Shandong Longquan Pipeline Engineering Co.,Ltd. Posted 648.8 Million Yuan Net Loss in 2022

Shandong Longquan Pipeline Engineering Co.,Ltd. (山东龙泉管道工程股份有限公司) (002671.SZ) reported a net loss of 648.8 million yuan in 2022, reversing a net profit of 13 million yuan for the previous year.

Meanwhile, the company posted 1 billion yuan in revenue, down 27.6% year-on-year.

At the end of the reporting period, it had 2.6 billion yuan in total assets and 1.1 billion yuan in total liabilities, with a liability-to-asset ratio of 40.5%.