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SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2024

SEGMENT INFORMATION

Operating segments are identified on the basis of internal reports about components of the Group that are regularly reviewed by the Group’s management and the Company’s Board of Directors for the purpose of resource allocation and performance assessment.

Management assesses the performance of operating segments based on profit or loss before income tax in related periods. The manner of assessment is consistent with that applied in these financial statements.

After the disposal of PSTT in July 2023, the Group only operates in one operating segment: exploration and mining. Segment performance is evaluated based on reportable segment profit / (loss), which is a measure of adjusted profit / (loss) before tax from continuing operations. The segment analysis below is provided for the Group's continuing operations and does not include any amount from a discontinued operation, namely the wastewater treatment (see Note 3 for information on discontinued operations).

As of and for the year ended December 31, 2024, the segment results were as follows:

Schedule of segment results
	CNY
	Exploration and mining			Corporate activities			Total
Depreciation and amortization		(4	)		—			(4	)
Interest income		3			66			69
Finance costs		(1	)		(27	)		(28	)
Fair value gain on financial instruments, net		—			3,996			3,996
Loss before income tax		(2,190	)		(970	)		(3,160	)
Loss for the year from continuing operations		(2,190	)		(970	)		(3,160	)
Total assets		259,091			1,798			260,889
Total liabilities		162,039			10,788			172,827


	US$
	Exploration and mining			Corporate activities			Total
Depreciation and amortization		(1	)		—			(1	)
Interest income		—			9			9
Finance costs		—			(4	)		(4	)
Fair value gain on financial instruments, net		—			432			432
Loss before income tax		(300	)		(132	)		(432	)
Profit/(loss) for the year from continuing operations		(300	)		(132	)		(432	)
Total assets		35,502			245			35,747
Total liabilities		22,203			1,479			23,682


	CNY
	Exploration and mining			Corporate activities			Total
Depreciation and amortization		(4	)		(692	)		(696	)
Interest income		1			4			5
Finance costs		(1	)		(47	)		(48	)
Fair value gain on financial instruments, net		—			847			847
Profit/(loss) before income tax		1,263			(9,600	)		(8,337	)
Other income*		3,742	*		—			3,742
Profit/(loss) for the year from continuing operations		1,263			(9,600	)		(8,337	)
Total assets		252,133			1,674			253,807
Total liabilities		159,285			18,527			177,812

*In 2023, the Company received RMB3,742 from government of Dengkou County, Inner Mongolia Autonomous Region as reimbursement payments for discontinuing the exploration and development activities in certain nature reserve areas. The amount is recognized in other income as the expenditure on the exploration and development have been fully expensed before 2023.


	CNY
	Exploration and mining			Corporate activities			Total
Depreciation and amortization		(28	)		(701	)		(729	)
Interest income		—			13			13
Finance costs		(1	)		192			191
Fair value gain on financial instruments, net		—			1,007			1,007
Loss before income tax		(39	)		(23,299	)		(23,338	)
Other income		698			1			699
Loss for the year from continuing operations		(39	)		(23,299	)		(23,338	)
Total assets		36,015			213,891			249,906
Total liabilities		38,306			59,296			97,602

The reconciliation from loss for the year from continuing operations to net loss is as follows:

Schedule of reconciliation from loss
	2022			2023			2024			2023
		CNY			CNY			CNY			US$

Loss for the year from continuing operations		(23,338	)		(8,337	)		(3,160	)		(432	)
Loss for the year from discontinued operations		1,042			(4,106	)		—			—
Net loss (including non-controlling interests)		(22,296	)		(12,443	)		(3,160	)		(432	)

Geographical information

(a)

Non-current assets

Schedule of non-current assets
	December 31,
	2023		2024		2024
	CNY		CNY		US$

Mainland China		162		49		7
Hong Kong		247,767		256,484		35,144
Total		247,929		256,533		35,151

The non-current assets information above is based on the locations of the assets and excludes financial instruments and deferred tax assets.