Boer Power Holdings Limited announced unaudited earnings results for the six months ended June 30, 2018. Revenue from sales of Energy Efficiency Solutions increased by 36.7% year-on-year to approximately RMB 128.0 million which represented 32.9% of total revenue. Excluding the effect of a one-off substantial impairment provision for trade and other receivables, of which revenue was recognized before 2016, the adjusted operating profit and the adjusted profit before taxation improved significantly by 79.6% and 353.3% year-on-year to RMB 60.366 million, and RMB 34.629 million respectively. The operating cash flow has significantly increased to RMB 135 million.

In the second half of 2018, the Group will continue to focus on restoring sales scale and optimizing sales structure to increase the proportion of high-margin projects, and continuously strengthen the internal control and collection of accounts receivable; the production costs and management fee will be continuously reduced through refined management, and the financial costs can be reduced by asset structure optimization, therefore the Group is expected to further improve the profitability to expand the profits and create greater value for shareholders.