Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 42

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 3
Chunk 42
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 encounter such volatility, it will likely make it difficult and confusing for prospective investors
to assess the rapidly changing value of our Ordinary Shares and understand the value thereof.

We also anticipate that our Ordinary
Shares are likely to be more sporadically and thinly traded than that of larger, more established companies with larger public floats.
As a consequence of this lack of liquidity, the trade of relatively small quantities of Ordinary Shares by our stockholders may disproportionately
influence the price of those shares in either direction. The price of our Ordinary Shares could, for example, decline precipitously in
the event that a large number of our Ordinary Shares are sold on the market without commensurate demand as compared to a larger, more
established issuer that could better absorb those sales without adverse impact on its stock price.

If securities or industry analysts do not publish
research or publish unfavorable or inaccurate research about our business, the market price and trading volume of our Ordinary Shares
could decline.

The market price and trading volume
of our Ordinary Shares will be heavily influenced by the way analysts interpret our financial information and other disclosures. We do
not have control over these analysts. If few securities analysts commence coverage of us, or if industry analysts cease coverage of us,
our Ordinary Share price could be negatively affected. If securities or industry analysts do not publish research or reports about our
business, downgrade our Ordinary Shares, or publish negative reports about our business, our Ordinary Share price would likely decline.
If one or more of these analysts cease coverage of us or fail to publish reports on us regularly, demand for our Ordinary Shares could
decrease, which might cause our Ordinary Share price to decline and could decrease the trading volume of our Ordinary Shares.

Because we do not expect to pay dividends in
the foreseeable future, you must rely on price appreciation of our Ordinary Shares for a return on your investment.

We currently intend to retain
all of our available funds and any future earnings to fund the development and growth of our business. As a result, we do not expect to
pay any cash dividends in the foreseeable future. Therefore, you should not rely on an investment in our Ordinary Shares as a source for
any future dividend income. Our Board of Directors has complete discretion as to whether to distribute dividends, subject to certain requirements
of Hong Kong law. Even if our Board of Directors decides to declare and pay dividends, the timing, amount and form of future dividends,
if any, will depend on, among other things, our future results of operations and cash flow,