Giti Tire Corporation’s Net Profit Dropped 66.4% in First Quarter of 2022

Giti Tire Corporation (佳通轮胎股份有限公司) (600182.SH) reported a net profit of 9.5 million yuan in the first quarter of 2022, down 66.4% year-on-year.

Meanwhile, the company posted 891.1 million yuan in revenue, up 13.9% year-on-year.

At the end of the reporting period, it had 3.4 billion yuan in total assets and 1.6 billion yuan in total liabilities, with a liability-to-asset ratio of 48%.