Ningbo Gaofa Automotive Control System Co.,Ltd.’s Net Profit Dropped 24.3% in First Quarter of 2023

Ningbo Gaofa Automotive Control System Co.,Ltd. (宁波高发汽车控制系统股份有限公司) (603788.SH) reported a net profit of 28.7 million yuan in the first quarter of 2023, down 24.3% year-on-year.

Meanwhile, the company posted 248 million yuan in revenue, up 1.9% year-on-year.

At the end of the reporting period, it had 2.3 billion yuan in total assets and 311.5 million yuan in total liabilities, with a liability-to-asset ratio of 13.5%.