Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 65

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 65
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 Regulations Regarding Settlement, Sale and Payment of Foreign Exchange (1996), as amended. Under these regulations,
the Renminbi is freely convertible for trade and service-related foreign exchange transactions, but not for direct investment, loans or
investments in securities outside China without the prior approval of the SAFE. Pursuant to the Administrative Regulations Regarding Settlement,
Sale and Payment of Foreign Exchange, foreign-invested enterprises in China may purchase foreign exchange without the approval of the
SAFE for trade and service-related foreign exchange transactions by providing commercial documents evidencing these transactions. They
may also retain foreign exchange, subject to a cap approved by SAFE, to satisfy foreign exchange liabilities or to pay dividends. However,
the relevant Chinese government authorities may limit or eliminate the ability of foreign-invested enterprises to purchase and retain
foreign currencies in the future. In addition, foreign exchange transactions for direct investment, loan and investment in securities
outside China are still subject to limitations and require approvals from the SAFE. On August 29, 2008, SAFE issued Circular No. 142 on
Relevant Business Operations Issues Concerning Improving the Administration of the Payment and Settlement of Foreign Exchange Capital
of Foreign-Invested Enterprises, with respect to the administration of conversion of foreign exchange capital contributions of FIEs into
Renminbi, unless otherwise permitted by PRC laws or regulations, Renminbi converted from foreign exchange capital contributions can only
be applied to activities within the approved business scope of FIEs and cannot be used for domestic equity investment or acquisitions.

Regulation of Dividend Distribution

The principal laws and regulations
in China governing distribution of dividends by foreign-invested companies include:

| ● | The Sino-foreign Equity Joint Venture Law (1979), as amended; |

| ● | The Regulations for the Implementation of the Sino-foreign Equity Joint Venture Law (1983), as amended; |

| ● | The Sino-foreign Cooperative Enterprise Law (1988), as amended; |

| ● | The Detailed Rules for the Implementation of the Sino-foreign Cooperative Enterprise Law (1995), as amended; |

| ● | The Foreign Investment Enterprise Law (1986), as amended; and |

| ● | The Regulations of Implementation of the Foreign Investment Enterprise Law (1990), as amended. |

Under these regulations, foreign-invested
enterprises in China may pay dividends only out of their accumulated profits, if any, determined in accordance with Chinese accounting
standards and regulations. In addition, wholly foreign-owned enterprises