<SEC-DOCUMENT>0000943440-11-000949.txt : 20111221
<SEC-HEADER>0000943440-11-000949.hdr.sgml : 20111221
<ACCEPTANCE-DATETIME>20111221154218
ACCESSION NUMBER:		0000943440-11-000949
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20111221
FILED AS OF DATE:		20111221
DATE AS OF CHANGE:		20111221

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA NATURAL RESOURCES INC
		CENTRAL INDEX KEY:			0000793628
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26046
		FILM NUMBER:		111274556

	BUSINESS ADDRESS:	
		STREET 1:		RM 2205 22F WEST TOWER SHUN TAK CENTRE
		STREET 2:		168-200 CONNAUGHT ROAD C
		CITY:			SHEUNG WAN HONG KONG
		STATE:			K3
		ZIP:			-
		BUSINESS PHONE:		01185228107205

	MAIL ADDRESS:	
		STREET 1:		RM 2205 22F WEST TOWER SHUN TAK CENTRE
		STREET 2:		168-200 CONNAUGHT ROAD C
		CITY:			SHEUNG WAN HONG KONG
		STATE:			K3
		ZIP:			-

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHINA RESOURCES DEVELOPMENT INC
		DATE OF NAME CHANGE:	19950104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MAGENTA CORP
		DATE OF NAME CHANGE:	19940217
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>chnr_6k.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<TEXT>
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<TITLE>REPORT OF FOREIGN PRIVATE ISSUER</TITLE>
<META NAME="author" CONTENT="x">
<META NAME="date" CONTENT="12/20/2011">
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<P style="margin:0px" align=center>UNITED STATES</P>
<P style="margin:0px" align=center>SECURITIES AND EXCHANGE COMMISSION</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center>Washington, D.C. 20549</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><B>Form&nbsp;6-K</B></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>
<P style="margin-top:0px; margin-bottom:8.867px">For the month of December&nbsp;2011.</P>
<P style="margin-top:0px; margin-bottom:8.867px">Commission File Number 0-26046</P>
<P style="margin:0px" align=center><U>China Natural Resources, Inc.</U></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center>(Translation of registrant's name into English)</P>
<P style="margin:0px" align=center>Room 2205, West Tower, Shun Tak Centre,</P>
<P style="margin:0px" align=center><U>200 Connaught Road Central, Sheung Wan, Hong Kong</U></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center>(Address of principal executive offices)</P>
<P style="margin-top:0px; margin-bottom:8.867px">Indicate by check mark whether the registrant files of will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F. Form&nbsp;20-F <FONT style="font-family:Wingdings">&#254;</FONT> &nbsp;Form&nbsp;40-F <FONT style="font-family:Wingdings">&#168;</FONT></P>
<P style="margin-top:0px; margin-bottom:8.867px">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(1): <FONT style="font-family:Wingdings">&#168;</FONT></P>
<P style="margin-top:0px; margin-bottom:8.867px">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(7): <FONT style="font-family:Wingdings">&#168;</FONT></P>
<P style="margin-top:0px; margin-bottom:8.867px">Indicate by check mark whether the registrant by furnishing the information contained in this Form&nbsp;is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12b3-2(b) under the Securities Exchange Act of 1934. Yes <FONT style="font-family:Wingdings">&#168;</FONT> No <FONT style="font-family:Wingdings">&#254;</FONT>.</P>
<P style="margin:0px">If &quot;Yes&quot; is marked, indicated below the file number assigned to the registrant in connection with Rule&nbsp;12b3-2(b): 82-_________.</P>
<P style="margin:0px"><BR>
<BR></P>
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<P style="margin:0px" align=center>1 / 20</P>
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<P style="margin-top:0px; margin-bottom:8.867px"><B><U>Unaudited Results of Operations</U></B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px">Furnished herewith on behalf of China Natural Resources, Inc. are the following:</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">(a)</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:-2px">Unaudited Financial Statements:</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; clear:left; float:left">-</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:96px; text-indent:-2px">Condensed Consolidated Statements Of Operations And Comprehensive Income (Unaudited) For The Three and Six Months Ended June&nbsp;30, 2011 and 2010</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; clear:left; float:left">-</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:96px; text-indent:-2px">Condensed Consolidated Balance Sheets as of June&nbsp;30, 2011 (Unaudited) and December&nbsp;31, 2010</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; clear:left; float:left">-</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:96px; text-indent:-2px">Condensed Consolidated Statements Of Cash Flows (Unaudited) For The Six Months Ended June&nbsp;30, 2011 and 2010</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; clear:left; float:left">-</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:96px; text-indent:-2px">Notes to Condensed Consolidated Financial Statements (Unaudited)</P>
<P style="margin-top:0px; margin-bottom:-2px; width:62.333px; clear:left; float:left">(b)</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:62.333px; text-indent:-2px">Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations</P>
<P style="margin-top:0px; margin-bottom:8.867px; clear:left">The press release furnished herewith as Exhibit&nbsp;99.1 shall not be deemed &#147;filed&#148; for the purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, and is not incorporated by reference into any filing of the registrant, whether made before or after the date hereof, regardless of any general incorporation language in such filing.</P>
<P style="margin-top:0px; margin-bottom:8.867px"><B><U>Exhibits</U></B></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">99.1</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:-2px">Press Release dated December&nbsp;21, 2011.</P>
<P style="margin:0px; clear:left" align=center><BR>
<BR></P>
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<P style="margin:0px" align=center>2 / 20</P>
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<P style="margin-top:0px; margin-bottom:8.867px" align=center><B>SIGNATURES</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>
<P style="margin:0px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD /><TD width=24.933 /><TD width=249.333 /><TD width=38.067 /></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=312.333 colspan=3><P style="margin:0px"><B>CHINA NATURAL RESOURCES, INC.</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=24.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=249.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=38.067><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px">Date: &nbsp;December&nbsp;21, 2011</P>
</TD><TD style="margin-top:0px" valign=top width=24.933><P style="margin:0px">By:</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=249.333><P style="margin:0px">/s/ Li Feilie</P>
</TD><TD style="margin-top:0px" valign=top width=38.067><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=24.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=249.333><P style="margin:0px">Li Feilie</P>
</TD><TD style="margin-top:0px" valign=top width=38.067><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=24.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=249.333><P style="margin:0px"><I>Chairman and Chief Executive Officer</I></P>
</TD><TD style="margin-top:0px" valign=top width=38.067><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><BR>
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<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>3 / 20</P>
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<P style="margin-top:0px; margin-bottom:8.867px" align=center><B>CHINA NATURAL RESOURCES, INC. AND SUBSIDIARIES</B></P>
<P style="margin:0px" align=center><B>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED)</B></P>
<P style="margin:0px" align=center><B>THREE AND SIX MONTHS ENDED JUNE 30, 2011 AND 2010</B></P>
<P style="margin:0px" align=center>(Amounts in thousands, except share and per share data)</P>
<P style="margin:0px" align=justify><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD /><TD width=77.733 /><TD width=17.733 /><TD width=77.733 /><TD width=17.733 /><TD width=77.733 /><TD width=17.733 /><TD width=77.733 /><TD width=17.733 /><TD width=77.733 /><TD width=17.733 /><TD width=77.733 /></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=268.667 colspan=5><P style="margin:0px; padding-right:-7.2px" align=center>Three Months Ended June&nbsp;30,</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=268.667 colspan=5><P style="margin:0px; padding-right:-16.333px" align=center>Six Months Ended June&nbsp;30, </P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=77.733><P style="margin:0px" align=right>2010</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=77.733><P style="margin:0px" align=right>2011</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=77.733><P style="margin:0px" align=right>2011</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=77.733><P style="margin:0px" align=right>2010</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=77.733><P style="margin:0px" align=right>2011</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=77.733><P style="margin:0px" align=right>2011</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=77.733><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000" width=77.733><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000" width=77.733><P style="margin:0px" align=right>US$</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=77.733><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=77.733><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=77.733><P style="margin:0px" align=right>US$</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">NET SALES</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>24,850&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>61,809&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>9,562&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>33,623&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>70,133&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>10,850&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px">COST OF SALES</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(15,729)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(39,885)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(6,170)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(21,727)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(46,083)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(7,129)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">GROSS PROFIT</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>9,121&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>21,924&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>3,392&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>11,896&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>24,050&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>3,721&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">SELLING, GENERAL AND </P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:8px">ADMINISTRATIVE EXPENSES,<BR>
including share-based compensation expense of CNY13,008 (US$1,904) and nil for the six months ended June&nbsp;30, 2010 and 2011, respectively, and CNY6,504 (US$952) and nil for the three months ended June 30, 2010 and 2011, respectively</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(24,940)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(18,232)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(2,821)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(37,877)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(35,451)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(5,484)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:8px; text-indent:-8px">OTHER OPERATING EXPENSES</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(1,936)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(2,315)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:8px; text-indent:-8px">OPERATING PROFIT (LOSS)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(17,755)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>3,692&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>571&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(28,296)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(11,401)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(1,763)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:8px; text-indent:-8px">FINANCE COST</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(436)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(6,561)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(1,015)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(436)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(11,831)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(1,830)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:8px; text-indent:-8px">INTEREST INCOME</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>293&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>246&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>38&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>774&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>372&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>58&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:8px; text-indent:-8px">LOSS ATTRIBUTABLE TO INVESTMENTS IN UNCONSOLIDATED INVESTEES</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(1,826)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(3,612)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:8px; text-indent:-8px">GAIN ON DISPOSAL OF AN UNCONSOLIDATED INVESTEE</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>7,269&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:8px; text-indent:-8px">GAIN FROM BARGAIN PURCHASE OF A SUBSIDIARY</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>624,148&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:8px; text-indent:-8px">OTHER INCOME (EXPENSE), NET</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(58)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>19&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>3&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>44&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(54)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(7)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:8px; text-indent:-8px">PROFIT (LOSS) FROM BEFORE INCOME TAXES</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(19,782)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(2,604)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(403)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>599,891&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(22,914)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(3,542)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:8px; text-indent:-8px">INCOME TAXES (Note 7)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(2,155)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(4,446)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(688)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(3,600)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(5,825)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(901)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:8px; text-indent:-8px">NET INCOME (LOSS)</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(21,937)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(7,050)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(1,091)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>596,291&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(28,739)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(4,443)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:8px; text-indent:-8px"><B>OTHER COMPREHENSIVE INCOME (LOSS)</B></P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:8px; text-indent:-8px">Foreign currency translation adjustments</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:24px; text-indent:-8px">Attributable to CHNR Shareholders</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>3,951&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>5,394&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>835&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>3,844&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>8,279&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>1,281&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:24px; text-indent:-8px">Attributable to non-controlling interests</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:8px; text-indent:-8px"><B>COMPREHENSIVE INCOME (LOSS)</B></P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(17,986)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(1,656)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(256)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>600,135&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(20,460)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(3,162)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:8px; text-indent:-8px"><B>COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO:</B></P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px">CHNR Shareholders</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(17,616)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(1,445)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(223)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>600,726&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(20,128)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px" align=right>(3,111)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px">Non-controlling interests</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(370)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(211)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(33)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(591)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(332)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(51)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(17,986)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(1,656)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(256)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>600,135&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(20,460)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(3,162)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:8px; text-indent:-8px"><B>NET INCOME (LOSS) ATTRIBUTABLE TO:</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">CHNR Shareholders</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(21,567)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(6,839)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(1,058)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>596,882&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(28,407)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(4,392)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px">Non-controlling interests</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(370)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(211)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(33)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(591)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(332)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(51)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(21,937)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(7,050)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(1,091)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>596,291&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(28,739)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(4,443)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:8px; text-indent:-8px">EARNINGS (LOSS) PER SHARE (Note 2):</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">Basic</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px">&nbsp;&nbsp;&nbsp;Income (loss) per share</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(0.96)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(0.30)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(0.05)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>26.94&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(1.25)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>(0.19)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px">Diluted</P>
</TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">&nbsp;&nbsp;&nbsp;Income (loss) per share</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(0.96)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(0.30)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(0.05)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>26.61&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(1.25)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px" align=right>(0.19)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:8px; text-indent:-8px">WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; text-indent:26.667px">Basic</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>22,468,471&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>22,748,141&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>22,748,141&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>22,158,775&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>22,748,141&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>22,748,141&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=77.733><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; text-indent:26.667px">Diluted</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>22,468,471&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>22,748,141&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>22,748,141&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>22,430,086&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>22,748,141&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=77.733><P style="margin:0px" align=right>22,748,141&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=center>See notes to condensed consolidated financial statements</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>4 / 20</P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><B>CHINA NATURAL RESOURCES, INC. AND SUBSIDIARIES</B></P>
<P style="margin:0px" align=center><B>CONDENSED CONSOLIDATED BALANCE SHEETS</B></P>
<P style="margin:0px" align=center><B>AS OF JUNE 30, 2011 AND DECEMBER 31, 2010</B></P>
<P style="margin:0px" align=center>(Amounts in thousands, except share data)</P>
<P style="margin:0px" align=justify><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD /><TD width=15.733 /><TD width=45.533 /><TD width=17.733 /><TD width=89.2 /><TD width=17.733 /><TD width=78.867 /><TD width=17.733 /><TD width=78.867 /></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>December&nbsp;31,</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>June&nbsp;30, </P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding-left:-7.2px" align=right>June&nbsp;30,</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.2><P style="margin:0px" align=right>2010</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>2011</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>2011</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>CNY </P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>US$</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px" align=center>Notes</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>(Unaudited)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>(Unaudited)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px">CURRENT ASSETS</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:13.333px">Cash</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>126,685&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>105,099&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>16,259&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:13.333px">Restricted cash </P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>21,000&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>3,249&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:13.333px">Available-for-sale financial asset</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>7,000&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>1,083&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:13.333px">Trade receivables</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>13,807&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>27,032&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>4,182&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:13.333px">Bills receivable</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>2,200&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>6,000&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>928&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:13.333px">Prepayment</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>7,791&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>26,334&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>4,074&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:13.333px">Inventories</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px" align=center>3</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>11,454&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>13,042&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>2,018&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:13.333px">Deferred tax assets</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>439&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>140&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>22&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:13.333px">Other receivables</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.2><P style="margin:0px" align=right>14,538&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>17,561&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>2,717&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px">TOTAL CURRENT ASSETS</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>176,914&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>223,208&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>34,532&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px">DEFERRED TAX ASSETS</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>1,695&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>1,667&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>258&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px">REHABILITATION FUND</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>20,402&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>28,023&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>4,335&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px">PREPAYMENTS</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>15,825&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>84,579&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>13,085&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px">PROPERTY AND EQUIPMENT, NET</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px" align=center>4</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.2><P style="margin:0px" align=right>1,823,992&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>1,915,642&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>296,360&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px">TOTAL NON-CURRENT ASSETS</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.2><P style="margin:0px" align=right>1,861,914&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>2,029,911&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>314,038&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px">TOTAL ASSETS</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=89.2><P style="margin:0px" align=right>2,038,828&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=78.867><P style="margin:0px" align=right>2,253,119&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=78.867><P style="margin:0px" align=right>348,570&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px">CURRENT LIABILITIES</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:13.333px">Mining rights payable &#150; current</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>19,192&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>25,104&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>3,884&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:13.333px">Short-term bank loan</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>100,000&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>120,000&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>18,565&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:13.333px">Accounts payable</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>82,897&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>60,673&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>9,386&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:13.333px">Bills payable</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>70,000&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>10,829&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:13.333px">Advances from customers</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>1,306&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>7,273&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>1,125&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:13.333px">Accrued liabilities</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>7,117&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>7,491&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>1,159&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:13.333px">Income tax and other taxes payable</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>22,034&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>23,188&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>3,587&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:13.333px">Other payables</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>46,880&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>51,395&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>7,953&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding-left:23.867px; text-indent:-13.333px">Interest payable &#150; current</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>4,253&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>3,886&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>601&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:13.333px">Payables to related parties</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px" align=center>5</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.2><P style="margin:0px" align=right>44,782&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>95,836&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>14,826&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px">TOTAL CURRENT LIABILITIES</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>328,461&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>464,846&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>71,915&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-top:1px solid #000000" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-top:1px solid #000000" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-top:1px solid #000000" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px">Long-term bank loans</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>318,742&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>438,742&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>67,876&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px">Mining rights payable &#150; non-current</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>132,966&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>112,578&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>17,416&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px">Interest payable &#150; non-current</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>13,205&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>14,035&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>2,171&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px">Long term payable to the Shareholder</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px" align=center>5</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>404,093&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>375,255&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>58,054&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px">Deferred tax liabilities</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>294,250&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>296,255&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>45,832&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px">Asset retirement obligations</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=89.2><P style="margin:0px" align=right>9,036&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>9,484&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>1,467&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px">TOTAL NON-CURRENT LIABILITIES</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=89.2><P style="margin:0px" align=right>1,172,292&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>1,246,349&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>192,816&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px">TOTAL LIABILITIES </P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=89.2><P style="margin:0px" align=right>1,500,753&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>1,711,195&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>264,731&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px">EQUITY</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px">China Natural Resources, Inc. equity:</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding-left:3.067px">&nbsp;Common shares, no par:</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding-left:22.667px; text-indent:-6.667px">Authorized &#150; 200,000,000 shares;</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding-left:22.667px; text-indent:-6.667px">Issued and outstanding &#150; 22,723,416 shares and 23,098,416 <BR>
at December&nbsp;31, 2010 and June&nbsp;30, 2011, respectively</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>312,081&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>312,081&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>48,281&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding-left:3.067px; text-indent:6.667px">Other equity</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px" align=center>6</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>161,048&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>156,950&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px" align=right>24,281&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding-left:3.067px; text-indent:6.667px">Other comprehensive loss</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=89.2><P style="margin:0px" align=right>(20,902)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>(12,623)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>(1,953)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px">TOTAL CHINA NATURAL RESOURCES, INC. EQUITY</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>452,227&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>456,408&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>70,609&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px">NON-CONTROLLING INTERESTS</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.2><P style="margin:0px" align=right>85,848&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>85,516&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=78.867><P style="margin:0px" align=right>13,230&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=89.2><P style="margin:0px" align=right>538,075&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>541,924&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=78.867><P style="margin:0px" align=right>83,839&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000" valign=bottom width=78.867><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px">TOTAL LIABILITIES AND EQUITY </P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=45.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=89.2><P style="margin:0px" align=right>2,038,828&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=78.867><P style="margin:0px" align=right>2,253,119&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=78.867><P style="margin:0px" align=right>348,570&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=center>See notes to condensed consolidated financial statements.</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>5 / 20</P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><B>CHINA NATURAL RESOURCES, INC. AND SUBSIDIARIES</B></P>
<P style="margin:0px" align=center><B>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)</B></P>
<P style="margin:0px" align=center><B>SIX MONTHS ENDED JUNE 30, 2011 AND 2010</B></P>
<P style="margin:0px" align=center>(Amounts in thousands)</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD /><TD width=17.733 /><TD width=66.667 /><TD width=17.733 /><TD width=66.733 /><TD width=17.733 /><TD width=60 /></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=228.867 colspan=5><P style="margin:0px" align=center>Six months ended June&nbsp;30,</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=66.667><P style="margin:0px" align=right>2010</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=66.733><P style="margin:0px" align=right>2011</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=60><P style="margin:0px" align=right>2011</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=66.667><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=66.733><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=60><P style="margin:0px" align=right>US$</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=66.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=66.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=60><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66.667><P style="margin:0px" align=right>45,518&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66.733><P style="margin:0px" align=right>(56,355)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=60><P style="margin:0px" align=right>(8,721)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=60><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px"><U>INVESTING ACTIVITIES</U></P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=60><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px">Purchase of property and equipment</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.667><P style="margin:0px" align=right>(93,651)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.733><P style="margin:0px" align=right>(222,895)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=60><P style="margin:0px" align=right>(34,483)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">Purchase of available-for-sale financial asset</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.667><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.733><P style="margin:0px" align=right>(7,000)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=60><P style="margin:0px" align=right>(1,083)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px">Net proceeds on disposal from a subsidiary</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.667><P style="margin:0px" align=right>164,388&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=60><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">Net cash paid on acquisition of subsidiaries</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.667><P style="margin:0px" align=right>(198,463)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.733><P style="margin:0px" align=right>(20,640)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=60><P style="margin:0px" align=right>(3,193)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px">Repayment from related parties</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.667><P style="margin:0px" align=right>39,796&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=60><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-top:1px solid #000000" valign=bottom width=66.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-top:1px solid #000000" valign=bottom width=66.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-top:1px solid #000000" valign=bottom width=60><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px">NET CASH USED IN INVESTING ACTIVITIES</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66.667><P style="margin:0px" align=right>(87,930)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66.733><P style="margin:0px" align=right>(250,535)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=60><P style="margin:0px" align=right>(38,759)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=60><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px"><U>FINANCING ACTIVITIES</U></P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=60><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">Repayment of bank loans</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.667><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.733><P style="margin:0px" align=right>(30,000)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=60><P style="margin:0px" align=right>(4,641)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px">Proceeds from bank loans</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.667><P style="margin:0px" align=right>80,000&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66.733><P style="margin:0px" align=right>170,000&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=60><P style="margin:0px" align=right>26,300&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">Proceeds from exercise of warrants</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.667><P style="margin:0px" align=right>34,276&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.733><P style="margin:0px" align=right>24,309&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=60><P style="margin:0px" align=right>3,761&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px">Proceeds from exercise of options</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.667><P style="margin:0px" align=right>34,976&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=60><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">Repayment to an unrelated third-party</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.667><P style="margin:0px" align=right>(99,239)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=60><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px">Repayment to related parties</P>
</TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.667><P style="margin:0px" align=right>(98,341)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.733><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=60><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">Advances from related parties</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.667><P style="margin:0px" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.733><P style="margin:0px" align=right>121,054&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=60><P style="margin:0px" align=right>18,727&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000" valign=bottom width=66.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000" valign=bottom width=66.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000" valign=bottom width=60><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66.667><P style="margin:0px" align=right>(48,328)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66.733><P style="margin:0px" align=right>285,363&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=60><P style="margin:0px" align=right>44,147&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=60><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px">NET INCREASE (DECREASE) IN CASH</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.667><P style="margin:0px" align=right>(90,740)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.733><P style="margin:0px" align=right>(21,527)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=60><P style="margin:0px" align=right>(3,333)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=60><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px">Effect of exchange rate changes on cash</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.667><P style="margin:0px" align=right>(192)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66.733><P style="margin:0px" align=right>(59)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=60><P style="margin:0px" align=right>(7)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=60><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">CASH, AT BEGINNING OF PERIOD</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66.667><P style="margin:0px" align=right>186,582&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66.733><P style="margin:0px" align=right>126,685&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=60><P style="margin:0px" align=right>19,599&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=60><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px">CASH, AT END OF PERIOD</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=66.667><P style="margin:0px" align=right>95,650&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=66.733><P style="margin:0px" align=right>105,099&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.733><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=60><P style="margin:0px" align=right>16,259&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=66.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=66.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=60><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px" align=center>See notes to condensed consolidated financial statements.</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>6 / 20</P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><B>&nbsp;</B></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><B>CHINA NATURAL RESOURCES, INC. AND SUBSIDIARIES</B></P>
<P style="margin:0px" align=center><B>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</B></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center>(Amounts in thousands, except share, per share and per tonne data)</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">1.</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:48px; text-indent:-2px" align=justify>BASIS OF PRESENTATION</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:48px; clear:left" align=justify>Management has prepared the accompanying unaudited condensed consolidated financial statements for the three-month and six-month periods ended June&nbsp;30, 2011, and these operating results are not necessarily indicative of the results that may be expected for the year ending December&nbsp;31, 2011.</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:48px" align=justify>The condensed consolidated balance sheets at December&nbsp;31, 2010 has been derived from the audited consolidated financial statements at that date but does not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company&#146;s annual report on Form&nbsp;20-F for the year ended December&nbsp;31, 2010.</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:48px" align=justify>The consolidated financial statements include the accounts of China Natural Resources, Inc. and those subsidiaries in which the Company has direct and indirect controlling interest (collectively referred to as the &#147;Company&#148;). The Company&#146;s subsidiaries as of December&nbsp;31, 2010, are as described in the Company&#146;s Form&nbsp;20-F for the year ended December&nbsp;31, 2010. </P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:48px" align=justify>As of June 30, 2011, the Company has a working capital deficiency of CNY241,638 (US$37,383). &nbsp;As of June 30, 2011, Feishang Group Limited, the Company&#146;s controlling shareholder (the &#147;Shareholder&#148;) has confirmed to the Company continuous financial support to the Company. The Company is undertaking renewal negotiations with the banks in due course and has, at this stage, not sought any written commitment that the loan facilities will be renewed. However, the Company has held discussion with its bankers about its future borrowing needs and no matters have been drawn to its attention to suggest that renewal may not be forthcoming on acceptable terms. Subsequent to June 30, 2011, the Company has secured additional bank loans amounting to CNY140,000 (US$21,659) for the purpose of mine improvement projects and working capital. The Company&#146;s internal forecasts and projections, taking account of reasonably possible changes in operating performance as well as capital expenditure, additional borrowing capacity, continuous Shareholder&#146;s support and availability of bank facilities, show that the Company should be able to operate within the level of its current capacity. </P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:48px" align=justify>In view of these, the Company expects it will have sufficient liquidity to finance its operations for the next twelve months. Therefore, the unaudited interim consolidated financial information has been prepared on a going concern basis. The going concern basis assumes that the Company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business.</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>7 / 20</P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:48px" align=justify>For the convenience of readers, amounts in Renminbi, the Chinese currency (&#147;CNY&#148;), have been translated into United States dollars (&#147;US$&#148;) at the applicable rate of US$1.00 = CNY6.4639 as quoted by Bloomberg Finance L.P. as of June&nbsp;30, 2011, except as disclosed otherwise. No representation is made that the CNY amounts could have been, or could be, converted into US$ at that rate, or at all.</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">2.</P>
<P style="margin:0px; text-indent:-2px" align=justify>EARNINGS (LOSS) PER SHARE</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:47.267px; clear:left" align=justify>Basic earnings per share amounts are calculated using the weighted average number of common shares outstanding during the period. Diluted earnings per share assumes the conversion, exercise or issuance of all potential common stock instruments, such as options or warrants, unless the effect is to reduce a loss or increase earnings per share and is calculated using the treasury stock method. With respect to outstanding warrants, the weighted average number of shares of 373,772 and 441,869 shares for the three-month and six-month periods ended June&nbsp;30, 2011 were not included in the dilutive calculation for those respective periods, as the effect would be anti-dilutive.</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">3.</P>
<P style="margin:0px; text-indent:-2px" align=justify>INVENTORIES</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=216.933 /><TD width=89.4 /><TD width=24 /><TD width=88.2 /><TD width=25.2 /><TD width=92.533 /></TR>
<TR><TD style="margin-top:0px" valign=top width=216.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=89.4><P style="margin:0px" align=right>December&nbsp;31, </P>
<P style="margin:0px" align=right>2010</P>
</TD><TD style="margin-top:0px" valign=top width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=88.2><P style="margin:0px" align=right>June&nbsp;30, </P>
<P style="margin:0px" align=right>2011</P>
</TD><TD style="margin-top:0px" valign=top width=25.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=92.533><P style="margin:0px" align=right>June&nbsp;30, </P>
<P style="margin:0px" align=right>2011</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=216.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.4><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" valign=top width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=88.2><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" valign=top width=25.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=92.533><P style="margin:0px" align=right>US$</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=216.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=88.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=25.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=92.533><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=216.933><P style="margin:0px; padding-left:8px; text-indent:-8px">Raw materials</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.4><P style="margin:0px" align=right>9,532&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=24><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=88.2><P style="margin:0px" align=right>6,645&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=25.2><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=92.533><P style="margin:0px" align=right>1,028&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=216.933><P style="margin:0px; padding-left:8px; text-indent:-8px">Finished goods</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.4><P style="margin:0px" align=right>1,922&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=88.2><P style="margin:0px" align=right>6,397&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=25.2><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=92.533><P style="margin:0px" align=right>990&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=216.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=88.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=25.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=92.533><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=216.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=89.4><P style="margin:0px" align=right>11,454&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=88.2><P style="margin:0px" align=right>13,042&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=25.2><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=92.533><P style="margin:0px" align=right>2,018&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=216.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=88.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=25.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=92.533><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">4.</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>PROPERTY AND EQUIPMENT, NET</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=224 /><TD width=89.2 /><TD width=26.267 /><TD width=85.533 /><TD width=27 /><TD width=91.8 /></TR>
<TR><TD style="margin-top:0px" valign=top width=224><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=89.2><P style="margin:0px" align=right>December&nbsp;31, </P>
<P style="margin:0px" align=right>2010</P>
</TD><TD style="margin-top:0px" valign=top width=26.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=85.533><P style="margin:0px" align=right>June&nbsp;30, </P>
<P style="margin:0px" align=right>2011</P>
</TD><TD style="margin-top:0px" valign=top width=27><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=91.8><P style="margin:0px" align=right>June&nbsp;30, </P>
<P style="margin:0px" align=right>2011</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=224><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.2><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" valign=top width=26.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=85.533><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" valign=top width=27><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=91.8><P style="margin:0px" align=right>US$</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=224><P style="margin:0px; padding-left:8px; text-indent:-8px">At cost:</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=26.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=85.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=27><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=91.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=224><P style="margin:0px; padding-left:24px; text-indent:-8px">Mine development and mining rights</P>
</TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>1,546,605&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=26.267><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" width=85.533><P style="margin:0px" align=right>1,615,354&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=27><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=91.8><P style="margin:0px" align=right>249,904&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=224><P style="margin:0px; padding-left:24px; text-indent:-8px">Machinery and equipment</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.2><P style="margin:0px" align=right>30,890&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=26.267><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" width=85.533><P style="margin:0px" align=right>40,351&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=27><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=91.8><P style="margin:0px" align=right>6,243&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=224><P style="margin:0px; padding-left:24px; text-indent:-8px">Motor vehicles</P>
</TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>10,817&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=26.267><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" width=85.533><P style="margin:0px" align=right>11,222&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=27><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=91.8><P style="margin:0px" align=right>1,736&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=224><P style="margin:0px; padding-left:24px; text-indent:-8px">Construction in progress</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=89.2><P style="margin:0px" align=right>274,335&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=26.267><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" width=85.533><P style="margin:0px" align=right>309,841&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=27><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=91.8><P style="margin:0px" align=right>47,934&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=224><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.2><P style="margin:0px" align=right>1,862,647&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=26.267><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=85.533><P style="margin:0px" align=right>1,976,768&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=27><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=91.8><P style="margin:0px" align=right>305,817&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=224><P style="margin:0px; padding-left:8px; text-indent:-8px">Accumulated depreciation, depletion and amortization</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=89.2><P style="margin:0px" align=right>(38,655)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=26.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=85.533><P style="margin:0px" align=right>(61,126)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=27><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=91.8><P style="margin:0px" align=right>(9,457)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=224><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=89.2><P style="margin:0px" align=right>1,823,992&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=26.267><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=85.533><P style="margin:0px" align=right>1,915,642&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=27><P style="margin:0px" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=91.8><P style="margin:0px" align=right>296,360&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=224><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=26.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=85.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=27><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=91.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>8 / 20</P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">5.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:-2px" align=justify>RELATED PARTY BALANCES AND TRANSACTIONS</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:47.2px; width:84.933px; clear:left; float:left">(a)</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:84.933px; text-indent:-2px" align=justify>On July&nbsp;1, 2008, the Company and Anka Consultants Limited (&#147;Anka&#148;), a private Hong Kong company that is owned by certain directors of the Company, renewed their office sharing agreement with the Company. The agreement provides that the Company shares certain costs and expenses in connection with its use of the office, in addition to some of the accounting and secretarial services and day-to-day office administration provided by Anka. The amount paid by the Company to Anka for the three months and six months ended June&nbsp;30, 2011 was CNY204 (US$32) and CNY408 (US$63) respectively (2010: CNY271 (US$42) and CNY543 (US$84), respectively).</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:47.267px; width:85.067px; clear:left; float:left">(b)</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:85.067px; text-indent:-2px">Receivables/ payables with related parties</P>
<P style="margin:0px; padding-left:84.933px; clear:left" align=justify>The Company&#146;s payables with related parties are unsecured, non-interest bearing and, will not be repayable until the Company is in a position to make the repayment. The payables are summarized as follows: </P>
<P style="margin:0px" align=justify><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=264.6 /><TD width=94.533 /><TD width=18.867 /><TD width=94.533 /><TD width=18.867 /><TD width=92.533 /></TR>
<TR><TD style="margin-top:0px" valign=top width=264.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=94.533><P style="margin:0px" align=right>December&nbsp;31, </P>
<P style="margin:0px" align=right>2010</P>
</TD><TD style="margin-top:0px" valign=top width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=94.533><P style="margin:0px" align=right>June&nbsp;30, </P>
<P style="margin:0px" align=right>2011</P>
</TD><TD style="margin-top:0px" valign=top width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=92.533><P style="margin:0px" align=right>June&nbsp;30, </P>
<P style="margin:0px" align=right>2011</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=264.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.533><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" valign=top width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.533><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" valign=top width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=92.533><P style="margin:0px" align=right>US$</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=264.6><P style="margin:0px" align=justify>Payables to related parties:</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=94.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=94.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=92.533><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=264.6><P style="margin:0px; padding-left:26.6px; text-indent:-14.933px">Wuhu Feishang Non-Metal Material Co. Ltd. (&#147;WFNM&#148;)</P>
</TD><TD style="margin-top:0px" valign=bottom width=94.533><P style="margin:0px" align=right>304</P>
</TD><TD style="margin-top:0px" valign=bottom width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=94.533><P style="margin:0px" align=right>2,144 </P>
</TD><TD style="margin-top:0px" valign=bottom width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=92.533><P style="margin:0px" align=right>332</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=264.6><P style="margin:0px; padding-left:26.6px; text-indent:-14.933px">Feishang Enterprise Group Limited (&#147;Feishang Enterprise&#148;)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=94.533><P style="margin:0px" align=right>44,478</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=94.533><P style="margin:0px" align=right>93,692</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=92.533><P style="margin:0px" align=right>14,494</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=264.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:3px double #000000" valign=bottom width=94.533><P style="margin:0px" align=right>44,782</P>
</TD><TD style="margin-top:0px" width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:3px double #000000" valign=bottom width=94.533><P style="margin:0px" align=right>95,836 </P>
</TD><TD style="margin-top:0px" valign=bottom width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:3px double #000000" valign=bottom width=92.533><P style="margin:0px" align=right>14,826 </P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=264.6><P style="margin:0px" align=justify>Long-term payable to the Shareholder:</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=94.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=94.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=92.533><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=264.6><P style="margin:0px; padding-left:24px; text-indent:-8px">Feishang Group Limited</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=94.533><P style="margin:0px" align=right>404,093</P>
</TD><TD style="margin-top:0px" valign=top width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=94.533><P style="margin:0px" align=right>375,255 </P>
</TD><TD style="margin-top:0px" valign=bottom width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=92.533><P style="margin:0px" align=right>58,054 </P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=264.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=94.533><P style="margin:0px" align=right>404,093</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=94.533><P style="margin:0px" align=right>375,255 </P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=92.533><P style="margin:0px" align=right>58,054 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=264.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=top width=94.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=top width=94.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=top width=92.533><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:47.267px; width:85.067px; float:left">(c)</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:85.067px; text-indent:-2px">Guarantees of bank loans provided by related parties</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:84.933px; clear:left" align=justify>On February&nbsp;2, 2009, Guizhou Yongfu Mining Co. Limited (&#147;Guizhou Yongfu&#148;) received a CNY200,000 (US$30,941) long-term loan from the Chongqing Branch of China Minsheng Banking Corp. Ltd. to fund construction and development of the Yongsheng Mine in Guizhou Province, in the PRC. Guizhou Yongfu owns the mining right to the Yongsheng Mine. The loan is to be paid in annual installments of principal commencing in 2013 and terminating in 2017. The loan bears interest, payable quarterly, at a floating rate equal to 30% above the over-five-year base lending rate stipulated by The People&#146;s Bank of China (currently 7.05% per annum, resulting in a current annual interest rate of 9.165% per annum). The loan is secured by the mining permit of Guizhou Yongfu and is guaranteed by Pingxiang Iron &amp; Steel Co. Ltd. (&#147;Pingxiang Iron&#148;), a related company controlled by Mr.&nbsp;Li Feilie, who is also an executive officer, director and the principal beneficial owner of the Company. Guizhou Yongfu drew down CNY118,742 (US$18,370) up to December 31, 2010, and an additional CNY70,000 (US$10,829) on March 15, 2011. The remaining balance of the loan facility can be drawn down as needed in accordance with the construction plan for the mine.</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>9 / 20</P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:84.933px" align=justify>On January&nbsp;12, 2010, Guizhou Yongfu received and drew down in full a CNY50,000 (US$7,735) long-term bank loan from Bank of China Corp. Ltd., to be repaid in installments over five years commencing in 2012. The purpose of the loan is to finance the construction of the Yongsheng Mine. The loan bears a floating annual interest rate of the over-five-year base lending rate stipulated by The People&#146;s Bank of China (currently 7.05% per annum). The loan is secured by the mining permit of Guizhou Yongfu and is guaranteed by Pingxiang Iron.</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:84.933px" align=justify>On June 8, 2010 and June 18, 2010, Guizhou Puxin Energy Co. Ltd. (&#147;Guizhou Puxin&#148;) received and drew down in full CNY10,000 (US$1,547) and CNY 20,000 (US$3,094) &nbsp;short-term bank loans from Shanghai Pudong Development Bank Co., Ltd. to finance the working capital of Guizhou Puxin. The loans are both guaranteed by Wuhu Port Co., Ltd. (&#147;Wuhu Port&#148;), a related company. The loans bear the same floating annual interest rate equal to 20% above the then one-year base lending rate stipulated by The People&#146;s Bank of China (currently 6.56% per annum, resulting in a current annual interest rate of 7.872% per annum). &nbsp;The loans were repaid on June 8, 2011 and June 15, 2011, respectively.</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:84.933px" align=justify>On August 24, 2010, Guizhou Puxin received a CNY150,000 (US$23,206) long-term bank loan from the Chongqing Branch of China Minsheng Banking Corp., Ltd. to finance the acquisitions of the Company&#146;s subsidiaries, namely Jinsha Baiping Mining Co. Ltd. (&#147;Baiping Mining&#148;), Guizhou Nayong Dayuan Coal Mining Co. Ltd. (&#147;Dayuan Coal&#148;), Nayong Gouchang Coal Mining Co. Ltd. (&#147;Gouchang Coal&#148;), Liuzhi Linjiaao Coal Mining Co. Ltd. (&#147;Linjiaao Coal&#148;), and Liuzhi Xinsong Coal Mining Co. Ltd. (&#147;Xinsong Coal&#148;). The loan is to be repaid in two installments, i.e., CNY50,000 (US$7,735) and CNY100,000 (US$15,471), on December 31, 2012 and August 11, 2013, respectively. Guizhou Puxin fully drew down the loan by September 2010. The loan bears interest, payable quarterly at a floating rate of 30% above the three-year base lending rate stipulated by The People&#146;s Bank of China (currently 6.65% per annum, resulting in a current annual interest rate of 8.645% per annum). The loan is guaranteed by Mr. Li Feilie. The loan is also guaranteed by Baiping Mining, Dayuan Coal, Gouchang Coal, Linjiaao Coal, Xinsong Coal, Guizhou Yongfu, and Wuhu Port. In addition, the loan is collateralized by a pledge of the outstanding capital stock of Baiping Mining, Dayuan Coal, Gouchang Coal, Linjiaao Coal, and Xinsong Coal. </P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:84.933px" align=justify>On December 14, 2010, Guizhou Puxin received a CNY70,000 (US$10,829) short-term bank loan from China Minsheng Banking Corp., Ltd. &nbsp;The purpose of the loan is to finance the working capital of Guizhou Puxin. &nbsp;The loan bears interest, payable quarterly at a floating rate equal to 20% above one-year base lending rate stipulated by The People&#146;s Bank of China (currently 6.56% per annum, resulting in a current annual interest rate of 7.872% per annum). &nbsp;The loan is guaranteed by Wuhu Port and Wuhu City Feishang Industrial Development Company Limited (&#147;WFID&#148;), both related companies. Guizhou Puxin fully drew down the loan in December 2010. The loan was repaid on December 13, 2011, however, Guizhou Puxin believes that the bank will renew the loan.</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>10 / 20</P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:84.933px" align=justify>On February 1, 2011, Guizhou Puxin received a CNY20,000 (US$3,094) short-term bank loan from China Merchants Bank Corp. Ltd., to be repaid on January 31, 2012. The purpose of the loan is to finance the working capital of Guizhou Puxin. The loan bears a floating annual interest rate equal to 20% above the one-year base lending rate stipulated by The People&#146;s Bank of China (currently 6.56% per annum, resulting in a current annual interest rate of 7.872% per annum). &nbsp;The loan is guaranteed by WFID. Guizhou Puxin fully drew down the loan in February 2011.</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:84.933px" align=justify>On February 25, 2011, Guizhou Puxin received a CNY30,000 (US$4,641) short-term bank loan from China Merchants Bank Corp. Ltd., to be repaid on February 24, 2012. The purpose of the loan is to finance the working capital of Guizhou Puxin. The loan bears a floating annual interest rate equal to 20% above the one-year base lending rate stipulated by The People&#146;s Bank of China (currently 6.56% per annum, resulting in a current annual interest rate of 7.872% per annum). &nbsp;The loan is guaranteed by WFID. Guizhou Puxin fully drew down the loan in February 2011.</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:84.933px" align=justify>On April 12, 2011, Guizhou Puxin received a CNY70,000 (US$10,829) short-term (six-month) banker&#146;s acceptance facility from Bank of Chongqing. The facility allows Guizhou Puxin to provide payment assurance to parties, as needed. The facility is secured by a CNY21,000 (US$3,249) bank deposit and is guaranteed by WFID. &nbsp;The facility bears a commission of 0.05% on the face amount of banker&#146;s acceptance issued. The facility was repaid on October 12, 2011.</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:84.933px" align=justify>On May 5, 2011, Xinsong Coal received a CNY50,000 (US$7,735) long-term bank loan from the Chongqing Branch of China Minsheng Banking Corp. Ltd., to be repaid in installments over three years commencing in 2013. &nbsp;The purpose of the loan is to finance the improvement project of the coal mine. &nbsp;The loan bears a floating annual interest rate equal to 30% above the three-year base lending rate stipulated by The People&#146;s Bank of China from time to time (currently 6.65% per annum, resulting in a current annual interest rate of 8.645% per annum). The loan is secured by mining permit of Xinsong coal mine and is guaranteed by WFID. Xinsong Coal fully drew down the loan in May 2011.</P>
<P style="margin:0px; padding-left:48px" align=justify>Wuhu Hengchang, Pingxiang Iron, Wuhu Port, WFID, WFNM, Feishang Enterprise, and Feishang Group Limited, are controlled by Mr.&nbsp;Li Feilie.</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>11 / 20</P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">6.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:-2px" align=justify>OTHER EQUITY<A NAME="_GoBack"></A></P>
<P style="margin:0px; text-indent:48px; clear:left" align=justify>Included in other equity was additional paid-in capital as follow:</P>
<P style="margin:0px" align=justify><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=194.6 /><TD width=112.067 /><TD width=16.733 /><TD width=89.4 /><TD width=17.267 /><TD width=105.2 /></TR>
<TR><TD style="margin-top:0px" valign=top width=194.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=112.067><P style="margin:0px" align=right>December&nbsp;31,</P>
<P style="margin:0px" align=right>2010</P>
</TD><TD style="margin-top:0px" valign=top width=16.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=89.4><P style="margin:0px" align=right>June&nbsp;30,</P>
<P style="margin:0px" align=right>2011</P>
</TD><TD style="margin-top:0px" valign=top width=17.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=105.2><P style="margin:0px" align=right>June&nbsp;30,</P>
<P style="margin:0px" align=right>2011</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=194.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=112.067><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" valign=top width=16.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.4><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" valign=top width=17.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=105.2><P style="margin:0px" align=right>US$</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=194.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=112.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=16.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=17.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=105.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=194.6><P style="margin:0px; padding-left:8px; text-indent:-8px">Exercise of warrants</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=112.067><P style="margin:0px" align=right>138,231</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=16.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=89.4><P style="margin:0px" align=right>162,540</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=105.2><P style="margin:0px" align=right>25,146</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=194.6><P style="margin:0px; padding-left:8px; text-indent:-8px">Exercise of options</P>
</TD><TD style="margin-top:0px" valign=bottom width=112.067><P style="margin:0px" align=right>141,157</P>
</TD><TD style="margin-top:0px" valign=bottom width=16.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.4><P style="margin:0px" align=right>141,157</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=105.2><P style="margin:0px" align=right>21,838</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=194.6><P style="margin:0px; padding-left:8px; text-indent:-8px">Share based compensation</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=112.067><P style="margin:0px" align=right>117,046</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=16.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=89.4><P style="margin:0px" align=right>117,046</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=105.2><P style="margin:0px" align=right>18,107</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=194.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=112.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=16.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=105.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=194.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=112.067><P style="margin:0px" align=right>396,434</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=16.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=89.4><P style="margin:0px" align=right>420,743</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=105.2><P style="margin:0px" align=right>65,091</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=194.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=112.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=16.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=105.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:48px" align=justify>On June&nbsp;15, 2011, a warrant holder exercised warrants to purchase 150,000 common shares and paid the Company the exercise price of CNY9,739 (US$1,500 at the historical exchange rate of US$1.00 = CNY6.4926). On June&nbsp;20, 2011, a warrant holder exercised warrants to purchase 225,000 common shares and paid the Company the exercise price of CNY14,570 (US$2,250 at the historical exchange rate of US$1.00 = CNY6.475).</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">7.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:-2px" align=justify>INCOME TAXES</P>
<P style="margin:0px; padding-left:48px; clear:left" align=justify>All PRC subsidiaries of the Company are subject to income tax rate of 25% except Baiping Mining, Gouchang Coal, Linjiaao Coal, Xinsong Coal and Dayuan Coal, subsidiaries of Guizhou Puxin. These operating subsidiaries are currently paying income tax at a rate of CNY9.50 to CNY32 (US$1.47 to US$4.95) per tonne of sales or of 7.5% of sales amount as required by respective local tax bureau.</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">8.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:-2px" align=justify>SUBSEQUENT EVENTS</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:47.2px; clear:left" align=justify>On July 1, 2011, Guizhou Puxin received and fully drew down a CNY50,000 (US$7,735) short-term bank loan from Shanghai Pudong Development Bank Co., Ltd., to be repaid on July 1, 2012. The purpose of the loan is to finance the working capital of Guizhou Puxin. The loan bears a floating annual interest rate equal to 50% above the one-year base lending rate stipulated by The People&#146;s Bank of China (currently 6.56% per annum, resulting in an annual interest rate of 9.84% per annum). The loan is guaranteed by Wuhu Port. </P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:47.2px" align=justify>On August 23, 2011, Linjiaao Coal received a CNY90,000 (US$13,923) long-term bank loan from Bank of Chongqing to be repaid in installments over three years commencing in 2013. The loan bears a floating interest rate equal to five-year base lending rate stipulated by The People&#146;s Bank of China (currently 6.9% per annum). In addition, Linjiaao paid Bank of Chongqing CNY14,370 (US$2,223) as a consulting fee for arranging the loan. The loan is guaranteed by Mr. Li Feilie and WFID. At the end of September 2011, loan proceeds amounting to CNY81,560 had been drawn down.</P>
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<P style="margin:0px" align=center>12 / 20</P>
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<P style="margin-top:0px; margin-bottom:8.867px; padding-left:47.2px" align=justify>In August 2011, warrants to purchase 1,812,500 common shares were exercised by the warrant holders, and the Company received gross proceeds of US$18,125.</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-left:47.2px" align=justify>On October 18, 2011, Guizhou Puxin received a CNY60,000 (US$9,282) short-term (six-month) banker&#146;s acceptance facility, and on October 26, 2011, Guizhou Puxin received a CNY10,000 (US$1,547) short-term (six-month) banker&#146;s acceptance facility from Bank of Chongqing. The facilities allow Guizhou Puxin to provide payment assurance to parties, as needed. The facilities are secured by a CNY21,000 (US$3,249) bank deposit and are guaranteed by WFID. &nbsp;The facility bears a commission of 0.05% on the face amount of banker&#146;s acceptance issued.</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><BR>
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<P style="margin:0px" align=center>13 / 20</P>
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<P style="margin-top:0px; margin-bottom:8.867px" align=justify><B>MANAGEMENT&#146;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</B></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><B>FORWARD-LOOKING STATEMENTS</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px" align=justify>The following discussion includes statements that constitute &#147;forward-looking statements&#148; 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&#146;s Republic of China; uncertainties associated with metal and coal price volatility; uncertainties associated with the Company&#146;s reliance on third-party contractors and other risks detailed from time to time in the Company&#146;s filings with the Securities and Exchange Commission, including without limitation the information set forth in our Annual Report on Form&nbsp;20-F under the heading &quot;Risk Factors&quot;. 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.</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><B>SALES AND GROSS PROFIT</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:42px" align=justify>Sales for the six months ended June&nbsp;30, 2011 totaled CNY70.13&nbsp;million (US$10.85&nbsp;million), an 108.59% increase over the same period of 2010. The increase was mainly comprised of (i) the new anthracite trading amounting to CNY24.22 million (US$3.75&nbsp;million) during the period; (ii) an approximately 58% higher production volume of anthracite during the six months&#146; period this year, compared to only three months of anthracite mining operations during the period ended June 30, 2010; and (iii) an increase in the average selling price per tonne of iron concentrates from CNY928 (US$144) in the first half of 2010 to CNY1,250 (US$193) for the same period of 2011, as well as approximately 14% rise in sales volume of iron concentrates, partly offset by the decrease in sales volume of zinc concentrates.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:41.867px" align=justify>Sales for the second quarter of 2011 totaled CNY61.81&nbsp;million (US$9.56&nbsp;million), an 148.73% rise over the same period last year. This increase was mainly attributable to (i) the anthracite trading; and (ii) an approximately 298% increase in the sales volume of iron concentrates, partly offset by the decrease in sales volume of zinc concentrates.</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><BR>
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<P style="margin-top:0px; margin-bottom:8.867px; text-indent:41.867px" align=justify>The overall gross profit margin slightly decreased from 35.38% for the six months ended June&nbsp;30, 2010 to 34.29% for the same period of 2011. This decrease is mainly caused by the relatively low 19.55% gross profit margin from anthracite trading business, partly offset by the rise in the average selling price of iron concentrates by metal segment.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:40px" align=justify>The slight drop in gross profit margin for the second quarter of 2011, from 36.70% to 35.47%, was caused by the same factors.</P>
<P style="margin-top:0px; margin-bottom:8.867px"><B>SELLING, GENERAL AND ADMINISTRATIVE EXPENSES</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:41.867px" align=justify>Selling, general and administrative expenses decreased by CNY2.43 million (US$0.38 million) or 6.40% to CNY35.45 million (US$5.48 million) for the six months ended June 30, 2011 from CNY37.88 million (US$5.86 million) for the same period of 2010. The slight decrease was mainly due to the decrease of share-based compensation amounting to CNY13.01 million (US$2.01 million), partly offset by increase in salary, entertainment, travelling expense and office expense attributable to newly acquired Wealthy Year amounting to CNY11.00 million (US$1.70 million). </P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:41.867px" align=justify>Selling, general and administrative expenses decreased by CNY6.71 million (US$1.04 million) or 26.90% to CNY18.23 million (US$2.82 million) for the second quarter of 2011 from CNY24.94 million (US$3.86 million) for the same quarter of 2010. The decrease was mainly due to the decrease of share-based compensation amounting to CNY6.50 million (US$1.01 million).</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:1.867px" align=justify><B>FINANCE COST</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:40px" align=justify>Finance cost increased to CNY6.56 million (US$1.02 million) and CNY11.83 million (US$1.83 million) for the three and six months ended June&nbsp;30, 2011, respectively, from CNY0.44 million (US$0.07 million) and CNY0.44 million (US$0.07 million) for the same periods in 2010. This increase was mainly caused by the (i) the rise in base lending rate as stipulated by the People&#146;s Bank of China, from 5.31% as of June 30, 2010 to 6.31% as of June 30, 2011 for a one-year loan; and (ii) the increase in bank borrowing for the three and six months ended June&nbsp;30, 2011, as compared to the same period of 2010.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:1.867px" align=justify><B>INTEREST INCOME</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48.533px" align=justify>Interest income decreased by CNY0.40 million (US$0.06 million) or 51.81% to CNY0.37 million (US$0.06 million) for the six months ended June&nbsp;30, 2011 from CNY0.77 million (US$0.12 million) for the same period in 2010. This decreased was caused by the drop in average bank balance. The same factor contributed to the decrease of interest income for the second quarter of 2011 by CNY0.04 million (US$0.01 million) or 16.04%, to CNY0.25 million (US$0.04 million) from CNY0.29 million (US$0.05 million) for the same quarter in 2010. </P>
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<P style="margin-top:0px; margin-bottom:8.867px" align=justify><B>GAIN FROM BARGAIN PURCHASE OF A SUBSIDIARY</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px" align=justify>Gain from bargain purchase of a subsidiary of CNY624.15 million (US$96.56 million) in 2010 was derived from the acquisition of Guizhou Puxin and its subsidiaries other than Guizhou Yongfu and Bijie Feishang in March 2010. The difference between the fair value recognized by the Shareholder (from whom we acquired the entities) of CNY774.15 million (US$119.77 million) and the purchase price paid to unrelated third parties by the Shareholder of CNY150 million (US$23.21 million) was recognized as gain from bargain purchase of a subsidiary in 2010. &nbsp;This gain did not recur in 2011.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:1.867px" align=justify><B>INCOME TAXES</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px" align=justify>Management believes that the Company is not subject to US taxes.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px" align=justify>Under the current laws of the BVI, dividends and capital gains arising from the Company&#146;s investments in the BVI are not subject to income taxes and no withholding tax is imposed on payments of dividends to the Company.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px" align=justify>All PRC subsidiaries of the Company are subject to income tax at a rate of 25% except Baiping Mining, Gouchang Coal, Linjiaao Coal, Xinsong Coal and Dayuan Coal, of Guizhou Puxin. The operating subsidiaries are currently paying income tax at a rate of CNY9.50 to CNY32 (US$1.47 to US$4.95) per tonne of sales, or 7.5% of sales, as required by the respective local tax bureau.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:1.867px" align=justify><B>NET INCOME (LOSS) ATTRIBUTABLE TO CHNR SHAREHOLDERS</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:48px" align=justify>The net income (loss) attributable to CHNR shareholders dropped by CNY625.29&nbsp;million (US$96.73&nbsp;million) from a net income of CNY596.88 million (US$92.34 million) for the six months ended June&nbsp;30, 2010 to a net loss of CNY28.41 million (US$4.39 million) for the six months ended June&nbsp;30, 2011. The decrease was mainly caused by (i) a bargain purchase gain amounting to CNY624.15&nbsp;million (US$91.43&nbsp;million at the historical exchange rate of US$1.00=CNY6.8262) on the acquisition of Guizhou Puxin in 2010, which did not recur in 2011; (ii) the CNY7.27&nbsp;million (US$1.12&nbsp;million) gain on the disposal of Guangdong Longchuan Jinshi Mining Development Co. Limited in February&nbsp;2010, which did not recur in 2011; (iii) the increase in interest expense of short-term bank loan amounting to CNY11.40 million (US$1.76 million) in 2011; and (iv) the increase in salary, entertainment, travelling expense and office expense attributable to newly acquired Wealthy Year amounting to CNY11.00&nbsp;million (US$1.70&nbsp;million) in March 2010, partly offset by (i) the decrease of share-based compensation amounting to CNY13.01&nbsp;million (US$2.01&nbsp;million); (ii) the gross profit increase of metal segment and coal segment amounting to CNY4.99&nbsp;million (US$0.77&nbsp;million) and CNY7.16&nbsp;million (US$1.11&nbsp;million) respectively, attributable to the increase in the average selling price of iron concentrates and the sales volume increase of coal anthracite trading business.</P>
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<P style="margin-top:0px; margin-bottom:8.867px; text-indent:41.867px" align=justify>The net loss attributable to CHNR shareholders decreased by CNY14.73&nbsp;million (US$2.28&nbsp;million) from CNY21.57&nbsp;million (US$3.34&nbsp;million) for the three months ended June&nbsp;30, 2010 to CNY6.84&nbsp;million (US$1.06&nbsp;million) for the three months ended June&nbsp;30, 2011. The decrease in loss was mainly attributable to &nbsp;(i) the increase in gross profit of coal segment and metal segment amounting to CNY12.80&nbsp;million (US$1.98&nbsp;million); (ii) the decrease of share-based compensation amounting to CNY6.50&nbsp;million (US$1.01&nbsp;million), partly offset by the increase in interest expense of the coal segment amounting to CNY5.28&nbsp;million (US$0.82&nbsp;million).</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><B>LIQUIDITY AND CAPITAL RESOURCES</B></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:41.867px" align=justify>The Company&#146;s primary liquidity needs are to fund operating expenses, capital expenditures and acquisitions. To date, the Company has financed its working capital requirements primarily through internally generated cash and bank borrowings.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:41.867px" align=justify>Net cash used for operating activities for the six months ended June&nbsp;30, 2011 was approximately CNY56.36&nbsp;million (US$8.72&nbsp;million), as compared to net cash from operating activities of CNY45.52&nbsp;million (US$7.04&nbsp;million) for the corresponding period in 2010. The decrease in net cash inflow was mainly due to the operating loss of and the increase in trade receivable and prepayment of the coal business.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:41.867px">The following summarizes the Company&#146;s financial condition and liquidity at the dates indicated:</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=261.867 /><TD width=112.2 /><TD width=29.667 /><TD width=108.067 /></TR>
<TR><TD style="margin-top:0px" valign=bottom width=261.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=112.2><P style="margin:0px" align=right>December&nbsp;31, </P>
<P style="margin:0px" align=right>2010</P>
</TD><TD style="margin-top:0px" valign=bottom width=29.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=108.067><P style="margin:0px" align=right>June&nbsp;30, </P>
<P style="margin:0px" align=right>2011</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=261.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=112.2><P style="margin:0px" align=right>CNY</P>
</TD><TD style="margin-top:0px" valign=bottom width=29.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=108.067><P style="margin:0px" align=right>CNY</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=261.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=112.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=29.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=108.067><P style="margin:0px" align=right>(Unaudited)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=261.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=112.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=29.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=108.067><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=261.867><P style="margin:0px; padding-left:8px; text-indent:-8px">Current ratio</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=112.2><P style="margin:0px" align=right>0.54x</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=29.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=108.067><P style="margin:0px" align=right>0.48x</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=261.867><P style="margin:0px; padding-left:8px; text-indent:-8px">Working capital</P>
</TD><TD style="margin-top:0px" valign=bottom width=112.2><P style="margin:0px" align=right>(151,547,000)</P>
</TD><TD style="margin-top:0px" valign=bottom width=29.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=108.067><P style="margin:0px" align=right>(241,638,000)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=261.867><P style="margin:0px; padding-left:8px; text-indent:-8px">Ratio of interest-bearing debt to total shareholders&#146; equity</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=112.2><P style="margin:0px" align=right>1.06x</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=29.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=108.067><P style="margin:0px" align=right>1.29x</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:40px" align=justify>Net cash used in investing activities for the six months ended June&nbsp;30, 2011 was CNY250.54&nbsp;million (US$38.76&nbsp;million), as compared with CNY87.93&nbsp;million (US$13.60 million) in the corresponding period of 2010. This consisted of (i) payment for the acquisition of property and equipment amounting to CNY222.90&nbsp;million (US$34.48&nbsp;million); (ii) partial payment on the acquisition of Wealthy Year and subsidiaries amounting to <A NAME="OLE_LINK1"></A><A NAME="OLE_LINK2"></A>CNY20.64&nbsp;million (US$3.19&nbsp;million); and (iii) payment for financial instruments amounting to CNY7&nbsp;million (US$1.08&nbsp;million). </P>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><BR>
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<P style="margin:0px" align=center>17 / 20</P>
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<P style="margin-top:0px; margin-bottom:8.867px; text-indent:40px" align=justify>Net cash provided in financing activities for the six months ended June&nbsp;30, 2011 was CNY285.36&nbsp;million (US$44.15&nbsp;million), as compared with CNY48.33&nbsp;million (US$7.48&nbsp;million) net cash used in the corresponding period of 2010. This was primarily attributable to (i) the receipt of CNY24.31&nbsp;million (US$1.50 million at the historical exchange rate of US$1.00=CNY6.4926 and US$2.25 million at the historical exchange rate of US$1.00=CNY6.4750) on the exercise of warrants; and (ii) the loan proceeds of CNY170 million (US$26.30 million) comprised of: CNY70&nbsp;million (US$10.82&nbsp;million) by Guizhou Yongfu on long-term bank loan drawdown; CNY50&nbsp;million (US$7.74&nbsp;million) by Xinsong Coal on long-term bank loan drawdown; and CNY50&nbsp;million (US$7.74&nbsp;million) by Guizhou Puxin on short-term bank loan drawdown, and (iii) a net advances of CNY121.05 million (US$18.73 million) from affiliates, partly offset by bank loan repayment of CNY30 million (US$4.64 million) of Guizhou Puxin. </P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:40px" align=justify>Capital commitments in respect of coal mine development and others as at June&nbsp;30, 2011 amounted to CNY106.25&nbsp;million (US$16.44&nbsp;million).</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:40px" align=justify>As of June 30, 2011, the Company has a working capital deficiency of CNY241.64 million (US$37.38 million). &nbsp;The Shareholder has confirmed to the Company continuous financial support to the Company. The Company is undertaking renewal negotiations with the banks in due course and has, at this stage, not sought any written commitment that the loan facilities will be renewed. However, the Company has held discussion with its bankers about its future borrowing needs and no matters have been drawn to its attention to suggest that renewal may not be forthcoming on acceptable terms. Subsequent to June 30, 2011, the Company has secured additional bank loans amounting to CNY140&nbsp;million (US$21.66 million) for the purpose of mine improvement projects and working capital. The Company&#146;s internal forecasts and projections, taking account of reasonably possible changes in operating performance as well as capital expenditure, additional borrowing capacity, continuous Shareholder&#146;s support and availability of bank facilities, show that the Company should be able to operate within the level of its current capacity.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:40px" align=justify>Except as disclosed above, there have been no significant changes in financial condition and liquidity for the period ended June&nbsp;30, 2011. &nbsp;The Company believes that internally generated funds and/ or equity/ debt financing will be sufficient to satisfy its anticipated working capital needs for at least the next twelve months.</P>
<P style="margin-top:0px; margin-bottom:8.867px; text-indent:41.333px" align=justify>In the event that our operating plans change due to changes in our strategic plans, lower-than-expected revenues, unanticipated expenses, increased competition, unfavorable economic conditions or other unforeseen circumstances, including the continued turmoil and tightening of the credit markets, and further weakening of consumer confidence and spending, our liquidity may be negatively impacted. If so, we could be required to adjust our expenditures for the remainder of 2011 and for 2012 to conserve working capital, or raise additional capital, possibly including debt or equity financing, to fund operations and our growth strategy.</P>
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<P style="margin:0px" align=center>18 / 20</P>
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<P style="margin-top:0px; margin-bottom:8.867px" align=justify><B>OFF BALANCE SHEET ARRANGEMENTS</B></P>
<P style="margin:0px; text-indent:40px" align=justify>The Company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.</P>
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<P style="margin:0px" align=center><B>EXHIBIT INDEX</B></P>
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<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD width=107.4 /><TD /></TR>
<TR><TD style="margin-top:0px; border:1px solid #000000" valign=top width=107.4><P style="margin:0px" align=center><B>Exhibit&nbsp;Number</B></P>
</TD><TD style="margin-top:0px; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px" align=center><B>Description</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=107.4><P style="margin:0px" align=center>99.1</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px">Press Release dated December&nbsp;21, 2011</P>
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<P style="margin:0px" align=center>20 / 20</P>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>chnr_ex99z1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
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<HEAD>
<TITLE>Press Release</TITLE>
<META NAME="author" CONTENT="Anka Consultants Limited">
<META NAME="date" CONTENT="12/20/2011">
</HEAD>
<BODY style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="margin:0px; font-size:12pt" align=right><B>EXHIBIT 99.1</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:12pt" align=justify><B>CONTACT</B></P>
<P style="margin:0px; font-size:12pt" align=justify>Edward Wong, Chief Financial Officer</P>
<P style="margin-top:0px; margin-bottom:10.667px; font-size:12pt" align=justify>011-852-2810-7205 or cfo@chnr.net</P>
<P style="margin-top:0px; margin-bottom:10.667px; font-size:12pt" align=justify><B>FOR IMMEDIATE RELEASE</B></P>
<P style="margin:0px; font-size:12pt" align=center><B>CHINA NATURAL RESOURCES RELEASES</B></P>
<P style="margin-top:0px; margin-bottom:10.667px; font-size:12pt" align=center><B>INTERIM RESULTS OF OPERATIONS</B></P>
<P style="margin-top:0px; margin-bottom:10.667px; font-size:12pt" align=justify>HONG KONG, December&nbsp;21, 2011 &#150; CHINA NATURAL RESOURCES, INC. (NASDAQ: CHNR), a company based in the People&#146;s Republic of China, today released unaudited interim financial information for the three and six months ended June&nbsp;30, 201<FONT style="font-size:11pt">1 </FONT>as follows:</P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><B>CHINA NATURAL RESOURCES, INC. AND SUBSIDIARIES</B></P>
<P style="margin:0px" align=center><B>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED)</B></P>
<P style="margin:0px" align=center><B>THREE AND SIX MONTHS ENDED JUNE 30, 2011 AND 20</B><FONT style="font-family:SimSun,Times New Roman"><B>10</B></FONT></P>
<P style="margin:0px" align=center>(Amounts in thousands, except share and per share data)</P>
<P style="margin:0px" align=justify><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD /><TD width=61.933 /><TD width=17.067 /><TD width=61.933 /><TD width=17.067 /><TD width=61.933 /><TD width=17.067 /><TD width=61.933 /><TD width=17.067 /><TD width=61.933 /><TD width=17.067 /><TD width=61.933 /></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=219.933 colspan=5><P style="margin:0px; padding-right:-7.2px; font-size:8pt" align=center>Three Months Ended June&nbsp;30,</P>
</TD><TD style="margin-top:0px" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=219.933 colspan=5><P style="margin:0px; padding-right:-16.333px; font-size:8pt" align=center>Six Months Ended June&nbsp;30, </P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=61.933><P style="margin:0px; font-size:8pt" align=right>2010</P>
</TD><TD style="margin-top:0px" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" width=61.933><P style="margin:0px; font-size:8pt" align=right>2011</P>
</TD><TD style="margin-top:0px" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" width=61.933><P style="margin:0px; font-size:8pt" align=right>2011</P>
</TD><TD style="margin-top:0px" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=61.933><P style="margin:0px; font-size:8pt" align=right>2010</P>
</TD><TD style="margin-top:0px" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=61.933><P style="margin:0px; font-size:8pt" align=right>2011</P>
</TD><TD style="margin-top:0px" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" width=61.933><P style="margin:0px; font-size:8pt" align=right>2011</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" width=61.933><P style="margin:0px; font-size:8pt" align=right>CNY</P>
</TD><TD style="margin-top:0px" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000" width=61.933><P style="margin:0px; font-size:8pt" align=right>CNY</P>
</TD><TD style="margin-top:0px" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000" width=61.933><P style="margin:0px; font-size:8pt" align=right>US$</P>
</TD><TD style="margin-top:0px" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" width=61.933><P style="margin:0px; font-size:8pt" align=right>CNY</P>
</TD><TD style="margin-top:0px" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" width=61.933><P style="margin:0px; font-size:8pt" align=right>CNY</P>
</TD><TD style="margin-top:0px" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" width=61.933><P style="margin:0px; font-size:8pt" align=right>US$</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; font-size:8pt">NET SALES</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>24,850&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>61,809&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>9,562&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>33,623&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>70,133&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>10,850&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; font-size:8pt">COST OF SALES</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(15,729)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(39,885)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(6,170)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(21,727)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(46,083)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(7,129)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; font-size:8pt">GROSS PROFIT</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>9,121&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>21,924&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>3,392&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>11,896&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>24,050&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>3,721&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; font-size:8pt">SELLING, GENERAL AND </P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; text-indent:5.333px; font-size:8pt">ADMINISTRATIVE EXPENSES,</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:8px; font-size:8pt">including share-based compensation</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:8px; font-size:8pt">expense of CNY13,008 (US$1,904) and &nbsp;nil</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:8px; font-size:8pt">for the six months ended June&nbsp;30, 2010 and 2011, respectively, and CNY6,504 (US$952) and <BR>
nil for the three months ended June 30, 2010 and 2011, respectively</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(24,940)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(18,232)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(2,821)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(37,877)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(35,451)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(5,484)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:8px; text-indent:-8px; font-size:8pt">OTHER OPERATING EXPENSES</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(1,936)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(2,315)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt">OPERATING PROFIT (LOSS)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(17,755)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>3,692&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>571&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(28,296)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(11,401)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(1,763)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; font-size:8pt">FINANCE COST</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(436)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(6,561)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(1,015)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(436)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(11,831)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(1,830)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; font-size:8pt">INTEREST INCOME</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>293&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>246&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>38&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>774&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>372&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>58&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:8px; text-indent:-8px; font-size:8pt">LOSS ATTRIBUTABLE TO INVESTMENTS IN UNCONSOLIDATED INVESTEES</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(1,826)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(3,612)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt">GAIN ON DISPOSAL OF AN UNCONSOLIDATED INVESTEE</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>7,269&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt">GAIN FROM BARGAIN PURCHASE OF A SUBSIDIARY</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>624,148&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt">OTHER INCOME (EXPENSE), NET</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(58)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>19&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>3&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>44&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(54)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(7)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt">PROFIT (LOSS) FROM BEFORE INCOME TAXES</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(19,782)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(2,604)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(403)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>599,891&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(22,914)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(3,542)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; font-size:8pt">INCOME TAXES</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(2,155)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(4,446)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(688)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(3,600)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(5,825)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(901)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt">NET INCOME (LOSS)</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(21,937)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(7,050)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(1,091)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>596,291</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(28,739)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(4,443)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt"><B>OTHER COMPREHENSIVE INCOME (LOSS)</B></P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; font-size:8pt">Foreign currency translation adjustments</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; font-size:8pt">&nbsp;&nbsp;Attributable to CHNR Shareholders</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>3,951&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>5,394&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>835&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>3,844&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>8,279&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>1,281&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; font-size:8pt">&nbsp;&nbsp;Attributable to non-controlling interests</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; font-size:8pt"><B>COMPREHENSIVE INCOME (LOSS)</B></P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(17,986)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(1,656)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(256)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>600,135</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(20,460)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(3,162)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt"><B>COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO:</B></P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt">CHNR Shareholders</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(17,616)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(1,445)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(223)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>600,726&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(20,128)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(3,111)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt">Non-controlling interests</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(370)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(211)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(33)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(591)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(332)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(51)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(17,986)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(1,656)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(256)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>600,135</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(20,460)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(3,162)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt"><B>NET INCOME (LOSS) ATTRIBUTABLE TO:</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; font-size:8pt">CHNR Shareholders</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(21,567)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(6,839)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(1,058)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>596,882&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(28,407)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(4,392)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; font-size:8pt">Non-controlling interests</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(370)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(211)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(33)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(591)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(332)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(51)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(21,937)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(7,050)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(1,091)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>596,291</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(28,739)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(4,443)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; font-size:8pt">EARNINGS (LOSS) PER SHARE:</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; font-size:8pt">Basic</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; font-size:8pt">&nbsp;&nbsp;&nbsp;Income (loss) per share</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(0.96)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(0.30)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(0.05)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>26.94</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(1.25)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(0.19)</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; font-size:8pt">Diluted</P>
</TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; font-size:8pt">&nbsp;&nbsp;&nbsp;Income (loss) per share</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(0.96)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(0.30)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(0.05)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>26.61</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(1.25)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; font-size:8pt" align=right>(0.19)</P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-top:3px double #000000" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; font-size:8pt">WEIGHTED AVERAGE NUMBER</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; text-indent:10.667px; font-size:8pt">OF SHARES OUTSTANDING</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; text-indent:21.333px; font-size:8pt">Basic</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:7.5pt" align=right>22,468,471&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:7.5pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:7.5pt" align=right>22,748,141&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:7.5pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:7.5pt" align=right>22,748,141&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:7.5pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:7.5pt" align=right>22,158,775&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:7.5pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:7.5pt" align=right>22,748,141&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:7.5pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:7.5pt" align=right>22,748,141&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:7.5pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:7.5pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:7.5pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:7.5pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:7.5pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:7.5pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:7.5pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:7.5pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:7.5pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:7.5pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=61.933><P style="margin:0px; padding:0px; font-size:7.5pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; text-indent:21.333px; font-size:8pt">Diluted</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:7.5pt" align=right>22,468,471&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:7.5pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:7.5pt" align=right>22,748,141&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:7.5pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:7.5pt" align=right>22,748,141&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:7.5pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:7.5pt" align=right>22,430,086&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:7.5pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:7.5pt" align=right>22,748,141&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:7.5pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=61.933><P style="margin:0px; font-size:7.5pt" align=right>22,748,141&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC"><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" width=61.933><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:8.867px" align=justify><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center><B>CONDENSED CONSOLIDATED BALANCE SHEETS</B></P>
<P style="margin:0px" align=center><B>AS OF JUNE 30, 2011 AND DECEMBER 31, 20</B><FONT style="font-family:SimSun,Times New Roman"><B>10</B></FONT></P>
<P style="margin:0px" align=center>(Amounts in thousands, except share data)</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=justify><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD /><TD width=15.733 /><TD width=15.733 /><TD width=15.733 /><TD width=59.733 /><TD width=17.067 /><TD width=66 /><TD width=17.067 /><TD width=66 /></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>December&nbsp;31,</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>June&nbsp;30, </P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding-left:-7.2px; font-size:8pt" align=right>June&nbsp;30,</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>2010</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>2011</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>2011</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>CNY</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>CNY </P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>US$</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>(Unaudited)</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>(Unaudited)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; font-size:8pt">CURRENT ASSETS</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Cash</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>126,685&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>105,099&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>16,259&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Restricted cash </P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>21,000&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>3,249&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Available-for-sale financial asset</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>7,000&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>1,083&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Trade receivables</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>13,807&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>27,032&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>4,182&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Bills receivable</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>2,200&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>6,000&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>928&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Prepayment</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>7,791&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>26,334&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>4,074&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Inventories</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>11,454&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>13,042&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>2,018&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Deferred tax assets</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>439&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>140&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>22&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Other receivables</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>14,538&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>17,561&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>2,717&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; font-size:8pt">TOTAL CURRENT ASSETS</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>176,914&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>223,208&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>34,532&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; font-size:8pt">DEFERRED TAX ASSETS</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>1,695&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>1,667&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>258&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt">REHABILITATION FUND</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>20,402&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>28,023&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>4,335&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt">PREPAYMENTS</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>15,825&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>84,579&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>13,085&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; font-size:8pt">PROPERTY AND EQUIPMENT, NET</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>1,823,992&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>1,915,642&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>296,360&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt">TOTAL NON-CURRENT ASSETS</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>1,861,914&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>2,029,911&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>314,038&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; font-size:8pt">TOTAL ASSETS</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>2,038,828&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>2,253,119&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>348,570&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; font-size:8pt">CURRENT LIABILITIES</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Mining rights payable &#150; current</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>19,192&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>25,104&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>3,884&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Short-term bank loan</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>100,000&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>120,000&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>18,565&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Accounts payable</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>82,897&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>60,673&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>9,386&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Bills payable</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>70,000&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>10,829&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Advances from customers</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>1,306&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>7,273&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>1,125&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Accrued liabilities</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>7,117&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>7,491&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>1,159&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Income tax and other taxes payable</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>22,034&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>23,188&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>3,587&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Other payables</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>46,880&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>51,395&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>7,953&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding-left:21.2px; text-indent:-10.667px; font-size:8pt">Interest payable &#150; current</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>4,253&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>3,886&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>601&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; text-indent:10.667px; font-size:8pt">Payables to related parties</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>44,782&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>95,836&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>14,826&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; font-size:8pt">TOTAL CURRENT LIABILITIES</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>328,461&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>464,846&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>71,915&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-top:1px solid #000000" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-top:1px solid #000000" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-top:1px solid #000000" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; font-size:8pt">Long-term bank loans</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>318,742&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>438,742&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>67,876&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; font-size:8pt">Mining rights payable &#150; non-current</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>132,966&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>112,578&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>17,416&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; font-size:8pt">Interest payable &#150; non-current</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>13,205&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>14,035&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>2,171&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; font-size:8pt">Long-term payable to the Shareholder</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>404,093&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>375,255&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>58,054&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; font-size:8pt">Deferred tax liabilities</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>294,250&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>296,255&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>45,832&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; font-size:8pt">Asset retirement obligations</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>9,036&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>9,484&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>1,467&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; font-size:8pt">TOTAL NON-CURRENT LIABILITIES</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>1,172,292&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>1,246,349&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>192,816&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; font-size:8pt">TOTAL LIABILITIES </P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>1,500,753&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>1,711,195&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>264,731&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; font-size:8pt">EQUITY</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; font-size:8pt">China Natural Resources, Inc. equity:</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding-left:3.067px; font-size:8pt">&nbsp;Common shares, no par:</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding-left:21.333px; text-indent:-5.333px; font-size:8pt">Authorized &#150; 200,000,000 shares;</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>&#151;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding-left:21.333px; text-indent:-5.333px; font-size:8pt">Issued and outstanding &#150; 22,723,416 shares and 23,098,416 at December&nbsp;31, 2010 <BR>
and June&nbsp;30, 2011, respectively</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>312,081&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>312,081&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>48,281&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding-left:3.067px; text-indent:5.333px; font-size:8pt">Other equity</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>161,048&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>156,950&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>24,281&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding-left:3.067px; text-indent:5.333px; font-size:8pt">Other comprehensive loss</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>(20,902)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>(12,623)</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>(1,953)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt">TOTAL CHINA NATURAL RESOURCES, INC. EQUITY</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>452,227&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>456,408&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>70,609&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; font-size:8pt">NON-CONTROLLING INTERESTS</P>
</TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>85,848&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>85,516&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>13,230&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:1px solid #000000" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>538,075&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>541,924&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>83,839&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=59.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.067><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000" valign=bottom width=66><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom><P style="margin:0px; padding-left:10.667px; text-indent:-10.667px; font-size:8pt">TOTAL LIABILITIES AND EQUITY </P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=15.733><P style="margin:0px; padding:0px; font-size:8pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=59.733><P style="margin:0px; font-size:8pt" align=right>2,038,828&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>2,253,119&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=17.067><P style="margin:0px; font-size:8pt" align=right>&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC; border-bottom:3px double #000000" valign=bottom width=66><P style="margin:0px; font-size:8pt" align=right>348,570&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:7.133px" align=justify><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin-top:0px; margin-bottom:9.333px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center>2</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin-top:0px; margin-bottom:9.333px; font-size:10.5pt; page-break-before:always" align=justify>For the convenience of the reader, amounts in Renminbi, the Chinese currency (&#147;CNY&#148;), have been translated into United States dollars (&#147;US$&#148;) at the applicable rate of US$1.00 = CNY6.4639 as quoted by Bloomberg Finance L.P. as of June&nbsp;30, 2011. No representation is made that the CNY amounts could have been, or could be, converted into US$ at that rate, or at all. </P>
<P style="margin-top:0px; margin-bottom:10.667px; font-size:10.5pt" align=justify>The condensed consolidated statements of operations and comprehensive income for the three and six months ended June&nbsp;30, 2011 (unaudited) and the condensed consolidated balance sheet as of June&nbsp;30, 2011 (unaudited) are derived from, and should be read in conjunction with, the Company&#146;s unaudited condensed consolidated financial statements for the three and six months ended June&nbsp;30, 2011 and 2010, which was filed with the Securities and Exchange Commission on December&nbsp;14, 2011 under cover of Form&nbsp;6-K. The results of operations for the six months ended June&nbsp;30, 2011 are not necessarily indicative of the results of operations that may be expected for the year ending December&nbsp;31, 2011.</P>
<P style="margin-top:0px; margin-bottom:8.867px; font-size:10.5pt" align=justify>Mr.&nbsp;Feilie Li, the Company's Chairman and CEO, commented on the 2011 interim results &quot;In view of the continuing economic growth in the PRC, we believe that demand for coal will continue to be robust in the foreseeable future. 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.&#148;<FONT style="font-size:10pt"> </FONT></P>
<P style="margin-top:0px; margin-bottom:9.333px; font-size:10.5pt" align=justify>About China Natural Resources, Inc.:</P>
<P style="margin-top:0px; margin-bottom:9.333px; font-size:10.5pt" align=justify>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.</P>
<P style="margin-top:0px; margin-bottom:9.333px; font-size:10.5pt" align=justify>Forward-Looking Statements:</P>
<P style="margin-top:0px; margin-bottom:9.333px; font-size:10.5pt" align=justify>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&#146;s Republic of China; uncertainties associated with metal and coal price volatility; uncertainties associated with the Company&#146;s reliance on third-party contractors and other risks detailed from time to time in the Company&#146;s filings with the Securities and Exchange Commission, including without limitation the information set forth in our Annual Report on Form&nbsp;20-F under the heading &quot;Risk Factors&quot;. 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.</P>
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