Hangzhou Zhongheng Electric Co.,Ltd.’s Net Profit Dropped 65.8% in First Quarter of 2022

Hangzhou Zhongheng Electric Co.,Ltd. (杭州中恒电气股份有限公司) (002364.SZ) reported a net profit of 5.8 million yuan in the first quarter of 2022, down 65.8% year-on-year.

Meanwhile, the company posted 253 million yuan in revenue, up 7% year-on-year.

At the end of the reporting period, it had 3.4 billion yuan in total assets and 1 billion yuan in total liabilities, with a liability-to-asset ratio of 30.1%.