Bright Real Estate Group Co.,Ltd.’s Net Profit Dropped 99% in First Quarter of 2023

Bright Real Estate Group Co.,Ltd. (光明房地产集团股份有限公司) (600708.SH) reported a net profit of 831,140 yuan in the first quarter of 2023, down 99% year-on-year.

Meanwhile, the company posted 2 billion yuan in revenue, down 61.2% year-on-year.

At the end of the reporting period, it had 66.6 billion yuan in total assets and 54.8 billion yuan in total liabilities, with a liability-to-asset ratio of 82.3%.