Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 66

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 66
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 in China are required to set aside at least 10% of their respective
accumulated profits each year, if any, to fund certain reserve funds unless such reserve funds have reached 50% of their respective registered
capital. These reserves are not distributable as cash dividends.

Insurance

We have not purchased insurance
coverage for product liability or third party liability and are therefore not covered or compensated by insurance in respect of losses,
damages, claims and liabilities arising from or in connection with product liability or third party liability. In addition, we currently
do not maintain business interruption insurance. As a result, our business and prospects could be adversely affected in the event of such
problems in our operations and may suffer losses that could have a material adverse effect on our business, financial condition, results
of operations, or cash flows.

| 37 |

| C. | Organizational Structure |

The following chart illustrates
Antelope Enterprises’ organizational structure as of December 31, 2024:

Corporate Structure and Background

Our previous principal PRC-based
operating subsidiary, Hengda, was established on September 30, 1993 under the laws of PRC. All of the equity interests in Hengda are 100%
owned by Stand Best. Hengda is a wholly foreign-owned enterprise in China.

Hengdali was established on May
4, 2008 under the laws of PRC. All of the equity interests in Hengdali are 100% owned by Hengda.

Stand Best was established on
January 17, 2008 under the laws of Hong Kong. Stand Best acquired the entire shareholdings of Hengda on April 1, 2008 for consideration
of RMB 58,980,000. As a result of this acquisition, Hengda became the wholly owned subsidiary of Stand Best.

Success Winner was established
on May 29, 2009 under the laws of British Virgin Islands with Mr. Wong Kung Tok as its sole shareholder and sole director.

On June 30, 2009, pursuant to
the capitalization agreement dated June 30, 2009, Success Winner was issued the 9,999 shares allotted by Stand Best as per the capitalization
exercise of a shareholder’s loan of HK$67.9 million (RMB 58.9 million). On the same date, the shareholder of Stand Best, Mr. Wong
Kung Tok transferred all his shareholdings in Stand Best to Success Winner