China Natural Resources, Inc. Announces 2019 Results of Operations.

HONG KONG: CHINA NATURAL RESOURCES, INC. (NASDAQ: CHNR) (the "Company"), a company based in the People's Republic of China (the "PRC"), today announced its results of operations for the year ended December 31, 2019 as follows.

CHINA NATURAL RESOURCES, INC.

CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

FOR THE YEARS ENDED DECEMBER 31, 2017, 2018 AND 2019

(Amounts in thousands, except per share data)

Year Ended December 31,

2017

2018

2019

2019

CNY

CNY

CNY

US$

CONTINUING OPERATIONS

Revenue

--

--

12,969

1,863

Cost of sales

--

--

(12,752)

(1,831)

Gross profit

--

--

217

32

Selling and distribution expenses

--

--

(2)

--

Administrative expenses

(6,204)

(6,207)

(5,814)

(835)

OPERATING LOSS

(6,204)

(6,207)

(5,599)

(803)

Finance costs

(14)

5

(62)

(9)

Interest income

39

26

16

2

LOSS BEFORE INCOME TAX FROM

CONTINUING OPERATIONS

(6,179)

(6,176)

(5,645)

(810)

INCOME TAX EXPENSE

--

--

--

--

LOSS FOR THE YEAR FROM CONTINUING

OPERATIONS

(6,179)

(6,176)

(5,645)

(810)

DISCONTINUED OPERATIONS

Loss for the year from discontinued operations, net

of tax

(23,817)

--

--

--

LOSS FOR THE YEAR

(29,996)

(6,176)

(5,645)

(810)

ATTRIBUTABLE TO:

Owners of the Company

From continuing operations

(6,179)

(6,176)

(5,645)

(810)

From discontinued operations

(23,817)

--

--

--

(29,996)

(6,176)

(5,645)

(810)

Non-controlling interests

From continuing operations

--

--

--

--

From discontinued operations

--

--

--

--

--

--

--

--

(29,996)

(6,176)

(5,645)

(810)

LOSS PER SHARE ATTRIBUTABLE TO

OWNERS OF THE COMPANY:

Basic and diluted

- For loss from continuing operations

(0.25)

(0.25)

(0.23)

(0.03)

- For loss from discontinued operations

(0.95)

--

--

--

- Net loss per share

(1.20)

(0.25)

(0.23)

(0.03)

The consolidated statements of profits or loss of the Company for the years ended December 31, 2017, 2018 and 2019 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, 2019 contained in the Company's Annual Report on Form 20-F as filed with the Commission on June 12, 2020.

Mr. Wong Wah On Edward, the Company's Chairman, commented on the results: "During 2019, we undertook additional exploration activities and sample analysis at the Moruogu Tong Mine located in the Inner Mongolia Autonomous Region in...