Xiangtan Electric Manufacturing Co.,Ltd.’s Net Profit Rose 62.8% in First Quarter of 2023

Xiangtan Electric Manufacturing Co.,Ltd. (湘潭电机股份有限公司) (600416.SH) reported a net profit of 100.5 million yuan in the first quarter of 2023, up 62.8% year-on-year.

Meanwhile, the company posted 1.2 billion yuan in revenue, up 10.1% year-on-year.

At the end of the reporting period, it had 13.5 billion yuan in total assets and 6.5 billion yuan in total liabilities, with a liability-to-asset ratio of 47.9%.