Hailun PianoLtd's high P/S ratio is alarming considering its falling revenue. Investors overlook the weak growth rate, hoping for a business turnaround. But, without improvement, the share price may drop, bringing the P/S back to a reasonable range.

Despite Hailun PianoLtd's poor growth, its high P/S ratio indicates investor optimism for a business turnaround. However, a drop in P/S ratio in line with negative growth rates could disappoint shareholders. The company's medium-term revenue decline is concerning, especially compared to the industry's expected 23% growth next year.