Bafang Electric(Suzhou) Co.,Ltd.’s Net Profit Dropped 74.6% in First Three Quarters 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 120.5 million yuan in the first three quarters of 2023, down 74.6% year-on-year.

Meanwhile, the company posted 1.3 billion yuan in revenue, down 43.3% year-on-year.

At the end of the reporting period, it had 3.4 billion yuan in total assets and 646 million yuan in total liabilities, with a liability-to-asset ratio of 19.1%.