Guangzhou Development Group Incorporated Posted 1.2 Billion Yuan Net Profit in 2022

Guangzhou Development Group Incorporated (广州发展集团股份有限公司) (600098.SH) reported a net profit of 1.2 billion yuan in 2022, reversing a net loss of 102.3 million yuan for the previous year.

Meanwhile, the company posted 47.8 billion yuan in revenue, up 26.2% year-on-year.

At the end of the reporting period, it had 62 billion yuan in total assets and 35.4 billion yuan in total liabilities, with a liability-to-asset ratio of 57.1%.