AEHL On Track to Surpass Full-Year Revenue
Guidance & Achieve Profitability
CHENGDU,
China, Aug. 25, 2023 /PRNewswire/ -- Antelope
Enterprise Holdings Limited (NASDAQ Capital Market: AEHL)
("Antelope Enterprise", "AEHL" or the "Company"), the operator of
KylinCloud, a premier livestreaming e-commerce platform that
leverages a network of over 400,000 hosts and influencers across
China, today pre-announced its
revenue for the first six months of its fiscal year ended
June 30, 2023. The Company estimates
that it will achieve approximately $42.0
million in revenue for the first
half of 2023; this represents growth of 167.5% compared to $15.7
million in revenue that it recorded for the same period of
2022.
Antelope Enterprise's projected first half revenue represents
65.6% of the Company's full-year guidance of $64 million issued on May
25, 2023. Given the Company's expected strong performance in the first
half of the year, Antelope Enterprise believes that it will exceed
its full year revenue guidance.
In addition, Antelope Enterprise affirms its forecast to achieve
profitability for the full fiscal year 2023. The Company's believes
that its strong financial growth highlights the power of its
innovative business model that optimizes the use of social media
and livestreaming to uniquely engage China's vast online consumer marketplace.
Antelope Enterprise CEO Will
Zhang commented, "Our first half 2023 financial results
clearly validates the strength of our business model and the value
that we provide to both our consumer brand partners and
influencers. The projected 168% revenue growth over the first half
of fiscal 2022 serves as a powerful indicator of the effectiveness
of our livestreaming ecommerce platform, KylinCloud, in this
rapidly growing market."
CEO Will Zhang continued, "We not
only facilitate meaningful connections between consumer brands and
influencers, but also enhance profitability for our partners and
provide immense value to our consumers. Given our expected
impressive performance in the first half of the year, we are
confident that we will not only meet but exceed our annual revenue
guidance while achieving profitability for the full year 2023."
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 platform
in China with access 400,000+
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.
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 technology sectors continuing to
exhibit sound long-term fundamentals, and our ability to continue
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.