Nanjing Red Sun Co.,Ltd.’s Net Profit Dropped 97.5% in First Quarter of 2023

Nanjing Red Sun Co.,Ltd. (南京红太阳股份有限公司) (000525.SZ) reported a net profit of 7.7 million yuan in the first quarter of 2023, down 97.5% year-on-year.

Meanwhile, the company posted 747.4 million yuan in revenue, down 51.1% year-on-year.

At the end of the reporting period, it had 10.1 billion yuan in total assets and 8.6 billion yuan in total liabilities, with a liability-to-asset ratio of 85.9%.