China Northern Rare Earth(Group) High-Tech Co.,Ltd.’s Net Profit Dropped 48.3% in First Quarter of 2023

China Northern Rare Earth(Group) High-Tech Co.,Ltd. (中国北方稀土(集团)高科技股份有限公司) (600111.SH) reported a net profit of 945.4 million yuan in the first quarter of 2023, down 48.3% year-on-year.

Meanwhile, the company posted 9.2 billion yuan in revenue, down 5.9% year-on-year.

At the end of the reporting period, it had 38.5 billion yuan in total assets and 12.5 billion yuan in total liabilities, with a liability-to-asset ratio of 32.4%.