Weihai Guangwei Composites Co.,Ltd.’s Net Profit Dropped 20.2% in First Quarter of 2023

Weihai Guangwei Composites Co.,Ltd. (威海光威复合材料股份有限公司) (300699.SZ) reported a net profit of 163.6 million yuan in the first quarter of 2023, down 20.2% year-on-year.

Meanwhile, the company posted 556.8 million yuan in revenue, down 5.8% year-on-year.

At the end of the reporting period, it had 6.4 billion yuan in total assets and 1.2 billion yuan in total liabilities, with a liability-to-asset ratio of 19.5%.