Chipsea Technologies(Shenzhen) Corp.,Ltd. Posted 48.9 Million Yuan Net Loss in First Quarter of 2023

Chipsea Technologies(Shenzhen) Corp.,Ltd. (芯海科技(深圳)股份有限公司) (688595.SH) reported a net loss of 48.9 million yuan in the first quarter of 2023, reversing a net profit of 909,393 yuan for the same period in the previous year.

Meanwhile, the company posted 61.7 million yuan in revenue, down 58.6% year-on-year.

At the end of the reporting period, it had 1.6 billion yuan in total assets and 583 million yuan in total liabilities, with a liability-to-asset ratio of 35.4%.