China Natural Resources Reports Full Year 2020 Results News provided by Share this article Share this article HONG KONG, April 23, 2021 /PRNewswire/ -- CHINA NATURAL RESOURCES, INC. (NASDAQ: CHNR) (the "Company") today announced its results of operations for the year ended December 31, 2020. For the convenience of the reader, amounts in Chinese Yuan ("CNY") have been translated into United States dollars ("US$") at the rate of US$1.00 = CNY6.5306 as quoted by www.ofx.com on December 31, 2020. Mr. Wong Wah On Edward, the Company's Chairman and Chief Executive Officer, commented on the results: "As with the rest of the world, our business was significantly impacted by the COVID-19 pandemic. The business disruption had a negative financial impact as we focused on ensuring the health of our employees and full compliance with government controls and health policies. This also dramatically slowed our Company's strategic diversification into healthcare and other non-natural resource sectors. On the financial front we took decisive measures to align our expenses to the reduced revenue profile after we ceased trading copper ore, while prioritizing our working capital usage of cash in the near term. The positive result of our actions and an exchange of our newly issued common shares for equity in Feishang Anthracite Resources Limited (Hong Kong ticker 1738) helped us achieve earnings of CNY 0.90 per share in 2020 compared to a loss of CNY 0.23 per share in 2019. We also recently completed a private placement with certain institutional investors in January 2021 for a total of US$7.3 million. This strengthened our balance sheet giving us the resources to actively continue the Company's strategic diversification, which we believe will provide meaningfully greater opportunities for sustained revenue growth and profitability, as we work to build value for shareholders."