Gansu Jiu Steel Group Hongxing Iron&Steel Co.,Ltd.’s Net Profit Rose 181.7% in First Quarter of 2023

Gansu Jiu Steel Group Hongxing Iron&Steel Co.,Ltd. (甘肃酒钢集团宏兴钢铁股份有限公司) (600307.SH) reported a net profit of 30.7 million yuan in the first quarter of 2023, up 181.7% year-on-year.

Meanwhile, the company posted 10.4 billion yuan in revenue, down 5.5% year-on-year.

At the end of the reporting period, it had 42 billion yuan in total assets and 30.8 billion yuan in total liabilities, with a liability-to-asset ratio of 73.3%.