May 06, 2022 08:00 AM

China Fortune Land Development Co.,Ltd. Posted 2.8 Billion Yuan Net Profit in First Quarter of 2022

By Caixin Automation

China Fortune Land Development Co.,Ltd. (华夏幸福基业股份有限公司) (600340.SH) reported a net profit of 2.8 billion yuan in the first quarter of 2022, reversing a net loss of 3.7 billion yuan for the same period in the previous year.

Meanwhile, the company posted 4.2 billion yuan in revenue, down 47.4% year-on-year.

At the end of the reporting period, it had 433.3 billion yuan in total assets and 407.7 billion yuan in total liabilities, with a liability-to-asset ratio of 94.1%.

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