NF Energy Saving Corporation Announces 2016 Second Quarter Financial Results

SHENYANG, China, Aug. 15, 2016 /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, 2016.

2016 Second Quarter Results Highlight

• The total revenues were USD0.68 million and USD2.24 million for the three months and six months ended June 30, 2016,
• Gross profit was USD57,668 and (USD90,507) for the three months and six months ended June 30, 2016.

Speaking on behalf of the Company, Mr. Gang Li, Chairman and CEO, said, "The decrease in both total revenue and gross profit in the second quarter of 2016 was mainly due to the construction postponement of the Northwestern Liaoning Water Supply Project, which delayed the delivery of the Company's products. At present, these products are being delivered to our client. According to the revised schedule with the client, delivery will be completed prior to January 2017. Therefore, these products will be accrued to product revenue in following quarters.

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:

Andy Gao
+86-24-25609775
[email protected]

SOURCE NF Energy Saving Corporation

Related Links

http://www.nfenergy.com