Company: AEHL
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-008020
Chunk: 35

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-05-01
Form: 20-F
Item: Item 5
Chunk 35
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 we discontinued operation of this segment in April 2023.
 
Revenue from business management and information system consulting services.
 
Revenue from business management and information system consulting services was $ 1.0 million for the year ended December 31, 2023, compare to $ 1.9 million for the year ended December 31, 2022, representing a decrease of $ 0.9 million or 46.4%. The decrease in revenue was mainly from Chengdu Future. Due to intense market competition and lack of efficient marketing and promotional efforts, Chengdu Future was unable to attract and obtain new customers for the year ended December 31, 2023, and this segment only generated revenue from the service contracts that were previously entered into; we recorded consulting revenue over the service term, however, there were a few service agreements that were early terminated. In addition, management focused more attention and allocated more resources to the livestreaming ecommerce segment.
 
Cost of revenues for livestreaming ecommerce.
 
Cost of sales for the livestreaming ecommerce was $ 62.7 million and $ 36.5 million for the years ended December 31, 2023 and 2022. For the year ended December 31, 2023 and 2022, our cost of sales mainly consisted of professional costs for outsourcing technology services. The increase in the cost of revenues for our livestreaming ecommerce resulted from the rapid growth of this business. In addition, the cost for the sales of customized DOU+ was $ 5.3 million.
 
Cost of revenues for sales of tile products.
 
Cost of revenues for sales of tile products was $ 1.1 million for the year ended December 31, 2023 compared to $ 6.1 million for the year ended December 31, 2022, representing a decrease of $ 5.0 million, or 82.6%. The decrease in cost of sales was primarily due to discontinued operations of this segment.
 
Cost of revenues for business management and information system consulting services.
 
Cost of revenues for business management and consulting services was $ 2.0 million and $ 1.9 million for the year ended December 31, 2023 and 2022. We amortized prepaid consulting expenses to our service provider over the service term.
 

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Gross profit for livestreaming ecommerce. Gross profit for the livestreaming ecommerce was $ 8.4 million and $ 4.2 million