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Changfeng Energy (TSXV:CFY) announced results for the quarter ended June 30, 2015

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The company reported sales of $13.7 million for the 3rd quarter ended June 30, 2015, an increase of 27% compared to the $10.8 million reported in the 3rd quarter of 2014. Net income for the quarter ended June 30, 2015 was $1.9 million, or $0.03 per share (basic and diluted) compared to $600,000 or $0.01 per share (basic and diluted) for the same period in 2014.

Additional Information:

Company: Changfeng Energy
Website: http://www.changfengenergy.com/cfy/pages/landing/
Stock Symbol: TSXV: CFY
Date Published: Aug 26, 2015
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Changfeng Energy (TSXV:CFY) announced results for the quarter ended June 30, 2015

The company reported sales of $13.7 million for the 3rd quarter ended June 30, 2015, an increase of 27% compared to the $10.8 million reported in the 3rd quarter of 2014.

Net income for the quarter ended June 30, 2015 was $1.9 million, or $0.03 per share (basic and diluted) compared to $600,000 or $0.01 per share (basic and diluted) for the same period in 2014.

Toronto-based Changfeng Energy Inc. is a natural gas service provider with operations located throughout the southern part of the People's Republic of China.

Changfeng Energy’s primary operation is its modern and extensive natural gas distribution utility business which is based in Sanya City, Hainan Province, where the company has 30-year (2007-2037) exclusive concession rights to deliver and sell natural gas to all residential and commercial clients both for heating purposes and fuel for transportation.

Sanya City, known as “China’s Hawaii” is China's most southern province and the only tropical tourist destination in China.

In 2009, The People’s Republic of China Central Government put forth a major development plan to have all of Hainan Province transformed into a major international tourist destination by the year 2020.

As a result, massive construction of resort hotels and residential condominiums are currently under way throughout Sanya City,

Changfeng Energy’s secondary operation is its fully operational compressed natural gas refueling retail station which is located in Changsha City, the Capital City of Hunan Province, where the company has an option to construct an additional six more stations.

The company will finance the majority of the upcoming construction of projects under development in mainland China through its long-term bank loans, as well as operating cash flow from its existing operations.

Changfeng Energy currently trades at $0.34, and with 63.1 million shares outstanding, the company is capitalized at $21.5 million.

For more information, please visit the company’s website www.changfengenergy.com or contact Ann Lin, VP Corporate Development at 905-762-1441 or email ann@changfengenergy.com.

I’m Samantha Deutscher for Investmentpitch Media