Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 64

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 64
---
 internet shows or programs and internet animations shall obtain
operating permit on internet culture. If any entity engages in commercial internet culture activities without approval, the cultural administration
authorities may order such entity to cease to operate internet culture activities as well as levying penalties including administrative
warning and fines up to RMB30,000 depending on the severity of cases. As a SaaS provider, we cooperated with dozens of livestreaming platforms.
As of the date of this annual report, we are not required to hold a valid operating permit on internet culture activities.

Government Regulations Relating to Foreign Exchange Controls

The principal regulation governing
foreign exchange in the PRC is the Foreign Currency Administration Rules and a series of implementing rules and regulations, as amended.
Under these rules, the Renminbi, the PRC’s currency, is freely convertible for trade and service related foreign exchange transactions
(such as normal purchases and sales of goods and services from providers in foreign countries), but not for direct investment, loan or
investment in securities outside of China unless the prior approval of the State Administration for Foreign Exchange, or SAFE, of the
PRC is obtained. Foreign investment enterprises, or FIEs, are required to apply to the SAFE for Foreign Exchange Registration Certificates
for FIEs. With such registration certificates, which need to be renewed annually, FIEs are allowed to open foreign currency accounts including
a basic account and capital account. Currency translation within the scope of the basic account, such as remittance of foreign currencies
for payment of dividends, can be effected without requiring the approval of the SAFE. Such transactions are subject to the consent of
PRC banks which are authorized by the SAFE to review basic account currency transactions. However, conversion of currency in the capital
account, including capital items such as direct investment, loans and securities, still require approval of the SAFE. On November 21,
2005, the SAFE issued Circular No. 75 on Relevant Issues Concerning Foreign Exchange Control on Domestic Residents Corporate Financing
and Roundtrip Investment Through Offshore Special Purpose Vehicles. Circular No. 75 confirms that the use of offshore special purpose
vehicles as holding companies for PRC investments are permitted, but proper foreign exchange registration applications are required to
be reviewed and accepted by the SAFE.

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Regulation of Foreign Currency Exchange

Foreign currency exchange in the
PRC is governed by a series of regulations, including, without limitation, the Foreign Currency Administrative Rules (1996), as amended,
and the Administrative