Wellchange Holdings Co Ltd
wchingtech.comWhat Do They Do?
Provides customized business software, cloud-based software platforms and white-label software design and development services to small and midsize businesses.
20-F for FY2025, filed May 14, 2026
How Do They Make Money?
Customers pay fixed prices for customized software and white-label development, generally in stages with part billed when the work is complete; they also pay subscriptions for access to the MR. CLOUD platform.
20-F for FY2025, filed May 14, 2026The Company is engaged to provide a wide range of customized IT software including desktop software development service, web and mobile…View ↗
The Company provides self-developed software as “white label” products to corporate customers. White label software is software that is…View ↗
The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers, and subsequently issued additional…View ↗
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20-F for FY2025, filed May 14, 2026
FY2025 revenue by product or service ↗
$1.3M
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20-F for FY2025, filed May 14, 2026
$1.3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Customized software solutions
Sold outright
20-F for FY2025, filed May 14, 2026 |
48%
FY2022: 50%
|
Customized software solutions, FY2025
$640.7K Sources
|
Sold outright |
|
White label software
Sold outright
20-F for FY2025, filed May 14, 2026 |
36%
FY2022: 46%
|
White label software, FY2025
$486.8K Sources
|
Sold outright |
|
Subscription services
Recurring
20-F for FY2025, filed May 14, 2026 |
16%
FY2022: 3.8%
|
Subscription services, FY2025
$220.6K Sources
|
Recurring |
Who Are Their Customers?
It sells to small and midsize businesses, principally in Hong Kong. Many new customers contact it directly by email or its website, while its sales team acquires other new clients.
20-F for FY2025, filed May 14, 2026We are an enterprise software solution services provider headquartered in Hong Kong. We conduct all operations in Hong Kong through our…View ↗
Our current sales and marketing efforts principally focus on the Hong Kong SMBs. Referrals, reputation, word-of-mouth, and promotion from…View ↗
Our sales team, led by our management, acquired the remainder of our new SME customers. Our centralized, highly trained team members are…View ↗
20-F for FY2025, filed May 14, 2026
For the year ended December 31, 2025, two customers accounted for 36.1% and 11.4% of our total revenues. The two customers signed Wching…View ↗
Do Revenues Turn Into Profits?
No. It lost $7.3M in FY2025.
20-F for FY2025, filed May 14, 2026
How Are They Changing?
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