Bafang Electric(Suzhou) Co.,Ltd.’s Net Profit Dropped 70.2% in First Half of 2023

Bafang Electric(Suzhou) Co.,Ltd. (八方电气(苏州)股份有限公司) (603489.SH) reported a net profit of 104.4 million yuan in the first half of 2023, down 70.2% year-on-year.

Meanwhile, the company posted 912.3 million yuan in revenue, down 40.8% year-on-year.

At the end of the reporting period, it had 3.3 billion yuan in total assets and 610.2 million yuan in total liabilities, with a liability-to-asset ratio of 18.3%.