Daily Archives: December 28, 2017

Newater Technology, Inc. Announces Half Year 2017 Unaudited Financial Results

YANTAI, CHINA / ACCESSWIRE / December 28, 2017 / Newater Technology, Inc. (NASDAQ: NEWA) (“NEWA”, “we”, “our” or the “Company”), a developer and manufacturer of membrane filtration products and related hardware and engineered systems that are used in the treatment, recycling and discharge of wastewater, today announced its unaudited financial results for the half-year ended June 30, 2017.

Six Months Ended June 30, 2017 Financial Highlights (all comparisons to the six months ended June 30, 2016 unless noted)

  • Revenues increased by 50.61% from $4.78 million to $7.20 million, which resulted from: 1) growing demand for the Company’s products; and 2) an increase in both the number of customers and larger scale of projects.
  • Cost of goods sold increased by 84.14% from $2.87 million to $5.28 million due to 1) the 50.61% revenue growth; 2) new large complex projects which required more highly skilled engineers for installations and more time to complete projects.
  • Gross profit increased by 0.36% to $1.92 million compared to $1.91 million for the same period in 2016, while the gross profit margin was 26.67%, compared to 40.02% for the same period in 2016.
  • Operation costs increased by 30.68% from $1.37 million to $1.78 million, however, the percentage of operating costs compared to revenue decreased from 28.54% to 24.76%.
  • Operating income decreased from $0.55 million to $0.14 million.

“We are pleased with the progress we made in the first half of this year towards meeting our operational goals for 2017,” commented Mr. Yuebiao Li, the Company’s Chairman and Chief Executive Officer, “With the proceeds from our IPO, we are building an automatic DTRO (Disk Tube Reverse Osmosis) production line, which is scheduled be completed in 2018. Upon completion, we believe we will be at the forefront for DTRO automatic production lines in China, enabling us to be a leader of DTRO manufacturing in China.”

“We remain committed to innovation, research and development such as our new delivery method, which we implemented in 2017, of packing membrane filtration equipment in mobile containers resulting in benefits for our clients, including easy transportation and better protection of equipment as well as the improvement of equipment mobility, which we believe strengthens our competitive advantages.”

Operating Results for Six Months Ended June 30, 2017


We derive our revenues from product sales, such as sales of water purifying membranes and water purification equipment, and project sales (water purification installation projects). Revenues consist of the invoiced value for the sales, net of value-added tax (“VAT”), business tax, applicable local government levies, rebates, discounts and returns.

For the six months ended June 30, 2017, revenues increased by $2.42 million, or 50.61%, to $7.20 million from $4.78 million for the same period last year. This increase was mainly driven by the increase in both the number and size of the project and product sales.

Of the total ongoing projects as of June 30, 2017, three of them had sales over $0.73 million (RMB 5 million) compared to two as of June 30, 2016. We signed eight sales contracts with each contract over $0.73 million (RMB 5 million) for the six months ended June 30, 2017, versus five sales contracts with a value greater than $0.73 million (RMB 5 million) for the same period in 2016. Furthermore, the time to complete the installation of projects has increased from one to three months to six months due to the fact that the newer projects are larger and more complex.

Our project revenue recognition method is completed contract method. Revenue is only recognized after the project is completed and the contract is fulfilled. We had four ongoing projects with a total estimated gross revenue of $3.02 million and gross profit of $1.51 million as of June 30, 2017.

Cost of revenues

Cost of revenues consists primarily of direct raw materials, direct payroll of workshop staff, utility and supply costs consumed in the manufacturing process, manufacturing labor, depreciation expense and overhead expenses necessary to manufacture finished goods as well as distribution costs such as inbound freight charges.

Cost of revenues increased by $2.41million, or 84.14%, to $5.28 million for the six months ended June 30, 2017 from $2.87 million for the same period last year. As a percentage of revenues, cost of revenues was 73.33% for the six months ended June 30, 2017, compared to 59.98% for the same period last year. The increase in cost of revenues is directly linked to the 50.61% revenue growth, more highly skilled labors required for the installation and longer project delivery time for new large complex projects.

Gross profit and gross margin

Gross profit increased slightly by $0.01 million, or 0.36%, to $1.92 million for the six months ended June 30, 2017 from $1.91 million for the same period last year. However, gross margin decreased by 13.35 percentage points to 26.67% for the six months ended June 30, 2017 from 40.02% for the same period last year.

The decrease in gross margin was primarily due to the fact that more complex large projects were engaged for the six months ended June 30, 2017, which resulted in engaging more experts and requiring more time in equipment installation on-site.

Selling, general and administrative expenses

Selling, general and administrative expenses (“SG&A”) increased by $0.41 million, or 30.68%, to $1.78 million for the six months ended June 30, 2017 from $1.37 million for the same period last year.

Research and development expenses account for 66% of the increase in SG&A expenses, while the salary’s increase, including the bonus payment for the calendar year 2016 and the increase in the number of the new hires, accounts for the remaining increase in SG&A expenses.

Operating income and operating margin

Income from operations decreased by $0.41 million, or 74.95%, to $0.14 million for the six months ended June 30, 2017 from $0.55 million for the same period last year. Operating margin was 1.91% for the six months ended June 30, 2017, compared to 11.49% for the same period last year.

The decrease in operating income and operating margin mainly resulted from the higher cost of goods sold, which led to a decrease in gross margin.

Income Taxes

Provision for income taxes was $0.10 million for the six months ended June 30, 2017, a decrease of $0.06 million, or 37.23%, from $0.16 million for the same period of last year. We were entitled to a preferential enterprise income tax (“EIT”) rate of 15% in 2016 and 2017. The standard enterprise income tax rate in China is 25%.

Net Income

Net income was $0.02 million for the six months ended June 30, 2017, compared to 0.31 million for the same period last year. Earnings per basic and diluted share was $0.00, and $0.04 for the six months ended June 30, 2017, and June 30, 2016 respectively.

Financial Conditions

As of June 30, 2017, the Company had cash of $1.58 million, compared to $1.48 million at December 31, 2016. Total working capital was $7.47 million as of June 30, 2017, compared to $7.41 million at the end of 2016.

Net cash provided by operating activities was $1.18 million for the six months ended June 30, 2017, compared to net cash used of $2.79 million for the same period last year. Net cash used in investing activities was $0.32 million for the six months ended June 30, 2017, compared to net cash provided of $0.83 million for the same period last year. Net cash used in financing activities was $0.80 million for the six months ended June 30, 2017, compared to net cash provided of $2.33 million for the same period of last year.

About Newater Technology, Inc.

Founded in 2012 and headquartered in Yantai, China, Newater specializes in the development, manufacture and sale of DTRO (Disk Tube Reverse Osmosis) and DTNF (Disk Tube Nano-Filtration) membranes for waste water treatment, recycling and discharge. Newater provides integrated technical solutions in engineering support and installation, technical advice and services, and other project-related solutions to turn wastewater into valuable clean water.

The Company’s products can be used across a wide spectrum of industries, including:

– Leachate from landfills
– Wastewater from oil fields
– High acid wastewater
– Power plant waste water
– Wastewater from gas production
– Desalination

More information about the Company can be found at: www.newater.cc.


Rounding amounts and percentages: Certain amounts and percentages included in this press release have been rounded for ease of presentation. Percentage figures included in this press release have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding. For this reason, certain percentage amounts in this press release may vary from those obtained by performing the same calculations using the figures in the financial statements. In addition, certain other amounts that appear in this press release may not sum due to rounding.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may”, “will”, “intend”, “should”, “believe”, “expect”, “anticipate”, “project”, “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company’s statements regarding its continued growth, business outlook, and automatic production line are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the water filtration industry in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:


Zhuo Zhang CFO
Phone: +86 (535) 626-4177
Email: zhuozhang@newater.cc Investor Relations

Y. Tracy Tang CFA, CPA
Phone: +1 (646) 485-1040
Email: Tracy.tang@sino-UsInvestors.com


June 30,
December 31,
Current assets
Cash and cash equivalents
$ 1,577,394 $ 1,484,762
Restricted cash
551,875 1,439,926
Accounts receivable, net
1,927,426 2,637,236
Accounts receivable from related party, net
Notes receivable
10,407,051 4,840,234
Advances to suppliers and other current assets, net
1,918,015 2,528,411
Due from third party
Due from related parties
Total current assets
17,636,022 14,063,217
Property, plant and equipment, net
1,244,904 1,199,611
Land use right, net
2,169,638 2,143,002
Deferred tax assets
327,929 181,003
Other non-current assets
20,904 4,591
Total assets
$ 21,399,397 $ 17,591,424
Current liabilities
Accounts payable and bank acceptance notes to vendors
$ 3,774,736 $ 1,844,077
Short term loans
2,877,422 2,879,853
Due to related parties
Deferred income
26,561 25,919
Advances from customers
3,214,761 833,742
Income tax payables
349,860 329,212
Other current liabilities
255,052 210,400
Total current liabilities
10,498,392 6,838,202
Total liabilities
10,498,392 6,838,202
Shareholders’ equity
Common shares ($0.001 par value, 200,000,000 shares authorized, 9,199,000 shares issued and outstanding as of June 30, 2017 and December 31, 2016)
9,199 9,199
Additional paid-in capital
7,949,466 7,949,466
Statutory reserves
405,070 382,802
Retained earnings
2,954,448 2,960,698
Accumulated other comprehensive loss
(417,178 ) (548,943 )
Total shareholders’ equity
10,901,005 10,753,222
Total liabilities and shareholders’ equity
$ 21,399,397 $ 17,591,424


For The Six Months Ended June 30,
Net revenues
$ 7,204,431 $ 4,766,239
Net revenues from related parties
Total revenues
7,204,431 4,783,476
Cost of revenues
5,282,936 2,853,076
Cost of revenues from related parties
Total cost of revenues
5,282,936 2,868,953
Gross profit
1,921,495 1,914,523
Operating expenses:
Selling, general and administrative
1,783,836 1,365,091
Total operating expenses
1,783,836 1,365,091
Income from operations
137,659 549,432
Interest expense
80,512 94,621
Other income
(61,320 ) (19,560 )
Total other expense
19,192 75,061
Income before income taxes provisions
118,467 474,371
Income tax provisions
102,449 163,222
Net income
16,018 311,149
Other comprehensive income (loss)
Foreign currency translation adjustment
131,765 (98,036 )
Total comprehensive income
$ 147,783 $ 213,113
Earnings per common share
$ 0.00 $ 0.04
$ 0.00 $ 0.04
Weighted average common shares outstanding
8,767,738 8,333,200
8,767,738 8,333,200
For The Six Months Ended June 30,
Cash flows from operating activities
Net income
$ 16,018 $ 311,149
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization expense
93,854 64,820
Deferred income taxes
(140,423 )
Changes in operating assets and liabilities:
Accounts receivable, net
764,167 (3,505,445 )
Accounts receivable from related parties, net
1,071,858 3,054,075
Notes receivable
68,806 (53,554 )
(5,369,723 ) (1,343,912 )
Advances to suppliers and other current assets
439,396 (593,992 )
Advances to supplier – related party
(728,724 )
Due from related parties
691 1,826
Other non-current assets
(15,969 )
Accounts payable and bank acceptance notes to vendors
1,847,198 1,857,382
Accounts payable to related party
(1,105,024 )
Other current liabilities
58,437 (274,888 )
Advances from customers
2,326,919 266,395
Deferred income
(395,774 )
Due to related parties
(1,095 ) 6,358
Income tax payables
12,314 (355,690 )
Cash provided by (used in) operating activities
1,172,448 (2,794,998 )
Cash flows from investing activities
Purchases of property and equipment
(88,500 )
Cash advanced to related party
(252,636 )
Repayments from related parties
2,909 570,311
Net change in restricted cash
910,638 596,394
Cash advanced to others
(1,236,490 )
Cash provided by (used in) investing activities
(322,943 ) 825,569
Cash flows from financing activities
Proceeds from issuances of common shares
Capital contribution from shareholders
Capital distribution in connection with acquisition of a subsidiary
(4,418,425 )
Borrowings from related parties
Repayment to related parties
(721,237 ) (3,405,928 )
Borrowings from third parties
1,672,898 3,847,000
Repayment to third parties
(1,745,632 ) (2,448,205 )
Cash provided by (used in) financing activities
(793,971 ) 2,334,527
Effect of foreign exchange rate changes on cash and cash equivalents
37,098 50,141
Net increase in cash and cash equivalents
92,632 415,239
Cash and cash equivalents, beginning of the period
1,484,762 135,152
Cash and cash equivalents, end of the period
$ 1,577,394 $ 550,391
Supplemental cash flow information
Cash paid for interest
$ 80,695 $ 21,993
Cash paid for income taxes
$ 230,558 $ 517,118
Non-cash investing and financing activities:
Stock issued for debt conversion
$ $ 3,847,000

SOURCE: Newater Technology, Inc.

‫عبر مبادرات وفعاليات تعزِّز بناء مجتمعات المعرفة

مؤسَّسة محمد بن راشد آل مكتوم للمعرفة ترسِّخ مكانتها كرائدة في إنتاج ونقل المعرفة عالمياً

دبي،  2017: تمكَّنت مؤسَّسة محمد بن راشد آل مكتوم للمعرفة، العضو في مبادرات محمد بن راشد  آل مكتوم العالمية، من ترسيخ مكانتها كواحدةٍ من أهمِّ المؤسَّسات التي تعمل على نقل ونشر وإنتاج المعرفة في المنطقة والعالم، وذلك عبر إطلاق سلسة من المبادارت المبتكَرة خلال العام 2017، والتي أسهمت في تفعيل الحراك المعرفي، وابتكار أساليب وأدوات جديدة لقياس المعرفة ووضع الآليات وصياغة المقترحات التي تسهم في الارتقاء بها في جميع أنحاء العالم.

http://photos.prnewswire.com/prnh/20151123/290068LOGO )
http://mma.prnewswire.com/media/623286/Mohammed_bin_Rashid_Al_Maktoum_Knowledge_Foundation.jpg )

ويأتي إطلاقُ المؤسَّسة مؤشِّرَ المعرفة العالمي، الأول من نوعه على مستوى العالم، وضمن شراكتها الاستراتيجية مع برنامج الأمم المتحدة الإنمائي، ومشروع المعرفة العربي، ضمن أبرز وأهم المبادرات العالمية، حيث أبرز المؤشِّرُ المعرفةَ كمفهومٍ شاملٍ في مختلف جوانب الحياة الإنسانية والأنشطة الاجتماعية والاقتصادية والثقافية، والدور الرئيس الذي تلعبه في تحقيق التنمية الإنسانية الشاملة والمستدامة.

الإعلان عن نتائج المؤشِّر، الذي شمل بيانات 131دولة من جميع مناطق العالم، جاء خلال فعاليات “قمة المعرفة 2017” التي نظَّمتها المؤسَّسة تحت شعار “المعرفة.. والثورة الصناعية الرابعة” والتي حرصت على فتح آفاق عالمية جديدة تقوم على الحث على الاستثمار الأمثل لتقنيات الذكاء الاصطناعي والثورة الصناعية الرابعة، لتعزيز المعرفة وتحفيز  إنتاجها لبناء مجتمعات المعرفة عالمياً.

وفي سعيها لتعزيز المعرفة على المستويين العربي والعالمي، أطلقت المؤسَّسة خلال فعاليات قمَّة المعرفة 2017 مبادرة “تحدي الأمية في الوطن العربي” والتي تهدف إلى تزويد الناس بالمهارات والمعارف اللازمة استجابة للتحديات المتزايدة للتقنيات الجديدة وعصر المعلومات، وذلك بهدف توفير حقِّ التعليم لـ “30 مليون عربي” دون سنِّ الثامنة عشرة بحلول عام 2030 في الوطن العربي.

كما نظَّمت المؤسَّسة، للعام الثالث على التوالي، “متحف نوبل 2017” في دبي تحت شعار “جائزة نوبل في الفيزياء.. لنفهم خصائص المادة” كأوَّل  جهة عربية تنظِّم هذا الحدث المعرفي والمرموق على مستوى العالم، والذي يأتي في أعقاب توقيع المؤسَّسة اتفاقية شراكة حصرية مع مؤسَّسة نوبل العالمية.

وضمن جهودها الرامية إلى تعزيز مسارات نشر وإنتاج المعرفة في المنطقة والعالم، أعلنت المؤسَّسة عن إطلاق منصة مسموع دوت كوم “masmoou.com” المشروع الأكبر على مستوى المنطقة للكتب الصوتية من خلال “قنديل التعليمية” – الذراع التعليمية للمؤسَّسة –  لتقديم مجموعة ضخمة من الكتب الإلكترونية المسموعة في شتى المجالات وبجميع اللغات.

ولتأكيد دورها المجتمعي والإسهام بتنفيذ توجيهات القيادة الرشيدة التي تدعم أصحاب الهمم، أطلقت المؤسَّسة  كتب “قوانين الألعاب البارالمبية” باللغة العربية والموجهة لفئة أصحاب الهمم، وذلك من خلال اتفاقية الشَّراكة التي وقَّعتها مع اللجنة البارالمبية الدولية، وبالتعاون مع نادي دبي لأصحاب الهمم.

وحقَّق وسم مبادرة بالعربي، التي أطلقتها مؤسَّسة محمد بن راشد آل مكتوم للمعرفة في عامها الخامس، انتشاراً وتفاعلاً واسعاً جداً من روَّاد مواقع التواصل الاجتماعي على مستوى دول العالم، حيث تجاوز الوسم  مليارين و14 مليون مشاهدة وتفاعل، وذلك بالتزامن مع الفعاليات التي نظَّمتها المؤسَّسة ضمن المبادرة  للاحتفاء باليوم العالمي للغة العربية الذي حدَّدته الأمم المتحدة في الثامن عشر من ديسمبر كلَّ عام، وبهدف تعزيز مكانة اللغة العربية بين لغات العالم، والحثِّ على استخدامها للتواصل في قنوات الإعلام الاجتماعي والمحافظة عليها.

trade.io Partners with Bancor Protocol to Provide Continuous Liquidity to Token Holders

ZUG, Switzerland, December 28, 2017/PRNewswire/ —trade.io, a next generation blockchain based financial exchange, continues to add to its impressive list of partnerships by announcing plans to integrate Bancor Protocol, a standard for autonomously convertible blockchain cryptocurrencies called Smart Tokens.https://prnewswire2-a.akamaihd.net/p/1893751/sp/189375100/thumbnail/entry_id/0_wnv4e4ob/def_height/400/def_width/400/version/100012/type/1

(Logo: http://mma.prnewswire.com/media/592785/trade_io_Logo.jpg )

The integration allows the trade.io ERC20 token known as Trade Token or “TIO”, to be converted to and from Ethereum ERC20 tokens in the Bancor Network directly from a simple web application. The creation of a Bancor-compliant Token Relay will take place shortly after the conclusion of trade.io‘s token sale and will allocate 2% – 5% of total market cap. You can join the trade.io community here.

On the relationship, trade.io‘s CEO, Jim Preissler commented, “We continue to deliver to the trade.io community unique value added propositions, and see this relationship with Bancor as a further example. We already have generated a large demand for our community and it’s only logical to provide a simple way to convert tokens.

trade.io is currently in the midst of its token generation event and has received nearly $20 million in contributions from over 10,000 participants. Earlier this year the Bancor Protocol attracted $153 million in contributions, making it one of the most successful token generation event launches to date.

Visit https://trade.io/bancor for further information and to read the trade.io White Paper.

About trade.io:

trade.io democratizes the financial markets and saves money for investors and companies through reducing and eliminating fees and inefficiencies by utilizing its innovative Blockchain trading platform. Disrupting a whole ecosystem of banks, advisors, markets, and record keepers which are extracting fees and can be disintermediated and commoditised by more efficient peer-to-peer Blockchain platforms. The trade.io exchange not only supports trading of assets, but supports a more efficient listing of assets in the crypto economy under the indelible and trusted history that Blockchain provides. The company couples these operational assets with investment banking experience, senior advisory expertise, as well as operating their system in a regulated and compliant environment.

About Bancor:

Bancor Protocol™ is a standard for the creation of Smart Tokens™, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “Connector” method to enable formulaic price calculation and continuous liquidity for all compliant tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. For more information, visit the website and read the Bancor Protocol™ White paper.
Source: Trade.io