan or otherwise, for any legal costs incurred by an existing or former director (including alternate director), secretary or officer of the Company in respect of any matter identified in above on condition that the director (including alternate director), secretary or officer must repay the amount paid by us to the extent that we are ultimately found not liable to indemnify the director (including alternate director), secretary or officer for those legal costs

**Item 7. Recent Sales of Unregistered Securities.**

We have issued the following securities which were not registered under the Securities Act. We believe that each of the following issuances was exempt from registration under the Securities Act pursuant to Section 4(a)(2) of the Securities Act regarding transactions not involving a public offering or in reliance on Regulation S under the Securities Act regarding sales by an issuer in offshore transactions.

On February 5, 2025, the Company allotted and issued 1 Class B Ordinary Share to Ogier Global Subscriber (Cayman) Limited.

On March 18, 2025, Ogier Global Subscriber (Cayman) Limited transferred the 1 Class B Ordinary Share to YHC Group Limited at a consideration of US$0.0001 and YHC Group Limited subsequently converted the 1 Class B Ordinary Share held by it to 1 Class A Ordinary Share. On the same day, the Company allotted and issued 25 and 74 Class A Ordinary Shares to Erpbng (BVI) Limited and YHC Group Limited, respectively, at a consideration of US$0.0025 and US$0.0074, respectively.

As part of the reorganization, the Company allotted and issued 4,999,975 and 14,999,925 Class A Ordinary Shares to Erpbng (BVI) Limited and YHC Group Limited, respectively, for the acquisition of the entire share capital of ECHK.

On May 28, 2025, the Company repurchased 5,000,000 and 11,380,000 Class A Ordinary Shares from Erpbng (BVI) Limited and YHC Group Limited and issued 5,000,000 and 11,380,000 Class B Ordinary Shares to Erpbng (BVI) Limited and YHC Group Limited, respectively, as consideration.

On August 4, 2025, the Company repurchased 1,940,000 Class B Ordinary Shares from Erpbng (BVI) Limited and issued 1,940,000 Class A Ordinary Shares to Erpbng (BVI) Limited, as consideration.

No underwriter or underwriting discount or commission was involved in any of the transactions set forth in Item 7.

All of the foregoing issuances were made outside of the U.S. pursuant to Regulation S or to U.S. entities pursuant to Section 4(a)(2) of the Securities Act.

**Item 8. Exhibits and Financial Statement Schedules.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Exhibits

The exhibits of the registration statement are listed in the Exhibit Index to this registration statement and are incorporated herein by reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial Statement Schedules

Schedules have been omitted because the information required to be set forth therein is not applicable or is shown in the consolidated financial statements or the notes thereto.

**Item 9. Undertakings.**

The undersigned registrant hereby undertakes:

(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

(i) To include any prospectus required by section 10(a)(3) of the Securities Act;

(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information in the registration statement.

Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Filing Fee" table in the effective registration statement;

(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.

(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(4) To file a post-effective amendment to the registration statement to include any financial statements required by Item 8.A. of Form 20-F at the start of any delayed offering or throughout a continuous offering. Financial statements and information otherwise required by Section 10(a)(3) of the Act need not be furnished, provided that the registrant includes in the prospectus, by means of a post-effective amendment, financial statements required pursuant to this paragraph (a)(4) and other information necessary to ensure that all other information in the prospectus is at least as current as the date of those financial statements. Notwithstanding the foregoing, with respect to registration statements on Form F-3, a post-effective amendment need not be filed to include financial statements and information required by Section 10(a)(3) of the Act if such financial statements and information are contained in periodic reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the Form F-3.

(5) That, for the purpose of determining liability under the Securities Act to any purchaser:

(i) If the registrant is relying on Rule 430B:

(A) Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and

(B) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by section 10(a) of the Securities Act shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date; or

(ii) If the registrant is subject to Rule 430C, each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.

(6) That, for the purpose of determining liability of the registrant under the Securities Act to any purchaser in the initial distribution of the securities the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;

(ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;

(iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and

(iv) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

(b) The undersigned registrant hereby undertakes to provide to the underwriters at the closing specified in the underwriting agreements, certificates in such denominations and registered in such names as required by the underwriters to permit prompt delivery to each purchaser.

(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the provisions described in Item 6 hereof, or otherwise, the registrant has been advised that in the opinion of the U.S. Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

(d) The undersigned registrant hereby undertakes that:

(1) For purposes of determining any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the Registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective.

(2) For the purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

**Exhibit Index**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 1.1\*\* | [Form of Underwriting Agreement](https://www.sec.gov/Archives/edgar/data/2058007/000164117225026297/ex1-1.htm) |
| 3.1\*\* | [Articles of Association of the Company, as currently effective](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex3-1.htm) |
| 4.1\*\* | [Specimen Certificate for the Shares](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex4-1.htm) |
| 5.1\*\* | [Opinion of Ogier regarding the validity of the Shares being registered and certain Cayman Islands tax matters](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex5-1.htm) |
| 10.1\*\* | [Form of Employment Agreement between the Company and its independent directors](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex10-1.htm) |
| 10.2\*\* | [Form of Employment Agreement between the Company and its executive officers](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex10-2.htm) |
| 10.3\*\* | [Form of Indemnification Agreement](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex10-3.htm) |
| 10.4\*\* | [2025 Share Incentive Plan](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex10-4.htm) |
| 10.5\*\* | [Tenancy Agreement in relation to Flat B5, 25/F, TML Tower, No. 3 Hoi Shing Road, Tsuen Wan, New Territories, Hong Kong dated March 31, 2025](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex10-5.htm) |
| 10.6\*\* | [Unofficial English translation of Tenancy Agreement in relation to Flat 1-605A, 6/F, Main Building, Xiabei Comprehensive Building, C Age Nanhai Internet Industrial Park, No. 1 Baoshi West Road, Guicheng Street, Nanhai District, Foshan, Guangdong Province, China dated October 13, 2023](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex10-6.htm) |
| 10.7\*\* | [Banking facility letter entered in September 2020, with Bank of China (Hong Kong) Limited](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex10-7.htm) |
| 10.8\*\* | [Banking facility letter entered in October 2020, with Bank of China (Hong Kong) Limited](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex10-8.htm) |
| 10.9\*\* | [Banking facility letter entered in June 2021, with Bank of China (Hong Kong) Limited](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex10-9.htm) |
| 10.10\*\* | [Banking facility letter entered in September 2022, with Bank of China (Hong Kong) Limited](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex10-10.htm) |
| 10.11\*\* | [Banking facility letter entered in April 2023, with Bank of China (Hong Kong) Limited](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex10-11.htm) |
| 10.12\*\* | [Banking facility letter entered in October 2024, with Shanghai Commercial Bank Limited](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex10-12.htm) |
| 14.1\*\* | [Code of Business Conduct and Ethics](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex14-1.htm) |
| 21.1\*\* | [List of Subsidiaries of the Company](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex21-1.htm) |
| 23.1\* | [Consent of Wei, Wei & Co., LLP](ex23-1.htm) |
| 23.2\*\* | [Consent of Ogier (included in Exhibit 5.1)](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex5-1.htm) |
| 23.3\*\* | [Consent of David Fong & Co. (included in Exhibit 99.9)](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex99-9.htm) |
| 23.4\*\* | [Consent of Beijing Dacheng Law Offices, LLP (Shenzhen) (included in Exhibit 99.10)](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex99-10.htm) |
| 23.7\*\* | [Consent of Migo Corporation Limited](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex23-7.htm) |
| 24.1 | [Power of Attorney (included in the signature page to the Form F-1)](#D_013) |
| 99.1\*\* | [Audit Committee Charter](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex99-1.htm) |
| 99.2\*\* | [Nominating Committee Charter](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex99-2.htm) |
| 99.3\*\* | [Compensation Committee Charter](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex99-3.htm) |
| 99.4\*\* | [Insider Trading Policy](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex99-4.htm) |
| 99.5\*\* | [Clawback Policy](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex99-5.htm) |
| 99.6\*\* | [Consent of Yuk Ming Christopher Chung](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex99-6.htm) |
| 99.7\*\* | [Consent of Hing Cheong Lau](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex99-7.htm) |
| 99.8\*\* | [Consent of Shing Kei Sze](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex99-8.htm) |
| 99.9\*\* | [Opinion of David Fong & Co. regarding certain Hong Kong legal matters and tax matters](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex99-9.htm) |
| 99.10\*\* | [Opinion of Beijing Dacheng Law Offices, LLP (Shenzhen) in regarding certain PRC legal matters](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex99-10.htm) |
| 99.11\* | [Representation to the Securities and Exchange Commission Pursuant to Item 8.A.4 of Form 20-F](ex99-11.htm) |
| 107\*\* | [Calculation of Filing Fee Table](https://www.sec.gov/Archives/edgar/data/2058007/000164117225023369/ex107.htm) |

---

\* Filed herewith

\*\* Filed previously

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-1 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Hong Kong on December 8, 2025.

---

| | |
|:---|:---|
| **ECST HOLDINGS LIMITED** | **ECST HOLDINGS LIMITED** |
| By: | */s/ Yik Hang Chow* |
|  | Yik Hang Chow |
| Title: | Director and Chief Executive Officer |

---

**POWER OF ATTORNEY**

*KNOW ALL PERSONS BY THESE PRESENTS*, that each person whose signature appears below constitutes and appoints Mr. Yik Hang Chow, as his or her true and lawful attorney-in-fact and agent with full power of substitution, for him or her in any and all capacities, to do any and all acts and all things and to execute any and all instruments that said attorney and agent may deem necessary or desirable to enable the registrant to comply with the Securities Act, and any rules, regulations and requirements of the SEC thereunder, in connection with the registration under the Securities Act of shares of the registrant (the "Shares"), including, without limitation, the power and authority to sign the name of each of the undersigned in the capacities indicated below to the Registration Statement on Form F-1 (the "Registration Statement") to be filed with the SEC with respect to such Shares, to any and all amendments or supplements to such Registration Statement, whether such amendments or supplements are filed before or after the effective date of such Registration Statement, to any related Registration Statement filed pursuant to Rule 462(b) under the Securities Act, and to any and all instruments or documents filed as part of or in connection with such Registration Statement or any and all amendments thereto, whether such amendments are filed before or after the effective date of such Registration Statement, and each of the undersigned hereby ratifies and confirms all that such attorney and agent shall do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signatures** | **Title** | **Date** |
| */s/ Yik Hang Chow* | Chairman of the board of directors, | December 8, 2025 |
| Yik Hang Chow | Director, and Chief Executive Officer <br> (Principal Executive Officer) |  |
| */s/ Zhao Pang* | Chief Financial Officer | December 8, 2025 |
| Zhao Pang | (Principal Accounting and Financial Officer) |  |

---

**SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant's duly authorized representative has signed this registration statement on Form F-1 in New York, NY on December 8, 2025.

---

| | |
|:---|:---|
| Cogency Global Inc. | Cogency Global Inc. |
| By: | */s/ Colleen A. De Vries* |
| Name: | Colleen A. De Vries |
| Title: | Senior Vice President |

---

## Exhibit 23.1

**Exhibit 23.1**

---

| | |
|:---|:---|
| ![](ex23-1_001.jpg) |  |
| ![](ex23-1_002.jpg) | <br>**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**<br>We hereby consent to the use in this amended Registration Statement on Form F-1 of ECST Holdings Limited of our report dated April 15, 2025, relating to the consolidated financial statements of ECST Holdings Limited and Subsidiaries for the years ended September 30, 2024 and 2023, which appear in this Registration Statement.<br>We also consent to the reference to us under the heading "Experts" in such Registration Statement.<br>/s/ Wei, Wei & Co., LLP<br>Flushing, New York<br>December 8, 2025 |

---

## Exhibit 99.11

**Exhibit 99.11**

**<u>Representation to the Securities and Exchange Commission Pursuant to Item 8.A.4 of Form 20-F</u>**

ECST Holdings Limited (the "Company") has included in this Registration Statement on Form F-1 audited consolidated financial statements, prepared in accordance with accounting principles generally accepted in the United States, for the fiscal years ended September 30, 2023 and 2024, and unaudited condensed consolidated interim financial statements for the six month periods ended March 31, 2024 and 2025.

Instruction 2 to Item 8.A.4 of Form 20-F (the "Instruction") provides that a company may comply with only the 15-month requirement in such item if the issuer is able to represent that it is not required to comply with the 12-month requirement in any other jurisdiction outside the United States and that complying with the 12-month requirement is impracticable or involves undue hardship.

Pursuant to the Instruction, the issuer hereby represents to the U.S. Securities and Exchange Commission that:

&nbsp;&nbsp;&nbsp;&nbsp;1. the
 Company is not currently a public reporting company in any jurisdiction;

&nbsp;&nbsp;&nbsp;&nbsp;2. the
 Company is not required by any jurisdiction outside the United States to comply with a requirement
 to issue audited financial statements not older than 12 months at the date of filing the
 Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;3. full
 compliance with Item 8.A.4 of Form 20-F at present is impracticable and involves undue hardship
 for the Company;

&nbsp;&nbsp;&nbsp;&nbsp;4. the
 Company does not anticipate that its audited financial statements for the fiscal year ended
 September 30, 2025 will be available until January 2026; and

&nbsp;&nbsp;&nbsp;&nbsp;5. in
 no event will the Company seek effectiveness of this registration statement on Form F-1 if
 its audited financial statements are older than 15 months at the time of the Company's
 initial public offering.

Date: December 8, 2025

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| | |
|:---|:---|
| **ECST HOLDINGS LIMITED** | **ECST HOLDINGS LIMITED** |
| By: | */s/ Yik Hang Chow* |
| Name: | Yik Hang Chow |
| Title: | Director and Chief Executive Officer |

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