Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 131

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 131
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 in interest-bearing
bank deposits. Interest-earning instruments carry a degree of interest rate risk. As of December 31, 2023, our total outstanding loans
for the continuing operations amounted to RMB nil. We have not been exposed, nor do we anticipate being exposed, to material risks due
to changes in market interest rates.

Foreign Currency Risk

As of December 31, 2023, nearly
all of our monetary assets and monetary liabilities were denominated in RMB except for certain bank balances, bank borrowings and other
payables which were denominated in US dollars. However, in the future, a proportion of our sales may be denominated in other currencies
as we expand into overseas markets. In such circumstances, we anticipate our primary market risk, if any, to be related to fluctuations
in exchange rates. Exchange rate risk may arise if we are required to use different currencies for various aspects of its operations.

The Renminbi’s exchange
rate with the U.S. dollar and other currencies is affected by, among other things, changes in China’s political and economic conditions.
The exchange rate for conversion of Renminbi into foreign currencies is heavily influenced by intervention in the foreign exchange market
by the People’s Bank of China. From 1995 until July 2005, the People’s Bank of China intervened in the foreign exchange market
to maintain an exchange rate of approximately 8.3 Renminbi per U.S. dollar. On July 21, 2005, the PRC government changed this policy and
began allowing modest appreciation of the Renminbi versus the U.S. dollar. However, the Renminbi is restricted to a rise or fall of no
more than 0.5% per day versus the U.S. dollar, and the People’s Bank of China continues to intervene in the foreign exchange market
to prevent significant short-term fluctuations in the Renminbi exchange rate. On March 17, 2014, the People’s Bank of China announced
that the RMB exchange rate flexibility increased to 2% in order to proceed further with reform of the RMB exchange rate regime. These
could result in a further and more significant floatation in the RMB’s value against the U.S. dollar. The international reaction
to the RMB revaluation has generally been positive. But, international pressure continues to be placed on the Chinese government to adopt
an even more flexible currency policy, which could result in significant fluctuation of the R