Shanghai Guangdian Electric Group Co.,Ltd.’s Net Profit Dropped 72.3% in First Quarter of 2023

Shanghai Guangdian Electric Group Co.,Ltd. (上海广电电气(集团)股份有限公司) (601616.SH) reported a net profit of 4.7 million yuan in the first quarter of 2023, down 72.3% year-on-year.

Meanwhile, the company posted 173.7 million yuan in revenue, down 26.2% year-on-year.

At the end of the reporting period, it had 3 billion yuan in total assets and 437 million yuan in total liabilities, with a liability-to-asset ratio of 14.4%.