Qifeng New Material Co.,Ltd. Posted 1.6 Million Yuan Net Loss in First Quarter of 2023

Qifeng New Material Co.,Ltd. (齐峰新材料股份有限公司) (002521.SZ) reported a net loss of 1.6 million yuan in the first quarter of 2023, reversing a net profit of 20.7 million yuan for the same period in the previous year.

Meanwhile, the company posted 796.1 million yuan in revenue, down 5% year-on-year.

At the end of the reporting period, it had 4.8 billion yuan in total assets and 1.3 billion yuan in total liabilities, with a liability-to-asset ratio of 26.3%.