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Market: OTCBB
Sector: Industrial Machinery
EPIC: CGYV
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China Energy Recovery
www.chinaenergyrecovery.com

China Energy Recovery is a 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.

 

Full China Energy Recovery profile here
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China Energy Recovery reports solid revenue growth, better margins

31st Mar 2009, 3:04 pm by Proactiveinvestors
China Energy Recovery reports solid revenue growth, better margins

China Energy Recovery, Inc. (OTCBB: CGYV), the industrial waste heat energy recovery specialist, reported record financial results for the fiscal year and fourth quarter ended December 31, 2008.

Revenues for 2008 increased by an impressive 95.6% to UD$23.18 million, while gross profit soared 138% to just over US$5 million.  Gross margins also improved, rising 3.9% to 21.9%, largely due to a change in the group’s sales mix towards higher margin business.  Operating income rose 110.6% to US$1.61 million, and included several exceptional items related to the company’s listing and financing expenses.  China Energy Recovery ended the financial year with approximately US$6.1 million in cash.


Chairman and CEO of China Energy Recovery, Inc., Qinghuan Wu, said the company continued to strengthen its position in the energy recovery systems market:


"In 2008, we continued to strengthen our leadership position in supplying superior energy recovery systems to the chemical and paper-making industries in China. Going public on an American exchange in 2008 helped us open a new era for the company and has helped increase the awareness for the company internationally. Though there will continue to be challenges in 2009 resulting from the global economic recession, we believe the company will continue to grow and capitalize on market opportunities created by the increasing demands for greater energy efficiency and global environmental protection initiatives.”

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