Embrace Change Acquisition Corp.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers. On December 25, 2025, Embrace Change Acquisition Corp. (the “Company”) received a written notice from Jingyu Wang that he resigned from his position as the Company’s Chief Executive Officer, pending on the approval from the Company’s board of directors (the “Board”). Mr. Wang’s decision to resign was not due to any disagreements with the Company on any matter relating to the Company’s operations, policies, or practice. On December 26, 2025, the Board approved the resignation of Jingyu Wang from the Company’s Chief Executive Officer, and appointed Zheng Yuan, the Company’s Chief Financial Officer, as the Company’s Chief Executive Officer, in addition to her Chief Financial Officer position. Jingyu Wang has been the Company’s director since December 2022 and was the Company’s Chief Executive Officer from December 2022 to December 2025. Mr. Wang served as an advisor to the Company in connection with its initial public offering and public disclosures from September 2021 until his appointment as Chief Executive Officer. From October 2024, Mr. Wang has been a director and the secretary of the board of Hangzhou Tangji Medical Technology Co., Ltd, overseeing capital markets operations and managing investor relations. From June 2015 to September 2021, Mr. Wang served as the secretary of the board for 36Kr Holdings Inc., a company listed on Nasdaq (Nasdaq: KRKR), for which he coordinated the Company’s public disclosures. Mr. Wang received his bachelor’s degree in laws from China University of Political Science and Law in 2012. Zheng Yuan has been the Company’s Chief Financial Officer and a director since March 2021. From July 2024, Ms. Yuan has also been a weekend teacher at San Diego Huaxia Chinese School teaching Mandarin Chinese. From June 2017 until August 2021, Ms. Yuan was the Acting as CFO and Administrative Director of Ningbo Super fan Culture Media Co., Ltd., a joint stock limited company. From October 2010 until March 2016, she was the Vice President of International Banking for Bank of Beijing Co., Ltd. She received master’s and bachelor’s degrees from Tianjin University of Finance and Economics.