Company: CHNR
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001079973-25-000143
Chunk: 270

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-01-27
Form: POS AM
Chunk 270
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”), entities controlled by Mr.
Li Feilie, the principal beneficial shareholder of the Company, which state that Feishang Group and Feishang Enterprise will provide continuous
financial support to the Group in relation to the going concern of its operations, and will not recall any amounts due to them until the
Group has sufficient liquidity to finance its operations. Feishang Enterprise’s letter also states that it will pay debts on behalf
of the Group when needed. Accordingly, in the opinion of the directors, it is appropriate for the financial statements to be prepared
on a going concern basis, and not less than 12 months from the end of the reporting period.

The interim condensed consolidated financial
statements do not include all the information and footnotes required by International Financial Reporting Standards (“IFRS”)
for complete financial statements, and should be read in conjunction with the consolidated financial statements and footnotes thereto
included in the Group’s annual report on Form 20-F for the year ended December 31, 2023 (the “2023 Annual Report”).

The condensed consolidated financial statements
include the accounts of CHNR and those subsidiaries in which CHNR has direct or indirect controlling interests. The Company’s subsidiaries
as of June 30, 2024 are as described in the 2023 Annual Report.

For the convenience of readers, amounts in
Renminbi, the Chinese currency (“CNY”), have been translated into United States dollars (“US$”) at the applicable
rate of US$1.00 = CNY7.2673 as quoted by www.ofx.com as of June 30, 2024, except as otherwise disclosed. No representation is made that
the CNY amounts could have been, or could be, converted into US$ at that rate, or at all.

| F-92 |

| CHINA NATURAL RESOURCES, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)(Amounts in thousands, except share and per share data) |

| 2.2 | CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES |

The accounting policies adopted in the
preparation of the interim condensed consolidated financial information are consistent with those applied in the preparation of the Group’s
annual consolidated financial statements for the year ended December 31, 2023, except for the adoption of the following new and revised
IFRS for the first time for the current period’s financial information.

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