Fujian Torch Electron Technology Co.,Ltd.’s Net Profit Dropped 35.2% in First Quarter of 2023

Fujian Torch Electron Technology Co.,Ltd. (福建火炬电子科技股份有限公司) (603678.SH) reported a net profit of 127.6 million yuan in the first quarter of 2023, down 35.2% year-on-year.

Meanwhile, the company posted 641.5 million yuan in revenue, down 23.9% year-on-year.

At the end of the reporting period, it had 7.5 billion yuan in total assets and 1.9 billion yuan in total liabilities, with a liability-to-asset ratio of 25.5%.