Guangzhou Development Group Incorporated’s Net Profit Rose 91.9% in First Quarter of 2023

Guangzhou Development Group Incorporated (广州发展集团股份有限公司) (600098.SH) reported a net profit of 412.7 million yuan in the first quarter of 2023, up 91.9% year-on-year.

Meanwhile, the company posted 10.1 billion yuan in revenue, up 20.5% year-on-year.

At the end of the reporting period, it had 64.4 billion yuan in total assets and 37.4 billion yuan in total liabilities, with a liability-to-asset ratio of 58.1%.