SHENYANG, China, Aug. 14, 2017 /PRNewswire/ -- NF Energy Saving
Corporation (NASDAQ: NFEC) ("NF Energy" or the "Company"), a
leading energy saving services and solutions provider for
China's power, petrochemical,
coal, metallurgy, construction, and municipal infrastructure
development industries, today reported its financial results for
the three and six months ended June 30,
2017.
2016 Second Quarter Results Highlight
- Total revenues were $1,677,404
and $2,713,445 for the three and six
months ended June 30, 2017,
respectively, as compared to $683,754
and $2,244,414 for the corresponding
period in 2016. Total revenues increased by $993,650 and $469,031, or 145.32% and 20.90%, for the three
and six months ended June 30, 2017,
respectively, as compared to total revenues for the three and six
months ended June 30, 2016.
- The overall gross profit for the Company was $293,830 and 419,612 (17.51% and 15.46% margin)
for the three and six months ended June 30,
2017, respectively, as compared to $57,668 and -$-90,507 (8.43% and -4.03% margin) for the
corresponding three and six months in 2016, respectively, an
increase of $236,162 and $510,119, or 409.52% and 563.62%, compared to the
corresponding period in 2016.
- The net loss was $261,333 and
$685,572 for the three and six months
ended June 30, 201,7 respectively, as
compared to net loss of $276,493 and
$819,641 for the corresponding period
in 2016, a decrease of $15,160 and
$134,069, respectively.
Speaking on behalf of the Company, Mr. Gang Li, Chairman and
CEO, said, "The increase in both total revenues and gross profit in
second quarter 2017 were mainly due to the delivery of the products
relating to the construction of the LXB Water Supply Project and
the increase in our orders this year, especially our service
revenues, which significantly increased as compared with the
corresponding period in 2016。However, the net loss is still be an
important issue in the second quarter due to a significant increase
in our general and administrative expenses."
About NF Energy Saving Corporation
NF Energy Saving Corporation (NASDAQ: NFEC) is a
China-based provider of integrated
energy conservation solutions utilizing energy-saving equipment,
technical services and energy management re-engineering project
operations to provide energy saving services to clients. The
Company's customers are mainly concentrated in the electrical
generation (large-scale thermal power generation, hydroelectric
power, and nuclear power), water supply, and heat supply
industries. The majority of revenues are from energy efficient flow
control solutions including equipment and energy efficiency project
services. For more information, visit http://www.nfenergy.com
Safe Harbor Statement
The statements contained herein that are not historical facts
are considered "forward-looking statements." Such forward-looking
statements may be identified by, among other things, the use of
forward-looking terminology such as "believes," "expects," "may,"
"will," "should," or "anticipates" or the negative thereof or other
variations thereon or comparable terminology, or by discussions of
strategy that involve risks and uncertainties. In particular,
statements regarding the efficacy of investment in research and
development are examples of such forward-looking statements. The
forward-looking statements include risks and uncertainties,
including, but not limited to, the effect of political, economic,
and market conditions and geopolitical events; legislative and
regulatory changes that affect our business; the availability of
funds and working capital; the actions and initiatives of current
and potential competitors; investor sentiment; and our reputation.
We do not undertake any responsibility to publicly release any
revisions to these forward-looking statements to take into account
events or circumstances that occur after the date of this report.
Additionally, we do not undertake any responsibility to update you
on the occurrence of any unanticipated events, which may cause
actual results to differ from those expressed or implied by any
forward-looking statements. The factors discussed herein are
expressed from time to time in our filings with the Securities and
Exchange Commission available at http://www.sec.gov.
Contact Person: Andy Gao
Phone Number: +86-24-25609775
Email: info@nfenergy.com
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SOURCE NF Energy Saving Corporation