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

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 20
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 in our markets;

● changes in power
transmission capacity constraints or inefficiencies;

● volatile weather
conditions, particularly unusually hot or mild summers or unusually cold or warm winters in our market areas;

● an economic downturn
which could negatively affect demand for power;

● changes in the supply
of commodities utilized as fuel sources for power generation, including but not limited to coal, natural gas and fuel oil;

● technological shifts
resulting in changes in the demand for power or in patterns of power usage, including the potential development of demand-side management
tools, expansion and technological advancements in power storage capability and the development of new fuels or new technologies for the
production or storage of power;

● federal and state
power, market and environmental regulation and legislation, including mandating a renewable portfolio standards or creating financial
incentives, each resulting in new renewable energy generation capacity creating oversupply; and

● changes in capacity
prices and capacity markets.

These factors may cause our
operating results of the energy supply business to fluctuate in the future.

If China’s inflation increases or the prices of energy or raw materials increase, we may not be able to pass the resulting increased costs to our customers and this may adversely affect our profitability or cause us to suffer operating losses.

Economic growth in China has,
in the past, been accompanied by periods of high inflation. In the past, the Chinese government has implemented various policies from
time to time to control inflation. For example, the Chinese government has periodically introduced measures in certain sectors to avoid
overheating of the economy, including tighter bank lending policies, increases in bank interest rates, and measures to curb inflation,
which has resulted in a decrease in the rate of inflation. An increase in inflation could cause our costs for energy, labor costs, raw
materials and other operating costs to increase, which would adversely affect our financial condition and results of operations.

Extensive competition in power generation industry could adversely affect our performance.

The power generation industry
is characterized by intense competition, and we will encounter competition from utilities, industrial companies, marketing and trading
companies and other independent power producers. This competition has put pressure on power utilities to lower their costs, including
the cost of purchased power, and increasing competition in the supply of power in the future could increase this pressure. In addition,
construction during the last decade has created excess power supply and higher reserve margins in the power trading markets, putting downward
pressure on prices.

Other companies we are going to
compete with may have greater liquidity