Xiamen Hongxin Electron-Tech Co.,Ltd. Posted 34.7 Million Yuan Net Loss in First Quarter of 2022

Xiamen Hongxin Electron-Tech Co.,Ltd. (厦门弘信电子科技集团股份有限公司) (300657.SZ) reported a net loss of 34.7 million yuan in the first quarter of 2022, reversing a net profit of 19.3 million yuan for the same period in the previous year.

Meanwhile, the company posted 776.9 million yuan in revenue, up 2.2% year-on-year.

At the end of the reporting period, it had 4.8 billion yuan in total assets and 3.1 billion yuan in total liabilities, with a liability-to-asset ratio of 65.5%.