Qingdao Huijintong Power Equipment Co.,Ltd.’s Net Profit Dropped 64.5% in First Quarter of 2023

Qingdao Huijintong Power Equipment Co.,Ltd. (青岛汇金通电力设备股份有限公司) (603577.SH) reported a net profit of 5.7 million yuan in the first quarter of 2023, down 64.5% year-on-year.

Meanwhile, the company posted 870.6 million yuan in revenue, up 12.4% year-on-year.

At the end of the reporting period, it had 6.1 billion yuan in total assets and 4.3 billion yuan in total liabilities, with a liability-to-asset ratio of 70.6%.