Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 32

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 32
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 or debentures,
guarantee of foreign indebtedness and other major capital changes not involving “return investment”, undertaken by an SPV;
and every Registrant must repatriate, within 180 days, dividends or profits which he receives from an SPV and/or income derived from changes
in the shareholding of an SPV. On July 14, 2014, China’s State Administration of Foreign Exchange (SAFE), the foreign exchange control
authority, released the Notice of the State Administration of Foreign Exchange on Relevant Issues Concerning Foreign Exchange Administration
for Overseas Investment, Financing and Round Trip Investment Undertaken by Domestic Residents via Special Purpose Vehicles (Notice 37).
The regulation took effect July 4, 2014. At that time, the old regulation, “Notice on Issues concerning Foreign Exchange Management
in Financing by PRC Residents by Overseas Special Purpose Vehicle and Return Investments” (the “No. 75 Notice”), which
was issued in 2005, was repealed. Compared with Circular 75, Circular 37 reflects the trend of SAFE’s policy to gradually loosen
the restrictions and simplify the procedures for overseas financing and investment by Chinese residents, so as to fully utilize the financial
resources in domestic and overseas markets. However, as Circular 37 has only recently been issued, the actual interpretation and enforcement
of the above changes by SAFE in practice remain to be seen. There can be no assurance that SAFE will not continue to issue new rules and
regulations and/or further interpretations of the No. 37 Notice that will strengthen the foreign exchange control. As our operating entities
are located in the PRC and all of our sales are denominated in RMB, our ability to pay dividends or make other distributions may be restricted
by PRC foreign exchange control restrictions. There can be no assurance that the relevant regulations will not be amended to our detriment
and that our ability to distribute dividends will not be adversely affected.

Introduction of new laws or changes to existing laws by the PRC government may adversely affect our business.

With the regulations concerning
data privacy and cybersecurity are developing in China, we may be subject to new laws and regulations when we operate our business.

On June 10, 2021, the Standing
Committee of the National People’s Congress promulgated the Data Security Law of the PRC, which took effect on September 1, 2021.
The Data Security Law clarifies the scope of data to cover a wide range of information records generated from all aspects of