Ningbo Gaofa Automotive Control System Co.,Ltd.’s Net Profit Dropped 12.3% in First Quarter of 2022

Ningbo Gaofa Automotive Control System Co.,Ltd. (宁波高发汽车控制系统股份有限公司) (603788.SH) reported a net profit of 37.8 million yuan in the first quarter of 2022, down 12.3% year-on-year.

Meanwhile, the company posted 243.3 million yuan in revenue, up 11.8% year-on-year.

At the end of the reporting period, it had 2.2 billion yuan in total assets and 261 million yuan in total liabilities, with a liability-to-asset ratio of 11.7%.