Growth Reflects Unique AEHL Livestreaming Ecommerce
Model
CHENGDU,
China, June 1, 2023 /PRNewswire/ -- 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 300,000+ hosts and
influencers, today announced unaudited revenue of RMB 138.9 million (US$
20.3 million) for its first quarter ended March 31, 2023. This represents a 93.7% increase
from unaudited revenue of RMB 71.7
million (US$ 11.3 million) for
the Company's first quarter of fiscal 2022.
Mr. Will Zhang, Chief Executive
Officer of Antelope Enterprise, commented, "We are pleased to
announce that our livestreaming ecommerce business is performing
extremely well as we continue to expand our footprint in many
underrepresented regions of China.
Our strong top line number serves as verification of our business
model and the continued growth of the ecommerce livestreaming
sector."
"We look forward to increasing our online visibility as we
bridge livestreaming influencers with consumer brands which results
in high conversion rates and increased product sales. I am
confident that KylinCloud's unique approach will not only redefine
the ecommerce landscape but also deliver significant value to our
shareholders."
Notes About The Unaudited Financial Results
The financial results presented in this release are preliminary
and may change. This preliminary financial information includes
calculations or figures that have been prepared internally by
management. The Company's independent registered public accounting
firm has not audited nor reviewed, and does not express an opinion
with respect to, this data. There can be no assurance that the
Company's actual results for the periods presented herein will not
differ from the preliminary financial results presented herein, and
such changes could be material. These preliminary financial results
should not be viewed as a substitute for full financial statements
prepared in accordance with U.S. GAAP and are not necessarily
indicative of the results to be achieved for any future periods.
This preliminary financial information could be impacted by the
effects of the Company's financial closing procedures, final
adjustments, and other developments, including the ongoing audit of
the Company's consolidated financial statements.
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 business
in China with access to 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.revenue
Currency Convenience Translation
The Company's revenue information is stated in Renminbi ("RMB").
Translations of amounts from RMB into United States dollars ("US$") in this
press release are solely for the convenience of readers and
were calculated at the rate of US$1.00 = RMB
6.8420 for revenue for the first quarter of fiscal year
2023, and US$1.00 = RMB 6.3479 for revenue for the first quarter of
fiscal 2022. Such translations should not be construed as
representations that RMB amounts could have been,
or could be, converted, realized or settled
into US$ at these rates 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, 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.
