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
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