Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 22

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 22
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● any other reasons.

Our electricity generators will be subject to impairments.

If we were to experience a significant
reduction in our expected revenues and operating cash flows for our energy supply business for an extended period of time from a prolonged
economic downturn or from advances or changes in technologies, we could experience future impairments of our electricity generators as
a result. There can be no assurance that any such losses or impairments to the carrying value of our financial assets would not have a
material adverse effect on our financial condition, results of operations and cash flows.

State legislative and regulatory action could adversely affect our competitive position and business.

Certain states such as the state of Texas ave taken or are
considering taking anticompetitive actions by subsidizing or otherwise providing economic support to existing, uneconomic power plants
in a manner that could have an adverse effect on the deregulated power markets. If these anticompetitive actions are ultimately upheld
and implemented, they could adversely affect capacity and energy prices in the deregulated electricity markets or impede our ability to
maintain or expand our retail operations which in turn could have a material adverse effect on our business prospects and financial results.

Existing and future anticipated environmental regulations could cause us to incur significant costs and adversely affect our operations generally or in a particular quarter when such costs are incurred.

Our planned power generation
business might be subject to environmental laws and regulations. Environmental laws and regulations have generally become more
stringent over time, and this trend is likely to continue. We will continue to monitor and actively participate in initiatives where
we anticipate a material effect on our business.

Environmental regulations could
also affect the availability and price of natural gas to be used in our generation facilities.

| 13 |

Risk Factors Relating to Our Operations in China

Violation of Foreign Corrupt Practices Act or China anti-corruption law could subject us to penalties and other adverse consequences.

We are subject to the United States
Foreign Corrupt Practices Act, which generally prohibits United States public companies from bribing or making prohibited payments to
foreign officials to obtain or retain business. PRC law also strictly prohibits bribery of government officials. While we take precautions
to educate our employees about the Foreign Corrupt Practices Act and Chinese anti-corruption law, there can be no assurance that we or
the employees or agents of our subsidiaries will not engage in such conduct, for which we may be held responsible. If that were to occur,
we could suffer penalties that may have a material adverse effect on our business, financial condition