Guangzhou Shangpin Home Collection Co.,Ltd. Posted 100.6 Million Yuan Net Loss in First Quarter of 2022

Guangzhou Shangpin Home Collection Co.,Ltd. (广州尚品宅配家居股份有限公司) (300616.SZ) reported a net loss of 100.6 million yuan in the first quarter of 2022, reversing a net profit of 6.9 million yuan for the same period in the previous year.

Meanwhile, the company posted 1.1 billion yuan in revenue, down 22.9% year-on-year.

At the end of the reporting period, it had 7.5 billion yuan in total assets and 4 billion yuan in total liabilities, with a liability-to-asset ratio of 53.5%.