China becomes cleaner and cleaner for having successful recycling companies. Today China Recycling Energy Corporation (NASDAQ: CREG) soars more than 40% on over 15 million shares after reporting Q2 financial results.
CREG informs that cash and cash equivalents increased approximately $46.5 million as compared to approximately $16.2 million as of December 31, 2019. That’s awesome for negative 12 months EPS stock.
However, sales fell by $80,924 as compared to the same period of 2019 because of the COVID-19 shutdown while China was under strict lockdown for several months.
Net income was $993,940 or $0.43 per fully diluted share compared for Q2 2019’s $5.3 million loss or $(0.33).
Overall, CREG has good news to jump higher after the long flat price movement.