Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 54

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 54
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 SAFE with the
proof that such dividends have been subjected to all applicable tax withholding. A Chinese subsidiary can only distribute dividends out
of its accumulated profits, which means that any accumulated losses must be more than offset by its profits in other years, including
the current year.

| 29 |

The cash transfers within the organization during the years ended December
31, 2022, 2023 and 2024 were as follows:

For the year 2022

| Company                                         
 (Wire transfer from)                            |     | Company(Wire transfer to)                         |     | Amount (RMB) |            |     | Equivalent to amount 
 (USD)                |           |     | Purpose                                   |     | Asset Type |
| Antelope Enterprise (HK) Holdings Limited       |     | Antelope Holdings (Chengdu) Co., Ltd              |     |              | 12,759,820 |     |                      | 1,850,000 |     | Working capital loan to direct subsidiary |     | Cash       |
| Antelope Enterprise (HK) Holdings Limited       |     | Antelope Ruicheng Investment (Hainan) Co., Ltd    |     |              |  1,456,045 |     |                      |   406,153 |     | Working capital loan to direct subsidiary |     |            |
| Antelope Enterprise (HK) Holdings Limited       |     | Stand Best Creation Limited                       |     |              |     13,436 |     |                      |     1,948 |     | Loan payback                              |     | Cash       |
| Success Winner Limited                          |     | Antelope Enterprise (HK) Holdings Limited         |     |              | 14,587,578 |     |                      | 2,115,000 |     | Working capital loan to direct subsidiary |     | Cash       |
| Success Winner Limited                          |     | Antelope Enterprise  Holdings Limited             |     |              |  2,414,020 |     |                      |   350,000 |     | Loan payback                              |     | Cash       |
| Success Winner Limited                          |     | Vast Elite Limited                                |     |              |    555,840 |     |                      |    80,589 |     | Working capital loan to direct subsidiary |     | Cash       |
| Antelope Enterprise  Holdings Limited           |     | Success Winner Limited                            |     |              | 10,690,660 |     |                      | 1,