Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 39

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 39
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 be able to carry out such investigation or evidence collection directly in
the PRC under the PRC laws. The U.S. regulators may consider cross-border cooperation with securities regulatory authority of the PRC
by way of judicial assistance, diplomatic channels or regulatory cooperation mechanism established with the securities regulatory authority
of the PRC.

Fluctuations in exchange rates could adversely affect our business and the value of our shares.

The value of our shares will be
indirectly affected by the foreign exchange rate between U.S. dollars and the Renminbi and between those currencies and other currencies
in which our revenue may be denominated. Because all of our earnings and cash assets are denominated in Renminbi, fluctuations in the
exchange rate between the U.S. dollar and the Renminbi will affect the relative purchasing power of these proceeds, as well as our financial
results reported in U.S. dollar terms without giving effect to any underlying change in our business, financial condition or results of
operations. Fluctuations in the exchange rate will also affect the relative value of any dividend we issue that will be exchanged into
U.S. dollars and earnings from, and the value of, any U.S. dollar-denominated investments we make in the future. Since July 2005, the
Renminbi has not been pegged to the U.S. dollar. Although the People’s Bank of China regularly intervenes in the foreign exchange
market to prevent significant short-term fluctuations in the exchange rate, the Renminbi may appreciate or depreciate significantly in
value against the U.S. dollar in the medium to long term. Moreover, it is possible that in the future the Chinese authorities may lift
restrictions on fluctuations in the Renminbi exchange rate and lessen intervention in the foreign exchange market. Therefore, the RMB
exchange rate has become more flexible and the exchange rate regime more transparent and in line with changes in market supply and demand.
However, significant fluctuations in the RMB’s value against the U.S. dollar could occur. Very limited hedging transactions are
available in China to reduce our exposure to exchange rate fluctuations. To date, we have not entered into any hedging transactions in
an effort to reduce our exposure to foreign currency exchange risk. While we may enter into hedging transactions in the future, the availability
and effectiveness of these transactions may be limited, and we may not be able to successfully hedge our exposure at all. In addition,
our foreign currency exchange losses may be magnified by Chinese exchange