Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV
Cloud Expo & Virtualization 2009 East
PLATINUM SPONSORS:
IBM
Smarter Business Solutions Through Dynamic Infrastructure
IBM
Smarter Insights: How the CIO Becomes a Hero Again
Microsoft
Windows Azure
GOLD SPONSORS:
Appsense
Why VDI?
CA
Maximizing the Business Value of Virtualization in Enterprise and Cloud Computing Environments
ExactTarget
Messaging in the Cloud - Email, SMS and Voice
Freedom OSS
Stairway to the Cloud
Sun
Sun's Incubation Platform: Helping Startups Serve the Enterprise
POWER PANELS:
Cloud Computing & Enterprise IT: Cost & Operational Benefits
How and Why is a Flexible IT Infrastructure the Key To the Future?
Click For 2008 West
Event Webcasts
China Natural Resources Releases Interim Results Of Operations

HONG KONG, Dec. 21, 2012 /PRNewswire/ -- CHINA NATURAL RESOURCES, INC. (NASDAQ: CHNR), a company based in the People's Republic of China, today released unaudited interim financial information for the three and six months ended June 30, 2012 as follows:

CHINA NATURAL RESOURCES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED)

THREE AND SIX MONTHS ENDED JUNE 30, 2012 AND 2011

(Amounts in thousands, except share and per share data)



Three Months Ended June 30,


Six Months Ended June 30,


2011


2012


2012


2011


2012


2012


CNY


CNY


US$


CNY


CNY


US$













REVENUE

59,977


37,841


5,950


68,070


66,903


10,519

COST OF SALES

(38,786)


(22,344)


(3,513)


(43,853)


(38,687)


(6,083)

GROSS PROFIT

21,191


15,497


2,437


24,217


28,216


4,436













SELLING AND DISTRIBUTION EXPENSES

(849)


(840)


(132)


(1,614)


(1,525)


(240)

ADMINISTRATIVE EXPENSES

(17,383)


(21,203)


(3,334)


(33,837)


(39,166)


(6,159)

OTHER OPERATING EXPENSES


(3,591)


(565)



(4,704)


(739)

OPERATING PROFIT (LOSS)

2,959


(10,137)


(1,594)


(11,234)


(17,179)


(2,702)

FINANCE COST

(6,561)


(11,368)


(1,787)


(11,831)


(20,818)


(3,273)

INTEREST INCOME

246


905


142


372


1,695


267

NON-OPERATING INCOME (EXPENSE), NET

19


(858)


(134)


(54)


(889)


(140)

LOSS BEFORE INCOME TAX

(3,337)


(21,458)


(3,373)


(22,747)


(37,191)


(5,848)

INCOME TAX EXPENSE

(4,446)


(7,078)


(1,113)


(5,825)


(8,361)


(1,315)

LOSS FOR THE PERIOD

(7,783)


(28,536)


(4,486)


(28,572)


(45,552)


(7,163)













ATTRIBUTABLE TO:












Owners of the Company

(7,565)


(28,547)


(4,488)


(28,241)


(47,707)


(7,502)

Non-controlling interests

(218)


11


2


(331)


2,155


339


(7,783)


(28,536)


(4,486)


(28,572)


(45,552)


(7,163)













LOSS PER SHARE ATTRIBUTABLE TO
ORDINARY EQUITY HOLDERS OF THE
COMPANY












Basic

(0.33)


(1.15)


(0.18)


(1.24)


(1.92)


(0.30)













Diluted

(0.33)


(1.15)


(0.18)


(1.24)


(1.92)


(0.30)













LOSS FOR THE PERIOD

(7,783)


(28,536)


(4,486)


(28,572)


(45,552)


(7,163)













Other comprehensive income (loss):












Foreign currency translation adjustments

5,394


(2,794)


(439)


8,279


(2,579)


(406)

TOTAL COMPREHENSIVE LOSS FOR THE
PERIOD, NET OF TAX

(2,389)


(31,330)


(4,925)


(20,293)


(48,131)


(7,569)













Attributable to:












Owners of the Company

(2,171)


(31,341)


(4,927)


(19,962)


(50,286)


(7,908)

Non-controlling interests

(218)


11


2


(331)


2,155


339


(2,389)


(31,330)


(4,925)


(20,293)


(48,131)


(7,569)













 

CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF JUNE 30, 2012 AND DECEMBER 31, 2011

(Amounts in thousands, except share data)





December 31,


June 30,


June 30,




2011


2012


2012




CNY


CNY


US$





(Unaudited)


(Unaudited)









ASSETS








NON-CURRENT ASSETS








Property, plant and equipment



2,053,173


2,166,287


340,611

Rehabilitation fund



26,019


33,507


5,268

Prepayments



80,418


141,488


22,247

Deferred tax assets



2,825


2,384


375









TOTAL NON-CURRENT ASSETS



2,162,435


2,343,666


368,501









CURRENT ASSETS








Inventories



11,787


16,864


2,652

Trade and bill receivables



31,205


15,699


2,468

Prepayments



13,091


12,525


1,969

Other receivables



21,289


28,435


4,471

Due from related companies



774



Restricted bank deposits



21,000


10,791


1,697

Term deposits with an original maturity over three

months



20,000


20,000


3,145

Cash and cash equivalents


136,587


289,184


45,469








TOTAL CURRENT ASSETS


255,733


393,498


61,871








TOTAL ASSETS


2,418,168


2,737,164


430,372








LIABILITIES AND EQUITY














CURRENT LIABILITIES







Trade and bill payables


70,882


76,113


11,967

Other payables and accrued liabilities


52,173


53,923


8,478

Interest bearing loans


225,000


297,000


46,698

Due to related companies


184,477


342,777


53,896

Interest payable


5,979


5,742


903

Taxes payable


23,923


28,334


4,456

Mining rights payable


22,612


20,860


3,280








TOTAL CURRENT LIABILITIES

585,046


824,749


129,678

NET CURRENT LIABILITIES

(329,313)


(431,251)


(67,807)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,833,122


1,912,415


300,694







NON-CURRENT LIABILITIES







Interest bearing loans


523,742


656,742


103,261

Due to the Shareholder


262,657


265,247


41,706

Interest payable


18,205


20,070


3,156

Deferred tax liabilities


290,043


291,017


45,757

Mining rights payable


103,378


91,718


14,421

Asset retirement obligations


9,204


9,861


1,550








TOTAL NON-CURRENT LIABILITIES


1,207,229


1,334,655


209,851








TOTAL LIABILITIES


1,792,275


2,159,404


339,529








EQUITY







Issued capital


312,081


312,081


49,069

Other capital reserves


536,872


536,872


84,414

Reserves


19,209


57,231


8,998

Accumulated losses


(322,714)


(408,445)


(64,221)

Other comprehensive losses


(5,240)


(7,820)


(1,230)








EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY

540,208


489,919


77,030

NON-CONTROLLING INTERESTS

85,685


87,841


13,813

TOTAL EQUITY

625,893


577,760


90,843







TOTAL LIABILITIES AND EQUITY

2,418,168


2,737,164


430,372







For the convenience of the reader, amounts in Renminbi, the Chinese currency ("CNY"), have been translated into United States dollars ("US$") at the applicable rate of US$1.00 = CNY6.36 as quoted by Bloomberg Finance L.P. as of June 30, 2012. No representation is made that the CNY amounts could have been, or could be, converted into US$ at that rate, or at all.

The condensed consolidated statements of operations and comprehensive income for the three and six months ended June 30, 2012 (unaudited) and the condensed consolidated balance sheet as of June 30, 2012 (unaudited) are derived from, and should be read in conjunction with, the Company's unaudited condensed consolidated financial statements for the three and six months ended June 30, 2012 and 2011, which was filed with the Securities and Exchange Commission on December 21, 2012 under cover of Form 6-K. The results of operations for the six months ended June 30, 2012 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2012.

Mr. Feilie Li, the Company's Chairman and CEO, commented on the 2012 interim results: "In view of the continuing economic growth in the PRC, we believe that demand for coal, in particular coal used in the chemical industry, will continue to be robust in the medium and long run. We are positive about the prospects for the coal mining industry in the PRC and we will continue to pursue growth through acquisition and consolidation of small to medium sized coal mines in Guizhou province."

About China Natural Resources, Inc.:

China Natural Resources, Inc., a British Virgin Islands corporation, through its operating subsidiaries in the People's Republic of China, is currently engaged in (a) the acquisition and exploitation of mining rights, including the exploration, mineral extraction, processing and sale of iron, zinc and other nonferrous metals, extracted or produced at mine primarily located in Anhui Province in the PRC, and (b) the acquisition, exploration, development and production of coal resources in Guizhou Province in the PRC.

Forward-Looking Statements:

This press release includes forward-looking statements within the meaning of federal securities laws. These statements include, without limitation, statements regarding the intent, belief and current expectations of management with respect to the Company's policies regarding investments, dispositions, financings, conflicts of interest and other matters; and trends affecting the Company's financial condition or results of operations. Forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, many of which are outside of our control, and actual results may differ materially from those in the forward-looking statement. Among the risks and uncertainties that could cause our actual results to differ from our forward-looking statements are: uncertainties relating to our business operations and operating results; uncertainties regarding the governmental, economic and political environment in the People's Republic of China; uncertainties associated with metal and coal price volatility; uncertainties associated with the Company's reliance on third-party contractors and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including without limitation the information set forth in our Annual Report on Form 20-F under the heading "Risk Factors". While management believes that its assumptions forming the bases for forward looking statements are reasonable, assumed facts or bases generally vary from actual results, and there can be no assurance that the expectations or beliefs expressed in forward looking statements will be achieved or accomplished.

SOURCE China Natural Resources, Inc.

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Cloud Developer Stories
The recent trends like cloud computing, social, mobile and Internet of Things are forcing enterprises to modernize in order to compete in the competitive globalized markets. However, enterprises are approaching newer technologies with a more silo-ed way, gaining only sub optimal ...
AppZero, a fast, flexible way to move enterprise applications to the cloud, has announced that AppZero Cloud Edition is available to try on Amazon Web Services (AWS) free of charge, as an AWS Test Drive. AppZero's award-winning application migration tool enables users to move se...
DevOps Summit at Cloud Expo Silicon Valley announced today a limited time free "Expo Plus" registration option. On site registration price of $1,95 will be set to 'free' for delegates who register during this Labor Day week. To take advantage of this opportunity, attendees can us...
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the “Internet of Things” (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve c...
Internet of @ThingsExpo announced today a limited time free "Expo Plus" registration option. On site registration price of $600 will be set to 'free' for delegates who register during this Labor Day week. To take advantage of this opportunity, attendees can use the coupon code "I...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021



SYS-CON Featured Whitepapers
ADS BY GOOGLE