Antelope Enterprise believes livestreaming ecommerce business is sustainable

The company said, “The Company operates a livestreaming ecommerce business through its KylinCloud subsidiary. Kylin Cloud’s platform strategically matches appropriate hosts and influencers to the products of consumer brand companies which results in increased sales for consumer brand companies. For the second six months and the full year 2023, KylinCloud generated primarily all of the Company’s total revenue. The Company believes its livestreaming ecommerce business is sustainable since livestreaming can offer consumer brand companies a new distribution channel, a potentially large audience and creative content. In addition, it can offer shoppers better engagement, convenience, authenticity and greater information as compared to conventional shopping modes. Livestreaming ecommerce can also accelerate purchasing decisions and increase conversion rates as compared to conventional ecommerce. The Company recently announced the planning for the launch of its energy supply business to be operated via its wholly-owned subsidiary, AEHL US LLC. AEHL US has taken preliminary steps in developing this business including engaging a broker to source natural gas from natural gas providers in Texas and the procurement of electricity generators. AEHL US plans to supply power to a data center in Midland, Texas. The Company anticipates that its energy supply business will start operation in the third quarter of 2024. The Company also plans to generate revenue by securing hosting sites for cryptocurrency mining operators as it leverages anticipated cost-effective electricity costs.”