Shandong Xinchao Energy Corporation Limited’s Net Profit Rose 20.5% in First Quarter of 2023

Shandong Xinchao Energy Corporation Limited (山东新潮能源股份有限公司) (600777.SH) reported a net profit of 634.9 million yuan in the first quarter of 2023, up 20.5% year-on-year.

Meanwhile, the company posted 2 billion yuan in revenue, up 19% year-on-year.

At the end of the reporting period, it had 31.5 billion yuan in total assets and 14.1 billion yuan in total liabilities, with a liability-to-asset ratio of 44.6%.