Antelope Enterprise Holdings Ltd. Q3 FY2022 earnings call

• The company successfully pivoted from the legacy ceramic tile building materials business, which was divested on April 28, 2023.
• KylinCloud livestreaming business generated 96% of the company's total revenue in the second half of 2022. Full-year 2022 top line revenue for the livestreaming e-commerce business was $40.7 million, modestly ahead of pre-announcement.
• The registered investors and hosts on the KylinCloud platform increased 8 times to 316,696 in 2022 from 39,624 in 2021.
• KylinCloud provides turnkey livestreaming marketing and broadcasting services, matching companies' brand characteristics and products with hosts and influencers to drive sales and profitability.
• The company has financial resources, operating infrastructure, and a vibrant team culture to pursue long-term growth in the livestreaming e-commerce sector.

The company has pivoted to a livestreaming e-commerce business. For the 6 months ended December 31, 2022, revenue was RMB 168.1 million (USD 24.1 million), a 164.3% increase from the same period in 2021. The KylinCloud livestreaming business contributed RMB 161.4 million (USD 23.1 million) to revenue in the second half of 2022, which was 96% of the total company revenue. Gross profit for the 6 months ended December 31, 2022 was RMB 26 million (USD 3.7 million), with the livestreaming e-commerce business contributing RMB 25 million (USD 3.6 million). Net loss from continuing operations for the 6 months ended December 31, 2022 was RMB 6.1 million (USD 0.9 million), but the livestreaming e-commerce business had a net income of RMB 0.7 million (USD 0.1 million) in the second half of 2022 compared to a net loss of RMB 1.4 million (USD 0.2 million) in the second half of 2021.

• Edmund Hen stated there was significant growth in the first few months of 2023 and expects promising revenue for the year.
• The company plans to announce its second half reporting in September, which will include first half results.
• The company believes it can achieve breakeven by the end of 2023.

• Forward-looking statements involve risks and uncertainties regarding revenue, operating expenses, other income and expense, taxes, and future business outlook.
• Actual results may differ materially from those in forward-looking statements due to risk factors identified in the company's SEC filings.

Q: How is the first half of 2023 tracking?

A: We have significant growth in the first few months of 2023 and believe we will have very promising revenue for the year.

Q: At some point in time, will you guys start to issue guidance?

A: We will announce our results in the second half reporting and year-end reporting, likely in September for the second half reporting, and will let the market know good news when we have it.

Q: How big of a market is this for your KylinCloud?

A: It's a very big market, but we don't have official statistics, and we have a very small market share currently with huge room to grow.

Q: Are there other public companies that we should compare you to?

A: There's no strict comparison, but there is a Hong Kong-listed company with ticker 2291 that has some similarity to our business.

Q: When do you expect to reach profitability?

A: We believe we can break even by the end of 2023.