G-Bits Network Technology(Xiamen) Co.,Ltd.’s Net Profit Dropped 16% in First Quarter of 2023

G-Bits Network Technology(Xiamen) Co.,Ltd. (厦门吉比特网络技术股份有限公司) (603444.SH) reported a net profit of 380.9 million yuan in the first quarter of 2023, down 16% year-on-year.

Meanwhile, the company posted 1.1 billion yuan in revenue, down 6.9% year-on-year.

At the end of the reporting period, it had 6.8 billion yuan in total assets and 1.7 billion yuan in total liabilities, with a liability-to-asset ratio of 25.1%.