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.
![logo (PRNewsfoto/Antelope Enterprise Holdings Ltd.) logo (PRNewsfoto/Antelope Enterprise Holdings Ltd.)](https://mma.prnewswire.com/media/1977667/Black_Logo.jpg)
"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."
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 leading livestreaming social
ecommerce platform with 300,000+ anchors and influencers
in China.
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 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, the continued stable macroeconomic
environment in the PRC, the PRC real estate, construction and
technology sectors continuing to exhibit sound long-term
fundamentals, our ability to bring additional ceramic tile
production capacity online going forward as our business improves,
our ceramic tile customers continuing to adjust to our product
price increases, our ability to sustain our average selling price
increases and to continue to build volume in the quarters ahead,
and whether our enhanced marketing efforts will help to produce
wider customer acceptance of the new price points; and our ability
to continue to grow our business management, information system
consulting, and online social commerce and live streaming 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, 2021 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.