Jiangsu Lopal Tech Co.,Ltd. Posted 279.8 Million Yuan Net Loss in First Quarter of 2023

Jiangsu Lopal Tech Co.,Ltd. (江苏龙蟠科技股份有限公司) (603906.SH) reported a net loss of 279.8 million yuan in the first quarter of 2023, reversing a net profit of 302.7 million yuan for the same period in the previous year.

Meanwhile, the company posted 2.1 billion yuan in revenue, down 18.6% year-on-year.

At the end of the reporting period, it had 17.7 billion yuan in total assets and 12.3 billion yuan in total liabilities, with a liability-to-asset ratio of 69.7%.