Zhejiang Canaan Technology Limited’s Net Profit Dropped 33.6% in First Three Quarters of 2023

Zhejiang Canaan Technology Limited (浙江迦南科技股份有限公司) (300412.SZ) reported a net profit of 28.9 million yuan in the first three quarters of 2023, down 33.6% year-on-year.

Meanwhile, the company posted 765.5 million yuan in revenue, up 1.1% year-on-year.

At the end of the reporting period, it had 2.6 billion yuan in total assets and 1.5 billion yuan in total liabilities, with a liability-to-asset ratio of 56.7%.