JIANGSU PHOENIX PUBLISHING & MEDIA (601928) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was RMB 6.10 billion, down 14.24% year-over-year; net profit attributable to shareholders was RMB 1.09 billion, down 31.12%.

• Cash flow from operating activities increased 203.93% year-over-year to RMB 609 million.

• The company maintained industry leadership in publishing, education, and digital transformation, with continued investment in AI and digital education platforms.

• A cash dividend of RMB 1.00 per 10 shares (totaling RMB 254.49 million) was approved.

Financial highlights

• Operating income: RMB 6.10 billion (down 14.24% year-over-year).

• Net profit attributable to shareholders: RMB 1.09 billion (down 31.12% year-over-year).

• Operating cash flow: RMB 609 million (up 203.93% year-over-year).

• Basic EPS: RMB 0.4292 (down 31.12% year-over-year).

• Gross margin remained stable; cost reductions in sales and management expenses.

Outlook and guidance

• The company will accelerate digital transformation, expand AI and smart education, and pursue new growth in digital publishing and new media.

• Risks include uncertainty in digital transition and declining student enrollment due to demographic trends.