Tech-Bank Food Co.,Ltd. Posted 671.2 Million Yuan Net Loss in First Quarter of 2022

Tech-Bank Food Co.,Ltd. (天邦食品股份有限公司) (002124.SZ) reported a net loss of 671.2 million yuan in the first quarter of 2022, reversing a net profit of 195.8 million yuan for the same period in the previous year.

Meanwhile, the company posted 1.6 billion yuan in revenue, down 51.9% year-on-year.

At the end of the reporting period, it had 18.6 billion yuan in total assets and 15.6 billion yuan in total liabilities, with a liability-to-asset ratio of 83.7%.