Antelope Enterprise Appoints New Board Director

CHENGDU, China, March 31, 2023 /PRNewswire/ -- Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) ("Antelope Enterprise" or the "Company"), the majority owner and operator of KylinCloud, a leading livestreaming social ecommerce platform with 300,000+ anchors and influencers in China, today announced that effective March 30, 2023, its Board of Directors has appointed Ms. Huashu Yuan as a member of the Company's Board of Directors. Ms. Yuan was appointed as a member of the audit committee, and the chairperson of the nominating and corporate governance committee and the chairperson of the compensation committee. Ms. Yuan meets the Nasdaq Stock Market independence requirements as well as additional independence requirements under the US securities laws for membership on these committees.

"We welcome Ms. Yuan to our Board and are confident that she will make a positive contribution to the Company," said Chairman and CEO Will Zhang of Antelope Enterprise.

Ms. Huashu Yuan is currently the marketing specialist of Vesta Living Corp. since March 2022. She also served as an outside consultant, providing marketing advice to the Company from June 2021 to February 2023. Ms. Yuan was the marketing manager for American Tianfu-Wenhui Publishing Company based in New York City from March 2021 to February 2022. Ms. Yuan received a B.A. in Communication Science and Rhetoric Studies from the University of Wisconsin-Madison in 2019 and an M.A. in Emerging Media Studies from Boston University in 2020.

Also effective March 30, 2023, Mr. Shen Chengliang, a member of the Company's Board, tendered his resignation as a director. Mr. Shen's resignation was for personal reasons and not due to any disagreements with the Company on any matter related to the operations, policies or practices of the Company.

"We thank Mr. Shen Chengliang for his many contributions to the Company and we wish him the best of success in all of his future endeavors," said Will Zhang, Chairman and CEO of Antelope Enterprise.

About Antelope Enterprise Holdings Limited

Antelope Enterprise Holdings Limited holds a 51% ownership position in Hainan Kylin Cloud Services Technology Co., Ltd ("KylinCloud"), which operates a leading livestreaming social ecommerce platform with 300,000+ anchors and influencers in China. The Company also operates a legacy ceramic tile manufacturing business in China which is in the process of being divested.

For more information, please visit our website at http://www.aehl-kylin.com/, or follow the Company on Twitter at https://twitter.com/AntelopeAEHL. To receive the Company's public announcements, please email investor@aehltd.com.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, without limitation, the continued stable macroeconomic environment in the PRC, the PRC real estate, construction and technology sectors continuing to exhibit sound long-term fundamentals, our ability to continue to grow our business management, information system consulting, and online social commerce and live streaming business, our ability to keep up with and utilize new technologies to effectively compete within our industry, our ability to attract and engage more anchors and influencers to our platform, and the development of regulatory environment of the online social commerce and live streaming industries in China. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2021 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.