ITEM 5.01 Changes in Control of Registrant.

On June 6, 2022, certain current shareholders listed in the table below (each, a "Seller," together, the "Sellers") of W&E Source Corp. (the "Company") entered into a Stock Purchase Agreement (the "SPA") with Hong Ba and Xingru Chen (each, a "Purchaser," together the "Purchasers"), for the sale and purchase of an aggregate of 118,123,001 shares of common stock of the Company (the "Shares"), subject to the terms and conditions contained in this Agreement. The SPA was a result of a privately negotiated transaction.

On June 8, 2022 the transactions contemplated by the SPA closed, and as a result, the Purchasers completed the acquisition of the Shares, representing approximately 90.80% of the Company's issued and outstanding shares of common stock for $11,812, which the Company believes was was funded out of the purchaser's personal funds. The consummation of the transactions contemplated by the SPA resulted in a change of control of the Company.

Pursuant to the provisions of the SPA, effective June 8, 2022, JunJun Wu resigned as a member of the Board of Directors of the Company. Hong Ba will continue to be a member of the Board of the Directors and as the Company's Chief Executive Officer and Chief Financial Officer. Further, in connection with the stock sale, effective as of the same date, the Board of Directors of the Company appointed Xingru Chen as a Director of the Company.

The Company is not aware of any arrangements that would result in change of control of the Company, other than the change of control reported above.

Except as described herein, there are no arrangements or understandings among members of both the former and new control persons and their associates with respect to the election of directors of the Company or other matters.



                                        Share          No. of         Share         Total
Buyers          Sellers               Percentage       Shares         Price         Price
Hong Ba         Maotang Bai                7.43%       9,671,391       0.0001        967.14

                Yongsheng Liang            7.36%       9,573,038       0.0001        957.30

                Qinrong Gao                5.36%       6,378,572       0.0001        637.86

                Feng Li                    1.15%       1,500,000       0.0001        150.00
Hong Ba Total
Purchase                                  20.85%      27,123,001                   2,712.30

Xingru Chen     Hong Ba                   16.91%      22,000,000       0.0001      2,200.00

                Junjun Wu                 11.53%      15,000,000       0.0001      1,500.00

                Lin Li                     3.62%       4,712,727       0.0001        471.27

                Qinrong Gao                5.36%         588,108       0.0001         58.81

                Youzhe Li                 11.02%      14,338,364       0.0001      1,433.84

                Shuzhen Lin                8.82%      12,975,800       0.0001      1,297.58

                Shanxi Ai Chen
                Technologies Inc.         16.44%      21,385,001       0.0001      2,138.50
Xingru Chen
Total Purchase                            69.95%      91,000,000                   9,100.00
Aggregate Total
Sale                                      90.80%     118,123,001                  11,812.30

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ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

The information provided in Item 5.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.02. There were no disagreements between JunJun Wu and the management of the Company. The Company has provided JunJun Wu a copy of the disclosures it is making in response to this Item 5.02.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.

Exhibit No.    Description
  10.1           Stock Purchase Agreement, dated June 6, 2022, by and Among the Purchasers and
               Sellers
104            Cover Page Interactive Data File (embedded within the Inline XBRL document)

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