Antelope Enterprise Holdings Limited (NASDAQ: AEHL) shares withered Friday, as the company which operates KylinCloud, a livestreaming ecommerce business in China with access to 800,000+ hosts and influencers, today announced its financial results for the second half and fiscal year ended December 31, 2023.
Revenue was RMB 510.5 million (US$ 72.1 million), a 78.3% increase as compared to RMB 286.3 million (US$ 42.6 million) for fiscal year 2022. Net loss was RMB 14.5 million (US$ 2.0 million), as compared to a net loss of RMB 53.6 million (US$ 8.0 million) for fiscal 2022
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 of 2022. Net loss from continuing operations for the six months ended December 31, 2023 was RMB 49.0 million (US$ 6.8 million), as compared to RMB 6.1 million (US$ 0.9 million) for the same period of 2022.
CEO Will Zhang commented, “The 78% increase in revenue growth for the full year 2023 reflects the successful execution of our strategic plan to capitalize upon the high-growth livestreaming ecommerce sector in China. Our livestreaming ecommerce business increased its scale as we entered new geographic regions and engaged new product categories. We represent a value proposition for consumers as we help to bring great products right to their fingertips.”
AEHL shares lost 38 cents, or 20.5%, to $1.46.
