Minmetals Development Co.,Ltd.’s Net Profit Dropped 74.4% in First Quarter of 2023

Minmetals Development Co.,Ltd. (五矿发展股份有限公司) (600058.SH) reported a net profit of 34.5 million yuan in the first quarter of 2023, down 74.4% year-on-year.

Meanwhile, the company posted 17.3 billion yuan in revenue, up 13.4% year-on-year.

At the end of the reporting period, it had 28.4 billion yuan in total assets and 22.4 billion yuan in total liabilities, with a liability-to-asset ratio of 78.8%.