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

			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:

	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

	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.