G 
Guangdong Piano Customized Furniture Co 002853.SZ · CNY
Consumer Discretionary · Shenzhen · 🇨🇳 China
18.88
-0.32%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥566.7m
FY2016FY2025
Net income
−CN¥38.7m
FY2016FY2025
Free cash flow
−CN¥77.7m
FY2016FY2025
Shareholders' equity
CN¥900.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥566.7m | CN¥885.9m | CN¥1.32bn | CN¥1.45bn | CN¥1.82bn | CN¥1.49bn | CN¥1.47bn | CN¥1.11bn | CN¥826.5m | CN¥630.4m |
| Gross profit | CN¥144.7m | CN¥207.3m | CN¥383.9m | CN¥436.2m | CN¥580.2m | CN¥508.2m | CN¥521.7m | CN¥399.1m | CN¥284.7m | CN¥238.6m |
| Research and development | CN¥18.4m | CN¥35.9m | CN¥59.7m | CN¥47.0m | CN¥51.6m | CN¥45.9m | CN¥37.4m | CN¥35.8m | CN¥26.7m | CN¥19.8m |
| Operating income | −CN¥6.3m | −CN¥395.7m | CN¥90.7m | CN¥169.2m | −CN¥687.6m | CN¥256.9m | CN¥199.9m | CN¥162.6m | CN¥120.2m | CN¥98.0m |
| Net income | −CN¥38.7m | −CN¥374.8m | CN¥86.0m | CN¥153.6m | −CN¥728.8m | CN¥196.9m | CN¥175.2m | CN¥142.1m | CN¥103.0m | CN¥87.5m |
| Diluted earnings per share | -0.19 | -2.91 | 0.46 | 0.80 | -3.89 | 1.29 | 1.12 | 0.88 | 0.55 | 0.42 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.40bn | CN¥1.54bn | CN¥2.31bn | CN¥2.42bn | CN¥2.39bn | CN¥3.13bn | CN¥2.00bn | CN¥1.59bn | CN¥1.34bn | CN¥645.1m |
| Cash and short-term investments | — | CN¥349.2m | CN¥617.6m | CN¥712.2m | CN¥801.0m | CN¥1.29bn | CN¥551.5m | CN¥397.8m | CN¥136.5m | CN¥242.8m |
| Total liabilities | CN¥506.5m | CN¥604.4m | CN¥962.1m | CN¥1.16bn | CN¥1.24bn | CN¥1.12bn | CN¥760.8m | CN¥487.9m | CN¥391.8m | CN¥264.4m |
| Debt | CN¥49.6m | CN¥116.1m | CN¥50.3m | CN¥172.0m | CN¥228.0m | CN¥108.8m | CN¥25.7m | CN¥91.9m | CN¥59.7m | CN¥11.0m |
| Shareholders' equity | CN¥900.7m | CN¥939.4m | CN¥1.35bn | CN¥1.26bn | CN¥1.15bn | CN¥1.92bn | CN¥1.17bn | CN¥1.03bn | CN¥910.9m | CN¥380.7m |
| Shares outstanding | 205m | 129m | 187m | 192m | 187m | 153m | 157m | 161m | 187m | 211m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥43.4m | −CN¥132.8m | CN¥197.2m | CN¥174.0m | −CN¥321.5m | CN¥218.3m | CN¥100.7m | CN¥10.3m | CN¥89.9m | CN¥98.6m |
| Capital spending | −CN¥34.2m | −CN¥80.5m | −CN¥140.8m | −CN¥158.3m | −CN¥206.5m | −CN¥94.3m | −CN¥168.6m | −CN¥157.7m | −CN¥66.0m | −CN¥27.6m |
| Free cash flow | −CN¥77.7m | −CN¥213.3m | CN¥56.4m | CN¥15.7m | −CN¥528.0m | CN¥123.9m | −CN¥67.9m | −CN¥147.4m | CN¥23.9m | CN¥71.0m |
| Dividends paid | −CN¥188,978 | −CN¥37.1m | −CN¥7.3m | −CN¥10.9m | −CN¥46.6m | −CN¥40.4m | −CN¥31.1m | −CN¥34.3m | −CN¥18.6m | −CN¥18.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥107.6m | CN¥82.6m | CN¥147.0m | CN¥151.6m | CN¥141.8m | CN¥126.2m | CN¥216.9m | CN¥217.3m |
| Gross profit | CN¥19.7m | CN¥17.7m | CN¥41.0m | CN¥42.9m | CN¥36.2m | CN¥24.6m | CN¥49.5m | CN¥53.2m |
| Operating income | −CN¥12.9m | −CN¥9.3m | −CN¥5.5m | CN¥6.6m | −CN¥10.3m | −CN¥3.0m | −CN¥407.5m | CN¥3.6m |
| Net income | CN¥7.0m | −CN¥11.1m | −CN¥31.2m | CN¥5.1m | −CN¥8.6m | −CN¥4.0m | −CN¥383.0m | CN¥3.8m |
| Diluted earnings per share | 0.03 | -0.05 | -0.15 | 0.02 | -0.04 | -0.02 | -2.97 | 0.03 |
| Cash from operations | — | — | — | CN¥14.0m | CN¥28.0m | −CN¥18.0m | — | CN¥2.0m |
| Capital spending | — | −CN¥1.0m | −CN¥7.0m | −CN¥10.0m | −CN¥3.0m | −CN¥13.0m | −CN¥51.0m | −CN¥15.0m |
| Free cash flow | — | — | — | CN¥4.0m | CN¥25.0m | −CN¥31.0m | — | −CN¥13.0m |
| Total assets | CN¥1.34bn | CN¥1.42bn | CN¥1.40bn | CN¥1.47bn | CN¥1.48bn | CN¥1.54bn | CN¥1.54bn | CN¥2.03bn |
| Cash and short-term investments | — | — | — | CN¥371.4m | CN¥369.3m | CN¥391.3m | CN¥349.2m | CN¥405.8m |
| Debt | CN¥49.6m | CN¥49.6m | CN¥49.6m | CN¥73.7m | CN¥120.8m | CN¥41.1m | — | — |
| Shareholders' equity | CN¥888.6m | CN¥889.6m | CN¥900.7m | CN¥931.9m | CN¥926.8m | CN¥935.4m | CN¥939.4m | CN¥1.32bn |
Financial ratios
Data as of 14 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 25.5% | 23.4% | 29.2% | 30.0% | 31.8% | 34.0% |
| Operating margin | -7.6% | -44.9% | 7.2% | 12.4% | -36.9% | 17.8% |
| Net margin | -6.8% | -42.3% | 6.5% | 10.6% | -40.0% | 13.2% |
| Return on equity | -4.3% | -39.9% | 6.4% | 12.1% | -63.3% | 10.3% |
| Return on assets | -2.8% | -24.4% | 3.7% | 6.3% | -30.5% | 6.3% |
| Free cash flow yield | -0.2% | -1.9% | 8.5% | 8.2% | -2.9% | 9.7% |
| Revenue growth | -36.0% | -32.7% | -9.3% | -20.4% | 22.1% | 1.5% |
| Earnings growth | -89.7% | -535.9% | -44.0% | -121.1% | -470.0% | 12.4% |
| Current ratio | 1.60x | 1.28x | 1.54x | 1.54x | 1.51x | 2.48x |
| Debt to equity | 0.06x | 0.12x | 0.04x | 0.14x | 0.20x | 0.06x |
| Equity ratio | 64.5% | 61.2% | 58.5% | 52.2% | 48.1% | 61.4% |
| Interest coverage | -113.05x | -480.26x | 13.04x | 15.95x | -50.09x | 27.41x |
| R&D as a share of sales | 3.2% | 4.0% | 4.5% | 3.2% | 2.8% | 3.1% |
| Buybacks as a share of market value | -59.2% | 31.3% | 2.5% | -2.8% | -22.3% | 2.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -26.9% | -17.6% | 1.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 24.2% | 27.8% | 30.0% | 32.4% |
| Operating margin | -27.7% | -3.4% | -7.6% | 0.7% |
| Net margin | -28.5% | -4.1% | -9.4% | -1.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -111.1 | -3.8 | 28.1 | 24.4 | -4.5 | 19.0 | 16.3 | 20.8 | 60.5 |
| Price to sales | 7.6 | 1.6 | 1.8 | 2.6 | 1.8 | 2.5 | 1.9 | 2.7 | 7.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 9 Jul 2024.
| FY2024 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.20 | 0.25 | 0.26 | 0.20 | 0.16 | 0.12 |
- 5-for-2 split · 1 Sept 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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