Anhui Wanwei Updated High-Tech Material Industry Company Limited’s Net Profit Dropped 70.2% in First Quarter of 2023

Anhui Wanwei Updated High-Tech Material Industry Company Limited (安徽皖维高新材料股份有限公司) (600063.SH) reported a net profit of 127.3 million yuan in the first quarter of 2023, down 70.2% year-on-year.

Meanwhile, the company posted 2.2 billion yuan in revenue, down 12% year-on-year.

At the end of the reporting period, it had 13.5 billion yuan in total assets and 5.5 billion yuan in total liabilities, with a liability-to-asset ratio of 41.1%.