| PARENT ONLY FINANCIAL INFORMATION |
19.
PARENT ONLY FINANCIAL INFORMATION
The Company did not have significant capital
and other commitments, long-term obligations, or guarantees as of December 31, 2024 and 2025. Certain information and footnote disclosures
generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. The following presents condensed parent
company only financial information of Wellchange Holdings Company Limited.
Condensed balance sheets
| | |
As of December 31, | |
| | |
2024 | | |
2025 | |
| | |
US$ | | |
US$ | |
| ASSETS | |
| | |
| |
| Non-current assets: | |
| | |
| |
| Investment in a subsidiary | |
| 1 | | |
| 1 | |
| Amounts due from a subsidiary | |
| 2,585,944 | | |
| 15,696,933 | |
| Deferred offering cost | |
| 620,193 | | |
| — | |
| Total non-current assets | |
| 3,206,138 | | |
| 15,696,934 | |
| TOTAL ASSETS | |
| 3,206,138 | | |
| 15,696,934 | |
| | |
| | | |
| | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | |
| Amounts due to a director | |
| 1 | | |
| 1 | |
| Total current liabilities | |
| 1 | | |
| 1 | |
| TOTAL LIABILITIES | |
| 1 | | |
| 1 | |
| | |
| | | |
| | |
| Commitments and contingencies (Note 17) | |
| | | |
| | |
| | |
| | | |
| | |
| Shareholders’ equity | |
| | | |
| | |
| Class A Ordinary shares, US$0.0025 par value, 18,000,000 shares authorized, and 265,300 shares and 2,905,300 shares issued and outstanding as of December 31, 2024 and 2025, respectively* | |
| 663 | | |
| 7,263 | |
| Class B Ordinary shares, US$0.0025 par value, 2,000,000 shares authorized, and 160,000 shares and 160,000 shares outstanding as of December 31, 2024 and 2025, respectively* | |
| 400 | | |
| 400 | |
| Additional paid-in capital | |
| 3,583,180 | | |
| 17,152,709 | |
| Accumulated losses | |
| (378,106 | ) | |
| (1,463,439 | ) |
| Total shareholders’ equity | |
| 3,206,137 | | |
| 15,696,933 | |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| 3,206,138 | | |
| 15,696,934 | |
Condensed statements of loss
| | |
Years ended December 31, | |
| | |
2024 | | |
2025 | |
| | |
US$ | | |
US$ | |
| OPERATING EXPENSES | |
| | |
| |
| Legal and professional fees | |
| — | | |
| (205,333 | ) |
| Staff costs and employee benefits | |
| — | | |
| (880,000 | ) |
| Others | |
| — | | |
| — | |
| TOTAL OPERATING EXPENSES | |
| — | | |
| (1,085,333 | ) |
| Income tax expense | |
| — | | |
| — | |
| NET LOSS | |
| — | | |
| (1,085,333 | ) |
| * | Giving retroactive effect to (i) a share re-designation of 900,000,000 Class A ordinary shares and 100,000,000 Class B ordinary shares on August 7, 2025 and reverse stock split of the Company’s Class A ordinary shares and Class B ordinary shares on 1-for-50 basis, which became effective on March 6, 2026. |
Condensed statements of cash flows
| | |
Years ended December 31, | |
| | |
2024 | | |
2025 | |
| | |
US$ | | |
US$ | |
| Cash flows from operating activities: | |
| | |
| |
| Net loss | |
| — | | |
| (1,085,333 | ) |
| Adjustments to reconcile net loss to net cash provided by operating activities | |
| | | |
| | |
| Share-based payments | |
| — | | |
| 1,085,333 | |
| Cash used in operating activities | |
| — | | |
| — | |
| | |
| | | |
| | |
| Cash flows from financing activities: | |
| | | |
| | |
| Proceeds from initial public offerings | |
| 4,019,673 | | |
| — | |
| Proceeds from placements | |
| — | | |
| 12,344,129 | |
| Payment for deferred offering cost | |
| (620,193 | ) | |
| — | |
| Advance from (to) a subsidiary | |
| (3,390,220 | ) | |
| (12,344,129 | ) |
| Repayment to a director | |
| (9,260 | ) | |
| — | |
| Settlement of subscription receivables from shareholders | |
| — | | |
| — | |
| Cash provided by financing activities | |
| — | | |
| — | |
| | |
| | | |
| | |
| Net change in cash and cash equivalents | |
| | | |
| | |
| Cash and cash equivalents at beginning of the year | |
| — | | |
| — | |
| Cash and cash equivalents at the end of the year | |
| — | | |
| — | |
|