Guangzhou Hi-Target Navigation Tech Co.,Ltd. Posted 44.3 Million Yuan Net Loss in First Quarter of 2023

Guangzhou Hi-Target Navigation Tech Co.,Ltd. (广州中海达卫星导航技术股份有限公司) (300177.SZ) reported a net loss of 44.3 million yuan in the first quarter of 2023, reversing a net profit of 88.8 million yuan for the same period in the previous year.

Meanwhile, the company posted 189.2 million yuan in revenue, down 23.7% year-on-year.

At the end of the reporting period, it had 3.8 billion yuan in total assets and 1.5 billion yuan in total liabilities, with a liability-to-asset ratio of 40%.