Shanghai Morn Electric Equipment Co.,Ltd.’s Net Profit Dropped 33% in First Quarter of 2023

Shanghai Morn Electric Equipment Co.,Ltd. (上海摩恩电气股份有限公司) (002451.SZ) reported a net profit of 6.6 million yuan in the first quarter of 2023, down 33% year-on-year.

Meanwhile, the company posted 249.3 million yuan in revenue, down 2.7% year-on-year.

At the end of the reporting period, it had 1.8 billion yuan in total assets and 924.3 million yuan in total liabilities, with a liability-to-asset ratio of 51.6%.