Cover
Cover | 6 Months Ended |
Jun. 30, 2023 | |
Cover [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2023 |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2023 |
Current Fiscal Year End Date | --12-31 |
Entity Registrant Name | ANTELOPE ENTERPRISE HOLDINGS LTD. |
Entity Central Index Key | 0001470683 |
Entity Address, Address Line One | Room 1802 |
Entity Address, Address Line Two | Block D, Zhonghai International Center |
Entity Address, Address Line Three | Hi- Tech Zone |
Entity Address, City or Town | Chengdu |
Entity Address, Country | CN |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CNY (¥) ¥ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | |
NONCURRENT ASSETS | |||
Property and equipment, net | ¥ 1,327 | ¥ 1,006 | |
Intangible assets, net | 5 | 6 | |
Right-of-use assets, net | 469 | ||
Note Receivable | 58,744 | ||
Total noncurrent assets | 60,076 | 1,481 | |
CURRENT ASSETS | |||
VAT receivables | 463 | 142 | |
Due from related party | 242 | ||
Loan receivables | 32,470 | ||
Other receivables and prepayments | 27,759 | 19,180 | |
Available-for-sale financial assets | 7,651 | 8,523 | |
Restricted cash | 2,069 | ||
Cash and bank balances | 3,140 | 3,936 | |
Total current assets | 71,725 | 33,850 | |
Assets classified as held for sale | 74,675 | ||
Total assets | 131,801 | 110,006 | |
CURRENT LIABILITIES | |||
Trade payables | 2,594 | 3,079 | |
Accrued liabilities and other payables | 856 | 799 | |
Unearned revenue | 391 | ||
Amounts owed to related parties | 131 | 1,291 | |
Note payable | 9,268 | ||
Lease liabilities | 328 | ||
Taxes payable | 77 | 582 | |
Total current liabilities | 13,317 | 6,079 | |
NET CURRENT ASSETS | 58,408 | 27,771 | |
NONCURRENT LIABILITIES | |||
Lease liabilities | 157 | ||
Note payable | 8,775 | ||
Total noncurrent liabilities | 8,932 | ||
Liabilities directly associated with assets classified as held for sale | 88,530 | ||
Total liabilities | 13,317 | 103,541 | |
NET ASSETS | 118,484 | 6,465 | |
EQUITY | |||
Share capital | 3,532 | [1] | 1,288 |
Reserves | 109,571 | (241) | |
Noncontrolling interest | 5,381 | 5,418 | |
Total equity | ¥ 118,484 | ¥ 6,465 | |
[1]The number of shares reflected the one-for-ten reverse split |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - CNY (¥) ¥ in Thousands | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Profit or loss [abstract] | |||
Net sales | ¥ 309,250 | ¥ 118,246 | |
Cost of goods sold | 262,055 | 116,340 | |
Gross profit | 47,195 | 1,906 | |
Other income | 2,831 | 1,682 | |
Selling and distribution expenses | (49,194) | (1,876) | |
Administrative expenses | (38,715) | (6,405) | |
Bad debt reversal | 5,293 | ||
Finance costs | (14) | ||
Other expenses | (4) | ||
Income (loss) before taxation | (37,883) | 582 | |
Income tax expense | 2 | 83 | |
Net income (loss) for the period from continuing operations | (37,885) | 499 | |
Discontinued operations | |||
Gain on disposal of discontinued operations | 73,846 | ||
Loss for the period from discontinued operations | (1,385) | (26,245) | |
Net income (loss) for the period | 34,576 | (25,746) | |
Net income (loss) attributable to : | |||
Equity holders of the Company | 34,613 | (29,335) | |
Non-controlling interest | (37) | 3,589 | |
Net income (loss) attributable to the equity holders of the Company arise from: | |||
Continuing operations | (37,848) | (3,090) | |
Discontinued operations | 72,461 | (26,245) | |
Other comprehensive loss | |||
Exchange differences on translation of financial statements of foreign operations | (4,145) | 114 | |
Total comprehensive income (loss) for the period | 30,431 | (25,632) | |
Total comprehensive income (loss) attributable to: | |||
Equity holders of the Company | 30,468 | (29,221) | |
Non-controlling interest | (37) | 3,589 | |
Total comprehensive loss attributable to the equity holders of the Company arise from: | |||
Continuing operations | (42,030) | 613 | |
Discontinued operations | ¥ 72,461 | ¥ (26,245) | |
Basic (RMB) | |||
— from continuing operations | ¥ (23.44) | ¥ (5.14) | |
— from discontinued operations | 44.88 | (43.65) | |
Diluted (RMB) | |||
— from continuing operations | [1] | (23.44) | (5.14) |
— from discontinued operations | [1] | ¥ 36.51 | ¥ (43.65) |
[1]Warrants to purchase Class A ordinary shares are not included in the diluted loss per share calculations when their effect is antidilutive. For the six months ended June 30, 2023 and 2022, 370,175 135,316 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - CNY (¥) ¥ in Thousands | Issued capital [member] | Share premium [member] | Reverse recapitalization reserve [member] | Merger reserve [member] | Reserve of share-based payments [member] | Statutory reserve [member] | Capital reserve [member] | Retained earnings [member] | Reserve of exchange differences on translation [member] | Equity attributable to owners of parent [member] | Non-controlling interests [member] | Total |
Balance at Dec. 31, 2021 | ¥ 943 | ¥ 757,318 | ¥ (507,235) | ¥ 58,989 | ¥ 127,982 | ¥ 135,343 | ¥ 61,266 | ¥ (582,820) | ¥ (924) | ¥ 50,862 | ¥ (1,306) | ¥ 49,556 |
IfrsStatementLineItems [Line Items] | ||||||||||||
Net income (loss) for the period | (29,335) | (29,335) | 3,589 | (25,746) | ||||||||
Exchange difference on transaction of financial statements of foreign operations | 114 | 114 | 114 | |||||||||
Total comprehensive income (loss) for the period | (29,335) | 114 | (29,221) | 3,589 | (25,632) | |||||||
Issuance of new shares for equity financing | ||||||||||||
Equity compensation - employee share-based compensation | 21 | 1,004 | 1,025 | 1,025 | ||||||||
Additional paid in capital | 2,450 | 2,450 | ||||||||||
Transfer to statutory reserves | ||||||||||||
Balance at Jun. 30, 2022 | 964 | 757,318 | (507,235) | 58,989 | 128,986 | 135,343 | 61,266 | (612,155) | (810) | 22,666 | 4,733 | 27,399 |
Balance at Dec. 31, 2022 | 1,288 | 762,767 | (507,235) | 58,989 | 130,093 | 135,343 | 61,266 | (640,738) | (726) | 1,047 | 5,418 | 6,465 |
IfrsStatementLineItems [Line Items] | ||||||||||||
Net income (loss) for the period | 34,613 | 34,613 | (37) | 34,576 | ||||||||
Exchange difference on transaction of financial statements of foreign operations | (4,145) | (4,145) | (4,145) | |||||||||
Total comprehensive income (loss) for the period | 34,613 | (4,145) | 30,468 | (37) | 30,431 | |||||||
Issuance of new shares for equity financing | 1,486 | 51,449 | 52,935 | 52,935 | ||||||||
Equity compensation - employee share-based compensation | 753 | 27,756 | 28,509 | 28,509 | ||||||||
Conversion of long-term notes into common shares | 4 | 140 | 144 | 144 | ||||||||
Balance at Jun. 30, 2023 | ¥ 3,531 | ¥ 814,356 | ¥ (507,235) | ¥ 58,989 | ¥ 157,849 | ¥ 135,343 | ¥ 61,266 | ¥ (606,125) | ¥ (4,871) | ¥ 113,103 | ¥ 5,381 | ¥ 118,484 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CNY (¥) ¥ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Income (loss) before taxation | ¥ (37,883) | ¥ 582 |
Adjustments for | ||
Operating lease charge | 163 | |
Depreciation of property, plant and equipment | 179 | 126 |
Loan forgiveness by related party | (1,160) | |
Loss on convertible note | 34 | |
Reversal of bad debt of trade receivables | (5,293) | |
Share based compensation | 28,510 | 1,025 |
Interest expense on lease liability | 14 | |
Amortization of OID of convertible note | 151 | |
Operating cash flows before working capital changes | (10,169) | (3,383) |
Decrease in trade receivables | 4,952 | |
Decrease (Increase) in other receivables and prepayments | (9,177) | 6,054 |
Increase in loan receivables | (32,470) | |
Increase (Decrease) in trade payables | (485) | 3,565 |
Increase (Decrease) in unearned revenue | 391 | (8,357) |
Decrease in taxes payable | (734) | (942) |
Increase (Decrease) in accrued liabilities and other payables | 56 | (2,647) |
Cash used in operations | (52,588) | (758) |
Interest paid | ||
Income tax paid | (95) | (25) |
Net cash generated from operating activities from discontinued operations | 14,118 | 8,406 |
Net cash generated from (used in) operating activities | (38,565) | 7,623 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Acquisition of fixed assets | (500) | (11) |
Acquisition of intangible assets | (6) | |
Decrease in available-for-sale financial asset | 872 | |
Decrease (Increase) in restricted cash | 2,069 | (8,550) |
Cash disposed as a result of disposal of subsidiaries | (256) | |
Net cash used in investing activities from discontinued operations | ||
Net cash generated from (used in) investing activities | 2,185 | (8,567) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Payment for lease liabilities | (177) | |
Insurance of share capital for equity financing | 53,075 | |
Increase of additional paid in capital | 2,450 | |
Advance from related parties | 387 | |
Net cash used in financing activities from discontinued operations | (14,303) | (14,303) |
Net cash generated from (used in) financing activities | 39,159 | (12,030) |
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS | 2,779 | (12,974) |
CASH & EQUIVALENTS (INCLUDING CASH CLASSIFIED AS HELD FOR SALE OF RMB 306,000), BEGINNING OF PERIOD | 4,242 | 27,880 |
EFFECT OF FOREIGN EXCHANGE RATE DIFFERENCES | (3,881) | 97 |
CASH & EQUIVALENTS, END OF YEAR | 3,140 | 15,003 |
ANALYSIS OF BALANCES OF CASH AND CASH EQUIVALENTS: | ||
Cash and cash equivalents | 3,140 | 11,807 |
Cash and cash equivalents included in assets classified as held for sale | ¥ 3,196 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parenthetical) - CNY (¥) ¥ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Statement of cash flows [abstract] | ||
Cash classified as held for sale | ¥ 306,000 | ¥ 3,196 |
GENERAL INFORMATION
GENERAL INFORMATION | 6 Months Ended |
Jun. 30, 2023 | |
General Information | |
GENERAL INFORMATION | 1. GENERAL INFORMATION Antelope Enterprise Holdings Limited (“Antelope Enterprise” or the “Company”), formerly known as China Ceramics Co., Ltd (“CCCL”), is a British Virgin Islands company operating under the BVI Business Companies Act (2004) with its shares listed on the NASDAQ Stock Market (“symbol: AEHL”). Its predecessor company, China Holdings Acquisition Corp. (“CHAC”), was incorporated in Delaware on June 22, 2007, and was organized as a blank check company for the purpose of acquiring, through a stock exchange, an asset acquisition or other similar business combination, or controlling, through contractual arrangements, an operating business, that has its principal operations in Asia. The Company was organized to have no operations and no assets or liabilities of consequence outside of its investments in its operating subsidiaries. The head office of the Company is located at Room 1802, Block D, Zhonghai International Center, Hi-Tech Zone, Chengdu, Sichuan Province, the People’s Republic of China (“PRC”). On September 18, 2023, the Company effected a one-for-ten reverse split of its issued and outstanding Class A ordinary shares. The consolidated financial statements as of June 30, 2023 and December 31, 2022, and for the six months ended June 30, 2023 and 2022 were retroactively restated to reflect this reverse split. Antelope Enterprise and its subsidiaries’ corporate structure as of June 30, 2023 was as follows: |
BASIS OF PREPARATION AND SUMMAR
BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2. BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard (“IAS”) 34 Interim Financial Reporting, as issued by the International Accounting Standards Board (“IASB”). They do not include all of the information required in annual financial statements in accordance with International Financial Reporting Standards (“IFRS”), and should be read in conjunction with the audited consolidated financial statements and related footnotes on Form 20-F for the year ended December 31, 2022 as filed with the Securities and Exchange Commission. The accompanying unaudited condensed consolidated interim financial statements reflect all normal recurring adjustments which, in the opinion of management, are necessary for a fair statement of the results for the interim periods presented. Results for the six months ended June 30, 2023 are not necessarily indicative of the results expected for the full fiscal year or for any future period. These interim financial statements are presented in RMB, unless otherwise stated. They were approved for issue by the Audit Committee of the Board of Directors and the Board of Directors on October 2, 2023. These interim financial statements have been prepared in accordance with the same accounting policies adopted in the 2022 annual financial statements, except for the accounting policy changes that are expected to be reflected in the 2023 annual financial statements. Details of any changes in accounting policies are set out in note 3. These interim financial statements contain condensed consolidated financial statements and selected explanatory notes. The notes include an explanation of events and transactions that are significant to an understanding of the changes in financial position and performance of the Group since the 2021 annual financial statements. |
CHANGES IN ACCOUNTING POLICIES
CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES | 6 Months Ended |
Jun. 30, 2023 | |
Changes In Accounting Policies And Disclosures | |
CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES | 3. CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES At the date of authorization of these financial statements, the IASB has issued a number of amendments, new standards and interpretations which are not yet effective for the six months ended June 30, 2023 and which have not been adopted in these financial statements. These include the following which may be relevant to the Group: Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture The management of the Company anticipate that the application of all the new and amendments to IFRSs will have no material impact on the consolidated financial statements in the foreseeable future. |
CRITICAL ACCOUNTING ESTIMATES A
CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS | 4. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS The preparation of interim financial statements in conformity with IAS 34 requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses on a year to date basis. Actual results may differ from these estimates. |
REVENUE AND OTHER INCOME
REVENUE AND OTHER INCOME | 6 Months Ended |
Jun. 30, 2023 | |
Revenue And Other Income | |
REVENUE AND OTHER INCOME | 5. REVENUE AND OTHER INCOME a) Revenue comprises the fair value of the consideration received or receivable for the sale of goods. An analysis of the Company’s revenue and other income is as follows: SCHEDULE OF ANALYSIS ABOUT COMPANY'S REVENUE AND OTHER INCOME For the six months ended June 30, 2023 2022 RMB’000 RMB’000 Revenues Continuing operations Business management and consulting 3,302 5,952 Livestreaming ecommerce 305,948 112,294 Discontinued operations Sale of tiles (Note 17) 2,701 16,715 Total revenues 311,951 134,961 Other income Continuing operations Interest income 530 163 Government grant 307 632 Tax subsidy - 887 Loan forgiveness 1,160 - Other income 834 - Discontinued operations Other income (Note 17) 5,716 8,717 Total other income 8,547 10,399 b) Segment reporting The Company identifies operating segments and prepares segment information based on the regular internal financial information reported to the Chief Executive Officer and executive directors, who are the Company’s chief operating decision makers for their decisions about the allocation of resources to the Company’s business components and for their review of the performance of those components. All of the Company’s operations are considered by the chief operating decision makers to be aggregated into three reportable operating segments: 1) the provision of livestreaming ecommerce industry which was acquired as part of a strategic transformation towards trending technology businesses in China to mitigate the challenging conditions in the real estate market in China, and associated industries like the Company’s legacy ceramic tile business, (2) business management and consulting; and (3) the manufacture and sale of standard to high-end ceramic tiles, which was disposed by the Company in April 2023. Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the Company’s chief operating decision makers in deciding how to allocate resources and in assessing performance. The business of the Company is engaged entirely in the PRC. The Chief Executive Officer and executive directors regularly review the Company’s business as one geographical segment. The following table shows the Company’s operations by business segment for the six months ended June 30, 2023 and 2022. SCHEDULE OF OPERATIONS BY BUSINESS SEGMENT For the six months ended June 30, 2023 2022 RMB’000 RMB’000 Revenues Discontinued operations Sales of tile products 2,701 16,716 Continuing operations Consulting income / software 3,302 5,952 Livestreaming ecommerce 305,948 112,293 Total revenues 311,951 134,961 Cost of revenues Discontinued operations Sales of tile products 7,557 19,026 Continuing operations Consulting income / software 8,151 7,123 Livestreaming ecommerce 253,904 109,216 Total cost of revenues 269,612 135,365 Operating costs and expenses Discontinued operations Sales of tile products 3,244 13,823 Continuing operations Consulting income / software 2,584 3,275 Livestreaming ecommerce 53,187 2,450 Other 32,139 2,570 Total operating costs and expenses 91,154 22,118 Bad debt expense (reversal) Discontinued operations Sales of tile products (1,000 ) 18,829 Continuing operations Consulting income / software - - Livestreaming ecommerce - (5,293 ) Total bad debt expense (1,000 ) 13,536 Other expenses Discontinued operations Sales of tile products - - Continuing operations Consulting income / software - - Livestreaming ecommerce - 4 Total other expenses - 4 Other income Discontinued operations Sales of tile products 5,716 8,716 Continuing operations Consulting income / software 74 36 Livestreaming ecommerce 1,070 1,489 Other 1,687 158 Total other income 8,547 10,399 Loss from operations Sales of tile products (1,384 ) (26,246 ) Consulting income / software (7,359 ) (4,410 ) Livestreaming ecommerce (73 ) 7,405 Other (30,452 ) (2,412 ) Loss from operations (39,268 ) (25,663 ) As of June 30, As of December 31, Segment assets Ceramic tile products - 74,675 Consulting income/software 57,284 15,924 Livestreaming ecommerce 14,236 15,004 Others 60,281 4,403 Total assets 131,801 110,006 |
LOSS BEFORE TAXATION
LOSS BEFORE TAXATION | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
LOSS BEFORE TAXATION | 6. LOSS BEFORE TAXATION SCHEDULE OF LOSS BEFORE TAXATION For the six months ended June 30, 2023 2022 RMB’000 RMB’000 Finance costs Interest expense on lease liability 293 753 Cost of inventories recognized as an expense (including depreciation charge of right-of-use assets for leases) 7,557 19,025 Depreciation of fixed assets 178 132 Depreciation charge of right-of-use assets for leases (included in the administrative expenses) - 163 Research and development costs 294 806 Staff costs (including key management personnel remuneration) 6,244 5,962 For the six months ended June 30, 2023, the cost of inventories recognized as expense included staff costs of RMB 191,000 1.6 4.3 6.4 |
INCOME TAX
INCOME TAX | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
INCOME TAX | 7. INCOME TAX SCHEDULE OF INCOME TAX For the six months ended June 30, 2023 2022 RMB’000 RMB’000 Continuing operations Current Tax: PRC Income Tax Expense 2 83 Deferred tax expense — — Total income tax 2 83 Discontinued operations did not incur any income tax expense for the six months ended June 30, 2023 and 2022. British Virgin Islands Profits Tax The Company has not been subject to any taxation in this jurisdiction for the six months ended June 30, 2023 and 2022. Hong Kong Profits Tax The subsidiaries in Hong Kong are subject to tax charged on Hong Kong sourced income, the corporate tax rate in Hong Kong is a two-tier one starting with the year of assessment 2018/2019 (from April 1 2018): the tax is 8.25 7.5 2 16.5 15 PRC Income Tax Most subsidiaries of the Company in the PRC are subject to the enterprise income tax in accordance with “PRC Enterprise Income Tax Law” (“EIT Law”), and the applicable income tax rate for the six months ended June 30, 2023 and 2022 is 25 2.5 |
LOSS PER SHARE
LOSS PER SHARE | 6 Months Ended |
Jun. 30, 2023 | |
Loss Per Share | |
LOSS PER SHARE | 8. LOSS PER SHARE SCHEDULE OF LOSS PER SHARE For the six months ended June 30, 2023 2022 RMB’000 RMB’000 Loss attributable to holders of ordinary shares (RMB’000): Net loss from continuing operations (37,848 ) (3,090 ) Net income (loss) from discontinued operations 72,461 (26,245 ) Weighted average number of ordinary shares outstanding used in computing basic earnings per share * 1,614,471 601,314 Weighted average number of ordinary shares outstanding used in computing diluted earnings per share * 1,984,646 601,314 Income (loss) per share – basic (RMB) From continuing operations (23.44 ) (5.14 ) From discontinued operations 44.88 (43.65 ) Income (loss) per share - diluted (RMB) ** From continuing operations ** (23.44 ) (5.14 ) From discontinued operations ** 36.51 (43.65 ) * The number of shares reflected the one-for-ten reverse split effective on September 18, 2023. ** Warrants to purchase Class A ordinary shares are not included in the diluted loss per share calculations when their effect is antidilutive. For the six months ended June 30, 2023 and 2022, 370,175 135,316 |
LOAN RECEIVABLE
LOAN RECEIVABLE | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
LOAN RECEIVABLE | 9. LOAN RECEIVABLE From March 31, 2023 to June 27, 2023, Anhui Zhongjun Enterprise Management Co., Ltd (“Anhui Zhongjun”) borrowed a total of RMB 32,470,000 three years |
NOTE RECEIVABLE
NOTE RECEIVABLE | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
NOTE RECEIVABLE | 10. NOTE RECEIVABLE On April 28, 2023, the Company completed the sale of Stand Best Creation Limited and its subsidiaries, Hengda and Hengdali, to New Stonehenge Limited for a total of RMB 58,744,000 8,500,000 5 491,000 |
TRADE PAYABLES
TRADE PAYABLES | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
TRADE PAYABLES | 11. TRADE PAYABLES SCHEDULE OF INFORMATION ABOUT TRADE PAYABLES As of June 30, 2023 December 31, 2022 RMB’000 RMB’000 Trade payables 2,594 3,079 Trade payables are denominated in Renminbi, non-interest bearing and generally settled within 120 |
ACCRUED LIABILITIES AND OTHER P
ACCRUED LIABILITIES AND OTHER PAYABLES | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
ACCRUED LIABILITIES AND OTHER PAYABLES | 12. ACCRUED LIABILITIES AND OTHER PAYABLES SCHEDULE OF INFORMATION ABOUT ACCRUED LIABILITIES AND OTHER PAYABLES As of June 30, 2023 December 31, 2022 RMB’000 RMB’000 Accrued salary 458 402 Others 398 397 Accrued Liabilities and other payables 856 799 As of December 31, 2022, total accrued liabilities and other payables of discontinued operations was RMB 19,197,000 Accrued liabilities consist mainly of accrued rental, wages and utility expenses. The carrying value of accrued liabilities and other payables is considered to be a reasonable approximation of fair value. |
NOTE PAYABLE
NOTE PAYABLE | 6 Months Ended |
Jun. 30, 2023 | |
Note Payable | |
NOTE PAYABLE | 13. NOTE PAYABLE Unsecured Promissory Note in December 2022 On December 12, 2022, the Company entered into a Note Purchase Agreement with an investor, pursuant to which the Company issued to the Purchaser an unsecured Promissory Note of $ 1,332,500 1,250,000 62,500 20,000 8 120 200,000 200,000 200,000 1 the Investor shall have the right to increase the balance of the Note by fifteen percent (15%) for Major Trigger Event (as defined in the Note) and five percent (5%) for Minor Trigger Event (as defined in the Note). In addition, the Note provides that upon occurrence of an Event of Default, the interest rate shall accrue on the outstanding balance at the rate equal to the lesser of twenty-two percent (22%) per annum or the maximum rate permitted under applicable law. During the six months ended June 30, 2023 and 2022, the Company amortized OID of RMB 144,337 20,833 362,877 52,376 108,770 15,000 22,751 34,330 4,955 9,267,694 1,278,073 39,427 8,775,000 1,272,240 60,260 |
SHARE CAPITAL
SHARE CAPITAL | 6 Months Ended |
Jun. 30, 2023 | |
Share Capital | |
SHARE CAPITAL | 14. SHARE CAPITAL On September 18, 2023, the Company effected a one-for-ten reverse split of its issued and outstanding Class A ordinary shares. The consolidated financial statements as of June 30, 2023 and December 31, 2022, and for the six months ended June 30, 2023 and 2022 were retroactively restated to reflect this reverse split, unless otherwise specified. SCHEDULE OF INFORMATION ABOUT CLASSES OF SHARE CAPITAL As of June 30, 2023 December 31, 2022 Number US$ Number US$ of shares ‘000 of shares ‘000 Authorized: Ordinary shares of US$ 0.024 200,000,000 4,800 200,000,000 4,800 June 30, 2023 Number RMB of shares ‘000 Outstanding and fully paid: Ordinary shares of US$ 0.024 At January 1, 2023 805,785 1,288 Issuance of new shares for equity financing 854,139 1,486 Conversion of Long-term notes into common shares 2,275 4 Issuance of new shares – share-based compensation to CEO and CFO 53,262 93 Issuance of new shares – share-based compensation to Directors 168,000 292 Issuance of new shares – share-based compensation to Employee 211,721 369 At June 30, 2023 * 2,095,182 3,532 * The number of shares reflected the one-for-ten reverse split On February 12, 2021, the Company entered into a Securities Purchase Agreement with certain institutional investors for the sale of 588,235 3.57 588,235 2.1 five-year 3.57 five-year 1.86 In addition, the Placement Agent of this offering also received five-year 5 4.46 five year SCHEDULE OF PRINCIPAL ASSUMPTIONS USED IN VALUATION Grant date (investors and placement agent, respectively) February 17, 2021 Share price at date of grant (investors and placement agent, respectively) US$ 4.45 Exercise price at date of grant (investors and placement agent, respectively) US$ 3.57 4.46 Volatility 107 % Warrant life 5 Dividend yield 0 % Risk-free interest rate 0.57 % Average fair value at grant date US$ 3.54 On June 10, 2021, the Company commenced a registered direct offering of securities, and executed a Securities Purchase Agreement (“SPA”) with three 913,875 3.48 3.42 913,875 3.42 five years 3,180,285 In addition, the Company issued warrants (the “Placement Agent Warrants”) to the Placement Agent to purchase a number of common shares equal to 5.0 4.35 Grant date (investors and placement agent, respectively) June 14, 2021 Share price at date of grant (investors and placement agent, respectively) US$ 3.15 Exercise price at date of grant (investors and placement agent, respectively) US$ 3.42 4.35 Volatility 115 % Warrant life 5 Dividend yield 0 % Risk-free interest rate 0.80 % Average fair value at grant date US$ 2.50 On September 30, 2022, the Company commenced a registered direct offering of securities, and executed a Securities Purchase Agreement (the “SPA”) with two 1,666,667 0.60 1,666,667 0.82 1,000,000 In addition, the Company issued warrants (the “Placement Agent Warrants”) to the Placement Agent to purchase a number of common shares equal to 5.0 0.75 Grant date (investors and placement agent, respectively) October 4, 2022 Share price at date of grant (investors and placement agent, respectively) US$ 0.58 Exercise price at date of grant (investors and placement agent, respectively) US$ 0.82 0.75 Volatility 104 % Warrant life 5 Dividend yield 0 % Risk-free interest rate 3.96 % Average fair value at grant date US$ 0.43 On January 10, 2023, the Company entered into a certain securities purchase agreement (the “SPA”) with Mr. Weilai (Will) Zhang, the Chief Executive Officer of the Company, Mr. Ishak Han, a director of the Company, and another sophisticated purchaser (collectively, the “Purchasers”), pursuant to which the Company agreed to sell 1,625,000 0.024 0.80 1.3 On January 13, 2023, the Company entered into a certain securities purchase agreement (the “SPA”) with a certain purchaser (collectively, the “Purchasers”), pursuant to which the Company agreed to sell 1,234,568 0.024 0.81 1 On March 30, 2023, the Company entered into a certain securities purchase agreement (the “SPA”) with five sophisticated investors (collectively, the “Purchasers”), pursuant to which the Company agreed to sell 5,681,820 0.88 15.15 52.13 5 Following is a summary of the warrant activity for the six months ended June 30, 2023: SCHEDULE OF SUMMARY OF THE WARRANT ACTIVITY Weighted Average Remaining Average Contractual Number of Exercise Term in Warrants Price Years Outstanding at December 31, 2022 370,175 $ 21.7 4.02 Exercisable at December 31, 2022 370,175 21.7 4.02 Issued — — — Exercised — — — Expired — — — Outstanding at June 30, 2023 * 370,175 21.7 3.52 Exercisable at June 30, 2023 * 370,175 $ 21.7 3.52 * The number of shares reflected the one-for-ten reverse split Share-based Compensation From January 1 to June 30, 2023, the Company issued an aggregate of 45,365 45,365 326,309 From January 1 to June 30, 2023, the Company issued an aggregate of 487,251 487,251 2,936,777 From January 1 to June 30, 2023, the Company issued an aggregate of 1,680,000 1,680,000 7,187,489 From January 1 to June 30, 2023, the Company issued an aggregate of 2,117,211 2,117,211 18,059,565 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of transactions between related parties [abstract] | |
RELATED PARTY TRANSACTIONS | 15. RELATED PARTY TRANSACTIONS Apart from those discussed elsewhere in these condensed consolidated financial statements, the following are significant related party transactions entered into between the Company and its related parties at agreed rates: SCHEDULE OF SIGNIFICANT RELATED PARTY TRANSACTIONS June 30, 2023 December 31, 2022 As of June 30, 2023 December 31, 2022 RMB’000 RMB’000 Amounts owed to related parties 131 1,291 As of June 30, 2023 and December 31, 2022, the Company had a loan of RMB Nil 167,000 1,160,000 As of June 30, 2023, and December 31, 2022, the Company had a loan of US $ 20,000 131,000 20,000 131,000 June 30, 2023 December 31, 2022 As of June 30, 2023 December 31, 2022 RMB’000 RMB’000 Amounts owed from related parties 242 - As of June 30, 2023, the Company had due from CEO of RMB 242,000 |
COMMITMENTS
COMMITMENTS | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
COMMITMENTS | 16. COMMITMENTS (a) Capital commitments The Company’s capital expenditures consist of expenditures on property, plant and equipment and capital contributions. Capital expenditures contracted for at the balance sheet date but not recognized in the financial statements are as follows: SCHEDULE OF CAPITAL EXPENDITURES CONTRACTED FOR AT THE BALANCE SHEET DATE BUT NOT RECOGNIZED June 30, 2023 December 31, 2022 As of June 30, 2023 December 31, 2022 RMB’000 RMB’000 Contracted for capital commitment with respect to capital contributions to its wholly foreign owned subsidiary in the PRC: Chengdu Future 26,074 30,000 Antelope Chengdu 41,500 47,365 Hainan Antelope Holding 63,726 63,726 Antelope Future (Yangpu) 62,426 63,726 Antelope Investment (Hainan) 50,000 50,000 Antelope Ruicheng Investment 48,710 47,245 Hangzhou Kylin Cloud Service Technology 2,220 4,500 Wenzhou Kylin Cloud Service Technology 5,000 - Anhui Kylin Cloud Service Technology 3,900 4,900 Contractual capital commitments 3,900 4,900 |
ASSETS AND LIABILITIES OF DISPO
ASSETS AND LIABILITIES OF DISPOSAL GROUP | 6 Months Ended |
Jun. 30, 2023 | |
Assets And Liabilities Of Disposal Group | |
ASSETS AND LIABILITIES OF DISPOSAL GROUP | 17. ASSETS AND LIABILITIES OF DISPOSAL GROUP Since the ceramic tiles manufacturing business of the Company has experienced significant hurdles due to the significant slowdown of the real estate sector and the impacts of COVID-19 in China, on April 28, 2023, the Company divested of its ceramic tiles manufacturing business, which was conducted through the Company’s two subsidiaries, Jinjiang Hengda Ceramics Co., Ltd. and Jiangxi Hengdali Ceramic Materials Co., Ltd. Jiangxi Hengdali Ceramics is wholly owned by Jinjiang Hengda Ceramics, which is a wholly owned subsidiary of Stand Best Creation Limited, a Hong Kong company (the “Target”). The Target is Stand Best Creation Limited, a wholly owned subsidiary of Success Winner Limited which is 100 On December 30, 2022, the Seller, the Target and New Stonehenge Limited, a British Virgin Islands exempt company which is not affiliate of the Company or any of its directors or officers, (the “Buyer”), entered into certain share purchase agreement (the “Disposition SPA”). Pursuant to the Disposition SPA, the Buyer agreed to purchase the Target, and in exchange the Buyer will issue a 5% unsecured promissory note to the Seller with principal amount of $ 8.5 The Company held an extraordinary meeting of shareholders on February 21, 2023, at 8:30 AM ET, at Junbing Industrial Area, Anhai, Jinjiang, Fujian, China. There were 5,678,430 10,035,188 8.5 The following table summarizes the carrying value of the assets and liabilities of disposal group at the closing date of disposal. The Company recorded RMB 73.8 8.5 SCHEDULE OF ASSETS AND LIABILITIES OF DISPOSAL GROUP As of RMB’000 Right-of-use assets, net 26,670 Inventories, net 25,798 Trade receivables, net 2,875 Other receivables and prepayments 2,890 Cash and bank balances 256 Accrued liabilities and other payables (19,143 ) Amounts owed to related parties (35,057 ) Lease liabilities (19,315 ) Taxes payable (77 ) The financial performance and cash flow information of disposed group are for the six months ended June 30, 2023 and 2022: SCHEDULE OF FINANCIAL PERFORMANCE AND CASH FLOW INFORMATION 2023 2022 Six Months Ended June 30, 2023 2022 RMB’000 RMB’000 Financial performance Net sales 2,701 16,715 Cost of goods sold 7,557 19,025 Gross loss (4,856 ) (2,310 ) Other income 5,716 8,717 Selling and distribution expenses (1,517 ) (2,976 ) Administrative expenses (1,434 ) (10,108 ) Bad debt Reversal (expense) 1,000 (18,829 ) Finance costs (293 ) (739 ) Loss before taxation (1,384 ) (26,245 ) Gain on disposal of discontinued operations 73,846 - Income tax expense - - Net loss for the year from discontinued operations 72,461 (26,245 ) Cash flow information Net cash generated from operating activities from discontinued operations 14,118 8,406 Net cash used in investing activities from discontinued operations - - Net cash used in financing activities from discontinued operations (14,303 ) (14,303 ) Net (decrease) increase in cash and cash equivalents from discontinued operations (185 ) (5,897 ) |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
SUBSEQUENT EVENTS | 18. SUBSEQUENT EVENTS The Company has evaluated all events that have occurred subsequent to June 30, 2023 through the date that the consolidated financial statements were issued. Management has concluded that the following subsequent events required disclosure in the financial statements: On July 26, 2023, Antelope Enterprise Holdings Limited, entered into a note purchase agreement with Atlas Sciences, LLC, a Utah limited liability company (the “Investor”), pursuant to which the Company agreed to the Investor an unsecured promissory note in the original principal amount of $ 1,070,000 1,000,000 The Note bears interest at a rate of eight percent ( 8% 50,000 20,000 120% 160,000 160,000 160,000 1% Under the Purchase Agreement, while the Note is outstanding, the Company agreed to keep adequate public information available and maintain its Nasdaq listing. Upon the occurrence of a Trigger Event (as defined in the Note), the Investor shall have the right to increase the balance of the Note by fifteen percent (15%) for Major Trigger Event (as defined in the Note) and five percent (5%) for Minor Trigger Event (as defined in the Note). In addition, the Note provides that upon occurrence of an Event of Default, the interest rate shall accrue on the outstanding balance at the rate equal to the lesser of twenty-two percent (22%) per annum or the maximum rate permitted under applicable law. On September 1, 2023, the Company and the Investor entered into a standstill agreement with regard to the certain promissory note issued to the Investor dated December 12, 2022. Pursuant to the standstill agreement the Investor agreed not to redeem any portion of such promissory note until November 30, 2023. The Company, in return, agreed to increase the Outstanding Balance (as defined in such note) of such note by $ 96,091.77 1,163,778.15 On August 2, 2023, Antelope Enterprise Holdings Limited entered into a certain securities purchase agreement with a certain investor, pursuant to which the Company agreed to sell 2,083,333 0.48 1 On August 15, 2023, Hainan Kylin incorporated a 100% On August 18, 2023, Hainan Kylin incorporated a 100% |
REVENUE AND OTHER INCOME (Table
REVENUE AND OTHER INCOME (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Revenue And Other Income | |
SCHEDULE OF ANALYSIS ABOUT COMPANY'S REVENUE AND OTHER INCOME | SCHEDULE OF ANALYSIS ABOUT COMPANY'S REVENUE AND OTHER INCOME For the six months ended June 30, 2023 2022 RMB’000 RMB’000 Revenues Continuing operations Business management and consulting 3,302 5,952 Livestreaming ecommerce 305,948 112,294 Discontinued operations Sale of tiles (Note 17) 2,701 16,715 Total revenues 311,951 134,961 Other income Continuing operations Interest income 530 163 Government grant 307 632 Tax subsidy - 887 Loan forgiveness 1,160 - Other income 834 - Discontinued operations Other income (Note 17) 5,716 8,717 Total other income 8,547 10,399 |
SCHEDULE OF OPERATIONS BY BUSINESS SEGMENT | The following table shows the Company’s operations by business segment for the six months ended June 30, 2023 and 2022. SCHEDULE OF OPERATIONS BY BUSINESS SEGMENT For the six months ended June 30, 2023 2022 RMB’000 RMB’000 Revenues Discontinued operations Sales of tile products 2,701 16,716 Continuing operations Consulting income / software 3,302 5,952 Livestreaming ecommerce 305,948 112,293 Total revenues 311,951 134,961 Cost of revenues Discontinued operations Sales of tile products 7,557 19,026 Continuing operations Consulting income / software 8,151 7,123 Livestreaming ecommerce 253,904 109,216 Total cost of revenues 269,612 135,365 Operating costs and expenses Discontinued operations Sales of tile products 3,244 13,823 Continuing operations Consulting income / software 2,584 3,275 Livestreaming ecommerce 53,187 2,450 Other 32,139 2,570 Total operating costs and expenses 91,154 22,118 Bad debt expense (reversal) Discontinued operations Sales of tile products (1,000 ) 18,829 Continuing operations Consulting income / software - - Livestreaming ecommerce - (5,293 ) Total bad debt expense (1,000 ) 13,536 Other expenses Discontinued operations Sales of tile products - - Continuing operations Consulting income / software - - Livestreaming ecommerce - 4 Total other expenses - 4 Other income Discontinued operations Sales of tile products 5,716 8,716 Continuing operations Consulting income / software 74 36 Livestreaming ecommerce 1,070 1,489 Other 1,687 158 Total other income 8,547 10,399 Loss from operations Sales of tile products (1,384 ) (26,246 ) Consulting income / software (7,359 ) (4,410 ) Livestreaming ecommerce (73 ) 7,405 Other (30,452 ) (2,412 ) Loss from operations (39,268 ) (25,663 ) As of June 30, As of December 31, Segment assets Ceramic tile products - 74,675 Consulting income/software 57,284 15,924 Livestreaming ecommerce 14,236 15,004 Others 60,281 4,403 Total assets 131,801 110,006 |
LOSS BEFORE TAXATION (Tables)
LOSS BEFORE TAXATION (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
SCHEDULE OF LOSS BEFORE TAXATION | SCHEDULE OF LOSS BEFORE TAXATION For the six months ended June 30, 2023 2022 RMB’000 RMB’000 Finance costs Interest expense on lease liability 293 753 Cost of inventories recognized as an expense (including depreciation charge of right-of-use assets for leases) 7,557 19,025 Depreciation of fixed assets 178 132 Depreciation charge of right-of-use assets for leases (included in the administrative expenses) - 163 Research and development costs 294 806 Staff costs (including key management personnel remuneration) 6,244 5,962 |
INCOME TAX (Tables)
INCOME TAX (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
SCHEDULE OF INCOME TAX | SCHEDULE OF INCOME TAX For the six months ended June 30, 2023 2022 RMB’000 RMB’000 Continuing operations Current Tax: PRC Income Tax Expense 2 83 Deferred tax expense — — Total income tax 2 83 |
LOSS PER SHARE (Tables)
LOSS PER SHARE (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Loss Per Share | |
SCHEDULE OF LOSS PER SHARE | SCHEDULE OF LOSS PER SHARE For the six months ended June 30, 2023 2022 RMB’000 RMB’000 Loss attributable to holders of ordinary shares (RMB’000): Net loss from continuing operations (37,848 ) (3,090 ) Net income (loss) from discontinued operations 72,461 (26,245 ) Weighted average number of ordinary shares outstanding used in computing basic earnings per share * 1,614,471 601,314 Weighted average number of ordinary shares outstanding used in computing diluted earnings per share * 1,984,646 601,314 Income (loss) per share – basic (RMB) From continuing operations (23.44 ) (5.14 ) From discontinued operations 44.88 (43.65 ) Income (loss) per share - diluted (RMB) ** From continuing operations ** (23.44 ) (5.14 ) From discontinued operations ** 36.51 (43.65 ) * The number of shares reflected the one-for-ten reverse split effective on September 18, 2023. ** Warrants to purchase Class A ordinary shares are not included in the diluted loss per share calculations when their effect is antidilutive. For the six months ended June 30, 2023 and 2022, 370,175 135,316 |
TRADE PAYABLES (Tables)
TRADE PAYABLES (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
SCHEDULE OF INFORMATION ABOUT TRADE PAYABLES | SCHEDULE OF INFORMATION ABOUT TRADE PAYABLES As of June 30, 2023 December 31, 2022 RMB’000 RMB’000 Trade payables 2,594 3,079 |
ACCRUED LIABILITIES AND OTHER_2
ACCRUED LIABILITIES AND OTHER PAYABLES (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
SCHEDULE OF INFORMATION ABOUT ACCRUED LIABILITIES AND OTHER PAYABLES | SCHEDULE OF INFORMATION ABOUT ACCRUED LIABILITIES AND OTHER PAYABLES As of June 30, 2023 December 31, 2022 RMB’000 RMB’000 Accrued salary 458 402 Others 398 397 Accrued Liabilities and other payables 856 799 |
SHARE CAPITAL (Tables)
SHARE CAPITAL (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Share Capital | |
SCHEDULE OF INFORMATION ABOUT CLASSES OF SHARE CAPITAL | SCHEDULE OF INFORMATION ABOUT CLASSES OF SHARE CAPITAL As of June 30, 2023 December 31, 2022 Number US$ Number US$ of shares ‘000 of shares ‘000 Authorized: Ordinary shares of US$ 0.024 200,000,000 4,800 200,000,000 4,800 June 30, 2023 Number RMB of shares ‘000 Outstanding and fully paid: Ordinary shares of US$ 0.024 At January 1, 2023 805,785 1,288 Issuance of new shares for equity financing 854,139 1,486 Conversion of Long-term notes into common shares 2,275 4 Issuance of new shares – share-based compensation to CEO and CFO 53,262 93 Issuance of new shares – share-based compensation to Directors 168,000 292 Issuance of new shares – share-based compensation to Employee 211,721 369 At June 30, 2023 * 2,095,182 3,532 * The number of shares reflected the one-for-ten reverse split |
SCHEDULE OF PRINCIPAL ASSUMPTIONS USED IN VALUATION | SCHEDULE OF PRINCIPAL ASSUMPTIONS USED IN VALUATION Grant date (investors and placement agent, respectively) February 17, 2021 Share price at date of grant (investors and placement agent, respectively) US$ 4.45 Exercise price at date of grant (investors and placement agent, respectively) US$ 3.57 4.46 Volatility 107 % Warrant life 5 Dividend yield 0 % Risk-free interest rate 0.57 % Average fair value at grant date US$ 3.54 Grant date (investors and placement agent, respectively) June 14, 2021 Share price at date of grant (investors and placement agent, respectively) US$ 3.15 Exercise price at date of grant (investors and placement agent, respectively) US$ 3.42 4.35 Volatility 115 % Warrant life 5 Dividend yield 0 % Risk-free interest rate 0.80 % Average fair value at grant date US$ 2.50 Grant date (investors and placement agent, respectively) October 4, 2022 Share price at date of grant (investors and placement agent, respectively) US$ 0.58 Exercise price at date of grant (investors and placement agent, respectively) US$ 0.82 0.75 Volatility 104 % Warrant life 5 Dividend yield 0 % Risk-free interest rate 3.96 % Average fair value at grant date US$ 0.43 |
SCHEDULE OF SUMMARY OF THE WARRANT ACTIVITY | SCHEDULE OF SUMMARY OF THE WARRANT ACTIVITY Weighted Average Remaining Average Contractual Number of Exercise Term in Warrants Price Years Outstanding at December 31, 2022 370,175 $ 21.7 4.02 Exercisable at December 31, 2022 370,175 21.7 4.02 Issued — — — Exercised — — — Expired — — — Outstanding at June 30, 2023 * 370,175 21.7 3.52 Exercisable at June 30, 2023 * 370,175 $ 21.7 3.52 * The number of shares reflected the one-for-ten reverse split |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of transactions between related parties [abstract] | |
SCHEDULE OF SIGNIFICANT RELATED PARTY TRANSACTIONS | Apart from those discussed elsewhere in these condensed consolidated financial statements, the following are significant related party transactions entered into between the Company and its related parties at agreed rates: SCHEDULE OF SIGNIFICANT RELATED PARTY TRANSACTIONS June 30, 2023 December 31, 2022 As of June 30, 2023 December 31, 2022 RMB’000 RMB’000 Amounts owed to related parties 131 1,291 June 30, 2023 December 31, 2022 As of June 30, 2023 December 31, 2022 RMB’000 RMB’000 Amounts owed from related parties 242 - |
COMMITMENTS (Tables)
COMMITMENTS (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes and other explanatory information [abstract] | |
SCHEDULE OF CAPITAL EXPENDITURES CONTRACTED FOR AT THE BALANCE SHEET DATE BUT NOT RECOGNIZED | SCHEDULE OF CAPITAL EXPENDITURES CONTRACTED FOR AT THE BALANCE SHEET DATE BUT NOT RECOGNIZED June 30, 2023 December 31, 2022 As of June 30, 2023 December 31, 2022 RMB’000 RMB’000 Contracted for capital commitment with respect to capital contributions to its wholly foreign owned subsidiary in the PRC: Chengdu Future 26,074 30,000 Antelope Chengdu 41,500 47,365 Hainan Antelope Holding 63,726 63,726 Antelope Future (Yangpu) 62,426 63,726 Antelope Investment (Hainan) 50,000 50,000 Antelope Ruicheng Investment 48,710 47,245 Hangzhou Kylin Cloud Service Technology 2,220 4,500 Wenzhou Kylin Cloud Service Technology 5,000 - Anhui Kylin Cloud Service Technology 3,900 4,900 Contractual capital commitments 3,900 4,900 |
ASSETS AND LIABILITIES OF DIS_2
ASSETS AND LIABILITIES OF DISPOSAL GROUP (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Assets And Liabilities Of Disposal Group | |
SCHEDULE OF ASSETS AND LIABILITIES OF DISPOSAL GROUP | SCHEDULE OF ASSETS AND LIABILITIES OF DISPOSAL GROUP As of RMB’000 Right-of-use assets, net 26,670 Inventories, net 25,798 Trade receivables, net 2,875 Other receivables and prepayments 2,890 Cash and bank balances 256 Accrued liabilities and other payables (19,143 ) Amounts owed to related parties (35,057 ) Lease liabilities (19,315 ) Taxes payable (77 ) |
SCHEDULE OF FINANCIAL PERFORMANCE AND CASH FLOW INFORMATION | The financial performance and cash flow information of disposed group are for the six months ended June 30, 2023 and 2022: SCHEDULE OF FINANCIAL PERFORMANCE AND CASH FLOW INFORMATION 2023 2022 Six Months Ended June 30, 2023 2022 RMB’000 RMB’000 Financial performance Net sales 2,701 16,715 Cost of goods sold 7,557 19,025 Gross loss (4,856 ) (2,310 ) Other income 5,716 8,717 Selling and distribution expenses (1,517 ) (2,976 ) Administrative expenses (1,434 ) (10,108 ) Bad debt Reversal (expense) 1,000 (18,829 ) Finance costs (293 ) (739 ) Loss before taxation (1,384 ) (26,245 ) Gain on disposal of discontinued operations 73,846 - Income tax expense - - Net loss for the year from discontinued operations 72,461 (26,245 ) Cash flow information Net cash generated from operating activities from discontinued operations 14,118 8,406 Net cash used in investing activities from discontinued operations - - Net cash used in financing activities from discontinued operations (14,303 ) (14,303 ) Net (decrease) increase in cash and cash equivalents from discontinued operations (185 ) (5,897 ) |
SCHEDULE OF ANALYSIS ABOUT COMP
SCHEDULE OF ANALYSIS ABOUT COMPANY'S REVENUE AND OTHER INCOME (Details) - CNY (¥) ¥ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Revenues | ||
Total revenues | ¥ 311,951 | ¥ 134,961 |
Interest income | 530 | 163 |
Government grant | 307 | 632 |
Tax subsidy | 887 | |
Loan forgiveness | 1,160 | |
Other income | 834 | |
Other income (Note 17) | 5,716 | 8,717 |
Total other income | 8,547 | 10,399 |
Business management and consulting [member] | ||
Revenues | ||
Total revenues | 3,302 | 5,952 |
Live streaming ecommerce [member] | ||
Revenues | ||
Total revenues | 305,948 | 112,294 |
Tile products [member] | ||
Revenues | ||
Total revenues | ¥ 2,701 | ¥ 16,715 |
SCHEDULE OF OPERATIONS BY BUSIN
SCHEDULE OF OPERATIONS BY BUSINESS SEGMENT (Details) - CNY (¥) ¥ in Thousands | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total revenues | ¥ 309,250 | ¥ 118,246 | |
Total cost of revenues | 262,055 | 116,340 | |
Total bad debt expense | 5,293 | ||
Total other expenses | 4 | ||
Total other income | 2,831 | 1,682 | |
Loss from operations | (37,883) | 582 | |
Total assets | 131,801 | ¥ 110,006 | |
Tile products [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total assets | 74,675 | ||
Consulting income and software [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total assets | 57,284 | 15,924 | |
Live streaming ecommerce [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total assets | 14,236 | 15,004 | |
Other segment [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total assets | 60,281 | ¥ 4,403 | |
Operating segments [member] | Revenues [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total revenues | 311,951 | 134,961 | |
Operating segments [member] | Cost of revenues [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total cost of revenues | 269,612 | 135,365 | |
Operating segments [member] | Operating costs and expenses [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total operating costs and expenses | 91,154 | 22,118 | |
Operating segments [member] | Bad debt expense reversal [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total bad debt expense | (1,000) | 13,536 | |
Operating segments [member] | Other expenses [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total other expenses | 4 | ||
Operating segments [member] | Other income [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total other income | 8,547 | 10,399 | |
Operating segments [member] | Income loss from operations [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Loss from operations | (39,268) | (25,663) | |
Operating segments [member] | Tile products [member] | Revenues [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total revenues | 2,701 | 16,716 | |
Operating segments [member] | Tile products [member] | Cost of revenues [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total cost of revenues | 7,557 | 19,026 | |
Operating segments [member] | Tile products [member] | Operating costs and expenses [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total operating costs and expenses | 3,244 | 13,823 | |
Operating segments [member] | Tile products [member] | Bad debt expense reversal [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total bad debt expense | (1,000) | 18,829 | |
Operating segments [member] | Tile products [member] | Other expenses [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total other expenses | |||
Operating segments [member] | Tile products [member] | Other income [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total other income | 5,716 | 8,716 | |
Operating segments [member] | Tile products [member] | Income loss from operations [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Loss from operations | (1,384) | (26,246) | |
Operating segments [member] | Consulting income and software [member] | Revenues [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total revenues | 3,302 | 5,952 | |
Operating segments [member] | Consulting income and software [member] | Cost of revenues [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total cost of revenues | 8,151 | 7,123 | |
Operating segments [member] | Consulting income and software [member] | Operating costs and expenses [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total operating costs and expenses | 2,584 | 3,275 | |
Operating segments [member] | Consulting income and software [member] | Bad debt expense reversal [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total bad debt expense | |||
Operating segments [member] | Consulting income and software [member] | Other expenses [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total other expenses | |||
Operating segments [member] | Consulting income and software [member] | Other income [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total other income | 74 | 36 | |
Operating segments [member] | Consulting income and software [member] | Income loss from operations [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Loss from operations | (7,359) | (4,410) | |
Operating segments [member] | Live streaming ecommerce [member] | Revenues [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total revenues | 305,948 | 112,293 | |
Operating segments [member] | Live streaming ecommerce [member] | Cost of revenues [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total cost of revenues | 253,904 | 109,216 | |
Operating segments [member] | Live streaming ecommerce [member] | Operating costs and expenses [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total operating costs and expenses | 53,187 | 2,450 | |
Operating segments [member] | Live streaming ecommerce [member] | Bad debt expense reversal [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total bad debt expense | (5,293) | ||
Operating segments [member] | Live streaming ecommerce [member] | Other expenses [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total other expenses | 4 | ||
Operating segments [member] | Live streaming ecommerce [member] | Other income [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total other income | 1,070 | 1,489 | |
Operating segments [member] | Live streaming ecommerce [member] | Income loss from operations [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Loss from operations | (73) | 7,405 | |
Operating segments [member] | Other segment [member] | Operating costs and expenses [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Total operating costs and expenses | 32,139 | 2,570 | |
Operating segments [member] | Other segment [member] | Other income [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Other | 1,687 | 158 | |
Operating segments [member] | Other segment [member] | Income loss from operations [member] | |||
DisclosureOfRevenueAndOtherIncomeLineItems [Line Items] | |||
Loss from operations | ¥ (30,452) | ¥ (2,412) |
SCHEDULE OF LOSS BEFORE TAXATIO
SCHEDULE OF LOSS BEFORE TAXATION (Details) - CNY (¥) ¥ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Notes and other explanatory information [abstract] | ||
Interest expense on lease liability | ¥ 293 | ¥ 753 |
Cost of inventories recognized as an expense (including depreciation charge of right-of-use assets for leases) | 7,557 | 19,025 |
Depreciation of fixed assets | 178 | 132 |
Depreciation charge of right-of-use assets for leases (included in the administrative expenses) | 163 | |
Research and development costs | 294 | 806 |
Staff costs (including key management personnel remuneration) | ¥ 6,244 | ¥ 5,962 |
SCHEDULE OF INCOME TAX (Details
SCHEDULE OF INCOME TAX (Details) - CNY (¥) ¥ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Current Tax: | ||
PRC Income Tax Expense | ¥ 2 | ¥ 83 |
Deferred tax expense | ||
Total income tax | ¥ 2 | ¥ 83 |
LOSS BEFORE TAXATION (Details N
LOSS BEFORE TAXATION (Details Narrative) - CNY (¥) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Employee benefits expense | ¥ 6,244,000 | ¥ 5,962,000 |
Depreciation and amortisation expense | 4,300,000 | 6,400,000 |
Cost of inventories [member] | ||
IfrsStatementLineItems [Line Items] | ||
Employee benefits expense | ¥ 191,000 | ¥ 1,600,000 |
INCOME TAX (Details Narrative)
INCOME TAX (Details Narrative) - HKD ($) $ in Millions | 6 Months Ended | 9 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2018 | |
HK [member] | |||
IfrsStatementLineItems [Line Items] | |||
Applicable income tax rate | 16.50% | 8.25% | |
Unincorporated tax rate | 15% | 7.50% | |
Taxable profit | $ 2 | ||
CN [member] | |||
IfrsStatementLineItems [Line Items] | |||
Applicable income tax rate | 25% | 25% | |
CN [member] | Antelope holdings chengdu co ltd [member] | |||
IfrsStatementLineItems [Line Items] | |||
Applicable income tax rate | 2.50% | 2.50% |
SCHEDULE OF LOSS PER SHARE (Det
SCHEDULE OF LOSS PER SHARE (Details) - CNY (¥) ¥ / shares in Units, ¥ in Thousands | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Loss attributable to holders of ordinary shares (RMB’000): | |||
Net loss from continuing operations | ¥ (37,848) | ¥ (3,090) | |
Net income (loss) from discontinued operations | ¥ 72,461 | ¥ (26,245) | |
Weighted average number of ordinary shares outstanding used in computing basic earnings per share | [1] | 1,614,471 | 601,314 |
Weighted average number of ordinary shares outstanding used in computing diluted earnings per share | [1] | 1,984,646 | 601,314 |
Income (loss) per share – basic (RMB) | |||
From continuing operations | ¥ (23.44) | ¥ (5.14) | |
From discontinued operations | 44.88 | (43.65) | |
Income (loss) per share - diluted (RMB) ** | |||
From continuing operations | [2] | (23.44) | (5.14) |
From discontinued operations | [2] | ¥ 36.51 | ¥ (43.65) |
[1]The number of shares reflected the one-for-ten reverse split effective on September 18, 2023.[2]Warrants to purchase Class A ordinary shares are not included in the diluted loss per share calculations when their effect is antidilutive. For the six months ended June 30, 2023 and 2022, 370,175 135,316 |
SCHEDULE OF LOSS PER SHARE (D_2
SCHEDULE OF LOSS PER SHARE (Details) (Parenthetical) - Integer | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | |
IfrsStatementLineItems [Line Items] | ||||
Ordinary shares | 370,175 | [1] | 370,175 | |
Class A ordinary shares [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Ordinary shares | 370,175 | 135,316 | ||
[1]The number of shares reflected the one-for-ten reverse split |
LOAN RECEIVABLE (Details Narrat
LOAN RECEIVABLE (Details Narrative) - Anhui zhongjun enterprise management co ltd [member] | 3 Months Ended |
Jun. 27, 2023 CNY (¥) | |
IfrsStatementLineItems [Line Items] | |
Borrowing total | ¥ 32,470,000 |
Installments period | three years |
SCHEDULE OF INFORMATION ABOUT T
SCHEDULE OF INFORMATION ABOUT TRADE PAYABLES (Details) - CNY (¥) ¥ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Notes and other explanatory information [abstract] | ||
Trade payables | ¥ 2,594 | ¥ 3,079 |
NOTE RECEIVABLE (Details Narrat
NOTE RECEIVABLE (Details Narrative) | 6 Months Ended | ||
Jun. 30, 2023 CNY (¥) | Apr. 28, 2023 USD ($) | Apr. 28, 2023 CNY (¥) | |
Notes and other explanatory information [abstract] | |||
Note receivable | $ 8,500,000 | ¥ 58,744,000 | |
Annual interest rate | 5% | 5% | |
Interest income | ¥ 491,000 |
SCHEDULE OF INFORMATION ABOUT A
SCHEDULE OF INFORMATION ABOUT ACCRUED LIABILITIES AND OTHER PAYABLES (Details) - CNY (¥) ¥ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Notes and other explanatory information [abstract] | ||
Accrued salary | ¥ 458 | ¥ 402 |
Others | 398 | 397 |
Accrued Liabilities and other payables | ¥ 856 | ¥ 799 |
TRADE PAYABLES (Details Narrati
TRADE PAYABLES (Details Narrative) | 12 Months Ended |
Dec. 31, 2022 | |
Notes and other explanatory information [abstract] | |
Term for settlement of trade payables | 120 days |
ACCRUED LIABILITIES AND OTHER_3
ACCRUED LIABILITIES AND OTHER PAYABLES (Details Narrative) - CNY (¥) | Jun. 30, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Accrued liabilities and other payables | ¥ 856,000 | ¥ 799,000 |
Discontinued operations [member] | ||
IfrsStatementLineItems [Line Items] | ||
Accrued liabilities and other payables | ¥ 19,197,000 |
NOTE PAYABLE (Details Narrative
NOTE PAYABLE (Details Narrative) | 6 Months Ended | ||||||||
Dec. 12, 2022 USD ($) | Jun. 30, 2023 USD ($) shares | Jun. 30, 2023 CNY (¥) | Jun. 30, 2022 USD ($) shares | Jun. 30, 2022 CNY (¥) shares | Jun. 30, 2023 CNY (¥) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2022 CNY (¥) shares | Dec. 30, 2022 USD ($) | |
IfrsStatementLineItems [Line Items] | |||||||||
Unsecured promissory note | $ 8,500,000 | ||||||||
Other expense | ¥ | ¥ 4,000 | ||||||||
Ordinary shares | shares | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | |||||
Note purchase agreement [member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Unsecured promissory note | $ 1,332,500 | ||||||||
Gross proceeds | 1,250,000 | ||||||||
Original issue discount | 62,500 | ||||||||
Other expense | $ 20,000 | ||||||||
Debt interest, rate | 8% | ||||||||
Prepayment outstanding balance, rate | 120% | ||||||||
Maximum monthly redemption, amount | $ 200,000 | ||||||||
Outstanding balance | $ 200,000 | ||||||||
Outstanding balance, rate | 1% | ||||||||
Outstanding balance interest, description | the Investor shall have the right to increase the balance of the Note by fifteen percent (15%) for Major Trigger Event (as defined in the Note) and five percent (5%) for Minor Trigger Event (as defined in the Note). In addition, the Note provides that upon occurrence of an Event of Default, the interest rate shall accrue on the outstanding balance at the rate equal to the lesser of twenty-two percent (22%) per annum or the maximum rate permitted under applicable law. | ||||||||
Amortized for discount | $ 20,833 | 144,337 | $ 20,833 | 144,337 | |||||
Interest expense | 52,376 | 362,877 | 52,376 | 362,877 | |||||
Notes payable | 15,000 | ¥ 108,770 | 15,000 | 108,770 | |||||
Loss on conversion of notes | $ 4,955 | ¥ 34,330 | |||||||
Outstanding principal balance | 1,278,073 | ¥ 9,267,694 | $ 1,272,240 | ¥ 8,775,000 | |||||
Unamortized for discount | $ 39,427 | $ 60,260 | |||||||
Note purchase agreement [member] | Class A ordinary shares [member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Ordinary shares | shares | 22,751 | 22,751 | 22,751 | 22,751 |
SCHEDULE OF INFORMATION ABOUT C
SCHEDULE OF INFORMATION ABOUT CLASSES OF SHARE CAPITAL (Parenthetical) (Details) - $ / shares | 6 Months Ended | |||
Feb. 12, 2021 | Jun. 30, 2023 | Jan. 13, 2023 | Jan. 10, 2023 | |
Share Capital | ||||
Par value per share | $ 0.024 | $ 0.024 | $ 0.024 | |
Reverse stock split | one-for-ten reverse split | |||
Purchase price of per share | $ 3.57 |
SCHEDULE OF INFORMATION ABOUT_2
SCHEDULE OF INFORMATION ABOUT CLASSES OF SHARE CAPITAL (Details) ¥ in Thousands, $ in Thousands | 6 Months Ended | |||||||
Jun. 30, 2023 CNY (¥) shares | Jun. 30, 2022 CNY (¥) | Jun. 30, 2023 USD ($) shares | Mar. 30, 2023 shares | Jan. 13, 2023 shares | Jan. 10, 2023 shares | Dec. 31, 2022 USD ($) shares | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||
Number of shares authorised | shares | 200,000,000 | 200,000,000 | ||||||
Value of Shares authorised | $ | $ 4,800 | $ 4,800 | ||||||
Number of shares outstanding | shares | 805,785 | |||||||
Issued capital | ¥ | ¥ 1,288 | |||||||
Number of shares issued | shares | 854,139 | 5,681,820 | 1,234,568 | 1,625,000 | ||||
Value of shares issued | ¥ | 1,486 | |||||||
Conversion of Long-term notes into common shares | shares | 2,275 | |||||||
Conversion of Long-term notes into common shares | ¥ | 4 | |||||||
Issuance of new shares share based compensation to employee, value | ¥ | ¥ 28,509 | ¥ 1,025 | ||||||
Number of shares outstanding at end of period | shares | [1] | 2,095,182 | ||||||
Issed capital | ¥ | [1] | ¥ 3,532 | ||||||
Chief executive officer and chief financial officer [member] | ||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||
Issuance of new shares share based compensation to employee, shares | shares | 53,262 | |||||||
Issuance of new shares share based compensation to employee, value | ¥ | 93 | |||||||
Director [Member] | ||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||
Issuance of new shares share based compensation to employee, shares | shares | 168,000 | |||||||
Issuance of new shares share based compensation to employee, value | ¥ | 292 | |||||||
Employee [member] | ||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||
Issuance of new shares share based compensation to employee, shares | shares | 211,721 | |||||||
Issuance of new shares share based compensation to employee, value | ¥ | ¥ 369 | |||||||
[1]The number of shares reflected the one-for-ten reverse split |
SCHEDULE OF PRINCIPAL ASSUMPTIO
SCHEDULE OF PRINCIPAL ASSUMPTIONS USED IN VALUATION (Details) | Oct. 04, 2022 USD ($) $ / shares | Jun. 14, 2021 USD ($) $ / shares | Feb. 17, 2021 USD ($) $ / shares | Feb. 12, 2021 |
DisclosureOfShareCapitalLineItems [Line Items] | ||||
Grant date | October 4, 2022 | June 14, 2021 | February 17, 2021 | |
Share price at date of grant | 0.58 | 3.15 | 4.45 | |
Volatility | 107% | |||
Warrant life | 5 years | 5 years | ||
Dividend yield | 0% | 0% | 0% | |
Risk-free interest rate | 3.96% | 0.80% | 0.57% | |
Average fair value at grant date | $ | $ 0.43 | $ 2.50 | $ 3.54 | |
Bottom of range [member] | ||||
DisclosureOfShareCapitalLineItems [Line Items] | ||||
Exercise price at date of grant | $ 0.82 | $ 3.42 | $ 3.57 | |
Top of range [member] | ||||
DisclosureOfShareCapitalLineItems [Line Items] | ||||
Exercise price at date of grant | $ 0.75 | $ 4.35 | $ 4.46 | |
Volatility | 104% | 115% | ||
Warrant life | 5 years | 5 years |
SCHEDULE OF SUMMARY OF THE WARR
SCHEDULE OF SUMMARY OF THE WARRANT ACTIVITY (Details) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 Integer ¥ / shares | Dec. 31, 2022 Integer ¥ / shares | ||
Share Capital | |||
Number of warrants, outstanding, beginning balance | Integer | 370,175 | ||
Average exercise price, outstanding, beginning balance | ¥ / shares | ¥ 21.7 | ||
Weighted average remaining contractual term in years, outstanding | 3 years 6 months 7 days | [1] | 4 years 7 days |
Number of warrants, exercisable, beginning balance | Integer | 370,175 | ||
Average exercise price, exercisable, beginning balance | ¥ / shares | ¥ 21.7 | ||
Weighted average remaining contractual term in years, exercisable | 3 years 6 months 7 days | [1] | 4 years 7 days |
Number of warrants, outstanding, ending balance | Integer | 370,175 | [1] | 370,175 |
Average exercise price, outstanding, ending balance | ¥ / shares | ¥ 21.7 | [1] | ¥ 21.7 |
Number of warrants, outstanding, ending balance | Integer | 370,175 | [1] | 370,175 |
Average exercise price, exercisable, ending balance | ¥ / shares | ¥ 21.7 | [1] | ¥ 21.7 |
[1]The number of shares reflected the one-for-ten reverse split |
SCHEDULE OF SUMMARY OF THE WA_2
SCHEDULE OF SUMMARY OF THE WARRANT ACTIVITY (Details) (Parenthetical) | 6 Months Ended |
Jun. 30, 2023 | |
Share Capital | |
Reverse stock split | one-for-ten reverse split |
SHARE CAPITAL (Details Narrativ
SHARE CAPITAL (Details Narrative) | 6 Months Ended | |||||||||
Aug. 02, 2023 USD ($) $ / shares shares | Mar. 30, 2023 USD ($) $ / shares shares | Jan. 13, 2023 USD ($) $ / shares shares | Jan. 10, 2023 USD ($) $ / shares shares | Sep. 30, 2022 USD ($) Investors $ / shares shares | Jun. 10, 2021 USD ($) Investors $ / shares shares | Feb. 17, 2021 | Feb. 12, 2021 USD ($) $ / shares shares | Jun. 30, 2023 CNY (¥) | Jun. 30, 2023 $ / shares shares | |
IfrsStatementLineItems [Line Items] | ||||||||||
Aggregate the number of share sale | shares | 588,235 | |||||||||
Gross Proceeds from pricing of public offering | $ | $ 2,100,000 | |||||||||
Purchase price of per share | 5 years | 5 years | ||||||||
Proceeds from offering | $ | $ 1,860,000 | |||||||||
Percentage of aggregate number of shares sold in offering | 5% | |||||||||
Warrants exercise price per share | $ / shares | $ 4.46 | |||||||||
Number of institutional accredited investors | Investors | 2 | 3 | ||||||||
Number of shares issued | shares | 5,681,820 | 1,234,568 | 1,625,000 | 854,139 | ||||||
Purchase price of per share | $ / shares | $ 3.57 | |||||||||
Par value per share | $ / shares | $ 0.024 | $ 0.024 | $ 0.024 | |||||||
Share price, per share | $ / shares | $ 0.88 | $ 0.81 | $ 0.80 | |||||||
Proceeds from issuing shares | $ | $ 5,000,000 | $ 1,000,000 | $ 1,300,000 | |||||||
Chief Financial Officer [Member] | ||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||
Aggregate of warrants | shares | 45,365 | |||||||||
Fair value of shares issued | ¥ | ¥ 326,309 | |||||||||
Former and chief executive officer [member] | ||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||
Aggregate of warrants | shares | 487,251 | |||||||||
Fair value of shares issued | ¥ | 2,936,777 | |||||||||
Director [Member] | ||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||
Aggregate of warrants | shares | 1,680,000 | |||||||||
Fair value of shares issued | ¥ | 7,187,489 | |||||||||
Employees [member] | ||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||
Aggregate of warrants | shares | 2,117,211 | |||||||||
Fair value of shares issued | ¥ | ¥ 18,059,565 | |||||||||
Weilai will zhang [member] | ||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||
Proportion of voting rights held in associate percentage | 52.13% | |||||||||
Major ordinary share transactions [member] | ||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||
Number of shares issued | shares | 2,083,333 | |||||||||
Share price, per share | $ / shares | $ 0.48 | |||||||||
Proceeds from issuing shares | $ | $ 1,000,000 | |||||||||
Proportion of voting rights held in associate percentage | 15.15% | |||||||||
Investor warrants [member] | ||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||
Purchase price of per share | 5 years | |||||||||
Proceeds from offering | $ | $ 1,000,000 | $ 3,180,285 | ||||||||
Warrants exercise price per share | $ / shares | $ 0.82 | $ 3.42 | ||||||||
Warrants to purchase shares of common stock | shares | 1,666,667 | 913,875 | ||||||||
Placement agent warrants [member] | ||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||
Percentage of aggregate number of shares sold in offering | 5% | 5% | ||||||||
Warrants exercise price per share | $ / shares | $ 0.75 | $ 4.35 | ||||||||
Securities purchase agreement [member] | ||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||
Number of shares issued | shares | 1,666,667 | 913,875 | ||||||||
Purchase price of per share | $ / shares | $ 0.60 | $ 3.48 | ||||||||
Securities purchase agreement [member] | Investor warrants [member] | ||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||
Closing price for the common shares preceding execution of the SPA | $ / shares | $ 3.42 |
SCHEDULE OF SIGNIFICANT RELATED
SCHEDULE OF SIGNIFICANT RELATED PARTY TRANSACTIONS (Details) - CNY (¥) ¥ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of transactions between related parties [abstract] | ||
Amounts owed to related parties | ¥ 131 | ¥ 1,291 |
Amounts owed from related parties | ¥ 242 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) | Jun. 30, 2023 USD ($) | Jun. 30, 2023 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 CNY (¥) |
IfrsStatementLineItems [Line Items] | ||||
Due from related party | ¥ 242,000 | |||
Chief Executive Officer [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Due from related party | 242,000 | |||
Sound treasure limited [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Borrowings | $ 167,000 | 1,160,000 | ||
Alex ng [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Borrowings | $ 20,000 | ¥ 131,000 | $ 20,000 | ¥ 131,000 |
SCHEDULE OF CAPITAL EXPENDITURE
SCHEDULE OF CAPITAL EXPENDITURES CONTRACTED FOR AT THE BALANCE SHEET DATE BUT NOT RECOGNIZED (Details) - CNY (¥) | Jun. 30, 2023 | Dec. 31, 2022 |
Chengdu Future Talented Management And Consulting Co Ltd [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Contractual capital commitments | ¥ 26,074 | ¥ 30,000 |
Antelope Holdings Chengdu Co. Ltd [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Contractual capital commitments | 41,500 | 47,365 |
Hainan Antelope Holding [member] | ||
IfrsStatementLineItems [Line Items] | ||
Contractual capital commitments | 63,726 | 63,726 |
Antelope future yangpu [member] | ||
IfrsStatementLineItems [Line Items] | ||
Contractual capital commitments | 62,426 | 63,726 |
Antelope investment hainan [member] | ||
IfrsStatementLineItems [Line Items] | ||
Contractual capital commitments | 50,000 | 50,000 |
Antelope ruicheng investment [member] | ||
IfrsStatementLineItems [Line Items] | ||
Contractual capital commitments | 48,710 | 47,245 |
Hainan Kylin Cloud Service Technology [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Contractual capital commitments | 2,220 | 4,500 |
Wenzhou Kylin Cloud Service Technology [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Contractual capital commitments | 5,000 | |
Anhui Kylin Cloud Service Technology [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Contractual capital commitments | ¥ 3,900 | ¥ 4,900 |
SCHEDULE OF ASSETS AND LIABILIT
SCHEDULE OF ASSETS AND LIABILITIES OF DISPOSAL GROUP (Details) - CNY (¥) | Jun. 30, 2023 | Apr. 28, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets, net | ¥ 469,000 | ||
Accrued liabilities and other payables | ¥ (856,000) | ¥ (799,000) | |
Disposal groups classified as held for sale [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets, net | ¥ 26,670 | ||
Inventories, net | 25,798 | ||
Trade receivables, net | 2,875 | ||
Other receivables and prepayments | 2,890 | ||
Cash and bank balances | 256 | ||
Accrued liabilities and other payables | (19,143) | ||
Amounts owed to related parties | (35,057) | ||
Lease liabilities | (19,315) | ||
Taxes payable | ¥ (77) |
SCHEDULE OF FINANCIAL PERFORMAN
SCHEDULE OF FINANCIAL PERFORMANCE AND CASH FLOW INFORMATION (Details) - CNY (¥) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Net sales | ¥ 309,250,000 | ¥ 118,246,000 |
Cost of goods sold | 262,055,000 | 116,340,000 |
Gross profit | 47,195,000 | 1,906,000 |
Other income | 2,831,000 | 1,682,000 |
Administrative expenses | (38,715,000) | (6,405,000) |
Finance costs | (14,000) | |
Income (loss) before taxation | (37,883,000) | 582,000 |
Gain on disposal of discontinued operations | (1,385,000) | (26,245,000) |
Total comprehensive income (loss) for the period | 30,431,000 | (25,632,000) |
Net cash generated from operating activities from discontinued operations | (38,565,000) | 7,623,000 |
Net cash used in investing activities from discontinued operations | 2,185,000 | (8,567,000) |
Net cash used in financing activities from discontinued operations | 39,159,000 | (12,030,000) |
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS | 2,779,000 | (12,974,000) |
Financial performance [member] | ||
IfrsStatementLineItems [Line Items] | ||
Net sales | 2,701 | 16,715 |
Cost of goods sold | 7,557 | 19,025 |
Gross profit | (4,856) | (2,310) |
Other income | 5,716 | 8,717 |
Selling and distribution expenses | (1,517) | (2,976) |
Administrative expenses | (1,434) | (10,108) |
Bad debt Reversal (expense) | 1,000 | (18,829) |
Finance costs | (293) | (739) |
Income (loss) before taxation | (1,384) | (26,245) |
Gain on disposal of discontinued operations | 73,846 | |
Income tax expense | ||
Total comprehensive income (loss) for the period | 72,461 | (26,245) |
Net cash generated from operating activities from discontinued operations | 14,118 | 8,406 |
Net cash used in investing activities from discontinued operations | ||
Net cash used in financing activities from discontinued operations | (14,303) | (14,303) |
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS | ¥ (185) | ¥ (5,897) |
ASSETS AND LIABILITIES OF DIS_3
ASSETS AND LIABILITIES OF DISPOSAL GROUP (Details Narrative) ¥ in Millions, $ in Millions | 6 Months Ended | ||||
Apr. 28, 2023 | Dec. 30, 2022 USD ($) shares | Jun. 30, 2023 USD ($) | Jun. 30, 2023 CNY (¥) | Dec. 31, 2022 USD ($) shares | |
IfrsStatementLineItems [Line Items] | |||||
Increase (decrease) in number of ordinary shares issued | shares | 5,678,430 | ||||
Outstanding ordinary shares | shares | 10,035,188 | ||||
Unsecured promissory note | $ 8.5 | ||||
Increase (decrease) through disposal of subsidiary, equity | ¥ | ¥ 73.8 | ||||
Gain loss disposal of assets disposal groups | $ 8.5 | ||||
Debt securities [member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Debt instrument fair value | $ 8.5 | ||||
Success Winner Limited [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Percentage of ownership interest in subsidiary | 100% |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) $ / shares in Units, ¥ in Thousands | 6 Months Ended | ||||||||||||
Nov. 30, 2023 USD ($) | Sep. 01, 2023 USD ($) | Aug. 02, 2023 USD ($) $ / shares shares | Jul. 26, 2023 USD ($) | Mar. 30, 2023 USD ($) $ / shares shares | Jan. 13, 2023 USD ($) $ / shares shares | Jan. 10, 2023 USD ($) $ / shares shares | Dec. 12, 2022 USD ($) | Feb. 12, 2021 USD ($) | Jun. 30, 2023 CNY (¥) shares | Jun. 30, 2022 CNY (¥) | Aug. 18, 2023 | Aug. 15, 2023 | |
IfrsStatementLineItems [Line Items] | |||||||||||||
Gross Proceeds from pricing of public offering | $ 2,100,000 | ||||||||||||
Other expense | ¥ | ¥ 4 | ||||||||||||
Number of shares issued | shares | 5,681,820 | 1,234,568 | 1,625,000 | 854,139 | |||||||||
Share issued price per share | $ / shares | $ 0.88 | $ 0.81 | $ 0.80 | ||||||||||
Proceeds from issuing shares | $ 5,000,000 | $ 1,000,000 | $ 1,300,000 | ||||||||||
Note purchase agreement [member] | |||||||||||||
IfrsStatementLineItems [Line Items] | |||||||||||||
Percentage of debt interest | 8% | ||||||||||||
Other expense | $ 20,000 | ||||||||||||
Prepayment outstanding balance percentage | 120% | ||||||||||||
Maximum monthly redemption amount | $ 200,000 | ||||||||||||
Outstanding balance of promissory notes | $ 200,000 | ||||||||||||
Percentage of outstanding balance | 1% | ||||||||||||
Outstanding balance interest description | the Investor shall have the right to increase the balance of the Note by fifteen percent (15%) for Major Trigger Event (as defined in the Note) and five percent (5%) for Minor Trigger Event (as defined in the Note). In addition, the Note provides that upon occurrence of an Event of Default, the interest rate shall accrue on the outstanding balance at the rate equal to the lesser of twenty-two percent (22%) per annum or the maximum rate permitted under applicable law. | ||||||||||||
Nonadjusting events [member] | Hangzhou kylin cloud services technology co. ltd [member] | |||||||||||||
IfrsStatementLineItems [Line Items] | |||||||||||||
Percentage of voting equity interests acquired | 100% | ||||||||||||
Nonadjusting events [member] | Jiangxi Kylin Cloud Services Technology Co Ltd [Member] | |||||||||||||
IfrsStatementLineItems [Line Items] | |||||||||||||
Percentage of voting equity interests acquired | 100% | ||||||||||||
Nonadjusting events [member] | Note purchase agreement [member] | |||||||||||||
IfrsStatementLineItems [Line Items] | |||||||||||||
Debt conversion original debt principal amount | $ 1,070,000 | ||||||||||||
Gross Proceeds from pricing of public offering | $ 1,000,000 | ||||||||||||
Percentage of debt interest | 8% | ||||||||||||
Original issuance discount amount | $ 50,000 | ||||||||||||
Other expense | $ 20,000 | ||||||||||||
Prepayment outstanding balance percentage | 120% | ||||||||||||
Maximum monthly redemption amount | $ 160,000 | ||||||||||||
Outstanding balance of promissory notes | $ 96,091.77 | $ 1,163,778.15 | $ 160,000 | ||||||||||
Percentage of outstanding balance | 1% | ||||||||||||
Outstanding balance interest description | the Investor shall have the right to increase the balance of the Note by fifteen percent (15%) for Major Trigger Event (as defined in the Note) and five percent (5%) for Minor Trigger Event (as defined in the Note). In addition, the Note provides that upon occurrence of an Event of Default, the interest rate shall accrue on the outstanding balance at the rate equal to the lesser of twenty-two percent (22%) per annum or the maximum rate permitted under applicable law. | ||||||||||||
Major ordinary share transactions [member] | |||||||||||||
IfrsStatementLineItems [Line Items] | |||||||||||||
Number of shares issued | shares | 2,083,333 | ||||||||||||
Share issued price per share | $ / shares | $ 0.48 | ||||||||||||
Proceeds from issuing shares | $ 1,000,000 |