Ningbo Dechang Electrical Machinery Co.,Ltd.’s Net Profit Dropped 29.8% in First Quarter of 2023

Ningbo Dechang Electrical Machinery Co.,Ltd. (宁波德昌电机股份有限公司) (605555.SH) reported a net profit of 42.2 million yuan in the first quarter of 2023, down 29.8% year-on-year.

Meanwhile, the company posted 564.2 million yuan in revenue, down 1% year-on-year.

At the end of the reporting period, it had 3.9 billion yuan in total assets and 1.3 billion yuan in total liabilities, with a liability-to-asset ratio of 33.8%.