Zhejiang Canaan Technology Limited’s Net Profit Dropped 38.5% in First Three Quarters of 2022

Zhejiang Canaan Technology Limited (浙江迦南科技股份有限公司) (300412.SZ) reported a net profit of 43.5 million yuan in the first three quarters of 2022, down 38.5% year-on-year.

Meanwhile, the company posted 757.2 million yuan in revenue, up 0.6% year-on-year.

At the end of the reporting period, it had 2.5 billion yuan in total assets and 1.3 billion yuan in total liabilities, with a liability-to-asset ratio of 52.3%.