Xinhua Media's 2025 revenue is 1.45B yuan, with a narrowed net loss attributable to shareholders after deducting non-recurring gains and losses.

Question about AI · Over 90% of revenue comes from books, what is the impact of the decline in newspapers and magazines on the company’s strategy?

Blue Whale News, April 1st: On March 30th, Xinhua Media disclosed its 2025 annual report. The company achieved operating revenue of 1.45B yuan in 2025, a year-on-year increase of 1.31%; net profit attributable to the parent was 42.2578 million yuan, up 4.45%; non-recurring net profit attributable to the parent was -16.2975 million yuan, up 60.24%;

Notably, the improvement in non-recurring net profit attributable to the parent was concentrated in the fourth quarter, when non-recurring net profit was 12.8703 million yuan, the only profitable reporting period of the year; the first three quarters combined had a loss of 29.1678 million yuan.

The company’s main business gross profit margin is 29.73%, down 0.74 percentage points year-on-year. This change was mainly due to the drag from the newspaper and advertising sectors—whose gross profit margin decreased by 24.34 percentage points—while the book sector, which accounts for 94.68% of revenue, saw only a slight decrease of 0.41 percentage points in gross profit margin. Selling expenses totaled 321 million yuan, down 2.71% year-on-year. During the same period, net cash flow from operating activities was 159 million yuan, an increase of 9.78%.

Financial expenses were -16.5241 million yuan, showing a net gain, mainly due to a significant increase in interest income from fixed deposits and notice deposits upon maturity. As of the end of the reporting period, the company had no short-term or long-term loans, with an asset-liability ratio of 33.58% and a current ratio of 1.97.

In 2025, the company’s revenue structure further concentrated on the book main business. Data shows that book revenue accounted for 94.68% of main business revenue, while revenue from newspapers and advertising continued to shrink, and other business revenue accounted for 2.41%. Revenue in Shanghai reached 79.82%, showing a trend of increased concentration compared to previous years, while revenue from other regions decreased accordingly to 20.18%.

The dividend plan is to distribute a cash dividend of 0.13 yuan (tax included) per 10 shares, totaling 13,583,542.05 yuan, with a dividend payout ratio of 32.14%.