Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 116

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 116
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 company and other non-resident enterprises in our group are transferees in such transactions, under Circular 698 and
Public Notice 7. For the transfer of shares to our company by investors that are non-PRC resident enterprises, our PRC subsidiaries may
be requested to assist in the filing under Circular 698 and Public Notice 7. As a result, we may be required to expend valuable resources
to comply with Circular 698 and Public Notice 7 to request the relevant transferors from whom we purchase taxable assets to comply with
these circulars, or to establish that our company and other non-resident enterprises in our group should not be taxed under these circulars,
which may have a material adverse effect on our financial condition and results of operations.

The PRC tax authorities have the
discretion under Circular 698 and Public Notice 7 to make adjustments to the taxable capital gains based on the difference between the
fair value of the taxable assets transferred and the cost of investment. If the PRC tax authorities make adjustments to the taxable income
of the transactions under Circular 698 and Public Notice 7, our income tax costs associated with such potential acquisitions will be increased,
which may have an adverse effect on our financial condition and results of operations.

Penalties for Failure to Pay Applicable PRC Income Tax

A non-resident investor in us
may be responsible for paying PRC tax on any gain realized from the sale or transfer of Antelope Enterprises’ securities if such
non-resident investor and the gain satisfy the requirements under the PRC tax laws, as described above.

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According to the EIT Law and its
implementing rules, the PRC Individual Income Tax Law and its implementing rules, the PRC Tax Administration Law (the “Tax Administration
Law”) and its implementing rules, the Provisional Measures for the Administration of Withholding of Enterprise Income Tax for Non-resident
Enterprises (the “Administration Measures”) and other applicable PRC laws or regulations (collectively the “Tax Related
Laws”), where any gain derived by a non-resident investor from the sale or transfer of Antelope Enterprises’ securities is
subject to any income tax in the PRC, and such non-resident investor fails to file any tax return or pay tax in this regard pursuant to
the Tax Related Laws, such investor may be subject to certain fines, penalties or punishments, including without limitation: (1) if the
non-resident investor fails to file a tax return and present