Shanghai Hugong Electric Group Co.,Ltd.’s Net Profit Dropped 31.9% in First Quarter of 2023

Shanghai Hugong Electric Group Co.,Ltd. (上海沪工焊接集团股份有限公司) (603131.SH) reported a net profit of 6.8 million yuan in the first quarter of 2023, down 31.9% year-on-year.

Meanwhile, the company posted 203.2 million yuan in revenue, down 17.9% year-on-year.

At the end of the reporting period, it had 2.3 billion yuan in total assets and 1.1 billion yuan in total liabilities, with a liability-to-asset ratio of 45.4%.