Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 102

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 5
Chunk 102
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 year
ended December 31, 2023.

  62  

Interest expense

For the fiscal year ended December
31, 2024, interest expense was HK$0.6 million (US$0.1 million), which decreased by HK$1.1 million from HK$1.7 million in the same period
in 2023. The decrease was due mainly to the decrease in average interest for the Group’s debt during the fiscal year.

Interest expense remained relatively
stable at HK$1.7 million and HK$1.6 million for the fiscal years ended December 31, 2023 and 2022.

Income (loss) before tax expense

As a result of the above,
the Company recorded a loss before tax expense of HK$13.7 million (US$1.8 million) for the fiscal year ended December 31, 2024, an
increase in loss of HK$12.4 million from HK$1.3 million for the fiscal year ended December 31, 2023. The increase in loss was mainly
due to the increase in general and administrative expense recognized during the fiscal year ended December 31, 2024. The Company
recorded a loss before tax expense of HK$1.3 million (US$0.2 million) for the fiscal year ended December 31, 2023, a decrease of
HK$10.3 million from HK$9.0 million for the fiscal year ended December 31, 2022.

Income tax expense

For the fiscal year ended
December 31, 2024, income tax expense was HK$1.7 million (US$0.2 million), which increased by HK$1.6 million from HK$0.1 million for
the year ended December 31, 2023. The increase was mainly due to an increase in taxable income generated from operations during the
fiscal year ended December 31, 2024.

For the fiscal year ended December
31, 2023, income tax expense was HK$0.1 million (US$17,000), which decreased by HK$0.2 million from HK$0.3 million for the year ended
December 31, 2022. The decrease was mainly due to a decrease in taxable income generated from operations during the fiscal year ended
December 31, 2023.

Net income (loss)

The net loss increased by HK$14.0
million from