Shanghai STEP Electric Corporation reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was CNY 911.04 million compared to CNY 817.56 million a year ago. Revenue was CNY 911.04 million compared to CNY 817.56 million a year ago.

Net income was CNY 130.04 million compared to net loss of CNY 19.95 million a year ago. Basic earnings per share from continuing operations was CNY 0.197 compared to basic loss per share from continuing operations of CNY 0.0307 a year ago. Diluted earnings per share from continuing operations was CNY 0.197 compared to diluted loss per share from continuing operations of CNY 0.0307 a year ago.