Newater Technology, Inc. (NASDAQ:NEWA) announces its financial results for the year ended December 31, 2019

Newater Technology, Inc. (NASDAQ:NEWA) rose 1.41% or 0.04 points on Friday and advanced into the gainers of the day. In the wake of exchanging started at $2.47 the stock was seen hitting $2.53 as a pinnacle level and $2.47 as the least level. The stock wound up at $2.53. The daily volume was valued at 7,003 shares.

The organization has a market top of $ 26.89 million. On August 13, 2019, the shares registered one year high at $6.95 and the one-year low was seen on March 24, 2020. The 50-Day Moving Average price is $2.35, and the 200 Day Moving Average price is recorded at $4.21.

Newater Technology, Inc. (NASDAQ:NEWA) reported that revenues diminished by 20% from $47 million to $37.6 million in 2019, the abatement in revenues for the year finished December 31, 2019 was mostly due to in 2017-2018, the income of Laixi activity venture represented an enormous extent of the entire year’s income. In 2019, there was no such activity venture that created as much revenue. Cost of revenues diminished by 17% from $26 million to $21.7 million of every 2019, the abatement in cost of incomes legitimately related to the decline in income during that year.

Overall gain diminished by 40% from $7.2 million to $4.3 million out of 2019, and the net revenue in 2019 was 11.48%. Net benefit diminished by 24% from $20.9 million to $15.9 million of every 2019, while the gross net revenue was 42% in 2019.

Total assets expanded by 26% from $62 million to $78 million out of 2019 primarily determined by the new creation office and creation line finished during the year. Fundamental EPS was $0.40 in 2019, contrasted with $0.67 in 2018 and $0.26 in 2017.

Newater offers integrated technical solutions in engineering support and installation, technical advice and services, and, and other project-related solutions to turn wastewater into valuable clean water. Newater also provides wastewater treatment services, such as landfill leachate treatment and purification services.

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