Qingdao Tianneng Heavy Industries Co.,Ltd.’s Net Profit Dropped 52.5% in First Three Quarters of 2022

Qingdao Tianneng Heavy Industries Co.,Ltd. (青岛天能重工股份有限公司) (300569.SZ) reported a net profit of 163.7 million yuan in the first three quarters of 2022, down 52.5% year-on-year.

Meanwhile, the company posted 2.6 billion yuan in revenue, up 15.7% year-on-year.

At the end of the reporting period, it had 11.1 billion yuan in total assets and 7.1 billion yuan in total liabilities, with a liability-to-asset ratio of 64.1%.