China Shipbuilding Industry Company Limited’s Net Profit Dropped 79% in First Quarter of 2022

China Shipbuilding Industry Company Limited (中国船舶重工股份有限公司) (601989.SH) reported a net profit of 42.1 million yuan in the first quarter of 2022, down 79% year-on-year.

Meanwhile, the company posted 6.1 billion yuan in revenue, down 14.2% year-on-year.

At the end of the reporting period, it had 184.2 billion yuan in total assets and 98.1 billion yuan in total liabilities, with a liability-to-asset ratio of 53.2%.