China Energy Recovery
China Energy Recovery is an international leader in designing, manufacturing and installing waste heat energy recovery systems which provide facilities with greater energy efficiency. The company's primary focus is on the Chinese market.
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China Energy Recovery sees second quarter results much improved
China Energy Recovery Inc (OTCBB: CGYV) reported a weak first quarter but expects a much stronger performance in the second, exceeding the average level of quarterly results in 2008, helped by the recently announced new contracts.
The waste heat energy recovery specialist reported revenue of 1.26 million in the quarter to end-March 2009 mainly due to a reduction in order completion between quarters as a result of the economic downturn. It made a net loss of US$1.47 million in the period.
Chairman Qinghuan Wu said: “Our current order book provides a positive indication of our top line performance for the next several quarters. Further, the emerging market recovery and the continuously strong emphasis of governments on energy efficiency and pollution reduction, especially in China, will continue to help enhance our order pipeline for 2009 and 2010."
Other China Energy Recovery news
- China Energy Recovery completes US$1.42m contract for Hubei Yangfeng Group
2009-10-14 - China Energy Recovery names Estelle Lau independent director
2009-10-07 - China Energy Recovery wins heat receovery system contract from Hubei Sanning
2009-09-24 - China Energy Recovery wins US$4.47m sulfuric acid plant order in Tianjin
2009-09-09 - China Energy Recovery agrees major terms for site of new manufacturing plant
2009-08-27
