China Oil & Gas Piping Network Corporation (PipeChina) saw its net profit rise 7.2 percent year on year to 31.9 billion yuan (about 4.7 billion U.S. dollars) in 2022, the company said in a latest report.
In 2022, operating revenue amounted to 112.2 billion yuan, up 11.2 percent year on year, the company said in its report, as quoted Wednesday by the State-owned Assets Supervision and Administration Commission of the State Council official website.
Meanwhile, its total assets increased 8.3 percent year on year to surpass 920 billion yuan.
PipeChina attributed its profit increase mainly to its market expansion, creative development abilities, and effective strategies for confronting challenges such as COVID-19 and multiple global crises.
