Ming Yang Smart Energy Group Limited Posted 229.9 Million Yuan Net Loss in First Quarter of 2023

Ming Yang Smart Energy Group Limited (明阳智慧能源集团股份公司) (601615.SH) reported a net loss of 229.9 million yuan in the first quarter of 2023, reversing a net profit of 1.4 billion yuan for the same period in the previous year.

Meanwhile, the company posted 2.7 billion yuan in revenue, down 61.8% year-on-year.

At the end of the reporting period, it had 71.3 billion yuan in total assets and 43.1 billion yuan in total liabilities, with a liability-to-asset ratio of 60.5%.