Antelope Enterprise Holdings, which operates the Kylin Cloud livestreaming e-commerce business in China, reported unaudited results for the six months ended June 30, 2025. Total revenues fell 5.7% to $41.0 million from $43.5 million a year earlier, mainly due to centralizing traffic acquisition at the Anhui Kylin entity and stopping DOU+ advertising activities after industry-wide policy changes in the PRC.
Despite lower revenue, profitability improved. Net loss narrowed to $3.6 million from $6.5 million, and loss per share improved to $1.03 from $4.84, helped by lower selling, administrative and other expenses. Gross profit declined to $1.8 million from $3.5 million as cost of goods sold remained high.
The balance sheet showed modest strengthening. As of June 30, 2025, cash increased to $1.8 million from $1.1 million at December 31, 2024. Total liabilities dropped to $8.9 million from $11.8 million, driven by lower notes payable and unearned revenue, while total stockholders’ equity rose to $27.1 million from $26.2 million. Management emphasized Kylin Cloud’s positioning to benefit from ongoing growth in digital purchasing and livestreaming e-commerce.
Antelope Enterprise Holdings Limited changes its fiscal year end from December 31 to September 30 and files a Form 20‑F transition report covering the nine months from January 1, 2025 to September 30, 2025, including audited consolidated financial statements.
The British Virgin Islands holding company operates mainly through subsidiaries in China and the U.S., focusing on livestreaming ecommerce and planning an energy supply business using natural gas power generation. It outlines complex legal and operational risks tied to PRC regulation, cybersecurity and data laws, HFCA/PCAOB audit oversight, foreign exchange controls, and recent PRC advertising-policy changes that hurt its DOU+ business.
The report also details dependence on key management, competition, technology change, potential divestiture impacts, and extensive risks related to its Class A ordinary shares, including volatility, controlled-company status, possible PFIC treatment, and limitations on dividends.
Antelope Enterprise Holdings Limited reports that it received a delinquency notice from Nasdaq because it has not yet filed its Form 6-K interim balance sheet and income statement for its fiscal half year ended June 30, 2025. This means the company is currently not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of required financial reports with the SEC.
The company has 60 calendar days from the January 12, 2026 notice to submit a plan to regain compliance. If Nasdaq accepts this plan, it may grant up to 180 calendar days from the interim report’s original due date, until June 29, 2026, for the filing to be completed. The company intends to submit the compliance plan and file the 2025 interim report within these timeframes.
Nasdaq’s letter does not immediately affect the listing of Antelope Enterprise’s Class A ordinary shares, which will continue trading on the Nasdaq Capital Market under the symbol AEHL. However, if the company does not regain compliance with the reporting rule, its Class A ordinary shares could ultimately be delisted from Nasdaq.
Antelope Enterprise Holdings Ltd. (AEHL) filed a Form 6-K reporting board changes effective 5 Aug 2025.
- Resignation: Director Huashu Yuan stepped down from the Board, Audit Committee, and as Chair of the Compensation and Nominating Committees. The filing states there was no disagreement with the company.
- Appointment: Cong Zhang was elected by the remaining directors to fill the vacancy. Zhang is Vice President-Business at Sichuan Jindouyun Law Firm and has prior leadership roles in environmental technology and business consulting. He holds a bachelor’s degree in Engineering Management.
- Committee re-assignment: Board Chair Ishak Han takes over as Chair of both the Compensation and Nominating Committees. Audit Committee membership for the new director is not specified.
No financial performance data, transactions, or strategic updates were included in this report.