Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) (“Antelope Enterprise” or the “Company”), a leading Chinese manufacturer of ceramic tiles used in residential and commercial buildings, and which engages in management and business consulting, and online social Commerce and live streaming in China, announced today its 51% owned subsidiary, Hainan Kylin Cloud Services Technology Co., Ltd (“Kylin Cloud“), has entered into a Service Cooperation Contract (the “Service Contract”) with Hunan Fushing E-Commerce Co., (“Fushing E-Commerce”) to provide personnel for their marketing and promotion needs. The contract is for one year and expires on August 15, 2023, but it can be renewed with a new agreement.
Ms. Meishuang Huang, Chief Executive Officer of Antelope Enterprise, commented, “We are pleased to be working with Fushing E-Commerce to help them to meet the marketing and promotion needs of their high-end food and other import businesses. We believe that our subsidiary, Kylin Cloud, is well positioned to optimize the recruiting needs for Fushing E-Commerce as a leading SaaS and PaaS service platform provider. We believe that we are off to a good start in addressing Fushing E-Commerce’s personnel needs and anticipate our having a very productive relationship.”
The Service Contract stipulates that Kylin Cloud will recruit personnel for Fushing E-Commerce to help them in projects associated with the marketing and promotion of its business. Kylin Cloud uses its SaaS platform technology to screen for personnel with the professional skills and experience required by Fushing E-Commerce, and fast-tracks such project personnel to them for their consideration. Many of Fushing E-Commerce’s marketing and promotion needs are linked via Kylin Cloud’s platform to videos and live broadcasts on WeChat, WeChat groups, QQ groups, Weibo and other streaming media and social commerce, and Fushing E-Commerce can use Kylin Cloud’s platform to engage in product marketing, promotion and e-commerce utilizing live streaming. The Service Contract also stipulates that Fushing E-Commerce will remit to Kylin Cloud management service fees, commission fees and any taxes due to Kylin Cloud based on the earnings of the referred and retained project personnel.
Kylin Cloud is a relatively new operating subsidiary of Antelope Enterprise and integral to its strategic plan to diversify into new technology sectors to mitigate the challenging market conditions of its ceramic tile segment due to the slowdown of the real estate sector in China. Antelope Enterprise’s new subsidiaries, Chengdu Future Talent Management and Consulting Co., Ltd., Antelope Holdings (Chengdu) Co., Ltd and Hainan Kylin Cloud Services Technology Co., Ltd, are engaged in selected new technology markets in China, and its businesses include management and business consulting, SaaS (software as a service) and PaaS (platform as a service) systems, online social commerce and live streaming.
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