Gem-Year Industrial Co.,Ltd.’s Net Profit Dropped 64.3% in First Quarter of 2023

Gem-Year Industrial Co.,Ltd. (晋亿实业股份有限公司) (601002.SH) reported a net profit of 19.4 million yuan in the first quarter of 2023, down 64.3% year-on-year.

Meanwhile, the company posted 486.6 million yuan in revenue, down 27.6% year-on-year.

At the end of the reporting period, it had 5.4 billion yuan in total assets and 1.1 billion yuan in total liabilities, with a liability-to-asset ratio of 20%.