Gem Co.,Ltd.’s Net Profit Dropped 32.7% in First Quarter of 2023

Gem Co.,Ltd. (格林美股份有限公司) (002340.SZ) reported a net profit of 236.4 million yuan in the first quarter of 2023, down 32.7% year-on-year.

Meanwhile, the company posted 6.1 billion yuan in revenue, down 12% year-on-year.

At the end of the reporting period, it had 44 billion yuan in total assets and 23 billion yuan in total liabilities, with a liability-to-asset ratio of 52.2%.