中国循环能源公布2015年全年财务业绩ChinaRecycling Energy Corporation Reports Full Year 2015 Financial Results
TotalSales in 2015 Up 23.89% Year-over-Year
XI'AN, China, March29, 2016 -- China Recycling Energy Corp. (NASDAQ: CREG)("CREG" or "the Company"), a leading industrialwaste-to-energy solution provider in China, today announced its financialresults for the full year ended December 31, 2015.
Full Year 2015 Audited Financial Highlights · Interest income onsales-type leases decreased 13.08%to US$23.00 million from US$26.46million in 2014; · Total salesincreased 23.89%. to US$24.36 million from US$19.66 million in 2014; · Net income was US$18.40million, down7.14% fromUS$19.81million in 2014; · Basic and fully diluted earnings per share(EPS) wasUS$0.22, as compared with US$0.28in 2014.
Mr. GuohuaKu, Chairman and CEO of CREG commented, "In consideration of the downturnand decline of iron and steel enterprises in China in recent years as well asthe restructure and change in ownership interest of certain clients, thecompany transferred Jitie Project, Datong Project and Zhongtai CDQ project in2015. Taking into consideration the time value of money and the opportunity todeploy the cash to fund some of the numerous projects in our pipeline, webelieve that the early termination fee more than compensates the Company forthe loss of future income but further strengthen our financial position andspur a new round of business development. We continue to invest in our R&Defforts to explore new solutions to be used in more energy intensiveindustries."
Formore information regarding China Recycling Energy Corp.'s financial performanceduring the full year December 31, 2015, please refer to the Yearly Report on Form 10-K, which was filed with theSecurities and Exchange Commission on March 29, 2015.
About China Recycling Energy Corp.
ChinaRecycling Energy Corp. (NASDAQ: CREG) ("CREG" or "theCompany") is based inXi'an, China and provides environmentally friendly waste-to-energy technologiesto recycle industrial byproducts for steel mills, cement factories and cokeplants in China. Byproducts include heat, steam, pressure, and exhaust togenerate large amounts of lower-cost electricity and reduce the need foroutside electrical sources. The Chinese government has adopted policies toencourage the use of recycling technologies to optimize resource allocation andreduce pollution. Currently, recycled energy represents only an estimated 1percent of total energy consumption and this renewable energy resource isviewed as a growth market due to intensified environmental concerns and risingenergy costs as the Chinese economy continues to expand. The management andengineering teams have over 20 years of experience in industrial energyrecovery in China. For more information about CREG, please visit http://creg-cn.investorroom.com.
Safe Harbor Statement
Thispress release may contain certain "forward-looking statements"relating to the business of China Recycling Energy Corp. and its subsidiarycompanies. All statements, other than statements of historical fact includedherein are "forward-looking statements." These forward-lookingstatements are often identified by the use of forward-looking terminology suchas "believes," "expects" or similar expressions, involveknown and unknown risks and uncertainties. Although the Company believes thatthe expectations reflected in these forward-looking statements are reasonable,they do involve assumptions, risks and uncertainties, and these expectationsmay prove to be incorrect. Investors should not place undue reliance on theseforward-looking statements, which speak only as of the date of this pressrelease. The Company's actual results could differ materially from thoseanticipated in these forward-looking statements as a result of a variety offactors, including those discussed in the Company's periodic reports that arefiled with the Securities and Exchange Commission and available on its websiteat http://www.sec.gov. All forward-looking statements attributable tothe Company or persons acting on its behalf are expressly qualified in theirentirety by these factors. Other than as required under the securities laws,the Company does not assume a duty to update these forward-looking statements.
For more information, please contact: Mr.Jackie Shi,Chief Financial Officer & Board Secretary Email: shi723910@163.com/ shi723@creg-cn.com
|
