SHENYANG, China, Aug. 14, 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 and six months ended June 30,
2018.
2018 Second Quarter Results Highlight
- Total revenues were $564,339 and
$711,418 for the three and six months
ended June 30, 2018, respectively, as
compared to $1,677,404 and
$2,713,445 for the corresponding
period in 2017. Total revenues decreased by $1,113,065 and $2,002,027 for the three and six months ended
June 30, 2018, respectively, as
compared to total revenues for the three and six months ended
June 30, 2017.
- The overall gross profit for the Company was $291,791 and 323,228 (51.70% and 45.43% margin)
for the three and six months ended June 30,
2018, respectively, as compared to $293,830 and $419,612 (17.51% and 15.46% margin) for the
corresponding three and six months in 2017, respectively, a
decrease of $2,039 and $96,384, or 0.69% and 22.96%, compared to the
corresponding period in 2017.
- As a result of the factors mentioned above, net loss was
$1,651,624 and $2,156,663 for the three and six months ended
June 30, 2018, respectively, as
compared to net loss of $261,333 and
$685,572 for the corresponding period
in 2017, an increase of $1,390,291
and $1,471,091.
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.
For More Information:
Contact Person: Andy Gao
Phone Number: +86-24-25609775
Email: info@nfenergy.com
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SOURCE NF Energy Saving Corporation
