Sunward Intelligent Equipment Co.,Ltd. Posted 53 Million Yuan Net Loss in First Quarter of 2022

Sunward Intelligent Equipment Co.,Ltd. (山河智能装备股份有限公司) (002097.SZ) reported a net loss of 53 million yuan in the first quarter of 2022, reversing a net profit of 296.6 million yuan for the same period in the previous year.

Meanwhile, the company posted 1.7 billion yuan in revenue, down 50% year-on-year.

At the end of the reporting period, it had 20.6 billion yuan in total assets and 14.9 billion yuan in total liabilities, with a liability-to-asset ratio of 72.5%.