Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 22

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 3
Chunk 22
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 in all respects, and the current practice of
collecting and processing personal information may be ordered to be rectified or terminated by regulatory authorities. In the event
of a failure to comply, our Operating Subsidiaries may become subject to fines and other penalties, which may have a material
adverse effect on our business, operations and financial condition, may hinder our ability to offer or continue to offer Ordinary
Shares to investors and may cause our Ordinary Shares to significantly decline in value or become worthless.

  15  

If the Chinese government
chooses to exert more oversight and control over offerings that are conducted overseas and/or foreign investment in China-based
issuers, such action may significantly limit or completely hinder our ability to offer or continue to offer Ordinary Shares to
investors and cause our Ordinary Shares to significantly decline in value or become worthless. As of the date of this Annual Report, and
based on the advice of our PRC counsel, Sundial Law Firm, we believe that we are in full compliance with the rules and regulations
promulgated by the CAC and CSRC and associated policies as issued to current date.

These recent statements, laws
and regulations by the Chinese government, including the Measures for Cybersecurity Review (2021), the PRC Personal Information Protection
Law and the Trial Measures, have indicated an intent to exert greater oversight and control over offerings that are
conducted overseas and/or foreign investments in China-based issuers. It is uncertain whether the Chinese government will adopt additional
requirements or extend the existing requirements to apply to our Operating Subsidiaries located in Hong Kong. We could be subject to approval
or review of Chinese regulatory authorities. Any future action by the PRC government expanding the categories of industries and companies
whose foreign securities offerings are subject to review by the CSRC could significantly limit or completely hinder our ability to offer
or continue to offer securities to investors and could cause such securities to significantly decline in value or become worthless.

If the Chinese government were to impose new
requirements for approval from the PRC authorities to issue the Company’s Ordinary Shares to foreign investors or list on a foreign
exchange, such action could significantly limit or completely hinder our ability to offer or continue to offer securities to investors
and cause such securities to significantly decline in value or become worthless.

Recently, the General Office of
the Central Committee of the Communist Party of China and the General Office of the State Council jointly issued the “ Opinions on
Severely Cracking Down on Illegal Securities Activities According