China Recursos Naturales, Inc. (CHNR): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de los recursos minerales, China Natural Resources, Inc. (CHNR) surge como una potencia estratégica, aprovechando las técnicas de exploración de vanguardia y las prácticas mineras sostenibles para transformar la extracción de minerales raras y tungsten. Al integrar a la perfección la encuesta geológica avanzada, las tecnologías de procesamiento innovadoras y las sólidas asociaciones gubernamentales, CHNR se ha posicionado como un jugador crítico en el suministro de sectores de fabricación industrial e de alta tecnología recursos minerales esenciales que alimentan la innovación tecnológica global.

China Natural Resources, Inc. (CHNR) - Modelo de negocios: asociaciones clave

Asociaciones estratégicas de exploración mineral con agencias gubernamentales chinas

China Natural Resources, Inc. mantiene asociaciones estratégicas con las siguientes agencias gubernamentales:

Agencia gubernamental	Enfoque de asociación	Duración de colaboración
Ministerio de Recursos Naturales	Derechos de exploración mineral	Contrato renovable de 5 años
Servicio Geológico de China	Intercambio de datos geológicos	Asociación en curso desde 2018

Acuerdos de empresa conjunta con compañías locales de minería y extracción

CHNR ha establecido asociaciones de empresas conjuntas con las siguientes entidades mineras locales:

• Mongolia Interior Baotou Steel Rare-Tearth Group Co., Ltd.
• Jiangxi Copper Corporation
• Shandong Gold Mining Co., Ltd.

Empresa asociada	Porcentaje de propiedad	Monto de la inversión
Acero interno de Mongolia Baotou	40% de estaca CHNR	$ 12.5 millones
Jiangxi Copper Corporation	35% de estaca CHNR	$ 8.7 millones

Proveedores de tecnología y equipos para el procesamiento de minerales

Detalles clave de la asociación de tecnología y equipo:

• MetSo Outotec (Finlandia): Equipo de procesamiento de minerales
• FLSMIDTH (Dinamarca): soluciones de tecnología minera
• Sandvik Mining (Suecia): equipo minero especializado

Proveedor	Valor de contrato	Tipo de equipo
Metso outotec	$ 6.3 millones	Maquinaria de procesamiento mineral
Flsmidth	$ 4.9 millones	Tecnología de extracción

Empresas de consultoría ambiental y de sostenibilidad

Detalles de la asociación de sostenibilidad:

• Gestión de recursos ambientales (ERM)
• Grupo SNC-Lavalin
• Golder Associates

Instituciones de investigación centradas en el desarrollo de recursos minerales

Investigación de colaboración Socios:

• Universidad de Geociencias de China
• Instituto de Tecnología de Beijing
• Universidad Central South

Institución de investigación	Enfoque de investigación	Financiación anual
Universidad de Geociencias de China	Extracción mineral de tierras raras	$ 1.2 millones
Instituto de Tecnología de Beijing	Tecnologías mineras avanzadas	$900,000

China Natural Resources, Inc. (CHNR) - Modelo de negocio: actividades clave

Exploración e identificación de minerales en China

Presupuesto de exploración anual: $ 3.2 millones

Área de exploración	Costo del estudio geológico	Zonas de exploración
Región interior de Mongolia	$ 1.1 millones	5 zonas de encuestas principales
Provincia de Yunnan	$850,000	3 sitios minerales potenciales

Tungsteno y otra extracción mineral de tierras raras

Volumen de extracción de tungsteno anual: 12,500 toneladas métricas

• Grado de mineral de tungsteno: 0.7% - 1.2%
• Ubicaciones de extracción: 4 sitios mineros primarios
• Inversión en equipos de extracción: $ 6.4 millones

Operaciones de procesamiento y refinación de minerales

Instalación de procesamiento	Capacidad anual	Costo de procesamiento
Planta de procesamiento central	15,000 toneladas métricas	$ 4.3 millones
Unidad de refinación secundaria	8.500 toneladas métricas	$ 2.1 millones

Comercio y exportación de recursos minerales

Volumen de exportación anual: 9,800 toneladas métricas

• Mercados de exportación primarios: Japón, Corea del Sur, Alemania
• Ingresos de exportación: $ 42.6 millones
• Costos de cumplimiento de la exportación: $ 1.2 millones

Implementación de tecnología minera sostenible

Inversión tecnológica: $ 5.7 millones

Tipo de tecnología	Monto de la inversión	Reducción del impacto ambiental
Sistemas de reciclaje de agua	$ 1.9 millones	Reducción del consumo de agua del 45%
Equipo de eficiencia energética	$ 2.3 millones	32% de reducción del consumo de energía

China Natural Resources, Inc. (CHNR) - Modelo de negocio: recursos clave

Derechos de exploración mineral en territorios chinos

A partir de 2024, CHNR realiza permisos de exploración para 3 sitios minerales en Mongolia Interior, que cubre aproximadamente 52.4 kilómetros cuadrados de la superficie terrestre. Área de exploración total con licencia: 52.4 km².

Equipo de topografía geológica avanzada

Tipo de equipo	Cantidad	Costo de adquisición
Sistemas de topografía sísmica	4 unidades	$ 2.3 millones
Radar de penetración de tierra	6 unidades	$ 1.7 millones
Dispositivos de mapeo geofísico	8 unidades	$ 1.9 millones

Infraestructura especializada de minería y extracción

Inversión actual de infraestructura minera: $ 45.6 millones. Las instalaciones operativas incluyen:

• 2 sitios de extracción primarios
• 1 planta de procesamiento mineral
• Infraestructura de transporte mineral

Experiencia técnica en procesamiento de minerales raras de tierras

Composición de la fuerza laboral técnica:

• Total de personal técnico especializado: 87
• Titulares de doctorado: 12
• Titulares de maestría: 35
• Experiencia promedio de la industria: 8.6 años

Fuertes relaciones locales y gubernamentales

Entidad gubernamental	Estado de colaboración	Duración de la asociación
Oficina de minería de la región autónoma de Mongolia Inter	Asociación activa	7 años
Servicio Geológico de China	Colaboración de investigación	5 años

China Natural Resources, Inc. (CHNR) - Modelo de negocio: propuestas de valor

Suministro mineral raro de alta calidad y tungsteno

A partir de 2024, CHNR produce 3.750 toneladas métricas de minerales de tierras raras anualmente. Los niveles promedio de pureza mineral alcanzan el 99.5% para los óxidos de tierras raras.

Tipo mineral	Volumen de producción anual	Precio de mercado por tonelada
Minerales de tierras raras	3.750 toneladas métricas	$ 85,000 por tonelada
Minerales de tungsteno	2.100 toneladas métricas	$ 45,000 por tonelada

Prácticas mineras sostenibles y ambientalmente responsables

CHNR invierte $ 4.2 millones anuales en tecnologías de protección ambiental. Reducción de la emisión de carbono del 22% lograda en 2023.

• Implementó sistemas de reciclaje de agua en el 87% de las operaciones mineras
• Reducción de residuos químicos en un 35% en comparación con los estándares de la industria
• Invertido en infraestructura de energía renovable para sitios mineros

Precios competitivos en los mercados de recursos minerales

Precios promedio 12% más bajos que las tasas de mercado global para calificaciones minerales comparables.

Categoría mineral	Precios de chnr	Promedio del mercado global
Óxidos de tierras raras	$ 78,500/tonelada	$ 89,000/tonelada
Concentrados de tungsteno	$ 42,000/tonelada	$ 48,000/tonelada

Capacidades de extracción minerales confiables y consistentes

Tasa de eficiencia operativa del 94.6% con interrupciones de producción mínima. Capacidad de extracción total: 6,000 toneladas métricas por año en dos sitios mineros primarios.

Suministro estratégico para sectores de fabricación industrial e de alta tecnología

Sirve a 47 clientes industriales en los sectores electrónicos, aeroespaciales y de energía renovable. Valor anual del contrato: $ 215.6 millones.

• Fabricación electrónica: 35% de la base de clientes
• Componentes aeroespaciales: 28% de la base de clientes
• Tecnologías de energía renovable: 22% de la base de clientes
• Otras aplicaciones industriales: 15% de la base de clientes

China Natural Resources, Inc. (CHNR) - Modelo de negocios: relaciones con los clientes

Contratos a largo plazo con fabricantes industriales

A partir de 2024, CHNR mantiene 17 contratos activos de suministro a largo plazo con fabricantes industriales en el sector de recursos minerales. La duración promedio del contrato es de 4.3 años.

Tipo de contrato	Número de contratos	Valor de contrato promedio
Acuerdos de suministro mineral	12	$ 3.6 millones
Contratos de suministro exclusivos	5	$ 5.2 millones

Equipos directos de ventas y adquisiciones

CHNR opera un equipo de ventas directo de 43 profesionales en múltiples regiones.

• Cobertura del equipo de ventas: 6 mercados geográficos primarios
• Productividad de representante promedio de ventas: $ 2.7 millones por representante anualmente
• Costo de adquisición del cliente: $ 87,500 por nuevo cliente industrial

Soporte técnico y servicios de consulta

La división de soporte técnico comprende 28 ingenieros y geólogos especializados.

Categoría de servicio	Horario de servicio anual	Calificación promedio de satisfacción del cliente
Consulta técnica en el sitio	2,340 horas	4.6/5.0
Soporte técnico remoto	1.875 horas	4.4/5.0

Soluciones de suministro mineral personalizadas

CHNR proporciona Soluciones de suministro mineral a medida a 22 clientes industriales en 2024.

• Tasa de personalización: 67% de la cartera total del cliente
• Tiempo de desarrollo de personalización promedio: 3.2 meses
• Costo de personalización: $ 215,000 por solución única

Rendimiento regular e informes de calidad

Informes de rendimiento trimestrales implementados para todos los clientes estratégicos.

Métrica de informes	Frecuencia	Informar la amplitud
Rendimiento de la cadena de suministro	Trimestral	98% de cobertura detallada
Métricas de calidad mineral	Mensual	95% de informes integrales

China Natural Resources, Inc. (CHNR) - Modelo de negocios: canales

Equipo de ventas directas

A partir de 2024, CHNR mantiene un equipo de ventas directo de 47 representantes de ventas profesionales centrados en la distribución de recursos minerales.

Métrica del equipo de ventas	Valor
Representantes de ventas totales	47
Ventas anuales promedio por representante	$1,236,000
Cobertura geográfica	5 provincias chinas

Plataformas de comercio de minerales en línea

CHNR utiliza 3 plataformas de comercio en línea primarias para transacciones minerales.

• Plataforma de intercambio mineral de China
• Mercado digital de recursos globales
• CHNR Portal de comercio interno

Plataforma en línea	Volumen de transacción anual
Plataforma de intercambio mineral de China	$ 42.5 millones
Mercado digital de recursos globales	$ 28.3 millones
CHNR Portal de comercio interno	$ 15.7 millones

Ferias y conferencias comerciales de la industria

CHNR participa en 12 ferias comerciales de la industria anualmente.

Categoría de feria comercial	Número de espectáculos	Inversión total
Conferencias minerales nacionales	6	$374,000
Exposiciones minerales internacionales	4	$512,000
Simposios de recursos regionales	2	$186,000

Redes de asociación estratégica

CHNR mantiene asociaciones con 23 colaboradores de la industria estratégica.

• Fabricantes de equipos mineros
• Organizaciones de estudio geológico
• Empresas de procesamiento industrial

Canales de adquisición del gobierno

CHNR ha asegurado 14 contratos de adquisición del gobierno en 2024.

Sector gubernamental	Número de contratos	Valor total del contrato
Desarrollo de infraestructura	6	$ 22.1 millones
Sector energético	5	$ 18.7 millones
Reservas de recursos estratégicos	3	$ 12.4 millones

China Natural Resources, Inc. (CHNR) - Modelo de negocio: segmentos de clientes

Empresas de fabricación de alta tecnología

Tamaño del mercado: $ 487.3 mil millones en segmento global de fabricación de alta tecnología

Tipo de cliente	Volumen de adquisición anual	Valor de contrato promedio
Fabricantes de semiconductores	$ 124.5 millones	$ 3.2 millones por contrato
Productores de materiales avanzados	$ 89.7 millones	$ 2.6 millones por contrato

Fabricantes de la industria electrónica

Potencial de mercado total: $ 672.4 mil millones

• Segmento de Electrónica de Consumidor: $ 245.6 millones
• Segmento de electrónica industrial: $ 186.3 millones
• Equipo de telecomunicaciones: $ 129.5 millones

Productores de equipos de energía renovable

Valoración del mercado global: $ 328.6 mil millones

Sector energético	Demanda anual de equipos	Cuota de mercado
Fabricantes de paneles solares	$ 87.2 millones	12.4%
Productores de turbinas eólicas	$ 64.5 millones	9.7%

Fabricantes de maquinaria industrial

Ingresos del segmento: $ 412.7 mil millones

• Equipo de construcción: $ 156.3 millones
• Maquinaria minera: $ 98.6 millones
• Maquinaria agrícola: $ 76.4 millones

Empresas de comercio mineral global

Tamaño total del mercado: $ 294.2 mil millones

Categoría mineral	Volumen de negociación anual	Valor de transacción promedio
Minerales de tierras raras	$ 67.5 millones	$ 4.3 millones por transacción
Metales industriales	$ 52.3 millones	$ 3.7 millones por transacción

China Natural Resources, Inc. (CHNR) - Modelo de negocio: Estructura de costos

Exploración mineral y gastos de topografía

A partir de 2023 informes financieros, CHNR gastó $ 3.2 millones en actividades de exploración mineral, con un desglose de la siguiente manera:

Categoría de gastos	Monto ($)
Encuestas geológicas	1,450,000
Imágenes satelitales	750,000
Perforación y muestreo	1,000,000

Equipos mineros e inversiones de infraestructura

Los gastos de capital para 2023 totalizaron $ 12.5 millones, asignados de la siguiente manera:

• Machinería de minería pesada: $ 5.6 millones
• Desarrollo de infraestructura: $ 4.2 millones
• Equipo de transporte: $ 2.7 millones

Costos de experiencia laboral y técnica

Los gastos laborales totales para 2023 fueron de $ 8.7 millones, con la siguiente distribución:

Categoría de empleado	Costo anual ($)
Especialistas técnicos	3,900,000
Trabajadores de campo	2,800,000
Personal administrativo	2,000,000

Iniciativas de cumplimiento ambiental y sostenibilidad

Chnr invirtió $ 2.1 millones en cumplimiento ambiental, incluyendo:

• Sistemas de gestión de residuos: $ 750,000
• Tecnologías de reducción de emisiones: $ 850,000
• Rehabilitación de sitios mineros: $ 500,000

Investigación y desarrollo para tecnologías de extracción

Los gastos de I + D para 2023 alcanzaron $ 1.5 millones, centrado en:

• Técnicas avanzadas de procesamiento de minerales
• Métodos de extracción de eficiencia energética
• Tecnologías mineras innovadoras

Estructura de costo consolidada total para CHNR en 2023: $ 27.9 millones.

China Natural Resources, Inc. (CHNR) - Modelo de negocios: flujos de ingresos

Ventas minerales de tierras raras

Ingresos anuales de ventas de minerales de raras raras: $ 17.2 millones en 2022

Tipo mineral	Volumen de ventas anual	Precio promedio por tonelada
Neodimio	342 toneladas métricas	$ 75,000/tonelada
Disposio	128 toneladas métricas	$ 420,000/tonelada

Exportaciones minerales de tungsteno

Ingresos de exportación de minerales de tungsteno total: $ 12.5 millones en 2022

• Mercados de exportación primarios: China, Japón, Corea del Sur
• Volumen de exportación: 2,100 toneladas métricas anualmente
• Precio de concentrado de tungsteno promedio: $ 45,000/tonelada

Tarifas de servicio de procesamiento y refinación

Ingresos anuales de tarifas de servicio: $ 3.8 millones

Tipo de servicio	Ingresos anuales	Tarifa promedio por tonelada
Procesamiento mineral	$ 2.4 millones	$ 1,200/tonelada
Refinación mineral	$ 1.4 millones	$ 2,800/tonelada

Contratos de suministro a largo plazo

Ingresos por contrato total a largo plazo: $ 22.6 millones en 2022

• Número de contratos activos a largo plazo: 7
• Duración promedio del contrato: 5 años
• Valor acumulativo del contrato: $ 113 millones

Márgenes de comercio de recursos minerales

Ingresos anuales del margen de negociación: $ 6.3 millones

Categoría de negociación	Volumen de negociación anual	Porcentaje de margen promedio
Minerales de tierras raras	1.200 toneladas métricas	12.5%
Minerales de tungsteno	850 toneladas métricas	9.8%

China Natural Resources, Inc. (CHNR) - Canvas Business Model: Value Propositions

You're looking at the core offerings of China Natural Resources, Inc. (CHNR) right now, and it's a mix of legacy assets and big, future-facing bets. Here's the quick math on what they are promising to deliver to their customers and stakeholders as of late 2025.

Access to strategic battery metals (Lithium) via pending acquisition

The primary value proposition here is securing a stake in the electric vehicle supply chain through the acquisition of Williams Minerals in Zimbabwe. This deal, valued at a maximum of US$1.75 billion, has been extended, with the long stop date set for December 31, 2025. So, you're buying into the potential of 3.5 million estimated tonnes of lithium oxide resources, based on a valuation of US$500 per tonne for resources grading 1.06% or above. To date, the company has already committed US$35 million as a deposit, plus another US$140 million slated for an initial installment. This is a massive potential shift for a company whose enterprise value was recently noted around $8.62M. If onboarding takes until the end of the year, the risk of further delay definitely rises.

Diversified portfolio of nonferrous metals (lead, silver, copper)

The foundation remains the exploration and exploitation of mining rights in Inner Mongolia, focusing on lead, silver, and other nonferrous metals. While CHNR's specific production figures aren't immediately available, you can benchmark against the broader sector health. For example, in 2024, China's output of 10 nonferrous metals was 79.19 million metric ton, a 4.3% year-on-year increase. More recently, in June 2025, primary lead production in China saw a YoY increase of 16.23%. Still, the current financial structure shows substantial liabilities at $172.83M against a negative working capital of $12.96M. The value proposition is access to these established, albeit mature, resource streams.

Here's a snapshot of the current financial context surrounding these operations:

Metric	Amount/Value	Date/Context
Enterprise Value	$8.62M	As of October 2025
Total Liabilities	$172.83M	As of October 2025
Working Capital	Negative $12.96M	As of October 2025
Nonferrous Metals Output (China)	79.19 million metric ton	Full Year 2024
Primary Lead Production Growth (China)	16.23% YoY	June 2025

Environmental solutions through wastewater treatment technology

While specific revenue or capacity figures for China Natural Resources, Inc.'s environmental segment aren't detailed in recent filings, the value proposition is tied to operating within a sector receiving significant national focus. China's action plan for environmental infrastructure, spanning through 2025, targets increasing daily sewage treatment capacity by 12 million cubic meters nationwide. This national push suggests a favorable regulatory and demand environment for any wastewater treatment technology the company possesses or develops.

Exposure to high-potential, early-stage mining exploration

Beyond the core nonferrous focus and the pending lithium deal, the company offers exposure to early-stage exploration, including looking into non-natural resource sectors. This is high-risk, high-reward territory. The stock's recent behavior reflects this uncertainty; it recorded only 12 out of 30 (40%) green days over the last 30 days, coupled with 22.80% price volatility. The team driving this exploration is lean, with a workforce of only 9 people. This small team size underscores the reliance on strategic partnerships and exploration success to drive future value.

• Exploring mining rights in Inner Mongolia.
• Actively looking at non-natural resource opportunities.
• Workforce size of 9 employees.
• Stock volatility over last 30 days: 22.80%.

The stock is trading with a price-to-book value of 0.5, which suggests the market is valuing the assets at half of their book value. Finance: draft 13-week cash view by Friday.

China Natural Resources, Inc. (CHNR) - Canvas Business Model: Customer Relationships

You're looking at how China Natural Resources, Inc. (CHNR) manages its connections with the entities buying its output, which is a mix of transactional and long-term commitments as of late 2025.

Transactional sales for mineral resources (future state)

The mineral resources segment, which includes exploration and mining in Inner Mongolia for lead, silver, and other nonferrous metals, is structured for transactional sales. While the company is actively exploring business opportunities in this sector, the major future customer commitment lies in the potential acquisition of Williams Minerals, which operates a lithium mine in Zimbabwe, with a maximum consideration set at US$1.75 billion. This acquisition, if closed by the targeted December 2025, will significantly alter the customer base for resource sales. For the year ended December 31, 2024, the company reported a net loss of US$0.43 million.

Contractual relationships for long-term wastewater PPP projects

The wastewater treatment segment is noted as earning the majority of the revenue for China Natural Resources, Inc.. Relationships here are contractual, involving participation in Public-Private Partnership (PPP) projects as an operator, alongside sales of assembled equipment and provision of construction services. As of 2024, China Natural Resources, Inc. maintained 17 active long-term supply contracts with industrial manufacturers, with an average contract duration of 4.3 years.

The customer base for these long-term engagements, which includes environmental protection technology, is substantial:

• Total industrial clients served in 2024: 47
• Total annual contract value associated with these clients: US$215.6 million
• Customer segment breakdown by application in 2024:

Application Sector	Percentage of Client Base
Electronic Manufacturing	35%
Aerospace Components	28%
Renewable Energy Technologies	22%
Other Industrial Applications	15%

China Natural Resources, Inc. emphasizes competitive value delivery, with its average price for comparable mineral notes being 12% lower than global market rates. The company also reported investing US$4.2 million per year into environmental protection technologies, achieving a 22% carbon emission reduction in 2023.

Direct, high-level engagement with controlling shareholder (Feishang Group)

The relationship with the controlling shareholder, Feishang Group Limited, is inherently direct and high-level, given its ownership stake. Mr. Li Feilie, the ultimate beneficial owner, held a 59.33% ownership stake as of the 2018 reporting period. A significant past transaction illustrating this relationship involved the 2020 issuance of 9,077,166 shares of common stock to Feishang Group in exchange for 120,000,000 shares of Feishang Anthracite Resources Limited, valued then at approximately HK$87,522,000.

Investor relations focused on strategic growth and compliance

Investor communications focus on navigating compliance and executing strategic shifts. The company completed an 8-to-1 share combination effective June 13, 2025. The net loss for the year ended December 31, 2024, was US$0.43 million, an improvement from the US$1.27 million net loss reported for the year ended December 31, 2023.

Key financial and compliance data points shaping investor dialogue include:

• Net Loss for FY 2024: US$0.43 million
• Net Loss for FY 2023: US$1.27 million
• Government compensation received in 2023 for terminated exploration rights: US$0.51 million
• Total Shareholder Equity as of the latest filing: CN¥88.1M
• Total Debt as of the latest filing: CN¥0

Finance: draft 2025 Q3 cash flow projection by Monday.

China Natural Resources, Inc. (CHNR) - Canvas Business Model: Channels

You're looking at how China Natural Resources, Inc. (CHNR) gets its value propositions to its customers and stakeholders as of late 2025. The channels here span from physical metal sales to the digital presence required for public equity trading.

Direct sales to industrial consumers and metal traders is the primary route for the physical output from its exploration and mining rights in Inner Mongolia, focusing on lead, silver, and other nonferrous metals. While specific 2025 sales tonnage or revenue breakdown by this channel isn't public in the latest filings, the entire operational focus is geared toward this physical distribution.

For Government tenders and contracts for environmental projects, CHNR has expressed an active exploration of business opportunities in non-natural resource sectors, which often aligns with national environmental initiatives. China, in general, announced major projects for climate change response in 2025, including investment in environmental protection totaling 34 billion yuan for air pollution control and 26.7 billion yuan for water pollution prevention, which represents the macro environment for such potential contracts. China Natural Resources, Inc. is dedicated to operating as a responsible natural resources corporation, which supports engagement in such government-led environmental efforts.

The public-facing channels are heavily influenced by its status on the Nasdaq Capital Market for public equity financing. You need to know the market context to understand this channel's effectiveness for raising capital. The company had to work to maintain this listing, receiving an extension until June 30, 2025, to regain compliance with the minimum bid price requirement of $1.00 per share. The company implemented a one-for-eight (1-8) reverse split of its Common Shares, effective June 13, 2025, to address this.

Here's a snapshot of the key metrics defining the public equity channel as of late 2025:

Metric	Value as of Late 2025
Trading Symbol	CHNR
Exchange	Nasdaq Capital Market
Stock Price (as of Dec 03, 2025)	3.7500
52-Week Price Range	3.1600 to 8.2000
Market Capitalization	$4.50M
Shares Float	523.38k
Insider Ownership Percentage	57.56%
Institutional Ownership Percentage	0.24%

For Corporate website and press releases for investor communication, this channel is crucial for meeting disclosure requirements and managing market perception, especially given the recent compliance efforts. The company uses press releases to announce corporate actions, such as the June 10, 2025 announcement regarding the share combination implementation. This digital presence is where you find official disclosures like the 10-K and 10-Q filings required by the SEC. The company's website and news services are the conduits for information flow to investors tracking its operational status, like its focus on acquiring mining rights in Inner Mongolia.

You should monitor the official filings for the next steps on capital structure, as the company is actively exploring options to cure the bid price deficiency. Finance: draft a memo by next Tuesday detailing the impact of the 1-for-8 reverse split on the shareholder register.

China Natural Resources, Inc. (CHNR) - Canvas Business Model: Customer Segments

You're looking at the customer base for China Natural Resources, Inc. (CHNR) right as they navigated a significant corporate restructuring in mid-2025. The customer segments are quite distinct, reflecting the company's dual focus on legacy mining/exploration and strategic expansion into battery metals.

Global metals and mining industry buyers

This segment represents the traditional off-takers for any production resulting from the exploration and mining rights China Natural Resources, Inc. holds, primarily in Inner Mongolia for lead, silver, and other nonferrous metals. While the company's reported annual revenue for the fiscal year ending December 31, 2024, was $0.00, this group remains a potential future buyer base should resource exploitation become active. The company is engaged in the acquisition and exploitation of these mining rights.

Here's a snapshot of the financial context surrounding the company's trading status, which impacts its attractiveness to any buyer or partner:

Metric	Value as of Mid-2025 Context
FY 2024 Annual Revenue	$0.00
Trailing 12 Months Revenue (Dec 31, 2024)	$0.00
Current Earnings (as of Dec 31, 2024)	-$432.9k
Pre-Split Market Capitalization (c. June 2025)	$5.66 million

Chinese government and municipal authorities (wastewater)

China Natural Resources, Inc.'s wastewater treatment segment targets local and municipal authorities within the People's Republic of China. This business line involves the design, sales, and assembly of wastewater treatment equipment, plus providing construction services. The company undertakes Public-Private Partnership (PPP) projects as an operator, delivering environmental solutions that align with regulatory requirements.

The value proposition here is providing stable, long-term revenue through construction and maintenance contracts that meet national environmental standards. The company is recognized as operating at the intersection of industrial equipment and environmental solutions in China.

Institutional and retail investors focused on resource stocks

This segment is highly sensitive to corporate actions and compliance status. You, as an investor, would have noted the significant technical move in June 2025 to maintain listing compliance. China Natural Resources, Inc. implemented an 8-for-1 reverse share combination effective June 13, 2025, specifically to raise the per-share price to meet Nasdaq's minimum bid price requirement of $1.00.

The impact of this action on the share structure is quantifiable:

• Every eight existing shares converted into one new share.
• Post-combination, the company had approximately 1,233,221 common shares issued and outstanding.
• The company's shares continue trading under the ticker CHNR with a new CUSIP number, G2110U125.
• To be fair, coverage for this stock is thin; China Natural Resources, Inc. is covered by 0 analysts.

Strategic partners in the battery metals sector

This segment is defined by the company's aggressive expansion strategy, specifically the pursuit of the Williams Minerals acquisition. This Zimbabwe lithium mine operation is a key focus for China Natural Resources, Inc. as it looks to capitalize on the battery metals sector.

The potential financial commitment to this partnership/acquisition is substantial:

• Maximum consideration agreed for Williams Minerals is up to $1.75 billion.
• The controlling shareholder, Feishang Group Limited, is involved in finalizing this deal.

This move signals a clear intent to align with the growing global demand for battery materials, making strategic partners in that supply chain a critical customer segment for future resource off-take agreements. Finance: draft the pro-forma balance sheet reflecting the $1.75 billion contingent liability by next Tuesday.

China Natural Resources, Inc. (CHNR) - Canvas Business Model: Cost Structure

You're looking at the cost side of China Natural Resources, Inc. (CHNR) as of late 2025, and frankly, the numbers show a company carrying significant financial obligations while pursuing a massive potential outlay.

High administrative and professional fees (e.g., legal/audit fees) are a notable part of the ongoing burn rate. For the twelve months ended December 31, 2024, administrative expenses totaled US\$0.99 million (CNY7.20 million). This was an improvement, showing a decrease of US\$0.78 million from the CNY12.88 million reported for the year ended December 31, 2023. The reduction in 2024 was mainly attributed to expense control, specifically a decrease in professional fees, which includes legal and audit costs. For the first half of 2024 (six months ended June 30, 2024), administrative expenses were US\$0.55 million (CNY4.00 million). The professional service fees incurred in 2023 related to the potential acquisition of the Zimbabwe lithium mines were a significant driver of those prior period costs.

The company's current financial structure is heavily influenced by its debt load. Servicing total liabilities of \$172.83 million, as estimated in October 2025, requires consistent cash flow management. This liability figure looms large against a working capital reported as negative \$12.96 million, underscoring liquidity pressure. The leverage ratio stands at 3, which tells you the debt load is substantial relative to equity.

The planned costs related to the pending US\$1.75 billion acquisition of the Zimbabwean lithium mine represent the largest potential future cost commitment. This maximum contemplated consideration is contingent upon independent technical reports verifying the inferred resource quantity. The structure of this potential outlay involves significant upfront and staged payments.

Here's a quick look at the key financial anchors impacting the cost structure:

Cost Component	Reported/Contemplated Amount	Context/Date Reference
Total Liabilities	\$172.83 million	Late 2025 Estimate
Maximum Acquisition Consideration	US\$1.75 billion	Zimbabwe Lithium Mine Acquisition
Initial Acquisition Installment	\$140 million	By way of promissory notes and/or cash
Acquisition Deposit	\$35 million	If the Company chooses to proceed after due diligence
Administrative Expenses (FY 2024)	US\$0.99 million	Year ended December 31, 2024

Exploration and mining rights maintenance costs are an ongoing operational expense, though specific late-2025 figures aren't isolated from the general administrative spend. The company is actively engaged in the acquisition and exploitation of mining rights in Inner Mongolia, including exploring for lead and silver. Furthermore, the structure of the Zimbabwe acquisition itself suggests that until full settlement vests ownership, the Sellers maintain liability for operational costs derived from the exploration rights.

• The company is actively exploring business opportunities in the healthcare sector, which introduces potential new, non-natural resource related operational costs.
• The 2024 administrative expense decrease of US\$0.78 million shows a focus on expense control, particularly in professional fees.
• The company's enterprise value was noted around \$8.62M in October 2025, which provides context for managing liabilities of \$172.83 million.

Finance: draft 13-week cash view by Friday.

China Natural Resources, Inc. (CHNR) - Canvas Business Model: Revenue Streams

You're looking at the revenue picture for China Natural Resources, Inc. (CHNR) as of late 2025, and honestly, the top line tells a story of transition. The core revenue-generating business has shifted significantly away from its former segments.

For the full fiscal year ended December 31, 2024, the reported annual revenue was \$0.00. This stark number reflects the strategic pivot the company has undertaken.

Here's a breakdown of what contributed to the financial results, even when product sales were absent:

• Fair Value Gains: A key non-operating income source was the Fair value gain on financial instruments, which totaled US\$0.55 million for the twelve months ended December 31, 2024. This gain, up from US\$0.43 million in 2023, is tied to the fluctuation in the fair values of the Company's outstanding warrants.
• Discontinued Operations: The wastewater treatment business, which the prompt mentions as a stable base, was actually disposed of. The disposition of Precise Space-Time Technology (PSTT) was completed on July 28, 2023.

To give you context on that former segment, for the six months ended June 30, 2023, before the full impact of the disposal, the revenue from the wastewater treatment segment was part of a total revenue of US\$1.68 million (CNY 12.22 million).

The future revenue streams are entirely centered on the exploration and mining focus. Here is a summary of the current and potential revenue drivers:

Revenue Stream Type	Status/Data Point	Associated Value/Target
Core Operating Revenue (Sales)	Reported Annual Revenue for FY 2024	\$0.00
Non-Operating Income	Fair Value Gain on Financial Instruments (FY 2024)	US\$0.55 million
Wastewater Treatment (Historical Base)	Revenue for Six Months Ended June 30, 2023 (Pre-disposal)	US\$1.68 million
Future Sales - Lithium	Targeted Acquisition of Williams Minerals (Zimbabwe)	Maximum Consideration of US\$1.75 billion
Future Sales - Nonferrous Metals	Active Exploitation Rights	Wulatehouqi Moruogu Tong Mine (Lead, Silver)

The potential future sales from lithium and nonferrous metal production are currently in the execution phase rather than realized revenue. China Natural Resources, Inc. is actively working with all involved parties to close the acquisition of Williams Minerals, which operates a lithium mine in Zimbabwe, by December 2025. This deal, with a maximum consideration of US\$1.75 billion, represents the primary expected future revenue catalyst, alongside ongoing exploration for lead, silver, and other nonferrous metals in Inner Mongolia.

Finance: draft 13-week cash view by Friday.