Speaking on behalf of the Company, Mr. Gang Li, Chairman and CEO, said “The decrease of the total revenues in first quarter 2017 were mainly due to the postponement in construction of the Client’s Project, which delayed the delivery of the Company’s products. According to the schedule discussed with our client, the delivery should be completed in next following six months. Therefore, we anticipate that these inventories 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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SOURCE NF Energy Saving Corporation