Shanghai Shimao Co.,Ltd.’s Net Profit Dropped 48.4% in First Quarter of 2023

Shanghai Shimao Co.,Ltd. (上海世茂股份有限公司) (600823.SH) reported a net profit of 155.5 million yuan in the first quarter of 2023, down 48.4% year-on-year.

Meanwhile, the company posted 1.1 billion yuan in revenue, down 57.9% year-on-year.

At the end of the reporting period, it had 130.7 billion yuan in total assets and 89.9 billion yuan in total liabilities, with a liability-to-asset ratio of 68.8%.