Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 211

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 211
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, increase share capital, obtain new borrowings or sell assets to reduce debt.

There were no changes in the Company’s overall approach to capital management during the report periods.

The capital structure of the Company consists of debts (which include borrowings, less cash and cash equivalents) and equity attributable to shareholders of the Company (comprising issued capital and reserves). The Company monitors capital on the basis of the debt to capital ratio, which is calculated as net debts divided by equity attributable to shareholders of the Company.

SCHEDULE OF CAPITAL STRUCTURE

|                                                                      |     |               2024 |        |   |     |    2023 |        |   |
|                                                                      |     | As of December 31, |        |   |     |         |        |   |
|                                                                      |     |               2024 |        |   |     |    2023 |        |   |
|                                                                      |     |            USD’000 |        |   |     | USD’000 |        |   |
| Interest-bearing bank borrowings                                     |     |                    |      — |   |     |         |      — |   |
| Note payable                                                         |     |                    |  5,187 |   |     |         |  2,111 |   |
| Amounts owed to related parties                                      |     |                    |    272 |   |     |         |     78 |   |
| Total debts                                                          |     |                    |  5,459 |   |     |         |  2,189 |   |
| Less: Cash and cash equivalents (excluding restricted bank balances) |     |                    | (1,047 | ) |     |         |   (538 | ) |
| Net debts                                                            |     |                    |  4,412 |   |     |         |  1,651 |   |
| Equity attributable to shareholders of the Company                   |     |                    | 25,553 |   |     |         | 13,985 |   |
| Gearing ratio                                                        |     |                    |     17 | % |     |         |     12 | % |

29. SUBSEQUENT EVENTS

The Company has evaluated all events that have occurred subsequent to December 31, 2024 through the date that the consolidated financial statements were issued. Management has concluded that the following material subsequent events required disclosure in the consolidated financial statements.

On February 13, 2025, the Company (“Borrower”) signed a