Grace Fabric Technology Co.,Ltd. Posted 3.8 Million Yuan Net Loss in First Quarter of 2023

Grace Fabric Technology Co.,Ltd. (宏和电子材料科技股份有限公司) (603256.SH) reported a net loss of 3.8 million yuan in the first quarter of 2023, reversing a net profit of 15.6 million yuan for the same period in the previous year.

Meanwhile, the company posted 122.3 million yuan in revenue, down 30.9% year-on-year.

At the end of the reporting period, it had 2.5 billion yuan in total assets and 1 billion yuan in total liabilities, with a liability-to-asset ratio of 40.1%.