证券代码：002678 证券简称：珠江钢琴 公告编号：2025-026 广州珠江钢琴集团股份有限公司 第四届董事会第三十四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 广州珠江钢琴集团股份有限公司（以下简称"公司"）2025 年 4 月 30 日以 电子邮件及书面送达的方式发出会议通知及会议资料，于 2025 年 5 月 6 日下午 14:00 在公司文化中心五楼会议室以通讯会议方式召开第四届董事会第三十四次 会议。会议应参加表决董事 7 名，实际参加表决董事 7 名。全部为通讯表决。 本次会议的召开符合《中华人民共和国公司法》《广州珠江钢琴集团股份有 限公司章程》及《广州珠江钢琴集团股份有限公司董事会议事规则》相关规定。 一、会议形成以下决议： （一）以 7 票同意、0 票否决、0 票弃权，审议通过《关于聘任公司副总经 理的议案》 根据《公司法》《深圳证券交易所股票上市规则》《深圳证券交易所上市公 司自律监管指引第1号——主板上市公司规范运作》《公司章程》的相关规定， 经公司总经理提名，董事会提名委员会资格审查，董事会同意聘任于富瑜女士、 ...

珠江钢琴（002678）公告，公司于2025年5月6日召开第四届董事会第三十四次会议，审议通过《关于聘 任公司副总经理的议案》。经总经理提名，董事会提名委员会资格审查，董事会同意聘任于富瑜、陈 嘉、杨小强担任公司副总经理，任期与本届董事会一致。于富瑜、陈嘉、杨小强均具备相关法律法规和 《公司章程》规定的任职条件，不存在不得担任公司高级管理人员的情形。 ...

Core Viewpoint - The piano industry is facing significant challenges, with major players like Pearl River Piano and Helen Piano experiencing substantial declines in revenue and profit due to shrinking market demand and increased competition [1][3][4]. Group 1: Company Performance - Pearl River Piano reported Q1 2025 revenue of 124 million yuan, a year-on-year decline of 42.11% and a quarter-on-quarter decrease of 17.78% [1]. - The company's net profit attributable to shareholders was a loss of 51.68 million yuan, a year-on-year drop of 162.52%, although it improved by 47.08% compared to the previous quarter [1]. - Helen Piano's Q1 revenue was 27.76 million yuan, down 39.96% year-on-year and 28.71% quarter-on-quarter, with a net loss of 9.68 million yuan, a 154.56% decline year-on-year but an 88.38% increase from the previous quarter [1][3]. Group 2: Market Trends - The piano market has seen a drastic reduction in sales, with total sales dropping from 356,000 units in 2018 to 128,000 units in 2023, a decline of 64%, and projections indicate sales may fall below 100,000 units in 2024 [3]. - The decline in demand is attributed to the cancellation of the art bonus policy by the Ministry of Education in 2018 and the introduction of the "double reduction" policy, alongside factors like disposable income [3]. Group 3: Industry Challenges - The rising costs of piano manufacturing due to increased competition and complex production processes are squeezing profit margins for manufacturers [3]. - The second-hand piano market is also impacting new piano sales, with listings often priced at less than one-tenth of the original price [4]. Group 4: Strategic Responses - Pearl River Piano is transitioning towards smart pianos and expanding into areas like art training and cultural tourism, establishing a wholly-owned subsidiary for this purpose [4]. - Helen Piano is focusing on promoting smart electric pianos while exploring diversified development paths [4]. Group 5: Future Outlook - The chairman of the China Musical Instrument Association indicated that the current adjustment period is a necessary phase in the development cycle of the piano industry, suggesting potential for recovery as companies adapt their business models and product structures [5].

Financial Performance - The company reported a basic earnings per share of -0.0400 yuan for Q1 2025, a decrease of 300% compared to Q1 2024's -0.0100 yuan and a decline from Q1 2023's 0.0200 yuan [1] - The operating revenue for Q1 2025 was 1.24 billion yuan, down 41.78% from 2.13 billion yuan in Q1 2024 and significantly lower than 3.73 billion yuan in Q1 2023 [1] - The net profit for Q1 2025 was -0.52 billion yuan, representing a 160% decrease from -0.2 billion yuan in Q1 2024 and a drop from 0.31 billion yuan in Q1 2023 [1] - The return on equity for Q1 2025 was -1.51%, a decline of 184.91% compared to -0.53% in Q1 2024 and a decrease from 0.91% in Q1 2023 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 115,346.78 million shares, accounting for 84.97% of the circulating shares, with an increase of 647,000 shares compared to the previous period [2] - Guangzhou Urban Construction Investment Group Co., Ltd. holds 69,274.34 million shares, representing 51.03% of the total share capital, with no change [2] - Guangzhou Industrial Investment Holding Group Co., Ltd. holds 22,277.70 million shares, accounting for 16.41%, also unchanged [2] - The Guangdong Provincial Finance Department holds 10,172.45 million shares, representing 7.49%, with no change [2] - A new entry in the top shareholders is Qu Binhui, holding 456.45 million shares, which accounts for 0.34% [2] Dividend Policy - The company has decided not to distribute dividends or transfer shares this time [3]

证券代码：002678 证券简称：珠江钢琴 公告编号：2025-025 广州珠江钢琴集团股份有限公司 关于部分固定资产折旧年限会计估计变更的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、会计估计变更概述 （一）会计估计变更的原因 根据《企业会计准则第 4 号——固定资产》第十九条规定："企业至少应当于每 年年度终了，对固定资产的使用寿命、预计净残值和折旧方法进行复核。使用寿命 预计数与原先估计数有差异的，应当调整固定资产使用寿命"。 随着科技发展，新材料、新技术在建筑领域广泛应用，房屋及建筑物在设计水 平与施工标准上显著提升。同时，公司持续强化对房屋及建筑物的定期保养和检修 工作，使得房屋、建筑物及构筑物运行状态良好，经评估其预计使用寿命较原估计 更长。为更准确、公允地反映公司资产状况和经营成果，确保固定资产折旧年限与 实际使用寿命高度契合，使计提折旧期间更为合理，公司决定对部分固定资产折旧 年限进行会计估计变更。 （二）变更前后固定资产折旧年限介绍 特别提示： 广州珠江钢琴集团股份有限公司（以下简称"公司"）于 2025 年 4 月 29 日召 ...

《2025 年第一季度报告》具体内容详见巨潮资讯网（www.cninfo.com.cn）、《证 券时报》、《中国证券报》及《证券日报》。 证券代码：002678 证券简称：珠江钢琴 公告编号：2025-023 广州珠江钢琴集团股份有限公司 第四届监事会第二十一次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 广州珠江钢琴集团股份有限公司（以下简称"公司"）于2025年4月24日以书面 送达及电子邮件方式发出会议通知和议案资料，于2025年4月29日下午14:30以通讯 会议方式在公司监事会办公室召开第四届监事会第二十一次会议。会议应出席监事3 名，实到监事3名。本次会议由监事会主席唐和平主持，会议的召集及召开符合《中 华人民共和国公司法》和《公司章程》等有关规定，合法有效。 一、本次会议审议情况 （一）以 3 票同意、0 票否决、0 票弃权，审议通过《2025 年第一季度报告》 二〇二 五 年 四 月二十九 日 （二）以 3 票同意、0 票否决、0 票弃权，审议通过《关于部分固定资产折旧 年限会计估计变更的议案》 经审核，监事会认为：本次会计估计 ...

证券代码：002678 证券简称：珠江钢琴 公告编号：2025-022 广州珠江钢琴集团股份有限公司 第四届董事会第三十三次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 广州珠江钢琴集团股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日以电 子邮件及书面送达的方式发出会议通知及会议资料，于 2025 年4 月 29日下午 15:00 以通讯会议的方式在公司文化中心五楼会议室召开第四届董事会第三十三次会 议。会议应参加表决董事 7 名，实际参加表决董事 7 名，全部采用通讯方式表决。 本次会议的召开符合《中华人民共和国公司法》《广州珠江钢琴集团股份有 限公司章程》及《广州珠江钢琴集团股份有限公司董事会议事规则》的规定。 一、会议形成以下决议 （一）以 7 票同意、0 票否决、0 票弃权，审议通过《2025 年第一季度报告》 《2025 年第一季度报告》具体内容详见巨潮资讯网（www.cninfo.com.cn）、 《证券时报》、《中国证券报》及《证券日报》。 （二）以 7 票同意、0 票否决、0 票弃权，审议通过《关于部分固定资产 ...

珠江钢琴（002678）公告，2025年第一季度营业收入1.24亿元，同比下降42.11%。净亏损5168.47万 元，去年同期净亏损1968.77万元。 ...

Financial Performance - The company's revenue for Q1 2025 was ¥123,513,992.29, a decrease of 42.11% compared to the same period last year[4]. - The net profit attributable to shareholders was -¥51,684,654.06, representing a decline of 162.52% year-over-year[4]. - Total operating revenue for the first quarter was CNY 123,513,992.29, a decrease of 42.1% compared to CNY 213,344,138.20 in the previous period[26]. - Net loss for the period was CNY 53,360,132.66, compared to a net loss of CNY 21,040,725.93 in the same period last year, indicating a significant increase in losses[28]. - The company’s weighted average return on equity was -1.51%, a decrease of 0.98% compared to the previous year[4]. - The company reported a basic and diluted earnings per share of -CNY 0.0400, compared to -CNY 0.0100 in the previous period[30]. Cash Flow - The net cash flow from operating activities improved by 60.25%, amounting to -¥70,273,837.06[11]. - Cash flow from operating activities was CNY 105,247,677.85, down from CNY 131,578,544.23, representing a decline of 20.0%[31]. - The net cash flow from operating activities was -70,273,837.06, compared to -176,777,560.83 in the previous year, indicating an improvement[32]. - Total cash inflow from investment activities was 224,964,361.40, significantly higher than 18,198,023.42 in the previous year[32]. - The net cash flow from investment activities was 69,595,395.22, compared to -14,925,363.61 in the previous year, showing a positive trend[32]. - Cash outflow from financing activities totaled 21,936,268.83, down from 152,262,409.12 in the previous year[34]. - The net cash flow from financing activities was -21,936,268.83, an improvement from -132,262,409.12 in the previous year[34]. - The ending cash and cash equivalents balance was 818,639,021.31, slightly down from 832,325,658.65 in the previous year[34]. - The company received 224,000,000.00 in cash from investment recoveries, marking a significant inflow[32]. - Cash paid for the purchase of fixed assets and other long-term assets was 1,368,966.18, down from 33,123,387.03 in the previous year[32]. - The company reported a cash inflow of 720,191.40 from investment income, compared to 23.42 in the previous year[32]. - The company’s cash flow from operating activities showed a decrease in outflows, with total cash outflow at 192,519,482.75 compared to 338,827,419.33 in the previous year[32]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,886,182,188.35, down 2.51% from the previous year[4]. - The company reported a total asset of RMB 3,886,182,188.35 as of the end of the first quarter, down from RMB 3,986,116,422.59 at the beginning of the quarter, indicating a decrease of approximately 2.5%[20]. - The company's total liabilities decreased to CNY 470,932,795.66 from CNY 517,506,897.24, a reduction of 9.0%[24]. - The total equity attributable to shareholders decreased to CNY 3,399,086,343.56 from CNY 3,450,770,997.62, a decline of 1.5%[24]. - The company’s non-current assets totaled RMB 1,751,384,996.66, slightly down from RMB 1,763,172,302.25, indicating a decrease of about 0.7%[20]. - The company’s total current assets amounted to RMB 2,134,797,191.69, down from RMB 2,222,944,120.34, indicating a decrease of about 4.0%[20]. Operational Metrics - The accounts receivable increased by 37.25% to ¥65,676,670.35, attributed to seasonal sales collection cycles[7]. - The management expenses rose by 44.97% to ¥43,115,415.69, primarily due to increased severance payments[8]. - The company experienced a 38.02% decrease in operating costs, totaling ¥111,011,451.72, due to reduced revenue[8]. - Total operating costs amounted to CNY 176,149,533.31, down from CNY 233,088,442.90, reflecting a reduction of 24.4%[26]. - Research and development expenses were CNY 8,310,025.51, down from CNY 11,576,672.79, a decrease of 28.5%[28]. - Inventory decreased to RMB 1,148,450,691.92 from RMB 1,170,510,073.61, showing a reduction of about 1.9%[20]. Strategic Initiatives - The company plans to invest RMB 20 million to establish a wholly-owned subsidiary focused on cultural tourism business development[17]. - A strategic cooperation agreement was signed with Lehai Musical Instruments Co., Ltd. to enhance the national musical instrument industry towards high-end, intelligent, and international development[17]. - The company established a joint venture named Lehai National Musical Instrument Development (Hebei) Co., Ltd. with Lehai Enterprise Management Consulting (Cangzhou) Co., Ltd.[17].

企查查APP显示，近日，广州珠江文之旅投资发展有限公司成立，法定代表人为刘春清，注册资本为2 亿元，经营范围包含：游览景区管理；名胜风景区管理；旅游开发项目策划咨询；酒店管理；餐饮管 理；物业管理；商业综合体管理服务。企查查股权穿透显示，该公司由珠江钢琴（002678）全资持股。 ...