Hainan Development Holdings Nanhai Co.,Ltd. Posted 57.4 Million Yuan Net Loss in First Quarter of 2022

Hainan Development Holdings Nanhai Co.,Ltd. (海控南海发展股份有限公司) (002163.SZ) reported a net loss of 57.4 million yuan in the first quarter of 2022, reversing a net profit of 47.1 million yuan for the same period in the previous year.

Meanwhile, the company posted 527.6 million yuan in revenue, down 27.4% year-on-year.

At the end of the reporting period, it had 5.5 billion yuan in total assets and 4.4 billion yuan in total liabilities, with a liability-to-asset ratio of 80.9%.