Shandong Molong Petroleum Machinery Co.,Ltd. Posted 70.8 Million Yuan Net Loss in First Quarter of 2022

Shandong Molong Petroleum Machinery Co.,Ltd. (山东墨龙石油机械股份有限公司) (002490.SZ) reported a net loss of 70.8 million yuan in the first quarter of 2022, narrowing 40% year-on-year.

Meanwhile, the company posted 560.9 million yuan in revenue, up 3.1% year-on-year.

At the end of the reporting period, it had 4.9 billion yuan in total assets and 3.6 billion yuan in total liabilities, with a liability-to-asset ratio of 73.9%.