BVI-registered company China Natural Resources, Inc. announced that it has completed its previously announced spin-off and listing by way of introducing on Hong Kong Stock Exchange of its wholly-owned subsidiary, Feishang Anthracite Resources Limited, which operated company’s coal mining and related businesses. After the Spin-Off, the BVI company intends to continue operating its non-ferrous metals mining and related businesses.
Based on the unaudited interim financial information of China Natural Resources and the audited interim financial information of its subsidiary as of and for the six months ended June 30, 2013: (i) the total assets and total liabilities of the BVI company as of June 30, 2013 were US$471.69 million and US$419.14 million, respectively, with the total assets and total liabilities of Feishang Anthracite as of the same date representing approximately 93.2% and 88.1% of the total assets and total liabilities of China Natural Resources; and (ii) the revenue of the Company in the six months ended June 30, 2013 was US$11.50 million, with the revenue of Feishang Anthracite in the same period representing approximately 77.6% of the revenue of the Company.