Wenzhou Hongfeng Electrical Alloy Co.,Ltd.’s Net Profit Dropped 34.3% in First Quarter of 2022

Wenzhou Hongfeng Electrical Alloy Co.,Ltd. (温州宏丰电工合金股份有限公司) (300283.SZ) reported a net profit of 7.1 million yuan in the first quarter of 2022, down 34.3% year-on-year.

Meanwhile, the company posted 476 million yuan in revenue, down 9.8% year-on-year.

At the end of the reporting period, it had 2.3 billion yuan in total assets and 1.4 billion yuan in total liabilities, with a liability-to-asset ratio of 58.5%.