Half Year 2023 Antelope Enterprise Holdings Ltd Earnings Call
Good morning and welcome to the Antelope Enterprise Holdings first half of the 2023 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad.
After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then 1 on your telephone keypad. To withdraw your question, please press star, then 2.
Please note this event is being recorded. I would now like to turn the conference over to David Rudnick of Precept Investor Relations. Please go ahead.
Thank you, Drew. Good morning, ladies and gentlemen, and good evening to those of you who are joining us from China.
Welcome to the Antelope Enterprise Holdings first half of the 2023 earnings conference call. With us today are Antelope Enterprises Chairman and Chief Executive Officer, Mr. Will Zhang, and Chief Financial Officer, Mr. Edmund Henn. Before I turn the call over to Mr. Zhang, I would like to address four things that may be discussed on the call. Four looking statements involve risks and uncertainties and include, among others, those regarding revenue, operating expenses, other income and expense, taxes, and future business outlook.
Actual future performance, outcomes, and results may differ materially from those expressed in forward-link statements. The company claims the safe harbor protections for such forward-link statements as contemplated under the Private Assurance Litigation Reform Act of 1995. Please refer to the documents filed by the company with the FCC. Specifically, the most recent reports are forms 20F and 6K, which identify important risk factors that could cause actual results to differ from those contained in the forward-link statements. We assume no obligation to update any forward-link statements or information which speak as of their respective dates. And now, it's my pleasure to turn the call over to Antelope Enterprises Chairman and CEO , Mr. Will Xiong, Antelope Enterprises CFO , Mr. Edmond Henn. My communications colleague, Lynn Burstein, will be translating for CEO , Will Xiong. Mr. Xiong, you may proceed.
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Thank you, David. On behalf of the company, I would like to welcome everyone to our first half, 2023 earnings conference call.
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I am extremely proud of the achievements of our Killing Cloud team. As our first half revenue is up 172.5% as compared to the same period last year.
Our revenue for our live streaming e-commerce business came in at 44.2 million for the six months.
modestly higher than our top line pre-announcement. Further, if not for certain non-cash expenses, we would have recorded positive operating income for our live streaming e-commerce segment for the period.
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As a first mover in the live streaming e-commerce space in China, Keeling Cloud provides turnkey live streaming marketing and broadcasting services to consumer brand companies by matching consumer brand products with the appropriate hosts and influencers.
We believe that Keeling Cloud has the core competencies to increase its market share in the periods ahead. And what we believe is an evolutionary sales channel and as we continue to engage as a pure play in the sector.
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We believe that we have a tremendous market opportunity ahead of us and are confident that healing clouds unique approach will continue to redefine the e-commerce live streaming landscape. I am genuinely excited about our value proposition for our customers. And I'm confident that we will create value for our shareholders as well.
Liu Jianyu, I would like to ask Mr. Cai Wu to be in touch with you.
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With that, I would like to turn over the call to the company's chief financial officer, Mr. Edmund Hen, who will discuss the company's first half earnings results in more detail. Thank you.
Thank you Mr. Trump.
I will now move on to a more detailed discussion of our financial results for the six month ending June , 30th, 20th.
for the 20 to 23.
Thank you for the 6 months and 30th, 2023, for SRMB 209.3 million, for your dollar 44.6 million.
161.5 increase from our NB 100.
18.2 million or just dollar 18.3 million for the same period of 2002.
The increasing revenue was still to RMB $325.9 million or USD $44.2 million. In revenue generated from our live streaming e-commerce business.
172.5 increase from RMB 100, 12.3 million or your start of 17.3 million.
for the same period out to 2022.
Our live streaming e-commerce business on CPU 99% of first half of 2022.
Total revenue has come prior to 83% for the same period of 2022.
First profit for the six months and June 30, 2023, was RMB $4.47.2 million for your dollar, $6.8 million.
As compared to your RMB 1.9 million or US dollar, not 1.3 million for the same camera now, so that's in 22.
Increasing growth profit.
or still true, RMB 52 million or your $7.5 million in course profits.
Generated from our life streaming business.
One thousand five hundred and nine.
1.4% increase from RMB 3.1 million for US dollar, 1.5 million for the same period 2022.
For this first half of 2023, our growth profit margin was 17%.
for the live streaming e-commerce business as compared to growth profit margin of 2.7%.
for the first half of 2022.
Other income for the 6th month and June 30th, 2023 was RMB$2.8 million for USD $0.4 million.
as compared to RMB 1.7 million for US dollar, not 0.3 million.
for the same period of 2022.
For the first half of 2023, we had RMB of 0.5 million in interest income.
In term of RMB 1.2 million attributable to forgiveness of a loan by affiliates of shareholders of the company.
A government grant of RMB of 0.3 million and other income of RMB of 0.8 million.
Selling and distribution expenses for the 6th month and June 30th, 2022 will be $49.2 million for USD 7.1 million
as compared to RMB 1.9 million or US dollar 0.3 million for the same year 2022.
The increase in sales and distribution expenses was primarily due to an increase in
Shuffle expenses of RMB are $0.1 million, an increase in commission expenses of RMB of $2.6 million, and an increase in advertising and promotion expenses of RMB $44.6 million.
I'm going to trade TIF expenses for the 6th month and June 30th, 2023, for RMB 30.7M or USD 5.8M.
As compared to RMB 6.4 million or US dollar 1 million for the same period of 2022.
Total
Continuing Operation before TASIS for the 6th month and June 3rd year, 2023, for live streaming business for RMB73
thousand for the first half.
of 2020-23 as compared to an income from continuing operations before TASIS.
of RMB 7.4 million for US dollar 1.1 million for the first half of 2023.
Lost-pro basic share and fully downloaded the share from continuing operation.
for the 6th month and June 30, 2023.
for RMB 20 3.44 or USD 3.4 as compared to loss per basic and solid title.
share of RMB 5.14 and USD 0.79 for the same period of 2022.
Turning to our balance sheet.
As of June 30, 2023, we have a cash and bank balances of RMB 3.1 million or USD 0.4 million.
Compared with RMB 3.9 million or US dollar of up to 6 million as of December 31, 2022.
As of June 30, 2023, our total outstanding bang long among we are new.
And we had a note payable of RMB 9.3 million for USD 1.3 million.
S has been properly announced.
over the last two years.
at an corporate transformation to private.
towards two high growth technology areas which include
The acquisition of live streaming e-commerce business.
in December 2022.
Our Board of Directors unanimously agreed to give our legacy ceramic tiles building material to the system.
On December 30, 2022, we entered into an agreement to sell our legacy ceramic in exchange for a 5% unsecured commercial remote.
with a principal amount of USD 8.5 million USD.
We are not sure in four years.
The 5% and principal amount on the note is to be paid in four annual installments.
A special meeting of the company's shareholders was held on February 21, 2023.
We have to sharehold it after a little bit.
Thank you.
SHRED sites, followed by the
April 28, 2023, the transition closed.
Thank you, Abhishek Sallop.
We operate a live live streaming e-commerce business through our clean cloud subsidiary.
which comprises virtually all antilock enterprise building.
on going business operations.
The SAS plus system platform strategically matches the SAS approach appropriates hosts.
and use luscious to consume a brand product with yourself.
in the career styles of these companies.
for the 6th month and June 30, 2023.
Think cloud-generated 99% of companies' total revenue.
Then cloud provides a one-stop solution for consumers for the companies.
to utilize the growing sales channel of live streaming e-commerce.
since this site buttons
consumer engagement and can build brand loyalty through rich content and online interaction.
Review e-commerce logspin means.
Especially important since traditional e-commerce can be challenged in terms of usability for brands to stand out and build personal connections with consumers.
ThinkCloud's social media hosts and influencers build trust-based, functional, rich, increased brand awareness.
and which drives process cells and increased margins.
In the last few years, live streaming e-commerce has comprised an ever-increasing percentage of China's e-commerce sales, which we expect to continue in the years ahead.
to provide customer ecosystem.
They include a young democratic and their high usage rates of mobile devices.
We built a clean cloud.
is unique in the live streaming space.
since its utilization around analytics and metrics holds an influential to consumer-bound products, expressing unique content for higher conversion rates as compared to traditional e-commerce.
We believe that we will be able to capitalize upon this market opportunity in the period ahead.
and will grow at a rate that is higher than e-commerce.
live streaming session.
This is our look with last common needs to current and preliminary reviews.
and it's based on
information currency available to us.
which are subject to change and subject to risk and uncertainties, as well as risk and uncertainty identified in the communist public's fly-in.
At this point, we would like to open up the call to any questions pertaining.
to our first half-2023 financial results.
Agree. On To find out perhaps.
We will now begin the question and answer session.
To ask a question, you may press star, then 1.
on your telephone keypad.
If you are using a speakerphone, please pick up your handset before pressing the keys. If at any time your question has been addressed and you would like to withdraw your question, please press the button below.
please press star then 2.
At this time, we will pause momentarily to assemble our roster.
The first question comes from Howard Flinker with Flinker & Company. Please go ahead..
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I have one question. Duan, quarter end.
Nie me nie you, dou shao, gu piao, how many shares outstanding?
In the half year end right? Yes.
So we have about...
2.5 million, 2.5 million after this reverse split, recent reverse split. 2.5 exactly.
around the numbers. You may chat with the public following later today.
Okay, you'll file a 10-Q or a 20-F or a 6-F, I forget what it's called, is that correct? No, 6-K. Oh, 6-K. Okay. It sounds as if you're making progress and it's been a long fight.
And good for you.
Thank you.
demands is predetermined.
Thank you.
Thank you.
Again, if you have a question, please feel free to contact me.
please press star then 1.
This concludes our, oh excuse me, again if you have a question press star then one.
The next question comes from William.
Greg Zuski with Green Ridge Global. Please go ahead.
Hi, I was curious, do you look at a certain metric for revenue for influencers? You guys always post the number of influencers you have in your company profile in the press releases. And I was just curious if you look at any metrics for revenue, like average revenue that an influencer brings in or how do you view the value of each influencer?
Excuse me, may I ask your question, please?
One, what I understand is about, your question is about related to revenue. So, let's rephrase.
your questions for me. So that will make us easier to understand.
Yes, you disclose in all of your press releases the number of influencers you have. I was curious how you look at the value of each influencer, if it's revenue per influencer or how you guys do that.
Yeah, the influential gets actually
the people registering in our SAS system.
So the model of influencer, that means we have more potential to generate the future revenue.
That means more people are helping our platform.
is a live streaming business and more people will contribute to our live streaming in our platform.
Right. I'm asking, is there a certain metric you look at to see the value of each influencer?
So, you know as you went from 300,000 to 400,000
You know in the current press releases we expect that revenue to keep increasing at a relatively similar rate going forward as you bring influencers on.
Yes, because we still share a very small market share.
in this live streaming business.
more and more, this again, to ensure we join our platform. And so that.
and also the platform view.
The influencer will contribute to view in a significant amount to our version.
At this point, it is very difficult to calculate the...
the metrics between the influencer and the resume.
Alaaam
I think it's a...
the more influencers join our platform, we believe that.
The revenue we will also go up in a significant manner.
Okay, and you've had growth margin improvement.
Do you expect to see that going forward and is there kind of a number you're shooting forward to reach whether it's this year or in the next few years?
Yes, you are correct. We are starting the course module in the coming period and years.
Because as I mentioned, we are still in a very early stage in this live streaming area.
and we believe that there's a still a lot of room.
number one to grow in our course margin.
Okay, is there any...
You know, number you guys are targeting that you're aiming to reach for, or is it just...
you know, just low increases.
And at this moment, as I mentioned, we still have a worse late past early stage.
So it is very difficult for us to estimate the...
Mature cost margin in future, in the future growal.
I really believe that the current station does not leave.
We've set the whole picture for the business.
Okay, all right, great corner, thank you.
Thank you very much.