Qumei Home Furnishings Group Co.,Ltd. Posted 98.8 Million Yuan Net Loss in First Quarter of 2023

Qumei Home Furnishings Group Co.,Ltd. (曲美家居集团股份有限公司) (603818.SH) reported a net loss of 98.8 million yuan in the first quarter of 2023, reversing a net profit of 58.5 million yuan for the same period in the previous year.

Meanwhile, the company posted 1 billion yuan in revenue, down 26.3% year-on-year.

At the end of the reporting period, it had 7 billion yuan in total assets and 4.8 billion yuan in total liabilities, with a liability-to-asset ratio of 69%.