Ningbo Deye Technology Co.,Ltd.’s Net Profit Rose 346.4% in First Quarter of 2023

Ningbo Deye Technology Co.,Ltd. (宁波德业科技股份有限公司) (605117.SH) reported a net profit of 588.8 million yuan in the first quarter of 2023, up 346.4% year-on-year.

Meanwhile, the company posted 2.1 billion yuan in revenue, up 147.9% year-on-year.

At the end of the reporting period, it had 10.2 billion yuan in total assets and 5.6 billion yuan in total liabilities, with a liability-to-asset ratio of 54.8%.