State Grid Corporation and China Southern Power Grid (CSG), two leading state-owned electric utilities in the country all reported profit slump during the first quarter.
State Grid bagged a total 568.88 billion ($80.41 billion) yuan of revenue during the first three months, down 8.85% from a year ago, according to its quarterly financial statement released lately. It also reported a net loss of 920 million yuan during the same period, a sharp fall of 106.03% from net profit of 15.3 billion yuan in 2019……..