Shanghai Hugong Electric Group Co.,Ltd.’s Net Profit Dropped 26% in First Three Quarters of 2023

Shanghai Hugong Electric Group Co.,Ltd. (上海沪工焊接集团股份有限公司) (603131.SH) reported a net profit of 43.5 million yuan in the first three quarters of 2023, down 26% year-on-year.

Meanwhile, the company posted 669.7 million yuan in revenue, down 6.1% year-on-year.

At the end of the reporting period, it had 2.3 billion yuan in total assets and 939.7 million yuan in total liabilities, with a liability-to-asset ratio of 41.8%.