Shanghai Hugong Electric Group Co.,Ltd.’s Net Profit Dropped 34.2% in First Three Quarters of 2022

Shanghai Hugong Electric Group Co.,Ltd. (上海沪工焊接集团股份有限公司) (603131.SH) reported a net profit of 58.8 million yuan in the first three quarters of 2022, down 34.2% year-on-year.

Meanwhile, the company posted 713.5 million yuan in revenue, down 17.8% year-on-year.

At the end of the reporting period, it had 2.5 billion yuan in total assets and 1 billion yuan in total liabilities, with a liability-to-asset ratio of 41.3%.