From GlobeNewswire: 2024-05-10 07:00:00

Antelope Enterprise Holdings Limited (NASDAQ: AEHL) reported strong financial results for the second half and fiscal year ended December 31, 2023. Revenue for 2023 was RMB 510.5 million, a 78.3% increase from the previous year. Gross profit increased 90.0% to RMB 53.1 million. Net loss improved to RMB 14.5 million, and registered hosts and influencers grew to 800,000.

CEO Will Zhang highlighted the success of their strategic plan in the livestreaming ecommerce sector in China. Revenue growth demonstrates their value proposition to bring products to consumers. Antelope Enterprise plans to expand into new markets, offering turnkey livestreaming marketing services. They are optimistic about long-term growth and value creation.

For the six months ended December 31, 2023, revenue was RMB 201.3 million, up 19.7% from the previous year. Gross profit was RMB 5.9 million, a decrease due to higher cost of sales. Selling and distribution expenses decreased, while administrative expenses increased. Net loss for the period was RMB 49.0 million, reflecting an increase from the same period in 2022.

Full year 2023 financial results showed revenue of RMB 510.5 million, a significant increase from 2022. Gross profit improved to RMB 53.1 million, with a gross profit margin of 10.4%. Selling expenses rose to RMB 52.4 million, and administrative expenses increased to RMB 89.5 million. Net loss for the year was RMB 14.5 million, compared to a net loss of RMB 53.6 million in 2022.



Read more at GlobeNewswire:: Antelope Enterprise Announces Second Half and Full Year