Business
Antelope Enterprise Announces Select Preliminary Unaudited Financial Results for the Fiscal Year 2022: Revenue of $39.1 Million
Revenue from AEHL's New Livestreaming Social Ecommerce Business Increased 360% Year-over-Year CHENGDU, China, March 23, 2023 /PRNewswire/ -- Antelope
About this update from Antelope Enterprise Holdings Limited
[{"type":"text","content":"Revenue from AEHL's New Livestreaming Social Ecommerce Business Increased 360% Year-over-Year\nCHENGDU, China, March 23, 2023 /PRNewswire/ -- Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) (\"Antelope Enterprise\" or the \"Company\"), which operates its 51% subsidiary, KylinCloud, a leading livestreaming social ecommerce platform with 300,000+ anchors and influencers in China, today announced unaudited revenue results generated from KylinCloud for its fiscal year ended December 31, 2022 of approximately $39.1 million (RMB 270 million) compared to $8.5 million (RMB 58.5 million) in revenue generated from Kylin Cloud for fiscal year ended December 31, 2021. KylinCloud was only operational during November and December in 2021.\n\n \n \n \n \n \n \n\n \nThe unaudited year-over-year revenue growth was driven by KylinCloud's gross merchandise value (GMV), a measure of the value of products sold by social media influencers and anchors on the platform, grew to $329.3 million (RMB 2,216.1 million) in fiscal 2022 from $90.1 million (RMB 579.2 million) in fiscal 2021, an increase of 266%. The registered influencers and anchors on the KylinCloud platform also increased dramatically to 316,696 in fiscal 2022 from 39,624 in fiscal year 2021, an increase of 699%. \n\"I am extremely proud of the achievements of our team in 2022 and pleased with our top line results,\" said Mr. Will Zhang, CEO of Antelope Enterprise. \"KylinCloud growth is outpacing the industry growth rate in livestreaming social ecommerce as our platform is tapping into a previously unserved group of influencers that were considered too small to have an agency represent them. We hear so many great stories from our anchors about how the income from our platform positively changed their lives, and many can even afford to quit their jobs and become influencers full-time.\"\n\"In terms of our client servicing of brand companies, our platform is a more scalable and affordable way for them to sell their products than to hire a famous social media celebrity which generates a higher ROI on their ad budget. We look forward to updating our shareholders with more information when we announce our full year 2022 financial results in April,\" concluded CEO Will Zhang.\nNote About Preliminary Results\nThe financial results presented in this release are preliminary and may...