Hangzhou Hopechart Iot Technology Co.,Ltd. Posted 16 Million Yuan Net Loss in First Quarter of 2022

Hangzhou Hopechart Iot Technology Co.,Ltd. (杭州鸿泉物联网技术股份有限公司) (688288.SH) reported a net loss of 16 million yuan in the first quarter of 2022, reversing a net profit of 20.9 million yuan for the same period in the previous year.

Meanwhile, the company posted 69.1 million yuan in revenue, down 48.7% year-on-year.

At the end of the reporting period, it had 1.1 billion yuan in total assets and 159.9 million yuan in total liabilities, with a liability-to-asset ratio of 15.1%.