HONG KONG, April 28, 2016 /PRNewswire/ -- CHINA NATURAL
RESOURCES, INC. (NASDAQ: CHNR), a company based in the People's Republic of China, today
announced its results of operations for the year ended December 31, 2015 as follows.
CHINA NATURAL
RESOURCES, INC.
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CONSOLIDATED
STATEMENTS OF PROFIT OR LOSS
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YEARS ENDED
DECEMBER 31, 2013, 2014 AND 2015
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(Amounts in
thousands, except share and per share data)
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Year Ended
December 31,
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2013
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2014
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2015
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2015
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CNY
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CNY
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CNY
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US$
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CONTINUING
OPERATIONS
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Revenues
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41,360
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8,303
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18,342
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2,825
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Cost of
sales
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(25,101)
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(6,563)
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(31,936)
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(4,919)
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Gross
profit/(loss)
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16,259
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1,740
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(13,594)
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(2,094)
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Selling and
distribution expenses
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(124)
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(80)
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(31)
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(5)
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Administrative
expenses
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(17,906)
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(12,226)
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(18,894)
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(2,910)
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Impairment loss on
property, plant and equipment
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—
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(8,065)
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(7,542)
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(1,162)
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Write-down/(Reversal
of write-down) of inventories to net realizable value,
net
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—
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(9,299)
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5,474
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843
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Other operating
(expenses)/income, net
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(1,104)
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554
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412
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63
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OPERATING
LOSS
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(2,875)
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(27,376)
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(34,175)
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(5,265)
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Finance
costs
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(360)
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(392)
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(424)
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(65)
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Foreign exchange
difference, net
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2,445
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—
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(354)
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(55)
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Interest
income
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1,814
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1,602
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1,056
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163
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Non-operating
expenses, net
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(167)
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(218)
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(106)
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(17)
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PROFIT/(LOSS) BEFORE
INCOME TAX FROM CONTINUING OPERATIONS
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857
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(26,384)
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(34,003)
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(5,239)
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INCOME TAX
EXPENSE
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(2,142)
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(6,839)
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(1,504)
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(232)
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LOSS FOR THE YEAR
FROM CONTINUING OPERATIONS
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(1,285)
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(33,223)
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(35,507)
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(5,471)
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DISCONTINUED
OPERATION
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Loss for the year
from discontinued operations, net of tax
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(334,537)
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(10,708)
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—
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—
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LOSS FOR THE
YEAR
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(335,822)
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(43,931)
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(35,507)
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(5,471)
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ATTRIBUTABLE
TO:
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Owners of the
Company
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From continuing
operations
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(1,285)
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(33,223)
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(35,507)
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(5,471)
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From
discontinued operations
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(334,119)
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(9,925)
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—
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—
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(335,404)
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(43,148)
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(35,507)
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(5,471)
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Non-controlling
interests
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From continuing
operations
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—
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—
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—
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—
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From
discontinued operations
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(418)
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(783)
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—
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—
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(418)
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(783)
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—
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—
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|
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(335,822)
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(43,931)
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(35,507)
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(5,471)
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LOSS PER SHARE
ATTRIBUTABLE TO OWNERS OF THE COMPANY:
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Basic
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- For loss from
continuing operations
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(0.05)
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(1.33)
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(1.43)
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(0.22)
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- For loss from
discontinued operations
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(13.41)
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(0.40)
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—
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—
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- Net loss per
share
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(13.46)
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(1.73)
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(1.43)
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(0.22)
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Diluted
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- For loss from
continuing operations
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(0.05)
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(1.33)
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(1.43)
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(0.22)
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- For loss from
discontinued operations
|
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(13.41)
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(0.40)
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—
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—
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- Net loss per
share
|
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(13.46)
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(1.73)
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(1.43)
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(0.22)
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The consolidated statements of profits or loss of the Company
for the years ended December 31,
2013, 2014 and 2015 have been prepared in accordance with
International Financial Reporting Standards ("IFRS") as issued by
the International Accounting Standards Board ("IASB"). The
consolidated statements of profits or loss have been derived from
and should be read in conjunction with the Company's audited
consolidated financial statements for the year ended December 31, 2015 to be contained in the
Company's annual report on Form 20-F to be filed with the
Commission on or prior to April 28,
2016.
Mr. Li Feilie, the Company's
Chairman, commented on the results: "While the depressed market
price for non-ferrous metals continues to put pressure on our
industry, we are exploring new businesses opportunities to
contribute to revenues and enhance shareholder values."
For the convenience of the reader, amounts in Chinese Yuan
("CNY") have been translated into United
States dollars ("US$") at the rate of US$1.00=CNY6.4917
quoted by Bloomberg Finance L.P. on December
31, 2015. The CNY is not freely convertible into
foreign currencies and no representation is made that the CNY
amounts could have been, or could be, converted into US$ at that
rate, or at all.
About China Natural Resources:
China Natural Resources, Inc., a British
Virgin Islands corporation, through its operating
subsidiaries in the People's Republic of
China, is currently engaged in the acquisition and
exploitation of mining rights, including the exploration, mineral
extraction, processing and sale of iron, zinc and other nonferrous
metals, extracted or produced at mines primarily located in
Anhui Province in the PRC.
Forward-Looking Statements:
This press release includes forward-looking statements within the
meaning of federal securities laws. These forward-looking
statements are based upon assumptions believed to be reliable, but
involve risks and uncertainties that may cause actual results of
operations to differ materially from the forward-looking
statements. Among the risks and uncertainties that could
cause our actual results to differ from our forward-looking
statements are our intent, belief and current expectations as to
business operations and operating results of the Company,
uncertainties regarding the governmental, economic, legal and
political circumstances in the People's
Republic of China, risks and hazards associated with the
Company's mining activities, uncertainties associated with ore
reserve estimates, uncertainties associated with metal and coal
price volatility, uncertainties associated with the Company's
reliance on third-party contractors, uncertainties relating to
possible future increases in operating expenses, including costs of
labor and materials, and other risks detailed from time to
time in the Company's Securities and Exchange Commission filings.
Although the Company's management believes that the expectations
reflected in forward-looking statements are reasonable, it can
provide no assurance that such expectations will prove to be
accurate.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/china-natural-resources-inc-announces-2015-results-of-operations-300259419.html
SOURCE China Natural Resources, Inc.