Company: AEHL
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-008020
Chunk: 59

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-05-01
Form: 20-F
Item: Item 7
Chunk 59
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 citizen.
 
(c)
 
Citizenship
 
Atlas Sciences LLC is a Utah limited liability company.
 
(6)The mailing address for this individual is No. 204, Unit 2, Building 1 Douban Hutong Dongcheng District Beijing.
 

B.   Related Party Transactions
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The following are significant related party transactions entered into between the Company and its related parties at agreed rates:
 

  61 
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Amounts outstanding from related parties
 
From March 31, 2023 to June 27, 2023, Anhui Zhongjun Enterprise Management Co., Ltd (“Anhui Zhongjun”) borrowed RMB 36,780,000 from our subsidiary, Antelope Enterprise Holdings (Chengdu) Co., Ltd., pursuant to a loan agreement that provided for annual interest of 4.35%. The loan agreement was subsequently replaced by supplemental agreements.  Mr. Zhang Yonghong, a former director of our subsidiary, Chengdu Future Talented Management and Consulting Co., Ltd.(“Chengdu”), was a director of Anhui Zhongjun at the time the loan was entered into. He subsequently resigned from his position as a director of Chengdu as well as his directorship with Anhui Zhongiun. Anhui Zhongjun’s shareholder is an unrelated third party .
 
We entered into the loan agreement with Anhui Zhongjun with the understanding that it would make these funds available to the customers of our livestreaming ecommerce business.  These customers, while selling products on popular third party sales platforms such as Douyin, Xiaohongshu and Kuaishou, do not immediately receive payment for their sales to consumers. With the popular “7-day unconditional return policy” adopted by most of the third-party sales platforms our customers are not paid for a period of two weeks to two months, resulting in negative cash flows. Following a popular model in China, we enter into this loan arrangement so that our customers use the borrowed funds to relieve the negative cash flows. The understanding of all parties is that upon receipt of funds from Anhui Zhongjun, our customers will prioritize the dispatch and delivery of their products to the consumers who purchase these products on the livestreaming sites hosted by our influencers and hosts. By providing these funds, we seek to ensure the availability and ample supply of the products sold on our livestreaming sites. If, and when, customers approach us for potential financing support, which is common