Guangzhou Pearl River Piano Group Co Ltd

Pearl River Piano released its 2026 interim report, with net profit attributable to the parent company at minus 126 million yuan, a loss narrowed by 11.6966 million yuan compared with the same period last year. Total operating revenue was 265 million yuan, up 10.24 percent year on year. Net cash flow from operating activities was minus 79.5685 million yuan, marking three consecutive years of improvement. The company's latest asset-liability ratio was 19.32 percent, gross margin was 8.41 percent, and return on equity was minus 4.26 percent.

Pearl River Piano disclosed its performance forecast, expecting a net loss attributable to shareholders of 115 million to 135 million yuan in the first half of 2026, compared with a loss of 138 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 116 million to 136 million yuan, compared with a loss of 139 million yuan a year earlier. Basic loss per share is estimated at 0.08 to 0.1 yuan. The company stated that overall momentum in the musical instrument consumer market remains weak, and demand for the traditional piano business is sluggish, putting pressure on main business revenue. However, through measures such as optimizing production capacity, integrating resources, and reducing costs, the loss margin has narrowed year-on-year.