Jiangsu Rainbow Heavy Industries Co.,Ltd.’s Net Profit Dropped 42.6% in First Quarter of 2022

Jiangsu Rainbow Heavy Industries Co.,Ltd. (江苏润邦重工股份有限公司) (002483.SZ) reported a net profit of 57.3 million yuan in the first quarter of 2022, down 42.6% year-on-year.

Meanwhile, the company posted 898.3 million yuan in revenue, up 3.5% year-on-year.

At the end of the reporting period, it had 9 billion yuan in total assets and 4.6 billion yuan in total liabilities, with a liability-to-asset ratio of 51%.