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| Statement |
|---|
| I am extremely proud of the achievements of our Kylin Cloud team as our first half revenue is up 172.5% as compared to the same period last year |
| We believe that we will be able to capitalize upon this market opportunity in the periods ahead and will grow at a rate that is higher than ecommerce livestreaming sector |
| And you've had gross margin improvement |
| We believe that Kylin Cloud has the core competencies to increase its market share in the periods ahead in what we believe is an evolutionary sales channel and as we continue to engage as a pure play in the sector |
| We believe that we have a tremendous market opportunity ahead of us and are confident that Kylin Cloud's unique approach will continue to redefine the ecommerce livestreaming landscape |
| I am genuinely excited about our value proposition for our customers, and I'm confident that we will create value for our shareholders as well |
| Kylin Cloud's social media hosts and influencers build trust with consumers which increase brand awareness and which drives product sales and increased margins |
| The SaaS+ system platform strategically matches appropriate hosts and influencers to consumer brand products which results in increased sales for these companies |
| Also, as I mentioned, we are still in a very early stage in this livestreaming area and we believe that there's still a lot of room, a number of room to grow in our gross margin |
| It sounds as if you're making progress, and it's been a long fight, and good for you |
| So, the more the influencer, that means we have more potential to generate the future revenue |
| Our revenue for our livestreaming ecommerce business came in at $44.2 million for the six months, modestly higher than our top-line pre-announcement |
| We believe that Kylin Cloud is unique in the livestreaming space since its utilization of advanced analytical -- analytics that matches hosts and influencers to consumer brand products which facilitates unique content for higher conversion rates as compared to traditional ecommerce |
| Further, if not for certain non-cash expenses, we would have recorded positive operating income for our livestreaming ecommerce segment for the period |
| Kylin Cloud provides a one-stop solution for consumer product companies to utilize the growing sales channel of livestreaming ecommerce since it heightens consumer engagement and can build brand loyalty through rich content and online interaction |
| Great quarter |
| The increase in revenue was due to RMB305.9 million, or US$44.2 million, in revenue generated from our livestreaming ecommerce business, a 172.5% increase from RMB112.3 million, or US$17.3 million, for the same period of 2022 |
| The increase in gross profit was due to RMB52 million, or US$7.5 million, in gross profit generated from our livestreaming ecommerce business, a 1,591.4% increase from RMB3.1 million, or US$0.5 million, for the same period of 2022 |
| Revenue for the six month ended June 30, 2023 was RMB309.3 million, or US$44.6 million, a 161.5% increase from our RMB118.2 million, or US$18.3 million, for the same period of 2022 |
| In the last few years, livestreaming ecommerce has comprised an ever-increasing percentage of China's ecommerce sales which we expect to continue in the years ahead, spurred by a customer ecosystem that includes a young demographic and their high usage rate of mobile devices |
| But the thing is, the more influencers join our platform, we believe that the revenue will also goes up in a significant manner |
| We're expecting the gross margin will -- goes up in the coming period and years |
| Edmund Hen Thank you very much |
| On behalf of the entire Antelope Enterprise management team, I want to thank all of you for your interest and participation on this call |
| That means more people is helping our platform -- for our livestreaming business and more people will contribute to our livestreaming in our platform |
| Edmund Hen Thank you |
| Thank you very much |
| Thank you |
| Thank you |
| Thank you |
| Statement |
|---|
| We view ecommerce livestreaming as especially important since traditional ecommerce can be challenged in terms of its ability for brands to stand out and build personal connections with consumers |
| So, it is very difficult for us to estimate the mature gross margin in the future growth |
| And at this point, it's very difficult to calculate the metrics between the influencer and the revenue |
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