Biwin Storage Technology Co.,Ltd. Posted 126 Million Yuan Net Loss in First Quarter of 2023

Biwin Storage Technology Co.,Ltd. (深圳佰维存储科技股份有限公司) (688525.SH) reported a net loss of 126 million yuan in the first quarter of 2023, reversing a net profit of 15.6 million yuan for the same period in the previous year.

Meanwhile, the company posted 425.5 million yuan in revenue, down 39.4% year-on-year.

At the end of the reporting period, it had 5.2 billion yuan in total assets and 2.9 billion yuan in total liabilities, with a liability-to-asset ratio of 55.6%.