Ming Yang Smart Energy Group Limited’s Net Profit Rose 417.1% in First Quarter of 2022

Ming Yang Smart Energy Group Limited (明阳智慧能源集团股份公司) (601615.SH) reported a net profit of 1.4 billion yuan in the first quarter of 2022, up 417.1% year-on-year.

Meanwhile, the company posted 7.1 billion yuan in revenue, up 63.4% year-on-year.

At the end of the reporting period, it had 60.9 billion yuan in total assets and 39 billion yuan in total liabilities, with a liability-to-asset ratio of 64%.