Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 67

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 67
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. Therefore, Mr. Wong Kung Tok, from June 30, 2009 to November
20, 2009, indirectly owned 100% of Stand Best and in turn, 100% of Hengda.

| 38 |

CHAC was incorporated in Delaware
on June 22, 2007 and was organized as a blank check company for the purpose of acquiring, through a stock exchange, asset acquisition
or other similar business combination, or controlling, through contractual arrangements, an operating business that had its principal
operations in Asia, with a focus on potential acquisition target in China.

Pursuant to the terms of a merger
and stock purchase agreement dated August 19, 2009, on November 20, 2009, CHAC merged with and into Antelope Enterprises, its wholly owned
British Virgin Islands subsidiary, and immediately thereafter, as part of the same integrated transaction, Antelope Enterprises acquired
all of the outstanding securities of Success Winner.

Prior to Antelope Enterprises’
acquisition of Success Winner, neither CHAC nor Antelope Enterprises had any operations.

On November 19, 2009, Hengda entered
into a definitive acquisition agreement to acquire a new production facility in Gaoan, Jiangxi Province, PRC by purchasing 100% of the
equity interests in Hengdali. The closing of the acquisition was subject to the Gaoan City Administration for Industry and Commerce transferring
the registration and business license of Hengdali from Hengdali’s former shareholders to Hengda. The transfer occurred on January
8, 2010. Hengda appointed an executive officer to take control over Hengdali’s operating and financing activities on the same day.
In total, Hengda assumed loans of RMB 60.0 million and paid cash consideration of RMB 185.5 million for the acquisition, of which RMB
145.4 million was advanced to Hengdali’s former shareholders by December 31, 2009.

On September 22, 2017, Success Winner incorporated a 100% owned subsidiary Vast Elite Limited in Hong Kong with initial registered capital of HKD1. Vast Elite is engaged in the trading of building materials but during the year ended December 31, 2020, Vast Elite had no operations.

On November 20, 2019, Vast Elite incorporated a 100% owned subsidiary Chengdu Future Talented Management and Consulting Co, Ltd