Company: CHNR
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001079973-25-000143
Chunk: 227

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-01-27
Form: POS AM
Chunk 227
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) is recognized to the extent that (a) the Group has an unconditional right to receive cash or another financial
asset from or at the direction of the grantor for the construction services rendered and/or the consideration paid and payable by the
Group for the right to charge users of the public service; and (b) the grantor has little, if any, discretion to avoid payment, usually
because the agreement is enforceable by law. The Group has an unconditional right to receive cash or another financial asset if nothing
other than the passage of time is required before payment of the consideration is due and the grantor contractually guarantees to pay
the Group (a) specified or determinable amounts or (b) the shortfall, if any, between amounts received from users of the public service
and specified or determinable amounts, even if the payment is contingent on the Group ensuring that the infrastructure meets specified
quality of efficiency requirements. The financial asset (receivable under service concession arrangement) is accounted for in accordance
with the policy set out for loans and receivables under “(i) Investments and other financial assets”.

An intangible asset
(concession right) is recognized to the extent that the Group receives a right to charge users of the public service, which is not an
unconditional right to receive cash because the amounts are contingent on the extent that the public uses the service. The intangible
asset (concession right) is accounted for in accordance with the policy set out for “(e) Intangible assets (other than goodwill)”.

Construction services

If the Group is paid
partly with a financial asset and partly with an intangible asset, each component of the consideration is accounted for separately and
the consideration received or receivable for both components will be recognized initially at the fair value of the consideration received
or receivable.

Revenue relating to construction
is accounted for in accordance with the policy set out for “Revenue from contracts with customers - Construction services”
below.

| F-29 |

| 2.5 |     | MATERIAL ACCOUNTING  
 POLICIES (CONTINUED) |

| (z) | Service concession arrangement - Discontinued Operations (continued) |

Operating services

Revenue relating
to operating services is accounted for in accordance with the policy for “(aa) Revenue recognition-Revenue from contracts
with customers-Operation services of service concession arrangements” below. Costs for operating services are expensed in the period
in which they are incurred.

| (aa) | Revenue recognition – Dis