Hailun Piano Co Ltd

Hailun Piano released its 2026 interim report, showing total operating revenue of 49.66 million yuan, down 12.33 percent year on year, and a net loss attributable to the parent company of 49.37 million yuan, an increase in losses of 24.94 million yuan compared with the same period last year. Net cash flow from operating activities was negative 82.45 million yuan, a year-on-year decrease of 65.92 million yuan. The company's asset-liability ratio was 46.54 percent, gross margin was 16.04 percent, return on equity was negative 8.59 percent, and diluted earnings per share was negative 0.20 yuan. The number of shareholders was 11,500, and the top ten shareholders held 49.47 percent of the total share capital.