Shanghai Hongda New Material Co.,Ltd. Posted 3.5 Million Yuan Net Loss in First Quarter of 2023

Shanghai Hongda New Material Co.,Ltd. (上海宏达新材料股份有限公司) (002211.SZ) reported a net loss of 3.5 million yuan in the first quarter of 2023, narrowing 67.4% year-on-year.

Meanwhile, the company posted 54.8 million yuan in revenue, down 40.8% year-on-year.

At the end of the reporting period, it had 326.9 million yuan in total assets and 237.7 million yuan in total liabilities, with a liability-to-asset ratio of 72.7%.