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China Recycling Energy Q1 Loss Narrows - Quick Facts

China Recycling Energy Corp. (CREG) reported that its first-quarter net loss attributable to the company narrowed to $598,551 or $0.28 per share from $1.94 million or $1.61 per share last year.

Operating expenses were $154,178 compared to $2.70 million in the prior year. The decrease was mainly due to decreased bad debts expense by $108,396, decreased operating expense by $1.10 million of Erdos TCH due to cease of the operation, and decreased loss on disposal of systems by $1.26 million.

Net sales were nil as compared to $0.6 million for the same period of 2019 due to the shutdown of business during the COVID-19 pandemic.

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