China Grand Automotive Services Group Co.,Ltd.’s Net Profit Dropped 27% in First Quarter of 2023

China Grand Automotive Services Group Co.,Ltd. (广汇汽车服务集团股份公司) (600297.SH) reported a net profit of 604.9 million yuan in the first quarter of 2023, down 27% year-on-year.

Meanwhile, the company posted 31.4 billion yuan in revenue, down 10.6% year-on-year.

At the end of the reporting period, it had 123.9 billion yuan in total assets and 79.2 billion yuan in total liabilities, with a liability-to-asset ratio of 64%.