CHENGDU,
China, May 25, 2023 /PRNewswire/ -- Antelope
Enterprise Holdings Limited (NASDAQ Capital Market: AEHL)
("Antelope Enterprise", "AEHL" or the "Company"), which
operates KylinCloud, a livestreaming ecommerce platform with access
to 300,000+ hosts and influencers in China, today announced
its financial guidance for its fiscal year ended December 31, 2023. Antelope Enterprise is
forecasting $64.0 million in revenue
for the full fiscal year 2023, which represents 50% growth from the
$42.6 in revenue that it recorded for
the full fiscal year 2022.
In addition, Antelope Enterprise expects to achieve
profitability in fiscal year 2023 as the unique advantages in its
business model leverages social media and livestreaming to address
China's huge online consumer
marketplace in a more creative and effective way. Further, AEHL's
rationalization and utilization of big data that it maintains on
its platform of social influencers and brands lays a solid
foundation for its future growth.
Will Zhang, CEO of Antelope
Enterprise, commented, "KylinCloud's unique platform has not only
created a transformative space for brands and influencers to
connect and engage, but it has also proven to be a key driver for
increased profitability for our brand partners. By effectively
utilizing our platform, brands have reported an increase in their
gross margins of 5% to 7%, a testament to the effectiveness of
KylinCloud."
"Looking ahead, we believe that the continued growth of
livestreaming ecommerce, combined with our proven platform and
strategic initiatives, will drive our revenue and profitability in
2023 and beyond," CEO Zhang added.
The expected surge in revenue is largely attributable to the
high growth livestreaming ecommerce sector and the unique appeal of
KylinCloud's platform, which effectively connects consumer brands
with a vast network of hosts and influencers to drive product sales
and profitability.
Antelope Enterprise plans to continue to leverage its strategic
position as a pure play in the rapidly growing livestreaming
ecommerce sector and grow its robust influencer network. The
Company believes it will be able to deepen the penetration of
China's sales markets by targeting
demographics to consumer products which will continue to drive its
financial performance as livestreaming ecommerce continues to
become a core sales channel and an increasing proportion of online
shopping.
About Antelope Enterprise Holdings Limited
Antelope Enterprise Holdings Limited holds a 51% ownership
position in Hainan Kylin Cloud Services Technology Co., Ltd
("KylinCloud"), which operates a livestreaming ecommerce platform
in China with access 300,000+
hosts and influencers.
For more information, please visit our website
at http://www.aehl-kylin.com/, or follow the Company on
Twitter at https://twitter.com/aehl_ltd. To receive the
Company's public announcements, please
email investor@aehltd.com.
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 in this press release include, without
limitation, our ability to compete in the livestreaming ecommerce
industry, to maintain and grow our network of high-quality supplies
of hosts and influencers and our ability to implement new
strategies to grow our business management, information system
consulting, and livestreaming ecommerce 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, 2022 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.
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SOURCE Antelope Enterprise Holdings Ltd.
