Gelonghui, January 30丨Pearl River Piano (002678.SZ) announced its 2023 annual performance forecast. Net profit attributable to shareholders of listed companies during the reporting period was 3.85 million yuan to 5 million yuan, down 95.94% — 96.88% from the same period last year; net profit loss after deducting non-recurring profit and loss was 41 million yuan to 53 million yuan, down 137.62% to 148.63% from the same period last year; basic profit income per share was 0 yuan/share — 0.01 yuan/share.
Reasons for changes in performance: 1. During the reporting period, due to factors such as the musical instrument industry, the company's piano sales declined sharply, and operating income decreased compared to the same period last year; in addition, due to declining production and rising manufacturing costs per unit, the company's operating profit declined sharply compared to the same period last year. 2. Facing challenges such as changes in the market environment, the company actively adjusted its marketing strategy, continuously expanded the breadth and depth of sales channels, carried out sales on an Internet all-media platform, promoted and sold the company's products through short videos, live streaming, etc., and increased brand promotion and marketing efforts, and sales expenses increased year-on-year. 3. In line with changes in the piano business market, the company adjusted its personnel structure and increased personnel optimization expenses during the reporting period.