Xinxing Ductile Iron Pipes Co.,Ltd.’s Net Profit Dropped 12% in 2022

Xinxing Ductile Iron Pipes Co.,Ltd. (新兴铸管股份有限公司) (000778.SZ) reported a net profit of 1.9 billion yuan in 2022, down 12% year-on-year.

Meanwhile, the company posted 47.8 billion yuan in revenue, down 10.4% year-on-year.

At the end of the reporting period, it had 55.9 billion yuan in total assets and 28.3 billion yuan in total liabilities, with a liability-to-asset ratio of 50.7%.