Company: CHNR
Filing Date: 2025-05-15
Form Type: 424B5
Source: 0001079973-25-000830
Chunk: 22

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-05-15
Form: 424B5
Chunk 22
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41 million), to Feishang Group, in exchange for all outstanding shares of PST Technology and the transfer to the Company
of approximately CNY130.0 million (US$17.81 million) of PST Technology’s outstanding debt previously owed to Mr. Li, which debt
was eliminated upon consolidation. PST Technology, through its wholly owned subsidiaries, owns a 51% equity interest in Shanghai Onway.
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 projects and public-private partnership (“PPP”) projects in relation to rural
wastewater treatment, and the provision of consulting and professional technical services. The total value of the consideration that the
Company provided to Mr. Li was approximately CNY104.1 million (US$14.26 million), which amount was a 20% discount to the valuation (including
the assigned debt) of PST Technology provided by an independent valuation firm.

On July 28, 2023, the Company
entered into a Sale and Purchase Agreement with Feishang Group Limited (“Feishang Group”). Pursuant to the agreement, the
Company agreed to sell 100% equity interest of PST Technology to Feishang Group, together with PST Technology’s outstanding payable
owed to the Company, for consideration of approximately CNY95,761,119 comprising: (i) CNY -34,197,300, the fair value of 100% equity interest
of PST Technology as determined by the independent valuation report dated July 28, 2023; (ii) CNY 129,958,419, the book value of PST Technology’s
outstanding payable owed to the Company.

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 continues engaging in the exploration
and mining business.

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Summary of Risk Factors

Investing in our Common Shares involves significant
risks. You should carefully consider the risks described below and under “Item 3. Key Information - D. Risk Factors” in our
annual report on Form 20-F