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Stock impact report

China Recycling Energy Corporation Reports Results for the Full Year 2019

Smart Powerr Corp. (CREG) 
US:NASDAQ Investor Relations: creg-cn.com/en
Company Research Source: GlobeNewswire
XI'AN, China, May 14, 2020 (GLOBE NEWSWIRE) -- China Recycling Energy Corporation (NASDAQ: CREG) ("CREG" or "the Company"), an industrial waste-to-energy solution provider in China, today reported certain highlights of its audited operating results for the full year ended December 31, 2019. “As of December 31, 2019, we maintained a healthy cash and cash equivalents balance of approximately $16.22 million,” stated Mr. Guohua Ku, Chairman and CEO of the Company. In addition, we have accomplished significant cost cutting throughout our entire organization, evidenced by net loss narrowed by approximately 86.7% to approximately $(8.77) million in fiscal 2019, as compared to approximately $(76.22) million in the same period of fiscal 2018. We are executing what we believe is a clear plan to manage our business efficiently and effectively through the coronavirus pandemic, prioritizing the health and safety of our customers and teams.  We believe our financial position and contingency plan Show less Read more
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