Guangdong Xinbao Electrical Appliances Holdings Co.,Ltd.’s Net Profit Dropped 17.1% in First Quarter of 2023

Guangdong Xinbao Electrical Appliances Holdings Co.,Ltd. (广东新宝电器股份有限公司) (002705.SZ) reported a net profit of 154.9 million yuan in the first quarter of 2023, down 17.1% year-on-year.

Meanwhile, the company posted 2.8 billion yuan in revenue, down 22.3% year-on-year.

At the end of the reporting period, it had 12.5 billion yuan in total assets and 5.2 billion yuan in total liabilities, with a liability-to-asset ratio of 41.6%.