New York, June 3, 2026, 12:08 (EDT)
- Wellchange shares more than doubled on Nasdaq in late-morning trading, with volume near 69.5 million shares.
- Cboe’s halt log showed three WCT volatility pauses during early U.S. trading.
- The move follows a reverse split in March. The 2025 annual report showed revenue fell and the loss widened.
Wellchange Holdings Co Ltd traded sharply higher Wednesday, jumping more than 100% to $2.63 in late morning on Nasdaq after opening at $1.60. The Hong Kong-based software company’s shares swung between $1.30 and a session high of $3.52. Volume was nearly 69.5 million shares.
WCT is working through the effects of a recent listing problem. Nasdaq told the company in March it was back in compliance with the $1 minimum price after WCT shares closed at or above $1 for 10 straight sessions, from March 6 to March 19.
WCT shares saw choppy trading. Nasdaq hit three volatility halts, according to the Cboe halt log, at 9:56:40, 10:30:42, and 10:36:56 a.m. ET. When a stock moves too fast or too far, these pauses stop trading so the order book can refresh.
The rally stood out while much of the market was lower. Wall Street’s run hit a pause Wednesday, as Reuters reported main indexes slipped. The Nasdaq Composite was off 0.52% at 10:55 a.m. ET, according to Yahoo Finance.
Wellchange, headquartered in the Cayman Islands, operates its Hong Kong unit under Wching Tech Ltd Co. The firm’s Class A ordinary shares trade on the Nasdaq Capital Market under the symbol WCT.
The company sells custom software, cloud SaaS tools, and white-label solutions. Its SaaS platforms let customers access software online with subscriptions, instead of running it on local systems.
Wellchange doesn’t have much direct competition due to its size. The stock’s jump was notable as other China software and cloud names lagged. Kingsoft Cloud fell 90.5 cents to $12.795, and Tuya was down 8.5 cents at $2.005 late in the U.S. morning.
Wellchange said in March it was trialing an AI-driven bookkeeping and bank statement analysis platform, with the company targeting a commercial launch in the second quarter if progress continues and market conditions allow. Chairman and CEO Shek Kin Pong called it a “significant milestone.” He said the aim is to “simplify daily accounting work.” GlobeNewswire
Wellchange shares surged Wednesday, but some traders say the move looks like a trade, not a shift in the company’s business. The 2025 annual report lists revenue falling 41.6% to around $1.35 million. Net loss widened to $7.32 million from $431,544 the prior year.
Core business slipped, according to the filing. Orders for customized software solutions fell to 12 for 2025, compared to 21 in 2024, with the company citing soft demand among small and medium-sized businesses and ongoing survival struggles in a tough economy.
Wellchange carried out a 1-for-50 reverse stock split on March 6, reducing its ordinary share count from 153.3 million to about 3.1 million. The split shrinks the total shares and pushes up the share price, but doesn’t change revenue, cash flow or profit.
