Company: AEHL
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-008020
Chunk: 31

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-05-01
Form: 20-F
Item: Item 5
Chunk 31
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 information system consulting services was $ 0.2 million for the year ended December 31, 2024, compare to $ 1.0 million for the year ended December 31, 2023, representing a decrease of $ 0.8 million or 83.7%. The decrease in revenue was primarily due to intense market competition and lack of efficient marketing and promotional efforts, the Company was unable to attract and obtain new customers for the year ended December 31, 2024. In addition, management focused more attention and allocated more resources to the livestreaming ecommerce segment.
 
Cost of revenues for livestreaming ecommerce.
 
Cost of revenues for the livestreaming ecommerce was $ 98.7 million and $ 62.7 million for the years ended December 31, 2024 and 2023. For the years ended December 31, 2024 and 2023, our cost of revenues mainly consisted of professional costs for outsourcing technology services. The increase in the cost of revenues for our livestreaming ecommerce resulted from increased revenues for livestreaming ecommerce, and the changes with our major clients’ type, we adjusted our business strategy and focus on expanding new customers. However, there is a certain adaptation and training period for the new customers, which directly led to increased costs such as increased training costs, additional management and support costs. In addition, the cost for customized DUO+ application sales were $ 24.6 million and $ 5.3 million for the years ended December 31, 2024 and 2023.
 
Cost of revenues for sales of tile products.
 
Cost of revenues for sales of tile products was $ nil and $ 1.1 million for the years ended December 31, 2024 and 2023.
 
Cost of sales for business management and information system consulting services.
 
Cost of sales for business management and consulting services was $ 0.2 million and $ 2.0 million for the years ended December 31, 2024 and 2023.
 
Gross profit (loss) for livestreaming ecommerce. Gross loss for the livestreaming ecommerce was $ 0.1 million and gross profit of $ 8.4 million for the years ended December 31, 2024 and 2023. The gross loss for the year ended December 31, 2024 was due to fierce competition in this industry; in order to cope with the market competition, we have temporarily lowered our service rates for