Smart Powerr Stock Price, News & Analysis

China Recycling Energy Corp. (NASDAQ: CREG) announced an Equity Acquisition Agreement with Xi’an Taiying Energy Saving Technology Co., Ltd. to acquire 100% ownership of Taiying, enhancing CREG's capabilities in energy storage and power battery production. The deal, involving cash and shares, positions CREG to leverage Taiying’s advanced technology and extensive market contracts valued at nearly RMB 1 billion (over USD 150 million). This acquisition aims to optimize resource allocation and reduce costs while tapping into the growing energy storage market, aligning with CREG's strategic vision.

China Recycling Energy Corporation (NASDAQ: CREG) reported operating results for Q3 2020, highlighting a significant reduction in net loss, which narrowed by approximately 83.6% to $671,280 from $4.1 million in Q3 2019. As of September 30, 2020, the company maintained healthy cash reserves of approximately $73.8 million, an increase of $57.6 million from December 2019. Despite net sales remaining unchanged, the company is focused on cost-cutting initiatives and expects to return to profitability in FY 2020, driven by anticipated sales growth and strategic opportunities in the smart power sector.

China Recycling Energy Corporation (NASDAQ: CREG) announced its participation in the 2020 China International Energy Storage Conference (CIES Conference) from September 24-26, 2020, in Shenzhen, China. Key executives, including the Chairman, CEO, and Technical Director, will attend this significant event, which is organized by the China Industrial Association of Power Sources. The conference aims to bring together over 1,000 attendees and features 130 seminars discussing new trends in energy storage. CREG is focused on providing waste-to-energy solutions, benefiting from China's push for recycling technologies.

China Recycling Energy Corporation (NASDAQ: CREG) held a significant meeting with Contemporary Amperex Technology Company Limited (CATL), focusing on potential collaboration in the energy storage sector. CATL, a leader in electric vehicle batteries, highlighted its growth during the COVID-19 pandemic and expressed interest in working globally with CREG. The meeting emphasized a shared vision for addressing market demands, aiming to enhance energy solutions. CREG is dedicated to environmentally friendly waste-to-energy technologies, aligning with China's push for recycling and pollution reduction.

China Recycling Energy Corporation (NASDAQ: CREG) reported its Q2 2020 results, highlighting a strong cash position of approximately $62.7 million, up from $16.2 million at the end of 2019. The company collected about $2.8 million from overdue accounts and achieved a net income of $993,940 or $0.43 per share, compared to a net loss of $5.3 million in Q2 2019. Despite nil sales due to COVID-19 disruptions, CREG aims to pivot towards the smart power sector and maintain cost discipline to leverage growth opportunities.

China Recycling Energy Corporation (NASDAQ: CREG) reported significant operational highlights for Q1 2020. As of March 31, 2020, the company maintained a cash balance of approximately $55.0 million, up from $16.2 million at the end of 2019. The net loss was narrowed by approximately 69.2% to $(0.6) million, compared to $(1.9) million in Q1 2019. Despite facing business shutdowns due to the COVID-19 pandemic, operating expenses dramatically decreased by 94% to $154,178. CREG aims to leverage financial flexibility to explore growth opportunities in the smart power sector.

China Recycling Energy Corporation (CREG) has announced its compliance with Nasdaq's minimum bid price requirement. This follows a notification from Nasdaq confirming that CREG's stock had a closing bid price of at least $1.00 per share for 10 consecutive business days, from April 15 to April 28, 2020. With this compliance, the matter is now closed, allowing the company to focus on its operations in providing environmentally friendly waste-to-energy solutions in China.