Business
China Natural Resources Applies a 45-day extension of the filing deadline of the FORM 20-F
HONG KONG, April 29, 2020 /PRNewswire/ -- CHINA NATURAL RESOURCES, INC. (NASDAQ: CHNR), a company based in the People's Republic of China (the "PRC"), today
About this update from China Natural Resources, Inc.
[{"type":"text","content":"HONG KONG, April 29, 2020 /PRNewswire/ -- CHINA NATURAL RESOURCES, INC. (NASDAQ: CHNR), a company based in the People's Republic of China (the \"PRC\"), today announced that, on April 29, 2020, it filed a Current Report on Form 6-K with the Securities and Exchange Commission (the \"SEC\") as a condition to seeking relief provided by the SEC Order under Section 36 of the Securities and Exchange Act of 1934, as amended (the \"Exchange Act\"), granting exemptions from specified provisions of the Exchange Act, as set forth in SEC Release No. 34-88318 (the \"Order\"). By filing this Current Report on Form 6-K, the Company is relying on the Order to receive an additional 45 days to file its Annual Report on Form 20-F for the fiscal year ended December 31, 2019 (the \"20-F\"). The 20-F would have been due on April 30, 2020. With this extension the Company expects to file the 20-F on or before June 14, 2020.\nThe Company conducts its business operations mainly in Inner Mongolia Autonomous Region, the PRC. In accordance with the epidemic control measures imposed by the local governments since February 2020 after the outbreak of novel coronavirus (\"COVID-19\"), the Company remained closed until partially re-opened in mid-March. Moreover, the Company's personnel responsible for assisting the Company in the preparation of its 20-F have been unable to return to work until the beginning of April, because they were quarantined in Hubei Province, the critical epicenter of the COVID-19 outbreak. Furthermore, before the affected employees could return to work at the Company's office in Shenzhen, they are required to undergo an additional 14 days of quarantine according to local control measures. As a result, the above consequences arising from the COVID-19 pandemic have adversely affected the efficiency and the overall timeline of the Company's preparation of the 20-F to be filed with the SEC.\nRisk Factors\nThe COVID-19 is currently impacting countries, communities, supply chains and markets globally. The outbreak of COVID-19 in China results in increased travel restrictions, border control, and shutdown of businesses, which may cause slower recovery of the China economy. We may experience impact from quarantines and market downturns related to pandemic fears and impact on our workforce if the virus continues to spread. COVID-19 affects our wor...