中商官网
研究报告
珠江钢琴（002678）
主要经济指标
| 类别\年份 | 营业收入 （元) |
营业利润 （元) |
利润总额 （元) |
净利润 （元) |
资产总计 （元) |
负债合计 （元) |
股东权益合计 （元) |
| 2009 | 846000000.0000 | 101000000.0000 | 104000000.0000 | 86685400.0000 | 1257000000.0000 | 464000000.0000 | 793000000.0000 |
| 2010 | 982000000.0000 | 138000000.0000 | 138000000.0000 | 119000000.0000 | 1274000000.0000 | 443000000.0000 | 831000000.0000 |
| 2011 | 1173000000.0000 | 171000000.0000 | 172000000.0000 | 146000000.0000 | 1375000000.0000 | 445000000.0000 | 930000000.0000 |
| 2012 | 1323000000.0000 | 207000000.0000 | 214000000.0000 | 183000000.0000 | 2000000000.0000 | 338000000.0000 | 1662000000.0000 |
| 2013 | 1422000000.0000 | 213000000.0000 | 231000000.0000 | 197000000.0000 | 2267000000.0000 | 461000000.0000 | 1806000000.0000 |
| 2014 | 1469000000.0000 | 163000000.0000 | 164000000.0000 | 142000000.0000 | 2373000000.0000 | 523000000.0000 | 1850000000.0000 |
| 2015 | 1470000000.0000 | 162000000.0000 | 165000000.0000 | 147000000.0000 | 2464000000.0000 | 533000000.0000 | 1931000000.0000 |
| 2016 | 1566000000.0000 | 162000000.0000 | 172000000.0000 | 151000000.0000 | 2895000000.0000 | 868000000.0000 | 2027000000.0000 |
| 2017 | 1790000000.0000 | 187000000.0000 | 187000000.0000 | 160000000.0000 | 4170000000.0000 | 939000000.0000 | 3231000000.0000 |
| 2018 | 1975000000.0000 | 202000000.0000 | 200000000.0000 | 174000000.0000 | 4376000000.0000 | 1050000000.0000 | 3326000000.0000 |
| 2019 | 2053000000.0000 | 216000000.0000 | 213000000.0000 | 187000000.0000 | 4471000000.0000 | 1045000000.0000 | 3425000000.0000 |
| 2020 | 1752000000.0000 | 193000000.0000 | 196000000.0000 | 173000000.0000 | 4798000000.0000 | 1245000000.0000 | 3553000000.0000 |
| 2021 | 2020000000.0000 | 224000000.0000 | 222000000.0000 | 191000000.0000 | 5021000000.0000 | 1344000000.0000 | 3677000000.0000 |
| 2022 | 1660000000.0000 | 138000000.0000 | 136000000.0000 | 125000000.0000 | 5118000000.0000 | 1371000000.0000 | 3747000000.0000 |
| 2023 | 1128000000.0000 | 10589800.0000 | 5397000.0000 | 1722000.0000 | 4557000000.0000 | 828000000.0000 | 3728000000.0000 |
| 2024 | 677000000.0000 | -269000000.0000 | -276000000.0000 | -248000000.0000 | 3986000000.0000 | 518000000.0000 | 3469000000.0000 |
| 2025 | 570000000.0000 | -350000000.0000 | -356000000.0000 | -381000000.0000 | 3819000000.0000 | 697000000.0000 | 3122000000.0000 |
盈利能力分析
| 类别\年份 | 销售毛利率 （%) |
营业利润率 （%) |
总资产利润率 （%) |
净资产收益率 | 存货周转率 | 应收账款周转率 （次) |
总资产周转率 （次) |
| 2009 | 11.82 | 12.29 | 8.27 | 12.6200 | 1.4200 | 6.95 | 0.67 |
| 2010 | 14.05 | 14.05 | 10.83 | 14.6400 | 1.5600 | 9.85 | 0.77 |
| 2011 | 14.58 | 14.66 | 12.51 | 16.8600 | 1.6900 | 16.57 | 0.85 |
| 2012 | 15.57 | 16.18 | 10.70 | 13.8200 | 1.6500 | 18.60 | 0.66 |
| 2013 | 14.63 | 16.24 | 10.19 | 11.3700 | 1.4900 | 14.67 | 0.63 |
| 2014 | 10.21 | 11.16 | 6.91 | 7.9000 | 1.4100 | 12.18 | 0.62 |
| 2015 | 10.14 | 11.22 | 6.70 | 7.7700 | 1.3900 | 11.51 | 0.60 |
| 2016 | 9.83 | 10.98 | 5.94 | 7.7500 | 1.4300 | 12.88 | 0.54 |
| 2017 | 1.34 | 10.45 | 4.48 | 6.9000 | 1.5000 | 17.99 | 0.43 |
| 2018 | 7.34 | 10.13 | 4.57 | 5.4500 | 1.6000 | 23.08 | 0.45 |
| 2019 | 8.33 | 10.38 | 4.76 | 5.7000 | 1.5400 | 25.46 | 0.46 |
| 2020 | 8.73 | 11.19 | 4.09 | 4.9400 | 1.3200 | 23.18 | 0.37 |
| 2021 | 9.70 | 10.99 | 4.42 | 5.1900 | 1.5000 | 28.78 | 0.40 |
| 2022 | 6.02 | 8.19 | 2.66 | 3.3600 | 1.1600 | 27.82 | 0.32 |
| 2023 | -6.03 | 0.48 | 0.12 | 0.1600 | 0.7500 | 23.84 | 0.25 |
| 2024 | -41.95 | -40.77 | -6.92 | -6.5900 | 0.5000 | 15.38 | 0.17 |
| 2025 | -64.39 | -62.46 | -9.32 | -11.4300 | 0.5100 | 7.87 | 0.15 |
偿债能力分析
| 类别\年份 | 资产负债率 （%) |
股东权益比率 （%) |
流动比率 | 速动比率 |
| 2009 | 36.91 | 63.09 | 1.9600 | 1.0200 |
| 2010 | 34.77 | 65.23 | 3.0500 | 1.4300 |
| 2011 | 32.36 | 67.64 | 2.4300 | 0.9800 |
| 2012 | 16.90 | 83.10 | 5.4300 | 2.8900 |
| 2013 | 20.34 | 79.66 | 5.3800 | 2.5800 |
| 2014 | 22.04 | 77.96 | 3.6000 | 1.6500 |
| 2015 | 21.63 | 78.37 | 4.2500 | 2.0100 |
| 2016 | 29.98 | 70.02 | 2.1000 | 0.9400 |
| 2017 | 22.52 | 77.48 | 3.4400 | 1.1800 |
| 2018 | 23.99 | 76.01 | 2.6200 | 0.8000 |
| 2019 | 23.37 | 76.60 | 2.9300 | 1.7900 |
| 2020 | 25.95 | 74.05 | 2.5500 | 1.7000 |
| 2021 | 26.77 | 73.23 | 2.6300 | 1.7500 |
| 2022 | 26.79 | 73.21 | 2.7100 | 1.7600 |
| 2023 | 18.17 | 81.81 | 3.8800 | 2.1300 |
| 2024 | 13.00 | 87.03 | 7.1300 | 3.2800 |
| 2025 | 18.25 | 81.75 | 6.2900 | 2.8900 |
成本费用分析
| 类别\年份 | 营业成本 （元) |
销售费用 （元) |
管理费用 （元) |
财务费用 （元) |
| 2009 | 746000000.0000 | 44069300.0000 | 98276900.0000 | 3519200.0000 |
| 2010 | 844000000.0000 | 62914100.0000 | 103000000.0000 | 2816600.0000 |
| 2011 | 1002000000.0000 | 68020600.0000 | 121000000.0000 | 6936200.0000 |
| 2012 | 1117000000.0000 | 71608500.0000 | 135000000.0000 | 4937900.0000 |
| 2013 | 1214000000.0000 | 74088500.0000 | 146000000.0000 | 3225100.0000 |
| 2014 | 1319000000.0000 | 89760600.0000 | 157000000.0000 | 7295900.0000 |
| 2015 | 1321000000.0000 | 87090000.0000 | 163000000.0000 | 7059900.0000 |
| 2016 | 1412000000.0000 | 106000000.0000 | 187000000.0000 | 11062800.0000 |
| 2017 | 1766000000.0000 | 144000000.0000 | 256000000.0000 | 11336000.0000 |
| 2018 | 1830000000.0000 | 164000000.0000 | 155000000.0000 | 20345700.0000 |
| 2019 | 1882000000.0000 | 142000000.0000 | 169000000.0000 | 14208400.0000 |
| 2020 | 1599000000.0000 | 64895800.0000 | 137000000.0000 | 16815800.0000 |
| 2021 | 1824000000.0000 | 66236700.0000 | 144000000.0000 | 16618600.0000 |
| 2022 | 1560000000.0000 | 68146800.0000 | 129000000.0000 | 19709300.0000 |
| 2023 | 1196000000.0000 | 73399800.0000 | 153000000.0000 | 15375900.0000 |
| 2024 | 961000000.0000 | 59151900.0000 | 167000000.0000 | 6029100.0000 |
| 2025 | 937000000.0000 | 64215000.0000 | 170000000.0000 | 4575500.0000 |