Beijing Enlight Media (300251) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was RMB 324.28 million, down 90% year-over-year due to a high base in 2025 and industry adjustment.

• Net profit attributable to shareholders was RMB 33.01 million, a 98.52% decrease year-over-year.

• Excluding non-recurring items, net profit was RMB 4.64 million, down 99.79% year-over-year.

• The company continued to focus on IP-driven content production, animation, and diversified business expansion.

Financial highlights

• Operating cash flow was negative RMB 133.55 million, compared to positive RMB 2.98 billion in H1 2025.

• Basic and diluted EPS were both RMB 0.01, down 98.68% year-over-year.

• Total assets at period end were RMB 10.17 billion, down 7.37% from year-end 2025.

• Net assets attributable to shareholders were RMB 9.51 billion, down 4.46% from year-end 2025.

• Non-recurring profit items totaled RMB 28.37 million, mainly from government subsidies and investment returns.

Outlook and guidance

• The company will continue to deepen its IP-centric strategy, expand animation and derivative businesses, and optimize its business structure.

• Multiple film and animation projects are in production or planning, with several slated for release in H2 2026 and beyond.

• The company expects to maintain a stable business foundation and pursue long-term, high-quality growth.