Company: CHNR
Filing Date: 2025-05-15
Form Type: 424B5
Source: 0001079973-25-000830
Chunk: 70

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-05-15
Form: 424B5
Chunk 70
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, we cannot predict whether or for how long we will be able to obtain such approval or complete such filing.

The M&A Rules require
an overseas special purpose vehicle formed for listing purposes through acquisitions of PRC domestic companies and controlled by PRC persons
or entities to obtain the approval of the CSRC prior to the listing and trading of such special purpose vehicle’s securities on
an overseas stock exchange. The interpretation and application of the regulations remain unclear, and our offshore offerings may ultimately
require approval of the CSRC. If the CSRC approval is required, it is uncertain whether we can or how long it will take us to obtain the
approval and, even if we successfully obtain such CSRC approval, the approval could be rescinded. Any failure to obtain or delay in obtaining
the CSRC approval for any of our offshore offerings, or a rescission of any successfully obtained approvals, would subject us to sanctions
imposed by the CSRC or other PRC regulatory authorities. Sanctions could include fines and penalties on our operations in China, restrictions
or limitations on our ability to pay dividends outside of China, and other forms of sanctions that may materially and adversely affect
our business, financial condition and results of operations.

On July 6, 2021, PRC government
authorities issued the Opinions on Strictly Cracking Down on Illegal Securities Activities in Accordance with the Law. These opinions
emphasized the need to strengthen the administration over illegal securities activities and the supervision on overseas listings by China-based
companies. They proposed to take measures such as promoting the construction of relevant regulatory systems to deal with the risks and
incidents faced by China-based overseas listed companies.

| 15 |

On December 24, 2021, the
State Council issued the Draft Provisions and the CSRC issued the Draft Administrative Measures for public comment. The Draft Provisions
and the Draft Administrative Measures propose to establish a new filing-based regime to regulate overseas offerings of stock, depository
receipts, convertible corporate bonds or other equity securities, and overseas listing of these securities for trading, by PRC companies.
According to the Draft Provisions and the Draft Administrative Measures, an overseas offering and listing by a domestic company, whether
directly or indirectly, shall be filed with the CSRC. Specifically, the examination and determination of an indirect offering and listing
will be conducted on a substance-over-form basis, and an offering and listing shall be considered as an indirect overseas offering and
listing by a domestic company if