Shanghai Shimao Co.,Ltd.’s Net Profit Dropped 41.7% in First Quarter of 2022

Shanghai Shimao Co.,Ltd. (上海世茂股份有限公司) (600823.SH) reported a net profit of 301.4 million yuan in the first quarter of 2022, down 41.7% year-on-year.

Meanwhile, the company posted 2.6 billion yuan in revenue, down 28.3% year-on-year.

At the end of the reporting period, it had 138.5 billion yuan in total assets and 89.2 billion yuan in total liabilities, with a liability-to-asset ratio of 64.4%.