EMCGF

SEC source: 0000899243-22-028814 · doc4a.xml · derivative · entry 4

Wuren Fubao Inc. · CIK 0001904733 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 46,718

Underlying: Ordinary shares, par value $0.0001 · 46,718 shares

Expires not disclosed

F7 · derivative.exercise_price: Each right entitles the holder to receive one-eighth (1/8) of one ordinary share upon consummation of the Company's initial business combination.

F3 · kind: Simultaneously with the consummation of the Company's IPO, the Sponsor acquired 373,750 units in a private placement (the "Private Units"). Each Private Unit consists of one ordinary share of the Company, par value $0.0001, one warrant to purchase one ordinary share at an exercise price of $11.50 per share (the "Warrants"), and one right entitling the holder to receive one-eighth (1/8) of one ordinary share upon consummation of the Company's initial business combination.

F4 · price: The Private Units were purchased for $10.00 per unit.

F7 · derivative.exercise_date: Each right entitles the holder to receive one-eighth (1/8) of one ordinary share upon consummation of the Company's initial business combination.

F7 · derivative.expiration_date: Each right entitles the holder to receive one-eighth (1/8) of one ordinary share upon consummation of the Company's initial business combination.

F2 · balance_after: The securities are owned directly by the Sponsor. Mr. Bin Li is the director of the Sponsor, and has voting and dispositive power over the shares held of record by the Sponsor. Mr. Bin Li disclaims any beneficial ownership of the securities held by the Sponsor, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-22-028814 · doc4a.xml · derivative · entry 3

Wuren Fubao Inc. · CIK 0001904733 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 373,750

Underlying: Ordinary shares, par value $0.0001 · 373,750 shares

Expires not disclosed

F3 · kind: Simultaneously with the consummation of the Company's IPO, the Sponsor acquired 373,750 units in a private placement (the "Private Units"). Each Private Unit consists of one ordinary share of the Company, par value $0.0001, one warrant to purchase one ordinary share at an exercise price of $11.50 per share (the "Warrants"), and one right entitling the holder to receive one-eighth (1/8) of one ordinary share upon consummation of the Company's initial business combination.

F4 · price: The Private Units were purchased for $10.00 per unit.

F5 · derivative.exercise_date: The Warrants will become exercisable at any time commencing 30 days after the completion of the Company's initial business combination.

F6 · derivative.expiration_date: The Warrants will expire five years after the completion of the Company's initial business combination or earlier upon redemption or liquidation.

F2 · balance_after: The securities are owned directly by the Sponsor. Mr. Bin Li is the director of the Sponsor, and has voting and dispositive power over the shares held of record by the Sponsor. Mr. Bin Li disclaims any beneficial ownership of the securities held by the Sponsor, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-22-028814 · doc4a.xml · nonDerivative · entry 2

Wuren Fubao Inc. · CIK 0001904733 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,221,964

F3 · kind: Simultaneously with the consummation of the Company's IPO, the Sponsor acquired 373,750 units in a private placement (the "Private Units"). Each Private Unit consists of one ordinary share of the Company, par value $0.0001, one warrant to purchase one ordinary share at an exercise price of $11.50 per share (the "Warrants"), and one right entitling the holder to receive one-eighth (1/8) of one ordinary share upon consummation of the Company's initial business combination.

F4 · price: The Private Units were purchased for $10.00 per unit.

F2 · balance_after: The securities are owned directly by the Sponsor. Mr. Bin Li is the director of the Sponsor, and has voting and dispositive power over the shares held of record by the Sponsor. Mr. Bin Li disclaims any beneficial ownership of the securities held by the Sponsor, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-22-028814 · doc4a.xml · nonDerivative · entry 1

Wuren Fubao Inc. · CIK 0001904733 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,848,214

F1 · kind: As contemplated in connection with the Embrace Change Acquisition Corp. (the "Company")'s initial public offering (the "IPO"), 20,536 founder shares were returned by Wuren Fubao Inc. (the "Sponsor") to the Company for no consideration and cancelled because the representative's over-allotment option was partially exercised and the remaining portion of the option would not be exercised by the representative.

F2 · balance_after: The securities are owned directly by the Sponsor. Mr. Bin Li is the director of the Sponsor, and has voting and dispositive power over the shares held of record by the Sponsor. Mr. Bin Li disclaims any beneficial ownership of the securities held by the Sponsor, except to the extent of his pecuniary interest therein.