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Antelope Enterprise Announces Second Half and Full Year 2023 Financial Results

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Antelope Enterprise Holdings (NASDAQ: AEHL) reported a 78% revenue growth in 2023, reaching RMB 510.5 million. The company's livestreaming ecommerce platform saw significant expansion with a strong focus on influencer partnerships, resulting in a gross profit of RMB 53.1 million. Despite a net loss, the company remains optimistic about its long-term growth prospects and plans to enter new markets.

Positive
  • Recorded 78% revenue growth in 2023, totaling RMB 510.5 million.

  • Increased gross profit by 90% to RMB 53.1 million in 2023.

  • Expanded livestreaming ecommerce platform to 800,000 hosts and influencers.

  • Successfully executed strategic plan to capitalize on the high-growth livestreaming ecommerce sector in China.

Negative
  • Experienced a net loss of RMB 14.5 million in 2023.

  • Gross profit margin decreased to 2.9% due to increased cost of sales.

  • Administrative expenses rose significantly by RMB 67.7 million in 2023.

AEHL Records 78% Revenue Growth in 2nd Year of Operating its Livestreaming Ecommerce Business

NEW YORK, May 10, 2024 (GLOBE NEWSWIRE) -- Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) (“Antelope Enterprise”, “AEHL” or the “Company”), which operates KylinCloud, a livestreaming ecommerce business in China with access to 800,000+ hosts and influencers, today announced its financial results for the second half and fiscal year ended December 31, 2023.

Fiscal Year 2023 Summary

  • Revenue was RMB 510.5 million (US$ 72.1 million), a 78.3% increase as compared to RMB 286.3 million (US$ 42.6 million) for fiscal year 2022.
  • Gross profit was RMB 53.1 million (US$ 7.5 million), 90.0% increase as compared to RMB 27.9 million (US$ 4.1 million) for fiscal 2022.
  • Net loss was RMB 14.5 million (US$ 2.0 million), as compared to a net loss of RMB 53.6 million (US$ 8.0 million) for fiscal 2022. The net loss included a gain on the sale of its ceramic tile business of RMB 73.8 million (US$ 10.4 million).
  • The registered hosts and influencers on the livestreaming ecommerce platform increased from approximately 300,000 in 2023 to 800,000 in 2024.

Will Zhang, Chief Executive Officer of Antelope Enterprise, commented, “The 78% increase in revenue growth for the full year 2023 reflects the successful execution of our strategic plan to capitalize upon the high-growth livestreaming ecommerce sector in China. Our livestreaming ecommerce business increased its scale as we entered new geographic regions and engaged new product categories. We represent a value proposition for consumers as we help to bring great products right to their fingertips.”

“As a first mover in this key sales channel, we aim to provide turnkey livestreaming marketing and broadcasting services to consumer brand companies by matching company products’ characteristics with hosts and influencers. We are excited to continue our journey as we enter new markets and adapt our business model for these new regions. We plan to build upon our momentum to drive impactful sales in these new markets.”

“We have a tremendous market opportunity of a global scale right ahead of us and believe that we have the financial resources, infrastructure and the strong team culture to achieve long-term growth. We have built an innovative and leading-edge technology platform that is transformative in terms of the B2C ecosystem. I am genuinely excited about our unique business model and execution capabilities, and I am confident that we will create value for all of our stakeholders,” concluded CEO Will Zhang.

Six Months Results Ended December 31, 2023

Revenue for the six months ended December 31, 2023 was RMB 201.3 million (US$ 27.5 million), a 19.7% increase from RMB 168.1 million (US$ 24.1 million) for the same period of 2022. The increase in revenue was due to revenue generated from KylinCloud, the Company’s livestreaming ecommerce business, which constituted 99% and 96% of second half 2023 and second half 2022 revenue, respectively.

Gross profit for the six months ended December 31, 2023 was RMB 5.9 million (US$ 0.7 million), as compared to RMB 26.0 million (US$ 3.7 million) for the same period of 2022. The decrease in gross profit was due to a 37.5% increase in the cost of sales due to the rapid growth of the Company’s livestreaming ecommerce business. For the second half of 2023, our gross profit margin decreased to 2.9% as compared to a gross profit margin of 15.5% for the second half of 2022.

Other income for the six months ended December 31, 2023 was RMB 0.9 million (US$ 0.1 million), as compared to RMB 1.3 million (US$ 0.2 million) for the comparable period of 2022. Other income primarily consists of interest income, currency exchange gains and government grants.

Selling and distribution expenses for the six months ended December 31, 2023 were RMB 3.2 million (US$ 0.3 million), as compared to RMB 14.5 million (US$ 2.1 million) for the comparable period of 2022. The decrease in selling and distribution expenses was primarily due to a decrease in commission expenses and advertising and promotions expenses as compared to the comparable period of 2022.

Administrative expenses for the six months ended December 31, 2023 were RMB 50.3 million (US$ 7.0 million), as compared to RMB 21.6 million (US$ 3.1 million) for the same period of 2022. The increase in administrative expenses was mainly due to period-over-period increases of (i) RMB 11.9 million in professional fees, (ii) RMB 9.8 million in compensation fees, (iii) RMB 1.7 million in promotion expenses, (iv) RMB 1.3 million increase in R&D expenses, as well as other additional expenses.

Net loss from continuing operations for the six months ended December 31, 2023 was RMB 49.0 million (US$ 6.8 million), as compared to RMB 6.1 million (US$ 0.9 million) for the same period of 2022. The increase in the Company’s total net loss from continuing operations was mainly due to the increase in the cost of sales and administrative expenses that occurred in the second half of 2023 as compared to the same period of 2022.

Loss per basic share and fully diluted share from continuing operations for the six months ended December 31, 2023 were RMB 15.66 (US$ 2.52), as compared to a loss per basic and fully diluted share of RMB 7.30 (US$ 1.10) for the same period of 2022.

Note About Six Months Results

The financial results for the six months ended December 31, 2023 presented in this release are unaudited. It includes calculations or figures that have been prepared internally by Management. The Company's independent registered public accounting firm has not reviewed or audited, and does not express an opinion with respect to the six months results. There can be no assurance that the Company’s actual results for the periods presented herein do not differ from the six months financial results presented herein, and such changes could be material. These financial results should not be viewed as a substitute for full financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and are not necessarily indicative of the results to be achieved for any future periods. The six months financial information could be impacted by the effects of the Company’s financial closing procedures, final adjustments, and other developments.

Full Year 2023 Financial Results

Revenue for the year ended December 31, 2023 was RMB 510.5 million (US$ 72.1 million), as compared to 286.3 million (US$ 42.6 million) for the year ended December 31, 2022. Gross profit was RMB 53.1 million (US$ 7.5 million), as compared to RMB 27.9 million (US$ 4.1 million) for the same period of 2022. The gross profit margin was 10.4%, as compared to a gross loss margin of 9.7% for the same period of 2022. Other income was RMB 3.7 million (US$ 0.5 million), as compared to RMB 3.0 million (US$ 0.4 million) for the same period of 2022. Selling expenses were RMB 52.4 million (US$ 7.4 million), as compared to RMB 16.4 million (US$ 2.4 million) for the same period of 2022. Administrative expenses were RMB 89.5 million (US$ 12.6 million), as compared to RMB 22.8 million (US$ 3.4 million) for the same period of 2022. Bad debt reversal was nil, as compared to bad debt reversal of RMB 2.8 million (US$ 0.4 million) for the same period of 2022. For the full year 2023, loss from continuing operations was RMB 86.9 million (US$ 12.3 million) in 2023, as compared to loss from continuing operations of RMB 5.7 million (US$ 0.8 million) in 2022. Net income from discontinued operations attributable to the gain on disposal of discontinued operations for the year ended December 31, 2023 was RMB 73.8 million (US$ 10.4 million), as compared to a loss from discontinued operations of RMB 48.0 million (US$ 7.1 million) for the same period of 2022. Total net loss for the Company for the year ended December 31, 2023 was RMB 14.5 million (US$ 2.0 million), as compared to a net loss of RMB 53.6 million (US$ 8.0 million) for the same period of 2022. Loss per share from continuing operations on a basic and fully diluted basis were RMB 39.10 (US$ 5.52) for the year ended December 31, 2023, as compared to basic and fully diluted loss per share of RMB 11.90 (US$ 0.18) for the same period of 2022. Earnings per share from discontinued operations on a basic and fully diluted basis were RMB 32.64 (US$ 4.61) and RMB 27.98 (US$ 3.95), respectively, for the year ended December 31, 2023, as compared to basic and fully diluted loss per share of RMB 57.30 (US$ 8.51) for the same period of 2022. (Note: On September 18, 2023, the Company effected a one-for-ten reverse split of its issued and outstanding Class A ordinary shares. The consolidated statements of financial position as of December 31, 2023 and 2022, and consolidated statements of comprehensive loss for the years ended December 31, 2023, 2022 and 2021 were retroactively restated to reflect this reverse split).

Financial Condition

As of December 31, 2023, the Company had RMB 3.8 million (US$ 0.5 million) in cash and cash equivalents, a decrease of RMB $0.1 million (US$ 0.5 million) or 3.3% as compared to RMB 3.9 million (US$ 0.6 million) as of December 31, 2022. As of December 31, 2023, working capital (current assets minus current liabilities) was RMB 22.4 million (US$ 3.2 million) and the current ratio (current assets divided by current liabilities) was 2.9 times, as compared to working capital of RMB 27.8 million (US$ 4.0 million) and a current ratio of 5.6 times as of December 31, 2022. Stockholders’ equity as of December 31, 2023 was RMB 102.2 million (US$ 14.4 million), an increase of RMB 95.8 million (US$ 13.5 million) or 1,481.5% as compared to RMB 6.5 million (US$ 0.9 million) as of December 31, 2022.

Business Outlook

The Company operates a livestreaming ecommerce business through its KylinCloud subsidiary. Kylin Cloud’s platform strategically matches appropriate hosts and influencers to the products of consumer brand companies which results in increased sales for consumer brand companies. For the second six months and the full year 2023, KylinCloud generated primarily all of the Company’s total revenue.

The Company believes its livestreaming ecommerce business is sustainable since livestreaming can offer consumer brand companies a new distribution channel, a potentially large audience and creative content. In addition, it can offer shoppers better engagement, convenience, authenticity and greater information as compared to conventional shopping modes. Livestreaming ecommerce can also accelerate purchasing decisions and increase conversion rates as compared to conventional ecommerce.

The Company recently announced the planning for the launch of its energy supply business to be operated via its wholly-owned subsidiary, AEHL US LLC. AEHL US has taken preliminary steps in developing this business including engaging a broker to source natural gas from natural gas providers in Texas and the procurement of electricity generators. AEHL US plans to supply power to a data center in Midland, Texas. The Company anticipates that its energy supply business will start operation in the third quarter of 2024. The Company also plans to generate revenue by securing hosting sites for cryptocurrency mining operators as it leverages anticipated cost-effective electricity costs.

This business outlook reflects the Company’s current and preliminary views and is based on the information currently available to us, which are subject to change, and is subject to risks and uncertainties, as well as risks and uncertainties identified in the Company’s public filings.

Conference Call Information

We will host a conference call at 8:00 am ET on May 10, 2024. Listeners may access the call by dialing 1-844-695-5522 five to ten minutes prior to the scheduled conference call time, and international callers should dial 1-412-317-0698; all callers should ask to join the Antelope Enterprise Holdings Ltd. earnings conference call. A replay of the conference call will be available for 14 days starting from 11:00 am ET on May 10, 2024. To access the replay, dial 1-877-344-7529 and international callers should dial 1-412-317-0088. The replay access code is 9609413.

About Antelope Enterprise Holdings Limited

Antelope Enterprise Holdings Limited holds a 51% ownership position in Hainan Kylin Cloud Services Technology Co., Ltd (“Kylin Cloud”), which operates a livestreaming ecommerce business in China with access to 800,000+ hosts and influencers. The Company recently announced the launch of an energy supply business to be operated via its wholly-owned subsidiary, AEHL US LLC. For more information, please visit our website at https://www.aehltd.com/. To receive the Company's public announcements, please email investor@aehltd.com.

Currency Convenience Translation

The Company’s financial information is stated in Renminbi (“RMB”). Translations of amounts from RMB into United States dollars (“US$”) in this earnings release are solely for the convenience of the readers and were calculated at the rate of US$1.00 = RMB 7.0999 for balance sheet accounts at the balance sheet date, US$ 1.00 = RMB 7.0809 for the P&L accounts for the year ended December 31, 2023, and US$ 1.00 = RMB 7.2306 for the P&L accounts for the six months ended December 31, 2023. The exchange rate refers to the historical rate as set forth in the H.10 statistical release published by www.federalreserve.gov on December 31, 2023. Such translations should not be construed as representations that RMB amounts could have been, or could be, converted realized or settled into US$ at that rate on December 31, 2023 or any other rate.

Safe Harbor Statement

Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, without limitation, the continued stable macroeconomic environment in the PRC, the PRC real estate, construction and technology sectors continuing to exhibit sound long-term fundamentals, our ability to bring additional ceramic tile production capacity online going forward as our business improves, our ceramic tile customers continuing to adjust to our product price increases, our ability to sustain our average selling price increases and to continue to build volume in the quarters ahead, and whether our enhanced marketing efforts will help to produce wider customer acceptance of the new price points; and our ability to continue to grow our business management, information system consulting, and online social commerce and live streaming business. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

-- FINANCIAL TABLES –

ANTELOPE ENTERPRISE HOLDINGS., LTD AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
     
 As of
December 31,
2023
 As of
December 31,
2022

 USD '000
RMB'000
 RMB'000
        
ASSETS AND LIABILITIES       
NONCURRENT ASSETS       
Property and equipment, net161 1,146  1,006 
Intangible assets, net1 4  6 
Right-of-use assets, net- -  469 
Loan Receivable5,180 36,780  - 
Note Receivable6,949 49,340  - 
Total noncurrent assets12,292 87,270  1,481 
        
CURRENT ASSETS       
VAT receivables- -  142 
Other receivables and prepayments2,870 20,380  19,180 
Available-for-sale financial assets99 700  8,523 
Due from related parties1,316 9,344    
Restricted cash- -  2,069 
Cash and bank balances536 3,808  3,936 
Total current assets4,821 34,232  33,850 
        
Assets classified as held for sale- -  74,675 
        
TOTAL ASSETS17,113 121,502  110,006 
        
CURRENT LIABILITIES       
Trade payables-  -  3,079 
Accrued liabilities and other payables216 1,532  799 
Unearned revenue27 192  - 
Amounts owed to related parties78 553  1,291 
Note payable1,070 7,597  - 
Lease liabilities- -  328 
Taxes payable281 1,993  582 
Total current liabilities1,671 11,867  6,079 
        
NET CURRENTASSETS3,150 22.365  27,771 
        
NONCURRENT LIABILITIES       
Lease liabilities- -  157 
Note payable1,044 7,394  8,775 
Total noncurrent liabilities1,044 7,394  8,932 
        
Liabilities directly associated with assets classified as held for sale- -  88,530 
        
Total liabilities2,720 19,261  103,541 
        
NET ASSETS14,439 102,241  6,465 
        
EQUITY       
Reserves13,691 96,942  1,047 
Noncontrolling interest748 5,299  5,418 
        
TOTAL EQUITY 14,439 102,241  6,465 
        
        
        


ANTELOPE ENTERPRISE HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS


 Unaudited
 Six Months ended December 31,
 2023202320222022
 USD'000RMB'000USD'000RMB'000
     
Net sales27,466 201,296 24,087 168,101 
Cost of goods sold26,785 195,438 20,360 142,091 
     
Gross profit (loss)680 5,858 3,727 26,010 
     
Other income117 897 184 1,284 
Fair value unrealized gain of available-for sale financial asset- - 19 130 
Selling and distribution expenses(299)(3,198)(2,078)(14,504)
Administrative expenses(6,988)(50,332)(3,102)(21,645)
Bad debt reversal (expense)- - 394 2,751 
Finance costs(138)(975)(2)(11)
Other expenses(170)(1,204)(5)(38)
     
Income (loss) before taxation(6,796)(48,954)(863)(6,023)
Income tax expense11 81 (18)(126)
     
Net loss from continuing operations(6,807)(49,035)(881)(6,149)
     
Discontinued operations    
Gain on disposal of discontinued operations(230)- - - 
Loss for the period from discontinued operations4 - - - 
     
Net income (loss) for the period(7,033)(49,035)(3,116)(21,748)
     
Net income (loss) attributable to:    
Equity Holders of the Company(7,021)(48,953)(4,095)(28,582)
Non-controlling interest(12)(82)98 685 
     
Net income (loss) for the period(7,033)(49,035)(3,997)(27,897)
     
Loss per share    
Basic (RMB)    
-- from Continuing Operations(2.52)(15.66)(1.10)(7.30)
-- from Discontinued Operations(1.39)(12.24)(3.70)(26.60)
     
Diluted (RMB)    
-- from Continuing Operations(2.52)(15.66)(1.00)(7.30)
-- from Discontinued Operations(2.05)(8.53)(3.70)(26.00)
     
     
     


ANTELOPE ENTERPRISE HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS


 Years ended December 31,
 20232022
 USD'000RMB'000RMB'000
    
Net sales72,102 510,546 286,347 
    
Cost of goods sold64,609 457,493 258,431 
    
Gross profit7,492 53,053 27,916 
    
Other income526 3,728 2,966 
Fair value unrealized gain of unlisted financial assets- - 130 
Selling and distribution expenses(7,399)(52,392)(16,380)
Administrative expenses(12,576)(89,047)(22,757)
Bad debt reversal (expense)- - 2,751 
Finance costs(138)(975)(25)
Other expenses(170)(1,204)(42)
    
Income (loss) before taxation(12,264)(86,837)(5,441)
    
Income tax expense12 83 209 
    
Net income (loss) for the period from continuing operations(12,275)(86,920)(5,650)
    
Discontinued operations   
Gain on disposal of discontinued operations10,429 73,846 - 
Loss for the period from discontinued operations(196)(1,385)(47,994)
    
Net income (loss) for the period(2,042)(14,459)(53,644)
    
Net income (loss) attributable to :   
Equity holders of the Company(2,025)(14,340)(57,918)
Non-controlling interest(17)(119)4,274 
Net income (loss) for the period(2,042)(14,459)(53,644)
    
Net income (loss) attributable to the equity holders of the Company arise from:   
continuing operations(12,258)(86,801)(9,924)
discontinued operations10,233 72,461 (47,994)
    
Other comprehensive loss   
Exchange differences on translation of financial statements of foreign operations(260)(1,838)198 
    
Total comprehensive income (loss) for the period(2,302)(16,297)(53,446)
    
Total comprehensive income (loss) attributable to:   
Equity holders of the Company(2,285)(16,178)(57,720)
Non-controlling interest(17)(119)4,274 
Total comprehensive income (loss) for the period(2,302)(16,297)(53,446)
    
Total comprehensive loss attributable to the equity holders of the Company arise from:   
continuing operations(12,535)(88,758)(5,452)
discontinued operations10,233 72,461 (47,994)
    
Loss per share attributable to the equity holders of the Company   
Basic (RMB)   
-- from continuing operations(5.52)(39.10)(11.90)
-- from discontinued operations4.61 32.64 (57.30)
Diluted (RMB)   
-- from continuing operations(5.52)(39.10)(11.90)
-- from discontinued operations3.95 27.98 (57.30)
    
    


ANTELOPE ENTERPRISE HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
 
 Years ended December 31,
 20232022
 USD '000RMB'000RMB'000
    
CASH FLOWS FROM OPERATING ACTIVITIES: 
Income (loss) before taxation(1,835)(12,991)(5,441)
Adjustments for -    
Operating lease charge -  - 484 
Depreciation of property, plant and equipment51 361 255 
Fair value gain on unlisted financial assets- - (130)
Gain on disposal of subsidiaries(10,429)(73,846)- 
Loan forgiveness by related party(164)(1,160)- 
Loss on convertible note179 1,267 - 
Standstill fee (principal pump on long term loan)96 682 - 
Reversal of bad debt of trade receivables- - (2,751)
Share based compensation6,985 49,459 2,180 
Interest expense on lease liability- - 25 
Amortization of OID of convertible note63 446 15 
Operating cash flows before working capital changes(5,053)(35,782)(5,363)
Decrease in trade receivables- - 4,292 
Decrease (Increase) in other receivables and prepayments(172)(1,216)(898)
Increase in loan receivables(5,194)(36,780)- 
Increase (Decrease) in trade payables(435)(3,079)464 
Increase (Decrease) in unearned revenue27 192 (15,545)
Decrease in taxes payable228 1,614 (958)
Increase (Decrease) in accrued liabilities and other payables103 731 (2,100)
Cash used in operations(10,496)(74,230)(20,108)
Interest paid- - - 
Income tax paid(20)(144)(326)
Net cash generated from operating activities from discontinued operations1,994 14,118 4,982 
    
Net cash generated from (used in) operating activities(8,522)(60,346)(15,452)
    
CASH FLOWS FROM INVESTING ACTIVITIES: 
Acquisition of fixed assets(71)(500)(22)
Acquisition of intangible assets- - (6)
Decrease in notes receivable1,328 9,404 - 
Decrease in available-for-sale financial asset1,105 7,823 (8,393)
Decrease (Increase) in restricted cash292 2,069 (2,069)
Cash disposed as a result of disposal of subsidiaries(36)(256)- 
Net cash used in investing activities from discontinued operations- - - 
    
Net cash generated from (used in) investing activities2,618 18,540 (10,490)
    
CASH FLOWS FROM FINANCING ACTIVITIES: 
Payment for lease liabilities- - (358)
Insurance of share capital for equity financing8,322 58,929 5,724 
Warrants exercised- - - 
Capital contribution from noncontrolling interest- - 2,450 
Proceeds from promissory note1,003 7,100 8,759 
Due from related parties(1,320)(9,344) 
Advance from related parties60 423 - 
Net cash used in financing activities from discontinued operations(2,020)(14,303)(14,303)
    
Net cash generated from (used in) financing activities6,045 42,805 2,272 
   
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS141 999 (23,670)
CASH & EQUIVALENTS (INCLUDING CASH CLASSIFIED AS HELD FOR SALE OF RMB 306,000), BEGINNING OF PERIOD599 4,242 27,880 
EFFECT OF FOREIGN EXCHANGE RATE DIFFERENCES(202)(1,433)32 
    
CASH & EQUIVALENTS, END OF PERIOD538 3,808 4,242 
    
ANALYSIS OF BALANCES OF CASH AND CASH EQUIVALENTS:   
Cash and cash equivalents538 3,808 3,936 
Cash and cash equivalents included in assets classified as held for sale - 306 
 538 3,808 4,242 
    
    

The accompanying notes as included in the Company’s 20-F filed with the SEC are an integral part of these consolidated financial statements.

Contact Information:       
Antelope Enterprise Holdings Limited
Edmund Hen, Chief Financial Officer
Email: info@aehltd.com
 Precept Investor Relations LLC
David Rudnick, Account Manager
Email: david.rudnick@preceptir.com
Phone: +1 646-694-8538
   

Source: Antelope Enterprise Holdings, Ltd.


FAQ

What was the revenue growth percentage for AEHL in 2023?

Antelope Enterprise Holdings (AEHL) reported a 78% revenue growth in 2023.

How many hosts and influencers did AEHL have on its livestreaming ecommerce platform in 2024?

AEHL had access to 800,000+ hosts and influencers on its livestreaming ecommerce platform in 2024.

What was the net loss for AEHL in 2023?

AEHL reported a net loss of RMB 14.5 million in 2023.

What caused the decrease in gross profit margin for AEHL in 2023?

The decrease in gross profit margin to 2.9% was due to the increased cost of sales.

What are AEHL's plans for entering new markets?

AEHL plans to adapt its business model for new regions and drive impactful sales in those markets.

Antelope Enterprise Holdings Limited

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