Xiangyang Automobile Bearing Co.,Ltd. Posted 28.1 Million Yuan Net Loss in First Quarter of 2022

Xiangyang Automobile Bearing Co.,Ltd. (襄阳汽车轴承股份有限公司) (000678.SZ) reported a net loss of 28.1 million yuan in the first quarter of 2022, reversing a net profit of 5.3 million yuan for the same period in the previous year.

Meanwhile, the company posted 295.8 million yuan in revenue, down 23% year-on-year.

At the end of the reporting period, it had 2.5 billion yuan in total assets and 1.4 billion yuan in total liabilities, with a liability-to-asset ratio of 57.5%.