Cathay Biotech Inc.’s Net Profit Dropped 62.4% in First Quarter of 2023

Cathay Biotech Inc. (上海凯赛生物技术股份有限公司) (688065.SH) reported a net profit of 71.9 million yuan in the first quarter of 2023, down 62.4% year-on-year.

Meanwhile, the company posted 505.4 million yuan in revenue, down 23.6% year-on-year.

At the end of the reporting period, it had 18.2 billion yuan in total assets and 3.1 billion yuan in total liabilities, with a liability-to-asset ratio of 17%.