SHENYANG, China, March 22, 2018 /PRNewswire/ -- NF Energy Saving Corporation (NFEC) ("NF Energy" or the Company), a leading energy saving service solutions provider for China's power, petrochemical, coal, metallurgy, construction and municipal infrastructure development industries, announced that the Company signed a securities purchase agreement with a Chinese investor whose name is Yongquan Bi. According to this agreement, the Company issued 500,000 shares of its Common Stock to him at a purchase price of $1.00 per share. The issuance of the shares was a private placement.
Mr. Yongquan Bi serves for Dalian Boqi Group as the board director.
The purpose of the issuance is to increase the working capital for the Company.
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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SOURCE NF Energy Saving Corporation