Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 38

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 3
Chunk 38
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 and regulatory actions are new, however, it is highly uncertain how soon legislative or administrative regulation making
bodies in China will respond to them, or what existing or new laws or regulations will be modified or promulgated, if any, or what the
potential impact any such modified or new laws and regulations will be on our Operating Subsidiaries’ daily business operations
or our ability to accept foreign investments and list on a U. S. exchange. For further information, see “ Risks Factors - Risks Related
to Doing Business in the People’s Republic of China and Hong Kong.”

Any future action by the Chinese government
to exert more oversight and control over offerings that are conducted overseas and/or foreign investment in China-based issuers or expanding
the categories of industries and companies whose foreign securities offerings are subject to government review could significantly limit
or completely hinder our ability to offer or continue to offer securities to investors and cause the value of our securities to significantly
decline or the securities to become worthless

Recent statements by the Chinese
government have indicated an intent to exert greater oversight and control over offerings that are conducted overseas and/or over foreign
investments in China-based issuers. On July 6, 2021, the General Office of the Communist Party of China Central Committee and the General
Office of the State Council jointly issued a document to crack down on illegal activities in the securities market and promote the high-quality
development of the capital market, which, among other things, requires the relevant governmental authorities to strengthen cross-border
oversight of law-enforcement and judicial cooperation, to enhance supervision over China-based companies listed overseas, and to establish
and improve the system of extraterritorial application of the PRC securities laws.

Additionally, we could be subject
to various government and regulatory interference in the regions in which we operate, which could result in a material change in our operations
and the value of the securities. Pursuant to Article 6 of the Revised Draft, companies holding data of more than one million users must
now apply for cybersecurity approval when seeking overseas listings because of the risk that such data and personal information could
be “affected, controlled, and maliciously exploited by foreign governments.” As confirmed by our PRC counsel, Sundial Law
Firm we currently are not subject to cybersecurity review with the CAC to conduct business operations in China, given that: (i) we are
not the “operator of critical information infrastructure” or “online platform operator;” (ii) we