Qifeng New Material Co.,Ltd.’s Net Profit Dropped 77% in First Quarter of 2022

Qifeng New Material Co.,Ltd. (齐峰新材料股份有限公司) (002521.SZ) reported a net profit of 20.7 million yuan in the first quarter of 2022, down 77% year-on-year.

Meanwhile, the company posted 838.2 million yuan in revenue, down 5% year-on-year.

At the end of the reporting period, it had 4.9 billion yuan in total assets and 1.2 billion yuan in total liabilities, with a liability-to-asset ratio of 25.7%.