Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 103

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 5
Chunk 103
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 a net loss of HK$1.5 million for the year ended December 31, 2023 to a net loss of HK$15.5 million (US$2.0 million) for the
fiscal year ended December 31, 2024. The increase in the net loss during the year ended December 31, 2024 was mainly attributable to the
cumulative effect of the reasons set out above.

The net income decreased by HK$10.1
million from a net income of HK$8.6 million for the year ended December 31, 2022 to a net loss of HK$1.5 million (US$0.2 million) for
the fiscal year ended December 31, 2023. The decrease in the net income during the year ended December 31, 2023 was mainly attributable
to the cumulative effect of the reasons set out above.

Liquidity and Capital Resources

For the Fiscal Years Ended
December 31, 2024 and 2023

The Company financed its daily
operations and business development through cash generated from the operations of AIL, FIL and FPPF. As of December 31, 2024 and 2023,
its cash balance was HK$27.5 million (US$3.5 million) and HK$46.3 million, respectively.

The following table sets forth
a summary of its cash flows for the periods indicated:

                                                           For the years ended December 31,                                                                            
                                                           2022                                             2023                     2024                              
                                                           HK$’000                                          HK$’000                  HK$’000                           
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net cash provided by (used in) operating activities                                            5,695                    9,728                   (21,347      (2,748  
  Net cash used in investing activities                                                           (554                     (284                      (405         (52  
  Net cash provided by financing activities                                                      5,034                   23,299                     2,719         350  

  63  

Cash provided by operating activities:

For the fiscal year ended
December 31, 2024, net cash used in operating activities of HK$21.3 million (US$2.7 million) was primarily the result of the net
loss of HK$15.5 million (US$2.0 million) as adjusted for