Vanchip (Tianjin) Technology Co., Ltd. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was CNY 318.01 million compared to CNY 856.36 million a year ago. Revenue was CNY 318.01 million compared to CNY 856.36 million a year ago.

Net loss was CNY 82.59 million compared to net income of CNY 36.76 million a year ago. Basic loss per share from continuing operations was CNY 0.2 compared to basic earnings per share from continuing operations of CNY 0.1 a year ago. Diluted loss per share from continuing operations was CNY 0.2 compared to diluted earnings per share from continuing operations of CNY 0.1 a year ago.