Shanghai Chengtou Holding Co.,Ltd.’s Net Profit Dropped 84.3% in First Quarter of 2023

Shanghai Chengtou Holding Co.,Ltd. (上海城投控股股份有限公司) (600649.SH) reported a net profit of 74.3 million yuan in the first quarter of 2023, down 84.3% year-on-year.

Meanwhile, the company posted 484.5 million yuan in revenue, down 59.3% year-on-year.

At the end of the reporting period, it had 72.2 billion yuan in total assets and 50.4 billion yuan in total liabilities, with a liability-to-asset ratio of 69.9%.