Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 58

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 4
Chunk 58
---
ITEM 4. INFORMATION ON THE COMPANY

History of the Company

Fenbo Holdings Limited (the “ Company,”
“we” or “ FHL), is the holding company of our Operating Subsidiaries, Able Industries Limited (“ AIL”), Fenbo
Industries Limited (“ FIL”) and Fenbo Plastic Products Factory (Shenzhen) Ltd. (“ FPPF”). Through our Operating
Subsidiaries, we represent over 30 years of experience producing premium personal care electric appliances (principally electrical hair
styling products such as straighteners, curlers, trimmers, etc.) and toy products to overseas markets.

  34  

Our operating history began in
1993 when FIL was founded in Hong Kong by Mr. Li Kin Shing as a toy manufacturer and distributor. As the toy market deteriorated, he founded
AIL in 2005 in Hong Kong and shifted our operations to the manufacture and sale of personal care electric appliances. Our manufacturing
subsidiary, FPPF, located in Guangdong, PRC, was formed in the PRC in 2010 and is capable of producing over three million units per year.
We currently act as an original equipment manufacturer (“ OEM”) of certain personal care electric appliances.

Recent and Other Developments

Nasdaq Deficiency. On January 16, 2025, we received notification from Nasdaq that we were not in compliance with Nasdaq Listing Rules 5620(a) and 5810(c)(2)(G),
which require that Nasdaq-listed companies hold an annual meeting of shareholders within twelve months of their fiscal year end (the “ Annual
Meeting Requirement”), because we did not hold an annual meeting of shareholders within twelve months of our December 31, 2023 fiscal
year end. The Nasdaq Notification had no immediate effect on our Nasdaq listing. It stated that, in accordance with Nasdaq rules, we had
45 calendar days, or until March 3, 2025, to submit a plan to regain compliance with the Annual Meeting Requirement and, if Nasdaq accepted
our plan, it could grant an exception of up to 180 days from the fiscal year end, or until June 30, 2025, for us to regain compliance.

We held our 2023 annual general
meeting on April 24, 2025, and have regained compliance with the Nasdaq rules.

Change in Control. On
November 29, 2024, Luxury Max Investment Limited (“