Qingdao Tianneng Heavy Industries Co.,Ltd.’s Net Profit Rose 96% in First Quarter of 2023

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 55 million yuan in the first quarter of 2023, up 96% year-on-year.

Meanwhile, the company posted 508.5 million yuan in revenue, up 16.8% year-on-year.

At the end of the reporting period, it had 10.9 billion yuan in total assets and 6.9 billion yuan in total liabilities, with a liability-to-asset ratio of 62.6%.