Earth-Panda Advanced Magnetic Material Co.,Ltd. Posted 40.7 Million Yuan Net Loss in First Three Quarters of 2023

Earth-Panda Advanced Magnetic Material Co.,Ltd. (安徽大地熊新材料股份有限公司) (688077.SH) reported a net loss of 40.7 million yuan in the first three quarters of 2023, reversing a net profit of 142.8 million yuan for the same period in the previous year.

Meanwhile, the company posted 1 billion yuan in revenue, down 33.4% year-on-year.

At the end of the reporting period, it had 2.3 billion yuan in total assets and 1.2 billion yuan in total liabilities, with a liability-to-asset ratio of 51.8%.