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Antelope Enterprise Holdings (NASDAQ: AEHL) received a deficiency letter from Nasdaq on June 23, 2022, as its stock closed below the $1.00 bid price requirement for 30 consecutive days. The company has until December 20, 2022, to regain compliance with Nasdaq's Bid Price Rule, with an option for a second 180-day compliance period. If it fails to comply, delisting may occur, but the company can appeal. Antelope may consider a reverse stock split as a possible corrective action to meet the listing requirements.
Antelope Enterprise Holdings Limited (NASDAQ: AEHL) reported financial results for the second half and full year ending December 31, 2021. Revenue rose by 16.0% to RMB 166.2 million (US$ 25.8 million), driven by new technology ventures contributing 38.3% of total revenue. Gross profit improved to RMB 73.8 million (US$ 11.5 million) from a loss of RMB 26.9 million. However, bad debt expenses surged to RMB 75.7 million (US$ 11.8 million). The company aims to pivot towards technology sectors amidst challenging real estate market conditions in China.
Antelope Enterprise Holdings Limited (NASDAQ: AEHL) reported a revenue of RMB 50.1 million (US$ 7.7 million) for the six months ended June 30, 2021, marking a 25.9% increase from RMB 39.8 million (US$ 5.6 million) in the same period of 2020. However, the company faced a gross loss of RMB 6.5 million (US$ 1.0 million) compared to a gross profit of RMB 0.9 million (US$ 0.1 million) in 2020, mainly due to strategic inventory sales at reduced prices. Net loss decreased to RMB 70.8 million (US$ 10.9 million), down from RMB 111.5 million (US$ 15.8 million) in 2020, aided by a reduction in bad debt expense.
Antelope Enterprise Holdings Limited (NASDAQ: AEHL) reported its financial results for fiscal year 2020. Revenue fell to RMB 183.0 million (US$ 26.5 million), down from RMB 327.6 million (US$ 47.4 million) in 2019. The company experienced a net loss of RMB 193.1 million (US$ 28.0 million), compared to a loss of RMB 9.5 million (US$ 1.4 million) in 2019. Key challenges included a 9.1% decrease in average selling prices and a bad debt expense of RMB 150.3 million (US$ 21.8 million). Despite these difficulties, Antelope aims to expand operations in Southeast Asia and innovate in building materials as market conditions improve.
China Ceramics Co., Ltd. is changing its name to Antelope Enterprise Holdings Limited, effective October 15, 2020. This rebranding reflects a strategic shift towards computer consulting and fintech software development, aiming to enhance its growth. The name change has been approved by shareholders during the February 2020 Annual Meeting. Antelope will trade under the new ticker symbol 'AEHL' on the Nasdaq. The company’s diverse portfolio includes ceramic tiles and management consulting services, with products sold under various established brands.
China Ceramics Co., Ltd. (NASDAQ: CCCL) reported a 77.6% decrease in revenue to RMB 39.8 million (US$ 5.6 million) for the six months ended June 30, 2020, compared to RMB 177.4 million (US$ 26.2 million) in the same period of 2019. The gross profit also significantly declined to RMB 0.9 million (US$ 0.1 million) from RMB 15.3 million (US$ 2.3 million), with a gross margin of 2.4%. The net loss was RMB 111.5 million (US$ 15.8 million), though improved from RMB 193.2 million (US$ 28.5 million) in 2019. Bad debt expenses decreased to RMB 101.8 million (US$ 14.4 million). The company anticipates recovery driven by pent-up demand in the housing market.
China Ceramics Co., Ltd. (NASDAQ: CCCL) will host a conference call on September 29, 2020, at 8:00 AM ET to discuss its financial results for the first half of 2020. The earnings report will be available on the company's Investor Relations page prior to the call. Participants can join by dialing specific numbers and using Conference ID 5293751. A replay of the call will be accessible for 14 days post-event. The company is known for manufacturing ceramic tiles utilized in residential and commercial buildings and operates various subsidiaries including those focused on business consulting and fintech solutions.
China Ceramics Co., Ltd. (NASDAQ: CCCL) announced that it has regained compliance with NASDAQ's minimum bid price requirements. Following a reverse stock split on September 3, 2020, the company's shares maintained a closing bid of $1.00 or more for 10 consecutive business days up to September 18, 2020. This achievement satisfies NASDAQ Listing Rule 5550(a)(2), ensuring continued listing on the exchange. China Ceramics is recognized for its ceramic tiles used in residential and commercial buildings, with products distributed through exclusive distributors.
China Ceramics Co., Ltd. (NASDAQ: CCCL) announced a one-for-three reverse stock split effective September 3, 2020, to comply with NASDAQ's minimum bid price requirement of $1.00 per share. This action reduces outstanding shares from approximately 9.2 million to 3.1 million. The reverse split aims to improve share price stability and maintain NASDAQ listing compliance. Failure to achieve the minimum bid price by September 21, 2020, may lead to delisting, adversely affecting shareholder value and liquidity.
China Ceramics Co., Ltd. (NASDAQ: CCCL) has announced the formation of its wholly-owned subsidiary, Antelope Holdings, which has entered a licensing contract with Chengdu Baishengtong Consulting. The contract is valued at RMB 6.0 million (approx. $0.9 million), with 40% payable within six months. The software aims to enhance the management of non-performing assets for asset management firms by enabling digital processing and communication among financial institutions, asset managers, and courts. This marks a significant expansion into the fintech sector for China Ceramics.
