S 
Southern Publishing and Media Co 601900.SS · CNY
Communication Services · Shanghai · 🇨🇳 China
15.24
-3.73%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥8.64bn
FY2016FY2025
Net income
CN¥1.04bn
FY2016FY2025
Free cash flow
CN¥985.2m
FY2016FY2025
Shareholders' equity
CN¥8.83bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥8.64bn | CN¥9.17bn | CN¥9.37bn | CN¥9.06bn | CN¥8.50bn | CN¥6.90bn | CN¥6.53bn | CN¥5.60bn | CN¥5.25bn | CN¥4.92bn |
| Gross profit | CN¥3.13bn | CN¥3.05bn | CN¥2.97bn | CN¥2.83bn | CN¥2.66bn | CN¥1.98bn | CN¥1.88bn | CN¥1.75bn | CN¥1.58bn | CN¥1.41bn |
| Research and development | CN¥30.4m | CN¥12.2m | CN¥9.0m | CN¥7.5m | CN¥7.9m | — | CN¥300,000 | — | — | CN¥1.5m |
| Operating income | CN¥1.30bn | CN¥1.12bn | CN¥1.35bn | CN¥1.13bn | CN¥871.9m | CN¥781.3m | CN¥732.5m | CN¥655.5m | CN¥620.1m | CN¥383.6m |
| Net income | CN¥1.04bn | CN¥809.8m | CN¥1.28bn | CN¥955.1m | CN¥969.1m | CN¥760.4m | CN¥733.1m | CN¥655.3m | CN¥611.4m | CN¥422.3m |
| Diluted earnings per share | 1.18 | 0.92 | 1.43 | 1.07 | 1.08 | 0.84 | 0.81 | 0.72 | 0.70 | 0.51 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥17.76bn | CN¥17.38bn | CN¥16.24bn | CN¥14.82bn | CN¥13.18bn | CN¥11.46bn | CN¥10.75bn | CN¥9.32bn | CN¥9.10bn | CN¥8.61bn |
| Cash and short-term investments | — | CN¥4.25bn | CN¥4.18bn | CN¥3.76bn | CN¥3.06bn | CN¥2.27bn | CN¥2.06bn | CN¥1.34bn | CN¥1.84bn | CN¥1.46bn |
| Total liabilities | CN¥8.17bn | CN¥8.34bn | CN¥7.48bn | CN¥6.77bn | CN¥5.86bn | CN¥4.69bn | CN¥4.51bn | CN¥3.79bn | CN¥4.17bn | CN¥4.20bn |
| Debt | CN¥1.07bn | CN¥1.57bn | CN¥1.15bn | CN¥934.9m | CN¥775.9m | CN¥150.9m | CN¥235.3m | CN¥3.3m | CN¥361.3m | CN¥19.5m |
| Shareholders' equity | CN¥8.83bn | CN¥8.27bn | CN¥7.95bn | CN¥7.24bn | CN¥7.11bn | CN¥6.58bn | CN¥6.05bn | CN¥5.47bn | CN¥4.88bn | CN¥3.58bn |
| Shares outstanding | 882m | 883m | 896m | 896m | 895m | 900m | 907m | 912m | 869m | 831m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.72bn | CN¥1.32bn | CN¥1.61bn | CN¥2.42bn | CN¥1.26bn | CN¥780.7m | CN¥861.7m | CN¥473.4m | CN¥332.4m | CN¥542.8m |
| Capital spending | −CN¥730.3m | −CN¥687.3m | −CN¥577.6m | −CN¥273.0m | −CN¥457.0m | −CN¥333.7m | −CN¥362.4m | −CN¥215.8m | −CN¥750.1m | −CN¥1.70bn |
| Free cash flow | CN¥985.2m | CN¥634.0m | CN¥1.03bn | CN¥2.15bn | CN¥800.5m | CN¥447.0m | CN¥499.4m | CN¥257.6m | −CN¥417.7m | −CN¥1.16bn |
| Dividends paid | −CN¥524.7m | −CN¥517.1m | −CN¥455.1m | −CN¥290.8m | −CN¥277.6m | −CN¥224.0m | −CN¥197.1m | −CN¥198.9m | −CN¥231.4m | −CN¥148.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.82bn | CN¥1.97bn | CN¥2.35bn | CN¥2.31bn | CN¥1.86bn | CN¥2.11bn | CN¥2.69bn | CN¥2.45bn |
| Gross profit | CN¥691.9m | CN¥792.2m | CN¥870.3m | CN¥866.7m | CN¥551.1m | CN¥806.5m | CN¥844.7m | CN¥846.5m |
| Operating income | CN¥242.2m | CN¥405.0m | CN¥278.1m | CN¥367.6m | CN¥195.8m | CN¥360.0m | CN¥301.1m | CN¥349.4m |
| Net income | CN¥174.4m | CN¥300.3m | CN¥192.3m | CN¥399.7m | CN¥130.7m | CN¥320.2m | CN¥280.6m | CN¥230.1m |
| Diluted earnings per share | 0.20 | 0.34 | 0.22 | 0.45 | 0.15 | 0.36 | 0.32 | 0.26 |
| Cash from operations | — | — | — | CN¥67.0m | CN¥41.0m | −CN¥169.0m | — | −CN¥536.0m |
| Capital spending | −CN¥92.0m | −CN¥179.0m | −CN¥195.0m | −CN¥163.0m | −CN¥150.0m | −CN¥221.0m | −CN¥162.0m | −CN¥170.0m |
| Free cash flow | — | — | — | −CN¥96.0m | −CN¥109.0m | −CN¥390.0m | — | −CN¥706.0m |
| Total assets | CN¥18.16bn | CN¥18.75bn | CN¥17.76bn | CN¥18.35bn | CN¥17.47bn | CN¥18.44bn | CN¥17.38bn | CN¥17.55bn |
| Cash and short-term investments | — | — | — | CN¥3.01bn | CN¥3.76bn | CN¥3.97bn | CN¥4.25bn | CN¥2.51bn |
| Debt | CN¥1.10bn | CN¥1.09bn | CN¥1.07bn | CN¥251.5m | CN¥1.79bn | CN¥1.70bn | CN¥1.39bn | CN¥1.33bn |
| Shareholders' equity | CN¥8.81bn | CN¥9.13bn | CN¥8.83bn | CN¥8.64bn | CN¥8.24bn | CN¥8.59bn | CN¥8.27bn | CN¥8.00bn |
Financial ratios
Data as of 3 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 36.2% | 33.2% | 31.7% | 31.3% | 31.3% | 28.8% | — |
| Operating margin | 15.1% | 12.2% | 14.4% | 12.5% | 10.3% | 11.3% | — |
| Net margin | 12.1% | 8.8% | 13.7% | 10.5% | 11.4% | 11.0% | — |
| Return on equity | 11.8% | 9.8% | 16.2% | 13.2% | 13.6% | 11.6% | — |
| Return on assets | 5.9% | 4.7% | 7.9% | 6.4% | 7.4% | 6.6% | — |
| Free cash flow yield | 21.9% | 17.9% | 19.2% | 23.7% | 15.1% | 9.8% | — |
| Revenue growth | -5.8% | -2.1% | 3.4% | 6.7% | 23.2% | 5.7% | — |
| Earnings growth | 28.8% | -36.9% | 34.4% | -1.4% | 27.4% | 3.7% | — |
| Current ratio | 1.27x | 1.27x | 1.27x | 1.36x | 1.32x | 1.28x | — |
| Debt to equity | 0.12x | 0.18x | 0.12x | 0.10x | 0.08x | 0.02x | — |
| Equity ratio | 49.7% | 47.6% | 48.9% | 48.8% | 54.0% | 57.4% | — |
| Interest coverage | 66.32x | 59.70x | 79.33x | 46.61x | 38.28x | 44.15x | — |
| R&D as a share of sales | 0.4% | 0.1% | 0.1% | 0.1% | 0.1% | — | 0.0% |
| Buybacks as a share of market value | 0.1% | 1.5% | 0.0% | -0.1% | 0.6% | 0.7% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.6% | 4.6% | 6.5% |
| Operating income | 4.7% | 10.7% | 13.3% |
| Net income | 3.0% | 6.5% | 10.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 34.7% | 33.1% | 32.2% | 31.3% |
| Operating margin | 13.6% | 13.5% | 12.7% | 11.9% |
| Net margin | 10.4% | 11.3% | 11.3% | 11.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 11.3 | 16.5 | 9.1 | 7.8 | 7.9 | 9.8 | 11.5 | 11.7 | 16.6 | 30.7 |
| Price to sales | 1.4 | 1.4 | 1.2 | 0.8 | 0.9 | 1.1 | 1.3 | 1.4 | 1.9 | 2.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 10 years. Last went ex-dividend on 22 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.56 | 0.55 | 0.54 | 0.47 | 0.33 | 0.31 | 0.25 | 0.22 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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