Shanghai Electric Group Company Limited’s Net Profit Rose 119% in First Quarter of 2023

Shanghai Electric Group Company Limited (上海电气集团股份有限公司) (601727.SH) reported a net profit of 693.1 million yuan in the first quarter of 2023, up 119% year-on-year.

Meanwhile, the company posted 21.1 billion yuan in revenue, down 14.8% year-on-year.

At the end of the reporting period, it had 287.1 billion yuan in total assets and 192.4 billion yuan in total liabilities, with a liability-to-asset ratio of 67%.