Earth-Panda Advanced Magnetic Material Co.,Ltd. Posted 44.8 Million Yuan Net Loss in First Quarter of 2023

Earth-Panda Advanced Magnetic Material Co.,Ltd. (安徽大地熊新材料股份有限公司) (688077.SH) reported a net loss of 44.8 million yuan in the first quarter of 2023, reversing a net profit of 54.4 million yuan for the same period in the previous year.

Meanwhile, the company posted 350.8 million yuan in revenue, down 26% year-on-year.

At the end of the reporting period, it had 2.6 billion yuan in total assets and 1.4 billion yuan in total liabilities, with a liability-to-asset ratio of 55.2%.