HONG KONG, Dec. 15, 2017 /PRNewswire/ -- CHINA NATURAL
RESOURCES, INC. (NASDAQ: CHNR), a company based in the People's Republic of China, today released
unaudited interim financial information for the three and six
months ended June 30, 2017 as
follows:
CONDENSED
CONSOLIDATED STATEMENTS OF PROFIT OR
|
LOSS AND OTHER
COMPREHENSIVE INCOME (UNAUDITED)
|
THREE AND SIX
MONTHS ENDED JUNE 30, 2017 AND 2016
|
(Amounts in
thousands, except per share data)
|
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Three Months
Ended
June
30,
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Six Months
Ended
June
30,
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|
2016
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|
2017
|
|
|
2017
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|
|
2016
|
|
|
2017
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|
|
2017
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|
CNY
|
|
|
CNY
|
|
|
US$
|
|
|
CNY
|
|
|
CNY
|
|
|
US$
|
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
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(Unaudited)
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(Unaudited)
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(Restated)
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(Restated)
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CONTINUING
OPERATIONS
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|
|
|
|
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|
Administrative
expenses
|
|
|
(2,075)
|
|
|
|
(3,124)
|
|
|
|
(461)
|
|
|
|
(3,826)
|
|
|
|
(5,741)
|
|
|
|
(847)
|
|
Other operating
expense
|
|
|
(305)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(1,059)
|
|
|
|
—
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|
|
|
—
|
|
OPERATING LOSS FROM
CONTINUING OPERATIONS
|
|
|
(2,380)
|
|
|
|
(3,124)
|
|
|
|
(461)
|
|
|
|
(4,885)
|
|
|
|
(5,741)
|
|
|
|
(847)
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|
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Finance
costs
|
|
|
(7)
|
|
|
|
(44)
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|
|
|
(6)
|
|
|
|
(23)
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|
|
|
(107)
|
|
|
|
(16)
|
|
Interest
income
|
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|
23
|
|
|
|
9
|
|
|
|
1
|
|
|
|
27
|
|
|
|
19
|
|
|
|
3
|
|
Non-operating
expenses, net
|
|
|
(39)
|
|
|
|
(70)
|
|
|
|
(10)
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|
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(43)
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|
(391)
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|
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|
(58)
|
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LOSS BEFORE INCOME
TAX FROM CONTINUING OPERATIONS
|
|
|
(2,403)
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|
(3,229)
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|
(476)
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|
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|
(4,924)
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|
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(6,220)
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|
(918)
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Income tax
expense
|
|
|
—
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—
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—
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—
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—
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—
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LOSS FOR THE PERIOD
FROM CONTINUING OPERATIONS
|
|
|
(2,403)
|
|
|
|
(3,229)
|
|
|
|
(476)
|
|
|
|
(4,924)
|
|
|
|
(6,220)
|
|
|
|
(918)
|
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|
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|
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DISCONTINUED
OPERATION
|
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(Loss)/profit for the
period from a discontinued operation
|
|
|
(4,103)
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—
|
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|
—
|
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|
(6,078)
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|
10,978
|
|
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|
1,619
|
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(LOSS)/PROFIT FOR THE
PERIOD
|
|
|
(6,506)
|
|
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|
(3,229)
|
|
|
|
(476)
|
|
|
|
(11,002)
|
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|
4,758
|
|
|
|
701
|
|
|
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|
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Other comprehensive
loss:
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Items to be classified
to profit or loss in subsequent period:
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Foreign currency
translation adjustments
|
|
|
(238)
|
|
|
|
(571)
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|
|
|
(84)
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|
|
|
(3,287)
|
|
|
|
(745)
|
|
|
|
(110)
|
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TOTAL OTHER
COMPREHENSIVE LOSS
|
|
|
(238)
|
|
|
|
(571)
|
|
|
|
(84)
|
|
|
|
(3,287)
|
|
|
|
(745)
|
|
|
|
(110)
|
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TOTAL COMPREHENSIVE
(LOSS)/ INCOME FOR THE PERIOD, NET OF TAX
|
|
|
(6,744)
|
|
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|
(3,800)
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|
|
|
(560)
|
|
|
|
(14,289)
|
|
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|
4,013
|
|
|
|
591
|
|
BASIC AND DILUTED
(LOSS)/EARNINGS PER SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY
(PRESENTED IN CNY PER SHARE):
|
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For (loss)/profit for
the period
|
|
|
(0.26)
|
|
|
|
(0.13)
|
|
|
|
(0.02)
|
|
|
|
(0.44)
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|
|
0.19
|
|
|
|
0.03
|
|
For loss from
continuing operations
|
|
|
(0.10)
|
|
|
|
(0.13)
|
|
|
|
(0.02)
|
|
|
|
(0.20)
|
|
|
|
(0.25)
|
|
|
|
(0.04)
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
|
AS OF JUNE 30,
2017 (UNAUDITED) AND DECEMBER 31, 2016
|
(Amounts in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
December
31,
|
|
|
June
30,
|
|
|
June
30,
|
|
|
|
2016
|
|
|
2017
|
|
|
2017
|
|
|
|
CNY
|
|
|
CNY
|
|
|
US$
|
|
|
|
(Audited)
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
NON-CURRENT
ASSETS
|
|
|
|
|
|
|
|
|
|
Property, plant and
equipment
|
|
|
54,523
|
|
|
|
47,817
|
|
|
|
7,053
|
|
Rehabilitation
fund
|
|
|
3,972
|
|
|
|
—
|
|
|
|
—
|
|
Prepayments
|
|
|
56
|
|
|
|
71
|
|
|
|
10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL NON-CURRENT
ASSETS
|
|
|
58,551
|
|
|
|
47,888
|
|
|
|
7,063
|
|
|
|
|
|
|
|
|
|
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CURRENT
ASSETS
|
|
|
|
|
|
|
|
|
|
|
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Inventories
|
|
|
10,557
|
|
|
|
4,498
|
|
|
|
663
|
|
Prepayments
|
|
|
330
|
|
|
|
250
|
|
|
|
37
|
|
Other
receivables
|
|
|
6,127
|
|
|
|
6,567
|
|
|
|
969
|
|
Cash and cash
equivalents
|
|
|
19,228
|
|
|
|
14,860
|
|
|
|
2,192
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
TOTAL CURRENT
ASSETS
|
|
|
36,242
|
|
|
|
26,175
|
|
|
|
3,861
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
ASSETS
|
|
|
94,793
|
|
|
|
74,063
|
|
|
|
10,924
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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CURRENT
LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade
payables
|
|
|
2,736
|
|
|
|
1,147
|
|
|
|
169
|
|
Other payables and
accrued liabilities
|
|
|
17,361
|
|
|
|
3,186
|
|
|
|
469
|
|
Taxes
payable
|
|
|
22,627
|
|
|
|
17,610
|
|
|
|
2,597
|
|
Due to related
companies
|
|
|
21,007
|
|
|
|
22,444
|
|
|
|
3,311
|
|
Due to the
Shareholder
|
|
|
12,565
|
|
|
|
12,082
|
|
|
|
1,782
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL CURRENT
LIABILITIES
|
|
|
76,296
|
|
|
|
56,469
|
|
|
|
8,328
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NON-CURRENT
LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset retirement
obligations
|
|
|
5,302
|
|
|
|
386
|
|
|
|
57
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL NON-CURRENT
LIABILITIES
|
|
|
5,302
|
|
|
|
386
|
|
|
|
57
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
LIABILITIES
|
|
|
81,598
|
|
|
|
56,855
|
|
|
|
8,385
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
Issued
capital
|
|
|
312,081
|
|
|
|
312,081
|
|
|
|
46,034
|
|
Reserves
|
|
|
(298,886)
|
|
|
|
(294,873)
|
|
|
|
(43,495)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
EQUITY
|
|
|
13,195
|
|
|
|
17,208
|
|
|
|
2,539
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND
EQUITY
|
|
|
94,793
|
|
|
|
74,063
|
|
|
|
10,924
|
|
For the convenience of the reader, amounts in Renminbi, the
Chinese currency ("CNY"), have been translated into United States dollars ("US$") at the
applicable rate of US$1.00 =
CNY6.7794 as quoted by UKForex as of
June 30, 2017, except as disclosed
otherwise. No representation is made that the CNY amounts could
have been, or could be, converted into US$ at that rate, or at
all.
The condensed consolidated statements of profit or loss and
other comprehensive income for the three and six months ended
June 30, 2017 (unaudited) and the
condensed consolidated statements of financial position as of
June 30, 2017 (unaudited) are derived
from, and should be read in conjunction with, the Company's
unaudited condensed consolidated financial statements for the three
and six months ended June 30, 2017
and 2016, as furnished to the Securities and Exchange Commission on
December 15, 2017 under cover of Form
6-K. The results of operations for the six months ended
June 30, 2017 are not necessarily
indicative of the results of operations that may be expected for
the year ending December 31,
2017.
Mr. Edward Wong, the Company's
Chairman and CEO, commented on the 2017 interim results: "In
March 2017, we sold our non-ferrous
mining operation to an unrelated third party after concluding that
then prevailing market prices for non-ferrous metals coupled with
the corresponding costs of extraction did not warrant continued
production. In November 2017, we
acquired a mining company which holds an exploration permit to a
mine located in Bayannaoer City, Inner Mongolia which is believed
to contain minable amounts of lead and silver resources, with the
prospect that further surveying and exploration may indicate the
presence of other minable ore such as copper. We will continue to
explore new business opportunities to contribute to revenues and
enhance shareholder values."
About China Natural Resources, Inc.:
China Natural Resources, Inc., a British Virgin Islands corporation, through
its operating subsidiaries in the
People's Republic of China and Bolivia, is currently engaged in (i) the
acquisition and exploitation of mining rights in Inner Mongolia,
including exploring for lead, silver and other nonferrous metals,
and (ii) trial production at our copper smelting plant in
Bolivia in preparation for
commercial production of copper cathodes.
Forward-Looking Statements:
This press release includes forward-looking statements within
the meaning of federal securities laws. These statements include,
without limitation, statements regarding the intent, belief and
current expectations of management with respect to the Company's
policies regarding investments, dispositions, financings, conflicts
of interest and other matters; and trends affecting the Company's
financial condition or results of operations. Forward-looking
statements are not a guarantee of future performance and involve
risks and uncertainties, many of which are outside of our control,
and actual results may differ materially from those in the
forward-looking statement. Among the risks and uncertainties that
could cause our actual results to differ from our forward-looking
statements are: uncertainties relating to our business operations
and operating results; uncertainties related to the governmental,
economic and political environment in the
People's Republic of China and Bolivia; uncertainties associated with metal
price volatility; uncertainties related to our ability to fund
operations; uncertainties associated with the Company's reliance on
third-party contractors; and other risks detailed from time to time
in the Company's filings with the Securities and Exchange
Commission, including without limitation the information set forth
in our Annual Report on Form 20-F under the heading "Risk Factors."
While management believes that its assumptions forming the bases
for forward-looking statements are reasonable, assumed facts or
bases generally vary from actual results, and there can be no
assurance that the expectations or beliefs expressed in
forward-looking statements will be achieved or accomplished.
View original
content:http://www.prnewswire.com/news-releases/china-natural-resources-releases-interim-results-of-operations-300572119.html
SOURCE China Natural Resources, Inc.