HONG KONG, Feb 9, 2017 - (ACN Newswire) - Northern New Energy Holdings Limited ("Northern New Energy" / the "Group;" stock code: 8246) has today announced a positive profit alert.
Based on information currently available, Northern New Energy is expected to record a substantial increase in the net profit for the year ended 31 December 2016, mainly attributable to (i) a substantial increase in total revenue and resulting profit of the Group mainly generated by the Group's new energy business; and (ii) a decrease in the unaudited consolidated loss attributable to the Group's catering business as a result of effective cost reduction and control measures plus having adopted an optimized business model.
About Northern New Energy Holdings Limited
Northern New Energy Holdings Limited ("Northern New Energy") formerly known as Noble House (China) Holdings Limited, is a company listed on the GEM Board of the Hong Kong Stock Exchange since 2011 (stock code: 8246). In 2015, the Group has established a joint venture company Hua Xia Northern New Energy Technology Development (Tianjin) Limited with an independent third party, and began its business in the development of new energy, R&D of related technologies and construction engineering. The Group is also engaged in the operation of restaurants, provision of management services, and sale of processed food. In 2015, the Group has further diversified its business into property investment.
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Feb 9, 2017 18:55 HKT/SGT
Source: Northern New Energy Holdings Limited
Topic: Press release summary
Sectors: Daily Finance, Energy, Daily News
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