Xinxing Ductile Iron Pipes Co.,Ltd.’s Net Profit Rose 18.8% in First Quarter of 2022

Xinxing Ductile Iron Pipes Co.,Ltd. (新兴铸管股份有限公司) (000778.SZ) reported a net profit of 640.8 million yuan in the first quarter of 2022, up 18.8% year-on-year.

Meanwhile, the company posted 13 billion yuan in revenue, down 2% year-on-year.

At the end of the reporting period, it had 54.8 billion yuan in total assets and 27.8 billion yuan in total liabilities, with a liability-to-asset ratio of 50.8%.