Shanghai Industrial Development Co.,Ltd. Posted 295.2 Million Yuan Net Profit in First Quarter of 2023

Shanghai Industrial Development Co.,Ltd. (上海实业发展股份有限公司) (600748.SH) reported a net profit of 295.2 million yuan in the first quarter of 2023, reversing a net loss of 19.5 million yuan for the same period in the previous year.

Meanwhile, the company posted 2.8 billion yuan in revenue, up 183% year-on-year.

At the end of the reporting period, it had 35.6 billion yuan in total assets and 24.3 billion yuan in total liabilities, with a liability-to-asset ratio of 68.3%.