Gansu Shangfeng Cement Co.,Ltd.’s Net Profit Dropped 53% in First Quarter of 2023

Gansu Shangfeng Cement Co.,Ltd. (甘肃上峰水泥股份有限公司) (000672.SZ) reported a net profit of 157.8 million yuan in the first quarter of 2023, down 53% year-on-year.

Meanwhile, the company posted 1.4 billion yuan in revenue, down 7% year-on-year.

At the end of the reporting period, it had 17.6 billion yuan in total assets and 8.2 billion yuan in total liabilities, with a liability-to-asset ratio of 46.8%.