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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
Guangzhou Pearl River Piano Group Co., Ltd. Class A
SZSE:002678
(Shenzhen Stock Exchange)

Recent

price

4.18

P/E

ratio

- -

div

yld

0.10%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
0.86
1.06
1.12
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
Revenue per Share
0.1
0.13
0.15
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
Basic EPS, GAAP
0.08
0.03
0.04
-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
- -
Free Cash Flow per Basic Share
0.15
0.06
0.05
0.05
0.06
0.11
0.06
0.06
0.07
0.07
0.04
0.05
0.06
0.03
0.01
- -
- -
Dividend per Share
0.74
0.83
1.33
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
Book Value per Share
0.69
0.74
1.26
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
Tangible Book Value per Share
1,137
1,109
1,186
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
Basic Weighted Avg Shares
982
1,173
1,323
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
Sales/Revenue/Turnover
14.8
15.86
15.68
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
Operating Margin (%)
28
31
33
35
47
49
55
62
67
108
102
119
128
131
108
81
- -
Depreciation Expense
118
145
182
196
141
146
151
165
176
190
171
186
123
6
-236
-374
-368
Net Income, GAAP
13.64
15.52
14.39
14.48
13.95
11.13
11.93
14.38
13.16
12.16
11.83
14.07
7.55
68.09
- -
- -
- -
Effective Tax Rate (%)
12.03
12.36
13.8
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
Profit Margin (%)
586
505
1,150
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
Working Capital
140
76
67
128
62
100
- -
70
- -
55
21
68
69
33
156
241
254
LT Debt
831
930
1,662
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
Total Equity
12.77
13.57
12.36
9.99
7.11
6.94
6.23
5.27
4.78
5.01
4.31
4.73
3.03
0.08
- -
- -
- -
Return on Invested Capital (%)
12.91
14.12
12.95
10.83
7.32
7.29
7.07
6.02
5.19
5.42
4.65
4.81
3.31
0.36
- -
- -
- -
Return on Capital (%)
14.68
16.61
14.16
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
Return on Common Equity (%)

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
- -
- -
- -
- -
- -
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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.