Wuxi Xinje Electric Co.,Ltd.’s Net Profit Dropped 45.2% in First Quarter of 2023

Wuxi Xinje Electric Co.,Ltd. (无锡信捷电气股份有限公司) (603416.SH) reported a net profit of 40.9 million yuan in the first quarter of 2023, down 45.2% year-on-year.

Meanwhile, the company posted 328.7 million yuan in revenue, up 2.3% year-on-year.

At the end of the reporting period, it had 2.8 billion yuan in total assets and 817.8 million yuan in total liabilities, with a liability-to-asset ratio of 29%.