Shanghai Industrial Development Co.,Ltd. Posted 19.5 Million Yuan Net Loss in First Quarter of 2022

Shanghai Industrial Development Co.,Ltd. (上海实业发展股份有限公司) (600748.SH) reported a net loss of 19.5 million yuan in the first quarter of 2022, reversing a net profit of 179.8 million yuan for the same period in the previous year.

Meanwhile, the company posted 1 billion yuan in revenue, down 38.1% year-on-year.

At the end of the reporting period, it had 40 billion yuan in total assets and 28.9 billion yuan in total liabilities, with a liability-to-asset ratio of 72.2%.