Antelope Enterprise reports 1H EPS (96c) vs. ($3.38) last year

Reports 1H revenue $43.4M vs. $44.6M last year. Will Zhang, Chairman and CEO of Antelope Enterprise, commented, “The revenue for the livestreaming ecommerce business segment came in at $43.4 million for the first six months of 2024, modestly lower than the $44.6 million in revenue recorded for the six months of 2023. This slight decline was due to loss of a few major clients and a change in business strategy to secure a larger number of mid-tier clients to help to mitigate the risk of retaining major clients. Our majority-owned Kylin Cloud subsidiary had engagements with more than 70 clients in the first half of 2024 represents an increase of nearly 20 clients compared to the same period in 2023. Kylin Cloud provides turnkey livestreaming marketing and broadcasting services to consumer brand companies by matching consumer brand products with the appropriate hosts and influencers. We believe that there is a tremendous market opportunity ahead for livestreaming ecommerce and believe that Kylin Cloud has the resources, infrastructure and team culture to achieve sustained growth in this B2C ecosystem. In an important strategic development for the Company, we recently announced that we are planning to enter the energy field in the third quarter of 2024, and that we are going to launch this business in Texas to meet the rapidly growing needs of the computing power industry. We believe that our new positioning in the energy supply sector is extremely timely to meet the high expected demand for energy due to the growth of these sectors.