Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 51

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 3
Chunk 51
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,” as defined in the JOBS Act, and we may take advantage of certain exemptions from various requirements applicable to other
public companies that are not emerging growth companies including, most significantly, not being required to comply with the auditor attestation
requirements of Section 404 of the Sarbanes-Oxley Act for so long as we are an emerging growth company. As a result, if we elect not to
comply with such auditor attestation requirements, our investors may not have access to certain information they may deem important.

The JOBS Act also provides that
an emerging growth company does not need to comply with any new or revised financial accounting standards until such date that a private
company is otherwise required to comply with such new or revised accounting standards. In other words, an “emerging growth company”
can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected
to take advantage of the extended transition period, although we have early adopted certain new and revised accounting standards based
on transition guidance permitted under such standards. As a result of this election, our future financial statements may not be comparable
to other public companies that comply with the public company effective dates for these new or revised accounting standards.

Our Executive Directors, together, have substantial
influence over the Company. Their interests may not be aligned with the interests of our other shareholders, and they could prevent or
cause a change of control or other transactions.

LMIL, our controlling shareholder,
is beneficially owned by Mr. Huang Hongwu (60%), our Chairman, President, Executive Director and Chief Executive Officer, and Ms. Wang
Xuefei (40%), our CFO, Treasurer and Executive Director. Their combined direct ownership of 100.00% of LMIL results in their controlling
approximately 72.3% of our issued and outstanding Ordinary Shares. Accordingly, as our controlling shareholders, they could control the
outcome of any corporate transaction or other matter submitted to the shareholders for approval, including mergers, consolidations, the
election of directors and other significant corporate actions, including the power to prevent or cause a change in control. The interests
of our largest shareholders may differ from the interests of our other shareholders. Without the consent of our controlling shareholders,
we may be prevented from entering into transactions that could be beneficial to us or our other shareholders. The concentration in the
ownership of our shares may cause a material decline in the value of our shares. For more information regarding our principal shareholders
and their affiliated