Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 97

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 5
Chunk 97
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─────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Europe                                                      66,708       65,419       68,528       8,822       3,109       4.8  
  North America                                               45,095       48,381       57,633       7,420       9,252      19.1  
  South America                                                2,704            -            -           -           -         -  
  Asia and others                                              5,221        5,310        6,746         868       1,436      27.0  
  Total revenues                                             119,728      119,110      132,907      17,110      13,797      11.6  

*Represents percentage of change from the fiscal year
ended December 31, 2023 to 2024

Fiscal Year End December 31, 2024 compared to Fiscal
Year End December 31, 2023

Revenues

Revenue increased by HK$13.8 million,
or 11.6%, to HK$132.9 million (US$17.1 million) for the fiscal year ended December 31, 2024 compared to HK$119.1 million for the same
period in 2023 primarily because of the increase in revenue from our flat iron and hair straightener products. Revenue decreased by HK$0.6
million, or 0.5%, to HK$119.1 million (US$15.2 million) for the fiscal year ended December 31, 2023 compared to HK$119.7 million for the
same period in 2022 primarily because of the decrease in revenue for our curling wand and iron products.

During our fiscal year ended December
31, 2024, the negative impact of the COVID-19 pandemic had greatly subsided, and industries, as well as consumer confidence, returned
to normal. Despite the continuous geopolitical tensions, high interest rate and inflation, together with weak consumer sentiment worldwide,
the Group has continuously improved its business model and strategies across all aspects of operations and given full play to its manufacturing
capacity and resources planning in response to fluctuations in the market demands and new ideas and needs from customers.

Cost of sales

Cost of sales includes the cost
of raw materials (such as costs of electrical components, packaging materials, metal materials, plastic particles and painting materials),