Company: CHNR
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001079973-25-000143
Chunk: 123

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-01-27
Form: POS AM
Chunk 123
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 the first half
of 2020. We discontinued our copper ore trading activities in the second half of 2020, due to volatile fluctuations in the price of copper.
Our copper ore trading activities were not affected by seasonality.

DISCONTINUED SEGMENT - Rural Wastewater Treatment Activities

Acquisition and Sale of PST Technology

We no longer operate
in the rural wastewater treatment segment following the sale of PST Technology in July 2023, which was one of our two reportable operating
segments in addition to exploration and mining.

We diversified our business
by entering the environmental protection sector through the acquisition of PST Technology in 2021. PST Technology, through its wholly
owned subsidiaries, owns a 51% equity interest in Shanghai Onway and Shanghai Onway’s subsidiaries which are principally engaged
in the development of rural wastewater treatment technologies, the provision of equipment and materials for rural wastewater treatment,
undertaking EPC and PPP projects in relation to rural wastewater treatment, and the provision of consulting and professional technical
services. After PST Technology’s disposition, the Company discontinued the operation in wastewater treatment segment and continue
engaging in the exploration and mining business. For details, see “Corporate History and Structure —
Acquisition and Sale of PST Technology.”

Overview of Shanghai Onway

Shanghai Onway is an environmental
protection technology enterprise incorporated in July 2015 in the PRC. The registered capital of Shanghai Onway is approximately CNY20.41
million. It is currently 51% owned by Shenzhen Qianhai (an indirect wholly owned subsidiary of the Company prior to the sale of PST Technology
in July 2023), 25% owned by Anxon Envirotech Pte. Ltd (a direct wholly owned subsidiary of AnnAik Limited, which is listed on the Singapore
Stock Exchange under ticker “A52”), and 24% owned by Shanghai Xingyu Environment Engineering Co., Ltd. Shanghai Onway is principally
engaged in the development of rural wastewater treatment technologies, the provision of equipment and materials for rural wastewater treatment,
undertaking EPC and PPP projects in relation to rural wastewater treatment, and the provision of consulting and professional technical
services.

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During its time as a subsidiary
of the Company, Shanghai Onway had a team of well-regarded experts with deep industry experience in the field of wastewater treatment
and carries out its rural wastewater treatment business using proprietary wastewater treatment technologies including five patents, namely
(i) bio-trickling