Core Viewpoint - The company has decided not to pursue the renewal of the mining license for the Dejiang mine due to financial constraints and regulatory uncertainties, focusing instead on the operations of the Yongfeng mine, which holds a valid mining license and has potential for capacity expansion [1][2][3] Group 1: Mining License Renewal - The renewal application for the mining license was accepted in 2019, but the authorities rejected it on December 29, 2024, leading the company to resubmit the application [1] - The company has not received any positive feedback regarding the renewed application, and the board has decided against investing additional resources into the renewal process due to financial and regulatory uncertainties [1][2] - The renewal process requires significant financial and management resources, which the board deems not in the best commercial interest of the company [1][2] Group 2: Financial Strategy - Given the current financial situation, the company has opted for a more prudent allocation of financial resources, prioritizing cash for operations and loan repayments [2] - The board believes that focusing on the Yongfeng mine, which has a valid mining license and room for capacity expansion, will yield better returns for the company [2] - The tightening industry standards and increasing regulatory enforcement create significant uncertainty regarding the acceptance of the renewal application and the associated costs [2] Group 3: Operational Impact - The Dejiang mine has not generated any revenue in recent years, and its mining rights have been fully impaired as of 2024 [3] - The decision not to pursue the renewal of the mining license is not expected to have a significant adverse impact on the overall business and financial condition of the company [3] - The marble products division will continue normal operations and remain a primary source of revenue, with the board committed to allocating resources to this segment and exploring new business opportunities [3]
雅高控股决定不再进一步投入德江矿采矿许可证续期