Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 118

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 118
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 the tax
authorities may notify the frontier authorities to prevent the non-resident investor or its legal representative from leaving the PRC.

United States Federal Income Taxation

General

The following is a summary of
the material U.S. federal income tax consequences of the acquisition, ownership and disposition of Antelope Enterprises’ securities.

The discussion below of the U.S.
federal income tax consequences to “U.S. Holders” will apply to a beneficial owner of Antelope Enterprises’ securities
that is for U.S. federal income tax purposes:

| ● | an individual citizen or resident of the United States;                                                                                                                                                                                                                                                          |
| ● | a corporation (or other entity treated as a corporation) that is created or organized (or treated as created or organized) in or under the laws of the United States, any state thereof or the District of Columbia;                                                                                             |
| ● | an estate whose income is includible in gross income for U.S. federal income tax purposes regardless of its source; or                                                                                                                                                                                           |
| ● | a trust if (i) a U.S. court can exercise primary supervision over the trust’s administration and one or more U.S. persons are authorized to control all substantial decisions of the trust, or (ii) it has a valid election in effect under applicable U.S. Treasury regulations to be treated as a U.S. person. |

A beneficial owner of our securities
that is described above is referred to herein as a “U.S. Holder.” If a beneficial owner of Antelope Enterprises’ securities
is not described as a U.S. Holder and is not an entity treated as a partnership or other pass-through entity for U.S. federal income tax
purposes, such owner will be considered a “Non-U.S. Holder.” The material U.S. federal income tax consequences applicable
specifically to Non-U.S. Holders are described below under the heading “Non-U.S. Holders.”

This summary is based on the Internal
Revenue Code of 1986, as amended, or the “Code,” its legislative history, Treasury regulations promulgated thereunder, published
rulings and court decisions, all as currently in effect. These authorities are subject to change or differing interpretations, possibly
on a retroactive basis.

| 67 |

This discussion does not address
all aspects of U.S. federal income taxation that may be relevant to any particular holder of Antelope Enterprises’ securities based
on such holder’s individual circumstances. In particular, this discussion considers only holders that own