CHNR Stock
CHNR Stock

China Natural Resources, Inc. (CHNR) stock plummeted 6.98% in the current-market trading session at the price of $0.80 despite no fundamental reason. The last published news was its financial results for the first six months of 2021.

CHNR focused on the exploitation and acquisition of mining rights in Inner Mongolia. The company has recently joined the industry for wastewater treatment and is exploring more business opportunities in the healthcare and mining sectors.

CHNR First Half 2021 Financial Results

On 5th November 2021, CHNR published its financial results for the first six months ended on 30th June 2021. The company has a net loss of CNY26.74M for the first half of 2021. For the first half of 2020, the net loss was CNY2.74M. The company reported nil sales for the first half of 2021. Sales totaled CNY6.87M for the first six months of 2020. On 30th June 2021, CHNR has total cash of CNY32.54M.

Management Comments

Chairman of CHNR, Mr. Wong Wah On Edward, remarked that these results have not yet delivered the work they did to improve their revenue base. Their investments and strategic approach will take more time to achieve profitable growth. They are confident to make the business highly predictable and sustainable by diversifying non-natural resources sectors. They will soon be capable of producing higher returns for stakeholders, Mr. Wong added.

CHNR Acquired Precise Space-Time Technology

On 27th July 2021, CHNR announced to acquire Precise Space-Time Technology for consideration of $16.1M. It represents a 20% discount on the actual value proposed by an independent valuation firm. Precise Space-Time Technology Limited, through its subsidiaries, holds a 51% equity interest in Shanghai Onway Environmental Limited.

Management Comments

Mr. Wong stated that Precise Space-Time Technology’s strategic approach matches their business goals in the healthcare and mining sectors. They are excited to leverage Shanghai Onway to preserve water quality standards and lower environmental impacts during mining operations. They are dedicated to corporate social obligations and improving ties with the residents during operations. It will benefit their mining operations in the long term, he added.

LEAVE A REPLY

Please enter your comment!
Please enter your name here