Shanghai Step Electric Corporation Posted 19.1 Million Yuan Net Loss in First Quarter of 2022

Shanghai Step Electric Corporation (上海新时达电气股份有限公司) (002527.SZ) reported a net loss of 19.1 million yuan in the first quarter of 2022, reversing a net profit of 32.2 million yuan for the same period in the previous year.

Meanwhile, the company posted 817.6 million yuan in revenue, down 8.7% year-on-year.

At the end of the reporting period, it had 6.3 billion yuan in total assets and 2.6 billion yuan in total liabilities, with a liability-to-asset ratio of 42%.