Shanghai Step Electric Corporation Posted 1.1 Billion Yuan Net Loss in 2022

Shanghai Step Electric Corporation (上海新时达电气股份有限公司) (002527.SZ) reported a net loss of 1.1 billion yuan in 2022, reversing a net profit of 169.2 million yuan for the previous year.

Meanwhile, the company posted 3.1 billion yuan in revenue, down 27.4% year-on-year.

At the end of the reporting period, it had 6 billion yuan in total assets and 4.1 billion yuan in total liabilities, with a liability-to-asset ratio of 68.3%.