# EDGAR Filing Document

**Accession Number:** 0001470683
**File Stem:** 0001104659-23-011725
**Filing Date:** 2023-2
**Character Count:** 138810
**Document Hash:** 5b46e43d2f1860f2b03db45e34a77bb9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-011725.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0001104659-23-011725

**CONFORMED SUBMISSION TYPE**: F-3

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230207

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Antelope Enterprise Holdings Ltd
- **CENTRAL INDEX KEY:** 0001470683
- **STANDARD INDUSTRIAL CLASSIFICATION:** STRUCTURAL CLAY PRODUCTS [3250]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** D8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** F-3
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-269618
- **FILM NUMBER:** 23595097

**BUSINESS ADDRESS:**
- **STREET 1:** UNIT 2905, 29/F, METROPLAZA TOWER 2
- **STREET 2:** 223 HING FONG ROAD, KWAI CHUNG, NT
- **CITY:** HONG KONG
- **STATE:** F4
- **ZIP:** 00000
- **BUSINESS PHONE:** 86 15905989919

**MAIL ADDRESS:**
- **STREET 1:** UNIT 2905, 29/F, METROPLAZA TOWER 2
- **STREET 2:** 223 HING FONG ROAD, KWAI CHUNG, NT
- **CITY:** HONG KONG
- **STATE:** F4
- **ZIP:** 00000

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** China Ceramics Co., Ltd
- **DATE OF NAME CHANGE:** 20090820

**As filed with the U.S. Securities and Exchange Commission on February 7, 2023**

Registration No. [●]

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM F-3**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

**Antelope Enterprise Holdings Ltd.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **British Virgin Islands** | **N/A** | **Not Applicable** |
| (State or other jurisdiction of<br> incorporation or organization) | (Translation of Registrant's Name into English) | (I.R.S. Employer<br> Identification No.) |

---

**Room 1802, Block D, Zhonghai International Center, Hi-Tech Zone, Chengdu,** **Sichuan Province, PRC**

**Telephone: +86 (28) 8532 4355**

(Address of principal executive offices, including zip code)

**Puglisi & Associates**

**850 Library Avenue**

**Suite 204**

**Newark, Delaware 19711**

(Name, address including zip code, and telephone number, including area code, of agent for service)

***Copies to:***

**Joan Wu, Esq.**

**Hunter Taubman Fisher & Li LLC**

**950 Third Avenue, 19th Floor**

**New York, NY 10022**

**Tel: (212) 530-2208**

Approximate date of commencement of proposed sale to the public: From time to time after the effective date of this Registration Statement.

If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. ◻

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ⌧

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ◻

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ◻

If this Form is a registration statement pursuant to General Instruction I.C. or a post-effective amendment thereto that shall become effective upon filing with the SEC pursuant to Rule 462(e) under the Securities Act, check the following box. ◻

If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.C. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. ◻

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933.

Emerging growth company ◻

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ◻

**The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until this Registration Statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.**

**The information in this prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell securities and it is not soliciting an offer to buy securities in any state where the offer or sale is not permitted.**

**Subject to completion, dated [ ], 2023**

**PRELIMINARY PROSPECTUS**

**1,833,334** **issuable upon exercise of outstanding warrants sold in private placements, offered by the Selling Shareholders**

**of**

**Antelope Enterprise Holdings, Ltd.**

This prospectus relates to the offer and sale of up to 1,666,667 ordinary shares, par value $0.024 each, issuable upon the exercise of certain warrants at an exercise price of $0.80 per share (the "Investor Warrants") and 166,667 ordinary shares issuable upon the exercise of certain warrants at an exercise price of $0.75 per share (the "Placement Agent Warrants", together with the Investor Warrants, the "Warrants"). Our ordinary shares are issuable upon exercise of these warrants which are currently held by certain Selling Shareholders named in this prospectus. We issued the Warrants in connection with the public offering of 1,666,667 ordinary shares pursuant to the prospectus supplement to the registration statement on the F-3 (File No. 333-260958), dated September 30, 2022. The shares issuable upon exercise of such Warrants may be offered for sale from time to time by the Selling Shareholders. We will receive proceeds from any exercises of the above warrants, but not from the sale of the underlying ordinary shares.

The Selling Shareholders may sell any or all of the shares on any stock exchange, market or trading facility on which the Shares are traded or in privately negotiated transactions at fixed prices that may be changed, at market prices prevailing at the time of sale or at negotiated prices. Information on the Selling Shareholders and the times and manners in which they may offer and sell our shares is described under the sections entitled "Selling Shareholders" and "Plan of Distribution" in this prospectus. While we will bear all costs, expenses and fees in connection with the registration of the Shares, we will not receive any of the proceeds from the sale of our shares by the Selling Shareholders.

**The PCAOB announced on December 16, 2021 that it had determined that it was unable to inspect or investigate completely Centurion ZD CPA & Co., which audited the Company's financial statements included in our Annual Report on Form 20-F for year ended December 31, 2021. On May 9, 2022, the SEC provisionally identified the Company as a Commission-Identified Issuer on the SEC's website at www.sec.gov/HFCAA. That provisional identification became final on May 31, 2022. The Holding Foreign Companies Accountable Act (HFCAA) states that if the SEC determines that we have filed audit reports issued by a registered public accounting firm that has not been subject to inspection by the PCAOB for three consecutive years beginning in 2021, the SEC shall prohibit our shares from being traded on a national securities exchange or in the over the counter trading market in the United States.** **On June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act (the "AHFCAA"), and if it were enacted, would require foreign companies to comply with the PCAOB audits within two consecutive years instead of three consecutive years, which would reduce the time before our securities may be prohibited from trading or be delisted. On December 29, 2022, a legislation entitled "Consolidated Appropriations Act, 2023" (the "Consolidated Appropriations Act"), was signed into law by President Biden. The Consolidated Appropriations Act contained, among other things, an identical provision to AHFCAA, which reduces the number of consecutive non-inspection years required for triggering the prohibitions under the HFCA Act from three years to two.**

**On August 26, 2022, the China Securities Regulatory Commission, the Ministry of Finance of the PRC (the "MOF"), and the PCAOB signed a Statement of Protocol (the "Protocol"), governing inspections and investigations of audit firms based in mainland China and Hong Kong, taking the first step toward opening access for the PCAOB to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong. Pursuant to the fact sheet with respect to the Protocol disclosed by the U.S. Securities and Exchange Commission (the "SEC"), the PCAOB shall have independent discretion to select any issuer audits for inspection or investigation and has the unfettered ability to transfer information to the SEC. On December 15, 2022, the PCAOB Board determined that the PCAOB was able to secure complete access to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong and voted to vacate its previous determinations to the contrary. However, should PRC authorities obstruct or otherwise fail to facilitate the PCAOB's access in the future, the PCAOB Board will consider the need to issue a new determination.** **In the event it is later determined that the PCAOB is unable to inspect or investigate completely our auditor, then such lack of inspection could cause trading in our securities to be prohibited under the HFCA Act, and ultimately result in a determination by a securities exchange to delist our securities.**

Our shares are currently traded on the Nasdaq Stock Market under the symbol "AEHL". On February 6, 2023, the closing price for our shares on Nasdaq was $1.07 per share.

As of February 2, 2023, the aggregate market value of the voting and non-voting common equity held by non-affiliates, computed by reference to the price at which the common equity was last sold on February 2, 2023 at $1.09, was $8,057,019.49, based on 13,060,650 outstanding ordinary shares as of such date, of which 7,351,867 were held by non-affiliates. Pursuant to General Instruction I.B.5 of Form F-3, in no event will we sell securities in a public primary offering with a value exceeding more than one-third of our public float in any 12-month period so long as our public float remains below $75.0 million. During the 12 calendar months prior to and including the date of this prospectus, we have sold $1,000,000.20 pursuant to General Instruction I.B.5 of Form F-3.

In the prospectus, Antelope Enterprise Holdings Limited is referred to as "Antelope Enterprise." We refer to our subsidiaries as follows: Success Winner Limited, a British Virgin Islands company and a wholly owned subsidiary, is referred to as "Success Winner," Stand Best Creation Limited, a Hong Kong company and wholly owned subsidiary of Success Winner, is referred to as "Stand Best," Jinjiang Hengda Ceramics Co., Ltd., a wholly-owned PRC subsidiary of Stands Best, is referred to as "Hengda," Jiangxi Hengdali Ceramics Material Co., Ltd., a wholly-owned PRC subsidiary of Hengdais referred to as "Hengdali," Antelope Enterprise (HK) Holdings Limited, a Hong Kong company and wholly owned subsidiary of Success Winner, is referred to as "Antelope (HK)," Antelope Holdings (Chengdu) Co., Ltd., a wholly-owned PRC subsidiary of Antelope (HK) , is referred to as "Antelope (Chengdu)," Vast Elite Limited, a Hong Kong company and wholly owned subsidiary of Success Winner, is referred to as "Vast Elite," Chengdu Future Talented Management and Consulting Co., Ltd. , a wholly-owned PRC subsidiary of Vast Elite, is referred to as "Chengdu Future" and our 51% owned subsidiary, Hainan Kylin Cloud Services Technology Co., Ltd, is referred to as "KylinCloud". This information is provided to clarify our disclosure as it relates to the various entities in our corporate structure. Currently, we have four indirectly held subsidiaries in mainland China. Hengda and Hengdali, both of which manufacture ceramic titles; Antelope Chengdu which is engaged in computer consulting and software development; and Chengdu Future which is engaged in business management and consulting services; and KylinCloud, which is engaged in online social commerce and live streaming.

Antelope Enterprise, our ultimate British Virgin Islands holding company, does not have any substantive operations other than indirectly holding the equity interest in our operating subsidiaries in China and other countries and regions. As of the date of this prospectus, (i) Antelope Enterprise's business operations are carried out inside China; and (ii) it does not maintain any variable interest entity structure or operate any data center in China. Antelope Enterprise may still be subject to PRC laws relating to, among others, data security and restrictions over foreign investments due to the complexity of the regulatory regime in China, and the recent statements and regulatory actions by the PRC government relating to data security may affect our business operations in China or even our ability to offer securities in the United States. Neither Antelope Enterprise nor any of our subsidiaries has obtained the approval from either the China Securities Regulatory Commission (the "CSRC") or the Cyberspace Administration of China (the "CAC") for any offering we or the selling shareholders may make under this prospectus and any applicable prospectus supplement, and Antelope Enterprise does not intend to obtain the approval from either the CSRC in connection with any such offering, since Antelope Enterprise does not believe that such approval is required under these circumstances or for the time being. There can be no assurance, however, that regulators in China will not take a contrary view or will not subsequently require us to undergo the approval procedures and subject us to penalties for non-compliance. See "Risk Factors—Risks Related to Doing Business in China."

Recent statements and regulatory actions by the Chinese government have targeted those companies whose operations involves cross-border data security or anti-monopoly concerns.

With regard to data security, China promulgated several important laws recently. Among them, on June 10, 2021, China promulgated the PRC Data Security Law ("DSL"), which became effective on September 1, 2021. The legislative intent for this law mainly includes regulating data processing activities, ensuring data security, promoting data development and utilization, protecting the data-related legitimate rights and interests of individuals and organizations, and safeguarding national sovereignty, security and development interests. Article 36 provides that any Chinese entity that provides data to foreign judicial or law enforcement agencies (regardless of whether directly or through a foreign entity) without approval from the Chinese authority would likely be deemed to be in violation of DSL. In addition, pursuant to Article 2 of Measures for Cybersecurity Reviews (the "Measures"), the procurement of any network product or service by an operator of critical information infrastructure that affects or may affect national security shall be subjected to a cybersecurity review under the Measures. Pursuant to Article 35 of Cybersecurity Law of the People's Republic of China, where "critical information infrastructure operators" purchase network products and services, which may influence national security, the operators are required to be subjected to a cybersecurity review. Our subsidiaries, Hengda and Hengdali, are manufacturers of ceramic tiles and they do not operate any critical information infrastructure. In terms of our remaining three Chinese subsidiaries, two of them, Antelope Chengdu and Antelope Futures are engaged in computer consulting and software development, and our 51% owned subsidiary, KylinCloud, is engaged in online social commerce and live streaming, and none of these subsidiaries operate any critical information infrastructure. As a result, we do not believe that these new legal requirements are applicable to our subsidiaries. However, the exact scope of the term "critical information infrastructure operator" remains unclear, so there can be no assurance that our subsidiaries will not be subjected to critical information infrastructure operator review in the future. Furthermore, in the event that Antelope Chengdu, Antelope Future or KylinCloud become operators of critical information infrastructure in the future they may be subjected to the above-described regulation.

With regard to anti-monopoly, Article 3 of Anti-Monopoly Law of the People's Republic of China (the "Anti-Monopoly Law") prohibits "monopolistic practices," which include: a) the conclusion of monopoly agreements between operators; b) the abuse of dominant market position by operators; and c) concentration of undertakings which has or may have the effect of eliminating or restricting market competition. Also, according to Article 19 of the Anti-Monopoly Law, the operator(s) will be assumed to have a dominant market position if the following apply: a) an operator has 50% or higher market share in a relevant market; b) two operators have 66% or higher market share in a relevant market; c) three operators have 75% or higher market share in a relevant market. We believe that none of our subsidiaries in China has engaged in any monopolistic practices in China, and that recent statements and regulatory actions by the Chinese government do not impact our ability to conduct business, accept foreign investments, or list on a U.S. or other foreign stock exchange. However, there can be no assurance that regulators in China will not promulgate new laws and regulations or adopt new series of interpretations or regulatory actions which may require our Chinese subsidiaries to meet new requirements on the issues mentioned above. See "Risk Factors—Risks Related to Doing Business in China."

In general, rules and regulations in China can change quickly with little advance notice, creating substantial uncertainty. Changes in the PRC legal system may adversely affect our business and operation. See "Risk Factors—Risks Related to Doing Business in China."

Cash transfers within our organization are effected by means of bank wires. For example, if a subsidiary needs a cash advance for working capital needs, management will decide which entity in our organization will loan the required cash to that subsidiary, and we will cause Antelope Enterprise or one of our subsidiaries to make the loan. The proceeds of the loan will be wired to the borrower subsidiary and will be recorded on our books as 'Inter-Company due.' Such loan amounts are eliminated in our consolidated financial statements. Cash transferred outside of our organization to satisfy our obligations to third parties are also effected via wire transfer. We have no current plans to distribute earnings. No dividends or distributions have been made during the three years preceding the date of this Prospectus. The enforceability and treatment of the intercompany agreements within our organization, including the intercompany loan agreements described above used in connection with intercompany cash transfers, have not been tested in court. For further information regarding cash transfers within our organization please see our Consolidated Financial Statements for the years ended December 31, 2021, 2020 and 2019, and the information on segment reporting in the notes thereto, located in our Annual Report on Form 20-F for the fiscal year ended December 31, 2021 filed with the SEC on May 2, 2022.

We may amend or supplement this prospectus from time to time by filing amendments or supplements as required.

**Investing in our securities involves risks. See "Risk Factors" beginning on page 4 of this prospectus.**

**Neither the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.**

**Prospectus dated [ ], 2023**

**TABLE OF CONTENTS**

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| | |
|:---|:---|
|  | **Page** |
| **[PROSPECTUS SUMMARY](#a_001)** | [2](#a_001) |
| **[RISK FACTORS](#a_002)** | [4](#a_002) |
| **[NOTE REGARDING FORWARD-LOOKING STATEMENTS](#a_003)** | [9](#a_003) |
| **[THE OFFERING](#a_004)** | [10](#a_004) |
| **[**CAPITALIZATION** AND INDEBTNESS](#a_005)** | [11](#a_005) |
| **[DILUTION](#a_006)** | [11](#a_006) |
| **[USE OF PROCEEDS](#a_007)** | [11](#a_007) |
| **[DIVIDEND POLICY](#a_008)** | [12](#a_008) |
| **[SELLING SHAREHOLDERS](#a_010)** | [14](#a_010) |
| **[PLAN OF DISTRIBUTION](#a_011)** | [16](#a_011) |
| **[EXPENSES](#a_012)** | [18](#a_012) |
| **[LEGAL MATTERS](#a_013)** | [18](#a_013) |
| **[EXPERTS](#a_014)** | [18](#a_014) |
| **[WHERE YOU CAN FIND MORE INFORMATION](#a_015)** | [18](#a_015) |
| **[INCORPORATION OF CERTAIN INFORMATION BY REFERENCE](#a_016)** | [19](#a_016) |
| **[ENFORCEABILITY OF CIVIL LIABILITIES](#a_017)** | [19](#a_017) |
| **[**DISCLOSURE OF COMMISSION POSITION ON INDEMNIFICATION FOR SECURITIES ACT LIABILITIES**](#a_018)** | [20](#a_018) |

---

**ABOUT THIS PROSPECTUS**

This prospectus is part of a registration statement that we filed with the Securities and Exchange Commission. Under this registration process, the selling shareholders may from time to time sell up to 1,833,334 ordinary shares in one or more offerings. This prospectus provides you with a general description of the securities that our selling shareholders may offer. Specific information about the offering may also be included in a prospectus supplement, which may update or change information included in this prospectus. You should read both this prospectus and any prospectus supplement together with additional information described under the heading "Where You Can Find More Information."

You should rely only on the information contained in this prospectus, any amendment or supplement to this prospectus or any free writing prospectus prepared by or on our behalf. Neither we, nor the selling shareholders, have authorized any other person to provide you with different or additional information. Neither we, nor the selling shareholders, take responsibility for, nor can we provide assurance as to the reliability of, any other information that others may provide. The selling shareholders are not making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. The information contained in this prospectus is accurate only as of the date of this prospectus or such other date stated in this prospectus, and our business, financial condition, results of operations and/or prospects may have changed since those dates.

Except as otherwise set forth in this prospectus, neither we nor the selling shareholders have taken any action to permit a public offering of these securities outside the United States or to permit the possession or distribution of this prospectus outside the United States. Persons outside the United States who come into possession of this prospectus must inform themselves about and observe any restrictions relating to the offering of these securities and the distribution of this prospectus outside the United States.

*Certain Defined Terms and Conventions*

Unless otherwise indicated, references in this prospectus to:

· "China" or the "PRC" are to the People's Republic of China, excluding, for the purpose of this prospectus only, Taiwan and the special administrative regions of Hong Kong and Macau.

· "RMB" and "Renminbi" are to the legal currency of China (see "Exchange Rate Information" for translations of RMB into U.S. dollars in this prospectus). This prospectus contains translations of certain RMB amounts into U.S. dollar amounts at specified rates. We make no representation that the RMB or U.S. dollar amounts referred to in this prospectus could have been or could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all (also see "Risk Factors"). On January 31, 2023, the exchange rate was RMB 6.7604 to US$1.00.

· "shares" are to our shares, par value US$0.024 per share.

· "US$" and "U.S. dollars" are to the legal currency of the United States.

**PROSPECTUS SUMMARY**

**Our Business**

Antelope Enterprise Holdings Ltd. engages in business management, information systems consulting, and online social commerce and live streaming with a legacy ceramic tile manufacturing business in China.

The ceramic tiles manufacture red by two of our subsidiaries, namely, Jinjiang Hengda Ceramics Co., Ltd. ("Jinjiang Hengda") and Jiangxi Hengdali Ceramic Materials Co., Ltd. ("Jiangxi Hengdali"), are used for exterior siding and for interior flooring and design in residential and commercial buildings. The ceramic tiles, sold under the "HD" or "Hengda," brands are available in over two thousand styles, colors and size combinations. Currently, we have five principal product categories: porcelain tiles, glazed tiles, glazed porcelain tiles, rustic tiles, and polished glazed tiles. Ceramic tiles are widely used in the PRC as a construction material for residential and commercial buildings. Ceramic tiles are used for flooring, interior walls for decorative purposes and on exterior siding due to their resistance to temperature, extreme environments, erosion, abrasion and discoloration for extended periods of time. Our manufacturing facilities, operated by Jinjiang Hengda, are located in Jinjiang, Fujian Province, and our manufacturing facilities, operated by Jiangxi Hengdali, are located in Gaoan, Jiangxi Province. We have begun to execute on a corporate diversification strategy by incorporating new subsidiaries which are mainly engaged in trending technology businesses in China. These include business management and consulting including human resource restructuring and optimization, information system technology consulting services including the sales of software use rights for digital data deposit platforms and asset management systems, and an online social media platform including live streaming and e-commence platform development and consulting. Two of our new subsidiaries, Chengdu Future and Antelope Chengdu, made a modest contribution to our financial performance for the year ended December 31, 2020, and KylinClouds, Antelope Chengdu and Chengdu Future jointly made a significant contribution to our financial performance for the fiscal year ended December 31, 2021 and for the six months ended June 30, 2022.

Chengdu Future Talented Management and Consulting Co., Ltd ("Chengdu Future"), located in Chengdu, Sichuan Province, engages in a wide range of business consultancy services. Its main focus is to provide comprehensive consulting services in the areas of enterprise management, information systems, human resource management and operations engineering. It helps enterprises to develop and implement innovative solutions to enable their growth, improve their performance and efficiency and to resolve technical pain points to ensure their financial and operational stability. Chengdu Future plans to continue to expand the scope of its services and penetrate new markets across China.

Antelope Holdings (Chengdu) Co., Ltd., ("Antelope Chengdu"), located in Chengdu, Sichuan Province, engages in management consulting services including system process consulting, project analysis, financial analysis, and software products and services. It diagnoses difficulties in infrastructure and enterprise systems and addresses business challenges that enterprises confront by developing strategies to surmount such hurdles to ensure the healthy growth and development of its client companies. Its consulting teams have advanced technological knowledge and capabilities to implement workflow solutions via proprietary software products and services to help its enterprise clients with customized solutions to solve complex problems. Antelope Chengdu plans to continue to expand the scope of its services and penetrate new markets across China.

Hainan Kylin Cloud Services Technology Co., Ltd ("KylinCloud"), headquartered in Hainan Province, is an SAAS service platform that engages in online social media platforms, including a live streaming and e-commence platform that matches anchors and influencers with consumer brand companies. Its online presence also includes a human resources platform that matches enterprises with a wide range of freelance workers and entrepreneurs. It is a leader in online employment matching, including technical, professional and industrial supply chain job candidates, and replaces the traditional human resource structure. Its online platform also provides entrepreneurial business consulting, skills training, resources for self-employment, counseling, compensation payment system services and other financial services. The KylinCloud online employment platform is designed to save enterprises significant costs in recruiting and hiring and covers 32 provinces in the PRC. KylinCloud also operates social e-commerce platforms such as Yunji E-Commerce, Leke Unicorn, Douyin Live, KK Live, and others. It currently operates as a multi-channel network, or influencer network, that works with live streaming video platforms to make their programming, partnerships digital rights, revenue and monetization effective. It plans to continue to expand its live streaming online platform by developing an array of professional anchor broadcasters, as well as discover and provide amateur anchors with training services, who would provide value-added content and services. Its growth plans include entry into digital entertainment such as video games, computer hardware digital products and e-sports.

**Corporate Information**

Our principal executive office is located at Room 1802, Block D, Zhonghai International Center, Hi- Tech Zone, Chengdu, Sichuan, People's Republic of China. Our telephone number at this address is +86 28 8532 4355. Our registered office is Craigmuir Chambers, Road Town, Tortola, British Virgin Islands, and our registered agent is Harneys Corporate Services Limited. Our agent for service of process in the United States is Puglisi & Associates, located at 850 Library Avenue, Suite 204, Newark, Delaware 19711. We maintain a website at http://www.aehlt-kylin.com that contains information about our company. **Information on this website is not part of this prospectus**.

**<u>Risks Factors</u>**

· Recent regulatory developments in China may subject us to additional regulatory review and disclosure requirement, expose us to government interference, or otherwise restrict our ability to offer securities and raise capital outside China, all of which could materially and adversely affect our business and the value of our securities.

· Our Ordinary Shares may be delisted under the HFCA Act if the PCAOB is unable to inspect our auditors with presence in China, and the delisting of our Ordinary Shares, or the threat of their being delisted, may materially and adversely affect the value of your investment.

· The PRC government has significant influence over companies with China-based operations by enforcing existing rules and regulation, adopting new ones, or changing relevant industrial policies in a manner that may materially increase our compliance cost, change relevant industry landscape or otherwise cause significant changes to our business operations in China, which could result in material and adverse changes in our operations and cause the value of our securities to significantly decline or be worthless.

· We rely on offerings of our securities in the United States capital markets to fund our working capital needs. In the future, the approval of the Chinese Government may be required in order for us to offer our securities in the United States. We cannot predict whether we will be able to obtain such approval. Our failure to obtain or maintain any requisite approvals would have a material adverse effect on our ability to continue as a going concern, and could result in a loss of your entire investment.

· Rules and regulations in China can change quickly, with little advance notice, creating substantial uncertainty. Changes in the PRC legal system may adversely affect our business and operations. See "Risk Factors—Risks Related to Doing Business in China."

**RISK FACTORS**

Any investment in the shares is speculative and involves a high degree of risk. Before making an investment decision, you should carefully consider the risks described under "Risk Factors" in our most recent Annual Report on Form 20-F, or any updates in our reports on Form 6-K, together with all of the other information appearing in, or incorporated by reference into, this prospectus and any applicable prospectus supplement. The risks so described are not the only risks facing our company. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. Our business, financial condition and results of operations could be materially adversely affected by any of these risks. The trading price of our securities could decline due to any of these risks, and you may lose all or part of your investment.

***Risks Related to the Offering***

***Our shares may be delisted under the HFCA Act if the PCAOB is unable to inspect our auditor, which is located in Hong Kong, and the delisting of our shares, or the threat of their being delisted, may materially and adversely affect the value of your investment.***

The Holding Foreign Companies Accountable Act was enacted on December 18, 2020. The HFCA Act states that if the SEC determines that we have filed audit reports issued by a registered public accounting firm that has not been subject to inspection by the PCAOB for three consecutive years beginning in 2021, the SEC shall prohibit our shares from being traded on a national securities exchange or in the over the counter trading market in the United States. On December 2, 2021, the SEC adopted final amendments to its rules implementing the HFCAA. Such amendments require certain SEC registrants to submit documentation and make disclosures required under the HFCAA. In addition, the final amendments also establish procedures that the SEC follows in (i) determining whether a registrant is a "Commission-Identified Issuer" and (ii) prohibiting the trading on U.S. securities exchanges and in the over-the-counter market of securities of a "Commission-Identified Issuer" under the HFCAA. The final amendments became effective on January 10, 2022. Our financial statements contained in the annual report on Form 20-F for the year ended December 31, 2021 have been audited by Centurion ZD CPA & Co., an independent registered public accounting firm that is headquartered in Hong Kong. Centurion ZD CPA & Co., is a firm registered with the PCAOB, and is required by the laws of the U.S. to undergo regular inspections by the PCAOB to assess its compliance with the laws of the U.S. and professional standards. However, because our auditor is based in Hong Kong, the PCAOB announced on December 16, 2021 that it had issued its report notifying the SEC of its determination that it is unable to inspect or investigate completely accounting firms headquartered in mainland China or Hong Kong. With respect to our Company, the PCAOB reported that it was unable to inspect or investigate our auditor, Centurion ZD CPA & Co., which audited the Company's financial statements included in our Annual Report on Form 20-F for year ended December 31, 2021 and which is located in Hong Kong. On May 9, 2022, the SEC provisionally identified the Company as a Commission-Identified Issuer on the SEC's website at <u>www.sec.gov/HFCAA</u> That provisional identification became final on May 31, 2022.

On June 22, 2021, the U.S. Senate passed the Accelerating Holdings Foreign Companies Accountable Act which, if passed by the U.S. House of Representatives and signed into law, would reduce the number of consecutive non-inspection years required for triggering the prohibitions under the HFCA Act from three years to two, thus reducing the time before our securities may be prohibited from trading or delisted. On December 29, 2022, a legislation entitled "Consolidated Appropriations Act, 2023" (the "Consolidated Appropriations Act"), was signed into law by President Biden. The Consolidated Appropriations Act contained, among other things, an identical provision to AHFCAA, which reduces the number of consecutive non-inspection years required for triggering the prohibitions under the HFCA Act from three years to two.

On August 26, 2022, the China Securities Regulatory Commission, the Ministry of Finance of the PRC (the "MOF"), and the PCAOB signed a Statement of Protocol (the "Protocol"), governing inspections and investigations of audit firms based in mainland China and Hong Kong, taking the first step toward opening access for the PCAOB to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong. Pursuant to the fact sheet with respect to the Protocol disclosed by the U.S. Securities and Exchange Commission (the "SEC"), the PCAOB shall have independent discretion to select any issuer audits for inspection or investigation and has the unfettered ability to transfer information to the SEC. On December 15, 2022, the PCAOB Board determined that the PCAOB was able to secure complete access to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong and voted to vacate its previous determinations to the contrary. However, should PRC authorities obstruct or otherwise fail to facilitate the PCAOB's access in the future, the PCAOB Board will consider the need to issue a new determination. In the event it is later determined that the PCAOB is unable to inspect or investigate completely our auditor, then such lack of inspection could cause trading in our securities to be prohibited under the HFCA Act, and ultimately result in a determination by a securities exchange to delist our securities.

***The Warrants may not have value***

The Warrants have an exercise price of $0.80 per share. In the event that our ordinary shares does not exceed the exercise price of the Warrants during the period when such warrants are exercisable, such warrants may not have any value.

***Holders of our Warrants will have no rights as shareholders until they acquire shares of our ordinary shares, if ever.***

The holders of the Warrants have no rights with respect to our ordinary shares until they acquire shares upon exercise of such Warrants. Upon such exercise, they will be entitled to exercise the rights of a holder of ordinary shares only as to matters for which the record date occurs after the exercise date.

***There is no public market for the Warrants being offered by us in this offering and an active trading market for the same is not expected to develop.***

There is no established public trading market for the Warrants being offered in this offering, and we do not expect a market to develop. Without an active market, the liquidity of the Warrants will be severely limited.

***Risks Related to Doing Business in China***

***The approval of the CSRC, and other compliance procedures may be required in connection with any offering we or the selling shareholders may make and, if required, we cannot predict whether we will be able to obtain such approval.***

Antelope Enterprise, our ultimate British Virgin Islands holding company, does not have any substantive operations other than indirectly holding the equity interest in our operating subsidiaries in China and other countries and regions. As of the date of this prospectus, (i) our business operations are carried out inside China; and (ii) we do not maintain any variable interest entity structure or operate any data center in China. We may still be subject to PRC laws relating to, among others, data security and restrictions over foreign investments due to the complexity of the regulatory regime in China, and the recent statements and regulatory actions by the PRC government relating to data security may affect our business operations in China or even our ability to offer securities in the United States. Neither we nor any of our subsidiaries has obtained the approval from either the China Securities Regulatory Commission (the "CSRC") or the Cyberspace Administration of China (the "CAC") for any offering we or the selling shareholders may make under this prospectus and any applicable prospectus supplement, and we do not intend to obtain the approval from either the CSRC in connection with any such offering, since we do not believe that such approval is required under these circumstances or for the time being. There can be no assurance however, that regulators in China will not take a contrary view or will not subsequently require us to undergo the approval procedures and subject us to penalties for non-compliance. The approval of the CSRC, and other compliance procedures may be required in connection with any offering we or the selling shareholders may make and, if required, we cannot predict whether we will be able to obtain such approval.

***We rely on offerings of our securities in the United States capital markets to fund our working capital needs. In the future, the approval of the Chinese government may be required in order for us to offer our securities in the United States. We cannot predict whether we will be able to obtain such approval. Our failure to obtain or maintain any requisite approvals would have a material adverse effect on our ability to continue as a going concern, and could result in a loss of your entire investment.***

Pursuant to prevailing Chinese laws and regulations, currently we believe that we are not required to obtain any approvals to offer securities to investors outside of China and we have never received any notice informing us that we are required to obtain such approvals in China. Although we are not obligated to obtain any Chinese governmental approvals with respect to offering securities in the United States under prevailing laws and regulations, we cannot predict whether we will be required to obtain approvals relating to the offering securities to investors outside of China or whether we will be able to obtain such approvals in the future. Recently, on July 6, 2021, the General Office of the CPC Central Committee and the General Office of the State Council promulgated Opinions on Lawfully and Severely Combating Illegal Securities Activities (the "Opinions"). The Opinions emphasize and require the strengthening of the supervision by the Chinese government of securities issued by entities operating in China (so-called China concept stocks) and listed on a securities exchange outside of China, which means Chinese government will take aggressive measures to address the risks relating to China concept stocks and to promote the construction of the relevant regulatory systems. Moreover, in particular, the Chinese government is preparing to amend the Special Provisions of the State Council on Offering and Listing abroad by Companies limited by Shares (the "Special Provisions") that became effective on August 4, 1994. The Special Provisions stipulate that those China-based companies planning to offer securities and to be listed on a securities exchange outside of China must obtain approval from the Securities Committee of the State Council. However, the Special Provisions exclude non-China companies with business operations in China. In light of ongoing trend in the Chinese government to increase the regulation of China-based companies that have been listed or seek to be listed in capital markets outside of China, we may be required to obtain approvals before offering securities to investors outside of China in the future. We cannot predict whether we will be able to obtain such approval with respect to offerings of securities in the United States. We rely on offerings of our securities in the United States capital markets to fund our working capital needs. Our failure to obtain or maintain any requisite approvals would have a material adverse effect on our ability to continue as a going concern, and could result in a loss of your entire investment.

***Recent regulatory developments in China may subject us to additional regulatory review and disclosure requirement, expose us to government interference, or otherwise restrict our ability to offer securities and raise capitals outside China, all of which could materially and adversely affect our business and the value of our securities.***

In light of the recent statements by the Chinese government indicating its intention to exert more oversight and control over overseas offerings of China-based companies and the proposed CAC review for certain data processing operators in China, we may adjust our business operations in the future, to comply with PRC laws regulating our industry and our business operations. However, such efforts may not be completed in a liability-free manner or at all. We cannot guarantee that we will not be subject to PRC regulatory inspection and/or review relating to cybersecurity, especially when there remains significant uncertainty as to the scope and manner of the regulatory enforcement. If we become subject to regulatory inspection and/or review by the CAC or other PRC authorities, or are required by them to take any specific actions, it could cause suspension or termination of the future offering of our securities, disruptions to our operations, result in negative publicity regarding our company, and divert our managerial and financial resources. We may also be subject to fines or other penalties, which could materially and adversely affect our business, financial condition, and results of operations.

We may be subject to PRC laws relating to, among others, data security and restrictions over foreign investments in value-added telecommunications services and other industry sectors set out in the Special Administrative Measures (Negative List) for the Access of Foreign Investment (2020 Edition). Specifically, we may be subject to PRC laws relating to the collection, use, sharing, retention, security, and transfer of confidential and private information, such as personal information and other data. These PRC laws apply not only to third-party transactions, but also to transfers of information between us and our wholly foreign-owned enterprises in China, and other parties with which we have commercial relations. These PRC laws and their interpretations and enforcement continue to develop and are subject to change, and the PRC government may adopt other rules and restrictions in the future.

The recent regulatory developments in China, in particular with respect to restrictions on China-based companies raising capital offshore, and the government-led cybersecurity reviews of certain companies with variable-interest entity ("VIE") structure, may lead to additional regulatory review in China over our financing and capital raising activities in the United States. Pursuant to the PRC Cybersecurity Law, which was promulgated by the Standing Committee of the National People's Congress on November 7, 2016 and took effect on June 1, 2017, personal information and important data collected and generated by a critical information infrastructure operator in the course of its operations in China must be stored in China, and if a critical information infrastructure operator purchases internet products and services that affect or may affect national security, it should be subject to cybersecurity review by the Cyberspace Administration of China (the "CAC"). The PRC Cybersecurity Law also establishes more stringent requirements applicable to operators of computer networks, especially to operators of networks which involve critical information infrastructure. The PRC Cybersecurity Law contains an overarching framework for regulating Internet security, protection of private and sensitive information, and safeguards for national cyberspace security and provisions for the continued government regulation of the Internet and content available in China. The PRC Cybersecurity Law emphasizes requirements for network products, services, operations and information security, as well as monitoring, early detection, emergency response and reporting. Due to the lack of further interpretations, the exact scope of "critical information infrastructure operator" remains unclear.

On July 10, 2021, the CAC publicly issued the Cybersecurity Review Measures (the "Draft Measures") for public comments until July 25, 2021. According to the Draft Measures, the scope of cybersecurity reviews is extended to data processing operators engaging in data processing activities that affect or may affect national security. The Draft Measures further requires that any operator applying for listing on a foreign exchange must go through cybersecurity review if it possesses personal information of more than one million users. According to the Draft Measures, a cybersecurity review assesses potential national security risk that may be brought about by any procurement, data processing, or overseas listing. The review focuses on several factors, including, among others, (1) the risk of theft, leakage, corruption, illegal use or export of any core or important data, or a large amount of personal information, and (2) the risk of any critical information infrastructure, core or important data, or a large amount of personal information being affected, controlled or maliciously exploited by a foreign government after a company is listed overseas. While the Draft Measures have been released for consultation purposes, there is still uncertainty regarding the final content of the Draft Measures, its adoption timeline or effective date, its final interpretation and implementation, and other aspects.

Furthermore, the Standing Committee of the National People's Congress passed the Personal Information Protection Law of the PRC ("PIPL"), which will become effective from November 1, 2021, and requires general network operators to obtain a personal information protection certification issued by recognized institutions in accordance with the CAC regulation before such information can be transferred out of China.

On July 30, 2021, in response to the recent regulatory developments in China and actions adopted by the PRC government, the Chairman of the SEC issued a statement requesting additional disclosures from offshore issuers with China-based operating companies before their registration statements will be declared effective, including detailed disclosure related to VIE structures and whether the VIE and the issuer, when applicable, received or were denied permission from the PRC authorities to list on U.S. exchanges and the risks that such approval could be denied or rescinded.

On August 1, 2021, the CSRC stated that it had taken note of the new disclosure requirements announced by the SEC regarding the listings of Chinese companies and the recent regulatory development in China, and that the securities regulators in both countries should strengthen communications on regulating China-related issuers. Our PRC legal counsel, All Bright Law Offices, has advised us that, in light of our business operations, we should not be required to undergo the CAC review for any offering that we or the selling shareholders may make. However, if the enacted version of the Draft Measures mandates clearance of cybersecurity review and other specific actions to be completed by companies aiming to offer securities outside China, we cannot assure you that the PRC regulatory authorities will not take a contrary view or will not subsequently require us to undergo the approval procedures and subject us to penalties for non-compliance, or that if we are required to obtain such clearance, such clearance can be timely obtained, or at all. If we become subject to cybersecurity inspection and/or review by the CAC or other PRC authorities or are required by them to take any specific actions, it could cause suspension or termination of the future offering of our securities, including offerings under this registration statement, disruptions to our operations, result in negative publicity regarding our company, and divert our managerial and financial resources. We may also be subject to significant fines or other penalties, which could materially and adversely affect our business, financial condition and results of operations. Furthermore, in the event that Antelope Chengdu, Antelope Future or KylinCloud become operators of critical information infrastructure in the future they (and Antelope Enterprise) may be subjected to the above-described regulation.

***The PRC government has significant influence over companies with China-based operations by enforcing existing rules and regulation, adopting new ones, or changing relevant industrial policies in a manner that may materially increase our compliance cost, change relevant industry landscape or otherwise cause significant changes to our business operations in China, which could result in material and adverse changes in our operations and cause the value of our securities to significantly decline or be worthless.***

Our operations are located entirely within China. The PRC government has significant influence over the China-based operations of any company by allocating resources, providing preferential treatment to particular industries or companies, or imposing industry-wide policies on certain industries. The PRC government may also amend or enforce existing rules and regulation, or adopt ones, which could materially increase our compliance cost, change the relevant industry landscape, or cause significant changes to our business operations in China. In addition, the PRC regulatory system is based in part on government policies and internal guidance, some of which are not published on a timely basis, or at all, and some of which may even have a retroactive effect. We may not be aware of all non-compliance incidents at all times, and we may face regulatory investigation, fines and other penalties as a consequence. As a result of the changes in the industrial policies of the PRC government, including the amendment to and/or enforcement of the related laws and regulations, companies with China-based operations, including us, and the industries in which we operate, face significant compliance and operational risks and uncertainties. For example, on July 24, 2021, Chinese state media, including Xinhua News Agency and China Central Television, announced a broad set of reforms targeting private education companies providing after-school tutoring services and prohibiting foreign investments in institutions providing such after-school tutoring services. As a result, the market value of certain U.S. listed companies with China-based operations in the affected sectors declined substantially. As of the date of this prospectus, we are not aware of any similar regulations that may be adopted to significantly curtail our business operations in China. However, if such other adverse regulations or policies are adopted in China, our operations in China will be materially and adversely affected, which may significantly disrupt our operations and adversely affect our business.

***We may be subject to anti-monopoly concerns as a result of our doing business in China.***

Article 3 of Anti-Monopoly Law of the People's Republic of China (the "Anti-Monopoly Law") prohibits "monopolistic practices," which include: a) the conclusion of monopoly agreements between operators; b) the abuse of dominant market position by operators; and c) concentration of undertakings which has or may have the effect of eliminating or restricting market competition. Also, according to Article 19 of the Anti-Monopoly Law, the operator(s) will be assumed to have a dominant market position if it has following situation: a) an operator has 50% or higher market share in a relevant market; b) two operators have 66% or higher market share in a relevant market; or c) three operators have 75% or higher market share in a relevant market. We believe none of our subsidiaries in China has engaged in any monopolistic practices in China, and that recent statements and regulatory actions by the Chinese government do not impact our ability to conduct business, accept foreign investments, or list on an U.S. or other foreign stock exchange. However, there can be no assurance that regulators in China will not promulgate new laws and regulations or adopt new series of regulatory actions which may require our Chinese subsidiaries to meet new requirements on the issues mentioned above.

***Rules and regulations in China can change quickly with little advance notice, creating substantial uncertainty. Changes in the PRC legal system may adversely affect our business and operation.***

Our business operations are conducted in the PRC and therefore regulated by the laws and regulations of the PRC. The PRC legal system is based on the written statutes and involves a unified, multilevel legislative system. The National People's Congress (the "NPC") and its Standing Committee exercise the state power to make laws. The NPC enacts and amends basic laws pertaining to criminal offences, civil affairs, state organs and other matters. The Standing Committee enacts and amends all laws except for basic laws that should be enacted by the NPC. When the NPC is not in session, its Standing Committee may partially supplement and revise laws enacted by the NPC, provided that the changes do not contravene the laws' basic principles. Generally, the PRC laws will go through specific legislative procedures before being promulgated. The legislative authority may propose a bill and then the bill shall be deliberated three times before being voted. However, administrative regulations are formulated by the State Council which reports them to the NPC. The administration regulations are often promulgated with little advance notice, which results in a lack of predictability, and substantial uncertainty. Moreover, the uncertainties may fundamentally impact the development of one or more specific industries and in extreme cases result in the termination of certain businesses. For example, the Opinions on Further Easing the Burden of Excessive Homework and After-School Tutoring for Students Undergoing Compulsory Education, known as "double reduction" education policy, was promulgated by General Office of the CPC Central Committee and General Office of the State Council on July 24, 2021. The "double reduction" education policy comes into effective immediately and has posed a significant impact on the education and training industries, as well as those China-based companies listed in the United States. The resulting unpredictable could materially and adversely affects the market value and the operation of the businesses affected.

Furthermore, the PRC administrative authorities and courts have the power to interpret and implement or enforce statutory rules and contractual terms at their reasonable discretion which makes the business environment much more complicated and unpredictable. It is difficult to predict the outcome of the administrative and court proceedings. The uncertainties may affect our assessments of the relevance of legal requirements, and our business decisions. Such uncertainties may result in substantial operating expenses and costs. Should there were any investigations, arbitrations or litigation with respect to our alleged non-compliance with statutory rules and contractual terms, the management team could be distracted from our primary business considerations, and therefore such a circumstance could materially and adversely affect our business and results of operations. We cannot predict future developments relating to the laws, regulations and rules in the PRC. We may be required to procure additional permits, authorizations and approvals for our operations, which we may not be able to obtain. Our failure to obtain such permits, authorizations and approvals may materially and adversely affect our business, financial condition and the results of operations.

**NOTE REGARDING FORWARD-LOOKING STATEMENTS**

Some of the information in this prospectus, any prospectus supplement, and the documents we incorporate by reference contains forward-looking statements within the meaning of the federal securities laws. You should not rely on forward-looking statements in this prospectus, any prospectus supplement, or the documents we incorporate by reference. Forward-looking statements typically are identified by use of terms such as "anticipate," "believe," "plan," "expect," "future," "intend," "may," "will," "should," "estimate," "predict," "potential," "continue," and similar words, although some forward-looking statements are expressed differently. This prospectus, any prospectus supplement, and the documents we incorporate by reference may also contain forward-looking statements attributed to third parties relating to their estimates regarding the growth of our markets. All forward-looking statements address matters that involve risks and uncertainties, and there are many important risks, uncertainties and other factors that could cause our actual results, as well as those of the markets we serve, levels of activity, performance, achievements and prospects to differ materially from the forward-looking statements contained in this prospectus, any prospectus supplement, and the documents we incorporate by reference. You should also consider carefully the statements under "Risk Factors" and other sections of this prospectus, any prospectus supplement, and the documents we incorporate by reference, which address additional facts that could cause our actual results to differ from those set forth in the forward-looking statements. We caution investors not to place significant reliance on the forward-looking statements contained in this prospectus, any prospectus supplement, and the documents we incorporate by reference. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise.

**THE OFFERING**

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| | |
|:---|:---|
| Ordinary Shares underlying Warrants offered by the Selling Shareholders | 1833334 |
| Ordinary Shares to Be Outstanding After This Offering | 14,893,984<sup>(1)</sup> (assumes the full exercise of the Warrants). |
| Use of Proceeds | We will receive proceeds from any exercises of the above warrants, but not from the sale of the underlying ordinary shares. |
| Risk Factors | Investing in our securities involves significant risks. Please read the information contained in or incorporated by reference under the heading "Risk Factors" beginning on page S-5 of this prospectus supplement, and under similar headings in other documents filed after the date hereof and incorporated by reference into this prospectus supplement and the accompanying prospectus. |
| Nasdaq Market Symbol | AEHL |

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(1) The number of ordinary shares to be outstanding after this offering is based on 13,060,650 ordinary shares outstanding as of February 3, 2023 and excludes, as of that date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 166,667 ordinary shares issuable upon the exercise of the warrants issuable to the placement agent in connection with the registered direct offering that closed in October 2022.

· 1,867,599 ordinary shares issuable upon the exercise of outstanding warrants with a weighted average price of $4.14; and

· up to an aggregate of 305,157 ordinary shares reserved for future issuance under our equity incentive plans.

**CAPITALIZATION AND INDEBTNESS**

The following table sets forth our capitalization as of June 30, 2022:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· on an actual basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· on an as adjusted basis to give effect to (i) the issuance of 1,666,667 ordinary shares on October 4,
2022 in a shelf takedown offering for net proceeds of $830,000, (ii) the issuance of 1,625,000 ordinary shares on January 12,
2023 in a private placement transaction for net proceeds of $1,300,000, (iii) the issuance of 1,234,568 ordinary shares on January 17,
2023, in a private placement transaction for net proceeds of $992,000, (iv) the issuance of 2,428,745 ordinary shares to the Company's
directors, employees and consultant from July 1, 2022 to the date of this prospectus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· on an as further adjusted basis to give effect to the full issuance of the 1,750,000 shares upon exercise
of the Warrants.

You should read the following table in conjunction with our financial statements, which are incorporated by reference into this prospectus:

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| | | | |
|:---|:---|:---|:---|
|  | **As of June 30, 2022** | **As of June 30, 2022** | **As of June 30, 2022** |
|  |<br>**Actual** |<br>**As Adjusted**<br>**(unaudited)** | **As Further**<br>**Adjusted**<br>**(unaudited)** |
|  | **RMB** | **RMB** | **RMB** |
| Shareholders' Equity |  |  |  |
| &nbsp;&nbsp;&nbsp;Ordinary shares, $0.024 par value, 50,000,000 shares authorized, 6,108,329 shares issued and outstanding, actual, and 13,063,309 shares issued and outstanding, pro forma as adjusted, and 14,813,309 shares issued and outstanding, pro forma as further adjusted | 6108239 | 13063309 | 14813309 |
| &nbsp;&nbsp;&nbsp;Par Value Amount | 964279 | 2082323 | 2363643 |
| Additional paid-in capital | 499322888 | 530360504 | 539651887 |
| Statutory reserves | 135343158 | 135343158 | 135343158 |
| Accumulated deficit | (612154845) | (610385842) | (610385842) |
| Accumulated other comprehensive income | (809641) | (809641) | (809641) |
| Total shareholders' equity | 22665839 | 56590502 | 66163205 |
| Noncontrolling interest | 4732546 | 4732546 | 4732546 |
| Total Equity | $27398385 | $61323048 | $70895751 |

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**DILUTION**

Because the Selling Shareholder may offer and sell the ordinary shares covered by this prospectus at various times, at prices and at terms then prevailing or at prices related to the then current market price, or in negotiated transactions, we have not included in this prospectus information about the dilution (if any) to the public arising from these sales.

**USE OF PROCEEDS**

We will receive proceeds from any exercises of the Warrants, but not from the sale of the underlying common stock. The selling shareholders will receive all of the net proceeds from the sale of any shares offered by them under this prospectus. The selling shareholders will pay any underwriting discounts and commissions and expenses incurred by the selling shareholders for brokerage, accounting, tax, legal services or any other expenses incurred by the selling shareholders in disposing of these shares. We will bear all other costs, fees and expenses incurred in effecting the registration of the Shares covered by this prospectus.

**DIVIDEND POLICY**

We paid a cash dividend of US$0.10 (equivalent to RMB0.61) per share each on August 13, 2013 and January 14, 2014, respectively, to our shareholders which totaled in aggregate US$4.1 million (equivalent to RMB24.9 million). Also, we paid a cash dividend of US$0.0125 (equivalent to RMB0.08) per share each on August 14, 2014 and January 14, 2015, respectively, to its shareholders which totaled in aggregate US$0.5 million (equivalent to RMB3.2 million).

We do not currently have any plans to pay any cash dividends in the foreseeable future on our shares being sold in this offering. We currently intend to retain most, if not all, of our available funds and any future earnings to operate and expand our business. The payment of dividends by entities organized in China is subject to limitations. Regulations in the PRC currently permit payment of dividends only out of accumulated profits as determined in accordance with PRC accounting standards and regulations. Each of our Chinese subsidiaries is also required to set aside at least 10% of its after-tax profit based on China's accounting standards each year to its general reserves until the cumulative amount of such reserves reach 50% of its registered capital. These reserves are not distributable as cash dividends. The board of directors of our PRC subsidiaries, each of which is a wholly foreign owned enterprise, has the discretion to allocate a portion of its after-tax profits to its staff welfare and bonus funds, which is likewise not distributable to its equity owners except in the event of a liquidation of the foreign-invested enterprise. If we decide to pay dividends in the future, these restrictions may impede our ability to pay dividends. In addition, if any of these Chinese entities incurs debt on its own behalf in the future, the instruments governing the debt may restrict its ability to pay dividends or make other distributions to us. Our Board of Directors has discretion on whether to pay dividends. Even if our board of directors decides to pay dividends, the form, frequency and amount will depend upon our future operations and earnings, capital requirements and surplus, general financial condition, contractual restrictions and other factors that our board of directors may deem relevant.

**CASH TRANSFERS WITHIN OUR ORGANIZATION**

During each of the fiscal years ended December 31, 2019, 2020 and 2021, as well as during the period from January 1, 2022 through June 30, 2022, the only transfer of assets among Antelope Enterprise and its subsidiaries have consisted of cash. During that same period, there have been no distributions, dividends or loans extended by any of our direct or indirectly held subsidiaries to Antelope Enterprise. During that same period Antelope Enterprise has not declared any dividends or made any distributions to its shareholders.

Antelope Enterprise routinely provides cash to its subsidiaries either by way of capital contribution or by way of loan.

Antelope Enterprise is a holding company incorporated in the British Virgin Islands, and we do not have any substantive operations other than indirectly holding the equity interest in our operating subsidiaries in China. Antelope Enterprise relies on dividends paid by our Hong Kong and Chinese subsidiaries and capital raised from the sale of our securities to satisfy our cash needs. The payment of dividends to Antelope Enterprise by our Chinese subsidiaries is effected by means of dividends by those entities to their Hong Kong direct parent and a redividend by that Hong Kong entity to Antelope Enterprise. Such dividends are effected by resolution of the board of directors of each such entity (after provision for applicable tax obligations).

China is a foreign exchange administration country. Capital injections, cross-border trade and services transactions settled in foreign exchange, overseas financing and profit repatriations are subject to the foreign exchange administration regulations. The Authority dealing with foreign exchange in China is the State Administration of Foreign Exchange (SAFE) and its local branches. A Chinese subsidiary owned by a foreign company must apply for registration of foreign exchange with the SAFE after the issuance of a business license and obtain a foreign exchange registration certificate. When the Chinese subsidiaries apply to repatriate dividends to foreign shareholders, they must submit the application form to SAFE with the proof that such dividends have been subjected to all applicable tax withholding. A Chinese subsidiary can only distribute dividends out of its accumulated profits, which means that any accumulated losses must be more than offset by its profits in other years, including the current year.

The cash transfers within the organization during the above-referenced periods were as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **For The Period From January 1, 2022 through June 30, 2022** | &nbsp;&nbsp; **For The Period From January 1, 2022 through June 30, 2022** | &nbsp;&nbsp; **For The Period From January 1, 2022 through June 30, 2022** | &nbsp;&nbsp; **For The Period From January 1, 2022 through June 30, 2022** | &nbsp;&nbsp; **For The Period From January 1, 2022 through June 30, 2022** | &nbsp;&nbsp; **For The Period From January 1, 2022 through June 30, 2022** |
| &nbsp;&nbsp;**Company (Wire<br> transfer from)** | &nbsp;&nbsp;**Company (Wire<br> transfer to)** | &nbsp;&nbsp;**Amount<br> (RMB)** | &nbsp;&nbsp;**Equivalent to<br> amount (USD)** | &nbsp;&nbsp;**Purpose** | &nbsp;&nbsp;**Asset<br> Type** |
| &nbsp;&nbsp; Success Winner Limited | &nbsp;&nbsp;Antelope Enterprise Holdings Limited | &nbsp;&nbsp;2342235 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;Working capital loan to direct subsidiary | &nbsp;&nbsp;Cash |
|  | &nbsp;&nbsp;Stand Best Creation Limited | &nbsp;&nbsp;6692100 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;Working capital loan to direct subsidiary | &nbsp;&nbsp;Cash |
| &nbsp;&nbsp;Antelope Enterprise (HK) Holdings Limited | &nbsp;&nbsp;Antelope Future (Yangpu) Investment Co., Ltd | &nbsp;&nbsp;1300000 | &nbsp;&nbsp;194259 | &nbsp;&nbsp;Capital injection to direct subsidiary | &nbsp;&nbsp;Cash |
| &nbsp;&nbsp;Antelope Future (Yangpu) Investment Co., Ltd | &nbsp;&nbsp;Antelope Ruicheng Investment (Hainan) Co., Ltd | &nbsp;&nbsp;1290000 | &nbsp;&nbsp;192764 | &nbsp;&nbsp;Capital injection to direct subsidiary | &nbsp;&nbsp;Cash |
| &nbsp;&nbsp;Antelope Ruicheng Investment (Hainan) Co., Ltd | &nbsp;&nbsp;Hainan Kylin Cloud Services Technology Co., Ltd | &nbsp;&nbsp;1275000 | &nbsp;&nbsp;190523 | &nbsp;&nbsp;Capital injection to direct subsidiary | &nbsp;&nbsp;Cash |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**For The Year 2021** | &nbsp;&nbsp;**For The Year 2021** | &nbsp;&nbsp;**For The Year 2021** | &nbsp;&nbsp;**For The Year 2021** | &nbsp;&nbsp;**For The Year 2021** | &nbsp;&nbsp;**For The Year 2021** |
| &nbsp;&nbsp;**Company (Wire <br> transfer from)** | &nbsp;&nbsp;**Company (Wire<br> transfer to)** | &nbsp;&nbsp;**Amount<br> (RMB)** | &nbsp;&nbsp;**Equivalent to<br> amount (USD)** | &nbsp;&nbsp;**Purpose** | &nbsp;&nbsp;**Asset<br> Type** |
| &nbsp;&nbsp;Antelope Enterprise Holdings Limited | &nbsp;&nbsp;Success Winner Limited | &nbsp;&nbsp;22516296 | &nbsp;&nbsp;3480000 | &nbsp;&nbsp;Working capital loan to direct subsidiary | &nbsp;&nbsp;Cash |
|  | &nbsp;&nbsp;Vast Elite Limited | &nbsp;&nbsp;8475962 | &nbsp;&nbsp;1310000 | &nbsp;&nbsp;Working capital loan to direct subsidiary | &nbsp;&nbsp;Cash |
| &nbsp;&nbsp;Success Winner Limited | &nbsp;&nbsp;Antelope Enterprise (HK) Holdings Limited | &nbsp;&nbsp;4852650 | &nbsp;&nbsp;750000 | &nbsp;&nbsp;Working capital loan to direct subsidiary | &nbsp;&nbsp;Cash |
|  | &nbsp;&nbsp;Stand Best Creation Limited | &nbsp;&nbsp;6664306 | &nbsp;&nbsp;1030000 | &nbsp;&nbsp;Working capital loan to direct subsidiary | &nbsp;&nbsp;Cash |
| &nbsp;&nbsp;Antelope Enterprise (HK) Holdings Limited | &nbsp;&nbsp;Antelope Holdings (Chengdu) Co., Ltd | &nbsp;&nbsp;4852650 | &nbsp;&nbsp;750000 | &nbsp;&nbsp;Capital injection to direct subsidiary | &nbsp;&nbsp;Cash |
| &nbsp;&nbsp;Vast Elite Limited | &nbsp;&nbsp;Chengdu Future Talented Management and Consulting Co., Ltd | &nbsp;&nbsp;3235100 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;Capital contribution to direct subsidiary | &nbsp;&nbsp;Cash |
| &nbsp;&nbsp;Jiangxi Hengdali Ceramics Materials Co., Ltd | &nbsp;&nbsp;Jinjiang Hengda Ceramics Co, Ltd | &nbsp;&nbsp;7000000 | &nbsp;&nbsp;1081883 | &nbsp;&nbsp;Loan repayment to direct holding company | &nbsp;&nbsp;Cash |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**For the year 2020** | &nbsp;&nbsp;**For the year 2020** | &nbsp;&nbsp;**For the year 2020** | &nbsp;&nbsp;**For the year 2020** | &nbsp;&nbsp;**For the year 2020** | &nbsp;&nbsp;**For the year 2020** |
| &nbsp;&nbsp;**Company (Wire<br> transfer from)** | &nbsp;&nbsp;**Company (Wire<br> transfer to)** | &nbsp;&nbsp;**Amount<br> (RMB)** | &nbsp;&nbsp;**Equivalent to<br> amount (USD)** | &nbsp;&nbsp;**Purpose** | &nbsp;&nbsp;**Asset<br> type** |
| &nbsp;&nbsp;Antelope Enterprise Holdings Limited | &nbsp;&nbsp;Success Winner Limited | &nbsp;&nbsp;7028476 | &nbsp;&nbsp;1018000 | &nbsp;&nbsp;Working capital loan to direct subsidiary | &nbsp;&nbsp;Cash |
|  | &nbsp;&nbsp;Vast Elite Limited | &nbsp;&nbsp;10013161 | &nbsp;&nbsp;1450300 | &nbsp;&nbsp;Working capital loan to direct subsidiary | &nbsp;&nbsp;Cash |
| &nbsp;&nbsp;Success Winner Limited | &nbsp;&nbsp;Antelope Enterprise (HK) Holdings Limited | &nbsp;&nbsp;3455552 | &nbsp;&nbsp;500500 | &nbsp;&nbsp;Working capital loan to direct subsidiary | &nbsp;&nbsp;Cash |
|  | &nbsp;&nbsp;Stand Best Creation Limited | &nbsp;&nbsp;3935394 | &nbsp;&nbsp;570000 | &nbsp;&nbsp;Working capital loan to direct subsidiary | &nbsp;&nbsp;Cash |
| &nbsp;&nbsp;Antelope Enterprise (HK) Holdings Limited | &nbsp;&nbsp;Success Winner Limited | &nbsp;&nbsp;3452100 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;Return excessed working capital to direct holding company | &nbsp;&nbsp;Cash |
| &nbsp;&nbsp;Vast Elite Limited | &nbsp;&nbsp;Chengdu Future Talented Management and consulting Co., Ltd | &nbsp;&nbsp;696752 | &nbsp;&nbsp;100917 | &nbsp;&nbsp;Capital contribution to direct subsidiary | &nbsp;&nbsp;Cash |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**For the year 2019** | &nbsp;&nbsp;**For the year 2019** | &nbsp;&nbsp;**For the year 2019** | &nbsp;&nbsp;**For the year 2019** | &nbsp;&nbsp;**For the year 2019** | &nbsp;&nbsp;**For the year 2019** |
| &nbsp;&nbsp;**Company (Wire<br> transfer from)** | &nbsp;&nbsp;**Company (Wire<br> transfer to)** | &nbsp;&nbsp;**Amount<br> (RMB)** | &nbsp;&nbsp;**Equivalent to<br> amount (USD)** | &nbsp;&nbsp;**Purpose** | &nbsp;&nbsp;**Asset<br> type** |
| &nbsp;&nbsp;Antelope Enterprise Holdings Limited | &nbsp;&nbsp;Stand Best Creation Limited | &nbsp;&nbsp;7919743 | &nbsp;&nbsp;1146443 | &nbsp;&nbsp;Working capital loan to subsidiary | &nbsp;&nbsp;Cash |
| &nbsp;&nbsp;Stand Best Creation Limited | &nbsp;&nbsp;Success Winner Limited | &nbsp;&nbsp;3476371 | &nbsp;&nbsp;503231 | &nbsp;&nbsp;Working capital loan to direct holding company | &nbsp;&nbsp;Cash |
| &nbsp;&nbsp;Success Winner Limited | &nbsp;&nbsp;Vast Elite Limited | &nbsp;&nbsp;2764622 | &nbsp;&nbsp;400200 | &nbsp;&nbsp;Working capital loan to direct subsidiary | &nbsp;&nbsp;Cash |

---

The enforceability and treatment of the intercompany agreements within our organization, including the intercompany loan agreements described above used in connection with intercompany cash transfers, have not been tested in court. For further information regarding cash transfers within our organization please see our Consolidated Financial Statements for the years ended December 31, 2021, 2020 and 2019, and the information on segment reporting in the notes thereto, located in our Annual Report on Form 20-F for the fiscal year ended December 31, 2021 filed with the SEC on May 2, 2022.

**SELLING SHAREHOLDERS**

This prospectus covers the public resale of the Shares owned by the selling shareholders named below. Such selling shareholders may from time to time offer and sell pursuant to this prospectus any or all of the Shares owned by them. The selling shareholders, however, make no representations that the Shares will be offered for sale. The tables below present information regarding the selling shareholders and the Shares that each such selling shareholder may offer and sell from time to time under this prospectus.

Unless otherwise indicated, all information with respect to ownership of our Shares of the selling shareholders has been furnished by or on behalf of the selling shareholders and is as of January 18, 2023. We believe, based on information supplied by the selling shareholders, that except as may otherwise be indicated in the footnotes to the tables below, the selling shareholders have sole voting and dispositive power with respect to the Shares reported as beneficially owned by them. Because the selling shareholders identified in the tables may sell some or all of the Shares owned by them which are included in this prospectus, and because, except as set forth herein, there are currently no agreements, arrangements or understandings with respect to the sale of any of the Shares, no estimate can be given as to the number of Shares available for resale hereby that will be held by the selling shareholders upon termination of this offering. In addition, the selling shareholders may have sold, transferred or otherwise disposed of, or may sell, transfer or otherwise dispose of, at any time and from time to time, the Shares they hold in transactions exempt from the registration requirements of the Securities Act after the date on which they provided the information set forth on the table below. We have, therefore, assumed for the purposes of the following table, that the selling shareholders will sell all of the Shares owned beneficially by them that are covered by this prospectus, but will not sell any other Ordinary Shares that they presently own. However, we are not aware of any agreements, arrangements or understandings with respect to the sale of any of the Shares by any of the selling shareholders. Beneficial ownership for the purposes of this table is determined in accordance with the rules and regulations of the SEC. These rules generally provide that a person is the beneficial owner of securities if such person has or shares the power to vote or direct the voting thereof, or to dispose or direct the disposition thereof or has the right to acquire such powers within 60 days.

The selling shareholders and intermediaries through whom such securities are sold may be deemed "underwriters" within the meaning of the Securities Act with respect to the Shares offered by this prospectus, and any profits realized or commissions received may be deemed underwriting compensation. Additional selling shareholders not named in this prospectus will not be able to use this prospectus for resales until they are named in the tables above by prospectus supplement or post-effective amendment. Transferees, successors and donees of identified selling shareholders will not be able to use this prospectus for resales until they are named in the tables above by prospectus supplement or post-effective amendment. If required, we will add transferees, successors and donees by prospectus supplement in instances where the transferee, successor or donee has acquired its Shares from holders named in this prospectus after the effective date of this prospectus.

The following table sets forth:

· the name of each selling shareholder holding Shares;

· the number of Shares beneficially owned by each selling shareholder prior to the sale of the Shares covered by this prospectus;

· the number of Shares that may be offered by each selling shareholder pursuant to this prospectus;

· the number of Shares to be beneficially owned by each selling shareholder following the sale of the Shares covered by this prospectus; and

· the percentage of our issued and outstanding Shares to be owned by each selling shareholder before and after the sale of the Shares covered by this prospectus.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name of Selling Shareholder** | **Number of<br> Shares<br> Beneficially<br> Owned<br> Prior to this<br> Offering** | **Maximum Number of<br> Shares<br> to be Sold <br> Pursuant to<br> this<br> Prospectus** | **Number of<br> Shares<br> Beneficially<br> Owned<br> After Sale<br> of Shares** | **% of<br> Outstanding<br> Shares<br> Beneficially<br> Owned<br> After Sale<br> of Shares** |
| Dawson James Securities, Inc. <sup>(1)</sup> | 373563 | 89167 | 284396 | 1.90% |
| Intracoastal Capital, LLC <sup>(2)</sup> | 1156068 | 555555 | 600513 | 4.03% |
| R. Douglas Armstrong <sup>(3)</sup> | 96708 | 23750 | 72958 | \* |
| Robert D. Keyser, Jr. <sup>(4)</sup> | 1581383 | 1296987 | 284396 | 1.90% |
| Sixth Borough Capital Fund LP <sup>(5)</sup> | 1111112 | 1111112 | 0 | - |

---

\* Less than 1%

(1) The total number of shares reflects (i) 89,167 ordinary shares issuable upon exercise of the Investor Warrants held by Dawson James Securities, Inc. ("Dawson James") and (ii) 284,396 ordinary shares issuable upon exericise of the warrants held by Dawson James. Mr. Robert D. Keyser, Jr. is the CEO of Dawson James and has the voting control and investment discretion over the securities reported herein that are held by Dawson James. The address of Dawson James is 101 N Federal Hwy, Suite 600, Boca Raton, FL, 33432

(2) Mitchell P. Kopin ("Mr. Kopin") and Daniel B. Asher ("Mr. Asher"), each of whom are managers of Intracoastal Capital LLC ("Intracoastal"), have shared voting control and investment discretion over the securities reported herein that are held by Intracoastal. As a result, each of Mr. Kopin and Mr. Asher may be deemed to have beneficial ownership (as determined under Section 13(d) of the Securities Exchange Act of 1934, as amended of the securities reported herein that are held by Intracoastal. The address of the selling shareholder is 245 Palm Trail, Delray Beach, FL 33483.

(3) The total number of shares reflects (i) 23,750 ordinary shares issuable upon exercise of the Placement Agent Warrants held by R. Douglas Armstrong ("Mr. Armstrong") and (ii) 72,958 ordinary shares issuable upon exericise of the warrants held by Mr. Armstrong. The address of the selling shareholder is is 570 Ocean Dr., Apt 201, Juno Beach, FL, 33408.

(4) The total number of shares reflects (i) 23,750 ordinary shares issuable upon exercise of the Placement Agent Warrants held by Mr. Robert D. Keyser, Jr. (Mr. Keyser"), (ii) 72,958 ordinary shares issuable upon exericise of the warrants held by Mr. Keyser, (iii) 373,563 ordinary shares issuable upon exercise of the warrants held by Dawson James, of which Mr. Keyser has sole dispositive voting power, (iv) 1,111,112 ordinary shares issuable upon exercise of the Investor Warrants held by by Sixth Borough Capital Fund LP ("Six Borough"), of which Mr. Keyser has sole dispositive voting. Mr. Keyser's address is 2973 NE 7th Dr, Boca Raton, FL, 33431.

(1) Sixth Borough holds 1,111,112 ordinary shares issuable upon exercise of the Investor Warrants. Mr. Robert D. Keyser, Jr. is the CEO of Sixth Borough and has the voting control and investment discretion over the securities reported herein that are held by Six Borough. The address of the selling shareholder is 1515 N. Federal Highway, Suite 300, Boca Raton, FL 33432.

**PLAN OF DISTRIBUTION**

The selling shareholders, which as used herein includes donees, pledgees, transferees or other successors-in-interest selling Shares or interests in Shares received after the date of this prospectus from a selling shareholder as a gift, pledge, partnership distribution or other transfer, may, from time to time, sell, transfer or otherwise dispose of any or all of the Shares on any stock exchange, market or trading facility on which the Shares are traded or in private transactions. These dispositions may be at fixed prices, at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at negotiated prices.

The selling shareholders may use any one or more of the following methods when disposing of Shares:

· ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

· block trades in which the broker-dealer will attempt to sell the Shares as agent, but may position and resell a portion of the block as principal to facilitate the transaction;

· purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

· an exchange distribution in accordance with the rules of the applicable exchange;

· privately negotiated transactions;

· short sales effected after the date the registration statement of which this prospectus is a part is declared effective by the SEC;

· through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;

· broker-dealers may agree with the selling shareholders to sell a specified number of such Shares at a stipulated price per share;

· a combination of any such methods of sale; and

· any other method permitted by applicable law.

The selling shareholders may, from time to time, pledge or grant a security interest in some or all of the Shares owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the Shares, from time to time, under this prospectus, or under an amendment to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act amending the list of selling shareholders to include the pledgee, transferee or other successors in interest as selling shareholders under this prospectus. The selling shareholders also may transfer the Shares in other circumstances, in which case the transferees, pledgees or other successors in interest will be the selling beneficial owners for purposes of this prospectus.

In connection with the sale of their Shares or interests therein, the selling shareholders may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of such Shares in the course of hedging the positions they assume. The selling shareholders may also sell Shares short and deliver these securities to close out their short positions, or loan or pledge the Shares to broker-dealers that in turn may sell these securities. The selling shareholders may also enter into option or other transactions with broker-dealers or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of the Shares offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).

The aggregate proceeds to the selling shareholders from the sale of the Shares offered by them will be the purchase price of such Shares less discounts or commissions, if any. Each of the selling shareholders reserves the right to accept and, together with their agents from time to time, to reject, in whole or in part, any proposed purchase of ordinary shares to be made directly or through agents. We will not receive any of the proceeds from the resale of the Shares.

The selling shareholders also may resell all or a portion of their Ordinary Shares in open market transactions in reliance upon Rule 144 under the Securities Act, provided that they meet the criteria and conform to the requirements of that rule.

The selling shareholders and any underwriters, broker-dealers or agents that participate in the sale of the Shares therein may be "underwriters" within the meaning of Section 2(11) of the Securities Act. Any discounts, commissions, concessions or profit they earn on any resale of the Ordinary Shares may be underwriting discounts and commissions under the Securities Act. Selling shareholders who are "underwriters" within the meaning of Section 2(11) of the Securities Act will be subject to the prospectus delivery requirements of the Securities Act.

To the extent required, the Shares to be sold, the names of the selling shareholders, the respective purchase prices and public offering prices, the names of any agents, dealer or underwriter, any applicable commissions or discounts with respect to a particular offer will be set forth in an accompanying prospectus supplement or, if appropriate, a post-effective amendment to the registration statement that includes this prospectus.

In order to comply with the securities laws of some states, if applicable, the Shares may be sold in these jurisdictions only through registered or licensed brokers or dealers. In addition, in some states the Shares may not be sold unless it has been registered or qualified for sale or an exemption from registration or qualification requirements is available and is complied with.

We have advised the selling shareholders that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of Shares in the market and to the activities of the selling shareholders and their affiliates. In addition, to the extent applicable, we will make copies of this prospectus (as it may be supplemented or amended from time to time) available to the selling shareholders for the purpose of satisfying the prospectus delivery requirements of the Securities Act. The selling shareholders may indemnify any broker-dealer that participates in transactions involving the sale of the Shares against certain liabilities, including liabilities arising under the Securities Act. We have agreed to indemnify the selling shareholders against liabilities, including liabilities under the Securities Act and state securities laws, relating to the registration of the Ordinary Shares offered by this prospectus.

**EXPENSES**

We estimate the fees and expenses to be incurred by us in connection with the resale of the ordinary shares in this offering, other than underwriting discounts and commissions, to be as follows:

---

| | |
|:---|:---|
| SEC registration fee | $165 |
| Legal fees and expenses | $25000 |
| Accounting fees and expenses | $5000 |
| Miscellaneous expenses | $2000 |
| **Total** | $32165 |

---

All amounts are estimated except the SEC registration fee.

**LEGAL MATTERS**

We are being represented by Hunter Taubman Fisher & Li LLC, New York, NY with respect to legal matters arising under the United States federal securities laws. The validity of the shares offered in this offering and legal matters as to British Virgin Islands law will be passed upon for us by Harney Westwood & Riegels.

**EXPERTS**

The financial statements incorporated by reference in this prospectus have been audited by Centurion ZD CPA & Co., our independent registered public accounting firm, and are included in reliance upon such reports given upon the authority of said firm as experts in auditing and accounting.

**WHERE YOU CAN FIND MORE INFORMATION**

For the purposes of this section, the term registration statement means the original registration statement and any and all amendments including the schedules and exhibits to the original registration statement or any amendment. This prospectus does not contain all of the information included in the registration statement we filed. For further information regarding us and the Shares offered in this prospectus, you may desire to review the full registration statement, including the exhibits. You may obtain information on the operation of the public reference room by calling 1-202-551-8090. Copies of such materials are also available by mail from the Public Reference Branch of the SEC at 100 F Street, N.E., Washington, D.C. 20549 at prescribed rates. In addition, the SEC maintains a website (*http://www.sec.gov*) from which interested persons can electronically access the registration statement, including the exhibits and schedules to the registration statement.

We are subject to the reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act") that are applicable to a foreign private issuer. In accordance with the Exchange Act, we file reports with the SEC, including annual reports on Form 20-F. We also furnish to the SEC under cover of Form 6-K material information required to be made public in the British Virgin Islands, filed with and made public by any stock exchange or automated quotation system or distributed by us to our shareholders. As a foreign private issuer, we are exempt from the rules under the Exchange Act prescribing the furnishing and content of proxy statements to shareholders. In addition, our officers, directors and principal shareholders are exempt from the "short-swing profits" reporting and liability provisions contained in Section 16 of the Exchange Act and related Exchange Act rules.

**INCORPORATION OF CERTAIN INFORMATION BY REFERENCE**

The SEC allows us to "incorporate by reference" the information we file with them. This means that we can disclose important information to you by referring you to those documents. Each document incorporated by reference is current only as of the date of such document, and the incorporation by reference of such documents should not create any implication that there has been no change in our affairs since the date thereof or that the information contained therein is current as of any time subsequent to its date. The information incorporated by reference is considered to be a part of this prospectus and should be read with the same care. When we update the information contained in documents that have been incorporated by reference by making future filings with the SEC, the information incorporated by reference in this prospectus is considered to be automatically updated and superseded. In other words, in the case of a conflict or inconsistency between information contained in this prospectus and information incorporated by reference into this prospectus, you should rely on the information contained in the document that was filed later.

We incorporate by reference the documents listed below:

· [our Annual Report on Form 20-F for the fiscal year ended December 31, 2021 filed with the SEC on May 2, 2022; and](https://www.sec.gov/Archives/edgar/data/1470683/000141057822001114/aehl-20211231x20f.htm)

· the Company's
 Current Reports on Form 6-K, as amended, filed with the SEC on [June 24, 2022](https://www.sec.gov/Archives/edgar/data/1470683/000110465922074334/tm2219340d1_6k.htm) , [July 26, 2022](https://www.sec.gov/Archives/edgar/data/1470683/000110465922082693/tm2221803d1_6k.htm) , [September 14, 2022](https://www.sec.gov/Archives/edgar/data/1470683/000110465922099764/tm2225828-1_6k.htm) , [September 20, 2022](https://www.sec.gov/Archives/edgar/data/1470683/000110465922101243/tm2225857-2_6k.htm) , [September 26, 2022](https://www.sec.gov/Archives/edgar/data/1470683/000110465922102915/tm2226651d1_6k.htm) , [September 29, 2022](https://www.sec.gov/Archives/edgar/data/1470683/000141057822002826/aehl-20220630x6k.htm) , [September 30, 2022](https://www.sec.gov/Archives/edgar/data/1470683/000110465922104227/tm2226987d1_6k.htm) , [October 5, 2022](https://www.sec.gov/Archives/edgar/data/1470683/000110465922106247/tm2227365d1_6k.htm) , [October 11, 2022](https://www.sec.gov/Archives/edgar/data/1470683/000110465922107474/tm2227966d1_6k.htm) , [October 19, 2022](https://www.sec.gov/Archives/edgar/data/1470683/000110465922109862/tm2228452d1_6k.htm) , [November 3, 2022](https://www.sec.gov/Archives/edgar/data/1470683/000110465922114218/tm2229448d1_6k.htm) , [December 1, 2022](https://www.sec.gov/Archives/edgar/data/1470683/000110465922123478/tm2231541d1_6k.htm) , [December 13, 2022](https://www.sec.gov/Archives/edgar/data/1470683/000110465922126684/tm2232403d1_6k.htm) , [January 5, 2023](https://www.sec.gov/Archives/edgar/data/1470683/000110465923001229/tm231525d1_6k.htm) , [January 5, 2023](https://www.sec.gov/Archives/edgar/data/1470683/000110465923001487/tm231723d1_6k.htm) , [January 12, 2023](https://www.sec.gov/Archives/edgar/data/1470683/000110465923003257/tm233182d1_6k.htm) , [January 17, 2023](https://www.sec.gov/Archives/edgar/data/1470683/000110465923004079/tm233544d1_6k.htm) .

Unless expressly incorporated by reference, nothing in this prospectus shall be deemed to incorporate by reference information furnished to, but not filed with, the SEC. We will provide to each person, including any beneficial owner, who receives a copy of this prospectus, upon written or oral request, without charge, a copy of any or all of the documents we refer to above which we have incorporated by reference in this prospectus, except for exhibits to such documents unless the exhibits are specifically incorporated by reference into this prospectus. You should direct your requests to the attention of our chief financial officer at our principal executive office located in Room 1802, Block D, Zhonghai International Center, Hi-Tech Zone, Chengdu, Sichuan, PRC. Our telephone number at this address is +86 (28) 8532 4355.

You should rely only on the information contained or incorporated by reference in this prospectus, in any applicable prospectus supplement or any related free writing prospectus that we may authorize to be delivered to you. We have not authorized any other person to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely on it. We will not make an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should assume that the information appearing in this prospectus, the applicable supplement to this prospectus or in any related free writing prospectus is accurate as of its respective date, and that any information incorporated by reference is accurate only as of the date of the document incorporated by reference, unless we indicate otherwise. Our business, financial condition, results of operations and prospects may have changed since those dates.

**ENFORCEABILITY OF CIVIL LIABILITIES**

Many of our officers and directors, and some of the experts named in this prospectus, are residents of PRC or elsewhere outside of the U.S., and all of our assets and the assets of such persons are located outside the U.S. As a result, it may be difficult for investors in the U.S. to effect service of process within the U.S. upon such directors, officers and representatives of experts who are not residents of the U.S. or to enforce against them judgments of a U.S. court predicated solely upon civil liability under U.S. federal securities laws or the securities laws of any state within the U.S.

Substantially all of our operations and records, and most of our senior management are located in the PRC. Our shareholders have limited ability to assert and collect on claims in litigation against us and our principals. In addition, corporate organization and structure could further impede the ability of a person to prove a claim or collect on a judgment against the Company. Finally, China has very restrictive secrecy laws that prohibit the delivery of many of the financial records maintained by a business located in China to third parties absent Chinese government approval. Since discovery is an important part of proving a claim in litigation, and since most if not all of the Company's records are in China, Chinese secrecy laws could frustrate efforts to prove a claim against the Company or its management. In order to commence litigation in the United States against an individual such as an officer or director, that individual must be served. While directors and officers of a Delaware corporation are routinely served for purposes of a suit against them in Delaware for breach of fiduciary duty and there are means of serving individuals who reside outside the United States in other litigation, generally service requires the cooperation of the country in which a defendant resides. China has a history of failing to cooperate in efforts to effect such service upon Chinese citizens in China. These and other similar PRC laws and regulations could substantially impair our shareholders abilities to investigate and prosecute claims against our Company, our officers and our directors.

**DISCLOSURE OF COMMISSION POSITION ON INDEMNIFICATION FOR SECURITIES ACT LIABILITIES**

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the ordinary shares being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.

**Prospectus**

**1,833,334 ordinary shares**

 **issuable upon exercise of outstanding warrants sold in private placements,**

 **offered by the Selling Shareholders**

 **of**

**Antelope Enterprise Holdings, Ltd.**

------

**PROSPECTUS**

------

[·], 2023

**You should rely only on the information contained in this prospectus. No dealer, salesperson or other person is authorized to give information that is not contained in this prospectus. This prospectus is not an offer to sell nor is it seeking an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. The information contained in this prospectus is correct only as of the date of this prospectus, regardless of the time of the delivery of this prospectus or the sale of these securities.**

**PART II**

**INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 8.** **Indemnification of Directors and Officers**

British Virgin Islands law does limit the extent to which a company's memorandum and articles of association may provide for indemnification of officers and directors. The Company's memorandum and articles of association provides for indemnification of its officers and directors for any liability incurred in their capacities as such, except through their own fraud or willful default to the extent permitted under BVI law. Indemnification is only available to a person who acted in good faith and in what that person believed to be in the best interests of the Company.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the Company pursuant to the foregoing provisions, the Company has been informed that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is theretofore unenforceable.

**Item 9.** **Exhibits**

---

| | |
|:---|:---|
| **Exhibit** | **Title** |
| [4.1](https://www.sec.gov/Archives/edgar/data/1470683/000110465922106247/tm2227365d1_ex10-2.htm) | [Form of Warrant (1)](https://www.sec.gov/Archives/edgar/data/1470683/000110465922106247/tm2227365d1_ex10-2.htm) |
| [5.1\*](tm235486d1_ex5-1.htm) | [Opinion of Harney Westwood & Riegels](tm235486d1_ex5-1.htm) |
| [10.1](https://www.sec.gov/Archives/edgar/data/1470683/000110465922106247/tm2227365d1_ex10-1.htm) | [Form of Securities Purchase Agreement (2)](https://www.sec.gov/Archives/edgar/data/1470683/000110465922106247/tm2227365d1_ex10-1.htm) |
| [23.1\*](tm235486d1_ex23-1.htm) | [Consent of Centurion ZD CPA & Co.](tm235486d1_ex23-1.htm) |
| [23.2\*](tm235486d1_ex5-1.htm) | [Consent of Harney Westwood & Riegels (included in Exhibit 5.1)](tm235486d1_ex5-1.htm) |
| [24.1\*](#a_019) | [Power of Attorney (included as part of the signature page of this Registration Statement)](#a_019) |
| [107\*](tm235486d1_ex-filingfees.htm) | [Calculation of Filing Fee Table](tm235486d1_ex-filingfees.htm) |

---

(1) Incorporated by reference
from the exhibit of the exhibit 10.2 filed with the Company's Form 6-K, filed with the SEC on October 5, 2022.

(2) Incorporated by reference from the exhibit of the exhibit 10.1 filed with the Company's Form 6-K, filed with the SEC on October 5, 2022.

**Item 10.** **Undertakings**

(a) The undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;(1) to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;

&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement;

&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;

*Provided*, *however*, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) of this section do not apply if the information otherwise required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.

(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(4) To file a post-effective amendment to the registration statement to include any financial statements required by Item 8.A. of Form 20-F at the start of any delayed offering or throughout a continuous offering; provided, however, that a post-effective amendment need not be filed to include financial statements and information otherwise required by Section 10(a)(3) of the Act or §210.3-19 if such financial statements and information are contained in periodic reports filed with or furnished to the SEC by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this registration statement.

(5) That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:

(i) If the registrant is relying on Rule 430B:

(A) Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and

(B) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof. *Provided*, *however*, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date; or

(ii) If the registrant is subject to Rule 430C, each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. *Provided*, *however*, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.

(6) That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities:

The undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424; (ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant; (iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and (iv) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

(d) The undersigned registrant hereby further undertakes that:

(1) For purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or (4), or 497(h) under the Securities Act of 1933 shall be deemed to be part of this registration statement as of the time it was declared effective.

(2) For the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-3 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunder duly authorized, in the City of Jinjiang, Fujian Province, PRC on February 7, 2023.

---

| | |
|:---|:---|
| **Antelope Enterprise Holdings Ltd.** | **Antelope Enterprise Holdings Ltd.** |
| By: | /s/ Weilai (Will) Zhang |
|  | Weilai (Will) Zhang |
|  | Chief Executive Officer |

---

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Weilai (Will) Zhang | Chief Executive Officer | February 7, 2023 |
|  | (Principal Executive Officer and Director) |  |
| /s/ Hen Man Edmund | Chief Financial Officer | February 7, 2023 |
|  | (Principal Financial Officer and <br> Principal Accounting Officer) |  |
| /s/ Meishuang Huang\* | Director | February 7, 2023 |
| /s/ Tingting Zhang\* | Director | February 7, 2023 |
| /s/ Song Chungen\* | Director | February 7, 2023 |
| /s/ Dian Zhang\* | Director | February 7, 2023 |
| /s/ Qiguo Wang\* | Director | February 7, 2023 |
| /s/ Ishak Han\* | Director | February 7, 2023 |
| /s/ Shen Cheng Liang\* | Director | February 7, 2023 |
| \*By: /s/ Hen Man Edmund | Attorney & Agent-In-Fact | February 7, 2023 |
| Hen Man Edmund |  |  |

---

**<br> SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES**

Pursuant to the Securities Act of 1933 as amended, the undersigned, the duly authorized representative in the United States of America, has signed this registration statement thereto in Newark, DE on February 7, 2023

---

| | | |
|:---|:---|:---|
| **Puglisi & Associates** | **Puglisi & Associates** | **Puglisi & Associates** |
| By: | /s/ Donald J. Puglisi | /s/ Donald J. Puglisi |
|  | Name: | Donald J. Puglisi |
|  | Title: | Managing Director |

---

## Exhibit 5.1

Exhibit 5.1

---

| | |
|:---|:---|
| ![](image_003.jpg) | Harney Westwood & Riegels LP<br> Craigmuir Chambers<br> PO Box 71<br> Road Town<br> Tortola VG1110<br> British Virgin Islands<br> Tel: +1 284 494 2233<br> Fax: +1 284 494 3547 |

---

7 February 2023

greg.boyd@harneys.com

+1 284 852 4317

043011.0044-GAB-MTT

Antelope Enterprise Holdings Limited

Junbing Industrial Zone

Anhai

Jinjiang City

Fujian Province

People's Republic of China

Dear Sir or Madam

**Antelope Enterprise Holdings Limited, Company No 1542549 (the Company)**

We are lawyers qualified to practise in the British Virgin Islands and have acted as British Virgin Islands legal advisers to the Company in connection with the Company's registration statement on Form F-3 and accompanying prospectus (as updated) and registered with the Securities and Exchange Commission (the ***Commission***) on or around the date of this opinion under the United States Securities Act of 1933, as amended (the ***Securities Act***)(the ***Registration Statement***). The Registration Statement relates to the offer and sale of up to 1,666,667 ordinary shares, par value $0.024 each of the Company that are issuable upon the exercise of certain warrants at an exercise price of $0.80 per share (the ***Investor Warrants***) and 166,667 ordinary shares of the Company that are issuable upon the exercise of certain warrants at an exercise price of $0.72 per share (the ***Placement Agent Warrants***, together with the Investor Warrants, the ***Warrants***). The shares issuable upon exercise of such Warrants may be offered for public resale from time to time by the selling shareholders. The prospectus within the Registration Statement relates to the registration of the public resale by the selling shareholders named therein (the ***Selling Shareholders***) of up to 1,833,334 ordinary shares, par value $0.024 each, issuable upon the exercise of outstanding Warrants sold in private placements, offered by the Selling Shareholders. Each of the Warrants is, in accordance with its terms, exercisable by the respective Selling Shareholder at an exercise price of $0.80 per ordinary share with regards to the Investor Warrants and $0.72 per ordinary share with regards to the Placement Agent Warrants (the ***Exercise Price***) for the issue by the Company to that Selling Shareholder of one ordinary share (the ***Warrant Shares***).

We are furnishing this opinion as Exhibit 5.1 to the Registration Statement.

For the purposes of giving this opinion, we have examined the Corporate Documents (as defined in Schedule 1), which we regard as necessary in order to issue this opinion. We have not undertaken or been instructed to undertake any further enquiry or due diligence in relation to the transaction which is the subject of this opinion or in relation to any British Virgin Islands companies other than the Company (including those British Virgin Islands companies, other than the Company, referenced in the Registration Statement).

---

| | |
|:---|:---|
| A list of partners is available for inspection at our offices.<br> Bermuda legal services provided through an association with Zuill & Co.<br> VG:24473061_3 | Anguilla \| Bermuda \| British Virgin Islands \| Cayman Islands<br> Cyprus \| Hong Kong \| London \| Luxembourg \| Montevideo<br> São Paulo \| Shanghai \| Singapore \| Vancouver<br> www.harneys.com |

---

In giving this opinion we have relied upon the assumptions set out in Schedule 2 which we have not verified.

Based solely upon the foregoing examinations and assumptions and having regard to the legal considerations and documents which we regard as necessary in order to issue this opinion, and subject to the qualifications set out in Schedule 3, we are of the opinion that under the laws of the British Virgin Islands:

---

| | |
|:---|:---|
| 1 | **Existence and Good Standing**. The Company is a company duly incorporated with limited liability, and is validly existing and in good standing under the laws of the British Virgin Islands. The Company is a separate legal entity and is subject to suit in its own name. |

---

---

| | |
|:---|:---|
| 2 | Valid Issuance of Shares. Upon (i) the valid exercise of a Warrant by the respective Selling Shareholder, and (ii) the payment of the Exercise Price by that Selling Shareholder to the Company, the Warrant Share issued by the Company under the respective Warrant to that Selling Shareholder will be validly issued, fully paid and non-assessable (meaning that no further sums will be payable with respect them). Shares in the Company are issued when the name of the shareholder is entered on the register of members of the Company. |

---

3 No actions/proceedings. The Public Searches do not show any pending action or court proceedings against the Company at the time of our search referred to at paragraph 4 of Schedule 1.

This opinion is confined to the matters expressly opined on herein and given on the basis of the laws of the British Virgin Islands as they are in force and applied by the British Virgin Islands courts at the date of this opinion. We have made no investigation of, and express no opinion on, the laws of any other jurisdiction. We express no opinion as to matters of fact. We express no opinion with respect to the commercial terms of the transactions the subject of this opinion.

In connection with the above opinion, we hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference made to this firm in the Registration Statement under the headings "Enforceability of Civil Liabilities" and "Legal Matters" and elsewhere in the prospectus included in the Registration Statement.

This opinion may be used only in connection with the offer and sale of the Shares while the Registration Statement is effective.

---

| |
|:---|
| Yours faithfully |
| ![](image_004.jpg) |
| **Harney Westwood & Riegels LP** |

---

**Schedule 1** 

List of Documents and Records Examined

1 a copy of the Certificate of Incorporation and Memorandum and Articles of Association of the Company obtained from the Registry of Corporate Affairs on 6 February 2023;

---

| | |
|:---|:---|
| 2 | the records and information certified by Harneys Corporate Services Limited, the registered agent of the Company, on 7 February 2023 of the statutory documents and records maintained by the Company at its registered office (the ***Registered Agent's Certificate***); |

---

3 a certificate of good standing issued by the Registrar of Corporate Affairs with respect to the Company dated 3 February 2023;

4 the public records of the Company on file and available for inspection at the Registry of Corporate Affairs, Road Town, Tortola, British Virgin Islands on 6 February 2023;

5 the records of proceedings on file with, and available for inspection on 6 February 2023 at the High Court of Justice, British Virgin Islands;

(4 to 5 above are the ***Public Searches***)

---

| | |
|:---|:---|
| 6 | a copy of the unanimous written resolutions of the board of directors of the Company dated 6 February 2023 approving the filing of the Registration Statement and authorising issue of the Shares (the ***Resolutions***); and |

---

7 the Registration Statement,

(1 to 5 above are the ***Corporate Documents***).

**Schedule 2** 

Assumptions

---

| | |
|:---|:---|
| 1 | **Authenticity of Documents.** All original Corporate Documents are authentic, all signatures, initials and seals are genuine, all copies of the Registration Statement are true and correct copies and the Registration Statement conform in every material respect to the latest drafts of the same produced to us and, where the Registration Statement has been provided to us in successive drafts marked-up to indicate changes to such documents, all such changes have been so indicated. |

---

---

| | |
|:---|:---|
| 2 | **Corporate Documents.** All matters required by law to be recorded in the Corporate Documents are so recorded, and all corporate minutes, resolutions, certificates, documents and records which we have reviewed are accurate and complete, and all facts expressed in or implied thereby are accurate and complete, and the information recorded in the Registered Agent's Certificate was accurate as at the date of the passing of the Resolutions. |

---

---

| | |
|:---|:---|
| 3 | **No Steps to Wind-up**. Save for as recorded on the Public Searches reviewed by us, the directors and shareholders of the Company have not taken any steps to appoint a liquidator of the Company and no receiver has been appointed over any of the property or assets of the Company. |

---

**Schedule 3** 

Qualifications

---

| | |
|:---|:---|
| 1 | **Public Records.** Records reviewed by us may not be complete for various reasons. In particular you should note that: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in special circumstances the court may order the sealing of the court record, which would mean that a
record of the court action would not appear on the High Court register;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) failure to file notice of appointment of a receiver with the Registry of Corporate Affairs does not invalidate
the receivership but merely gives rise to penalties on the part of the receiver;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) a liquidator of a British Virgin Islands company has 14 days after their appointment within which they
must file notice of their appointment at the Registry of Corporate Affairs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) although amendments to the Memorandum and Articles of Association of a company are normally effective
from the date of registration with the Registry of Corporate Affairs, it is possible for a British Virgin Islands court to order that
they be treated as being effective from an earlier date, and searches would not reveal the amendments until the court order was subsequently
filed,

and accordingly our searches would not indicate such issues.

---

| | |
|:---|:---|
| 2 | **Foreign Statutes.** We express no opinion in relation to provisions making reference to foreign statutes in the Registration Statement. |

---

---

| | |
|:---|:---|
| 3 | **Amendment.** A British Virgin Islands court would not treat as definitive a statement in a contract that it could only be amended or waived in writing but would be able to consider all the facts of the case particularly where consideration had passed to determine whether a verbal amendment or waiver had been effected and if it found that it had such verbal amendment or waiver would be deemed to have also amended the stated requirement for a written agreement. |

---

---

| | |
|:---|:---|
| 4 | **Good Standing.** To maintain the Company in good standing under the laws of the British Virgin Islands, annual licence fees must be paid to the Registrar of Corporate Affairs. |

---

---

| | |
|:---|:---|
| 5 | **Conflict of Laws.** An expression of an opinion on a matter of British Virgin Islands law in relation to a particular issue in this opinion should not necessarily be construed to imply that the British Virgin Islands courts would treat British Virgin Islands law as the proper law to determine that issue under its conflict of laws rules. |

---

---

| | |
|:---|:---|
| 6 | **Sanctions**. The obligations of the Company may be subject to restrictions pursuant to United Nations and European Union sanctions as implemented under the laws of the British Virgin Islands. |

---

---

| | |
|:---|:---|
| 7 | **Economic Substance.** We have undertaken no enquiry and express no view as to the compliance of the Company with the Economic Substance (Companies and Limited Partnerships) Act 2018. |

---

## Exhibit 23.1

---

| | |
|:---|:---|
| ![](image_001.jpg) | 中正達會計師事務所<br> Centurion ZD CPA & Co.<br> Certified Public Accountants (Practising) |

---

Unit 1304, 13/F., Two Harbourfront, 22 Tak Fung Street, Hunghom, Hong Kong

香港紅磡德豐街 22 號海濱廣場二期 13 樓 1304 室

Tel : (852) 2126 2388 Fax: (852) 2122 9078

Exhibit 23.1

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We hereby consent to the incorporation by reference in the Registration Statement on Form F-3 of Antelope Enterprise Holdings Ltd. and its subsidiaries (collectively, the "Company") dated February 7, 2023 of our report dated April 29, 2022 included in its Annual Report on Form 20-F relating to the consolidated statements of financial position of the Company as of December 31, 2021 and 2020, and the related consolidated statements of comprehensive income (loss), changes in equity and cash flows for each of the years in the three-year period ended December 31, 2021.

We also consent to the reference of our Firm under the caption "Experts" in such Registration Statement.

/s/ Centurion ZD CPA & Co.

Centurion ZD CPA & Co. Hong Kong, China

February 7, 2023

PCAOB ID: 2769

## Ex-Filing

**Exhibit 107**

**Calculation of Filing Fee Tables**

**F-3** ****<br> (Form Type)

Antelope Enterprise Holdings Limited

(Exact Name of Registrant as Specified in its Charter)

**Table 1: Newly Registered and Carry Forward Securities**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Security Type** | **Security<br> Class<br> Title** | **Fee<br> Calculation<br> or Carry<br> Forward Rule** | **Amount<br> Registered** | **Proposed<br> Maximum<br> Offering Price<br> Per Unit** | **Maximum<br> Aggregate<br> Offering Price** | **Fee Rate** | **Amount of<br> Registration Fee** | **Carry<br> Forward<br> Form Type** | **Carry<br> Forward<br> File Number** | **Carry<br> Forward<br> Initial<br> effective date** | **Filing Fee<br> Previously Paid<br> In Connection<br> with Unsold<br> Securities<br> to be Carried<br> Forward** |
| **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** |
| Fees to Be Paid | Equity | Ordinary Shares underlying the Investor Warrants | 457(o) | 1666667<sup>(1)</sup> | $0.80<sup>(3)</sup> | $1333333.6 | .0001102 | $146.93 |  |  |  |  |
| Fees to Be Paid | Equity | Ordinary Shares underlying the Placement Agent Warrants | 457(o) | 166667<sup>(2)</sup> | $0.75<sup>(3)</sup> | $125000.25 | .0001102 | $13.78 |  |  |  |  |
| **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** |
| Carry Forward Securities |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | $1458333.85 |  | $160.71 |  |  |  |  |
|  | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** |  |  | $0 |  |  |  |  |
|  | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** |  |  | $- |  |  |  |  |
|  | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  | $160.71 |  |  |  |  |

---

<sup>(1)</sup> Represents up to 1,666,667 ordinary shares of the registrant, $0.024 par value per share, issuable upon the exercise of certain ordinary share purchase warrants at an exercise price of $0.80 per share, which were issued to certain investors as identified in the "Selling Shareholders" section in this registration statement in connection with a private placement that closed in October 2022 (the "Investor Warrants").

<sup>(2)</sup> Represents up to 166,667 ordinary shares, issuable upon the exercise of certain ordinary share purchase warrants at an exercise price of $0.75 per share, which were issued to certain investors as identified in the "Selling Shareholders" section in this registration statement in connection with a private placement that closed in October 2022 (the "Placement Agent Warrants").

<sup>(3)</sup> Calculated pursuant to Rule 457(g) under the Securities Act, based on the exercise price of the warrants.