Red Avenue New Materials Group Co.,Ltd.’s Net Profit Dropped 53.5% in First Quarter of 2022

Red Avenue New Materials Group Co.,Ltd. (彤程新材料集团股份有限公司) (603650.SH) reported a net profit of 68.6 million yuan in the first quarter of 2022, down 53.5% year-on-year.

Meanwhile, the company posted 572 million yuan in revenue, down 0.4% year-on-year.

At the end of the reporting period, it had 6.3 billion yuan in total assets and 3.4 billion yuan in total liabilities, with a liability-to-asset ratio of 53.7%.