Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 104

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 5
Chunk 104
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 non-cash items and change in operating activities. Adjustments for non-cash
items consisted of depreciation of property and equipment of HK$0.5 million (US$65,000), amortization of right to use assets of
HK$6.8 million (US$0.9 million) and interest on lease liabilities of HK$0.4 million (US$47,000). Change in operating activities
mainly included decrease in inventories of HK$2.0 million (US$0.3 million) and decrease in prepaid expenses and other current assets
of HK$2.1 million (US$0.3 million), partially offset by an increase in accounts receivable of HK$5.9 million (US$0.8 million),
decrease in accounts payable of HK$4.1 million (US$0.5 million), decrease in other payables and accrued liabilities of HK$0.8
million (US$0.1 million) and payment on lease of HK$6.9 million (US$0.9 million).

For the fiscal year ended December 31, 2023, net cash provided by operating activities of HK$9.7 million was primarily the result of the
net loss of HK$1.5 million as adjusted for non-cash items and change in operating activities. Adjustments for non-cash items consisted
of depreciation of property and equipment of HK$0.5 million, amortization of right to use assets of HK$5.4 million and interest on lease
liabilities of HK$0.3 million. Change in operating activities mainly included increase in accounts payable of HK$5.1 million, increase
in other payables and accrued liabilities of HK$1.4 million, decrease in inventories of HK$1.4 million and decrease in prepaid expenses
and other current assets of HK$2.5 million, partially offset by an increase in accounts receivable of HK$0.8 million and payment on lease
of HK$6.3 million.

For the fiscal year ended December 31, 2022, net cash provided by operating activities of HK$5.7 million was primarily the result of the
net income of HK$8.7 million as adjusted for non-cash items and change in operating activities. Adjustments for non-cash items consisted
of depreciation of property and equipment of HK$0.7 million, amortization of right to use assets of HK$4.9 million