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]

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 has a valid mining license and potential for capacity expansion [1][2]. 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 company deems not in its best commercial interest given the current market conditions [2]. Group 2: Financial Strategy - The company is prioritizing cash for current operations and loan repayments, opting for a more prudent use of financial resources [2]. - The board believes that focusing on the Yongfeng mine, which has an effective 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 approval of the renewal application and the associated costs [2]. Group 3: Market Conditions - The marble products industry in China has faced challenges due to a slowdown in the commercial and residential property markets, leading to reduced demand and pressure on sales prices and profit margins [2]. - The Dejiang mine has not generated any revenue in recent years, and its mining rights have been fully impaired as of 2024, indicating that the decision not to pursue the license renewal will not significantly impact the company's overall business and financial status [3]. - The marble products division will continue to operate normally and remain a primary source of revenue, with the board committed to allocating resources to this segment and exploring new business opportunities [3].

Core Viewpoint - The company has submitted a renewed application for the mining license of the Dejiang mine after the initial renewal request was rejected by authorities on December 29, 2024. The company is currently awaiting feedback on this new application and has decided not to invest additional resources in pursuing the renewal, as it is not in the best interest of the group [1]. Group 1: Mining License Status - The renewal application for the mining license was accepted by relevant authorities in 2019, but the renewed license has yet to be issued [1]. - The company has not received any positive feedback regarding the renewed application as of the announcement date [1]. - The board has decided against further investment in the mining license renewal, considering it does not align with the group's best interests [1]. Group 2: Financial Impact - The Dejiang mine has not generated any revenue in recent years, and the mining rights were fully impaired in 2024 [1]. - The decision not to pursue the renewal or any non-renewal decisions is expected to have no significant adverse impact on the overall business and financial condition of the group [1]. - The marble products division will continue normal operations and remain the primary source of revenue for the company [1]. Group 3: Future Business Strategy - The board will continue to allocate resources to the marble products division and actively seek new business opportunities to enhance shareholder returns [1].