HONG KONG, April 30, 2018 /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, 2017 as follows.
CHINA NATURAL
RESOURCES, INC.
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CONSOLIDATED
STATEMENTS OF PROFIT OR LOSS
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YEARS ENDED
DECEMBER 31, 2015, 2016 AND 2017
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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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2015
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2016
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2017
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2017
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CNY
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CNY
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CNY
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US$
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(Restated)
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(Restated)
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CONTINUING
OPERATIONS
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Administrative
expenses
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(3,577)
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(4,519)
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(6,204)
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(953)
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OPERATING
LOSS
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(3,577)
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(4,519)
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(6,204)
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(953)
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Finance
costs
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(2)
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(1)
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(14)
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(2)
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Foreign exchange
difference, net
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(354)
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—
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—
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—
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Interest
income
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164
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75
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39
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6
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LOSS BEFORE INCOME
TAX FROM CONTINUING OPERATIONS
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(3,769)
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(4,445)
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(6,179)
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(949)
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INCOME TAX
EXPENSE
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(1,504)
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—
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—
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—
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LOSS FOR THE YEAR
FROM CONTINUING OPERATIONS
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(5,273)
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(4,445)
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(6,179)
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(949)
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DISCONTINUED
OPERATIONS
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Loss for the year
from discontinued operations, net of tax
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(36,176)
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(18,591)
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(23,817)
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(3,660)
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LOSS FOR THE
YEAR
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(41,449)
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(23,036)
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(29,996)
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(4,609)
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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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(5,273)
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(4,445)
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(6,179)
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(949)
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From
discontinued operations
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(36,176)
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(18,591)
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(23,817)
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(3,660)
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(41,449)
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(23,036)
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(29,996)
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(4,609)
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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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—
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—
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—
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—
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—
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—
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—
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—
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(41,449)
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(23,036)
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(29,996)
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(4,609)
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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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(0.21)
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(0.18)
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(0.25)
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(0.04)
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- For loss from
discontinued operations
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(1.45)
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(0.74)
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(0.95)
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(0.15)
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- Net loss per
share
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(1.66)
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(0.92)
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(1.20)
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(0.19)
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Diluted
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- For loss from
continuing operations
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(0.21)
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(0.18)
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(0.25)
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(0.04)
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- For loss from
discontinued operations
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(1.45)
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(0.74)
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(0.95)
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(0.15)
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- Net loss per
share
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(1.66)
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(0.92)
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(1.20)
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(0.19)
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The consolidated statements of profits or loss of the Company
for the years ended December 31,
2015, 2016 and 2017 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, 2017 contained in the Company's
annual report on Form 20-F as filed with the Commission on
April 30, 2018.
Mr. Wong Wah On Edward, the
Company's Chairman, commented on the results: "The Board has
determined to focus the Company's resources on metals explorations
and mining activities and other business operations in the PRC. In
November 2017, we acquired Bayannaoer
Mining which owns the right to explore for minerals at a mine
located in Inner Mongolia Autonomous Region of the PRC. In
December 2017, we sold our copper
smelting plant in Bolivia. We will
continue to explore 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$1.00=CNY6.5067
as quoted by www.ofx.com on December 31,
2017. The CNY is not freely convertible into foreign
currencies and no representation is made that the CNY amounts could
have been, or could be, converted into US$ 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 exploration for lead,
silver and other metals in the Inner Mongolia Autonomous Region of
the People's Republic of
China.
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 the Company, its directors or its officers
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, and actual
results may differ materially from those in the forward-looking
statement as a result of various factors. 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,
uncertainties regarding the governmental, economic and political
circumstances in the People's Republic of
China, 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 filings with the Securities and Exchange Commission. With
respect to forward-looking statements that include a statement of
its underlying assumptions or bases, the Company cautions that,
while it believes such assumptions or bases to be reasonable and
has formed them in good faith, assumed facts or bases almost always
vary from actual results, and the differences between assumed facts
or bases and actual results can be material depending on the
circumstances. When, in any forward-looking statement, the Company,
or its management, expresses an expectation or belief as to future
results, that expectation or belief is expressed in good faith and
is believed to have a reasonable basis, but there can be no
assurance that the stated expectation or belief will result or be
achieved or accomplished.
View original
content:http://www.prnewswire.com/news-releases/china-natural-resources-inc-announces-2017-results-of-operations-300639395.html
SOURCE China Natural Resources, Inc.