Triangle Tyre Co.,Ltd.’s Net Profit Dropped 69.9% in First Quarter of 2022

Triangle Tyre Co.,Ltd. (三角轮胎股份有限公司) (601163.SH) reported a net profit of 58.2 million yuan in the first quarter of 2022, down 69.9% year-on-year.

Meanwhile, the company posted 1.9 billion yuan in revenue, down 18.5% year-on-year.

At the end of the reporting period, it had 16.7 billion yuan in total assets and 5.5 billion yuan in total liabilities, with a liability-to-asset ratio of 33%.