Xcmg Construction Machinery Co.,Ltd.’s Net Profit Dropped 25.7% in First Quarter of 2023

Xcmg Construction Machinery Co.,Ltd. (徐工集团工程机械股份有限公司) (000425.SZ) reported a net profit of 1.6 billion yuan in the first quarter of 2023, down 25.7% year-on-year.

Meanwhile, the company posted 23.8 billion yuan in revenue, down 9.8% year-on-year.

At the end of the reporting period, it had 175.3 billion yuan in total assets and 119.9 billion yuan in total liabilities, with a liability-to-asset ratio of 68.4%.