Zhejiang Canaan Technology Limited’s Net Profit Rose 32.6% in First Quarter of 2022

Zhejiang Canaan Technology Limited (浙江迦南科技股份有限公司) (300412.SZ) reported a net profit of 18.3 million yuan in the first quarter of 2022, up 32.6% year-on-year.

Meanwhile, the company posted 210.2 million yuan in revenue, up 25.1% year-on-year.

At the end of the reporting period, it had 2.3 billion yuan in total assets and 1.1 billion yuan in total liabilities, with a liability-to-asset ratio of 47.8%.