Cover
Cover | 6 Months Ended |
Jun. 30, 2022 | |
Cover [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2022 |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2022 |
Current Fiscal Year End Date | --12-31 |
Entity File Number | 0-26046 |
Entity Registrant Name | China Natural Resources, Inc. |
Entity Central Index Key | 0000793628 |
Entity Address, Address Line One | Room 2205 |
Entity Address, Address Line Two | 22/F |
Entity Address, Address Line Three | West Tower |
Entity Address, City or Town | Sheung Wan |
Entity Address, Country | HK |
Entity Address, Address Line Four | Shun Tak Centre |
Entity Address, Address Line Five | 168-200 Connaught Road Central |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS (UNAUDITED) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) $ / shares | Jun. 30, 2022 CNY (¥) ¥ / shares | Jun. 30, 2021 CNY (¥) ¥ / shares | |
Profit or loss [abstract] | |||
Revenue | $ 2,401 | ¥ 16,072 | ¥ 8,220 |
Cost of sales | (1,309) | (8,771) | (7,109) |
GROSS PROFIT | 1,092 | 7,301 | 1,111 |
Selling and distribution expenses | (61) | (410) | (496) |
Administrative expenses | (1,304) | (8,733) | (12,175) |
Other income | 109 | 731 | 376 |
Fair value (loss)/gain on financial instruments, net | 83 | 559 | (24,807) |
Impairment losses on financial assets | (444) | (2,972) | (993) |
Finance costs | (272) | (1,822) | (2,271) |
Finance income | 1,400 | 9,376 | 8,787 |
LOSS BEFORE INCOME TAX | 603 | 4,030 | (30,468) |
Income tax benefit | (53) | (357) | 633 |
(LOSS)/PROFIT FOR THE YEAR | 550 | 3,673 | (29,835) |
ATTRIBUTABLE TO: | |||
Owners of the Company | 293 | 1,949 | (27,993) |
Non-controlling interests | 257 | 1,724 | (1,842) |
(LOSS)/PROFIT for the year | $ 550 | ¥ 3,673 | ¥ (29,835) |
(LOSS)/EARNINGS PER SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY: | |||
Basic And Diluted Earnings Loss Per Share | (per share) | $ 0.01 | ¥ 0.05 | ¥ (0.69) |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2021 CNY (¥) | |
Profit or loss [abstract] | |||
(LOSS)/PROFIT FOR THE YEAR | $ 550 | ¥ 3,673 | ¥ (29,835) |
Other comprehensive income/(loss) that will be reclassified to profit or loss in subsequent periods: | |||
Foreign currency translation adjustments of the subsidiaries | (688) | (4,616) | 2,646 |
Other comprehensive (loss)/income that will not be reclassified to profit or loss in subsequent periods: | |||
Foreign currency translation adjustments of the Company | 800 | 5,361 | (9,542) |
Total other comprehensive (loss)/income for the period, net of tax | 112 | 745 | (6,896) |
TOTAL COMPREHENSIVE (LOSS)/INCOME FOR THE PERIOD | 662 | 4,418 | (36,731) |
Attributable to: | |||
Owners of the Company | 405 | 2,694 | (34,889) |
Non-controlling interests | 257 | 1,724 | (1,842) |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR | $ 662 | ¥ 4,418 | ¥ (36,731) |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
NON-CURRENT ASSETS | |||
Property, plant and equipment | $ 86 | ¥ 578 | ¥ 715 |
Intangible assets | 2,953 | 19,785 | 20,189 |
Right-of-use assets | 245 | 1,644 | 2,351 |
Trade and bills receivable | 1,262 | 8,455 | 9,501 |
Contract assets | 13,501 | 90,453 | 91,035 |
Deferred tax assets | 80 | 537 | 66 |
Other non-current assets | 2 | 10 | |
TOTAL NON-CURRENT ASSETS | 18,127 | 121,454 | 123,867 |
CURRENT ASSETS | |||
Inventories | 179 | 1,196 | 986 |
Trade and bills receivable | 8,256 | 55,309 | 41,526 |
Contract assets | 2,321 | 15,552 | 15,331 |
Prepayments | 299 | 2,004 | 2,236 |
Other receivables | 13,270 | 88,904 | 86,201 |
Other current assets | 509 | 3,401 | 4,942 |
Cash and cash equivalents | 7,600 | 50,915 | 58,359 |
TOTAL CURRENT ASSETS | 32,434 | 217,281 | 209,581 |
TOTAL ASSETS | 50,561 | 338,735 | 333,448 |
CURRENT LIABILITIES | |||
Trade payables | 2,658 | 17,810 | 21,118 |
Contract liabilities | 104 | 690 | 690 |
Other payables and accruals | 2,636 | 17,663 | 12,098 |
Income tax payable | 1,497 | 10,031 | 9,254 |
Provision | 121 | 808 | |
Dividends payable | 753 | 5,048 | 5,048 |
Derivative financial liabilities | 183 | 1,224 | 1,710 |
Interest-bearing loans and borrowings | 448 | 3,000 | 3,000 |
Lease liabilities | 91 | 613 | 981 |
Due to related companies | 893 | 5,986 | 5,710 |
Due to the Shareholder | 2,097 | 14,050 | 14,050 |
TOTAL CURRENT LIABILITIES | 11,481 | 76,923 | 73,659 |
NON-CURRENT LIABILITIES | |||
Deferred tax liabilities | 272 | 1,824 | 2,544 |
Lease liabilities | 155 | 1,033 | 1,208 |
Interest-bearing loans and borrowings | 10,822 | 72,500 | 74,000 |
TOTAL NON-CURRENT LIABILITIES | 11,249 | 75,357 | 77,752 |
TOTAL LIABILITIES | 22,730 | 152,280 | 151,411 |
EQUITY | |||
Issued capital | 67,286 | 450,782 | 450,782 |
Other capital reserves | 107,338 | 719,110 | 719,110 |
Accumulated losses | (161,570) | (1,082,438) | (1,084,387) |
Other comprehensive losses | (1,504) | (10,076) | (10,821) |
EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY | 11,550 | 77,378 | 74,684 |
NON-CONTROLLING INTERESTS | 16,281 | 109,077 | 107,353 |
TOTAL EQUITY | 27,831 | 186,455 | 182,037 |
TOTAL LIABILITIES AND EQUITY | $ 50,561 | ¥ 338,735 | ¥ 333,448 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) ¥ in Thousands, $ in Thousands | Issued capital [member] USD ($) | Issued capital [member] CNY (¥) | Other reserves [member] USD ($) | Other reserves [member] CNY (¥) | Retained earnings [member] USD ($) | Retained earnings [member] CNY (¥) | Other Comprehensive Income Loss [Member] USD ($) | Other Comprehensive Income Loss [Member] CNY (¥) | Total [Member] USD ($) | Total [Member] CNY (¥) | Non-controlling interests [member] USD ($) | Non-controlling interests [member] CNY (¥) | USD ($) | CNY (¥) |
Beginning balance, value at Dec. 31, 2020 | ¥ 419,091 | ¥ 787,987 | ¥ (1,031,187) | ¥ (3,164) | ¥ 172,727 | ¥ 119,072 | ¥ 291,799 | |||||||
IfrsStatementLineItems [Line Items] | ||||||||||||||
Profit for the period | (27,993) | (27,993) | (1,842) | (29,835) | ||||||||||
Foreign currency translation adjustments | (6,896) | (6,896) | (6,896) | |||||||||||
Total comprehensive income | (27,993) | (6,896) | (34,889) | (1,842) | (36,731) | |||||||||
Dividends paid to non-controlling shareholders | (5,048) | (5,048) | (5,048) | |||||||||||
Issuance of shares | 31,691 | 31,691 | 31,691 | |||||||||||
Equity-settled share-based payment | 2,311 | 2,311 | 2,311 | |||||||||||
Ending balance, value at Jun. 30, 2021 | 450,782 | 790,298 | (1,064,228) | (10,060) | 166,792 | 117,230 | 284,022 | |||||||
Beginning balance, value at Dec. 31, 2021 | 450,782 | 719,110 | (1,084,387) | (10,821) | 74,684 | 107,353 | 182,037 | |||||||
IfrsStatementLineItems [Line Items] | ||||||||||||||
Profit for the period | 1,949 | 1,949 | 1,724 | $ 550 | 3,673 | |||||||||
Foreign currency translation adjustments | 745 | 745 | 745 | |||||||||||
Total comprehensive income | 1,949 | 745 | 2,694 | 1,724 | 4,418 | |||||||||
Ending balance, value at Jun. 30, 2022 | ¥ 450,782 | ¥ 719,110 | ¥ (1,082,438) | ¥ (10,076) | ¥ 77,378 | ¥ 109,077 | 186,455 | |||||||
Ending Balance at Jun. 30, 2022 | $ 67,286 | $ 107,338 | $ (161,570) | $ (1,504) | $ 11,550 | $ 16,281 | $ 27,831 | ¥ 186,455 |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2021 CNY (¥) | |
Statement of cash flows [abstract] | |||
OPERATING ACTIVITIES | $ (665) | ¥ (4,482) | ¥ 2,550 |
INVESTING ACTIVITIES | |||
Interest received | 3,800 | ||
Additions of service concession right | (68) | ||
Purchase of property, plant and equipment | (1) | (6) | (2) |
Purchase of structured deposit product | (40,000) | ||
Disposal of property, plant and equipment | 3 | ||
Disposal of a subsidiary | (263) | ||
Loan to an unrelated company | (80,000) | ||
Repayment from loans due from related companies | 125,000 | ||
Proceeds from maturity of structured deposit product | 45,000 | ||
Proceeds from maturity of structured deposit product | (1) | (3) | 53,467 |
FINANCING ACTIVITIES | |||
Proceeds from issuance of shares | 41,996 | ||
Repayments of bank loans | (224) | (1,500) | (1,500) |
Advances from related companies | 22 | 149 | 430 |
Repayment to related companies | (50,100) | ||
Repayments to the Shareholder | (7,155) | ||
Payment of principal portion of lease liabilities | (81) | (543) | (665) |
Payment of interest expenses of lease liabilities | (8) | (53) | (86) |
Dividends paid to non-controlling shareholders | (2,400) | ||
Interest paid | (292) | (1,954) | (2,032) |
Net cash flows used in financing activities | (583) | (3,901) | (21,512) |
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | (1,249) | (8,386) | 34,505 |
NET FOREIGN EXCHANGE DIFFERENCE | 138 | 942 | 860 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 8,711 | 58,359 | 56,580 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | $ 7,600 | ¥ 50,915 | ¥ 91,945 |
ORGANIZATION AND PRINCIPAL ACTI
ORGANIZATION AND PRINCIPAL ACTIVITIES | 6 Months Ended |
Jun. 30, 2022 | |
Organization And Principal Activities | |
ORGANIZATION AND PRINCIPAL ACTIVITIES | 1. ORGANIZATION AND PRINCIPAL ACTIVITIES China Natural Resources, Inc. (“CHNR” or the “Company”) is a British Virgin Islands (“BVI”) holding company incorporated in 1993. The address of the principal executive office is Room 2205, 22/F, West Tower, Shun Tak Centre, 168-200 Connaught Road Central, Sheung Wan, Hong Kong. The Company’s principal activity is investment holding. The Company’s subsidiaries (collectively with CHNR, the “Group”) are primarily involved in the exploration and mining and wastewater treatment businesses in the People’s Republic of China (“PRC”). CHNR’s principal shareholder is Feishang Group Limited (“Feishang Group” or the “Shareholder”), a BVI corporation. Mr. Li Feilie is the controlling shareholder of Feishang Group. In the opinion of the directors of the Company (the “Directors”), the ultimate parent of CHNR is Laitan Investment Limited, a BVI corporation. |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2022 | |
Basis Of Presentation | |
BASIS OF PRESENTATION | 2.1 BASIS OF PRESENTATION The interim condensed consolidated financial statements for the six months ended June 30, 2022 have been prepared in accordance with International Accounting Standard (“IAS”) 34 Interim Financial Reporting The Group has prepared the financial statements on the basis that it will continue to operate as a going concern. The Directors consider that there are no material uncertainties that may cast significant doubt over this assumption. They have formed a judgement that there is a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future, and not less than 12 months from the end of the reporting period. The interim condensed consolidated financial statements do not include all the information and footnotes required by International Financial Reporting Standards (“IFRS”) for complete financial statements, and should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Group’s annual report on Form 20-F for the year ended December 31, 2021 (the “2021 Annual Report”). The condensed consolidated financial statements include the accounts of CHNR and those subsidiaries in which CHNR has direct or indirect controlling interests. The Company’s subsidiaries as of June 30, 2022 are as described in the 2021 Annual Report. The Company accounted for the common-control acquisitions disclosed in Note 29 of the 2021 Annual Report by using the pooling of interest method. The condensed consolidated statement of comprehensive income includes the results of each of the combining entities or businesses from the earliest date presented or since the date when the combining entities or businesses first came under common control, where this is a shorter period, regardless of the date of the common control combination. In this report, the comparative financial data of have been restated to reflect the business combinations under common control occurred. For the convenience of readers, amounts in Renminbi, the Chinese currency (“CNY”), have been translated into United States dollars (“US$”) at the applicable rate of US$1.00 = CNY6.6995 |
CHANGES IN ACCOUNTING POLICIES
CHANGES IN ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2022 | |
Changes In Accounting Policies | |
CHANGES IN ACCOUNTING POLICIES | 2.2 CHANGES IN ACCOUNTING POLICIES The accounting policies adopted in the preparation of the interim condensed consolidated financial information are consistent with those applied in the preparation of the Group’s annual consolidated financial statements for the year ended December 31, 2021, except for the adoption of the following IFRS for the first time for the current period’s financial information. Amendments to IFRS 3 Reference to the Conceptual Framework Amendments to IAS 16 Property, Plant and Equipment: Proceeds before Intended Use Amendments to IAS 37 Onerous Contracts – Cost of Fulfilling a Contract Annual Improvements to IFRSs 2018-2020 Amendments to IFRS 1, IFRS 9, Illustrative Examples accompanying IFRS 16, and IAS 41 (a) Amendments to IFRS 3 replace a reference to the previous Framework for the Preparation and Presentation of Financial Statements Conceptual Framework for Financial Reporting (b) Amendments to IAS 16 prohibit an entity from deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognizes the proceeds from selling any such items, and the cost of those items, in profit or loss. The Group has applied the amendments retrospectively to items of property, plant and equipment made available for use on or after January 1, 2022. Since there was no sale of items produced while making property, plant and equipment available for use on or after January 1, 2022, the amendments did not have any impact on the financial position or performance of the Group. (c) Amendments to IAS 37 clarify that for the purpose of assessing whether a contract is onerous under IAS 37, the cost of fulfilling the contract comprises the costs that relate directly to the contract. Costs that relate directly to a contract include both the incremental costs of fulfilling that contract (e.g., direct labor and materials) and an allocation of other costs that relate directly to fulfilling that contract (e.g., an allocation of the depreciation charge for an item of property, plant and equipment used in fulfilling the contract as well as contract management and supervision costs). General and administrative costs do not relate directly to a contract and are excluded unless they are explicitly chargeable to the counterparty under the contract. The Group has applied the amendments prospectively to contracts for which it has not yet fulfilled all its obligations at January 1, 2022 and no onerous contracts were identified. Therefore, the amendments did not have any impact on the financial position or performance of the Group. (d) Annual Improvements to IFRSs 2018-2020 · IFRS 9 Financial Instruments · IFRS 16 Leases |
SEGMENT INFORMATION
SEGMENT INFORMATION | 6 Months Ended |
Jun. 30, 2022 | |
Segment Information | |
SEGMENT INFORMATION | 3. 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. As of June 30, 2022, the Group’s two reportable operating segments are summarized below: - Wastewater treatment segment, which consists of sales of assembled equipment, provision of construction services and participating in PPP projects as operator; - Exploration and mining segment, which consists of the exploration for lead, silver and other metals in the Inner Mongolia Autonomous Region of the PRC; Deferred tax assets, income tax payable and deferred tax liabilities are excluded from segment assets and segment liabilities. The Group had neither sales of products nor provisions of services between the operating segments. For the six months ended June 30, 2021, the segment results were as follows: Schedule of Segment Results Wastewater treatment Exploration and mining Corporate activities Total CNY CNY CNY CNY Six months ended June 30, 2021 (As adjusted and unaudited) Revenues from external customers 8,220 — — 8,220 Segment profit/(loss) before income tax 179 (333 ) (30,314 ) (30,468 ) Income tax benefit 633 Loss for the period (29,835 ) Other items Depreciation of property, plant and equipment (124 ) (31 ) (2 ) (157 ) Depreciation of right of use assets (321 ) — (360 ) (681 ) Amortization of intangible assets (441 ) — — (441 ) Impairment (losses)/reversal on financial assets - Trade receivables (1,920 ) — — (1,920 ) - Contract assets (179 ) — — (179 ) - Amounts due from related companies 775 — 331 1,106 Fair value loss on financial instruments, net — — (24,807 ) (24,807 ) Other income 76 300 — 376 Finance costs (2,142 ) — (129 ) (2,271 ) Finance income 8,782 — 5 8,787 For the six months ended June 30, 2022, the segment results were as follows: Wastewater treatment Exploration and mining Corporate activities Total CNY CNY CNY CNY Six months ended June 30, 2022 (Unaudited) Revenues from external customers 16,072 — — 16,072 Segment profit before income tax 3,784 245 1 4,030 Income tax expenses (357 ) Profit for the period 3,673 Other items Depreciation of property, plant and equipment (114 ) (26 ) (1 ) (141 ) Depreciation of right of use assets (347 ) — (360 ) (707 ) Amortization of intangible assets (404 ) — — (404 ) Impairment (losses)/reversal on financial assets - Trade receivables (1,936 ) — — (1,936 ) - Contract assets 41 — — 41 - Other receivables — — (1,077 ) (1,077 ) Other income 30 700 1 731 Fair value gain on financial instruments — — 559 559 Finance costs (1,799 ) (1 ) (22 ) (1,822 ) Finance income 7,857 — 1,519 9,376 For the six months ended June 30, 2022, the segment results were as follows (continued): Wastewater treatment Exploration and mining Corporate activities Total US$ US$ US$ US$ Six months ended June 30, 2022 (Unaudited) Revenues from external customers 2,401 — — 2,401 Segment profit before income tax 566 37 — 603 Income tax expenses (53 ) Profit for the period 550 Other items Depreciation of property, plant and equipment (17 ) (4 ) — (21 ) Depreciation of right of use assets (52 ) — (54 ) (106 ) Amortization of intangible assets (60 ) — — (60 ) Impairment (losses)/reversal on financial assets - Trade receivables (289 ) — — (289 ) - Contract assets 6 — — 6 - Other receivables — — (161 ) (161 ) Other income 4 105 — 109 Fair value gain on financial instruments — — 83 83 Finance costs (269 ) — (3 ) (272 ) Finance income 1,398 — 2 1,400 The following table presents the asset and liability information of the Group’s operating segments as of December 31, 2021 and June 30, 2022: Schedule of operating segment Wastewater treatment Exploration and mining Corporate activities Total CNY CNY CNY CNY As of December 31, 2021 (Audited) Segment assets 390,895 321 22,166 413,382 Reconciliation: Elimination of inter-segment receivables (80,000 ) Unallocated assets: Deferred tax assets 66 Total assets 333,448 Segment liabilities 113,124 3,294 103,195 219,613 Reconciliation: Elimination of inter-segment payables (80,000 ) Unallocated liabilities: Deferred tax liabilities 2,544 Income tax payable 9,254 Total liabilities 151,411 Wastewater treatment Exploration and mining Corporate activities Total CNY CNY CNY CNY As of June 30, 2022 (Unaudited) Segment assets 398,064 573 19,561 418,198 Reconciliation: Elimination of inter-segment receivables (80,000 ) Unallocated assets: Deferred tax assets 537 Total assets 338,735 Segment liabilities 115,995 3,301 101,129 220,425 Reconciliation: Elimination of inter-segment payables (80,000 ) Unallocated liabilities: Deferred tax liabilities 1,824 Income tax payable 10,031 Total liabilities 152,280 The following table presents the asset and liability information of the Group’s operating segments as of December 31, 2021 and June 30, 2022(continued): Wastewater treatment Exploration and mining Corporate activities Total US$ US$ US$ US$ As of June 30, 2022 (Unaudited) Segment assets 59,416 86 2,920 62,422 Reconciliation: Elimination of inter-segment receivables (11,941 ) Unallocated assets: Deferred tax assets 80 Total assets 50,561 Segment liabilities 17,314 493 15,096 32,903 Reconciliation: Elimination of inter-segment payables (11,942 ) Unallocated liabilities: Deferred tax liabilities 272 Income tax payable 1,497 Total liabilities 22,730 |
REVENUE FROM CONTRACT WITH CUST
REVENUE FROM CONTRACT WITH CUSTOMERS | 6 Months Ended |
Jun. 30, 2022 | |
Revenue From Contract With Customers | |
REVENUE FROM CONTRACT WITH CUSTOMERS | 4. REVENUE FROM CONTRACT WITH CUSTOMERS Set out below is the disaggregation of the Group’s revenue from contracts with customers: Schedule of Disaggregated Revenue Information Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) Type of goods or services Construction contract revenue 4,601 12,639 1,889 Operation services of service concession arrangement 3,223 3,433 512 Construction services of service concession arrangement 396 — — Total revenue from contracts with customers 8,220 16,072 2,401 Geographic market Mainland China 8,220 16,072 2,401 Timing of revenue recognition Over time 8,220 16,072 2,401 Total revenue from contracts with customers 8,220 16,072 2,401 (i) The Group had neither revenue from the exploration and mining segment nor inter-segment revenue for six months ended June 30, 2021 and 2022. No revenue was recognized in the current reporting period that was included in the contract liabilities at the beginning of the reporting period and recognized from performance obligations satisfied in previous periods. (ii) Performance obligation Construction services The Group’s performance in respect of construction services creates or enhances an asset or work in progress that the customer controls as the asset is created or enhanced. The Group satisfies the performance obligation and recognizes revenue over time, by reference to completion of the specific transaction assessed on the basis of the surveyors’ assessment of work performed for each contract. Operation services of service concession arrangements The operation revenue from service concession arrangements is recognized over the period of time that the services are rendered, and the benefits are received and consumed simultaneously by the customers. (iii) Significant financing components The majority of the Group’s customers are town/village government entities or main contractors of governmental infrastructure projects whose time of payment for the service or goods received from the Group depends on the appropriation and approval of funds. Certain customers for construction services, sales of wastewater treatment equipment, and maintenance services will generally settle the amounts owed to the Group in a number of specified instalments covering periods ranging from one year to five years. Therefore, the Group’s management considers the contracts with customers which are town/village government entities or main contractors of the governmental infrastructure projects as containing a significant financing component. For each of the six months ended June 30, 2021 and 2022, the respective revenue considerations were adjusted for this financing component based on an imputed interest rate of 4.75% per annum and the Group’s revenue was adjusted to CNY288 (as adjusted), and CNY771, respectively. The interest income related to the significant financing components is disclosed in Note 5 to the financial statements. |
FINANCE INCOME AND COSTS
FINANCE INCOME AND COSTS | 6 Months Ended |
Jun. 30, 2022 | |
Finance Income And Costs | |
FINANCE INCOME AND COSTS | 5. FINANCE INCOME AND COSTS Schedule of finance income and cost Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) Finance income Interest income on loans to a related party/ third party 3,396 3,396 507 Interest income on revenue contracts with significant financing component 1,132 2,547 380 Interest income from service concession arrangement 3,988 3,389 506 Interest income on structured deposits 219 — — Interest income on bank deposit 52 44 7 8,787 9,376 1,400 Finance costs Interest expenses on loans 2,032 1,954 292 Interest expense on lease liabilities 86 53 8 Other finance costs 210 (185 ) (28 ) Less: interest expense capitalized into intangible assets-concession right* (57 ) — — 2,271 1,822 272 * The borrowing costs have been capitalized at a rate of 5.05% |
(LOSS)_PROFIT BEFORE INCOME TAX
(LOSS)/PROFIT BEFORE INCOME TAX | 6 Months Ended |
Jun. 30, 2022 | |
Lossprofit Before Income Tax | |
(LOSS)/PROFIT BEFORE INCOME TAX | 6. (LOSS)/PROFIT BEFORE INCOME TAX The Group’s (loss)/profit before tax is arrived at after (crediting)/charging: Schedule of Group's Loss Before Income Tax Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) Crediting: Finance income (Note 5) (8,787 ) (9,376 ) (1,400 ) Charging: Cost of sales - Construction service 3,916 5,107 762 - Operation services related to service concession arrangement 2,804 3,664 547 - Construction services related to service concession arrangement 389 — — Total 7,109 8,771 1,309 Depreciation - Property, plant and equipment 157 141 21 - Right-of-use assets (Note 11) 681 707 106 Amortization of intangible assets* (Note 10) 441 404 60 Expense relating to short-term leases 338 174 26 Impairment losses/(reversal) on financial assets: - Trade receivables 1,920 1,936 289 - Contract assets 179 (41 ) (6 ) - Other receivables — 1,077 161 - Amounts due from related companies (1,106 ) — — Fair value (gain)/loss on financial instruments: - Financial assets at fair value through profit or loss (Note 18(a)) 26,015 — — - Derivative financial liabilities (Note 18(b)) (1,208 ) (559 ) (83 ) Issuance expense in related to placement 1,579 — — Other income (376 ) (731 ) (109 ) Finance costs (Note 5) 2,271 1,822 272 Employee benefit expenses * 5,751 5,772 861 * The employee benefit expenses and amortization of intangible assets for the year are included in “Cost of sales” and “Administrative expenses” on the face of the consolidated statement of profit or loss. |
INCOME TAX (BENEFIT)_EXPENSE
INCOME TAX (BENEFIT)/EXPENSE | 6 Months Ended |
Jun. 30, 2022 | |
Income Tax Benefitexpense | |
INCOME TAX (BENEFIT)/EXPENSE | 7. INCOME TAX (BENEFIT)/EXPENSE The Company is incorporated in the BVI and conducts its primary business operations through its subsidiaries in mainland China. It also has intermediate holding companies in the BVI and Hong Kong. Under the current laws of the BVI, the Company and its subsidiaries incorporated in the BVI are not subject to tax on income or capital gains. The Hong Kong Profits Tax rate is 16.50 China Under the Law of the PRC on corporate income tax and the Implementation Regulation of the Corporate Income Tax Law (collectively, the “CIT Law”), the Company’s PRC subsidiaries are generally subject to PRC corporate income tax at the statutory rate of 25 12.5 Under the prevailing CIT Law and its relevant regulations, any dividends paid by the Company’s mainland China subsidiaries from their earnings derived after January 1, 2008 to the Company’s Hong Kong subsidiaries are subject to PRC dividend withholding tax of 5 10 The current and deferred components of income tax (benefit)/expense are as follows: Schedule of deferred component of income tax expenses Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) Current income tax expense 685 1,548 231 Deferred income tax benefit (1,318 ) (1,191 ) (178 ) Total (633 ) 357 53 |
(LOSS)_EARNINGS PER SHARE
(LOSS)/EARNINGS PER SHARE | 6 Months Ended |
Jun. 30, 2022 | |
(LOSS)/EARNINGS PER SHARE | 8. (LOSS)/EARNINGS PER SHARE Basic (loss)/earnings per share is calculated by dividing the (loss)/earnings for the period attributable to ordinary equity holders of the Company by the weighted average number of common shares outstanding during the period. Diluted (loss)/earnings per share is calculated by dividing the (loss)/earnings attributable to ordinary equity holders of the Company by the weighted average number of common shares outstanding during the period plus the weighted average number of common shares that would be issued on conversion of all outstanding dilutive securities into common shares. Basic and diluted net (loss)/earnings per share for the six months ended June 30, 2021 and 2022 are as follows: Schedule of Basic and Diluted Loss Earnings Per Share Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) (Loss)/Earnings: (Loss)/Earnings attributable to ordinary equity holders of the Company (27,993 ) 1,949 293 Number of Shares: Weighted average number of common shares for basic and diluted loss per share: Basic and diluted 40,488,634 40,948,082 40,948,082 (Loss)/Earnings per share: Basic and diluted (0.69 ) 0.05 0.01 The Company did not have any potential diluted shares for the six months ended June 30, 2021 and 2022. For the period ended June 30, 2022, the effects of the outstanding warrants were anti-dilutive and excluded from the computation of diluted loss per share. Accordingly, the diluted (loss)/earnings per share amounts are the same as the basic (loss)/earnings per share amounts for all periods presented. |
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 6 Months Ended |
Jun. 30, 2022 | |
Property, plant and equipment [abstract] | |
PROPERTY, PLANT AND EQUIPMENT | 9. PROPERTY, PLANT AND EQUIPMENT Schedule of Property Plant and Equipment December 31, June 30, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) At cost: Buildings 46 46 7 Machinery and equipment 1,177 1,084 162 Motor vehicles 2,486 2,486 371 Office and other equipment 728 734 110 4,437 4,350 650 Accumulated depreciation and amortization (3,722 ) (3,772 ) (564 ) Net book value 715 578 86 |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 6 Months Ended |
Jun. 30, 2022 | |
Intangible Assets | |
INTANGIBLE ASSETS | 10. INTANGIBLE ASSETS Schedule of intangible assets Patent Concession Right Software Total CNY CNY CNY CNY Cost As of January 1, 2021 (As adjusted) 22,878 — 274 23,152 Transfer in — 20,430 — 20,430 As of December 31, 2021 22,878 20,430 274 43,582 Accumulated amortization and impairment As of January 1, 2021 (As adjusted) (22,388 ) — (121 ) (22,509 ) Amortization charge (105 ) (730 ) (49 ) (884 ) As of December 31, 2021 (22,493 ) (730 ) (170 ) (23,393 ) Net carrying amount As of December 31, 2021 385 19,700 104 20,189 Cost As of January 1, 2022 and June 30, 2022 22,878 20,430 274 43,582 Accumulated amortization and impairment losses As of January 1, 2022 (22,493 ) (730 ) (170 ) (23,393 ) Amortization charge (19 ) (365 ) (20 ) (404 ) As of June 30, 2022 (22,512 ) (1,095 ) (190 ) (23,797 ) Net carrying amount As of June 30, 2022 366 19,335 84 19,785 As of June 30, 2022 (US$) 55 2,886 12 2,953 As of December 31, 2021 and June 30, 2022, the Group’s concession rights associated with environmental water projects (comprising intangible assets, contract assets and trade receivables) with aggregate gross carrying amounts of CNY129,437 and CNY133,750, respectively, were pledged to secure bank loans from the Bank of Communications with outstanding balances of CNY77,000 and CNY75,500, respectively. Please refer to Note 20 for further details. There was no impairment loss on intangible assets for the year ended December 31, 2021 and six months ended June 30, 2022. |
LEASES
LEASES | 6 Months Ended |
Jun. 30, 2022 | |
LEASES | 11. LEASES (a) Right-of-use assets The carrying amounts of the Group’s right-of-use assets and the movements during the year/period are as follows: Schedule of right of use assets Motor Vehicles Offices and warehouse Total CNY CNY CNY As of January 1, 2021 408 3,152 3,560 Addition — 157 157 Depreciation charge (163 ) (1,203 ) (1,366 ) As of December 31, 2021 245 2,106 2,351 As of January 1, 2022 245 2,106 2,351 Depreciation charge (82 ) (625 ) (707 ) As of June 30, 2022 163 1,481 1,644 As of June 30, 2022 (US$) 24 221 245 (b) Lease liabilities The carrying amount of lease liabilities and the movements during the year/period are as follows: Schedule of lease liabilities Motor Vehicles Offices and Warehouse Total CNY CNY CNY As of January 1, 2021 502 3,048 3,550 Addition — 102 102 Accretion of interest recognized during the period 17 133 150 Payments (364 ) (1,249 ) (1,613 ) As of December 31, 2021 155 2,034 2,189 Analyzed into: Current portion 155 826 981 Non-current portion — 1,208 1,208 As of January 1, 2022 155 2,034 2,189 Accretion of interest recognized during the period 4 49 53 Payments — (596 ) (596 ) As of June 30, 2022 159 1,487 1,646 Analyzed into: Current portion 159 454 613 Non-current portion — 1,033 1,033 As of June 30, 2022 (US$) 24 222 246 Current portion (US$) 24 67 91 Non-current portion (US$) — 155 155 (c) Lease related expenses The following are the amounts recognized in profit of loss in relation to leases: Schedule of lease related expenses Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) Depreciation expense of right-of-use assets 681 707 106 Interest on lease liabilities 86 53 8 Expense relating to short-term leases 338 174 26 Total amounts recognized in profit or loss 1,105 934 140 |
TRADE AND BILLS RECEIVABLE
TRADE AND BILLS RECEIVABLE | 6 Months Ended |
Jun. 30, 2022 | |
Trade And Bills Receivable | |
TRADE AND BILLS RECEIVABLE | 12. TRADE AND BILLS RECEIVABLE Schedule of Trade Receivables December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Non-current Trade receivables from third parties 17,033 16,815 2,510 Less: Impairment allowance (7,532 ) (8,360 ) (1,248 ) Total of Non-current trade receivables 9,501 8,455 1,262 Current Trade receivables from third parties 51,608 54,799 8,180 Less: Impairment allowance (10,082 ) (11,190 ) (1,670 ) Total of current trade receivables 41,526 43,609 6,510 Bills receivable At fair value through other comprehensive income — 11,700 1,746 Total 51,027 63,764 9,518 Ageing analysis of accounts receivable and bills receivable was as follows: Schedule of Aging Analysis of Trade Payables December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Within 1 year 19,026 40,398 6,031 Between 1-2 years 5,106 3,740 558 Between 2-3 years 12,796 10,835 1,617 Over 3 years 14,099 8,791 1,312 Total 51,027 63,764 9,518 Movements of loss allowance during the year/period are analyzed as follows: Schedule of loss allowance for trade receivables Year Ended December 31, Six Months Ended June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Beginning of the year/period 13,774 17,614 2,629 Provision for expected credit losses (“ECLs”) 3,840 1,936 289 End of the year/period 17,614 19,550 2,918 The Group elected to apply the simplified approach for providing impairment for ECLs prescribed by IFRS 9, which permits the use of the lifetime expected loss provision for all trade receivables. To measure the ECLs, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The ECLs below also incorporate forward looking information. The impairment as of December 31, 2021 and June 30, 2022 was determined as follows: Schedule of impairment Past due Current within 1 years 1-2 years 2-3 years over 3 years Total As of December 31, 2021: Expected credit loss rate 6 % 26 % 13 % 48 % 26 % Gross carrying amount (CNY) 3,670 16,311 6,865 14,712 27,083 68,641 Impairment allowances (CNY) 955 1,759 1,916 (i) 12,984 (ii) 17,614 As of June 30, 2022: Expected credit loss rate 10 % 10 % 10 % 60 % 20 % Gross carrying amount (CNY) 331 42,479 4,186 12,412 23,906 83,314 Impairment allowances (CNY) 2,412 446 1,577 (i) 15,115 (ii) 19,550 Impairment allowances (US$) 360 67 235 2,256 2,918 (i) The impairment allowances included CNY221 and CNY211 as of December 31, 2021 and June 30, 2022, respectively, for specific trade receivables which were considered to be in default due to conditions which indicated that the Group was unlikely to receive the outstanding contractual amounts in full. (ii) The impairment allowances included an amount of CNY4,646 and CNY4,588 as of December 31, 2021 and June 30, 2022, respectively, for specific trade receivables which were considered to be in default due to conditions which indicated that the Group was unlikely to receive the outstanding contractual amounts in full. |
CONTRACT ASSETS
CONTRACT ASSETS | 6 Months Ended |
Jun. 30, 2022 | |
Contract assets [abstract] | |
CONTRACT ASSETS | 13. CONTRACT ASSETS Schedule of contract assets December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Non-current Service concession assets (a) 91,062 90,480 13,505 Less: impairment allowance (27 ) (27 ) (4 ) 91,035 90,453 13,501 Current Service concession assets (a) 7,423 7,422 1,108 Other contract assets (b) 8,443 8,706 1,299 Less: impairment allowance (535 ) (576 ) (86 ) 15,331 15,552 2,321 Total 106,366 106,005 15,822 (a) Service concession assets bearing an imputed interest of 7% arose from the Group’s revenue from construction service under a build-own-transfer (“BOT”) arrangement rendered by the Group’s subsidiary, Shaoguan Angrui Environmental Technology Development Co., Limited (“Shaoguan Angrui”). The facilities that the service concession arrangement relate to were under construction phases from June 2018 to December 2020 and commenced operation in January 2021. The amounts for the service concession arrangement are not yet due for payment and will be settled by revenue to be generated during the operating periods of the service concession arrangement. Amounts billed will be transferred to trade receivables. As of December 31, 2021 and June 30, 2022, the Group’s concession rights associated with the environmental water projects (comprising intangible assets, contract assets and trade receivables) with aggregate gross carrying amounts of CNY129,437 and CNY133,750, respectively, were pledged to secure bank loans from the Bank of Communications with outstanding balances of CNY77,000 and CNY75,500, respectively. Please refer to Note 20 for further details. (b) The balance as of December 31, 2021 and June 30, 2022 comprised contract assets arising from performance under water treatment plant construction service contracts. Such contracts include payment schedules which require stage payments over the service periods once milestones are reached. The movements in the provision for impairment of contract assets are as follows: Schedule of provision for impairment of contract assets Year Ended December 31, Six Months Ended June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Beginning of the year/period 205 562 84 Provision for expected credit loss, net 357 41 6 End of the year/period 562 603 90 An impairment analysis is performed at each reporting date using the probability-of-default approach to measure expected credit losses. The probability of default rates are estimated 0.03 55.93 0.03 54.78 |
OTHER RECEIVABLES
OTHER RECEIVABLES | 6 Months Ended |
Jun. 30, 2022 | |
Other Receivables | |
OTHER RECEIVABLES | 14. OTHER RECEIVABLES Schedule of other receivables December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Financial assets Loans to an unrelated company (i) 83,600 87,200 13,016 Deposits 863 986 147 Others 1,000 1,000 149 Financial assets 85,463 89,186 13,312 Staff advance 697 750 112 Others 280 284 42 Total amount 977 1,034 154 Impairment allowance (239 ) (1,316 ) (196 ) Total 86,201 88,904 13,270 (i) The balance as of June 30, 2022 consisted of the loan from Shenzhen Qianhai Feishang Environmental Investment Co., Limited (“Shenzhen Qianhai”), a subsidiary of the Company, to an unrelated company, Shenzhen Chaopeng Investment Co., Ltd., amounting to CNY80,000, and its corresponding interest receivable amounting to CNY7,200. The loan, with a maturity date of June 30, 2023, is interest bearing at a rate of 9% per annum and guaranteed by Shenzhen Feishang Investment Co., Limited, a company unrelated to the Group. |
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS | 6 Months Ended |
Jun. 30, 2022 | |
Cash and cash equivalents [abstract] | |
CASH AND CASH EQUIVALENTS | 15. CASH AND CASH EQUIVALENTS Cash and cash equivalents are set out below as of December 31, 2021 and June 30, 2022: Schedule of cash and cash equivalents December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Cash and cash equivalents - Cash on hand 74 70 11 - Cash at bank 58,285 50,845 7,589 Cash and cash equivalents 58,359 50,915 7,600 The carrying amounts of the Group’s cash and cash equivalents are denominated in the following currencies: Schedule of Group’s cash and cash equivalents December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) CNY 37,333 31,228 4,662 US$ 20,011 19,015 2,838 HK$ 1,015 672 100 58,359 50,915 7,600 Cash at banks earns interest at floating rates based on daily bank deposit rates. The bank balances and time deposits are deposited with creditworthy banks with no recent history of default. As of December 31, 2021 and June 30, 2022, there were no cash and cash equivalents pledged as security for the Group's liabilities. |
OTHER PAYABLES AND ACCRUALS
OTHER PAYABLES AND ACCRUALS | 6 Months Ended |
Jun. 30, 2022 | |
Other Payables And Accruals | |
OTHER PAYABLES AND ACCRUALS | 16. OTHER PAYABLES AND ACCRUALS Schedule of Other Payables and Accrual December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Financial liabilities Accrued expenses 5,398 5,689 849 Deposits from customers 505 1,335 199 Liabilities related to bills receivable endorsed before maturity — 2,150 320 Total payables 5,903 9,174 1,368 Penalties related to income tax 3,025 3,789 566 Taxes other than income tax payable (a) 285 2,396 358 Accrued payroll 2,878 2,262 338 Others 7 42 6 Total others payables 6,195 8,489 1,268 Total 12,098 17,663 2,636 (a) Taxes other than income taxes payable mainly comprise accruals for value-added tax, city construction tax and education surcharge. |
PROVISIONS
PROVISIONS | 6 Months Ended |
Jun. 30, 2022 | |
Provisions [abstract] | |
PROVISIONS | 17. PROVISIONS A provision has been recognized for expected repair expenditures associated with the wastewater treatment infrastructure of the service concession arrangement which suffered flooding and were partially destroyed in the end of June 2022. Shaoguan Angrui has committed to repair and recover the original production capacity of the infrastructure in the next year. If the repair meets the standards of the customer, Shaoguan Angrui will have a chance to receive partial reimbursement of the repair cost through government subsidies. |
FINANCIAL INSTRUMENTS
FINANCIAL INSTRUMENTS | 6 Months Ended |
Jun. 30, 2022 | |
Financial Instruments | |
FINANCIAL INSTRUMENTS | 18. FINANCIAL INSTRUMENTS (a) Financial assets Set out below is an overview of financial assets, other than cash and short-term deposits, held by the Group as of December 31, 2021 and June 30, 2022: Schedule of financial assets December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Debt instruments at amortized cost: Accounts receivable: current 41,526 43,609 6,510 Accounts receivable: non-current 9,501 8,455 1,262 Financial assets included in other receivables 85,224 87,870 13,116 Financial assets at fair value through other comprehensive income: Bills receivable — 11,700 1,746 Total 136,251 151,634 22,634 Total Current 126,750 143,179 21,372 Total Non-current 9,501 8,455 1,262 (b) Financial liabilities Set out below, is an overview of financial liabilities of the Group as of December 31, 2021 and June 30, 2022: Schedule of financial liabilities December 31, June 30, June 30 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Derivatives not designated as hedging instruments : Derivative financial liabilities (i) 1,710 1,224 183 Financial liabilities at amortized cost: Trade payables 21,118 17,810 2,658 Financial liabilities in other payables and accruals 5,903 9,174 1,368 Dividends payable 5,048 5,048 753 Lease liabilities 2,189 1,646 246 Due to related companies 5,710 5,986 893 Due to the Shareholder 14,050 14,050 2,097 Interest-bearing loans and borrowings 77,000 75,500 11,270 Total 132,728 130,438 19,468 Total current 57,520 56,905 8,491 Total non-current 75,208 73,533 10,977 (i) On January 20, 2021, the Company entered into a securities purchase agreement with certain institutional investors, pursuant to which the Company issued and sold on January 22, 2021, (i) in a registered direct offering, an aggregate of 3,960,000 1.85 1,584,000 2.35 The Company recognized the warrants issued to the investors as derivative financial liabilities (not designated as hedging instruments) with a fair value of CNY 9,246 1,427 1,208 559 83 * As the changes in equity from this private placement transaction are denominated in US$, the amount in US$ is the actual transaction amount and the corresponding amount in CNY was translated from US$ at the applicable exchange rate of the transaction date, January 22, 2021. (c) Fair value Set out below is a comparison, by class, of the carrying amounts and fair values of the Group’s financial instruments, other than those with carrying amounts that are reasonable approximations of fair values: Schedule of Group’s financial instrument carrying amount December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Carrying amount Fair value Carrying amount Fair value Carrying amount Fair value Financial liabilities Interest-bearing loans and borrowings 77,000 79,003 75,500 78,471 11,270 11,713 Total 77,000 79,003 75,500 78,471 11,270 11,713 The following table provides the fair value measurement hierarchy of the Group’s financial assets and financial liabilities as of December 31, 2021 and June 30, 2022: Schedule of fair value instrument As of December 31, 2021 (Audited) Fair value measurement using Quoted prices in active markets (Level 1) Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) Total CNY CNY CNY CNY Recurring fair value measurement: Financial liabilities Derivative financial liabilities — 1,710 — 1,710 As of June 30, 2022 (Unaudited) Fair value measurement using Quoted prices in active markets (Level 1) Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) Total CNY CNY CNY CNY Recurring fair value measurement: Financial assets Bills receivables — 11,700 — 11,700 Financial liabilities Derivative financial liabilities — 1,224 — 1,224 As of June 30, 2022 (Unaudited) Fair value measurement using Quoted prices in active markets (Level 1) Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) Total US$ US$ US$ US$ Recurring fair value measurement: Financial assets Bills receivables — 1,746 — 1,746 Financial liabilities Derivative financial liabilities — 183 — 183 Level 2: Bills receivable The fair value valuation of bills receivable is based on directly or indirectly observable inputs (such as recent bill discount rates) through valuation techniques. The fair value of the bills receivable approximate their book value due to the short-term maturity. Derivative financial liabilities The fair value of financial instruments that are not traded in an active market is determined by using valuation techniques. These valuation techniques maximize the use of relevant observable inputs and minimize the use of unobservable inputs. If all significant inputs required to fair value an instrument are observable, the instrument is included in Level 2. There is no established public trading market for the warrants issued to investors on January 22, 2021. As of June 30, 2022, the Group measured the fair value of those warrants on a recurring basis using a binomial lattice pricing model with significant inputs including the underlying spot price of the Company’s ordinary shares, exercise price, time to expiration, risk-free rate and equity volatility, etc., which are all relevant observable inputs. |
FINANCIAL RISK MANAGEMENT OBJEC
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES | 6 Months Ended |
Jun. 30, 2022 | |
Financial Risk Management Objectives And Policies | |
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES | 19. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES The financial instruments of the Group primarily include cash and cash equivalents, trade and bills receivable, other receivables, contract assets, derivative financial liabilities, trade payables, other payables, dividends payable, amounts due to related companies, amounts due to the Shareholder, lease liabilities and interest-bearing loans and borrowings. The Group is exposed to credit risk, foreign currency risk, business and economic risk and liquidity risk. The Group has not used any derivatives or other instruments for hedging purposes. The Group does not hold or issue derivative financial liabilities for trading purposes. The Group reviews and adopts policies for managing each of these risks and they are summarized below. (a) Credit risk Management has a credit policy in place and the exposures to credit risk are monitored on an ongoing basis. Debts are usually due within 30 to 90 days from the date of billing. Trade receivables of the Group mainly represent receivables in respect of revenue from construction services for wastewater treatment plant construction and sales of wastewater treatment equipment which are settled through progress billing and the operation services of the service concession arrangement which are settled on a quarterly basis. In addition, the Group has contract assets relating to the service concession arrangement and construction services. As of December 31, 2021, and June 30 2022, “Trade and bills receivables” and “Contract assets” in the aggregate amounted to CNY175,569 and CNY189,922, respectively, of which CNY109,737 and CNY114,417 were due from the largest customer and CNY127,415 and CNY136,505 were due from the five largest customers in the aggregate of the Group, respectively. The maximum exposure to credit risk is represented by the carrying amount of each financial asset in the consolidated statements of financial position. Since the counterparty to the BOT arrangement is a local government authority in the PRC which has high credit rating, the Group considers credit risk to be low as of December 31, 2021 and June 30 2022. The Group does not hold any collateral over these balances. Management groups financial instruments based on shared credit risk characteristics, such as instrument type and credit risk ratings for the purpose of determining significant increase in credit risk and calculation of impairment. The carrying amount of each financial asset in the condensed interim consolidated statement of financial position represents the Group’s maximum exposure to credit risk in relation to its financial assets. A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit-impaired includes observable data about the following events: - significant financial difficulty of the debtor; - a breach of contract such as a default or past due event; or - it is probable that the debtor will enter bankruptcy or other financial reorganization. To manage credit risk arising from trade receivables and contract assets, the credit quality of the debtors is assessed, taking into account their financial position, historical settlement records, past experience and other factors. The Group applies the simplified approach to provide for ECLs prescribed by IFRS 9, which permits the use of lifetime expected loss provision for all trade receivables. The ECLs also incorporated forward-looking information. For financial assets assessed for impairment under the general approach, the Group established a policy to perform an assessment at the end of each reporting period of whether a financial instrument’s credit risk has increased significantly since initial recognition, by considering the change in the risk of default occurring over the remaining life of the financial instrument. The Group groups its other receivables into Stage 1, Stage 2 and Stage 3, as described below: Stage 1 – When other receivables are first recognized, the Group recognized an allowance based on 12 months’ ECLs. Stage 2 – When other receivables have shown a significant increase in credit risk since origination, the Group records an allowance for the lifetime ECLs. Stage 3 – Other receivables are considered credit-impaired. The Group records an allowance for the lifetime ECLs. Management also makes periodic collective assessments for other receivables and amounts due from related companies as well as individual assessments of the recoverability of other receivables based on historical settlement records, past experience and other factors. The Group classified other receivables and amounts due from related companies in Stage 1 and continuously monitored their credit risk. Management believes that there is no material credit risk inherent in the Group’s outstanding balance of other receivables as of December 31, 2021 and June 30, 2022. The Group does not provide any guarantees that would expose the Group to credit risk. Further quantitative disclosures in respect of the Group’s exposure to credit risk arising from financial assets are set out in Notes 12, 13, 14 and 22 to the financial statements. Cash and cash equivalents The Group maintains its cash and cash equivalents primarily with various PRC state-owned banks and Hong Kong based financial institutions, which management believes are of high credit quality. The Group performs periodic evaluations of the relative credit standing of those financial institutions. (b) Foreign currency risk Foreign currency risk primarily arises from certain significant foreign currency deposits denominated in US$ and HK$ and related exposures are disclosed in Note 15. The Group Treasury closely monitors the international foreign currency market on the change of exchange rates and takes these into consideration when investing in foreign currency deposits and borrowing loans. CNY is not freely convertible into foreign currencies. The State Administration for Foreign Exchange, under the authority of the People's Bank of China, controls the conversion of CNY into foreign currencies. The value of CNY is subject to changes in PRC government policies and to international economic and political developments affecting the supply and demand in the China Foreign Exchange Trading System market. All foreign exchange transactions continue to take place either through the People's Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People's Bank of China. As of June 30, 2022 the Group only had significant exposure to US$. If CNY had strengthened/ weakened by 5% against US$ with all other variables held constant, the income for the period ended June 30, 2022 would have been approximately CNY951 lower/higher (the loss for the period ended June 30, 2021 would have been CNY1,001 higher/lower), mainly as a result of foreign exchange gains and losses arising from translation of US$-denominated deposits. Profit was less sensitive to the fluctuation in CNY/US$ exchange rates in the period ended June 30, 2022 than in the period ended June 30, 2021, mainly due to the decrease in the US$ denominated cash deposits. (c) Interest rate risk The fair value interest rate risk of the Group mainly arises from long-term loans at fixed rates (see Note 20). As the fluctuation of comparable interest rate (Loan Prime Rate of PRC market) with similar term was relatively low, the Directors are of the opinion that the Group is not exposed to any significant fair value interest rate risk for its fixed interest rate borrowings held as of December 31, 2021 and June 30, 2022. (d) Business and economic risk The Group's operations may be adversely affected by significant political, economic and social uncertainties in the PRC. Although the PRC government has been pursuing economic reform policies for more than 40 years, no assurance can be given that the PRC government will continue to pursue such policies or that such policies may not be significantly altered, especially in the event of a change in leadership, social or political disruption or unforeseen circumstances affecting the political, economic and social conditions in the PRC. There is also no guarantee that the PRC government's pursuit of economic reforms will be consistent or effective. (e) Liquidity risk The Group manages its liquidity risk by regularly monitoring its liquidity requirements and its compliance with debt covenants to ensure that it maintains sufficient cash and cash equivalents, and adequate time deposits to meet its liquidity requirements in the short and long term. The table below summarizes the maturity profile of the Group’s financial liabilities and lease liabilities based on contractual undiscounted payments: Summary of maturity December 31, 2021 (Audited) On demand Less than 1 to 5 years More than Total CNY CNY CNY CNY CNY Derivative financial liabilities 1,710 — — — 1,710 Trade payables — 21,118 — — 21,118 Financial liabilities in other payables and accruals — 5,903 — — 5,903 Dividends payable — 5,048 — — 5,048 Due to related companies — 5,710 — — 5,710 Due to the Shareholder — 14,050 — — 14,050 Lease liabilities — 1,047 1,354 — 2,401 Interest-bearing loans and borrowings — 6,882 28,792 78,139 113,813 Total 1,710 59,758 30,146 78,139 169,753 June 30, 2022 (Unaudited) On demand Less than 1 to 5 years More than Total CNY CNY CNY CNY CNY Derivative financial liabilities 1,224 — — — 1,224 Trade payables — 17,810 — — 17,810 Financial liabilities in other payables and accruals — 9,174 — — 9,174 Dividends payable — 5,048 — — 5,048 Due to related companies — 5,986 — — 5,986 Due to the Shareholder — 14,050 — — 14,050 Lease liabilities — 683 1,123 — 1,806 Interest-bearing loans and borrowings — 6,806 28,908 74,699 110,413 Total 1,224 59,557 30,031 74,699 165,511 June 30, 2022 (Unaudited) On demand Less than 1 to 5 years More than Total USD USD USD USD USD Derivative financial liabilities 183 — — — 183 Trade payables — 2,658 — — 2,658 Financial liabilities in other payables and accruals — 1,368 — — 1,368 Dividends payable — 753 — — 753 Due to related companies — 893 — — 893 Due to the Shareholder — 2,097 — — 2,097 Lease liabilities — 102 168 — 270 Interest-bearing loans and borrowings — 1,016 4,315 11,150 16,481 Total 183 8,887 4,483 11,150 24,703 (f) Capital management The Group monitors capital on the basis of the debt to capital ratio, which is calculated as interest-bearing debt divided by total capitalization. Interest-bearing debt mainly includes lease liabilities and interest-bearing loans and borrowings. Total capitalization includes total equity and interest-bearing debt. The debt to capital ratio was 30.31 29.27 |
INTEREST-BEARING LOANS AND BORR
INTEREST-BEARING LOANS AND BORROWINGS | 6 Months Ended |
Jun. 30, 2022 | |
Interest-bearing Loans And Borrowings | |
INTEREST-BEARING LOANS AND BORROWINGS | 20. INTEREST-BEARING LOANS AND BORROWINGS Schedule of interest bearing loan and borrowings December 31, June 30, 2021 2022 2022 CNY CNY US$ Interest rate Maturity (Audited) (Unaudited) (Unaudited) Non-current interest-bearing loans Bank loan-secured and guaranteed 5.05 % 2023 to 2038 74,000 72,500 10,822 Current interest-bearing loans Bank loan-secured and guaranteed 5.05 % 2022 to 2023 3,000 3,000 448 Total 77,000 75,500 11,270 The bank loan is owed to the Bank of Communications and denominated in CNY. The loan is secured by collection rights, contract assets, intangible assets and trade receivables in connection with the Group's service concession arrangement and 80% equity interest of the Company's subsidiary, Shaoguan Angrui. The loan is also guaranteed by Shanghai Onway Environmental Development Co., Limited (“Shanghai Onway”), the Company’s subsidiary, and Feishang Enterprise Group Co., Ltd. (“Feishang Enterprise”), a related company of the Group. The outstanding balance as of June 30, 2022 is due in annual instalments of CNY1,500 due as of December 31, 2022, CNY3,000 due in 2023; CNY4,000 due annually from 2024 to 2028; CNY5,000 due annually from 2029 to 2034; CNY6,000 due in 2035; and CNY5,000 due annually from 2036 to 2038. |
EQUITY
EQUITY | 6 Months Ended |
Jun. 30, 2022 | |
Equity | |
EQUITY | 21. EQUITY (a) Issued capital Schedule of issued capital December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Authorized: 10,000,000 preferred shares, no par value — — — 200,000,000 common shares, no par value — — — Common shares issued and fully paid: June 30, 2022: 40,948,082, (December 31, 2021: 40,948,082) common shares, no par value 450,782 450,782 67,286 Schedule of share capital Number of shares Share capital CNY US$ (As adjusted) As of January 1, 2021 36,988,082 419,091 62,556 Common shares issued through private placement 3,960,000 31,691 4,730 As of December 31, 2021 and January 1, 2022 40,948,082 450,782 67,286 — — — As of June 30, 2022 40,948,082 450,782 67,286 (b) Other capital reserves Other capital reserves of the Company are mainly for equity-settled share-based compensation, the exercise of stock options, the exercise of warrants, the business combination and the deemed contribution from the Shareholder of the Company and related companies. |
RELATED PARTY BALANCES AND TRAN
RELATED PARTY BALANCES AND TRANSACTIONS | 6 Months Ended |
Jun. 30, 2022 | |
RELATED PARTY BALANCES AND TRANSACTIONS | 22. RELATED PARTY BALANCES AND TRANSACTIONS In addition to the transactions detailed elsewhere in these condensed consolidated financial statements, the Group had the following transactions with related parties during the period. (a) Commercial transactions with related parties Schedule of Commercial Transactions with Related Parties Six months ended June 30, 2021 2022 2022 CNY CNY US$ Notes (As adjusted and unaudited) (Unaudited) (Unaudited) Interest income received from Feishang Enterprise (a) i 3,396 — — CHNR's share of office rental, rates and others to Anka Consultants Limited (“Anka”) (b) ii 205 217 32 Feishang Management's share of office rental to Feishang Enterprise (a) iii 84 84 13 Shenzhen New PST’s share of office rental to Feishang Enterprise (a) iv 45 15 2 (i) The Company’s subsidiary, Shanghai Onway, entered into a series of contracts to provide a loan amounting to CNY80,000 at an interest rate of 9% per annum to Feishang Enterprise from March 2, 2018 to June 30, 2021. (ii) The Company signed a contract with Anka to lease 184 square meters of office premises for two years, from July 1, 2018 to June 30, 2020, subsequently extended to June 30, 2024. The agreement also 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 services provided by Anka. (iii) On January 1, 2018, Feishang Management signed an office-sharing agreement with Feishang Enterprise. Pursuant to the agreement, Feishang Management shares 40 square meters of office premises for 33 months. Feishang Management signed a new contract with Feishang Enterprise in October 2021, which was renewed in October 2022 and will expire on September 30, 2023. (iv) Shenzhen New PST signed a contract with Feishang Enterprise to lease 96 square meters of office premises annually. The latest contract is from March 14, 2022 to March 13, 2023. (a) Feishang Enterprise, Feishang Group and Feishang Energy are controlled by Mr. Li Feilie, who is the controlling shareholder of the Company. (b) Anka is jointly owned by Mr. Wong Wah On Edward and Mr. Tam Cheuk Ho, who are officers of the Company. (b) Balances with related companies The Company’s balances with related companies are unsecured and non-interest bearing. Feishang Enterprise and the Shareholder have provided letters stating their continuous financial support to the Group and that they will not recall any amounts due to them until the Group has sufficient liquidity to finance its operations. The balances are summarized as follows: Schedule of Group Payables with Related Parties December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Current: Payable to related companies: Feishang Enterprise (a, i) 3,019 3,068 457 Anka Capital (b) 2,691 2,818 421 Yangpu Lianzhong Mining Co., Ltd (c, iii) — 100 15 5,710 5,986 893 Payable to the Shareholder: Feishang Group (a, ii) 14,050 14,050 2,097 14,050 14,050 2,097 Dividend payables to related companies: Qianhai Industrial(d, iv) 5,048 5,048 753 5,048 5,048 753 Lease liabilities to related parties Anka (b) 372 — — 372 — — (i) The payable to Feishang Enterprise by Feishang Management represents the net amount of advances from Feishang Enterprise. The balance is unsecured and interest-free. The balance is repayable when the Group is in a position to settle the amounts due without having a detrimental impact on the financial resources of the Group. (ii) The payable to Feishang Group represents the net amount of advances from Feishang Group. The balance is unsecured and interest-free. The balance is repayable when the Group is in a position to settle the amounts due without having a detrimental impact on the financial resources of the Group. (iii) The payable to Yangpu Lianzhong Mining Co., Ltd by Feishang Management represents the net amount of advances from Yangpu Lianzhong Mining Co., Ltd. The balance is unsecured and interest-free. The balance is repayable when the Group is in a position to settle the amounts due without having a detrimental impact on the financial resources of the Group. (iv) The dividend payable to Shenzhen Qianhai Feishang Industrial Investment Co., Ltd. (“Qianhai Industrial”) represents the declared but unpaid dividend that was approved at the shareholder meeting of Shenzhen Qianhai on June 22, 2021, prior to the acquisition of Precise Space-Time Technology Limited (“PST Technology”) and its subsidiaries by the Group. (a) Feishang Enterprise and Feishang Group are controlled by Mr. Li Feilie, who is the controlling shareholder of the Company. (b) Anka Capital and Anka are each jointly owned by Wong Wah On Edward and Tam Cheuk Ho, who are officers of the Company. (c) Yangpu Lianzhong Mining Co., Ltd is controlled by Mr. Li Feilie, who is the controlling shareholder of the Company. (d) Qianhai Industrial is controlled by Mr. Li Feilie, who is the controlling shareholder of the Company. (c) Compensation of key management personnel of the Group Schedule of Compensation of Key Management Personnel of Group Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) Wages, salaries and allowances 661 618 92 Housing subsidies 10 11 2 Contribution to pension plans 41 43 6 Total Compensation of key management personnel 712 672 100 The amounts disclosed in the table are the amounts recognized as expenses during the respective period related to key management personnel. |
COMMITMENTS
COMMITMENTS | 6 Months Ended |
Jun. 30, 2022 | |
Commitments | |
COMMITMENTS | 23. COMMITMENTS There were no |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2022 | |
Subsequent Events | |
SUBSEQUENT EVENTS | 24. SUBSEQUENT EVENTS On July 14, 2022, the Board of Directors of the Company approved grants of option awards covering an aggregate of 8,100,000 3,700,000 3,000,000 40,000 200,000 The granted options vested immediately upon granting and 0.623 As a result of the grant, the exercise price for the Company’s outstanding warrants to purchase up to an aggregate of 1,980,000 0.623 |
APPROVAL OF THE INTERIM FINANCI
APPROVAL OF THE INTERIM FINANCIAL STATEMENTS | 6 Months Ended |
Jun. 30, 2022 | |
Approval Of Interim Financial Statements | |
APPROVAL OF THE INTERIM FINANCIAL STATEMENTS | 25. APPROVAL OF THE INTERIM FINANCIAL STATEMENTS These interim condensed consolidated financial statements were approved by the Board of Directors on November 4, 2022. |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Segment Information | |
Schedule of Segment Results | Schedule of Segment Results Wastewater treatment Exploration and mining Corporate activities Total CNY CNY CNY CNY Six months ended June 30, 2021 (As adjusted and unaudited) Revenues from external customers 8,220 — — 8,220 Segment profit/(loss) before income tax 179 (333 ) (30,314 ) (30,468 ) Income tax benefit 633 Loss for the period (29,835 ) Other items Depreciation of property, plant and equipment (124 ) (31 ) (2 ) (157 ) Depreciation of right of use assets (321 ) — (360 ) (681 ) Amortization of intangible assets (441 ) — — (441 ) Impairment (losses)/reversal on financial assets - Trade receivables (1,920 ) — — (1,920 ) - Contract assets (179 ) — — (179 ) - Amounts due from related companies 775 — 331 1,106 Fair value loss on financial instruments, net — — (24,807 ) (24,807 ) Other income 76 300 — 376 Finance costs (2,142 ) — (129 ) (2,271 ) Finance income 8,782 — 5 8,787 For the six months ended June 30, 2022, the segment results were as follows: Wastewater treatment Exploration and mining Corporate activities Total CNY CNY CNY CNY Six months ended June 30, 2022 (Unaudited) Revenues from external customers 16,072 — — 16,072 Segment profit before income tax 3,784 245 1 4,030 Income tax expenses (357 ) Profit for the period 3,673 Other items Depreciation of property, plant and equipment (114 ) (26 ) (1 ) (141 ) Depreciation of right of use assets (347 ) — (360 ) (707 ) Amortization of intangible assets (404 ) — — (404 ) Impairment (losses)/reversal on financial assets - Trade receivables (1,936 ) — — (1,936 ) - Contract assets 41 — — 41 - Other receivables — — (1,077 ) (1,077 ) Other income 30 700 1 731 Fair value gain on financial instruments — — 559 559 Finance costs (1,799 ) (1 ) (22 ) (1,822 ) Finance income 7,857 — 1,519 9,376 For the six months ended June 30, 2022, the segment results were as follows (continued): Wastewater treatment Exploration and mining Corporate activities Total US$ US$ US$ US$ Six months ended June 30, 2022 (Unaudited) Revenues from external customers 2,401 — — 2,401 Segment profit before income tax 566 37 — 603 Income tax expenses (53 ) Profit for the period 550 Other items Depreciation of property, plant and equipment (17 ) (4 ) — (21 ) Depreciation of right of use assets (52 ) — (54 ) (106 ) Amortization of intangible assets (60 ) — — (60 ) Impairment (losses)/reversal on financial assets - Trade receivables (289 ) — — (289 ) - Contract assets 6 — — 6 - Other receivables — — (161 ) (161 ) Other income 4 105 — 109 Fair value gain on financial instruments — — 83 83 Finance costs (269 ) — (3 ) (272 ) Finance income 1,398 — 2 1,400 |
Schedule of operating segment | Schedule of operating segment Wastewater treatment Exploration and mining Corporate activities Total CNY CNY CNY CNY As of December 31, 2021 (Audited) Segment assets 390,895 321 22,166 413,382 Reconciliation: Elimination of inter-segment receivables (80,000 ) Unallocated assets: Deferred tax assets 66 Total assets 333,448 Segment liabilities 113,124 3,294 103,195 219,613 Reconciliation: Elimination of inter-segment payables (80,000 ) Unallocated liabilities: Deferred tax liabilities 2,544 Income tax payable 9,254 Total liabilities 151,411 Wastewater treatment Exploration and mining Corporate activities Total CNY CNY CNY CNY As of June 30, 2022 (Unaudited) Segment assets 398,064 573 19,561 418,198 Reconciliation: Elimination of inter-segment receivables (80,000 ) Unallocated assets: Deferred tax assets 537 Total assets 338,735 Segment liabilities 115,995 3,301 101,129 220,425 Reconciliation: Elimination of inter-segment payables (80,000 ) Unallocated liabilities: Deferred tax liabilities 1,824 Income tax payable 10,031 Total liabilities 152,280 The following table presents the asset and liability information of the Group’s operating segments as of December 31, 2021 and June 30, 2022(continued): Wastewater treatment Exploration and mining Corporate activities Total US$ US$ US$ US$ As of June 30, 2022 (Unaudited) Segment assets 59,416 86 2,920 62,422 Reconciliation: Elimination of inter-segment receivables (11,941 ) Unallocated assets: Deferred tax assets 80 Total assets 50,561 Segment liabilities 17,314 493 15,096 32,903 Reconciliation: Elimination of inter-segment payables (11,942 ) Unallocated liabilities: Deferred tax liabilities 272 Income tax payable 1,497 Total liabilities 22,730 |
REVENUE FROM CONTRACT WITH CU_2
REVENUE FROM CONTRACT WITH CUSTOMERS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Revenue From Contract With Customers | |
Schedule of Disaggregated Revenue Information | Schedule of Disaggregated Revenue Information Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) Type of goods or services Construction contract revenue 4,601 12,639 1,889 Operation services of service concession arrangement 3,223 3,433 512 Construction services of service concession arrangement 396 — — Total revenue from contracts with customers 8,220 16,072 2,401 Geographic market Mainland China 8,220 16,072 2,401 Timing of revenue recognition Over time 8,220 16,072 2,401 Total revenue from contracts with customers 8,220 16,072 2,401 |
FINANCE INCOME AND COSTS (Table
FINANCE INCOME AND COSTS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Finance Income And Costs | |
Schedule of finance income and cost | Schedule of finance income and cost Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) Finance income Interest income on loans to a related party/ third party 3,396 3,396 507 Interest income on revenue contracts with significant financing component 1,132 2,547 380 Interest income from service concession arrangement 3,988 3,389 506 Interest income on structured deposits 219 — — Interest income on bank deposit 52 44 7 8,787 9,376 1,400 Finance costs Interest expenses on loans 2,032 1,954 292 Interest expense on lease liabilities 86 53 8 Other finance costs 210 (185 ) (28 ) Less: interest expense capitalized into intangible assets-concession right* (57 ) — — 2,271 1,822 272 |
(LOSS)_PROFIT BEFORE INCOME T_2
(LOSS)/PROFIT BEFORE INCOME TAX (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Lossprofit Before Income Tax | |
Schedule of Group's Loss Before Income Tax | Schedule of Group's Loss Before Income Tax Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) Crediting: Finance income (Note 5) (8,787 ) (9,376 ) (1,400 ) Charging: Cost of sales - Construction service 3,916 5,107 762 - Operation services related to service concession arrangement 2,804 3,664 547 - Construction services related to service concession arrangement 389 — — Total 7,109 8,771 1,309 Depreciation - Property, plant and equipment 157 141 21 - Right-of-use assets (Note 11) 681 707 106 Amortization of intangible assets* (Note 10) 441 404 60 Expense relating to short-term leases 338 174 26 Impairment losses/(reversal) on financial assets: - Trade receivables 1,920 1,936 289 - Contract assets 179 (41 ) (6 ) - Other receivables — 1,077 161 - Amounts due from related companies (1,106 ) — — Fair value (gain)/loss on financial instruments: - Financial assets at fair value through profit or loss (Note 18(a)) 26,015 — — - Derivative financial liabilities (Note 18(b)) (1,208 ) (559 ) (83 ) Issuance expense in related to placement 1,579 — — Other income (376 ) (731 ) (109 ) Finance costs (Note 5) 2,271 1,822 272 Employee benefit expenses * 5,751 5,772 861 |
INCOME TAX (BENEFIT)_EXPENSE (T
INCOME TAX (BENEFIT)/EXPENSE (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Income Tax Benefitexpense | |
Schedule of deferred component of income tax expenses | Schedule of deferred component of income tax expenses Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) Current income tax expense 685 1,548 231 Deferred income tax benefit (1,318 ) (1,191 ) (178 ) Total (633 ) 357 53 |
(LOSS)_EARNINGS PER SHARE (Tabl
(LOSS)/EARNINGS PER SHARE (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Schedule of Basic and Diluted Loss Earnings Per Share | Schedule of Basic and Diluted Loss Earnings Per Share Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) (Loss)/Earnings: (Loss)/Earnings attributable to ordinary equity holders of the Company (27,993 ) 1,949 293 Number of Shares: Weighted average number of common shares for basic and diluted loss per share: Basic and diluted 40,488,634 40,948,082 40,948,082 (Loss)/Earnings per share: Basic and diluted (0.69 ) 0.05 0.01 |
PROPERTY, PLANT AND EQUIPMENT (
PROPERTY, PLANT AND EQUIPMENT (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Property, plant and equipment [abstract] | |
Schedule of Property Plant and Equipment | Schedule of Property Plant and Equipment December 31, June 30, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) At cost: Buildings 46 46 7 Machinery and equipment 1,177 1,084 162 Motor vehicles 2,486 2,486 371 Office and other equipment 728 734 110 4,437 4,350 650 Accumulated depreciation and amortization (3,722 ) (3,772 ) (564 ) Net book value 715 578 86 |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Intangible Assets | |
Schedule of intangible assets | Schedule of intangible assets Patent Concession Right Software Total CNY CNY CNY CNY Cost As of January 1, 2021 (As adjusted) 22,878 — 274 23,152 Transfer in — 20,430 — 20,430 As of December 31, 2021 22,878 20,430 274 43,582 Accumulated amortization and impairment As of January 1, 2021 (As adjusted) (22,388 ) — (121 ) (22,509 ) Amortization charge (105 ) (730 ) (49 ) (884 ) As of December 31, 2021 (22,493 ) (730 ) (170 ) (23,393 ) Net carrying amount As of December 31, 2021 385 19,700 104 20,189 Cost As of January 1, 2022 and June 30, 2022 22,878 20,430 274 43,582 Accumulated amortization and impairment losses As of January 1, 2022 (22,493 ) (730 ) (170 ) (23,393 ) Amortization charge (19 ) (365 ) (20 ) (404 ) As of June 30, 2022 (22,512 ) (1,095 ) (190 ) (23,797 ) Net carrying amount As of June 30, 2022 366 19,335 84 19,785 As of June 30, 2022 (US$) 55 2,886 12 2,953 |
LEASES (Tables)
LEASES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Schedule of right of use assets | Schedule of right of use assets Motor Vehicles Offices and warehouse Total CNY CNY CNY As of January 1, 2021 408 3,152 3,560 Addition — 157 157 Depreciation charge (163 ) (1,203 ) (1,366 ) As of December 31, 2021 245 2,106 2,351 As of January 1, 2022 245 2,106 2,351 Depreciation charge (82 ) (625 ) (707 ) As of June 30, 2022 163 1,481 1,644 As of June 30, 2022 (US$) 24 221 245 |
Schedule of lease liabilities | Schedule of lease liabilities Motor Vehicles Offices and Warehouse Total CNY CNY CNY As of January 1, 2021 502 3,048 3,550 Addition — 102 102 Accretion of interest recognized during the period 17 133 150 Payments (364 ) (1,249 ) (1,613 ) As of December 31, 2021 155 2,034 2,189 Analyzed into: Current portion 155 826 981 Non-current portion — 1,208 1,208 As of January 1, 2022 155 2,034 2,189 Accretion of interest recognized during the period 4 49 53 Payments — (596 ) (596 ) As of June 30, 2022 159 1,487 1,646 Analyzed into: Current portion 159 454 613 Non-current portion — 1,033 1,033 As of June 30, 2022 (US$) 24 222 246 Current portion (US$) 24 67 91 Non-current portion (US$) — 155 155 |
Schedule of lease related expenses | Schedule of lease related expenses Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) Depreciation expense of right-of-use assets 681 707 106 Interest on lease liabilities 86 53 8 Expense relating to short-term leases 338 174 26 Total amounts recognized in profit or loss 1,105 934 140 |
TRADE AND BILLS RECEIVABLE (Tab
TRADE AND BILLS RECEIVABLE (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Trade And Bills Receivable | |
Schedule of Trade Receivables | Schedule of Trade Receivables December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Non-current Trade receivables from third parties 17,033 16,815 2,510 Less: Impairment allowance (7,532 ) (8,360 ) (1,248 ) Total of Non-current trade receivables 9,501 8,455 1,262 Current Trade receivables from third parties 51,608 54,799 8,180 Less: Impairment allowance (10,082 ) (11,190 ) (1,670 ) Total of current trade receivables 41,526 43,609 6,510 Bills receivable At fair value through other comprehensive income — 11,700 1,746 Total 51,027 63,764 9,518 |
Schedule of Aging Analysis of Trade Payables | Schedule of Aging Analysis of Trade Payables December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Within 1 year 19,026 40,398 6,031 Between 1-2 years 5,106 3,740 558 Between 2-3 years 12,796 10,835 1,617 Over 3 years 14,099 8,791 1,312 Total 51,027 63,764 9,518 |
Schedule of loss allowance for trade receivables | Schedule of loss allowance for trade receivables Year Ended December 31, Six Months Ended June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Beginning of the year/period 13,774 17,614 2,629 Provision for expected credit losses (“ECLs”) 3,840 1,936 289 End of the year/period 17,614 19,550 2,918 |
Schedule of impairment | Schedule of impairment Past due Current within 1 years 1-2 years 2-3 years over 3 years Total As of December 31, 2021: Expected credit loss rate 6 % 26 % 13 % 48 % 26 % Gross carrying amount (CNY) 3,670 16,311 6,865 14,712 27,083 68,641 Impairment allowances (CNY) 955 1,759 1,916 (i) 12,984 (ii) 17,614 As of June 30, 2022: Expected credit loss rate 10 % 10 % 10 % 60 % 20 % Gross carrying amount (CNY) 331 42,479 4,186 12,412 23,906 83,314 Impairment allowances (CNY) 2,412 446 1,577 (i) 15,115 (ii) 19,550 Impairment allowances (US$) 360 67 235 2,256 2,918 (i) The impairment allowances included CNY221 and CNY211 as of December 31, 2021 and June 30, 2022, respectively, for specific trade receivables which were considered to be in default due to conditions which indicated that the Group was unlikely to receive the outstanding contractual amounts in full. (ii) The impairment allowances included an amount of CNY4,646 and CNY4,588 as of December 31, 2021 and June 30, 2022, respectively, for specific trade receivables which were considered to be in default due to conditions which indicated that the Group was unlikely to receive the outstanding contractual amounts in full. |
CONTRACT ASSETS (Tables)
CONTRACT ASSETS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Contract assets [abstract] | |
Schedule of contract assets | Schedule of contract assets December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Non-current Service concession assets (a) 91,062 90,480 13,505 Less: impairment allowance (27 ) (27 ) (4 ) 91,035 90,453 13,501 Current Service concession assets (a) 7,423 7,422 1,108 Other contract assets (b) 8,443 8,706 1,299 Less: impairment allowance (535 ) (576 ) (86 ) 15,331 15,552 2,321 Total 106,366 106,005 15,822 |
Schedule of provision for impairment of contract assets | Schedule of provision for impairment of contract assets Year Ended December 31, Six Months Ended June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Beginning of the year/period 205 562 84 Provision for expected credit loss, net 357 41 6 End of the year/period 562 603 90 |
OTHER RECEIVABLES (Tables)
OTHER RECEIVABLES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Other Receivables | |
Schedule of other receivables | Schedule of other receivables December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Financial assets Loans to an unrelated company (i) 83,600 87,200 13,016 Deposits 863 986 147 Others 1,000 1,000 149 Financial assets 85,463 89,186 13,312 Staff advance 697 750 112 Others 280 284 42 Total amount 977 1,034 154 Impairment allowance (239 ) (1,316 ) (196 ) Total 86,201 88,904 13,270 (i) The balance as of June 30, 2022 consisted of the loan from Shenzhen Qianhai Feishang Environmental Investment Co., Limited (“Shenzhen Qianhai”), a subsidiary of the Company, to an unrelated company, Shenzhen Chaopeng Investment Co., Ltd., amounting to CNY80,000, and its corresponding interest receivable amounting to CNY7,200. The loan, with a maturity date of June 30, 2023, is interest bearing at a rate of 9% per annum and guaranteed by Shenzhen Feishang Investment Co., Limited, a company unrelated to the Group. |
CASH AND CASH EQUIVALENTS (Tabl
CASH AND CASH EQUIVALENTS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Cash and cash equivalents [abstract] | |
Schedule of cash and cash equivalents | Schedule of cash and cash equivalents December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Cash and cash equivalents - Cash on hand 74 70 11 - Cash at bank 58,285 50,845 7,589 Cash and cash equivalents 58,359 50,915 7,600 |
Schedule of Group’s cash and cash equivalents | Schedule of Group’s cash and cash equivalents December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) CNY 37,333 31,228 4,662 US$ 20,011 19,015 2,838 HK$ 1,015 672 100 58,359 50,915 7,600 |
OTHER PAYABLES AND ACCRUALS (Ta
OTHER PAYABLES AND ACCRUALS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Other Payables And Accruals | |
Schedule of Other Payables and Accrual | Schedule of Other Payables and Accrual December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Financial liabilities Accrued expenses 5,398 5,689 849 Deposits from customers 505 1,335 199 Liabilities related to bills receivable endorsed before maturity — 2,150 320 Total payables 5,903 9,174 1,368 Penalties related to income tax 3,025 3,789 566 Taxes other than income tax payable (a) 285 2,396 358 Accrued payroll 2,878 2,262 338 Others 7 42 6 Total others payables 6,195 8,489 1,268 Total 12,098 17,663 2,636 (a) Taxes other than income taxes payable mainly comprise accruals for value-added tax, city construction tax and education surcharge. |
FINANCIAL INSTRUMENTS (Tables)
FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Financial Instruments | |
Schedule of financial assets | Schedule of financial assets December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Debt instruments at amortized cost: Accounts receivable: current 41,526 43,609 6,510 Accounts receivable: non-current 9,501 8,455 1,262 Financial assets included in other receivables 85,224 87,870 13,116 Financial assets at fair value through other comprehensive income: Bills receivable — 11,700 1,746 Total 136,251 151,634 22,634 Total Current 126,750 143,179 21,372 Total Non-current 9,501 8,455 1,262 |
Schedule of financial liabilities | Schedule of financial liabilities December 31, June 30, June 30 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Derivatives not designated as hedging instruments : Derivative financial liabilities (i) 1,710 1,224 183 Financial liabilities at amortized cost: Trade payables 21,118 17,810 2,658 Financial liabilities in other payables and accruals 5,903 9,174 1,368 Dividends payable 5,048 5,048 753 Lease liabilities 2,189 1,646 246 Due to related companies 5,710 5,986 893 Due to the Shareholder 14,050 14,050 2,097 Interest-bearing loans and borrowings 77,000 75,500 11,270 Total 132,728 130,438 19,468 Total current 57,520 56,905 8,491 Total non-current 75,208 73,533 10,977 |
Schedule of Group’s financial instrument carrying amount | Schedule of Group’s financial instrument carrying amount December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Carrying amount Fair value Carrying amount Fair value Carrying amount Fair value Financial liabilities Interest-bearing loans and borrowings 77,000 79,003 75,500 78,471 11,270 11,713 Total 77,000 79,003 75,500 78,471 11,270 11,713 |
Schedule of fair value instrument | Schedule of fair value instrument As of December 31, 2021 (Audited) Fair value measurement using Quoted prices in active markets (Level 1) Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) Total CNY CNY CNY CNY Recurring fair value measurement: Financial liabilities Derivative financial liabilities — 1,710 — 1,710 As of June 30, 2022 (Unaudited) Fair value measurement using Quoted prices in active markets (Level 1) Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) Total CNY CNY CNY CNY Recurring fair value measurement: Financial assets Bills receivables — 11,700 — 11,700 Financial liabilities Derivative financial liabilities — 1,224 — 1,224 As of June 30, 2022 (Unaudited) Fair value measurement using Quoted prices in active markets (Level 1) Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) Total US$ US$ US$ US$ Recurring fair value measurement: Financial assets Bills receivables — 1,746 — 1,746 Financial liabilities Derivative financial liabilities — 183 — 183 |
FINANCIAL RISK MANAGEMENT OBJ_2
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Financial Risk Management Objectives And Policies | |
Summary of maturity | Summary of maturity December 31, 2021 (Audited) On demand Less than 1 to 5 years More than Total CNY CNY CNY CNY CNY Derivative financial liabilities 1,710 — — — 1,710 Trade payables — 21,118 — — 21,118 Financial liabilities in other payables and accruals — 5,903 — — 5,903 Dividends payable — 5,048 — — 5,048 Due to related companies — 5,710 — — 5,710 Due to the Shareholder — 14,050 — — 14,050 Lease liabilities — 1,047 1,354 — 2,401 Interest-bearing loans and borrowings — 6,882 28,792 78,139 113,813 Total 1,710 59,758 30,146 78,139 169,753 June 30, 2022 (Unaudited) On demand Less than 1 to 5 years More than Total CNY CNY CNY CNY CNY Derivative financial liabilities 1,224 — — — 1,224 Trade payables — 17,810 — — 17,810 Financial liabilities in other payables and accruals — 9,174 — — 9,174 Dividends payable — 5,048 — — 5,048 Due to related companies — 5,986 — — 5,986 Due to the Shareholder — 14,050 — — 14,050 Lease liabilities — 683 1,123 — 1,806 Interest-bearing loans and borrowings — 6,806 28,908 74,699 110,413 Total 1,224 59,557 30,031 74,699 165,511 June 30, 2022 (Unaudited) On demand Less than 1 to 5 years More than Total USD USD USD USD USD Derivative financial liabilities 183 — — — 183 Trade payables — 2,658 — — 2,658 Financial liabilities in other payables and accruals — 1,368 — — 1,368 Dividends payable — 753 — — 753 Due to related companies — 893 — — 893 Due to the Shareholder — 2,097 — — 2,097 Lease liabilities — 102 168 — 270 Interest-bearing loans and borrowings — 1,016 4,315 11,150 16,481 Total 183 8,887 4,483 11,150 24,703 |
INTEREST-BEARING LOANS AND BO_2
INTEREST-BEARING LOANS AND BORROWINGS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Interest-bearing Loans And Borrowings | |
Schedule of interest bearing loan and borrowings | Schedule of interest bearing loan and borrowings December 31, June 30, 2021 2022 2022 CNY CNY US$ Interest rate Maturity (Audited) (Unaudited) (Unaudited) Non-current interest-bearing loans Bank loan-secured and guaranteed 5.05 % 2023 to 2038 74,000 72,500 10,822 Current interest-bearing loans Bank loan-secured and guaranteed 5.05 % 2022 to 2023 3,000 3,000 448 Total 77,000 75,500 11,270 |
EQUITY (Tables)
EQUITY (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Equity | |
Schedule of issued capital | Schedule of issued capital December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Authorized: 10,000,000 preferred shares, no par value — — — 200,000,000 common shares, no par value — — — Common shares issued and fully paid: June 30, 2022: 40,948,082, (December 31, 2021: 40,948,082) common shares, no par value 450,782 450,782 67,286 |
Schedule of share capital | Schedule of share capital Number of shares Share capital CNY US$ (As adjusted) As of January 1, 2021 36,988,082 419,091 62,556 Common shares issued through private placement 3,960,000 31,691 4,730 As of December 31, 2021 and January 1, 2022 40,948,082 450,782 67,286 — — — As of June 30, 2022 40,948,082 450,782 67,286 |
RELATED PARTY BALANCES AND TR_2
RELATED PARTY BALANCES AND TRANSACTIONS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Schedule of Commercial Transactions with Related Parties | Schedule of Commercial Transactions with Related Parties Six months ended June 30, 2021 2022 2022 CNY CNY US$ Notes (As adjusted and unaudited) (Unaudited) (Unaudited) Interest income received from Feishang Enterprise (a) i 3,396 — — CHNR's share of office rental, rates and others to Anka Consultants Limited (“Anka”) (b) ii 205 217 32 Feishang Management's share of office rental to Feishang Enterprise (a) iii 84 84 13 Shenzhen New PST’s share of office rental to Feishang Enterprise (a) iv 45 15 2 (i) The Company’s subsidiary, Shanghai Onway, entered into a series of contracts to provide a loan amounting to CNY80,000 at an interest rate of 9% per annum to Feishang Enterprise from March 2, 2018 to June 30, 2021. (ii) The Company signed a contract with Anka to lease 184 square meters of office premises for two years, from July 1, 2018 to June 30, 2020, subsequently extended to June 30, 2024. The agreement also 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 services provided by Anka. (iii) On January 1, 2018, Feishang Management signed an office-sharing agreement with Feishang Enterprise. Pursuant to the agreement, Feishang Management shares 40 square meters of office premises for 33 months. Feishang Management signed a new contract with Feishang Enterprise in October 2021, which was renewed in October 2022 and will expire on September 30, 2023. (iv) Shenzhen New PST signed a contract with Feishang Enterprise to lease 96 square meters of office premises annually. The latest contract is from March 14, 2022 to March 13, 2023. (a) Feishang Enterprise, Feishang Group and Feishang Energy are controlled by Mr. Li Feilie, who is the controlling shareholder of the Company. (b) Anka is jointly owned by Mr. Wong Wah On Edward and Mr. Tam Cheuk Ho, who are officers of the Company. |
Schedule of Group Payables with Related Parties | Schedule of Group Payables with Related Parties December 31, June 30, 2021 2022 2022 CNY CNY US$ (Audited) (Unaudited) (Unaudited) Current: Payable to related companies: Feishang Enterprise (a, i) 3,019 3,068 457 Anka Capital (b) 2,691 2,818 421 Yangpu Lianzhong Mining Co., Ltd (c, iii) — 100 15 5,710 5,986 893 Payable to the Shareholder: Feishang Group (a, ii) 14,050 14,050 2,097 14,050 14,050 2,097 Dividend payables to related companies: Qianhai Industrial(d, iv) 5,048 5,048 753 5,048 5,048 753 Lease liabilities to related parties Anka (b) 372 — — 372 — — (i) The payable to Feishang Enterprise by Feishang Management represents the net amount of advances from Feishang Enterprise. The balance is unsecured and interest-free. The balance is repayable when the Group is in a position to settle the amounts due without having a detrimental impact on the financial resources of the Group. (ii) The payable to Feishang Group represents the net amount of advances from Feishang Group. The balance is unsecured and interest-free. The balance is repayable when the Group is in a position to settle the amounts due without having a detrimental impact on the financial resources of the Group. (iii) The payable to Yangpu Lianzhong Mining Co., Ltd by Feishang Management represents the net amount of advances from Yangpu Lianzhong Mining Co., Ltd. The balance is unsecured and interest-free. The balance is repayable when the Group is in a position to settle the amounts due without having a detrimental impact on the financial resources of the Group. (iv) The dividend payable to Shenzhen Qianhai Feishang Industrial Investment Co., Ltd. (“Qianhai Industrial”) represents the declared but unpaid dividend that was approved at the shareholder meeting of Shenzhen Qianhai on June 22, 2021, prior to the acquisition of Precise Space-Time Technology Limited (“PST Technology”) and its subsidiaries by the Group. (a) Feishang Enterprise and Feishang Group are controlled by Mr. Li Feilie, who is the controlling shareholder of the Company. (b) Anka Capital and Anka are each jointly owned by Wong Wah On Edward and Tam Cheuk Ho, who are officers of the Company. (c) Yangpu Lianzhong Mining Co., Ltd is controlled by Mr. Li Feilie, who is the controlling shareholder of the Company. (d) Qianhai Industrial is controlled by Mr. Li Feilie, who is the controlling shareholder of the Company. |
Schedule of Compensation of Key Management Personnel of Group | Schedule of Compensation of Key Management Personnel of Group Six months ended June 30, 2021 2022 2022 CNY CNY US$ (As adjusted and unaudited) (Unaudited) (Unaudited) Wages, salaries and allowances 661 618 92 Housing subsidies 10 11 2 Contribution to pension plans 41 43 6 Total Compensation of key management personnel 712 672 100 |
BASIS OF PRESENTATION (Details
BASIS OF PRESENTATION (Details Narrative) | 6 Months Ended |
Jun. 30, 2021 | |
Basis Of Presentation | |
Translated exchange ate description | US$1.00 = CNY6.6995 |
SEGMENT INFORMATION (Schedule o
SEGMENT INFORMATION (Schedule of Segment Results) (Details) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2021 CNY (¥) | |
IfrsStatementLineItems [Line Items] | |||
Revenues from external customers | $ 2,401 | ¥ 16,072 | ¥ 8,220 |
Segment profit/(loss) before income tax | 603 | 4,030 | (30,468) |
Income tax benefit (loss)/benefit | (53) | (357) | 633 |
Profit/(Loss) for the period | 550 | 3,673 | (29,835) |
Depreciation of property, plant and equipment | (21) | (141) | (157) |
Depreciation of right-of-use assets | (106) | (707) | (681) |
Amortization of intangible assets | (60) | (404) | (441) |
Other income | 109 | 731 | 376 |
Finance costs | (272) | (1,822) | (2,271) |
Finance income | 1,400 | 9,376 | 8,787 |
Trade receivables [member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | (289) | (1,936) | (1,920) |
Contract assets [member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | 6 | 41 | (179) |
Amounts Due From Related Companies [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | 1,106 | ||
Fair value loss on financial instruments, net | 83 | 559 | (24,807) |
Other Receivable [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | (161) | (1,077) | |
Wastewater Treatment [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Revenues from external customers | 2,401 | 16,072 | 8,220 |
Segment profit/(loss) before income tax | 566 | 3,784 | 179 |
Depreciation of property, plant and equipment | (17) | (114) | (124) |
Depreciation of right-of-use assets | (52) | (347) | (321) |
Amortization of intangible assets | (60) | (404) | (441) |
Other income | 4 | 30 | 76 |
Finance costs | (269) | (1,799) | (2,142) |
Finance income | 1,398 | 7,857 | 8,782 |
Wastewater Treatment [Member] | Trade receivables [member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | (289) | (1,936) | (1,920) |
Wastewater Treatment [Member] | Contract assets [member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | 6 | 41 | (179) |
Wastewater Treatment [Member] | Amounts Due From Related Companies [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | 775 | ||
Fair value loss on financial instruments, net | |||
Wastewater Treatment [Member] | Other Receivable [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | |||
Corporate Activity [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Revenues from external customers | |||
Segment profit/(loss) before income tax | 1 | (30,314) | |
Depreciation of property, plant and equipment | (1) | (2) | |
Depreciation of right-of-use assets | (54) | (360) | (360) |
Amortization of intangible assets | |||
Other income | 1 | ||
Finance costs | (3) | (22) | (129) |
Finance income | 2 | 1,519 | 5 |
Corporate Activity [Member] | Trade receivables [member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | |||
Corporate Activity [Member] | Contract assets [member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | |||
Corporate Activity [Member] | Amounts Due From Related Companies [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | 331 | ||
Fair value loss on financial instruments, net | 83 | 559 | (24,807) |
Corporate Activity [Member] | Other Receivable [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | (161) | (1,077) | |
Exploration and Mining [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Segment profit/(loss) before income tax | 37 | 245 | (333) |
Depreciation of property, plant and equipment | (4) | (26) | (31) |
Depreciation of right-of-use assets | |||
Amortization of intangible assets | |||
Other income | 105 | 700 | 300 |
Finance costs | (1) | ||
Finance income | |||
Exploration and Mining [Member] | Trade receivables [member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | |||
Exploration and Mining [Member] | Contract assets [member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | |||
Exploration and Mining [Member] | Amounts Due From Related Companies [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets | |||
Fair value loss on financial instruments, net | |||
Exploration and Mining [Member] | Other Receivable [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Impairment (losses)/reversal on financial assets |
SEGMENT INFORMATION (Schedule_2
SEGMENT INFORMATION (Schedule of Operating Segment) (Details 1) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
IfrsStatementLineItems [Line Items] | |||
Segment assets | $ 62,422 | ¥ 418,198 | ¥ 413,382 |
Elimination of inter-segment receivables | (11,941) | (80,000) | (80,000) |
Deferred tax assets | 80 | 537 | 66 |
Total assets | 50,561 | 338,735 | 333,448 |
Segment Liabilities | 32,903 | 220,425 | 219,613 |
Elimination of inter-segment payables | (11,942) | (80,000) | (80,000) |
Deferred tax liabilities | 272 | 1,824 | 2,544 |
Income tax payable | 1,497 | 10,031 | 9,254 |
Total liabilities | 22,730 | 152,280 | 151,411 |
Deferred tax assets | 80 | ||
Deferred tax liabilities | 272 | ||
Income tax payable | 1,497 | ||
Total liabilities | 22,730 | ||
Wastewater Treatment [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Segment assets | 59,416 | 398,064 | 390,895 |
Segment Liabilities | 17,314 | 115,995 | 113,124 |
Exploration and Mining [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Segment assets | 86 | 573 | 321 |
Segment Liabilities | 493 | 3,301 | 3,294 |
Corporate Activity [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Segment assets | 2,920 | 19,561 | 22,166 |
Segment Liabilities | $ 15,096 | ¥ 101,129 | ¥ 103,195 |
REVENUE FROM CONTRACT WITH CU_3
REVENUE FROM CONTRACT WITH CUSTOMERS (Schedule of Disaggregated revenue information) (Details) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2021 CNY (¥) | |
IfrsStatementLineItems [Line Items] | |||
Revenue from contracts with a customer | $ 2,401 | ¥ 16,072 | ¥ 8,220 |
Mainland China [Member] | Geographic market [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Revenue from contracts with a customer | 2,401 | 16,072 | 8,220 |
Type Of Goods Or Services [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Revenue from contracts with a customer | 2,401 | 8,220 | |
Type Of Goods Or Services [Member] | Construction Contract Revenue [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Revenue from contracts with a customer | 1,889 | 4,601 | |
Type Of Goods Or Services [Member] | Operation Service Concession Arrangements [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Revenue from contracts with a customer | 512 | 3,223 | |
Type Of Goods Or Services [Member] | Construction Service Concession Arrangements [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Revenue from contracts with a customer | 396 | ||
Type Of Goods Or Service [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Revenue from contracts with a customer | 16,072 | ||
Type Of Goods Or Service [Member] | Construction Contract Revenue [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Revenue from contracts with a customer | 12,639 | ||
Type Of Goods Or Service [Member] | Operation Service Concession Arrangements [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Revenue from contracts with a customer | 3,433 | ||
Type Of Goods Or Service [Member] | Construction Service Concession Arrangements [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Revenue from contracts with a customer | |||
Timing Of Revenue Recognition [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Revenue from contracts with a customer | 2,401 | 16,072 | 8,220 |
Timing Of Revenue Recognition [Member] | Goods or services transferred over time [member] | |||
IfrsStatementLineItems [Line Items] | |||
Revenue from contracts with a customer | $ 2,401 | ¥ 16,072 | ¥ 8,220 |
FINANCE INCOME AND COSTS (Detai
FINANCE INCOME AND COSTS (Details) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2021 CNY (¥) | |
IfrsStatementLineItems [Line Items] | |||
Finance income | $ 1,400 | ¥ 9,376 | ¥ 8,787 |
Finance costs | 272 | 1,822 | 2,271 |
Finance Income [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Interest income on loans to a related party/ third party | 507 | 3,396 | 3,396 |
Interest income on revenue contracts with significant financing component | 380 | 2,547 | 1,132 |
Interest income from service concession arrangement | 506 | 3,389 | 3,988 |
Interest income on structured deposits | 219 | ||
Interest income on bank deposit | 7 | 44 | 52 |
Finance income | 1,400 | 9,376 | 8,787 |
Interest expenses on loans | 292 | 1,954 | 2,032 |
Interest expense on lease liabilities | 8 | 53 | 86 |
Other finance costs | (28) | (185) | 210 |
Less: interest expense capitalized into intangible assets-concession right | (57) | ||
Finance costs | $ 272 | ¥ 1,822 | ¥ 2,271 |
LOSS BEFORE INCOME TAX (Schedul
LOSS BEFORE INCOME TAX (Schedule of Group's Loss Before Tax from Continuing Operations) (Details) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2021 CNY (¥) | |
Crediting: | |||
Finance income (Note 5) | $ (1,400) | ¥ (9,376) | ¥ (8,787) |
Charging: | |||
- Construction service | 762 | 5,107 | 3,916 |
- Operation services related to service concession arrangement | 547 | 3,664 | 2,804 |
- Construction services related to service concession arrangement | 389 | ||
Total | 1,309 | 8,771 | 7,109 |
Depreciation | |||
- Property, plant and equipment | 21 | 141 | 157 |
- Right-of-use assets (Note 11) | 106 | 707 | 681 |
Amortization of intangible assets* (Note 10) | 60 | 404 | 441 |
Expense relating to short-term leases | 26 | 174 | 338 |
Impairment losses/(reversal) on financial assets: | |||
- Trade receivables | 289 | 1,936 | 1,920 |
- Contract assets | (6) | (41) | 179 |
- Other receivables | 161 | 1,077 | |
- Amounts due from related companies | (1,106) | ||
Fair value (gain)/loss on financial instruments: | |||
- Financial assets at fair value through profit or loss (Note 18(a)) | 26,015 | ||
- Derivative financial liabilities (Note 18(b)) | (83) | (559) | (1,208) |
Issuance expense in related to placement | 1,579 | ||
Other income | (109) | (731) | (376) |
Finance costs (Note 5) | 272 | 1,822 | 2,271 |
Employee benefit expenses | $ 861 | ¥ 5,772 | ¥ 5,751 |
INCOME TAX (BENEFIT)_EXPENSE (D
INCOME TAX (BENEFIT)/EXPENSE (Details) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2021 CNY (¥) | |
Income Tax Benefitexpense | |||
Current income tax expense | $ 231 | ¥ 1,548 | ¥ 685 |
Deferred income tax benefit | (178) | (1,191) | (1,318) |
Total | $ 53 | ¥ 357 | ¥ (633) |
INCOME TAX (BENEFIT)_EXPENSE _2
INCOME TAX (BENEFIT)/EXPENSE (Details Narrative) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Applicable tax rate | 25% | 25% |
Preferential tax rate | 12.50% | 12.50% |
Dividend withholding tax rate | 10% | 5% |
Hong Kong [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Applicable tax rate | 16.50% |
(LOSS)_EARNINGS PER SHARE (Sche
(LOSS)/EARNINGS PER SHARE (Schedule of Basic and Diluted Loss Per Share) (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, shares in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) $ / shares shares | Jun. 30, 2022 CNY (¥) ¥ / shares shares | Jun. 30, 2021 CNY (¥) ¥ / shares shares | |
(Loss)/Earnings attributable to ordinary equity holders of the Company | $ 293 | ¥ 1,949 | ¥ (27,993) |
Basic and diluted | 40,948,082 | 40,948,082 | 40,488,634 |
Basic and diluted | (per share) | $ 0.01 | ¥ 0.05 | ¥ (0.69) |
PROPERTY, PLANT AND EQUIPMENT_2
PROPERTY, PLANT AND EQUIPMENT (Schedule of Property Plant and Equipment) (Details) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | $ 86 | ¥ 578 | ¥ 715 |
Gross carrying amount [member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 650 | 4,350 | 4,437 |
Gross carrying amount [member] | Buildings [member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 7 | 46 | 46 |
Gross carrying amount [member] | Machinery [member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 162 | 1,084 | 1,177 |
Gross carrying amount [member] | Motor vehicles [member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 371 | 2,486 | 2,486 |
Gross carrying amount [member] | Office equipment [member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 110 | 734 | 728 |
Accumulated depreciation, amortisation and impairment [member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | $ (564) | ¥ (3,772) | ¥ (3,722) |
INTANGIBLE ASSETS (Details)
INTANGIBLE ASSETS (Details) ¥ in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
IfrsStatementLineItems [Line Items] | |||
At June 30 | $ 2,953 | ¥ 19,785 | |
Net carrying amount | 2,953 | ||
Patent [Member] | |||
IfrsStatementLineItems [Line Items] | |||
At June 30 | 55 | 366 | |
Net carrying amount | ¥ 385 | ||
Net carrying amount | 55 | ||
Service concession rights [member] | |||
IfrsStatementLineItems [Line Items] | |||
At June 30 | 2,886 | 19,335 | |
Net carrying amount | 19,700 | ||
Net carrying amount | 2,886 | ||
Software [Member] | |||
IfrsStatementLineItems [Line Items] | |||
At June 30 | 12 | 84 | |
Net carrying amount | 104 | ||
Net carrying amount | $ 12 | ||
Accumulated depreciation, amortisation and impairment [member] | |||
IfrsStatementLineItems [Line Items] | |||
Net carrying amount | 20,189 | ||
Gross carrying amount [member] | |||
IfrsStatementLineItems [Line Items] | |||
At January 1 | 43,582 | 23,152 | |
Transfer in | 20,430 | ||
At June 30 | 43,582 | 43,582 | |
Amortization charge | (404) | (884) | |
Net carrying amount | 43,582 | ||
Gross carrying amount [member] | Patent [Member] | |||
IfrsStatementLineItems [Line Items] | |||
At January 1 | 22,878 | 22,878 | |
Transfer in | |||
At June 30 | 22,878 | 22,878 | |
Amortization charge | (19) | (105) | |
Net carrying amount | 22,878 | ||
Gross carrying amount [member] | Service concession rights [member] | |||
IfrsStatementLineItems [Line Items] | |||
At January 1 | 20,430 | ||
Transfer in | 20,430 | ||
At June 30 | 20,430 | 20,430 | |
Amortization charge | (365) | (730) | |
Net carrying amount | 20,430 | ||
Gross carrying amount [member] | Software [Member] | |||
IfrsStatementLineItems [Line Items] | |||
At January 1 | 274 | 274 | |
Transfer in | |||
At June 30 | 274 | 274 | |
Amortization charge | (20) | (49) | |
Net carrying amount | 274 | ||
Accumulated depreciation, amortisation and impairment [member] | |||
IfrsStatementLineItems [Line Items] | |||
At January 1 | (23,393) | (22,509) | |
At June 30 | (23,797) | (23,393) | |
Net carrying amount | (23,393) | ||
Accumulated depreciation, amortisation and impairment [member] | Patent [Member] | |||
IfrsStatementLineItems [Line Items] | |||
At January 1 | (22,493) | (22,388) | |
At June 30 | (22,512) | (22,493) | |
Net carrying amount | (22,493) | ||
Accumulated depreciation, amortisation and impairment [member] | Service concession rights [member] | |||
IfrsStatementLineItems [Line Items] | |||
At January 1 | (730) | ||
At June 30 | (1,095) | (730) | |
Net carrying amount | (730) | ||
Accumulated depreciation, amortisation and impairment [member] | Software [Member] | |||
IfrsStatementLineItems [Line Items] | |||
At January 1 | (170) | (121) | |
At June 30 | ¥ (190) | (170) | |
Net carrying amount | ¥ (170) |
LEASES (Details-Right Of Use As
LEASES (Details-Right Of Use Assets) ¥ in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
IfrsStatementLineItems [Line Items] | |||
Beginning balace | ¥ 2,351 | ¥ 3,560 | |
Addition | 157 | ||
Depreciation charge | (707) | (1,366) | |
Ending balance | $ 245 | 1,644 | 2,351 |
Motor vehicles [member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balace | 245 | 408 | |
Addition | |||
Depreciation charge | (82) | (163) | |
Ending balance | 24 | 163 | 245 |
Offices And Warehouse [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balace | 2,106 | 3,152 | |
Addition | 157 | ||
Depreciation charge | (625) | (1,203) | |
Ending balance | $ 221 | ¥ 1,481 | ¥ 2,106 |
LEASES (Details-Lease Liabiliti
LEASES (Details-Lease Liabilities) ¥ in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2021 CNY (¥) | Dec. 31, 2021 CNY (¥) | Jun. 30, 2022 CNY (¥) | |
IfrsStatementLineItems [Line Items] | |||||
Beginning balance | ¥ 2,189 | ¥ 3,550 | ¥ 3,550 | ||
Addition | 102 | ||||
Accretion of interest recognized during the period | $ 8 | 53 | 86 | 150 | |
Payments | (596) | (1,613) | |||
Ending balance | 246 | 1,646 | 2,189 | ||
Current portion | 91 | 981 | ¥ 613 | ||
Non-current portion | 155 | 1,208 | 1,033 | ||
Motor vehicles [member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Beginning balance | 155 | 502 | 502 | ||
Addition | |||||
Accretion of interest recognized during the period | 4 | 17 | |||
Payments | (364) | ||||
Ending balance | 24 | 159 | 155 | ||
Current portion | 24 | 155 | 159 | ||
Non-current portion | |||||
Offices And Warehouse [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Beginning balance | 2,034 | ¥ 3,048 | 3,048 | ||
Addition | 102 | ||||
Accretion of interest recognized during the period | 49 | 133 | |||
Payments | (596) | (1,249) | |||
Ending balance | 222 | ¥ 1,487 | 2,034 | ||
Current portion | 67 | 826 | 454 | ||
Non-current portion | $ 155 | ¥ 1,208 | ¥ 1,033 |
LEASES (Details-Lease related e
LEASES (Details-Lease related expenses) ¥ in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2021 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Depreciation expense of right-of-use assets | $ 106 | ¥ 707 | ¥ 681 | |
Interest on lease liabilities | 8 | 53 | 86 | ¥ 150 |
Expense relating to short-term leases | 26 | 174 | 338 | |
Total amounts recognized in profit or loss | $ 140 | ¥ 934 | ¥ 1,105 |
TRADE AND BILLS RECEIVABLE (Sch
TRADE AND BILLS RECEIVABLE (Schedule of Trade Receivables) (Details) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
Non-current | |||
Trade receivables from third parties | $ 2,510 | ¥ 16,815 | ¥ 17,033 |
Less: Impairment allowance | (1,248) | (8,360) | (7,532) |
Total of Non-current trade receivables | 1,262 | 8,455 | 9,501 |
Non-current trade receivables | 1,262 | 8,455 | 9,501 |
Current | |||
Trade receivables from third parties | 8,180 | 54,799 | 51,608 |
Less: Impairment allowance | (1,670) | (11,190) | (10,082) |
Total of current trade receivables | 6,510 | 43,609 | 41,526 |
Current trade receivables | 6,510 | 43,609 | 41,526 |
Bills receivable | |||
At fair value through other comprehensive income | 1,746 | 11,700 | |
Total | $ 9,518 | ¥ 63,764 | ¥ 51,027 |
TRADE AND BILLS RECEIVABLE (S_2
TRADE AND BILLS RECEIVABLE (Schedule of Aging Analysis of Trade Receivables) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
IfrsStatementLineItems [Line Items] | |||
Trade receivables | $ 9,518 | ¥ 63,764 | ¥ 51,027 |
Not Later Than One Year One [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade receivables | 6,031 | 40,398 | 19,026 |
Not Later Than One Yearto Two [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade receivables | 558 | 3,740 | 5,106 |
Not Later Thantwo Yeart To Three [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade receivables | 1,617 | 10,835 | 12,796 |
Over Three Years [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade receivables | $ 1,312 | ¥ 8,791 | ¥ 14,099 |
TRADE AND BILLS RECEIVABLES (Sc
TRADE AND BILLS RECEIVABLES (Schedule of loss allowance for trade receivables) (Details) ¥ in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Trade And Bills Receivable | |||
Beginning of the year | $ 2,629 | ¥ 17,614 | ¥ 13,774 |
Provision for expected credit loss, net | 289 | 1,936 | 3,840 |
End of the year | $ 2,918 | ¥ 19,550 | ¥ 17,614 |
TRADE AND BILLS RECEIVABLES (_2
TRADE AND BILLS RECEIVABLES (Schedule of Impairment) (Details) ¥ in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |||
IfrsStatementLineItems [Line Items] | |||||
Expected credit loss rate | 20% | 20% | 26% | ||
Gross carrying amount | ¥ 83,314 | ¥ 68,641 | |||
Impairment allowances | $ 2,918 | ¥ 19,550 | ¥ 17,614 | ||
Not Later Than One Year One [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Expected credit loss rate | 10% | 10% | 6% | ||
Gross carrying amount | ¥ 42,479 | ¥ 16,311 | |||
Impairment allowances | $ 360 | ¥ 2,412 | ¥ 955 | ||
Not Later Than One Year To Twoyears [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Expected credit loss rate | 10% | 10% | 26% | ||
Gross carrying amount | ¥ 4,186 | ¥ 6,865 | |||
Impairment allowances | $ 67 | ¥ 446 | ¥ 1,759 | ||
Not Later Than Two Years To Threeyears [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Expected credit loss rate | 10% | 10% | 13% | ||
Gross carrying amount | ¥ 12,412 | ¥ 14,712 | |||
Impairment allowances | $ 235 | ¥ 1,577 | [1] | ¥ 1,916 | [1] |
Over Three Years [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Expected credit loss rate | 60% | 60% | 48% | ||
Gross carrying amount | ¥ 23,906 | ¥ 27,083 | |||
Impairment allowances | $ 2,256 | 15,115 | [2] | 12,984 | [2] |
Current [member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Gross carrying amount | ¥ 331 | ¥ 3,670 | |||
[1]The impairment allowances included CNY221 and CNY211 as of December 31, 2021 and June 30, 2022, respectively, for specific trade receivables which were considered to be in default due to conditions which indicated that the Group was unlikely to receive the outstanding contractual amounts in full.[2]The impairment allowances included an amount of CNY4,646 and CNY4,588 as of December 31, 2021 and June 30, 2022, respectively, for specific trade receivables which were considered to be in default due to conditions which indicated that the Group was unlikely to receive the outstanding contractual amounts in full. |
CONTRACT ASSETS (Details)
CONTRACT ASSETS (Details) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
IfrsStatementLineItems [Line Items] | ||||
Non-current contract assets | $ 13,501 | ¥ 90,453 | ¥ 91,035 | |
Allowance account for credit losses of financial assets | (4) | (27) | (27) | |
Current contract assets | 2,321 | 15,552 | 15,331 | |
Less Impairement allowance | (86) | (576) | (535) | |
Contract asset | 15,822 | 106,005 | 106,366 | |
Service concession arrangements [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Non-current contract assets | [1] | 13,505 | 90,480 | 91,062 |
Current contract assets | [1] | 1,108 | 7,422 | 7,423 |
Service concession rights [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current contract assets | [2] | $ 1,299 | ¥ 8,706 | ¥ 8,443 |
[1]Service concession assets bearing an imputed interest of 7% arose from the Group’s revenue from construction service under a build-own-transfer (“BOT”) arrangement rendered by the Group’s subsidiary, Shaoguan Angrui Environmental Technology Development Co., Limited (“Shaoguan Angrui”). The facilities that the service concession arrangement relate to were under construction phases from June 2018 to December 2020 and commenced operation in January 2021.[2]The balance as of December 31, 2021 and June 30, 2022 comprised contract assets arising from performance under water treatment plant construction service contracts. Such contracts include payment schedules which require stage payments over the service periods once milestones are reached. |
CONTRACT ASSETS (Details 1)
CONTRACT ASSETS (Details 1) ¥ in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Contract assets [abstract] | |||
Beginning of the year | $ 84 | ¥ 562 | ¥ 205 |
Provision for expected credit loss, net | 6 | 41 | 357 |
End of the year | $ 90 | ¥ 603 | ¥ 562 |
CONTRACT ASSETS (Details Narrat
CONTRACT ASSETS (Details Narrative) | Jun. 30, 2022 | Dec. 31, 2021 |
Bottom of range [member] | ||
IfrsStatementLineItems [Line Items] | ||
Rate of range | 0.03% | 0.03% |
Top of range [member] | ||
IfrsStatementLineItems [Line Items] | ||
Rate of range | 54.78% | 55.93% |
OTHER RECEIVABLES (Details)
OTHER RECEIVABLES (Details) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
Other Receivables | |||
Loans to unrelated companies | $ 13,016 | ¥ 87,200 | ¥ 83,600 |
Deposit | 147 | 986 | 863 |
Others | 149 | 1,000 | 1,000 |
Financia assets amount | 13,312 | 89,186 | 85,463 |
Staff advance | 112 | 750 | 697 |
Others | 42 | 284 | 280 |
Total amount | 154 | 1,034 | 977 |
Impairment allowance | (196) | (1,316) | (239) |
Total | $ 13,270 | ¥ 88,904 | ¥ 86,201 |
CASH AND CASH EQUIVALENTS (Deta
CASH AND CASH EQUIVALENTS (Details) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
Cash and cash equivalents | |||
- Cash on hand | $ 11 | ¥ 70 | ¥ 74 |
- Cash at bank | 7,589 | 50,845 | 58,285 |
Cash and cash equivalents | $ 7,600 | ¥ 50,915 | ¥ 58,359 |
CASH AND CASH EQUIVALENTS (De_2
CASH AND CASH EQUIVALENTS (Details 1) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
IfrsStatementLineItems [Line Items] | |||
Cash and cash equivalents | $ 7,600 | ¥ 50,915 | ¥ 58,359 |
R M B [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Cash and cash equivalents | 4,662 | 31,228 | 37,333 |
U S [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Cash and cash equivalents | 2,838 | 19,015 | 20,011 |
H K [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Cash and cash equivalents | $ 100 | ¥ 672 | ¥ 1,015 |
OTHER PAYABLES AND ACCRUALS (Sc
OTHER PAYABLES AND ACCRUALS (Schedule of Other Payables and Accrued Liabilities) (Details) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
Other Payables And Accruals | |||
Accrued expenses | $ 849 | ¥ 5,689 | ¥ 5,398 |
Deposits from customers | ¥ | 1,335 | 505 | |
Deposits from customers | $ | 199 | ||
Liabilities related to bills receivable endorsed before maturity | 320 | 2,150 | |
Deposits from customers | 1,368 | 9,174 | 5,903 |
Penalties related to income tax | 566 | 3,789 | 3,025 |
Taxes other than income tax payable (a) | 358 | 2,396 | 285 |
Accrued payroll | 338 | 2,262 | 2,878 |
Others | 6 | 42 | 7 |
Total other payables | 1,268 | 8,489 | 6,195 |
Total | $ 2,636 | ¥ 17,663 | ¥ 12,098 |
FINANCIAL INSTRUMENTS (Details-
FINANCIAL INSTRUMENTS (Details-Financial Assets) - Financial assets, class [member] ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
Debt instruments at amortized cost: | |||
Accounts receivable: current | $ 6,510 | ¥ 43,609 | ¥ 41,526 |
Accounts receivable: non-current | 1,262 | 8,455 | 9,501 |
Financial assets included in other receivables | 13,116 | 87,870 | 85,224 |
Financial assets at fair value through other comprehensive income: | |||
Bills receivable | 1,746 | 11,700 | |
Total | 22,634 | 151,634 | 136,251 |
Total Current | 21,372 | 143,179 | 126,750 |
Total Non-current | $ 1,262 | ¥ 8,455 | ¥ 9,501 |
FINANCIAL INSTRUMENTS (Details
FINANCIAL INSTRUMENTS (Details - Schedule of financial liabilities) - Financial liabilities at amortised cost, class [member] ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
Derivatives not designated as hedging instruments: | |||
Derivative financial liabilities (i) | $ 183 | ¥ 1,224 | ¥ 1,710 |
Financial liabilities at amortized cost: | |||
Trade payables | 2,658 | 17,810 | 21,118 |
Financial liabilities in other payables and accruals | 1,368 | 9,174 | 5,903 |
Dividends payable | 753 | 5,048 | 5,048 |
Lease liabilities | 246 | 1,646 | 2,189 |
Due to related companies | 893 | 5,986 | 5,710 |
Due to the Shareholder | 2,097 | 14,050 | 14,050 |
Interest-bearing loans and borrowings | 11,270 | 75,500 | 77,000 |
Total | 19,468 | 130,438 | 132,728 |
Total current | 8,491 | 56,905 | 57,520 |
Total non-current | $ 10,977 | ¥ 73,533 | ¥ 75,208 |
FINANCIAL INSTRUMENTS (Detail_2
FINANCIAL INSTRUMENTS (Details-Fair Value) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
IfrsStatementLineItems [Line Items] | |||
Carrying amount | $ 11,270 | ¥ 75,500 | ¥ 77,000 |
Fair value | 11,713 | 78,471 | 79,003 |
Loans And Borrowings [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Carrying amount | 11,270 | 75,500 | 77,000 |
Fair value | $ 11,713 | ¥ 78,471 | ¥ 79,003 |
FINANCIAL INSTRUMENTS (Detail_3
FINANCIAL INSTRUMENTS (Details-CarryingAmounts) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
IfrsStatementLineItems [Line Items] | |||
Derivative financial liabilities | ¥ | ¥ 1,224 | ¥ 1,710 | |
Bills receivables | $ 1,746 | 11,700 | |
Derivative financial liabilities | $ | 183 | ||
Level 1 of fair value hierarchy [member] | |||
IfrsStatementLineItems [Line Items] | |||
Derivative financial liabilities | ¥ | |||
Bills receivables | |||
Derivative financial liabilities | $ | |||
Level 2 of fair value hierarchy [member] | |||
IfrsStatementLineItems [Line Items] | |||
Derivative financial liabilities | ¥ | 1,224 | 1,710 | |
Bills receivables | 1,746 | 11,700 | |
Derivative financial liabilities | $ | 183 | ||
Level 3 of fair value hierarchy [member] | |||
IfrsStatementLineItems [Line Items] | |||
Derivative financial liabilities | ¥ | |||
Bills receivables | |||
Derivative financial liabilities | $ |
FINANCIAL INSTRUMENTS (Detail_4
FINANCIAL INSTRUMENTS (Details Narrative) $ / shares in Units, ¥ in Thousands, $ in Thousands | 1 Months Ended | 6 Months Ended | ||||
Jul. 14, 2022 $ / shares | Jan. 20, 2021 USD ($) $ / shares shares | Jan. 20, 2021 CNY (¥) shares | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2021 CNY (¥) | |
IfrsStatementLineItems [Line Items] | ||||||
Initial exercise price | $ / shares | $ 0.623 | |||||
Securities Purchase Agreement [Member] | ||||||
IfrsStatementLineItems [Line Items] | ||||||
Aggregate of shares | 3,960,000 | 3,960,000 | ||||
Common shares at a price | 1.85 | 1.85 | ||||
Warrants exercisable shares | 1,584,000 | 1,584,000 | ||||
Initial exercise price | $ / shares | $ 2.35 | |||||
Fair value gain loss | $ 1,427 | ¥ 9,246 | $ 83 | ¥ 559 | ¥ 1,208 |
FINANCIAL RISK MANAGEMENT OBJ_3
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Details - Liquidity risk) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
IfrsStatementLineItems [Line Items] | |||
Dividends payable | $ 753 | ¥ 5,048 | ¥ 5,048 |
Due to related companies | 893 | 5,986 | 5,710 |
Due to the Shareholder | 6 | 42 | 7 |
Total [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Derivative financial liabilities | 183 | 1,224 | 1,710 |
Trade payables | 2,658 | 17,810 | 21,118 |
Financial liabilities in other payables and accruals | 1,368 | 9,174 | 5,903 |
Dividends payable | 753 | 5,048 | 5,048 |
Due to related companies | 893 | 5,986 | 5,710 |
Due to the Shareholder | 2,097 | 14,050 | 14,050 |
Lease liabilities | 270 | 1,806 | 2,401 |
Interest-bearing loans and borrowings | 16,481 | 110,413 | 113,813 |
Total | 24,703 | 165,511 | 169,753 |
On demand [member] | |||
IfrsStatementLineItems [Line Items] | |||
Derivative financial liabilities | 183 | 1,224 | 1,710 |
Trade payables | |||
Financial liabilities in other payables and accruals | |||
Dividends payable | |||
Due to related companies | |||
Due to the Shareholder | |||
Lease liabilities | |||
Interest-bearing loans and borrowings | |||
Total | 183 | 1,224 | 1,710 |
Not later than one year [member] | |||
IfrsStatementLineItems [Line Items] | |||
Derivative financial liabilities | |||
Trade payables | 2,658 | 17,810 | 21,118 |
Financial liabilities in other payables and accruals | 1,368 | 9,174 | 5,903 |
Dividends payable | 753 | 5,048 | 5,048 |
Due to related companies | 893 | 5,986 | 5,710 |
Due to the Shareholder | 2,097 | 14,050 | 14,050 |
Lease liabilities | 102 | 683 | 1,047 |
Interest-bearing loans and borrowings | 1,016 | 6,806 | 6,882 |
Total | 8,887 | 59,557 | 59,758 |
Later than one year and not later than five years [member] | |||
IfrsStatementLineItems [Line Items] | |||
Derivative financial liabilities | |||
Trade payables | |||
Financial liabilities in other payables and accruals | |||
Dividends payable | |||
Due to related companies | |||
Due to the Shareholder | |||
Lease liabilities | 168 | 1,123 | 1,354 |
Interest-bearing loans and borrowings | 4,315 | 28,908 | 28,792 |
Total | 4,483 | 30,031 | 30,146 |
More Than Five Years [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Derivative financial liabilities | |||
Trade payables | |||
Financial liabilities in other payables and accruals | |||
Dividends payable | |||
Due to related companies | |||
Due to the Shareholder | |||
Lease liabilities | |||
Interest-bearing loans and borrowings | 11,150 | 74,699 | 78,139 |
Total | $ 11,150 | ¥ 74,699 | ¥ 78,139 |
FINANCIAL RISK MANAGEMENT OBJ_4
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Details Narrative) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Financial Risk Management Objectives And Policies | ||
Debt to capital ratio | 29.27% | 30.31% |
INTEREST-BEARING LOANS AND BO_3
INTEREST-BEARING LOANS AND BORROWINGS (Details) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Interest-bearing Loans And Borrowings | |||
Interest rate | 5.05% | ||
Maturity | 2023 to 2038 | ||
Non-current interest-bearing loans | $ 10,822 | ¥ 72,500 | ¥ 74,000 |
Current interest rate | 5.05% | ||
Current loans maturity | 2022 to 2023 | ||
Current interest-bearing loans | $ 448 | 3,000 | 3,000 |
Total | $ 11,270 | ¥ 75,500 | ¥ 77,000 |
INTEREST-BEARING LOANS AND BO_4
INTEREST-BEARING LOANS AND BORROWINGS (Details Narrative) | 6 Months Ended |
Jun. 30, 2022 | |
Interest-bearing Loans And Borrowings | |
Equal annual installments, description | The outstanding balance as of June 30, 2022 is due in annual instalments of CNY1,500 due as of December 31, 2022, CNY3,000 due in 2023; CNY4,000 due annually from 2024 to 2028; CNY5,000 due annually from 2029 to 2034; CNY6,000 due in 2035; and CNY5,000 due annually from 2036 to 2038. |
EQUITY (Details-Issued Capital)
EQUITY (Details-Issued Capital) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
Authorized: | |||
10,000,000 preferred shares, no par value | |||
200,000,000 common shares, no par value | |||
Common shares issued and fully paid: | |||
June 30, 2022: 40,948,082, (December 31, 2021: 40,948,082) common shares, no par value | $ 67,286 | ¥ 450,782 | ¥ 450,782 |
EQUITY (Details-Share Capital)
EQUITY (Details-Share Capital) ¥ in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 USD ($) shares | Jun. 30, 2022 CNY (¥) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2021 CNY (¥) shares | |
Equity | ||||
Beginning balance | 40,948,082 | 40,948,082 | 36,988,082 | 36,988,082 |
Beginning balance | $ 67,286 | ¥ 450,782 | $ 62,556 | ¥ 419,091 |
Common shares issued through private placement | 3,960,000 | 3,960,000 | ||
Common shares issued through private placement | $ 4,730 | ¥ 31,691 | ||
Ending balance | 40,948,082 | 40,948,082 | 40,948,082 | 40,948,082 |
Ending balance | $ 67,286 | ¥ 450,782 | $ 67,286 | ¥ 450,782 |
RELATED PARTY BALANCES AND TR_3
RELATED PARTY BALANCES AND TRANSACTIONS (Schedule of Commercial Transactions with Related Parties) (Details) ¥ in Thousands, $ in Thousands | 6 Months Ended | |||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2021 CNY (¥) | ||
Interest income received from Feishang Enterprise | [1],[2] | ¥ 3,396 | ||
[custom:ChnrsShareOfOfficeRentalRatesAndOthersToAnkaConsultantsLimitedankaB] | [3],[4] | 32 | 217 | 205 |
Feishang Management's share of office rental to Feishang Enterprise | [1],[5] | 13 | 84 | 84 |
[custom:ShenzhenNewPstsShareOfOfficeRentalToFeishangEnterprisea] | [1],[6] | $ 2 | ¥ 15 | ¥ 45 |
[1]Feishang Enterprise, Feishang Group and Feishang Energy are controlled by Mr. Li Feilie, who is the controlling shareholder of the Company.[2]The Company’s subsidiary, Shanghai Onway, entered into a series of contracts to provide a loan amounting to CNY80,000 at an interest rate of 9% per annum to Feishang Enterprise from March 2, 2018 to June 30, 2021.[3]Anka is jointly owned by Mr. Wong Wah On Edward and Mr. Tam Cheuk Ho, who are officers of the Company.[4]The Company signed a contract with Anka to lease 184 square meters of office premises for two years, from July 1, 2018 to June 30, 2020, subsequently extended to June 30, 2024. The agreement also 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 services provided by Anka.[5]On January 1, 2018, Feishang Management signed an office-sharing agreement with Feishang Enterprise. Pursuant to the agreement, Feishang Management shares 40 square meters of office premises for 33 months. Feishang Management signed a new contract with Feishang Enterprise in October 2021, which was renewed in October 2022 and will expire on September 30, 2023.[6]Shenzhen New PST signed a contract with Feishang Enterprise to lease 96 square meters of office premises annually. The latest contract is from March 14, 2022 to March 13, 2023. |
RELATED PARTY BALANCES AND TR_4
RELATED PARTY BALANCES AND TRANSACTIONS (Schedule of Group Payables with Related Parties) (Details) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
IfrsStatementLineItems [Line Items] | ||||
Payable to related companies | $ 893 | ¥ 5,986 | ¥ 5,710 | |
Payable to the Shareholder: | 2,097 | 14,050 | 14,050 | |
Dividend payables to related companies | 753 | 5,048 | 5,048 | |
Lease liabilities to related parties | 372 | |||
Feishang Enterprise [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Payable to related companies | [1],[2] | 457 | 3,068 | 3,019 |
Anka Capital Limited [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Payable to related companies | [3] | 421 | 2,818 | 2,691 |
Yangpu Lianzhong Mining Co [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Payable to related companies | [4],[5] | 15 | 100 | |
Feishang Group [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Payable to the Shareholder: | [1],[6] | 2,097 | 14,050 | 14,050 |
Qianhai Industrial [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Dividend payables to related companies | [7],[8] | 753 | 5,048 | 5,048 |
Anka [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Lease liabilities to related parties | [3] | ¥ 372 | ||
[1]Feishang Enterprise and Feishang Group are controlled by Mr. Li Feilie, who is the controlling shareholder of the Company.[2]The payable to Feishang Enterprise by Feishang Management represents the net amount of advances from Feishang Enterprise. The balance is unsecured and interest-free. The balance is repayable when the Group is in a position to settle the amounts due without having a detrimental impact on the financial resources of the Group.[3]Anka Capital and Anka are each jointly owned by Wong Wah On Edward and Tam Cheuk Ho, who are officers of the Company.[4]The payable to Yangpu Lianzhong Mining Co., Ltd by Feishang Management represents the net amount of advances from Yangpu Lianzhong Mining Co., Ltd. The balance is unsecured and interest-free. The balance is repayable when the Group is in a position to settle the amounts due without having a detrimental impact on the financial resources of the Group.[5]Yangpu Lianzhong Mining Co., Ltd is controlled by Mr. Li Feilie, who is the controlling shareholder of the Company.[6]The payable to Feishang Group represents the net amount of advances from Feishang Group. The balance is unsecured and interest-free. The balance is repayable when the Group is in a position to settle the amounts due without having a detrimental impact on the financial resources of the Group.[7]Qianhai Industrial is controlled by Mr. Li Feilie, who is the controlling shareholder of the Company.[8]The dividend payable to Shenzhen Qianhai Feishang Industrial Investment Co., Ltd. (“Qianhai Industrial”) represents the declared but unpaid dividend that was approved at the shareholder meeting of Shenzhen Qianhai on June 22, 2021, prior to the acquisition of Precise Space-Time Technology Limited (“PST Technology”) and its subsidiaries by the Group. |
RELATED PARTY BALANCES AND TR_5
RELATED PARTY BALANCES AND TRANSACTIONS (Schedule of Compensation of Key Management Personnel of Group) (Details) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2021 CNY (¥) | |
Wages, salaries and allowances | $ 92 | ¥ 618 | ¥ 661 |
Housing subsidies | 2 | 11 | 10 |
Contribution to pension plans | 6 | 43 | 41 |
Total Compensation of key management personnel | $ 100 | ¥ 672 | ¥ 712 |
COMMITMENTS (Details Narrative)
COMMITMENTS (Details Narrative) - CNY (¥) | Jun. 30, 2022 | Dec. 31, 2021 |
Commitments | ||
Capital commitments | ¥ 0 | ¥ 0 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) | Jul. 14, 2022 $ / shares shares |
IfrsStatementLineItems [Line Items] | |
Number of shares related to option | 8,100,000 |
Exercise price for the options | $ / shares | $ 0.623 |
Number of shares related to warrants | 1,980,000 |
Adjusted exercise price | $ / shares | $ 0.623 |
Bottom of range [member] | |
IfrsStatementLineItems [Line Items] | |
Options exercisable | 40,000 |
Top of range [member] | |
IfrsStatementLineItems [Line Items] | |
Options exercisable | 200,000 |
Woo Chun Kei Jackie [Member] | |
IfrsStatementLineItems [Line Items] | |
Options exercisable | 3,700,000 |
Li Feiwen [Member] | |
IfrsStatementLineItems [Line Items] | |
Options exercisable | 3,000,000 |