Qingdao Tianneng Heavy Industries Co.,Ltd.’s Net Profit Dropped 69.6% in First Quarter of 2022

Qingdao Tianneng Heavy Industries Co.,Ltd. (青岛天能重工股份有限公司) (300569.SZ) reported a net profit of 28 million yuan in the first quarter of 2022, down 69.6% year-on-year.

Meanwhile, the company posted 435.2 million yuan in revenue, up 25% year-on-year.

At the end of the reporting period, it had 9.4 billion yuan in total assets and 5.4 billion yuan in total liabilities, with a liability-to-asset ratio of 57.9%.