Loncin Motor Co.,Ltd.’s Net Profit Dropped 38% in First Quarter of 2023

Loncin Motor Co.,Ltd. (隆鑫通用动力股份有限公司) (603766.SH) reported a net profit of 181.4 million yuan in the first quarter of 2023, down 38% year-on-year.

Meanwhile, the company posted 2.7 billion yuan in revenue, down 21.9% year-on-year.

At the end of the reporting period, it had 12.8 billion yuan in total assets and 4.5 billion yuan in total liabilities, with a liability-to-asset ratio of 35.3%.