JINJIANG, China, Nov. 10,
2022 /PRNewswire/ -- Antelope Enterprise Holdings
Limited (NASDAQ Capital Market: AEHL) ("Antelope Enterprise" or the
"Company"), which engages in management and business consulting,
and online social commerce and live streaming, and is a
manufacturer of ceramic tiles used in residential and commercial
buildings in China, today
announced that its strategic plan to diversify into new technology
sectors that predominantly consist of SaaS+ technology and business
services to mitigate the challenging market conditions of its
ceramic tile segment is meeting with continued success. As
announced on September 29, 2022, for
the first half of its fiscal year ended June
30, 2022, the Company's recorded revenue of $20.8 million, an increase of 169% over the same
period in 2021. In addition, revenue attributable to its new
technology segments including Hainan Kylin Cloud Services
Technology Co., Ltd ("Kylin Cloud"),
its new SaaS+ platform subsidiary, accounted for 88% of the
Company's total revenue.
Beginning in fiscal 2020, Antelope Enterprise enacted its
strategic plan to pivot towards new technology sectors and engaged
a new generation of technology professionals to work for the
Company. Its new SaaS platform through its Kylin Cloud subsidiary encompasses (i) SaaS+
technology system services, (ii) service management, (iii) business
management including sales of software usage rights for digital
data storage platforms and asset management systems, and (iv)
online streaming platforms including short video, live streaming
and e-commerce platform development and services.
Ms. Meishuang Huang, Chief Executive Officer of Antelope
Enterprise, commented, "We are very pleased with the growth and
momentum of our SaaS platform businesses. Our new business model
leverages our SaaS+ system platform to serve new consumer and
business practices. These encompass live streaming, short video,
social commerce, technical system services, enterprise management
and new streaming media. We are encouraged by the market
opportunities that these new areas represent and are optimistic
that following recent business wins, bigger breakthroughs could
follow."
Over the next few years, the Company expects that the social
e-commerce and streaming media industry of short video and live
broadcast in China will continue
to grow rapidly, and that China
will continue to be the largest market for this technology. The
strong growth and continued momentum of our new business model has
helped us to offset the difficult business conditions of our legacy
ceramic tile business that has suffered from the continued slowdown
in China's real estate industry.
Antelope Enterprise plans to accelerate its business development in
this space to capitalize upon the expected growth of the sector.
Driven by the new economy and new employment trends, both of which
Kylin Cloud is well positioned to
address, the new SaaS+ platform businesses could mean that the
Company could enter a new stage of sustainable growth as it becomes
the new driving force for the Company's future growth.
About Antelope Enterprise Holdings Limited
Antelope Enterprise Holdings Limited engages in business
management, information systems consulting, SaaS (software as a
service) and PaaS (platform as a service) systems
platforms, and online social commerce and live streaming in
China. The Company is also a
manufacturer of ceramic tiles in China which are used for exterior siding,
interior flooring, and design in residential and commercial
buildings, and sold under the "Hengda" or "HD" brand. For more information, please visit
http://www.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.