Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 126

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 126
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 the U.S. Holder holds (or is deemed to hold) shares in Antelope Enterprises, however, will not be subject to the PFIC
tax and interest charge rules discussed above in respect to such shares. In addition, such U.S. Holder will not be subject to the QEF
inclusion regime with respect to such shares for any taxable year of Antelope Enterprises that ends within or with a taxable year of the
U.S. Holder and in which Antelope Enterprises is not a PFIC. On the other hand, if the QEF election is not effective for each of the taxable
years of Antelope Enterprises in which Antelope Enterprises is a PFIC and during which the U.S. Holder holds (or is deemed to hold) shares
in Antelope Enterprises, the PFIC rules discussed above will continue to apply to such shares unless the holder files on a timely filed
U.S. income tax return (including extensions) a QEF election and a purging election to recognize under the rules of Section 1291 of the
Code any gain that the U.S. Holder would otherwise recognize if the U.S. Holder had sold its shares for their fair market value on the
“qualification” date. The qualification date is the first day of Antelope Enterprises’ tax year in which it qualifies
as a QEF with respect to such U.S. Holder. The purging election can only be made if such U.S. Holder held shares on the qualification
date. The gain recognized by the purging election will be subject to the special tax and interest charge rules treating the gain as an
excess distribution, as described above. As a result of the purging election, the U.S. Holder will increase the adjusted tax basis in
its shares by the amount of the gain recognized and will also have a new holding period in the shares for purposes of the PFIC rules.

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Alternatively, if a U.S. Holder,
at the close of its taxable year, owns shares in a PFIC that are treated as marketable stock, the U.S. Holder may make a mark-to-market
election with respect to such shares for such taxable year. If the U.S. Holder makes a valid mark-to-market election for the first taxable
year of the U.S. Holder in which the U.S. Holder holds (or is deemed to hold) shares in Antelope Enterprises and for which Antelope Enterprises
is determined to be a PFIC, such holder generally will not be subject to the