Hubei Xingfa Chemicals Group Co.,Ltd.’s Net Profit Dropped 78.1% in First Quarter of 2023

Hubei Xingfa Chemicals Group Co.,Ltd. (湖北兴发化工集团股份有限公司) (600141.SH) reported a net profit of 467.5 million yuan in the first quarter of 2023, down 78.1% year-on-year.

Meanwhile, the company posted 6.6 billion yuan in revenue, down 25% year-on-year.

At the end of the reporting period, it had 42.5 billion yuan in total assets and 20.5 billion yuan in total liabilities, with a liability-to-asset ratio of 48.2%.