Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 77

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 77
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 2023, representing a decrease of $ 6.9 million, or 92.6%. The decrease in selling and distribution expenses was primarily due to a decreased advertising and promotion expense of $ 6.1 million, and decreased commission expense of $ 0.8 million. For the year ended December 31, 2023, we had selling and distribution expenses $ 0.2 million from our discontinued operations.

Administrative expenses.Administrative expenses were $ 10.8 million for the year ended December 31, 2024, compared to $ 12.6 million for the year ended December 31, 2023, representing a decrease of $ 1.8 million, or 14.5%. The decrease in administrative expenses was primarily due to a decrease in (i) professional expenses of $ 1.3 million, (ii) a $ 0.4 million decrease in stock compensation expenses, (iii) a $ 0.1 million decrease in insurance, (iv) a $ 0.2 million decrease in R&D expense, which was partly offset by an $ 0.2 million increase in delivery and shipping expense. For the year ended December 31, 2023, we had administrative expenses of $ 0.2 million from discontinued operations.

Finance costs.Finance costs were $ 1.2 million for the year ended December 31, 2024, compared to $ 0.1 million for the year ended December 31, 2023, representing an increase of $ 1.1 million, or 798.6%. The increase was mainly due to the increase of interest expense on lease liabilities and increase of interest expense on note payable.

Loss before taxation.Loss before taxation was $ 10.6 million for the year ended December 31, 2024, compared to loss before taxation of $ 12.3 million for the year ended December 31, 2023, representing a decrease of $ 1.7 million, or 13.8%. The decrease in loss before taxation was mainly due to a decrease in administrative expenses and decreased in selling and distribution expense which was partly offset by decreased gross profit as described above. For the year ended December 31, 2023, we had a loss before taxation of $ 0.2 million from discontinued operations. In addition, we had a $ 10.4 million gain from disposal of our tile subsidiaries.

Income taxes.We incurred an income tax expense of $