Antelope Enterprise Posts Narrower Loss In H1 - Quick Facts

(RTTNews) - Antelope Enterprise Holdings Limited (AEHL) reported a narrower net loss for the six months ended June 30, 2021 mainly due to the decrease in bad debt expense, which was partially offset by an increase in gross loss and an increase in administrative expenses. Looking forward, the company said it remains focused on diversifying operations to fuel growth as a new subsidiary in the financial technology sector contributed a significant level of revenue to the financial performance in the first half of 2021.

Net loss for the six months was RMB 70.8 million, compared to a net loss of RMB 111.5 million, a year ago. Loss per share was RMB 16.24 compared to a loss of RMB 40.82.

Revenue for the six months ended June 30, 2021 was RMB 50.1 million, a 25.9% increase from RMB 39.8 million, prior year.

Meishuang Huang, CEO, said, "For the first half of 2021, we experienced challenging market conditions due to the slowdown of the real estate sector in China. Our sustained marketing efforts during this period enabled us to realize an 11% increase in sales volume in the first half of fiscal 2021."