Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 198

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 198
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 of 886,000(pre-reverse split) shares to its directors as a Share Compensation expense. The fair value of 886,000(pre-reverse split) shares was $ 1,311,280.

From January 1 to December 31, 2024, the Company issued an aggregate of 910,490(pre-reverse split) shares to its employees as a Share Compensation expense. The fair value of 910,490(pre-reverse split) shares was $ 540,340.

From January 1 to December 31, 2024, the Company issued aggregate of 591,278(pre-reverse split) shares to its consultants or consulting firms as Share Compensation expense. The fair value of 591,728(pre-reverse split) shares was $ 795,097.

22. RESERVES

| (a) | Statutory reserve                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|     | In accordance with the relevant laws and regulations of the PRC, the Company’s PRC subsidiaries are required to transfer 10% of its profit after taxation prepared in accordance with the accounting regulation of the PRC to the statutory reserve until the reserve balance reaches 50% of the respective registered capital. Such reserve may be used to offset accumulated losses or increase the registered capital of these subsidiaries, subject to the approval from the Board of Directors, and are not available for dividend distribution to the shareholders. |
| (b) | Currency translation reserve                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|     | The reserve comprises all foreign exchange differences arising from the translation of the financial statements of foreign operations.                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| (c) | Merger reserve                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|     | The merger reserve of the Company represents the difference between the nominal value of the shares of the subsidiaries acquired in the Hengda Reorganization (Note 1) over the nominal value of the shares of the Company issued in exchange thereof.                                                                                                                                                                                                                                                                                                                    |
| (d) | Share-based payment reserve                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|     | After the successful consummation of the reverse recapitalization,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 Mr. Wong Kung Tok, the former sole shareholder of Success Winner, allotted a total of 1,521,528 the Company’s ordinary                                                                                                                                                                                                                                                                                                                                                                                                                                                    
 shares (pre-reverse stock split) to two financial advisors for their financial advisory services related to the recapitalization activities.                                                                                                                                                                                                                                                                                                                                                                                                                              
 The shared based payment reserve represents the fair value of these allotted shares measured based on the average market