Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 39

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 3
Chunk 39
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 do not possess
a large amount of personal information in our business operations; and (iii) as of the date of this Annual Report, we have not been involved
in any investigations initiated by the CAC, nor have we received any inquiry, notice, warning or sanction in such respect.

  24  

On February 17, 2023, with the
approval of the State Council, the China Securities Regulatory Commission (the “ CSRC”) promulgated the Trial Administrative
Measures of Overseas Securities Offering and Listing by Domestic Companies (“ Trial Measures”), and five supporting guidelines,
which came into effect on March 31, 2023. Pursuant to the Trial Measures, domestic companies that seek to offer or list securities overseas,
both directly and indirectly, shall complete filing procedures with the CSRC pursuant to the requirements of the Trial Measures within
three working days following their submission of initial public offerings or listing applications. If a domestic company fails to complete
the required filing procedures or conceals any material fact or falsifies any major content in its filing documents, such domestic company
may be subject to administrative penalties, such as an order to rectify, warnings and fines, and its controlling shareholders, actual
controllers, the person directly in charge and other directly liable persons may also be subject to administrative penalties, such as
warnings and fines.

As of the date of this Annual
Report, we have not received any formal inquiry, notice, warning, sanction or objection from the CSRC with respect to the listing of
our Ordinary Shares and, in the opinion of our PRC legal counsel, Sundial Law Firm, the filing requirements under the Trial Measures
do not apply to the Company since: (i) the revenue, total profit, total assets or net assets of FPPF was less than 50% of that of the
Company in total for the fiscal years ended December 31, 2023 and 2022; and (ii) the majority of senior management are non-PRC citizens
and reside in Hong Kong.

However, there can be no
assurance that the relevant PRC governmental authorities, including the CSRC, would reach the same conclusion as us, or that the
CSRC or any other PRC governmental authorities would not promulgate new rules or new interpretation of current rules (with
retrospective effect) to require us to obtain CSRC or other PRC governmental approvals for our recent IPO or future offerings. If we
inadvertently concluded that such approvals