10.11.2022 | NDAQ:AEHL | press release

Jinjiang, China, November 10, 2022 /PRNewswire/ — Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) (“Antelope Enterprise” or the “Company”) engaged in management and business consulting, online social commerce, live streaming and ceramics manufactures tiles used in residential and commercial buildings China, announced today that its strategic plan to diversify into new technology sectors consisting primarily of SaaS+ technology and business services to mitigate the difficult market conditions of its ceramic tile segment is meeting with continued success. As announced on September 29, 2022for the first half of the past financial year June 30, 2022the company’s recorded revenue from $20.8 millionan increase of 169% over the same period in 2021. In addition, revenue is attributable to emerging technology segments, including Hainan Kylin Cloud Services Technology Co., Ltd (“Kylin cloud‘), its new subsidiary for the SaaS+ platform, accounted for 88% of the company’s total revenue.

As fiscal 2020 begins, Antelope Enterprise has implemented its strategic plan to target emerging technology sectors and hired a new generation of technology professionals to work for the company. Its new SaaS platform through its Kylin cloud The subsidiary includes (i) SaaS+ technology system services, (ii) service management, (iii) business management, including sale of software usage rights for digital data storage platforms and asset management systems, and (iv) online streaming platforms, including short videos, 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 business. Our new business model leverages our SaaS+ system platform to serve new consumer and business practices. These include live streaming, short video, social commerce, technical system services, business management and new streaming media. We are encouraged by the market opportunities presented by these new areas and are optimistic that major breakthroughs could follow from the recent deals.”

In the next few years, the company expects the social e-commerce and streaming media industry to adopt short videos and live broadcasts 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 offset the difficult business conditions of our legacy ceramic tile business, which has suffered from the continued market slowdown of China real estate industry. Antelope Enterprise plans to accelerate its business development in this area to benefit from the expected growth of the sector. Driven by the New Economy and new employment trends, both Kylin cloud is well positioned, the new SaaS+ platform businesses could mean that the company could enter a new phase of sustained growth as it becomes the new engine for the future growth of the company.

About Antelope Enterprise Holdings Limited

Antelope Enterprise Holdings Limited is engaged in business management, information systems consulting, SaaS (Software as a Service) and PaaS (Platform as a Service) system platforms, online social commerce and live streaming China. The company is also a manufacturer of ceramic tiles in China 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 Declaration

Certain statements in this press release are “forward-looking statements” within the meaning and protection 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 regarding our beliefs, plans, objectives, goals, expectations, expectations, beliefs, estimates, intentions and future performance and involve known and unknown risks, uncertainties and other factors that may be beyond our control and the related thereto could cause the Company’s actual results, performance, capital, assets or achievements to differ materially from any 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 which continue to exhibit solid long-term fundamentals, and our ability to bring additional ceramic tile production capacity online take forward as our business improves, our ceramic tile customers continue to adjust to our product price increases, our ability to sustain our average selling price increases and continue to grow volume in the coming quarters, and whether our increased marketing efforts will contribute to broader customer acceptance of the new price points; and our ability to continue to grow our business management, information systems consulting, and online social commerce and live streaming businesses. All statements other than statements of historical fact are statements that may be forward-looking statements. You can identify these forward-looking statements by our use of words such as “may”, “will”, “anticipate”, “assume”, “should”, “state”, “would”, “believe”, “consider”, “expect”, “estimate”, “continue”, “plan”, “indicate”, “project”, “could”, “intend”, “aim” and other similar future words and expressions.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement, including without limitation the risks and uncertainties described in our Annual Report on Form 20-F for the current year December 31, 2021 and elsewhere in our SEC reports and filings. Such reports are available upon request from the Company or the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We undertake no obligation and do not undertake to update, revise or revise any forward-looking statements after the date of this release or after the respective dates as of which such statements are otherwise made.

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SOURCE Antelope Enterprise Holdings Ltd.

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