Changshu Fengfan Power Equipment Co.,Ltd.’s Net Profit Dropped 38% in First Quarter of 2023

Changshu Fengfan Power Equipment Co.,Ltd. (常熟风范电力设备股份有限公司) (601700.SH) reported a net profit of 11.2 million yuan in the first quarter of 2023, down 38% year-on-year.

Meanwhile, the company posted 496.6 million yuan in revenue, down 15.2% year-on-year.

At the end of the reporting period, it had 4.7 billion yuan in total assets and 2.1 billion yuan in total liabilities, with a liability-to-asset ratio of 44.2%.