China Grand Automotive Services Group Co.,Ltd. Posted 2.7 Billion Yuan Net Loss in 2022

China Grand Automotive Services Group Co.,Ltd. (广汇汽车服务集团股份公司) (600297.SH) reported a net loss of 2.7 billion yuan in 2022, reversing a net profit of 2 billion yuan for the previous year.

Meanwhile, the company posted 133.5 billion yuan in revenue, down 15.7% year-on-year.

At the end of the reporting period, it had 126.3 billion yuan in total assets and 82.2 billion yuan in total liabilities, with a liability-to-asset ratio of 65.1%.