Jiangsu Seagull Cooling Tower Co.,Ltd.’s Net Profit Dropped 47% in First Quarter of 2023

Jiangsu Seagull Cooling Tower Co.,Ltd. (江苏海鸥冷却塔股份有限公司) (603269.SH) reported a net profit of 2 million yuan in the first quarter of 2023, down 47% year-on-year.

Meanwhile, the company posted 207.4 million yuan in revenue, down 13% year-on-year.

At the end of the reporting period, it had 2.9 billion yuan in total assets and 1.9 billion yuan in total liabilities, with a liability-to-asset ratio of 66.6%.