HONG KONG, March 20, 2026 (EZ Newswire) -- China Natural Resources, Inc. (NASDAQ: CHNR) ("CHNR" or the "Company"), a holding company that operates in exploration and mining business, today announced that it has signed a non-binding Letter of Intent ("LOI") with Feishang Group Limited, its principal shareholder ("Feishang"), to acquire 100% shares of a wholly owned subsidiary of Feishang that will own, directly or indirectly, 59.79% of the equity interest of HooRii Technology (HK) Limited ("HooRii"), a limited liability company incorporated in Hong Kong specializing in physical AI development, through the combination of IOT and artificial intelligence, to bring AI into the physical world (the "Acquisition"). The Company has established a special committee consisting of all of the independent directors to evaluate the Acquisition.

Pursuant to the LOI, the Acquisition's total consideration is estimated to range between US$37 million to US$40 million through a combination of cash and stock issuance. The Acquisition is subject to the negotiation and execution of definitive documentation, completion of due diligence, receipt of regulatory approvals, and necessary corporate approval, alongside other customary closing conditions.

This proposed Acquisition represents a pivotal strategic evolution for CHNR, advancing the Company's dual mandate to strengthen its core mining operations through AI and to build a scalable growth platform in cutting-edge AI and IoT technologies. CHNR plans to deploy HooRii's AI and IoT expertise to optimize mining workflows, enhance safety, and improve cost efficiency across CHNR's global assets, while leveraging HooRii's market-leading technology to expand into the high-growth physical AI market, diversifying beyond traditional resources.

Since its founding in 2021, HooRii has been at the forefront of IoT technology. Supported by Feishang, HooRii is a world-leading company at the intersection of AI and IoT, determined to become a key force in connecting artificial intelligence with the physical world, driven by the mission to "Bring your AI to the real world." HooRii initially focused on advancing the development and commercialization of the Thread protocol, successfully launching a series of hardware and software products and solutions that provided robust technical support for millions of IoT devices and thousands of developers worldwide.

In 2026, as OpenClaw became the most popular project in GitHub's history, a wave of personal AI assistants swept the globe. HooRii seized this momentum to launch ClawStage, the first embodied personal AI built on the OpenClaw architecture. This landmark product received widespread acclaim within a month of its launch, gaining over 10 million impressions and attracting more than 10,000 seed users. Since its inception, HooRii has secured multiple rounds of investment from renowned funds, including Plum Ventures, Eminence Ventures, and PreAngel, with total financing exceeding $7 million USD.