Company: AEHL
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-008020
Chunk: 36

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-05-01
Form: 20-F
Item: Item 5
Chunk 36
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 for the years ended December 31, 2023 and 2022.
 
Gross loss for sales of tile products. Gross loss for the tile products was $ 0.7 million and $ 0.5 million for the years ended December 31, 2023 and 2022.
 
Gross loss for business management and consulting. Gross loss for the business management and consulting services was $ 0.9 million and $ 23,000 for the year ended December 31, 2023 and 2022.
 
Other income. Other income for the year ended December 31, 2023 was $ 0.5 million, as compared to $ 0.4 million for the same period of 2022. For the year ended December 31, 2023, other income mainly consisted of a government grant of $ 42,000, interest income of $302,000, loan forgiveness of $167,000 and other income $ 15,000. For the year ended December 31, 2022, other income mainly consisted of a waiver of payment for VAT receivable of $ 0.4 million from Hainan Kylin, interest income of $ 2,000 and exchange gain of $ 11,000.
 
For both 2023 and 2022, we had other income from the discontinued operation of $ 0.8 million and $ 2.1 million, which were mainly attributable to the income from leasing out one of the production lines from our Hengdali facility pursuant to an eight-year lease contract.
 
Selling and distribution expenses. Selling and distribution expenses were $ 7.4 million for the year ended December 31, 2023, compared to $ 2.4 million for the year ended December 31, 2022, representing an increase of $ 5.0 million, or 204.0%. The increase in selling and distribution expenses was primarily due to an increased advertising and promotion expense of $ 5.3 million, an increased payroll expense of $ 27,457, and an increased travel expense of $ 25,153, due to the significant growth of our livestreaming ecommerce business which was partly offset by decreased commission expense of $ 0.4 million. For the years ended December 31, 2023 and 2022, we had selling and distribution expenses $ 0.2 million and $ 0.9 million from our discontinued operations.
 
Administrative expenses