There is no fundamental reason why CHNR stock is up 2.33% in the after-hours trading session at the price of $1.32. CHNR is engaged in the acquisition and exploitation of mining rights in Inner Mongolia. It is actively exploring business opportunities in the healthcare and other non-natural resource sectors.
CHNR Acquired Precise Space-Time Technology
On 27th July 2021, CHNR published that it had acquired Precise Space-Time Technology for almost 104.1 million Chinese Yuan (US$16.1 million). It is a 20% discount on the value of Precise Space-Time Technology as determined by an independent valuation firm. The considerations are composed of 120 million shares of Feishang Anthracite Resources Limited held by the company. The Precise Space-Time Technology owns a 51% equity interest in Shanghai Onway. Shanghai Onway is engaged in the provision of equipment for engineering, procurement, and construction services for wastewater treatment in China.
China Natural Resources Published Full Year 2020 Results
On 23rd April 2021, CHNR announced its results for the year ended 31st December 2020. CEO of CHNR, Mr. Wong Wah On Edward, stated that their business was affected badly by the COVID-19 pandemic. The business disruption had an adverse financial impact as they ensured compliance with government controls and health policies. It dramatically slowed their strategic diversification into healthcare and other non-natural resource sectors. They took decisive measures to align their expenses to the reduced revenue profile by ceasing the copper trade. They also completed a private placement with institutional investors for US$7.3 million. It had strengthened the company’s balance sheet to continue strategic diversification. It also provided meaningful opportunities for sustained revenue growth and profitability.
CHNR reported revenue of US$1.05 million for the year ended 31st December 2020. For the full year ended 31st December 2019, revenue was US$1.98 million. Net income was 0.14 per share in the year ended 31st December 2020. Net loss was (0.04) per share for the previous full year. Operating loss was US$1.09 million for the year ended 31st December 2020. The operating loss was US$857,000 for the year ended 31st December 2019.
Appointment of Dr. Peng Wenlie as Vice President
On 23rd March 2021, CHNR announced the appointment of pharmaceutical industry executive Peng Wenlie as Vice President. It became effective on 22nd March 2021. Dr. Peng has more than 20 years of experience working in the industry. He will report directly to the Chairman, Mr. Wong Wah On Edward. He will be responsible for evaluating the investment opportunities in healthcare, biomedicine, and related markets.
