Company: CHNR
Filing Date: 2025-05-15
Form Type: 424B5
Source: 0001079973-25-000830
Chunk: 71

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-05-15
Form: 424B5
Chunk 71
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 the issuer meets the following conditions: (i) the operating income, gross profit, total assets, or net
assets of the domestic enterprise in the most recent fiscal year was more than 50% of the relevant line item in the issuer’s audited
consolidated financial statements for that year; and (ii) senior management personnel responsible for business operations and management
are mostly PRC citizens or are ordinarily resident in the PRC, and the main place of business is in the PRC or business is mainly carried
out in the PRC. According to the Draft Administrative Measures, the issuer or its affiliated domestic company, as the case may be, shall
file with the CSRC for its initial public offering, follow-on offering and other equivalent offering activities. Particularly, the issuer
shall submit the filing with respect to its initial public offering and listing within three business days after its initial filing of
the listing application, and submit the filing with respect to a follow-on offering within three business days after completion of the
follow-on offering. Failure to comply with the filing requirements may result in fines to the relevant domestic companies, suspension
of their businesses, revocation of their business licenses and operation permits and fines on the controlling shareholder and other responsible
persons. The Draft Administrative Measures also sets forth certain regulatory red lines for overseas offerings and listings by domestic
enterprises.

As of the date of this prospectus,
the Draft Provisions and the Draft Administrative Measures have been released for public comment only, and therefore, filing or approval
under the Draft Administrative Measures is not necessary at present. However, there are uncertainties as to whether the Draft Provisions
and the Draft Administrative Measures would be further amended, revised or updated. Substantial uncertainties exist with respect to the
enactment timetable and final content of the Draft Provisions and the Draft Administrative Measures. As the CSRC may formulate and publish
guidelines for filings in the future, the Draft Administrative Measures do not provide for detailed requirements of the substance and
form of the filing documents. In a Q&A released on its official website, the respondent CSRC official indicated that the CSRC will
start applying the filing requirements to new offerings and listings. Only new initial public offerings and refinancing by existing overseas
listed Chinese companies will be required to go through the filing process. As for the filings for the existing companies, the regulator
will grant an adequate transition period to complete their filing procedures. Given the substantial uncertainties surrounding the latest
CSRC filing requirements at this stage, we