Ningbo Shimao Energy Co.,Ltd.’s Net Profit Dropped 9.9% in First Quarter of 2023

Ningbo Shimao Energy Co.,Ltd. (宁波世茂能源股份有限公司) (605028.SH) reported a net profit of 40.6 million yuan in the first quarter of 2023, down 9.9% year-on-year.

Meanwhile, the company posted 86.8 million yuan in revenue, down 8.7% year-on-year.

At the end of the reporting period, it had 1.4 billion yuan in total assets and 177.6 million yuan in total liabilities, with a liability-to-asset ratio of 12.9%.