Shanghai New Culture Media Group Co.,Ltd. Posted 11.5 Million Yuan Net Loss in First Quarter of 2023

Shanghai New Culture Media Group Co.,Ltd. (上海新文化传媒集团股份有限公司) (300336.SZ) reported a net loss of 11.5 million yuan in the first quarter of 2023, narrowing 43.8% year-on-year.

Meanwhile, the company posted 11.5 million yuan in revenue, down 54.9% year-on-year.

At the end of the reporting period, it had 532.5 million yuan in total assets and 496.7 million yuan in total liabilities, with a liability-to-asset ratio of 93.3%.