SCHEDULE: Chan Fuk Hing Acquires 13.77% Stake in Wellchange Holdings

Chan Fuk Hing has acquired 20 million Class A Ordinary Shares of Wellchange Holdings Co Ltd, representing a 13.768% stake, for investment purposes.

Summary

• Chan Fuk Hing, a Director at Kao Kao Shi, acquired 20,000,000 Class A Ordinary Shares of Wellchange Holdings Co Ltd.
• The acquisition took place on September 9, 2025, at a purchase price of US$0.04 per share, totaling an aggregate purchase price of US$800,000.
• The shares were acquired pursuant to a securities purchase agreement dated September 9, 2025, between the Issuer and certain investors, including Chan Fuk Hing.
• The source of funds for the acquisition was Chan Fuk Hing's personal funds, with no borrowed funds involved.
• This acquisition represents 13.768% of the total 145,265,000 issued and outstanding Class A Ordinary Shares of Wellchange Holdings Co Ltd.
• Chan Fuk Hing holds sole voting and dispositive power over all 20,000,000 acquired shares.
• The stated purpose of the transaction is for investment, with the Reporting Person potentially seeking to influence the Issuer's management and strategic direction.

Sentiment

Score: 7

Explanation: The acquisition of a significant stake by an individual investor, funded by personal capital and with an intent to influence management, generally signals confidence and potential for strategic engagement, which can be viewed positively.

Positives

• A significant investment of US$800,000 by an individual investor, Chan Fuk Hing, signals confidence in Wellchange Holdings Co Ltd.
• The acquisition was funded entirely by personal funds, indicating strong conviction and no reliance on borrowed capital for this stake.
• The investor's intent to potentially influence management and strategic direction could lead to enhanced corporate governance or strategic improvements.

Future Outlook

Chan Fuk Hing acquired the shares for investment purposes and may, from time to time, seek to influence Wellchange Holdings Co Ltd's management and strategic direction.

Stakeholder Impact

• Shareholders: Increased shareholder oversight and potential strategic shifts due to a significant new investor, which could impact long-term company direction and value.
• Management: Potential for increased engagement and influence from a significant shareholder regarding strategic decisions and operational direction.

Next Steps

• Chan Fuk Hing may seek to influence Wellchange Holdings Co Ltd's management and strategic direction.

Key Dates

Recommendation

The acquisition of a significant 13.768% stake by Chan Fuk Hing, funded by personal capital and with an stated intent to influence management and strategic direction, introduces a new influential shareholder. This development warrants a 'hold' recommendation to observe how this new ownership impacts corporate strategy and performance before making a more definitive investment decision.

Keywords

Wellchange Holdings Co Ltd, Chan Fuk Hing, Schedule 13D, Class A Ordinary Shares, Beneficial Ownership, Significant Shareholder, Investment, Corporate Governance