BEIJING (dpa-AFX) - China Natural Resources, Inc. (CHNR), a Chinese minerals and coal resources company, on Tuesday recorded a narrower net loss for the first-half, compared to the prior year.
For the six-month period to June 30, the company reported net loss from continuing operations of Chinese Yuan or CNY0.122 million or CNY0.01 per share, narrower than loss of CNY4.506 million or CNY0.55 per share, registered for the same period last year.
The narrower loss was mainly due to gain in fair value of financial instruments- warrants, and the disposal of loss-generating water treatment business in 2023.
Fair value on financial instruments was a gain of CNY3.86 million as against loss of CNY0.09 million last year. The amount represented the fluctuation of fair values of the firm's outstanding warrants.
Loss from discontinued operations was nil, compared with the prior year's loss of CNY6.236 million or CNY0.76 per share. Last year's loss was the result of an expected credit loss assessment of receivables and contract assets, due to the amount of uncollected and aged receivables and contract assets was relatively higher than the amount in 2022.
Total net loss per share was CNY0.01, compared to loss of CNY1.31 per share a year ago.
Loss before income tax moved down to CNY0.122 million from CNY4.506 million in 2023.
CHNR was up by 16.70 percent at $0.735 in the pre-market trade on the Nasdaq.
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