Shanghai Step Electric Corporation Posted 43.2 Million Yuan Net Loss in First Three Quarters of 2022

Shanghai Step Electric Corporation (上海新时达电气股份有限公司) (002527.SZ) reported a net loss of 43.2 million yuan in the first three quarters of 2022, reversing a net profit of 147 million yuan for the same period in the previous year.

Meanwhile, the company posted 2.4 billion yuan in revenue, down 22.4% year-on-year.

At the end of the reporting period, it had 6.6 billion yuan in total assets and 3 billion yuan in total liabilities, with a liability-to-asset ratio of 45.6%.