Ningxia Building Materials Group Co.,Ltd.’s Net Profit Dropped 73.1% in First Quarter of 2023

Ningxia Building Materials Group Co.,Ltd. (宁夏建材集团股份有限公司) (600449.SH) reported a net profit of 5.2 million yuan in the first quarter of 2023, down 73.1% year-on-year.

Meanwhile, the company posted 1.1 billion yuan in revenue, up 16.2% year-on-year.

At the end of the reporting period, it had 10.2 billion yuan in total assets and 2.8 billion yuan in total liabilities, with a liability-to-asset ratio of 27%.