Gansu Jiu Steel Group Hongxing Iron&Steel Co.,Ltd.’s Net Profit Dropped 97.7% in First Quarter of 2022

Gansu Jiu Steel Group Hongxing Iron&Steel Co.,Ltd. (甘肃酒钢集团宏兴钢铁股份有限公司) (600307.SH) reported a net profit of 10.9 million yuan in the first quarter of 2022, down 97.7% year-on-year.

Meanwhile, the company posted 11 billion yuan in revenue, up 5.1% year-on-year.

At the end of the reporting period, it had 42.3 billion yuan in total assets and 28.4 billion yuan in total liabilities, with a liability-to-asset ratio of 67.3%.