Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 21

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 3
Chunk 21
---
) the majority of the issuer’s business activities are carried out in mainland China, or its main place(s) of
business are located in mainland China, or the majority of its senior management team in charge of its business operations and management
are PRC citizens or have their usual place(s) of residence located in mainland China. Where a PRC domestic company is seeking an indirect
overseas offering and listing in an overseas market, the issuer shall designate a major domestic operating entity responsible for all
filing procedures with the CSRC. If a domestic company fails to complete the required filing procedures or conceals any material fact
or falsifies any major content in its filing documents, such domestic company may be subject to administrative penalties, such as an order
to rectify, warnings and fines, and its controlling shareholders, actual controllers, the person directly in charge and other directly
liable persons may also be subject to administrative penalties, such as warnings and fines.

These statements and
regulatory actions are new, and it is highly uncertain how soon the legislative or administrative regulation-making bodies will
respond and what existing or new laws or regulations or detailed implementations and interpretations will be modified or
promulgated, if any. It is also highly uncertain what the potential impact such modified or new laws and regulations will have on
the daily business operations of our Operating Subsidiaries, their respective abilities to accept foreign investments and the
listing of our Ordinary Shares on a U. S. or other foreign exchange. There remains significant uncertainty in the interpretation and
enforcement of relevant PRC cybersecurity laws and regulations. If any of our Operating Subsidiaries is deemed to be an
“ Operator” required to file for cybersecurity review before listing in the United States or if the Measures for
Cybersecurity Review (2021) or the PRC Personal Information Protection Law becomes applicable to our Operating Subsidiaries, the
business operations of our Operating Subsidiaries and the listing of our Ordinary Shares in the United States could be subject to
the CAC’s cybersecurity review in the future. If it is determined that we should have filed with the CSRC pursuant to the
Trial Measures, we could be subject to penalties and/or could be required to obtain approval from the CSRC of our overseas listing
or to delist our securities. If our Operating Subsidiaries become subject to the CAC or CSRC review, we cannot assure you that our
Operating Subsidiaries will be able to comply with the regulatory requirements