Company: AEHL
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-008020
Chunk: 38

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-05-01
Form: 20-F
Item: Item 5
Chunk 38
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.2 million for the year ended December 31, 2023, as compared to $ 6,000 for the year ended December 31, 2022, representing an increase of $ 164,000 or 2,733.3%. The increased other expenses were mainly due to a loss from conversion of note payable in 2023.
 

  48 
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Income (loss) before taxation. Loss before taxation was $ 12.3 million for the year ended December 31, 2023, as compared to $ 0.8 million for the year ended December 31, 2022, representing an increase of $ 11.5 million, or 1,415.9%. The increase in loss before taxation was mainly due to an increase in selling and distribution expense, increased administrative expenses, and a decrease in the reversal of the bad debt expense of our continued operations, which was partly offset by increased gross profit as described above. For the years ended December 31, 2023 and 2022, we had a loss before taxation of $ 0.2 million and $ 7.1 million from discontinued operations. In addition, we had a $ 10.6 million gain from disposal of our tile subsidiaries.
 
Income taxes. We incurred an income tax expense of $ 12,000 for the year ended December 31, 2023 compared to an income tax expense of $ 31,000 for the year ended December 31, 2022.
 
Net loss attributable to equity holders of the Company. Net loss attribute to equity holders of the Company was $ 2.0 million for the year ended December 31, 2023, as compared to a loss attributable to the Company’s shareholders of $ 8.6 million for the year ended December 31, 2022. The decrease in net loss attributable to shareholders in 2023 was attributable to the gain on disposal of discontinued operations of $ 10.4 million.
 
Net income (loss) attributed to non-controlling interest. Net loss attributed to non-controlling interest was $ 17,000 and net income of $ 0.6 million for the years ended December 31, 2023 and 2022. The non-controlling interest represents the 49% ownership of Hainan Kylin and its subsidiaries. 
 

B.         Liquidity      
     and Capital Resources
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The following table presents a summary of our cash flows and beginning and ending