Antelope Enterprise Holdings Ltd (NASDAQ: AEHL) trades at $4.55 (up 14.04%) on June 9 2021. It expects to provide impressive gains to investors above $4.90 because Reddit shows interest in this stock.
It attracted a wide discussion on the microblogging platform Twitter. The stock is gaining on more volumes and indicates further gains in the coming days for investors. However, investors need to exercise caution because it already gained 42.9% in just two days.
Revenues decline by $0.3 million
Antelope posted a drop of $0.3 million YoY in H2 2020 revenues to $21.1 million. The company narrowed its loss by $14 million YoY to $12.1 million.
The company lowered the provision for inventory reversal to $0.3 million in H2 2020 compared to $8.1 million in H2 2019.
It also reduced the provision for bad debt to $7.2 million in H2 2020 from $17.8 million in H2 2019.
Antelope’s CEO, Meishuang Huang, said the company experienced unfavorable market conditions because of COVID-19 pandemic in 2020.
Several customers canceled their orders or delayed their purchase decisions in 2020. They wait for normal conditions to resume sales activity.
Offers 15% price discount to retain customers
Antelope offered a price discount of 15% in late 2019 to maintain sales volumes and retain the customers for its future business. The company experienced a reduction in its average sale price in H2 2020.
The company used just 4.2 million sq. Mt. of ceramic tiles production per annum against the full annual production of 51.6 million in 2020. It is on the backdrop of maintaining operational expenses low.
It will utilize additional manufacturing capacity when the business improves in the future.
Diversifies to promote growth
The company concentrates on diversifying into new products to promote growth in the future and offer rich dividends to the shareholders in the long term.
It also focuses on its core business through its subsidiaries – Antelope Chengdu and Chengdu Future to sustain growth.