Saic Motor Corporation Limited’s Net Profit Dropped 44.5% in First Quarter of 2023

Saic Motor Corporation Limited (上海汽车集团股份有限公司) (600104.SH) reported a net profit of 4.1 billion yuan in the first quarter of 2023, down 44.5% year-on-year.

Meanwhile, the company posted 140.7 billion yuan in revenue, down 20% year-on-year.

At the end of the reporting period, it had 948.1 billion yuan in total assets and 608.2 billion yuan in total liabilities, with a liability-to-asset ratio of 64.1%.