Business
Antelope Enterprise Announces First Quarter Unaudited Revenue of $20.3 Million, a 94% Year-Over-Year Increase
Growth Reflects Unique AEHL Livestreaming Ecommerce Model CHENGDU, China, June 1, 2023 /PRNewswire/ -- Antelope Enterprise Holdings Limited (NASDAQ Capital
About this update from Antelope Enterprise Holdings Limited
[{"type":"text","content":"Growth Reflects Unique AEHL Livestreaming Ecommerce Model \nCHENGDU, China, June 1, 2023 /PRNewswire/ -- Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) (\"Antelope Enterprise\", \"AEHL\" or the \"Company\"), which operates KylinCloud, a livestreaming ecommerce business in China with access to 300,000+ hosts and influencers, today announced unaudited revenue of RMB 138.9 million (US$ 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.\n\n \n \n \n \n \n \n\n \nMr. 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.\"\n\"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.\"\nNotes About The Unaudited Financial Results\nThe 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...