Guangdong Piano Customized Furniture Co.Ltd(002853) : the loss revenue caused by withdrawing bad debts increased by 20-30% year-on-year

Guangdong Piano Customized Furniture Co.Ltd(002853) (002853) released the performance forecast for 2021 today. The company expects to achieve an operating revenue of 1792346900 yuan to 1941709200 yuan in 2021, with a year-on-year increase of 20.00% to 30.00%, and achieved positive growth against the background of the overall depression of the real estate market last year.

In addition, according to the announcement, Guangdong Piano Customized Furniture Co.Ltd(002853) will withdraw bad debt reserves for businesses related to major customers, resulting in a loss of net profit. However, if the impact of impairment provision is not considered, the net profit attributable to shareholders of Listed Companies in 2021 is expected to increase by 49.2347 million yuan to 58.623 million yuan over the same period of the previous year, with a year-on-year increase of 25.00% to 35.00%.

The company said that the revenue growth was mainly reflected in: in the retail business, it continued to promote the construction of medium and high-end brands, and increased the single customer value and single store revenue through comprehensive case marketing. According to the data, in the first three quarters of 2021, Guangdong Piano Customized Furniture Co.Ltd(002853) the single value of cabinet cases was flat, the single value of wardrobe cases increased by 9.19% year-on-year, and the single store revenue increased by 21.41% year-on-year; In terms of engineering business, we focused more on high-quality core real estate developers, reached in-depth strategic cooperation with poly, CNOOC, China Resources, ocean shipping, Longhu, etc., actively promoted and expanded wardrobe, storage and other products other than cabinets, and increased the sales share of real estate enterprises; At the same time, the company increased the sales proportion of Engineering dealers.

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