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Secret stone enterprises have sought the mystery of listing
The stone industry is undergoing a transformation, with more and more companies choosing to go public. Leading firms like those in Xi’an, Fujian, Inner Mongolia, as well as brands such as Kangli Stone and Huahui Stone, have already embarked on this path. Even newcomers like Xiamen Accor Mining have announced their intention to list within the next two to three years, with plans to acquire large-scale domestic and international stone quarries. But why are so many companies rushing to go public? What exactly drives them?
A senior executive from a well-known stone company in Xiamen explained: “One clear objective of going public is to raise capital. Retail profits are declining, and the cost of acquiring new quarries is skyrocketing. For stone enterprises to grow and strengthen themselves, substantial financial backing is essential. In an era where industry margins are shrinking, the need for funding becomes increasingly urgent. Achieving these ambitions without significant investment—hundreds of millions or even billions—is simply unrealistic.â€
Currently, the average gross profit margin for stone companies hovers around 30%, yet the net profit margin remains relatively low at approximately 10%. The industry lacks clear leaders, and environmental concerns remain a pressing issue. Rising costs compound the challenges, making it difficult for companies to maintain high profitability. Most export-oriented enterprises rely heavily on export tax rebates to stay afloat.
However, going public isn’t always straightforward. Environmental regulations pose a significant obstacle for many companies. Previously disclosed information shows that numerous firms in the pipeline have been scrutinized during environmental audits. Some have faced delays due to issues such as non-compliance with environmental standards, unauthorized construction, or prolonged trial operations. These hurdles are particularly acute for smaller, locally based stone businesses, which often find themselves stuck midway through the process due to regulatory pressures.
As the industry evolves, balancing growth with sustainability will be key. Companies must navigate stricter regulations while seeking to expand and modernize. For now, the race to go public continues, driven by both ambition and necessity. Yet, success will depend not just on financial acumen but also on meeting stringent environmental and operational benchmarks.