Sieyuan Electric Co.,Ltd.’s Net Profit Dropped 47.4% in First Quarter of 2022

Sieyuan Electric Co.,Ltd. (思源电气股份有限公司) (002028.SZ) reported a net profit of 160.5 million yuan in the first quarter of 2022, down 47.4% year-on-year.

Meanwhile, the company posted 1.7 billion yuan in revenue, down 4% year-on-year.

At the end of the reporting period, it had 13.5 billion yuan in total assets and 4.8 billion yuan in total liabilities, with a liability-to-asset ratio of 35.4%.