Bafang Electric Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2023
April 28, 2023 at 12:56 am
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Bafang Electric (Suzhou) Co.,Ltd. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was CNY 451.59 million compared to CNY 761.75 million a year ago. Revenue was CNY 451.59 million compared to CNY 761.75 million a year ago.
Net income was CNY 46.58 million compared to CNY 179.56 million a year ago. Basic earnings per share from continuing operations was CNY 0.2786 compared to CNY 1.0643 a year ago. Diluted earnings per share from continuing operations was CNY 0.2786 compared to CNY 1.0643 a year ago.
Bafang Electric Suzhou Co Ltd is a China-based company primarily engaged in research and development, manufacturing, sales and technical service of electric bike motors and supporting electrical systems. The Company's main products include mid motors, rear motors, front motors, gear hubs, batteries, human machine interface (HMI) and other products, applied to mountain bikes, road bikes, city bikes and other categories of electric bikes. The Companyâs in-wheel motors products can be used in electric wheelchairs, electric scooters, garden mowers and other fields after modification. The Company conducts its business in the domestic and overseas markets.