Ningbo Water Meter Co.,Ltd.’s Net Profit Dropped 86.2% in First Quarter of 2022

Ningbo Water Meter Co.,Ltd. (宁波水表(集团)股份有限公司) (603700.SH) reported a net profit of 5.8 million yuan in the first quarter of 2022, down 86.2% year-on-year.

Meanwhile, the company posted 244.4 million yuan in revenue, down 13.5% year-on-year.

At the end of the reporting period, it had 2.1 billion yuan in total assets and 511.6 million yuan in total liabilities, with a liability-to-asset ratio of 24.2%.