May 03, 2023 08:00 AM

China Fortune Land Development Co.,Ltd.’s Net Profit Dropped 70.3% in First Quarter of 2023

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China Fortune Land Development Co.,Ltd. (华夏幸福基业股份有限公司) (600340.SH) reported a net profit of 827.2 million yuan in the first quarter of 2023, down 70.3% year-on-year.

Meanwhile, the company posted 5.9 billion yuan in revenue, up 40.5% year-on-year.

At the end of the reporting period, it had 384.1 billion yuan in total assets and 357.8 billion yuan in total liabilities, with a liability-to-asset ratio of 93.2%.

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