Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 32

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 3
Chunk 32
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 in Ukraine, as the conflict and governmental reactions are rapidly
developing and beyond our control. Moreover, the recent armed conflict between Israel and Hamas is highly unpredictable, and this
conflict could lead to further significant market and other disruptions, including significant volatility in commodity prices,
supply of energy resources, instability in financial markets, political and social instability and increases in cyberattacks and
espionage. Prolonged unrest, intensified military activities or more extensive sanctions impacting the affected regions could have a
material adverse effect on the global economy, and such effect could in turn have a material adverse effect on our business,
financial condition, results of operations and prospects.

In addition, recently there have
been shipping disruptions in the Red Sea and surrounding waterways due to attacks on marine vessels by the Houthi movement which controls
part of Yemen. These disruptions may impact our ability to distribute our products to our customers in a cost-effective and timely manner
and to meet our customer’s demands, all of which could have an adverse effect on our financial condition and results of operations.

Our Operating Subsidiaries rely on our management
team and employees in their business.

Our experienced executive
directors and senior management team are one of the key factors contributing to our Operating Subsidiaries’ success. Their
extensive experience and knowledge of the personal care electric appliance industry help formulate and implement business strategy
and foster growth of our Operating Subsidiaries’ business. Particularly, we rely on our Executive Director, Mr. Li Siu Lun
Allan, in the overall management, strategic planning and development and daily operation of our Operating Subsidiaries. The loss of
services of Mr. Li or of other senior management members without timely and suitable replacement may cause disruption or loss of
our Operating Subsidiaries’ business operations and prospects. Please refer to Item 6. “ Directors, Senior Management and
Key Employees” in this Annual Report for details about the experience and roles of our Executive Directors, Independent
Non-Executive Directors and senior management.

Aside from our key management,
our Operating Subsidiaries also rely on our employees for their daily operations. Our Operating Subsidiaries’ results of operations
and business performance may be materially and adversely affected if we cannot retain the services of our employees and recruit suitable
replacements in a timely manner.

Our Operating Subsidiaries derive a significant
portion of their revenue from international operations and are exposed to foreign exchange risk. Moreover, fluctuations
in exchange rates could have a