Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 126

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 7
Chunk 126
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32  
  Li Siu Lun Allan                                                         0       0.00  
  Wang Zhiyong                                                             0       0.00  
  Wu Qiuxia                                                                0       0.00  
  Zhang Peng                                                               0       0.00  
  Dai Lei                                                                  0       0.00  
                                                                           0       0.00  
  All executive officers and directors as a group (7 persons)      8,000,000      72.32  
  5% Shareholders:                                                                       
  Luxury Max Investments Limited (2)                               8,000,000      72.32  

  (1)      Based on 11,062,500 Ordinary Shares issued and outstanding as of the date of this Annual Report                                                                        
  (2)      Represents shares owned of record by Luxury Max Investments Limited                                                                                                    

Related Party Transactions

Related Parties

We have adopted an audit committee
charter, which was amended on April 16, 2024, which requires the committee to review all related-party transactions on an ongoing basis
and all such transactions be approved by the committee.

During the fiscal years ended
December 31, 2024, 2023 and 2022, we, including the Operating Subsidiaries, entered into the following transactions with our related parties:

  77  

Sale / Lease of Office

In December 2022, FIL sold its
headquarters and sales office in Hong Kong to Mr. Li Kin Shing, the Company’s then Executive Director and sole shareholder,
for a consideration of HK$13,880,000. The carrying net book value of the office as of the transaction date was HK$1,349,000 and, thus,
one-off gain on disposal of the property of HK$12,531,000 was recognized in the income statements of the Group for the year ended December
31, 2022. This gain on disposal of the property was regarded as capital gain and classified as non-taxable income under the tax rule of
Hong Kong. The HK$13,880,000 receivable from Mr. Li Kin Shing representing the consideration was offset against the amount due to Mr.
Li Kin Shing and the HK$10,000,000 dividend declared for the year ended December 31, 2022.

After the disposal of the office,
FIL continued to occupy the office and entered into a lease agreement with Mr. Li Kin Shing to lease the office