Wolong Electric Group Co.,Ltd.’s Net Profit Rose 29.9% in First Quarter of 2023

Wolong Electric Group Co.,Ltd. (卧龙电气驱动集团股份有限公司) (600580.SH) reported a net profit of 265.1 million yuan in the first quarter of 2023, up 29.9% year-on-year.

Meanwhile, the company posted 3.8 billion yuan in revenue, up 8.8% year-on-year.

At the end of the reporting period, it had 23.8 billion yuan in total assets and 13.3 billion yuan in total liabilities, with a liability-to-asset ratio of 56%.