Antelope Enterprise Announces Second Half and Full Year 2023 Financial Results

Financial Performance - For the fiscal year 2023, revenue reached RMB 510.5 million (US$72.1 million), marking a 78.3$ 42.6 million) in 2022 [2][8] - Gross profit for the same period was RMB 53.1 million (US$7.5 million), a 90.0$ 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$24.1 million) for the same period in 2022 [4][8] - KylinCloud's livestreaming ecommerce business accounted for 99$ 0.7 million), down from RMB 26.0 million (US$3.7 million) in the same period of 2022, primarily due to a 37.5$ 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]