Here are the 424B prospectus supplements from Wellchange Holdings Company Limited (WCT) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow WCT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full WCT filings page.
Wellchange Holdings Company Limited (WCT) is conducting a primary offering of up to 50,000,000 Class A Ordinary Shares at $0.15 per share on a best-efforts basis, for a maximum gross raise of $7,500,000. After placement fees and expenses, expected net proceeds are about $5.69 million, with no minimum offering amount or escrow, so any funds raised are immediately available to the company even if only a small portion of the maximum is sold.
Wellchange is a Cayman Islands holding company whose operations are conducted in Hong Kong through Wching HK, providing ERP and SaaS solutions mainly to SMBs. Revenue fell from $2.31 million in 2024 to $1.35 million in 2025, a 41.6% decline, and net loss widened to $7.32 million. Proceeds are earmarked 20% for sales and marketing, 10% for R&D, 30% for business expansion, 20% for strategic investments/treasury management, and 20% for working capital.
The structure involves investors holding shares in the Cayman holding company, not directly in the Hong Kong operating subsidiary, and the company highlights potential PRC long-arm and data/capital-control risks that could affect operations, cash transfers and listing status. WCT is an emerging growth company, a foreign private issuer, and a controlled company; following a full offering, the controlling shareholder is expected to hold about 75.58% of combined voting power.