Core Viewpoint - Antelope Enterprise Holdings Limited has made changes to its Board of Directors, appointing Ms. Ze Yang as a new director and chair of the audit committee, while Mr. Dian Zhang has resigned from the board and his position as chair of the audit committee without any disagreements with the company [1][2][3]. Company Overview - Antelope Enterprise Holdings Limited holds a 51% ownership position in Hainan Kylin Cloud Services Technology Co. Ltd, which operates a livestreaming e-commerce business in China, providing access to over 800,000 hosts and influencers [4]. Board Changes - Ms. Ze Yang has been appointed as a director and chair of the audit committee effective March 24, 2025. She is currently the Finance Director and Chief Operating Officer of Sichuan Yixiaobao Network Technology Co., Ltd, managing a team of over 50 people and developing growth strategies [1][3]. - Mr. Dian Zhang has resigned from the Board and as chair of the audit committee, with his resignation not resulting from any disagreements with the company [2]. Management Background - Ms. Yang has extensive experience, having previously served as Marketing Director at Top Guagua Technology Group Co., Ltd and as a manager at Chengdu Yidai Network Financial Information Service Co., Ltd. She holds an associate degree in computerized auditing from Sichuan Tianyi College [3].

Financial Performance - Net sales for the six months ended June 30, 2024, were USD 43,462,000, a decrease of 2.6% compared to USD 44,636,000 in the same period of 2023[4] - Gross profit decreased to USD 3,493,000 for the six months ended June 30, 2024, down 48.7% from USD 6,812,000 in 2023[4] - The net loss for the period from continuing operations was USD 6,527,000, compared to a net income of USD 4,992,000 in the same period of 2023[4] - The company reported a total comprehensive loss of USD 7,440,000 for the six months ended June 30, 2024, compared to a total comprehensive income of USD 4,394,000 in 2023[4] - The equity holders of the company experienced a net loss of USD 6,635,000 from continuing operations for the six months ended June 30, 2024[4] - Total revenues for the six months ended June 30, 2024, were $43,462,000, a decrease of 3.1% from $45,026,000 in the same period of 2023[26] - Livestreaming ecommerce revenue for the six months ended June 30, 2024, was $43,462,000, compared to $44,159,000 in 2023, reflecting a decline of 1.6%[31] - Loss from operations for the six months ended June 30, 2024, was $6,525,000, compared to a loss of $5,667,000 in 2023, indicating a worsening of 15.1%[31] - Net loss from continuing operations for the six months ended June 30, 2024, was $6,635,000, compared to a loss of $5,462,000 in 2023[39] Assets and Liabilities - Total assets increased to USD 28,164,000 as of June 30, 2024, up from USD 17,114,000 as of December 31, 2023, representing a growth of 64.5%[2] - Total liabilities increased to USD 10,130,000 as of June 30, 2024, from USD 2,713,000 as of December 31, 2023, marking a rise of 272.5%[2] - Cash and bank balances rose to USD 2,322,000 as of June 30, 2024, compared to USD 536,000 at the end of 2023, an increase of 333.3%[2] - Trade payables amounted to $639,000 as of June 30, 2024, all expected to be settled within one year[43] - Accrued liabilities increased significantly from $216,000 as of December 31, 2023, to $1,077,000 as of June 30, 2024, primarily due to accrued interest and other expenses[44] Shareholder Activities - The company issued new shares for equity financing amounting to USD 4,297,000 during the period[8] - The Company completed a one-for-ten reverse stock split on September 18, 2023, to enhance its stock price[11] - The weighted average number of ordinary shares outstanding used in computing basic earnings per share for the six months ended June 30, 2024, was 6,923,985, significantly higher than 1,614,471 in 2023 due to a one-for-ten reverse split[39] - The Company issued 3,238,067 new shares for equity financing, increasing the total outstanding shares to 11,647,303 as of June 30, 2024[62] - The Company sold 913,875 common shares at a price of $3.48, yielding gross proceeds of $3,180,285 before expenses[65] - In a subsequent offering, the Company sold 1,666,667 common shares at $0.60, generating approximately $1,000,000 in gross proceeds[67] - The Company entered into a securities purchase agreement to sell 1,300,000 Class A ordinary shares at $1.00, with gross proceeds of approximately $1.30 million[70] - The Company issued 1,625,000 ordinary shares at $0.80, resulting in gross proceeds of $1.3 million[72] Other Income and Expenses - The company reported interest income of $213,000 for the six months ended June 30, 2024, up from $77,000 in 2023, representing a growth of 176.6%[26] - Total other income for the six months ended June 30, 2024, was $651,000, a decrease of 47.3% from $1,234,000 in 2023[26] - The Company recorded an interest expense of $314,840 on the unsecured promissory note issued in January 2024, with an outstanding principal balance of $4,630,000 as of June 30, 2024[59] - The outstanding principal balance of the unsecured promissory note from December 2022 was $494,180 as of June 30, 2024, down from $1,069,999 at the end of 2023[52] - The Company amortized $9,543 of original issue discount (OID) on the unsecured promissory note issued in July 2023, with an outstanding principal balance of $1,120,535 as of June 30, 2024[54] Discontinued Operations - The company reported a net loss of $10,459,000 from discontinued operations for the same period[92] - Gain on disposal of discontinued operations amounted to $10,659,000[92] - Net cash generated from operating activities from discontinued operations was $2,038,000[92] - The Company completed the sale of Stand Best Creation Limited for a total of USD $8,500,000, with an annual interest rate of 5% on the note receivable[42] - As of June 30, 2024, the total balance of note receivable was $5,490,000, with interest income recorded at $213,000 for the six months ended June 30, 2024[42] Future Plans and Use of Proceeds - The Company plans to use net proceeds from the February 2024 offering for business expansion in the U.S. and general corporate purposes[70] - The net proceeds from the offering will be used for general working capital purposes[93]

Financial Data and Key Metrics Changes - Revenue for the first half of 2024 was $43.5 million, a decrease of $1.1 million or 2.6% from $44.6 million in the same period of 2023 [9] - Gross profit for the first half of 2024 was $3.5 million, a decrease of $3.3 million or 46.7% compared to $6.8 million for the same period in 2023 [10] - Loss from continuing operations before taxation for the first half of 2024 was $6.5 million, an increase of $1.1 million or 19.3% from a loss of $5.5 million in the same period of 2023 [11] - Cash and cash equivalents as of June 30, 2024, were $2.3 million, an increase of $1.8 million or 333.2% compared to $0.6 million as of December 31, 2023 [13] - Shareholders' equity as of June 30, 2024, was $18 million, an increase of $3.6 million or 25.2% from $14.4 million as of December 31, 2023 [13] Business Line Data and Key Metrics Changes - Revenue from the livestreaming e-commerce business segment was $43.4 million for the first half of 2024, slightly lower than $44.6 million in the same period of 2023 [6] - The number of clients engaged in the livestreaming business increased to over 70 in the first half of 2024, up by nearly 20 clients compared to the same period in 2023 [6][9] Company Strategy and Development Direction - The company plans to enter the energy field in the third quarter of 2024, launching this business in Texas to meet the growing needs of the computing power industry [7][16] - The new energy supply business aims to provide a cost-effective and stable electricity supply to data centers, which are expected to see a significant increase in energy demand [19][20] Management Comments on Operating Environment and Future Outlook - Management highlighted that electricity demand in the U.S. is projected to reach record highs in 2024 and 2025, driven by large-scale computing facilities [19] - The company believes it is entering the energy market at the right time to provide a stable and cost-effective electricity supply to data centers [19] Other Important Information - The company modified its business strategy to focus on securing a larger number of mid-tier clients to mitigate risks associated with over-concentration on major clients [15] - The livestreaming e-commerce sector is expected to continue growing in China, supported by a young demographic and high mobile device usage [14] Q&A Session Summary Question: How did the company decide to enter the energy supply field? - Management noted that the U.S. Energy Information Administration projects a significant increase in electricity demand, particularly from data centers, which are energy-intensive [19] Question: Can you provide details about the business model for energy supply? - The company is located near natural gas production sites, minimizing transportation costs and ensuring a cost-effective supply of electricity to customers [20]

As filed with the Securities and Exchange Commission on August 2, 2024 Registration No. 333-279733 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 AMENDMENT NO. 3 FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ANTELOPE ENTERPRISE HOLDINGS LTD. Room 1802, Block D, Zhonghai International Center, Hi-Tech Zone, Chengdu, Sichuan Province, PRC Telephone: +86 (28) 8532 4355 (Address, including zip code, and telephone number, including area code, of Registrant's principal exe ...

As filed with the Securities and Exchange Commission on July 17, 2024 Registration No. 333-279733 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 AMENDMENT NO. 2 FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ANTELOPE ENTERPRISE HOLDINGS LTD. (Exact name of registrant as specified in its charter) British Virgin Islands 4899 Not Applicable (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Emp ...

As filed with the Securities and Exchange Commission on June 28, 2024 Registration No. 333-279733 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 AMENDMENT NO. 1 FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ANTELOPE ENTERPRISE HOLDINGS LTD. (Exact name of registrant as specified in its charter) British Virgin Islands 4899 Not Applicable (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Emp ...

As filed with the Securities and Exchange Commission on May 24, 2024 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ANTELOPE ENTERPRISE HOLDINGS LTD. (Exact name of registrant as specified in its charter) British Virgin Islands 4899 Not Applicable (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Nu ...

Financial Performance - For the year ended December 31, 2023, the company generated net sales of RMB 510.5 million, a significant increase of 78.4% compared to RMB 286.3 million in 2022[225]. - The livestreaming ecommerce business accounted for 98.1% of total revenue, generating RMB 503.4 million in 2023, up 83.8% from RMB 273.7 million in 2022[219][229]. - The company reported a net loss of RMB 14.5 million for the year, an improvement from a net loss of RMB 53.6 million in 2022[225]. - Revenue from livestreaming ecommerce increased to RMB 503.4 million (US$ 71.1 million) in 2023, up 84% from RMB 273.7 million (US$ 40.7 million) in 2022, driven by a growing client base of over 70 clients[235]. - Net loss attributable to equity holders decreased to RMB 14.3 million (US$ 2.0 million) in 2023 from RMB 57.9 million (US$ 8.1 million) in 2022, largely due to a gain on disposal of discontinued operations[247]. Expenses and Costs - The cost of goods sold increased to RMB 457.5 million in 2023, representing a 77.0% increase from RMB 258.4 million in 2022[225]. - Administrative expenses surged to RMB 89.0 million in 2023, compared to RMB 22.8 million in 2022, reflecting increased operational costs[225]. - Selling and distribution expenses surged to RMB 52.4 million (US$ 7.4 million) in 2023, an increase of 220% from RMB 16.4 million (US$ 2.4 million) in 2022, primarily due to higher advertising and promotion costs[242]. - Administrative expenses rose to RMB 89.0 million (US$ 12.6 million) in 2023, up 291% from RMB 22.8 million (US$ 3.4 million) in 2022, driven by increased stock compensation and professional fees[243]. - The company incurred a loss before taxation of RMB 86.8 million in 2023, compared to a loss of RMB 5.4 million in 2022[225]. Revenue Declines - Revenue from tile products decreased significantly to RMB 2.7 million (US$ 0.4 million) in 2023, down 92.8% from RMB 37.7 million (US$ 5.6 million) in 2022, due to the slowdown in the real estate sector[236]. - Revenue from business management and consulting services fell to RMB 7.1 million (US$ 1.0 million) in 2023, a decrease of 44% from RMB 12.7 million (US$ 1.9 million) in 2022, attributed to intense market competition[237]. Business Strategy and Development - The company expects to further develop its SaaS platform to enhance value-added services for livestreaming ecommerce customers[219]. - The company aims to leverage its network in the e-commerce industry to provide cost-efficient promotion services through Douyin's DOU+ advertising option[218]. - The company plans to enhance liquidity through potential equity sales or credit facilities, which may dilute existing shareholders or impose operational restrictions[270]. Cash Flow and Financing - For the year ended December 31, 2023, net cash used in operating activities was RMB 60.3 million (US$ 8.5 million), a significant increase from a cash inflow of RMB 15.5 million in 2022[277]. - Net cash generated from financing activities was RMB 42.8 million (US$ 6.0 million) for 2023, a substantial increase from RMB 2.3 million in 2022, primarily due to increased share capital issuance[281]. - The Company sold 1,625,000 ordinary shares at $0.80 per share, generating gross proceeds of $1.3 million for the expansion of its social ecommerce business[271]. - A subsequent offering of 1,234,568 ordinary shares at $0.81 per share raised approximately $1 million, also aimed at expanding the social ecommerce business[272]. - On March 30, 2023, the Company sold 5,681,820 Class A ordinary shares at $0.88 per share, resulting in gross proceeds of approximately $5 million for general corporate purposes[273]. Asset Management and Liabilities - As of December 31, 2023, the Company had total outstanding bank loan amounts of nil, indicating a strong liquidity position[284]. - The total outstanding loans for the continuing operations amounted to RMB nil as of December 31, 2023, indicating no exposure to material risks due to changes in market interest rates[467]. - The average trade payables' turnover for the livestreaming ecommerce segment was 1 day in 2023, down from 3 days in 2022[286]. Research and Development - Research and development efforts are focused on the innovative Kylin-Cloud service platform, with costs expensed as incurred unless they meet specific recognition criteria[298]. - Internally generated intangible assets are recognized at the sum of expenditures incurred once recognition criteria are met, otherwise, development expenditures are expensed[299]. Financial Reporting and Compliance - Financial assets are classified and measured based on their business model and cash flow characteristics, with specific criteria for amortized cost and fair value through profit or loss[307]. - Expected credit losses (ECL) are recognized based on the credit risk of financial assets, with a general approach for measurement based on the increase in credit risk since initial recognition[311]. - Impairment losses are assessed at each reporting period, with specific criteria for determining when a financial asset is considered impaired[319]. - The company derecognizes financial assets when contractual rights to cash flows expire or when it transfers the asset and substantially all risks and rewards of ownership[324]. Currency and Market Risks - The company's operations are primarily conducted in the PRC, with nearly all monetary assets and liabilities denominated in RMB, minimizing exposure to foreign currency risk[297]. - Limited hedging transactions are available in China to mitigate exposure to exchange rate fluctuations, and the company currently has no intention to enter into such transactions[470]. - The People's Bank of China intervened in the foreign exchange market to maintain an exchange rate of approximately 8.3 RMB per US dollar until July 2005, after which modest appreciation was allowed[469].

Financial Performance - For the fiscal year 2023, revenue reached RMB 510.5 million (US$ 72.1 million), marking a 78.3% increase from RMB 286.3 million (US$ 42.6 million) in 2022 [2][8] - Gross profit for the same period was RMB 53.1 million (US$ 7.5 million), a 90.0% increase compared to RMB 27.9 million (US$ 4.1 million) in 2022 [2][8] - The net loss for fiscal year 2023 was RMB 14.5 million (US$ 2.0 million), significantly reduced from a net loss of RMB 53.6 million (US$ 8.0 million) in 2022, which included a gain from the sale of its ceramic tile business of RMB 73.8 million (US$ 10.4 million) [2][8] Operational Highlights - The number of registered hosts and influencers on the KylinCloud platform increased from approximately 300,000 in 2023 to over 800,000 in 2024 [2] - Revenue for the six months ended December 31, 2023, was RMB 201.3 million (US$ 27.5 million), a 19.7% increase from RMB 168.1 million (US$ 24.1 million) for the same period in 2022 [4][8] - KylinCloud's livestreaming ecommerce business accounted for 99% of the total revenue in the second half of 2023 [4] Cost and Expenses - Gross profit for the six months ended December 31, 2023, was RMB 5.9 million (US$ 0.7 million), down from RMB 26.0 million (US$ 3.7 million) in the same period of 2022, primarily due to a 37.5% increase in the cost of sales [4][5] - Administrative expenses for the six months ended December 31, 2023, rose to RMB 50.3 million (US$ 7.0 million) from RMB 21.6 million (US$ 3.1 million) in the same period of 2022 [5][6] Business Outlook - The company plans to launch an energy supply business through its subsidiary, AEHL US LLC, with operations expected to start in the third quarter of 2024 [12] - The livestreaming ecommerce business is viewed as sustainable, providing a new distribution channel and enhancing consumer engagement compared to traditional shopping methods [11]

Company Overview - Antelope Enterprise Holdings Limited operates KylinCloud, a livestreaming ecommerce business in China, with access to over 800,000 hosts and influencers [1][3] - The company holds a 51% ownership position in Hainan Kylin Cloud Services Technology Co., Ltd [3] Financial Results Announcement - The company will conduct a conference call on May 10, 2024, at 8:00 am Eastern Time to discuss its second half and full year financial results for the fiscal year ended December 31, 2023 [1] - The earnings press release will be available prior to the conference call [1] New Business Initiative - Antelope Enterprise has recently announced the launch of an energy supply business to be operated via its wholly-owned subsidiary, AEHL US LLC [3]