Suzhou Chunxing Precision Mechanical Co.,Ltd. Posted 11.1 Million Yuan Net Loss in First Quarter of 2023

Suzhou Chunxing Precision Mechanical Co.,Ltd. (苏州春兴精工股份有限公司) (002547.SZ) reported a net loss of 11.1 million yuan in the first quarter of 2023, reversing a net profit of 12.2 million yuan for the same period in the previous year.

Meanwhile, the company posted 591.9 million yuan in revenue, down 12.9% year-on-year.

At the end of the reporting period, it had 5.5 billion yuan in total assets and 5 billion yuan in total liabilities, with a liability-to-asset ratio of 90.6%.