Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 168

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 18
Chunk 168
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 price of $ 5.00 per share after the offering. The Shares were approved for listing on The Nasdaq Capital Market and commenced trading     
  under the ticker symbol “ FEBO.” On January 11, 2024, the representative of the underwriters partially exercised the over-allotment       
  option and on January 16, 2024 purchased 62,500 ordinary shares at the IPO price of $ 5.00 per share.                                     
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The
accompanying notes are an Integral part of these consolidated financial statements.

  F-4  

FENBO
HOLDINGS LIMITED

CONSOLIDATED
STATEMENTS OF CASH FLOWS

(Amount
in thousands, except for share and per share data, or otherwise noted)

                                                                                                           2022                                           2023                      2024                                
                                                                                                           For                                                                                                          
                                                                                                           the year ended December 31,                                                                                  
                                                                                                           2022                                           2023                      2024                                
                                                                                                           HK$’000                                        HK$’000                   HK$’000                             
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Operating activities                                                                                                                                                                                                  
  Net income (loss)                                                                                                                            8,653                   ( 1,462                   ( 15,482      ( 1,993  
  Adjustments to reconcile net income to net                                                                                                                                                                            
  Depreciation                                                                                                                                   702                       506                        505           65  
  Amortization of right to use assets                                                                                                          4,862                     5,410                      6,824          879  
  Interest on lease liabilities                                                                                                                  469                       313                        368           47  
  (Gain) Loss on disposal of property, plant                                                                                                ( 12,458                         1                          -            -  
  Change in operating assets and liabilities:                                                                                                                                                                           
  Change in accounts receivable                                                                                                               10,228                       789                    ( 5,856        ( 754  
  Change in inventories                                                                                                                        4,217                     1,475                      1,981          255  
  Change in prepaid expenses and other current                                                                                               ( 2,977                     2,526                      2,166          279  
  Change in accounts payable                                                                                                                 ( 2,