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新股报告:雅高矿业控股有限公司(3313.HK)

IPO Report: Accor Mining Holdings Limited (3313.HK)

羣益證券(香港) ·  Dec 18, 2013 00:00  · Researches

Accor Mining is a branded marble manufacturer with the largest marble mine and distribution network in China. The company currently owns and operates Yongfeng Mining. According to F&S reports, as of 2013/9/30, the mine was the largest marble mine in China. As of 2013/9/30, it had 107 million cubic meters of discovered, controlled and estimated resources and a proven and approximate yield of 44.2 million cubic meters. According to reports from qualified personnel, the past waste recovery rate of the company's mine was 46.7%, and the estimated total deposit was about 45%, while according to F&S reports, the industry average was 15%. Currently, the company mainly sells the company's marble products through a total of 63 distributors as of 2013/9/30, along with direct sales to corporate customers. According to F&S reports, this network is the largest marble distribution network in China. The company also sells a small number of products to overseas markets. The company currently uses third party contractors for marble slab processing, and each third party processing plant has dedicated quality control teams to implement strict control. To become a fully vertically integrated marble producer, the company plans to build the company's own marble processing plant, which is expected to be put into operation in 2016.

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