Antelope Enterprise Announces Select Preliminary Unaudited Financial Results for the Fiscal Year 2022: Revenue of $39.1 Million.

CHENGDU, China: Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) ("Antelope Enterprise" or the "Company"), which operates its 51% subsidiary, KylinCloud, a leading livestreaming social ecommerce platform with 300,000+ anchors and influencers in China, today announced unaudited revenue results generated from KylinCloud for its fiscal year ended December 31, 2022 of approximately $39.1 million (RMB 270 million) compared to $8.5 million (RMB 58.5 million) in revenue generated from Kylin Cloud for fiscal year ended December 31, 2021. KylinCloud was only operational during November and December in 2021.

The unaudited year-over-year revenue growth was driven by KylinCloud's gross merchandise value (GMV), a measure of the value of products sold by social media influencers and anchors on the platform, grew to $329.3 million (RMB 2,216.1 million) in fiscal 2022 from $90.1 million (RMB 579.2 million) in fiscal 2021, an increase of 266%. The registered influencers and anchors on the KylinCloud platform also increased dramatically to 316,696 in fiscal 2022 from 39,624 in fiscal year 2021, an increase of 699%.

"I am extremely proud of the...