Shanghai Step Electric Corporation Posted 129.8 Million Yuan Net Profit in First Quarter of 2023

Shanghai Step Electric Corporation (上海新时达电气股份有限公司) (002527.SZ) reported a net profit of 129.8 million yuan in the first quarter of 2023, reversing a net loss of 19.1 million yuan for the same period in the previous year.

Meanwhile, the company posted 911 million yuan in revenue, up 11.4% year-on-year.

At the end of the reporting period, it had 6.2 billion yuan in total assets and 4.1 billion yuan in total liabilities, with a liability-to-asset ratio of 67.1%.