Why did Ocean Electric 2022 fall so badly?

The subsidiary Shanghai Electric Drive lost money in 2022. In 2022, the profit of Dayang Electric Company dropped sharply, and the net profit attributable to shareholders of listed companies was-238 million yuan, down 668.7% year-on-year, mainly due to the loss of its subsidiary Shanghai Electric Drive in 2022 and the wrong product price positioning. Dayang Electric Co., Ltd., legal representative: Lu Chuping, registered capital: 2,365.53 million yuan.