Embrace Change Acquisition Corp.

The Company is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses. The Company’s efforts to identify a prospective target business will not be limited to a particular business, industry, sector or geographical region, although the Company will not consider or undertake a business combination with an entity or business based in, or with its principal or a majority of its business operations (either directly or through any subsidiaries) in, the People’s Republic of China (including Hong Kong and Macau), and, for the avoidance of doubt, it will not enter into an agreement for, or consummate its initial business combination with, such an entity or business, or consummate its initial business combination in circumstances where it is the counterparty to a VIE or other arrangement with a China-based entity. The Company is led by Jingyu Wang, the Company’s Chairman of the Board and Chief Executive Officer, and Zheng Yuan, the Company’s Chief Financial Officer.