China Tourism Group Duty Free Corporation Limited’s Net Profit Dropped 15.5% in First Quarter of 2023

China Tourism Group Duty Free Corporation Limited (中国旅游集团中免股份有限公司) (601888.SH) reported a net profit of 2.5 billion yuan in the first quarter of 2023, down 15.5% year-on-year.

Meanwhile, the company posted 20.8 billion yuan in revenue, up 23.8% year-on-year.

At the end of the reporting period, it had 79.9 billion yuan in total assets and 23.6 billion yuan in total liabilities, with a liability-to-asset ratio of 29.5%.