Xiangyang Automobile Bearing Co.,Ltd. Posted 22.6 Million Yuan Net Loss in First Quarter of 2023

Xiangyang Automobile Bearing Co.,Ltd. (襄阳汽车轴承股份有限公司) (000678.SZ) reported a net loss of 22.6 million yuan in the first quarter of 2023, narrowing 19.5% year-on-year.

Meanwhile, the company posted 322.7 million yuan in revenue, up 10% year-on-year.

At the end of the reporting period, it had 2.4 billion yuan in total assets and 1.5 billion yuan in total liabilities, with a liability-to-asset ratio of 61%.