Shandong Molong Petroleum Machinery Co.,Ltd. Posted 89.3 Million Yuan Net Loss in First Quarter of 2023

Shandong Molong Petroleum Machinery Co.,Ltd. (山东墨龙石油机械股份有限公司) (002490.SZ) reported a net loss of 89.3 million yuan in the first quarter of 2023, widening 26.1% year-on-year.

Meanwhile, the company posted 408 million yuan in revenue, down 27.3% year-on-year.

At the end of the reporting period, it had 4 billion yuan in total assets and 3.2 billion yuan in total liabilities, with a liability-to-asset ratio of 79.4%.