Red Star Macalline Group Corporation Ltd.’s Net Profit Dropped 70.7% in First Quarter of 2023

Red Star Macalline Group Corporation Ltd. (红星美凯龙家居集团股份有限公司) (601828.SH) reported a net profit of 185.1 million yuan in the first quarter of 2023, down 70.7% year-on-year.

Meanwhile, the company posted 2.6 billion yuan in revenue, down 22.5% year-on-year.

At the end of the reporting period, it had 127.7 billion yuan in total assets and 70.4 billion yuan in total liabilities, with a liability-to-asset ratio of 55.2%.