Feishang Industrial Group Co., Ltd. entered into a sale and purchase agreement to acquire Precise Space-Time Technology Co., Ltd. from China Natural Resources, Inc. (NasdaqCM:CHNR) for CNY 95.8 million on July 28, 2023. As of December 31, 2022, Precise Space-Time Technology Co., Ltd. generated revenue of CNY 20.3 million, total assets of CNY 315 million, operating profit of CNY 5.8 million and net income of CNY 1 million. On July 28, 2023, the Company?s board of directors had approved the Sale and Purchase Agreement (?SPA") with Feishang Group.