TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
ArtGo Holdings Ltd. ( (HK:3313) ) has issued an update.
ArtGo Holdings Ltd. announced a clarification regarding the renewal status of its mining license for the Dejiang Mine. Despite initial approvals for the renewal application submitted in December 2018, the Natural Resource and Planning Bureau in Guizhou Province rejected the application in December 2024. The rejection was due to the company’s failure to meet certain conditions, including the submission of a comprehensive geological restoration plan and a security deposit. The decision to deprioritize these requirements was influenced by the significant decline in demand for marble products amid the COVID-19 pandemic, which adversely affected the company’s financial condition and operations.
More about ArtGo Holdings Ltd.
ArtGo Holdings Ltd. operates in the mining industry, primarily focusing on the production and sale of marble blocks and slabs. The company is involved in the extraction and processing of marble, catering to the commercial and residential real estate development sectors, particularly in China.
Average Trading Volume: 318,396
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$183.7M
For a thorough assessment of 3313 stock, go to TipRanks’ Stock Analysis page.