- China Natural Resources (CHNR, Financial) reduced its net loss by 75% to CNY3.16 million (US$0.43 million) in FY2024 from CNY12.44 million in 2023.
- Administrative expenses decreased by CNY5.68 million to CNY7.20 million, attributed to reduced professional fees.
- Fair value gain on financial instruments increased significantly to CNY4.00 million from CNY0.85 million in 2023.
China Natural Resources Inc. (NASDAQ: CHNR) has reported a significant improvement in its financial performance for fiscal year 2024. The company managed to reduce its net loss by 75%, achieving a loss of CNY3.16 million (US$0.43 million), a substantial decrease from the CNY12.44 million reported in 2023. This improvement comes despite ongoing market challenges linked to trade frictions and geopolitical tensions.
The reduction in net loss was primarily driven by a decrease in administrative expenses, which fell by CNY5.68 million to CNY7.20 million due to lowered professional fees such as legal and audit costs. Furthermore, the company reported a notable rise in fair value gain on financial instruments, which climbed to CNY4.00 million from CNY0.85 million, reflecting the positive impact of warrant valuation fluctuations.
However, China Natural Resources faced a decrease in other income, dropping sharply to CNY2,000 from CNY3.74 million due to the lack of government compensation received in the previous year for terminated mine exploration rights. The cash position also declined, with cash and equivalents standing at CNY3.08 million (US$422,000) as of December 31, 2024, compared to CNY4.75 million at the end of the previous year.
Despite these challenges, CHNR continues to focus on value exploration opportunities at the Wulatehouqi Moruogu Tong Mine. The company is also looking into the acquisition of Williams Minerals, aiming to expand its operations in the lithium mining sector in Zimbabwe.
