Antelope Enterprise Subsidiary Kylin Cloud Enters into Contract with E-Commerce Importer

JINJIANG,China,Sept. 28,2022 --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.

About Hunan Fushing E-Commerce

Hunan Fushing E-Commerce is an importer of premium food products and delicacies from around the world that is based in Hunan,China. In addition,the company imports beauty and personal care products,maternal and child healthcare products,luxury goods,among other products,and independently validates all of their imported goods for authenticity.

About Antelope Enterprise Holdings Limited

Antelope Enterprise Holdings Limited is a leading manufacturer of ceramic tiles in China. The Company's ceramic tiles are used in residential and commercial buildings. Antelope Enterprise's products,sold under the "Hengda" or "HD",are available in over 2,000 style,color and size combinations and are distributed through a network of exclusive distributors as well as directly to large property developers. The Company also engages in business management,information systems consulting,the provision of SaaS (software as a service) and PaaS (platform as a service) platforms,and online social commerce and live streaming in China. For more information,please visit http://www.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 bring additional ceramic tile production capacity online going forward as our business improves,our ceramic tile customers continuing to adjust to our product price increases,our ability to sustain our average selling price increases and to continue to build volume in the quarters ahead,and whether our enhanced marketing efforts will help to produce wider customer acceptance of the new price points; and our ability to continue to grow our business management,information system consulting,and online social Commerce and live streaming business. 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,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.

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