Xinxing Ductile Iron Pipes Co.,Ltd.’s Net Profit Dropped 44% in First Quarter of 2023

Xinxing Ductile Iron Pipes Co.,Ltd. (新兴铸管股份有限公司) (000778.SZ) reported a net profit of 359 million yuan in the first quarter of 2023, down 44% year-on-year.

Meanwhile, the company posted 11.9 billion yuan in revenue, down 8.8% year-on-year.

At the end of the reporting period, it had 57.3 billion yuan in total assets and 29.2 billion yuan in total liabilities, with a liability-to-asset ratio of 51.1%.