Chongqing Zongshen Power Machinery Co.,Ltd.’s Net Profit Dropped 20.1% in First Quarter of 2022

Chongqing Zongshen Power Machinery Co.,Ltd. (重庆宗申动力机械股份有限公司) (001696.SZ) reported a net profit of 112 million yuan in the first quarter of 2022, down 20.1% year-on-year.

Meanwhile, the company posted 2.3 billion yuan in revenue, up 3% year-on-year.

At the end of the reporting period, it had 10.1 billion yuan in total assets and 5.1 billion yuan in total liabilities, with a liability-to-asset ratio of 50%.