Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 48

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 3
Chunk 48
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 enforcement in China or Hong Kong of judgments of a court in any of these non-PRC or Hong Kong jurisdictions in relation
to any matter not subject to a binding arbitration provision may be difficult or impossible.

Shareholder claims that are common
in the United States, including securities law class actions and fraud claims, generally are difficult to pursue as a matter of law or
practicality in China or Hong Kong. For example, in China, there are significant legal and other obstacles to obtaining information needed
for shareholder investigations or litigation outside China or otherwise with respect to foreign entities. Although the local authorities
in China may establish a regulatory cooperation mechanism with the securities regulatory authorities of another country or region to implement
cross-border supervision and administration, such regulatory cooperation with the securities regulatory authorities in the United States
have not been efficient in the absence of mutual and practical cooperation mechanism. According to Article 177 of the PRC Securities Law
which took effect in March 2020, no overseas securities regulator is allowed to directly conduct investigation or evidence collection
activities within the territory of the PRC. Accordingly, without the consent of the competent PRC or Hong Kong securities regulators and
relevant authorities, no organization or individual may provide the documents and materials relating to securities business activities
to overseas parties.

  29  

Certain judgments obtained against us by our
shareholders may not be enforceable.

We are a Cayman Islands exempted
company and substantially all of our assets are located outside of the United States. In addition, all of our current directors and officers
are nationals and residents of countries other than the United States and substantially all of the assets of these persons are located
outside the United States. As a result, it may be difficult for a shareholder to effect service of process within the United States upon
these persons or to enforce against us or them judgments obtained in United States courts, including judgments predicated upon the civil
liability provisions of the securities laws of the United States or any state in the United States. Even if you are successful in bringing
an action of this kind, the laws of the Cayman Islands may render you unable to enforce a judgment against our assets or the assets of
our directors and officers. As a result of all of the above, our shareholders may have more difficulties in protecting their interests
through actions against us or our officers, directors or major shareholders than would shareholders of a corporation incorporated in a
jurisdiction in the United States.

Our Ordinary Shares may be subject to rapid
and substantial price volatility