Monthly Archives: December 2011

China Natural Resources published financial results for three months

Last week, British Virgin Islands-registered and China-based company China Natural Resources, Inc. released unaudited interim financial results for the three and six month period ended June 30, 2011. For the three month period, company’s net sales were US$9,56 million, and gross profit was US$3,39 million. Average number of outstanding shares, both basic and diluted, was 22,748,141. In the three months ended June 30, 2011, the BVI company reported net loss in the amount of US$1,09 million.

The Chairman and CEO of the BVI company Mr. Feilie Li said in his comments on the 2011 interim results: “In view of the continuing economic growth in the PRC, we believe that demand for coal will continue to be robust in the foreseeable future. We are positive about the prospects for the coal mining industry in the PRC and we will continue to pursue growth through acquisition and consolidation of small to medium sized coal mines.”

BVI-registered Euro Tech Holdings Company Limited reports interim results for six months period

Euro Tech Holdings Company Limited, the company incorporated in the British Virgin Islands and headquartered in Hong Kong, announced its unaudited financial results for the six months ended June 30, 2011. BVI company’s revenues for the reported period were approximately US$9,554,000, this is a 7.8% decrease as compared to approximately US$10,363,000 for the six months ended June 30, 2010.

For the six months ended June 30, 2011, the BVI company reported net income in the amount of US$1,330,000. At the same time, the further drop of revenues from trading business was US$2,139,000.

Company’s operating results changed from the loss for the six months ended June 30, 2010 to a net income for the six months ended June 30, 2011 – principally due to the reduction of selling and administrative expenses of approximately US$428,000.