Guangzhou Pearl River Piano Group Co.,Ltd.’s Net Profit Dropped 43.1% in First Quarter of 2023

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 30.9 million yuan in the first quarter of 2023, down 43.1% year-on-year.

Meanwhile, the company posted 373.5 million yuan in revenue, down 22.5% year-on-year.

At the end of the reporting period, it had 5.1 billion yuan in total assets and 1.3 billion yuan in total liabilities, with a liability-to-asset ratio of 25.4%.