Fujian Torch Electron Technology Co.,Ltd.’s Net Profit Dropped 24.6% in First Quarter of 2022

Fujian Torch Electron Technology Co.,Ltd. (福建火炬电子科技股份有限公司) (603678.SH) reported a net profit of 196.8 million yuan in the first quarter of 2022, down 24.6% year-on-year.

Meanwhile, the company posted 842.9 million yuan in revenue, down 26.9% year-on-year.

At the end of the reporting period, it had 7.3 billion yuan in total assets and 2.2 billion yuan in total liabilities, with a liability-to-asset ratio of 30.9%.