Company: CHNR
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001079973-25-000143
Chunk: 201

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-01-27
Form: POS AM
Chunk 201
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 INC.

NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS

YEARS ENDED DECEMBER 31, 2021, 2022 AND 2023

(Amounts in thousands, except share and per share data)</div>

| 1. |     | ORGANIZATION AND PRINCIPAL ACTIVITIES |

China Natural Resources, Inc. (“CHNR”
or the “Company”) is a British Virgin Islands (“BVI”) holding company incorporated in 1993. The address of the
principal executive office is Room 2205, 22/F, West Tower, Shun Tak Centre, 168-200 Connaught Road Central, Sheung Wan, Hong Kong. The
Company’s principal activity is investment holding. The Company’s subsidiaries (collectively with CHNR, the “Group”)
are primarily involved in the exploration and mining and wastewater treatment businesses in the People’s Republic of China (“PRC”).

CHNR’s principal shareholder is Feishang
Group Limited (“Feishang Group” or the “Shareholder”), a BVI corporation. Mr. Li Feilie is the controlling shareholder
of Feishang Group. In the opinion of the directors of the Company (the “Directors”), the ultimate parent of CHNR is Laitan
Investment Limited, a BVI corporation.

As of 31 December 2023, the Company had
direct and indirect interests in the following subsidiaries, the particulars of which are set out below:

| Schedule of direct and indirect interests in subsidiaries |     |                    |     |               |     |                 |     |     |          |     |     |                                                          |
|                                                           |     | Place of           
 incorporation/     
 registration and   
 operations         |     | Nominal value 
 of issued     
 common/       
 registered    
 share capital |     | Percentage      
 of equity       
 attributable to 
 the Company     |     |     |          |     |     | Principal                                                
 activities                                               |
| Name                                                      |     |                    |     |               |     | Direct          |     |     | Indirect |     |     |                                                          |
| China Coal Mining Investment Limited                      
 (“China Coal”)                                            |     | Hong Kong          |     | *             |     |                 | 100 |     |          |   — |     | Investment holding                                       |
| FMH Corporate Services Inc.                               |     | United States      |     | *             |     |                 | 100 |     |          |