1. China Stocks

  2. •

    Consumer durables

  3. •

    Recreational products
Guangzhou Pearl River Piano Group Co., Ltd. Class A

Guangzhou Pearl River Piano Group Co., Ltd. Class A

SSZSE:002678
4.18
CNY
+0.09
(+2.20%)
-0.27EPS
5.75BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
1.17
1.2
1.16
1.27
1.41
1.46
1.51
1.33
1.52
1.21
0.77
0.49
0.43
0.41
Basic EPS, GAAP
0.16
0.12
0.12
0.12
0.13
0.13
0.14
0.13
0.14
0.09
- -
-0.17
-0.28
-0.26
Free Cash Flow per Basic Share
-0.09
0.05
0.12
0.08
-0.01
-0.15
0.06
0.33
0.18
-0.02
-0.25
-0.31
-0.2
- -
Dividend per Share
0.05
0.06
0.11
0.06
0.06
0.07
0.07
0.04
0.05
0.06
0.03
0.01
- -
- -
Book Value per Share
1.45
1.48
1.54
1.61
2.35
2.42
2.5
2.59
2.68
2.72
2.72
2.54
2.28
2.18
Tangible Book Value per Share
1.38
1.41
1.48
1.43
2.18
2.26
2.34
2.45
2.55
2.6
2.59
2.43
2.09
1.99
Basic Weighted Avg Shares
1,216
1,223
1,265
1,231
1,267
1,356
1,355
1,312
1,329
1,370
1,470
1,386
1,336
1,397
Sales/Revenue/Turnover
1,422
1,469
1,470
1,566
1,790
1,975
2,053
1,752
2,020
1,660
1,128
677
570
566
Operating Margin (%)
15.02
10.76
10.58
10.93
4.84
9.99
9.85
9.73
9.71
6.55
-7.15
-31.05
-47.34
-40.1
Depreciation Expense
35
47
49
55
62
67
108
102
119
128
131
108
81
- -
Net Income, GAAP
196
141
146
151
165
176
190
171
186
123
6
-236
-374
-368
Effective Tax Rate (%)
14.48
13.95
11.13
11.93
14.38
13.16
12.16
11.83
14.07
7.55
68.09
- -
- -
- -
Profit Margin (%)
13.82
9.61
9.93
9.67
9.2
8.93
9.24
9.74
9.21
7.43
0.52
-34.79
-65.65
-64.99
Working Capital
1,130
1,049
1,183
836
1,904
1,585
1,766
1,823
1,978
2,119
2,119
1,911
1,625
1,439
LT Debt
128
62
100
- -
70
- -
55
21
68
69
33
156
241
254
Total Equity
1,806
1,850
1,931
2,027
3,231
3,326
3,425
3,553
3,677
3,747
3,728
3,469
3,122
2,993
Return on Invested Capital (%)
9.99
7.11
6.94
6.23
5.27
4.78
5.01
4.31
4.73
3.03
0.08
- -
- -
- -
Return on Capital (%)
10.83
7.32
7.29
7.07
6.02
5.19
5.42
4.65
4.81
3.31
0.36
- -
- -
- -
Return on Common Equity (%)
11.38
7.76
7.77
7.72
6.34
5.43
5.67
4.93
5.19
3.35
0.16
-6.59
-11.42
-11.57

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
87
76
56
LT Borrowings
216
236
231
LT Finance Leases
25
22
22
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,358
1,358
1,358
Market Capitalization
7,240
7,403
5,746

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,932
1,853
1,768
Cash, Cash Equivalents & STI
777
685
621
Accounts Receivable, Net
97
128
136
Inventories
1,003
978
951
Total Current Liabilities
307
277
329
Payables & Accruals
- -
- -
- -
ST Debt
87
76
56
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.2%
-2.41%
-9.98%
Free Cash Flow
238.26%
205.14%
-39.5%
Net Income, GAAP
-415.23%
-833.88%
58.72%
Sales/Revenue/Turnover
-6.99%
-18.08%
-15.88%
Total Cash Common Dividend
-17.75%
-22.76%
-25.97%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
213
151
163
150
677
2025
124
117
- -
184
570
2026
142
123
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.01
-0.04
-0.05
-0.07
-0.17
2025
-0.04
-0.06
- -
-0.11
-0.28
2026
-0.03
-0.06
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.01
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Wei Xiao
Full Time Employees
1,900
Sector
Consumer durables
Industry
Recreational products
Address
Building 1, Factory Building (Self-numbered Building 3) Guangzhou GD China 511340
IPO Date
May 18, 2012
Website
pearlriverpiano.com
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Business
Guangzhou Pearl River Piano Group Co., Ltd. (002678.SZ) manufactures and distributes pianos and related musical instruments. The company produces grand pianos, upright pianos, digital pianos, and electronic organs under brands including Pearl River, Ritmüller, and Schumann; it also offers piano accessories, sheet music, and music education services. Guangzhou Pearl River Piano Group operates primarily in China with export markets in Europe, North America, and Asia. Founded in 1956 and headquartered in Guangzhou, China, the company serves professional musicians, music schools, and retail consumers through its subsidiaries and distribution network. In recent developments, the company expanded its production capacity through strategic investments in automated manufacturing facilities in 2024 and formed a technology partnership with a leading German piano component supplier to enhance product quality.