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SXT Eyes Energy Storage for Renewables

SXT Energy Group, Inc. (XTEG) is a China-based holding company that engages in the compressed air energy storage field, primarily in China. It has a variety of energy-related businesses, notes David Fried, editor of The Buyback Letter.

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Through subsidiaries, it installs power generation systems that use its proprietary compressed air energy storage power generation technology that can store energy by using solar, wind, geothermal and tidal to regenerate electricity without the use of fossil fuels. It also manufactures and sells photovoltaic (PV) panels.

The company is also engaged in the manufacture and sales of air compression equipment and heat pump products, high-grade synthetic fuel, as well as hydraulic parts and electronic components. These products go to the domestic and overseas markets. It was founded in 2008 and has 293 employees.  

Q2 earnings were: total revenue of USD $21.913 million (compared to USD $232.243 a year ago), operating income of USD $2.896 million (compared to operating loss of USD $668,687 a year ago). Net income was USD $1.617 million compared to net loss of USD $668,986 a year ago.

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For the half year, total revenue was USD $41.901 million compared to USD $587,437 a year ago. Operating income was USD $5.438 million compared to operating loss of USD $1.517 million a year ago.

Net income was USD $2.993 million compared to net loss of USD $1.524 million a year ago. Shares outstanding have been reduced by 10.152% in the last 12 months.