Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 40

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 3
Chunk 40
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 were not required, our ability to offer or continue to offer our Ordinary Shares to
investors could be significantly limited or completed hindered, which could cause our Ordinary Shares to significantly decline in
value or become worthless. We may also face sanctions by the CSRC, the CAC or other PRC regulatory agencies. These regulatory
agencies may impose fines or penalties, limit our operations in China or take other actions that could have a material adverse
effect on our business, financial condition, results of operations and prospects, as well as the trading price of our
securities.

The promulgation of new laws or
regulations, or the new interpretation of existing laws and regulations, may restrict or otherwise unfavorably impact our ability or way
to conduct business and may require us to change certain aspects of our business to ensure compliance, which could decrease demand for
our services, reduce revenues, increase costs, require us to obtain more licenses, permits, approvals or certificates, or subject us to
additional liabilities.

Nasdaq may apply additional and more stringent
criteria for our continued listing.

Nasdaq Listing Rule 5101
provides Nasdaq with broad discretionary authority over the continued listing of our securities on Nasdaq. In general, Nasdaq may
use such discretion to deny initial listings, apply additional or more stringent criteria for the initial or continued listings of
particular securities or suspend or delist particular securities based on any event, condition or circumstance that exists or occurs
that makes initial or continued listing of the securities on Nasdaq inadvisable or unwarranted in the opinion of Nasdaq, even though
the securities meet all enumerated criteria for initial or continued listing on Nasdaq. In addition, Nasdaq has used its discretion
to deny initial or continued listings or to apply additional and more stringent criteria in certain instances, including but not
limited to where: (i) the company engaged an auditor that has not been subject to inspection by PCAOB, an auditor that the PCAOB
cannot inspect or an auditor that has not demonstrated sufficient resources, geographic reach or experience to adequately perform
the company’s audit; (ii) the company planned a small public offering, that would result in insiders holding a large
portion of the company’s listed securities; and (iii) the company did not demonstrate sufficient nexus to the U. S.
capital market, including having no U. S. shareholders, operations or members of the board of directors or management. If any such
concerns should apply to us