NF Energy Saving Corporation Announces 2018 Second Quarter Financial Results

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: [email protected]

SOURCE NF Energy Saving Corporation

Related Links

http://www.nfenergy.com