Shanghai Hugong Electric Group Co.,Ltd. Posted 132.5 Million Yuan Net Loss in 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 loss of 132.5 million yuan in 2022, reversing a net profit of 145.8 million yuan for the previous year.

Meanwhile, the company posted 1 billion yuan in revenue, down 24.4% year-on-year.

At the end of the reporting period, it had 2.3 billion yuan in total assets and 1.1 billion yuan in total liabilities, with a liability-to-asset ratio of 45.5%.