Xin Feng Ming Group Co.,Ltd.’s Net Profit Dropped 33.5% in First Quarter of 2023

Xin Feng Ming Group Co.,Ltd. (新凤鸣集团股份有限公司) (603225.SH) reported a net profit of 189.5 million yuan in the first quarter of 2023, down 33.5% year-on-year.

Meanwhile, the company posted 12.5 billion yuan in revenue, up 18% year-on-year.

At the end of the reporting period, it had 47.3 billion yuan in total assets and 31.4 billion yuan in total liabilities, with a liability-to-asset ratio of 66.4%.