SHENYANG, China, May 15, 2018 /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 months ended March 31,
2018.
2018 First Quarter Results Highlight:
- Total revenues were $147,079 and
$1,036,041 for the three month ended
March 31, 2018 and 2017,
respectively, which decreased by $888,962, or 85.80% if compared total revenues
for the three month ended March 31,
2017.
- The gross profit was $31,437 and
$125,782 for the three month ended
March 31, 2018 and 2017,
respectively, which decreased by $94,345, or 75%, if compared to gross profit for
the three month ended March 31,
2017.
- The net loss was $505,039 and
$424,239 for the three month ended
March 31, 2018 and 2017,
respectively, which increased by $80,800 if compared to net loss for the
three month ended March 31,
2017.
The decrease in the total revenues was due to the the delivered
inventories in the end of 2017 were recognized without the invoices
as the revenues of 2017. As a result, the Company deducted these
revenues that have been recognized as the revenues of 2017 when
received the invoices in the first quarter of 2018.
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.
Andy Gao
Phone Number: +86-24-2560-9775
Email: info@nfenergy.com
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SOURCE NF Energy Saving Corporation