Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 13

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 13
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 believe any particular data processing activities “affect
or may affect national security”. In addition, on November 14, 2021, the CAC promulgated the Regulations on the Administration of
Cyber Data Security (Draft for Comments) (the “Draft CAC Regulations”), and according to the Draft CAC Regulations, any data
processors shall, in accordance with relevant state provisions, apply for a cybersecurity review when carrying out, among other things,
“other data processing activities that affect or may affect national security”. However, neither the CAC Revised Measures
nor the Draft CAC Regulations provides for any further explanation or interpretation over what constitutes activities that “affect
or may affect national security”. Therefore, if any competent government authorities deem that our PRC subsidiaries’ data
processing activities may affect national security, we may be subject cybersecurity review, and in that scenario, failure to pass such
cybersecurity review and/or to comply with the data privacy and data security requirements raised during such cybersecurity review could
subject our PRC subsidiaries to penalties, damage its reputation and brand, and harm its business and results of operations.

In summary, we and our PRC subsidiaries are not required
to obtain permission or approval from the PRC authorities including CSRC or CAC for our PRC subsidiaries, nor have we or our PRC subsidiaries,
received any denial for our PRC subsidiaries’ operation. We are subject to the risks of uncertainty of any future actions of the
PRC government in this regard including the risk that we inadvertently conclude that the permission or approvals discussed here are not
required, that applicable laws, regulations or interpretations change such that we or any of our PRC subsidiaries are required to obtain
approvals in the future, or that the PRC government could disallow our holding company structure, which would likely result in a material
change in our operations, including our ability to continue our existing holding company structure, carry on our current business, accept
foreign investments, and continue to offer securities to our investors. These adverse actions could cause the value of our Class A ordinary
shares to significantly decline or become worthless. We may also be subject to penalties and sanctions imposed by the PRC regulatory agencies,
including the CSRC, if we fail to comply with such rules and regulations, which would likely adversely affect the ability of our securities
to be listed on the U.S. exchange, which would likely cause the value of our Class A ordinary shares to significantly decline or become
worthless.

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