Antelope Enterprise Holdings Limited, operating through its subsidiaries, manufactures and sells ceramic tiles within the People's Republic of China. These tiles are ...
Antelope Enterprise Holdings Limited (AEHL) is a China-based ceramic-tile manufacturer focused on building materials for both residential and commercial projects. The company (formerly known as China Ceramics Co., Ltd. until its name change in October 2020) is headquartered in Jinjiang, Fujian, and was founded in 1993. It operates through subsidiaries ...Antelope Enterprise Holdings Limited (AEHL) is a China-based ceramic-tile manufacturer focused on building materials for both residential and commercial projects. The company (formerly known as China Ceramics Co., Ltd. until its name change in October 2020) is headquartered in Jinjiang, Fujian, and was founded in 1993. It operates through subsidiaries that design/manufacture and market ceramic tiles used for exterior siding and interior flooring.
From a product and go-to-market perspective, AEHL’s offerings span several tile categories and finishes, including porcelain tiles, glazed tiles, glazed porcelain, rustic tiles, and polished glazed tiles. These products are marketed under the company’s HD or Hengda brands. Distribution is described as being carried out via an established network of partners, as well as through direct sales to property developers—suggesting a hybrid sales model typical for construction-material manufacturers that serve both retail/partner channels and larger B2B project pipelines.
In terms of operations and cost structure, ceramic tile businesses generally have significant fixed costs related to manufacturing capacity and ongoing variable costs tied to materials, energy, labor, packaging, and logistics. AEHL’s reported working-capital position and liquidity metrics (e.g., current ratio) indicate it manages near-term obligations with available current assets, which is important in a supply-chain and project-delivery context where receivables timing can materially affect cash conversion.
Financially, market data provided alongside AEHL reflects a small market capitalization, and some trailing profitability metrics appear weak/negative (typical of companies experiencing margin pressure, restructuring, or demand/cycle effects). Such conditions can impact pricing power and inventory/receivables management—key operational levers for a tile manufacturer.
Key leadership identified in the provided data is CEO Tingting Zhang. Strategically, AEHL’s “wishes” (in the practical sense of business priorities) would likely center on improving margins and cash flow through more efficient production, stronger dealer/developer relationships, tighter inventory and receivables turnover, and continued brand/product differentiation within the broader construction materials market.
Overall, AEHL positions itself within the construction materials sector as a specialized ceramic-tile supplier in China, leveraging manufacturing capabilities, brand-led product categories, and a partner-and-developer distribution approach to capture demand from building projects.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$81.1M
-17.9%
-2.1%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-14.3M
-36.1%
-192.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+0.2%
+268.8%
-192.1%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-13.4%
-15.8%
-81.3%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-17.7%
-65.7%
-199.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-2.1M
+89.3%
+94.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-2.6%
+86.9%
+94.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
13.4%
-50.1%
-26.6%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.89x
+15.0%
-8.5%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good morning, and good day. Welcome to the Antelope Enterprise Holdings First Half 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to David Rudnick of Precept Investor Relations. Please go ahead.
David Rudnick: Thank you, Drew. Good morning ladies and gentlemen and good evening to those of you who are joining us from China. Welcome to Antelope Enterprise Holdings First Half 2024 Earnings Conference Call. With us today are Antelope Enterprise's Chairman and Chief Executive Officer, Mr. Will Zhang; and his Chief Financial Officer, Mr. Edmund Hen. Before I turn the call over to Mr. Zhang, I would like to address forward-looking statements that may be discussed on the call. Forward-looking statements involve risks and uncertainties and include, among others those regarding revenue, operating expenses, other income and expense, taxes and future business outlook. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. The company claims the Safe Harbor protections for such forward-looking statements as contemplated under the Private Securities Litigation Reform Act of 1995. Please refer to the documents filed with the Company with the SEC. Specifically, the most recent reports on Forms 20-F and 6-K, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. We assume no obligation to update any forward-looking statements or information, which speak as of their respective dates. And now it's my pleasure to turn the call over to Antelope Enterprise's Chairman and CEO, Mr. Will Zhang, and Antelope Enterprise's CFO, Mr. Edmund Hen. Antelope Enterprise's [Sabrina Hsu] (ph) will be translating for CEO, Will Zhang. Mr. Zhang, you may proceed.
Will Zhang: [Foreign Language] All right. Thank you David. On behalf of the company, I would like to welcome everyone to our first half 2024 earnings conference call. [Foreign Language] Revenue for the livestreaming e-commerce business segment came in at $43.4 million for the six months, modestly lower than the $44.6 million in revenue recorded for the six months of 2023. This slight decline was due to a loss of a few major clients and a change in business strategy to secure a larger number of mid-tier clients to help to mitigate the risk of retaining major clients. We had engagements with more than 70 clients in the first half of 2024, represents an increase of nearly 20 clients compared to the same period in 2023. [Foreign Language] Our majority-owned KylinCloud subsidiary provides turnkey livestreaming marketing and broadcasting services to consumer brand companies by matching consumer brand products with the appropriate the hosts and influencers. We have a tremendous market opportunity ahead of us and believe that we have the …