Galaxycore Inc. Posted 22.8 Million Yuan Net Loss in First Half of 2023

Galaxycore Inc. (格科微有限公司) (688728.SH) reported a net loss of 22.8 million yuan in the first half of 2023, reversing a net profit of 513.7 million yuan for the same period in the previous year.

Meanwhile, the company posted 2 billion yuan in revenue, down 40.8% year-on-year.

At the end of the reporting period, it had 19.5 billion yuan in total assets and 11.6 billion yuan in total liabilities, with a liability-to-asset ratio of 59.7%.