Shunfa Hengye Corporation’s Net Profit Dropped 53.5% in First Quarter of 2023

Shunfa Hengye Corporation (顺发恒业股份公司) (000631.SZ) reported a net profit of 20.5 million yuan in the first quarter of 2023, down 53.5% year-on-year.

Meanwhile, the company posted 59.2 million yuan in revenue, down 14.5% year-on-year.

At the end of the reporting period, it had 9.2 billion yuan in total assets and 3 billion yuan in total liabilities, with a liability-to-asset ratio of 32.2%.