Chinese Churinga Posted 8.5 Million Yuan Net Loss in First Quarter of 2023

Chinese Churinga (杭州初灵信息技术股份有限公司) (300250.SZ) reported a net loss of 8.5 million yuan in the first quarter of 2023, reversing a net profit of 2.9 million yuan for the same period in the previous year.

Meanwhile, the company posted 53.8 million yuan in revenue, down 40.5% year-on-year.

At the end of the reporting period, it had 799 million yuan in total assets and 203.4 million yuan in total liabilities, with a liability-to-asset ratio of 25.5%.