Antelope Enterprise Holdings Ltd. (中国)

OVERVIEW
The Company was organized as a blank check company for the purpose of acquiring, through a stock exchange, asset acquisition or other similar business combination, or controlling, through contractual arrangements, an operating business, that has its principal operations in Asia.
HISTORY
The Company is a British Virgin Islands limited liability company operating under the British Virgin Islands Companies Act (2004) whose predecessor, CHAC was incorporated in Delaware on June 22, 2007, and was organized as a blank check company for the purpose of acquiring, through a stock exchange, asset acquisition or other similar business combination, or controlling, through contractual arrangements, an operating business, that has its principal operations in Asia. The Company has no operations and has no assets or liabilities of consequence outside its investments in its operating subsidiaries. The head office of the Company is located at Junbing Industrial Zone, Jinjiang City, Fujian Province, the People's Republic of China (“PRC”).
On November 20, 2009, CHAC merged with and into China Ceramics, its wholly owned British Virgin Islands subsidiary, and, pursuant to the terms of a merger and stock purchase agreement dated August 19, 2009, China Ceramics acquired all of the outstanding securities of Success Winner.
On November 19, 2009, China Ceramics initiated the acquisition of a new production facility in Gaoan, China . Success Winner had entered into a definitive acquisition agreement for the Gaoan Facility with a group of investors prior to the closing of its Business Combination with China Ceramics on November 20, 2009. The Company paid cash of RMB145.4 million to the Investors. The closing of the acquisition of the Gaoan Facility was subject to the Gaoan City Administration for Industry and Commerce transferring the registration and business license for the Gaoan Facility from the Investors to China Ceramics. The Company announced on January 22, 2010 that the Gaoan City Administration for Industry and Commerce had transferred to China Ceramics the registration and business license for the Gaoan Facility on January 8, 2010 and that China Ceramics had made a final cash payment of RMB39 million , and assumed loans of RMB60 million. The Company expects to spend approximately RMB27 million in the first half of 2010 to complete the first phase of the Gaoan facility. The total cost for the first phase of Gaoan facility was approximately RMB271 million .
Currently, the Gaoan Facility has three production lines installed and China Ceramics anticipates adding another four production lines in 2010 and five in 2011. The first three production lines are currently manufacturing finished products and are expected to contribute an additional 10 million square meters of production capacity of exterior ceramics tiles per year. The addition of production lines in 2010 and 2011 are expected to cost approximately US 20 million for each year. Together with the current production capacity at China Ceramics' Jinjiang, China plant, the expected production capacity in 2010 will be approximately 38 million square meters.

Its shares began trading on the NASDAQ Capital Market on November 3, 2010 under the symbol “CCCL,” and began trading on the NASDAQ Global Market on January 18, 2011.
BUSINESS
The ceramic tiles, sold under the “HD” or “Hengda,” “HDL” or “Hengdeli”, “Pottery Capital of Tang Dynasty”, “TOERTO” and ”WULIQIAO” brands are available in over two thousand styles, colors and size combinations. Currently, the Company has five principal product categories: (i) porcelain tiles, (ii) glazed tiles, (iii) glazed porcelain tiles, (iv) rustic tiles, and (v) polished glazed tiles. Ceramic tiles are widely used in the PRC as a construction material for residential and commercial buildings.
The Company s manufacturing facilities operated by Jinjiang Hengda Ceramics Co., Ltd. are located in Jinjiang, Fujian Province, and its manufacturing facilities operated by Jiangxi Hengdali Ceramic Materials Co., Ltd. are located in Gaoan, Jiangxi Province. Combined, these facilities currently provide an aggregate annual maximum production capacity of approximately 72 million square meters. However, due to current economic conditions, the Company is currently utilizing production facilities capable of producing 37 million square meters. The Company currently has sixteen production lines (nine of which were utilized as of the end of 2014), with each production line optimized to manufacture specific size ranges to maximize efficiency and output.
The Company primarily sells its products through an exclusive distributor network or directly to property developers. The Company focuses its research and development efforts on developing innovative and environmentally-friendly products.
SEGMENT
There are two product segments within the ceramic tile industry: exterior and interior