China Energy Recovery, Inc. (OTCBB: CGYV) has released an announcement yesterday, October 6, 2008, just to show how much potential they have. Apparently the company's contracts for the nine months ended 2008 has reached approximately $19 million. This figure is not only impressive but also shows significant growth. China Energy had only $16 million in sales over the whole 2007. CER Chairman and CEO, Mr. Qinghuan Wu, was pleased with the company's performance: "We're very pleased to see the significant growth CER has enjoyed through the first three quarters of 2008, and are looking forward to what looks to be shaping up to be a robust fourth quarter. Our systems are now operating in facilities reaching from Korea to Egypt, from Vietnam to Pakistan and throughout China. New systems will soon be operating in Malaysia, Turkey and as far away as Papua New Guinea. We're very pleased with the growth in both our domestic and foreign sales and look forward to expanding those efforts as we look to further develop all of our markets in 2009 and beyond."
The numbers given in a press release are just contract values and not yet real sales so there might be slight variation in the final outcome at the end of the year. However the fact that the company has these contracts makes this a stock really worthwhile to follow.
In our opinion, this stock is currently lacking attention from investors due to the lack of information, and therefore the share price suffers from selling pressure and low trading volumes. This press release proves that the company is trying very hard to get noticed by the public. Their fundamentals are getting better each quarter and their current contracts are the factor that's going to support further growth in revenues. This stock should recover ones it will be clear to the masses that the company is doing good.
References:
http://sec.gov/Archives/edgar/data/1208790/000114420408047071/v123536_10q.htm
http://www.chinaenergyrecovery.com/s/Home.asp
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