Guangzhou Pearl River Piano Group Co.,Ltd.’s Net Profit Dropped 16% in First Quarter of 2022

Guangzhou Pearl River Piano Group Co.,Ltd. (广州珠江钢琴集团股份有限公司) (002678.SZ) reported a net profit of 54.3 million yuan in the first quarter of 2022, down 16% year-on-year.

Meanwhile, the company posted 482.1 million yuan in revenue, down 13.7% year-on-year.

At the end of the reporting period, it had 5.2 billion yuan in total assets and 1.5 billion yuan in total liabilities, with a liability-to-asset ratio of 28.3%.