Cosco Shipping Energy Transportation Co.,Ltd.’s Net Profit Dropped 73.6% in First Quarter of 2022

Cosco Shipping Energy Transportation Co.,Ltd. (中远海运能源运输股份有限公司) (600026.SH) reported a net profit of 106.2 million yuan in the first quarter of 2022, down 73.6% year-on-year.

Meanwhile, the company posted 3.5 billion yuan in revenue, up 13% year-on-year.

At the end of the reporting period, it had 59.7 billion yuan in total assets and 29.7 billion yuan in total liabilities, with a liability-to-asset ratio of 49.8%.