Shanghai Mechanical And Electrical Industry Co.,Ltd.’s Net Profit Dropped 27.7% in First Quarter of 2022

Shanghai Mechanical And Electrical Industry Co.,Ltd. (上海机电股份有限公司) (600835.SH) reported a net profit of 278 million yuan in the first quarter of 2022, down 27.7% year-on-year.

Meanwhile, the company posted 4 billion yuan in revenue, down 15% year-on-year.

At the end of the reporting period, it had 37.6 billion yuan in total assets and 22.7 billion yuan in total liabilities, with a liability-to-asset ratio of 60.4%.