Business
Antelope Enterprise Holdings Ltd. Regains Compliance with NASDAQ Minimum Bid Price Requirement
CHENGDU, China, March 28, 2023 /PRNewswire/ -- Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) ("Antelope Enterprise" or the "Company"),
About this update from Antelope Enterprise Holdings Limited
[{"type":"text","content":"CHENGDU, China, March 28, 2023 /PRNewswire/ -- Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) (\"Antelope Enterprise\" or the \"Company\"), the majority owner and operator of KylinCloud, a leading livestreaming social ecommerce platform with 300,000+ anchors and influencers in China, announced today that on March 27, 2023, it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (\"NASDAQ\") confirming the Company has regained compliance with NASDAQ's minimum bid price requirement under Listing Rule 5550(a)(2). The Company regained compliance with NASDAQ's requirements when the closing bid price for the Company's Class A ordinary shares were at or above $1.00 for 10 consecutive business days and the matter is now closed.\n\n \n \n \n \n \n \n\n \n\"I am happy that our stock price remained above $1.00 to regain NASDAQ compliance by showing investors demonstrable achievements rather than resorting to a reverse stock split,\" said Mr. Will Zhang, CEO of Antelope Enterprise. \"In the three short months since I became the Company's CEO, we have successfully divested our legacy business, reducing our burn-rate and providing funding for future growth. We have also preannounced that revenues for KylinCloud grew at an impressive 360% rate in 2022. Maintaining our NASDAQ listing was another critically important accomplishment for our team as we look to create significant shareholder value in 2023 and beyond.\"\nAbout Antelope Enterprise Holdings Limited\nAntelope Enterprise Holdings Limited holds a 51% ownership position in Hainan Kylin Cloud Services Technology Co., Ltd (\"KylinCloud\"), which operates a leading livestreaming social ecommerce platform with 300,000+ anchors and influencers in China.\nFor 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 [email protected].\nSafe Harbor Statement\nCertain 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, ...