Antelope Enterprise Holdings aims to launch energy supply business in Q3

The company said, “We own a majority position of a livestreaming ecommerce business, Hainan Kylin Cloud Services Technology, and aim to launch an energy supply business in the third quarter of 2024. Kylin Cloud’s SaaS+ systems platform strategically matches hosts and influencers to consumer brand products which results in increased sales for these companies. In the last few years, livestreaming ecommerce has comprised an ever-increasing percentage of China’s ecommerce sales which we expect to continue in the years ahead, spurred by a consumer ecosystem that includes a young demographic and their high usage rate of mobile devices. We believe that Kylin Cloud is unique in the livestreaming space since it utilizes advanced analytics that matches hosts and influencers to consumer brand products which facilitates unique content for higher conversion rates as compared to traditional ecommerce. In the current period, the business strategy of the livestreaming business was modified to focus on securing a larger number of mid-tier clients to mitigate the risk associated with an over-concentration of major clients. Since some of these new clients are still in the beginning stages of collaboration and their business volume has just started to grow, it will take time for the new mid-tier clients to develop and increase their sales volume. In the first half of 2024, the livestreaming business had business engagements with more than 70 clients, which represented an increase of nearly 20 clients compared to the same period in 2023. In an important strategic development for the Company, we recently announced plans to enter the energy field through the production of electricity using natural gas generators in Texas. This electricity would then be transmitted directly to rapidly growing computing power sectors who require high amounts of energy. Compared to conventional methods, this model eliminates intermediary steps like transmission to the power grid and processing by public utilities, which could result in lower energy losses and higher efficiency. Given the strong market demand of computing power industries, the Company believes it has a runway for significant growth in the near future. This business outlook reflects the Company’s current and preliminary views and is based on the information currently available to us, which are subject to change, and is subject to risks and uncertainties, as well as risks and uncertainties identified in the Company’s public filings.”