Company: CHNR
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001079973-25-000143
Chunk: 96

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-01-27
Form: POS AM
Chunk 96
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.04 million for the year ended December 31, 2022 to a loss of CNY4.11 million for the period ended July
28, 2023. The loss in 2023 was the result of an expected credit loss assessment of receivables and contract assets, due to the fact that
the amount of uncollected and aged receivables and contract assets was relatively higher than the amount in 2022.

Net Profit/(Loss).As a result of the foregoing, our net loss decreased by CNY9.86 million from CNY22.30 million for the year ended December 31, 2022
to CNY12.44 million for the year ended December 31, 2023.

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Years Ended December 31, 2022 and 2021

Administrative Expenses.Administrative expenses increased by CNY14.17 million from CNY11.08 million for the year ended December 31,
2021 to CNY25.25 million for the year ended December 31, 2022. The increase was mainly caused by the option awards granted
on July 14, 2022 to certain eligible individuals covering an aggregate of 8,100,000 of the Company’s common shares under the 2014
Plan.

Other Income.Other income increased by CNY0.10 million from CNY0.60 million for the year ended December 31, 2021 to CNY0.70
million for the year ended December 31, 2022. The increase in other income was mainly caused by other income relating to impairment
reversal of other receivables, which were fully impaired and written off in prior years but collected in 2022, and other loss relating
to the return of tax refund to tax authorities in 2021.

Fair Value Gain/(Loss) on Financial Instruments, net.Fair value gain on financial instruments, net increased by CNY39.36 million from CNY38.35 million
of loss for the year ended December 31, 2021 to CNY1.01 million of gain for the year ended December 31, 2022. The increase
was caused by the fluctuation of fair values of the Company’s outstanding warrants in both years and the disposition of the FARL
shares in 2021.

Finance Costs.Finance costs increased by CNY0.36 million from a negative of CNY0.17 million for the year ended December 31