XChange TEC.INC

The company, as of the date of this annual report, conducts professional insurance agency and insurance technology businesses in the People's Republic of China (PRC). On October 31, 2023, the company sold its equity interest in Haoju to Wangxiancai Limited. In the second half of 2023, the company's rental apartment business was operating at a financial loss. On September 12, 2024, the company sold its equity interest in QK365, FENGLINJU PROPERTY (CHINA) LIMITED, and Shanghai Meileju Intelligent Technology Co., Ltd to Wangxiancai Limited. As a result, the company no longer conducts the long-term apartment rental business as of the date of this annual report. Following these disposals, on December 28, 2023, the company acquired Alpha Mind, an insurance agency and insurance technology business in the PRC. Through its Current VIEs, the company holds the required insurance agent operating license under applicable PRC laws. The company provides a wide variety of insurance products underwritten by major insurance companies, including industry-leading and/or state-owned property and casualty insurance companies, as well as certain regional property and casualty insurance companies in China. The company is not involved in underwriting insurance policies.