Gigadevice Semiconductor Inc.’s Net Profit Dropped 78% in First Half of 2023

Gigadevice Semiconductor Inc. (兆易创新科技集团股份有限公司) (603986.SH) reported a net profit of 336 million yuan in the first half of 2023, down 78% year-on-year.

Meanwhile, the company posted 3 billion yuan in revenue, down 38% year-on-year.

At the end of the reporting period, it had 16.5 billion yuan in total assets and 1.3 billion yuan in total liabilities, with a liability-to-asset ratio of 7.6%.